What am I signing when I list my home, and what does my agent owe me?

The listing agreement, clause by clause

The listing agreement is a contract with the brokerage, not the individual agent. Read the term (the dates it runs), the commission and how HST is added, the holdover clause that keeps commission payable if you later sell to someone introduced during the listing, and the marketing consents for photographs, the listing service and a lockbox.

Most listings are exclusive, which means commission is payable however the buyer is found, including by you. Check what happens if you want to end the listing early; brokerages often agree, but the agreement usually does not oblige them to. Ask for any changes in writing before you sign.

What the brokerage owes you

Under the Trust in Real Estate Services Act, 2002 and its code of ethics, a registrant must deal honestly and fairly, disclose material facts they know, explain the services they offer, disclose any interest they have in the transaction and present every offer. As of September 2026, following the Act's recent changes, a brokerage may represent you alone under designated representation rather than acting for both sides.

The Real Estate Council of Ontario registers agents and brokerages and handles complaints. If an agent acts for the buyer as well, they must explain the limits that puts on the advice they can give you, and you must agree in writing.

How the price is set and what the law says about it

The law does not set a price and neither do we. Your agent will bring comparable sales, an opinion of the current market and a marketing plan; you may also commission an appraisal. The property assessment from the Municipal Property Assessment Corporation is for property tax and is not a market valuation.

Listing below expected value, holding offers to a set date and asking for offers over a figure are all lawful marketing choices. What the law does regulate is honesty: the listing must not misstate the home, and neither may you or your agent misstate other offers.

Showings, staging and a tenant's rights

Once the home is listed, agree with your agent on showing hours, whether a lockbox is used and what happens to valuables and pets. Your home insurer should know the home is on the market.

If a tenant lives in all or part of the home, section 27 of the Residential Tenancies Act, 2006 applies: you or your brokerage may show the unit only on written notice given at least 24 hours ahead that names the day and a time between 8 a.m. and 8 p.m. The tenant does not have to leave or tidy, and cannot be penalised for being present.

What a lawyer checks before the first offer

Before an offer arrives we confirm the registered owners and how they hold title, check for old mortgages, executions or liens that would need to be cleared, look for open permits, confirm any spousal or estate consents, and ask the lender for a payout statement. We also help you decide whether to complete a Seller Property Information Statement and how to word any written disclosure.

Finally we make sure the chattels and fixtures list is written down. Most closing-day disputes about what was left behind trace back to a list that never existed.