When working with a REALTOR(R), you need to know the different types of ‘Agency’ relationships that exist when Buying, Selling, or Leasing property, as they must be documented for each real estate transaction in Ontario. The Real Estate Council of Ontario (RECO) mandated this requirement in the Real Estate and Business Brokers Act of 2002 (REEBA 2002)  to ensure that the consumer is informed and knowledgable of the representation they are requesting/receiving.

When Buying, Seller or Leasing Real Estate in Ontario, a Buyer, Seller or Tenant can be either represented as a CLIENT, or a CUSTOMER. There is a very important distinction between the two which you need to know, as well as what happens when a Buyer and Seller which are represented by the same brokerage are apart of the same transaction.