Ending real estate contracts early can get messy.
Like any legal contract, agreements to represent you in a real estate sale may be binding or come with conditions.
Axess Law’s real estate lawyers review your agreement to advise you on legal commitments that can be costly.
What Can Possibly Go Wrong
Representation agreements you sign while working with a realtor in Ontario usually have start and end dates. Some even include provisions to end an agreement early.
But trying to end a relationship with a realtor who is not producing the results you want can incur penalties. You could be pressured to stay with a brokerage and just change agents. More alarming yet, even after expiry, holdover clauses in your representation agreement can require you to pay double the commission if a buyer viewed your property while the agreement was in place.
Axess Law takes care to protect your interests in case a representation agreement goes wrong.
What does your lawyer need to close your home purchase?
Hiring the Realtor You Want
What do you do when your realtor is simply not compatible or your property is languishing, so you think, in a hot real estate market? Surely, your home should be sold by now.
If you’re wondering, can you use multiple realtors when buying a house, the short answer is not usually. Especially if you have a contract that gives a realtor or brokerage the exclusive right to sell your property, you’re legally bound to the contract until it expires.
Your realtor rightfully expects you will let them know if a buyer contacts you directly. Even if another brokerage or agent you hire before your initial agreement expires sells your home, you could be liable to pay both realtors their full commission.
After all, you made a contract.
How to hire a real estate lawyer in Ontario.
When You Want to End a Realtor Relationship
- See if the realtor and brokerage will agree to terminate early by mutual consent.
- You may have to compensate your realtor for advertising expenses, property surveys, measuring your home’s dimensions or hiring a professional photographer.
- Any financial costs you could incur will be included in your agreement. Expenses can’t be added later, after you agree to go separate ways.
- If that’s not acceptable, a realtor lawyer for the brokerage may agree to terminate the agreement early on condition you don’t relist your home until after the expiry date. That means you won’t be able to accept any other agreement of purchase and sale in Ontario.
- Conditional terminations get you out of the agreement, but since you will have to outwait the agreement anyway, you may not want to bother. On the other hand, taking a breather could be worth it.
Realtors’ Duties to Clients
What if your realtor is dishonest? Realtors have a duty under the Real Estate and Business Brokers Act 2002 to act ethically and within the law.
You can complain to RECO if your realtor or a brokerage:
- is unfair to you or potential buyers
- reveals confidential information
- intentionally misleads you
- misuses your deposit
- acts for both you and the buyer without telling you
- jeopardizes a sale by not giving your lawyer or lender information in a timely way
- represents multiple buyers without informing you
- withholds offers
- has an undisclosed conflict of interest
- or otherwise disadvantages you.
See your realtor’s obligations.
Get Independent Legal Advice on Realtor Agreements
Axess Law’s real estate lawyers refer you to trusted legal partners for advice on wording of representation agreements, including clauses that give you the right to terminate early, with or without penalties or conditions.
We advise you on sellers’ obligations and realtor duties to clients. When you think a realtor is being dishonest, we refer you to trusted legal partners for advice on making a RECO complaint or going to court in Ontario.
When you do sell, we have affordable lawyers near you who can prepare legal documents to finalize your real estate deal. Only a lawyer can close a real estate transaction in Ontario. Why pay more when you can have flat fee legal services at Axess Law?
Writing valid agreements of purchase and sale.
We Close Home Sales
Axess Law has real estate lawyers in Toronto, Greater Toronto Area or Ottawa for legal advice on buying homes or property. We advise home sellers on steps you need to take to meet a buyer’s closing deadlines. We can even deliver the keys or arrange for you to pick them up at your new home.
You can sign closing documents at any of our conveniently located Axess Law locations in Greater Toronto Area or Ottawa or e-sign if you prefer.
Your lawyer will search the title to your property, negotiate with the buyer’s lawyer if problems arise and transfer title to your buyer. We receive discharge mortgages and transfer the buyer deposit and final payment to your mortgage lender or bank account.
Affordable Legal Services for Ontario Home Sellers
Axess Law has low cost, flat fee legal services for real estate transactions. Independent legal opinions are only $349.99 and up plus HST. You pay $799.99 and up plus HST to sell a home — from $999.99 plus HST if you’re the buyer. Transfer of title is $649.99 plus HST.
You’re billed for only the services you need and we give you an itemized statement of adjustments at the end. Our all-inclusive fees have no surprises or unexplained charges to worry about.
When to get independent legal advice.
Virtual Lawyers for Real Property Sales
Axess Law virtual real estate lawyers can meet you online via video conference call to discuss representation agreements or close sales transactions. Our remote real estate lawyers are available wherever you are, anywhere in Ontario. (In person appointments are available at Axess Law offices near you.)
E-sign documents from the comfort of your home or office. We use only secure, confidential software to meet with you. Your legal documents are mailed or couriered to make closing deadlines on time.
Arrange a virtual real estate closing.
Book Video Call Appointments Online
Call us before you sign a real estate representation agreement you find unclear. We make day or evening appointments that fit your schedule. You can book online with our easy web form or call our 647-479-0118 lawyer line (toll free to 877-522-9377) to make appointments today.
We’re easy to get to — Axess Law locations in Greater Toronto Area and Ottawa have onsite parking and transit access is close by.