Brian Madigan LL.B., Broker
BRMadigan@iSourceRealEstate.com

RE/MAX West Realty Inc.,
Brokerage
Independently owned and operated

96 Rexdale Blvd. 
Toronto, Ontario 


Phone: 416-745-2300
Toll Free: 1-888-507-0817

 

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Buyer Customer Service Agreement (Part 2) - PARTIES

May 31, 2015 - Updated: May 31, 2015

Buyer Customer Service Agreement – PARTIES

 

We will review the “Customer Service” agreement in detail. My comments will appear in “italics”, generally in te REVIEW section. I will first set out the section in full as it appears in the document, then I will break it apart for detailed review.

 

This Is A Non-Exclusive Buyer Customer Service Agreement

 

BETWEEN:

 

BROKERAGE:................................................................................................................Tel.No. (..........)...................................

 

ADDRESS:.........................................................................................................................

............................................................................................................................................ Fax.No. (...........)..................................

 

hereinafter referred to as the Brokerage.

 

AND:

 

BUYER(S):......................................................................................................................... hereinafter referred to as the Buyer,

 

 

REVIEW

 

This section here just sets out the names of the parties. It is rather sel-explanatory.  Oddly, the Buyers just have names, but the Brokerage is identified both by address, telephone and fax numbers.

 

In the title is a reference to the agreement being “non-exclusive”. That simply means that both the Brokerage and the Buyers may deal with another party on this same matter.

 

This will ultimately prove to be of significance in defining duties and obligations.

 

This entire arrangement is one of “non-agency”. In Ontario “agency” agreements are now referred to as “representation” agreements. The Client is the Principal and the Brokerage is the Agent. There could indeed be potential conflicts in cases where the Brokerage might have two Clients.

 

The Act and the Regulations distinguish between the duties owed to Clients and Customers.

 

You might recall that at common law, clients in an agency relationship are owe certain fiduciary duties which include:

 

·         Disclosure

·         Obedience

·         Competence

·         Confidentiality

·         Accounting

·         Loyalty

 

 

These same obligations are not owed to Customers.

 

 

 

Brian Madigan LL.B., Broker

www.iSourceRealEstate.com


Tagged with: customer service agreement rebba agency non agency ontario law
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Brian Madigan LL.B. Broker

RE/MAX West Realty Inc. Brokerage

Independently owned and operated

96 Rexdale Blvd. , Toronto Ontario,

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