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All Ontario REALTORS are registered under the Act and governed by its provisions. REBBA 2002 is consumer protection legislation regulating the conduct of real estate brokerages and their salespeople/brokers. The Act provides consumer protection in the form of deposit insurance and requires every salesperson/broker to carry errors omission E O insurance. A buyer or seller may not wish to be under contract as a client with the brokerage but would rather be treated as a customer. A REALTOR is obli ...

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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

What is Schedule B in real estate Ontario?

A schedule (usually Schedule \u201cB\u201d) attached to the APS will also say whether the trust account where the money is held will generate interest. If the trust account doesn't generate interest, you will not receive any interest while your deposit is held there.

What is Form 801 Orea?

OREA's new form aims to meet the needs for the content required within a prescribed document. It is Form 801: OREA Offer Summary Document for Use with Agreement of Purchase and Sale. \u201cThis new form was created by OREA to satisfy the need for an \u201cequivalent prescribed document,\u201d she adds.

Is Orea Form 801 mandatory?

Next the Ontario Real Estate Association decided to introduce the form 801 to make things easier for all agents. The form captures all the information from the offer, meaning less paperwork to store. This form is not mandatory, just a way to reduce paper.

Can anyone use Orea form?

These OREA Standard Forms and Clauses are for use by OREA members and certain licensees only. Any other use or reproduction is prohibited except with the prior written consent of OREA.

Can a real estate agent represent seller and buyer in Ontario?

In Ontario, it's legal for an agent to work for both the Buyer and the Seller. It's called Multiple Representation and it's complicated.

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What does form 810 mean?

Form 810 also explains what happens when a Realtor (real estate agent) is representing both the home buyer and the home seller. Keep in mind that the \u201cWorking With a Realtor\u201d (Form 810) is an agreement between you (the home buyer or the home seller) and the Brokerage, not you and your Realtor.

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What is Schedule B in real estate Ontario?

What is Form 801 Orea?

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Can anyone use Orea form?

Can a real estate agent represent seller and buyer in Ontario?

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