14. Signatures
The signatures of the parties are the final step in the contract. These signatures formalize the parties’ intent to enter into a contractual relationship under the terms of this document. All persons or their representatives identified in the form must sign it. If there is more than one buyer, they must all sign. The same applies to the broker, whether he is acting on his own account or for an agency. If there is more than one broker, the agency representative and team leader must sign.
Alternatively, the team leader could give power of attorney to other team members to represent him in the signing of the brokerage contract. It should be noted, however, that the other obligations and duties of the team leader and team members under the regulations are not diminished or altered by such a power of attorney; they remain the same.
The broker must reasonably inform the buyer of the rights and obligations that have been set out in writing in the document he is having the buyer sign, which must reflect the buyer’s wishes,
In addition to the signature fields, section 14 of the Exclusive brokerage contract – Purchase includes a block on privacy protection for personal information held by OACIQ licence holders. This information is intended to remind consumers and brokers that they are governed by the Act respecting the protection of personal information in the private sector (CQLR, c. P-39.1) and that there are obligations related to it.
The block also includes an explanation of the OACIQ’s role. The purpose of this statement is to better inform the public of the OACIQ’s mission as regulator of real estate brokerage in Québec.
