Seller Representation Agreement
What you're signing and why it matters. Every form has a purpose, and every purpose is to protect you.
When you decide to sell your home, Tory works with you through her brokerage under a designated representation model. This means the representation agreement is between you and the brokerage, and Tory is your designated representative — the person who will be working directly and exclusively in your best interest throughout the selling process.
Form 271: Seller Representation Agreement
This is the official agreement that establishes the listing relationship between you and the brokerage. It outlines the terms of the agreement, the listing price strategy, commission structure, and the duration of the listing. Tory is your designated representative, meaning she is legally obligated to prioritize your interests.
Here's what's typically covered inside Form 271, section by section:
- Identification of Parties — Names of the seller(s) and the brokerage, confirming who is being represented and by whom. This establishes the legal relationship between you and the brokerage.
- Property Description — A detailed description of the property being listed, including the address, legal description, lot size, and any key features. This ensures everyone is on the same page about exactly what property is being marketed.
- Listing Price — The agreed-upon listing price or price strategy. Tory will provide a Comparative Market Analysis (CMA) to help you set a competitive price that attracts buyers while maximizing your return. You have the final say on the listing price.
- Duration of Agreement — The time period this agreement covers, including the listing start date, end date, and any conditions for early termination. You and Tory agree on how long the listing lasts, with clear dates.
- Commission Structure — Explains the commission payable upon successful sale, how it's split between the listing and buyer's brokerages, and when it's due. Everything is transparent — no hidden fees, no surprises on closing day.
- Listing Services and Marketing — Outlines what the brokerage will do to market your property: professional photography, MLS listing, syndication to major real estate platforms, signage, open houses, digital marketing, and more.
- Seller's Obligations — Your commitment to maintain the property in show-ready condition, disclose any known defects, provide accurate information about the property, and cooperate with Tory on showings and marketing.
- Agent's Obligations — Tory's commitment to you: marketing the property professionally, communicating regularly, providing feedback from showings, negotiating on your behalf, and acting in your best interest throughout the process.
- Designated Representation Declaration — Confirms that Tory is your designated representative within the brokerage, meaning she works exclusively in your interest. The brokerage represents you, and Tory is the person assigned to deliver that representation.
- Termination — How either party can end the agreement if things aren't working out, including notice periods and conditions. You're never locked in without recourse.
Brokerage Schedule B
This document details the specific services Tory will provide to you as your listing agent. It breaks down exactly what you get: professional photography, marketing, listing exposure, open houses, negotiation support, and more. No hidden surprises — just a clear outline of the value Tory brings to your sale.
Client Funds Instruction Form
This form tells the brokerage exactly how you want any excess funds (such as a deposit overage or credit) returned to you after closing. Whether you prefer e-transfer, cheque, or wire transfer, this form ensures there's no confusion about where your money goes.
Form 208: Agreement to Access
This form authorizes Tory and her team to access your property for showings, photos, inspections, and any other activities needed to market and sell your home.
Form 209: Discretion to Share Substance of Offers
This form gives Tory the discretion to share the substance of offers with you and other parties as needed during negotiations. It ensures transparency in the offer process.
MLS Data Sheet (Initialled Copy)
Before your home goes live on the MLS, Tory will walk you through the data sheet that details every aspect of your property. You'll initial to confirm that all the details being publicly advertised are accurate.
Form 299: Seller's Disclosure of Latent Defects
This is your opportunity to disclose any known latent defects about your property. Transparency here protects you from future liability and builds trust with potential buyers.
FINTRAC: Individual Identification Record
As part of FINTRAC (Financial Transactions and Reports Analysis Centre of Canada) requirements, Tory is required to verify your identity before you can complete a real estate transaction. This isn't just a formality. It's federal law. Here's what this process involves:
- Identity Confirmation: You'll need to provide government-issued identification (such as a driver's licence or passport) to confirm your full legal name and date of birth.
- Employment and Occupation Details: The form confirms your employment status, your high-level employment role or occupation, and the name of your employer. This helps establish your financial profile and ensures the transaction is being conducted by a legitimate, identifiable person.
- Source of Funds: You'll confirm the source of any funds involved in the transaction. This is part of Canada's anti-money laundering framework and protects everyone involved.
- Intention to Sell: The form confirms your intent to sell the specific property, linking your identity to the transaction.
This is a standard legal requirement for all real estate transactions in Canada. Tory handles this paperwork seamlessly as part of your selling process. It's quick, straightforward, and keeps your transaction fully compliant with federal law.
Politically Exposed Person (PEP) Declaration
This is another FINTRAC requirement, and it's simpler than it sounds. A Politically Exposed Person (PEP) is someone who holds or has recently held a prominent public role, for example:
- A current or former head of state, government official, or senior politician
- A senior executive at a government-owned corporation
- A judge, senior military officer, or diplomat
- An immediate family member or close associate of any of the above
The vast majority of sellers are NOT politically exposed persons. This form is simply a declaration where you confirm that you do not hold such a role. It's a routine compliance check that helps Canada maintain transparency in real estate transactions and prevent money laundering.
If you ARE a PEP, don't worry. It doesn't prevent you from selling property. It just means additional documentation and reporting requirements that Tory will guide you through.
Most sellers sign this in seconds and move on. It's quick, painless, and keeps your transaction fully compliant with federal regulations.
Tory Walks You Through Every Single Form
You'll know exactly what you're signing and why. No jargon, no confusion — just clear, confident guidance from start to finish.
Ready to sell? Let's sit down and go through everything together.