Is it smart to interview more than one broker first?

Before a listing agreement is signed, you can talk to as many brokers as you like. After it is signed, the terms bind you. That gap is the best time to compare, because every broker is still asking for your business and the terms are still open. The points below focus on what to compare and when.

Why the timing matters

In Ontario, section 33(3) of the Trust in Real Estate Services Act, 2002 says that, unless the seller agrees in writing, no brokerage is entitled to claim remuneration from the seller for a trade in real estate if, to its knowledge, the real estate is covered by an unexpired listing agreement with another brokerage. The Act defines real estate to include businesses. Once you sign with one broker, another brokerage that knows of that listing cannot claim a fee from you unless you agree in writing. Other provinces run their own regimes.

What to compare

The Act says no person may trade in real estate without being registered, subject to listed exemptions, and that no action can be brought for remuneration unless the person was registered or exempt when the services were rendered. Ask each Ontario broker to confirm its registration. Ask how it handles conflicts under the Code of Ethics, and ask how it would approach the buyer network BDC describes, with discreet outreach on your behalf.

Protecting confidentiality while you interview

The Code says a registrant must not disclose a client’s confidential information to a third party without written consent, but that protection runs to a registrant’s clients, and a broker you have not yet hired may not have you as a client. Share general information first, ask for a written confidentiality commitment before you hand over names or figures, and keep a record of what each broker received.

Comparing the proposals

Ask each broker for its draft agreement in writing and read them side by side. The Act says remuneration must be an agreed amount or percentage of the sale price, or a combination of both, and it bars an arrangement based on the difference between the listed price and the actual sale price, so check that the fee clause fits those limits.