One of the primary responsibilities of any reputable Real Estate Sales Representative is to provide a clear explanation of the role that each party will play in your real estate transaction. This is called disclosure.
Disclosure is required under the Codes of Ethics of both the Real Estate Council of Ontario (RECO) and the Canadian Real Estate Association (CREA). It is not only necessary, but beneficial. It builds trust and confidence with both the Seller and Buyer, cements business relationships, and advances consumer knowledge. Sellers and Buyers must be informed who is working FOR and WITH whom, and they must acknowledge in writing that they have been informed.
REALTORS® are governed by the legal concept of “agency,” the relationship between principal and agent (master and servant) wherein the agent is considered in law to represent the principal.