7. Advertising of completed transactions
7.1 The mandatory “SOLD” notice
7.2 Prohibition of advertising of the selling price
7.3 Sold in “X” days
7.4 Sold in collaboration
7.5 Sold within the 180-day period provided for in the brokerage contract to sell (BCS)
7.1 The mandatory “SOLD” notice
The licensee must indicate that the immovable is "sold" on the sign placed on the property upon the fulfilment of all conditions of the accepted promise to purchase. The sign must be removed when the deed of sale is signed or the brokerage contract expires, whichever occurs first.
7.2 Prohibition of advertising of the selling price
Under no circumstances may the sale price of a property or a percentage that could be used to deduce the sale price be advertised.
When a broker advertises the sale of a property he listed, he cannot indicate in his advertising:
- The amount at which it was sold;
- The price initially requested by the seller under the brokerage contract; or
- A percentage that could be used to deduce the sale price.
If the seller and buyer agree that the amount they agreed on be disclosed prior to the signing of the deed of sale, they expose themselves to risks. For example, if a defect is discovered before the signing of the deed of sale, the latter may not take place and the promise to purchase may become null and void. Marketing should be resumed, and the seller may find himself in a vulnerable position when dealing with subsequent potential buyers since the price initially accepted would be known to everybody. The licensee must therefore inform the parties of the risks of advertising the sale price and document his file to that effect. Moreover, the publication of the sale price, even when both parties agree, must be exceptional.
If the broker advertises that a promise to purchase a property has been accepted, he cannot indicate in his advertising:
- The price accepted by the seller;
- A percentage that could be used to deduce the price accepted by the seller.
If he indicates in his advertising the amount requested by the seller, i.e. the listing price, he must not lead others to believe that this amount is the one accepted by the seller. The ad must not be ambiguous: the amount indicated must be clearly identified as the amount requested by the seller. The ad must not lead others to believe that the property is sold or that this is the amount agreed upon by the parties.
Good to know!
For more information on the protection of client personal information, see the Guideline – Privacy protection.
7.3 Sold in “X” days
When an agency or broker wishes to advertise that an immovable has been sold in a given number of days, the days must be calculated from the date of signing of the brokerage contract to the date of fulfilment of all the conditions, excluding the signing of the act of sale, and not the date the promise to purchase was accepted.
7.4 Sold in collaboration
The buyer's real estate agency or broker may advertise a transaction carried out in collaboration with the listing broker if the latter expressly authorizes it. They may, for example, place a sign in front of the property sold or do any other type of advertising.
The statement "SOLD IN COLLABORATION" or " BOUGHT THROUGH" must be indicated.
The buyer's real estate agency or broker must remove the sign in the following cases, whichever occurs first:
- The expiration of the brokerage contract to sell; or
- The signing of the deed of sale.
The same applies when the seller is not represented. The buyer's broker may, if authorized in writing by the selling client, place a "BOUGHT THROUGH" sign in front of the property.
7.5 Sold within the 180-day period provided for in the brokerage contract to sell (BCS)
If, within 180 days following the termination or end of the brokerage contract, a sale takes place with a person who was interested in the immovable while the brokerage contract was in force, the seller may give his consent to the broker to place a "SOLD” sign in front of the immovable, until the signing of the deed of sale.
