Can my real estate agent buy my property themselves in Ontario?

Yes, but with significant disclosure requirements. Ontario's real estate regulations under REBBA require that when a registrant (agent or broker) or anyone related to them wants to acquire a property they have been retained to sell, they must disclose this in writing before the transaction completes. The seller must be fully aware that the agent is personally benefiting from the transaction.

The conflict of interest is significant: your agent is supposed to be working in your best interest to get the highest price possible, but if they are the buyer, their financial interest is to pay as little as possible. These interests cannot both be fully served by the same person. In practice, most agents in this situation withdraw from the listing and the seller seeks independent representation before the agent's purchase proceeds.

In addition to the regulatory requirements, many brokerage policies impose their own internal rules when a registrant wishes to purchase a listing. If your agent tells you they are interested in buying your home, your first step should be to get independent legal advice and consider whether you want a new agent representing you for that transaction.