Listing Contract

New Videos Highlight Key Areas of Contract of Purchase and Sale

By Ellen Baragon, Guest Contributor Given that the Contract of Purchase and Sale (CPS) is a foundational document to any real estate transaction, REALTORS® need to know the fine details that can make or break a Contract of Purchase and Sale. To that end, BCREA has created a new tutorial video series that reviews key aspects

Drafting a Listing Exclusion #429

Legally Speaking

A listing contract may say that no commission is payable in certain circumstances; for instance, if the buyer is a certain person. Since the particular circumstances are excluded from those that attract commission, this arrangement is often called a listing exclusion. There is no standard wording for a listing exclusion. If the listing brokerage and seller

Commissions, Garnishees and Interest #97

Legally Speaking

By Gerry NeelyB.A. LL.B. Before weave the memory of 1986 too far behind, some questions have been asked concerning several of the 1986 Legally Speaking columns. Column 90 discussed a case where an agent was unable to collect a commission where a purchaser had defaulted, and the listing contract omitted to state what the vendor’s obligation would

Commission – Purchaser’s Default #90

Legally Speaking

By Gerry NeelyB.A. LL.B. You have a listing agreement with a vendor, a binding contract of sale is signed but the sale collapses because of the vendor’s refusal to complete. The Courts will enforce your claim for commission even though the listing contract does not specifically state what your rights are where the vendor is

Commissions – Listing Agreements for Court Ordered Sales #82

Legally Speaking

By Gerry NeelyB.A. LL.B. A recent decision in an action which is likely to go on for some time involves an owner of a foreclosed property that was sold by Court Order, who has sued the lawyer who was advising him throughout the foreclosure proceedings. The basis of the action is that the lawyer consented

Damages in Lieu of Commission #62

Legally Speaking

By Gerry NeelyB.A. LL.B. The advantages of a listing agreement which fully describes the basis upon which a commission is earned and the obligations of the owner toward the listing agent, in order to support a claim for commission or for damages in lieu of commission, are illustrated by the facts of the following case.

The Real Estate Act and the End of the 100% House #23

Legally Speaking

By Gerry NeelyB.A. LL.B. Unless a recent decision is reversed on appeal or the Real Estate Act is changed, the 100% house may disappear. This describes the arrangement between an agent and salesperson where the agent receives no part of the commission earned by the salesperson, but, instead, receives a rental or other payment which defrays the