Do you know the key differences between the various dates on the Multiple Listing Contract?
The Signing date is when the listing contract was signed, which may or may not be the same date as the Effective date.
The Effective date is when the contract comes into effect and the property becomes exclusively listed with a brokerage.
The Expiry date is when this contract ends.
Note: If the Signing and Effective dates are different and the Seller sells their property on their own or with the services of another Realtor between the Signing and Effective dates, the Seller is not obligated to pay a commission to the listing brokerage on the listing contract.
This Practice Tip was provided by Dennis Wilson, Manager, Professional Standards, FVREB.