Acting for Sellers Checklist

Practice Resources
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  • This is not an exhaustive list. These are examples of considerations you should think about when entering into agency relationships with sellers. Please check with your managing broker if you have questions about additional considerations when meeting with potential new clients.

Preparing for a listing presentation:

Research the property
Prepare a CMA (“Comparative Market Analysis”) based on similar comparable property sales
Review a copy of the property title
If the property is a strata lot, order and obtain a copy of the strata documents including: Form B Strata council meeting minutes, Real Estate Services Rules, and Regulatory Statements
If the property is new, research the property against the new home registry to determine if there should be a warranty
Print off or download all required documents you review with your potential seller client including: Disclosure of Representation in Trading Services Form; A written service agreement; A FINTRAC (Financial Transactions and Reports Analysis Centre of Canada) Information form; A Property Disclosure Statement; Any other forms required by your real estate trade association such as: Privacy Notice and Consent form; and Data Input form.
Perform a LOTR (“Land Owner Transparency Registry”) search on the property and the seller

During a listing presentation

Review and complete the Disclosure of Representation in Trading Services form prior to providing any real estate services. Ensure you explain agency in detail
Review and complete the FINTRAC Information form with the consumer
Review your CMA with the consumer
Discuss with the seller the differences between a material latent and patent defect and what must be disclosed by you
Complete the written service agreement ensuring you explain all terms of the contract so that the consumer is providing informed consent
Discuss with the seller any potential conflicts that may arise and establish a process on how the seller wishes to handle any conflicts should they arise
If the seller agrees to fill out the Property Disclosure Statement, provide the document but ensure you do not direct how they complete the questions
Determine how the sellers want offers to be handled
Explain that a Disclosure to Sellers of Expected Remuneration will be provided by you with each offer
Devise a communication plan with the sellers
Measure the property and keep notes on how you arrived at the measurement you are going to advertise
Provide the seller with a complete set of the executed contracts and forms
Provide your brokerage with a full set of the required forms