New RESA Service Agreement
The new Real Estate Services Act (RESA) came into effect January 1, 2022.
The new act includes many changes which impact both REALTORS® and
their buyer and seller clients.
One significant impact is the requirement for written service agreements.
RESA Regulation 84/2021 requires registrants to, on behalf of their brokerage,
enter into a written service agreement with each prospective buyer, seller, landlord,
and tenant prior to providing them with real estate services, property management
services or private sales services. Written service agreements are intended to provide
clarity as to what specific real estate services an individual can expect to receive from
a registrant on behalf of their brokerage.
Your Realtor will discuss these new regulations with you, and answer any
questions you might have.