Plain-English walkthroughs of the moments that trip up new agents — written for Ontario, checked for accuracy.
Form 400 is the residential lease agreement most new agents start with. It sets the parties, the property, rent, term, deposit, and who pays which utilities — with Schedule A for anything extra. Fill it deliberately: every blank you skip becomes a question at signing.
Read the guide →The irrevocable is the deadline by which the other side must accept, or the offer dies. It's a firm date and time — pick one that's realistic and never already in the past. Once it lapses without acceptance, the offer is gone unless it's re-signed.
Read the guide →Under TRESA (the Trust in Real Estate Services Act, 2002), you disclose your representation status in writing before or at the earliest opportunity — and multiple-representation or self-dealing situations trigger specific written disclosures. When in doubt, disclose early and confirm the exact form with your brokerage.
Read the guide →A deposit isn't yours or your client's to hold — it goes into the brokerage's real estate trust account, usually the listing brokerage's, per the agreement's terms. Get the amount, the "herewith/upon acceptance" timing, and the delivery instructions right on the form, and hand the funds over promptly.
Read the guide →Conditions (financing, inspection, status certificate) protect your client until they're satisfied and waived in writing by the stated deadline. Miss the deadline and the condition can auto-fulfill or the deal can collapse — so track every date and use the proper waiver or notice of fulfilment form.
Read the guide →Experienced agents scan for the traps first: dates that don't line up, deposits that don't match, utility splits left blank, names that don't match title. Read the whole agreement out loud once before you send it — the awkward sentence is usually the mistake.
Read the guide →Learn by doing — draft a real form and see the notes on every field.
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