Wednesday, January 4, 2012

Who are CLIENTS in Real Estate Transactions?


Clients ~ An Easy to Understand Concept

Ontario Real Estate Source

By Brian Madigan LL.B.

While it may be difficult to understand the “customer” status relationship, no one seems to have difficulty with “clients”.

The concept of a client is simple and straightforward. It is the usual name of the principal in an agency relationship.

Many professionals deal with agency and represent clients, including lawyers, doctors, engineers, architects, barristers, solicitors, notaries public, conveyancers, paralegals, attorneys, accountants, consultants etc.

In just about all cases, the principal is referred to as the “client”. There is one notable exception, and that is doctors, whose principals are known as “patients”.

It is also easy to figure out that the highest duties are owed to the client or patient. You don’t have to know specifically what they are, but just about everyone knows inherently that clients stand in first place. That’s as good as you get. It is very basic and very fundamental.

And, of course, it’s the common law.

Brian Madigan LL.B., Broker is an author and commentator on real estate matters, if you are interested in residential or commercial properties in Mississauga, Toronto or the GTA, you may contact him through Royal LePage Innovators Realty, Brokerage 905-796-8888