Seller’s Obligations under the Listing Agreement

There are a number of duties, obligations and responsibilities of a Seller under the standard Form Listing Agreement from OREA.

Here’s a list:

  • List, set Offer price
  • Pay commission during currency and holdover period
  • Extended definition of Buyer
  • Offer cooperating commission
  • Make up any shortfall
  • Pay HST in addition
  • Consents to the payment of referral fees
  • Advise of any inquiries
  • Forward any Offers
  • If Seller accepts Offer during holdover, pay commission
  • Permission to show property
  • Permission for Buyers to fully inspect
  • Permission for both “for sale” and “sold” signs
  • Consents to property identification in advertising
  • Agrees no liability for advertising
  • Acknowledges place on MLS within 3 days of public marketing
  • Full right to sell
  • Make full disclosure of title issues and third party interests and claims
  • Listing Brokerage and representatives: Exemption from liability except gross negligence
  • Indemnification to agents in respect to Seller’s breach
  • Seller warrants the property is insured
  • Seller warrants spousal consent either executed or not necessary
  • Seller will execute further authorizations to Listing Brokerage to verify information
  • Seller consents to the use of the information
  • Listing binding upon successors and assigns
  • Schedule “A” will prevail over standard Form
  • Consents to e-signatures and electronic communication
  • Signs under seal, therefore Listing is effective immediately without any consideration
  • Acknowledges receipt of a copy

All of the above matters should be drawn to the attention of the prospective Seller prior to the execution of the Listing Agreement. If there are any particular issues to be discussed or explained in more detail, then, that should take place ahead of time.

Any questions should be answered before the Listing is signed. In fact, any specific questions could be identified and documented in an email.

Brian Madigan LL.B., Broker

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