A listing agreement is a written contract that is signed between the seller of a home and the company that is brokering the sale. Usually, the seller works with an agent, and the agent works for a brokerage firm. The listing agreement is between the seller and the firm.
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What is a listing agreement?
Electronic documents make real estate transactions more efficient
In 2014 alone, Ontario saw more than 205,000 real estate transactions. At the time, each of those transactions meant dozens of printed contracts and forms -- and dozens of hard-copy signatures from buyers and sellers. Not only is the process not environmentally friendly, but it is also cumbersome for buyers and sellers -- especially those conducting business over a distance. In July 2015, Ontario made changes to the Electronic Commerce Act. Those changes allowed real estate to be bought and sold via electronically signed documents.
Electronic signatures simplify real estate transactions
Completing a real estate transaction usually involves a lot of signatures. Over the course of a real estate transaction, the documents that are signed go through a lot of steps to get from the start to the finish. This can involve emailing, faxing and scanning documents several times. The entire process can take a long time, but the introduction of electronic signatures stands to make the process faster.
Protect your interests during real estate transactions
Real estate transactions are some of the largest transactions a person will make during his or her life. Even though these are some major decisions, the process for completing them is getting a little easier. Just last week, we discussed how Ontario is allowing electronic signatures for some real estate transaction documents.
What are official plans and zoning by-laws?
In the past two posts, we have discussed land use issues and zoning for properties. These are two very important considerations for anyone who is purchasing land. It is vitally important that anyone who is considering purchasing land understand how zoning and land use might affect the land they are considering. In some cases, these points might make land unusable for the purpose for which you intend to use it.
All real estate transactions require investigation and thought
Throughout the course of this blog, we have discussed a variety of real estate law concepts and other considerations that people have to consider when dealing with real estate transactions. In many cases, proper investigation before the transaction and carefully scrutinizing the paperwork of the transaction can go a long way toward ensuring that the transaction goes the way it should.
Real estate transactions can be complex, seek help
Real estate transactions are very involved. Whether you are the seller or the buyer, you have to make sure that your interests are protected. The technical aspects of these transactions can take considerable time and energy to work through. The good news is that we can help you deal with these aspects of the real estate transaction so you can focus on other aspects of your life.
Selling home without agent could become more difficult
The Canadian Real Estate Association and the Competition Bureau entered into an agreement in 2010 that would allow a flat-fee listing on Multiple Listing Service, which is owned by CREA. It's also where all but about 10 percent of the real estate transactions occur. Many people in the past few years have started selling their homes themselves in order to avoid paying the usual 5 percent fee for the realtor's commission.
Foreclosures in Ontario use the Power of Sale process
Financial difficulties often mean that people have to make difficult choices about which bills will get paid and which bills have to become delinquent. In some cases, one of the bills that gets put off is the mortgage. When that happens, homeowners might learn that they are facing foreclosure. In Ontario, foreclosures happen through the Power of Sale. If you are facing a foreclosure, understanding this procedure might help you.
