Information and Disclosure to Self-represented Party - Brokerage representation version

Information

This form is produced by the Real Estate Council of Ontario (RECO)

RECO regulates real estate agents and brokerages, educates consumers, and promotes a safe and informed real estate marketplace. RECO administers and enforces the Trust in Real Estate Services Act, 2002.

Find out more on the RECO website.

Why am I receiving this form?

You are receiving this form because you are not a client of a brokerage, and you might receive assistance from the real estate agent who is representing a client on the other side of the transaction. The brokerage and all its real estate agents have an obligation to promote and protect the best interests of their client.

What is a self-represented party?

If you are involved in a real estate transaction and are not a client of a real estate brokerage, you are considered a self-represented party. This means you have chosen not to work with a real estate agent, and should understand the rights, obligations, and risks of representing yourself in a real estate transaction. Very few buyers or sellers make this choice.

Understand the risks

There are significant risks to representing yourself in a real estate transaction if you do not have the knowledge and expertise required to navigate the transaction on your own. You will be dealing with a seller or buyer who is benefitting from the services, opinions, and advice of a real estate agent.

It’s important to understand that the brokerage and its agents have a legal obligation to do what is best for their buyer or seller client. If you are a buyer, for example, the brokerage and its agents are working for the seller and must promote and protect the seller’s interests in the transaction.

Be aware that the agent is obligated to share anything you tell them with their client, including:

• your motivation for buying or selling the property;
• the minimum or maximum price you are willing to offer or accept; and,
• your preferred terms or conditions for an agreement of purchase and sale.

The real estate agent might provide you with assistance. It is important to understand any assistance that might be provided by the agent:

• must be a service to their client, or incidental to a service to their client;
• must promote and protect the best interests of their client; and,
• must not include opinions or advice to you related to the transaction.

Get independent professional advice before proceeding

RECO recommends that you seek independent professional advice before proceeding or receiving assistance from any of the real estate agents the brokerage employs. You are not a client of the brokerage. Its agents cannot act in your best interests, and you should not rely on their knowledge, skill, or judgment in this transaction.

You have the right to change your mind

If, after reading this form and the RECO Information Guide the real estate agent provided, you are considering becoming a client of a brokerage because you would like to benefit from the services, opinions, and advice that a real estate agent can offer, you have a right to seek services and representation from a different brokerage before proceeding.