A written agreement required under TRESA (Trust in Real Estate Services Act, 2002) and RECO regulations that formally establishes the relationship between a consumer and a real estate brokerage, defining the services to be provided, the parties’ obligations, the term, and compensation. In Ontario, there are distinct representation agreements for buyers (Buyer Representation Agreement) and sellers (Listing Agreement). Brokerages must present a written service agreement before providing trading services.
Synonyms:
BRA|listing agreement|agency agreement