Client
The person being represented by an agent. The agent owes the client the duties of utmost care, integrity, confidentiality and loyalty.
Closing
The day the legal title to the property changes hands.
CMHC
Canada Mortgage and Housing Corporation. A Crown corporation providing information services and mortgage loan insurance.
Commission
An amount agreed to by the seller and the real estate broker/agent and stated in the listing agreement. It is payable to the broker/agent on closing and shared, if applicable, among those salespeople involved in the sale. Customer
A person who receives valuable information and assistance from a real estate broker or salesperson, but is not represented by that individual.
Source: The Canadian Real Estate Association (http://www.crea.ca)
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