Standard forms required to list your property for sale
There are several forms and paperwork that must be completed in order to list a property for sale.
For transactions within the greater Toronto area (GTA), the contracts, forms and brochures are produced by various organizations. The Ontario Real Estate Association (OREA), produces forms, offers and contracts that are designed to be used throughout Ontario by all of the regional real estate boards. The Toronto Real Estate Board (TREB) utilizes the OREA forms and enforces its by-laws on members. Within Ontario, the Real Estate Council of Ontario (RECO), also mandates the use of specific forms relating to agency for each transaction. Realtors must also comply with federal legislation and complete a Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) form, which records information about persons involved in a transaction.
Here is a list of the mandatory paperwork required to list a property for sale in the GTA:
1. "Working with a Realtor"-Pamphlet
This is an informational pamphlet that describes the different types of legal Agency relationships that can exist between a Realtor/brokerage and their buyers and sellers. This form is not a contract; it is signed by the buyer or seller as “having been read".
Click here to open the form
2. Listing Contract
The listing contract form is used for both a Multiple Listing Service (MLS) contract and an Exclusive Listing contract; there is a section on the form to select the type of service. This contract states the listing price, the length of the listing contract, the commission rate or fee and the commission rate or fee being offered to the cooperating (selling) brokerage.
- Listing Agreement Residential - plain language
- Listing Agreement Commercial - plain language
3. Property Data Sheet
This form is an integral part of the listing contract. It records all of the details of the property being listed. It contains relevant information such as the lot size, condominium fees, room measurements and a freeform portion to note features of a property, plus a list of inclusions and exclusions of the sale.
4. FINTRAC Form
This form became mandatory in June 2008 under a federal Act created to counter terrorism and money laundering. The form records the names and photo identification provided by the buyers, sellers and people who provide money (cheque), that are involved in the purchase or sale of real estate within Canada. *Note: A transaction cannot proceed without the completion of this form.
Here is a link to the consumer brochure FINTRAC Consumer brochure