Duties and Obligations of the Broker
The practice of real estate and mortgage brokerage is regulated in order to ensure that members of the public are protected when engaging in a real estate transaction through a broker’s intermediary. The rules and conditions of practice governing the profession are set out in the Real Estate Brokerage Act, the Regulations thereunder and the Rules of Professional Ethics. Read this section to learn more about the duties and obligations of your broker.
Sometimes, the buyer of an immovable does not take out a mortgage loan, preferring to pay cash for his purchase. In such cases, the real estate agent must take steps to protect himself, protect the seller and ensure a smooth transaction.