OREA Form 641, Referral Agreement

What Is OREA Form 641?

The OREA form 641 is also known as the Referral Agreement. It was created by the Ontario Real Estate Association and approved by the Canadian Real Estate Association. Yet, the document can be used in the Province of Ontario. You need to provide information on the brokerage as well. Even if you arrange the deal between seller and buyer, according to the local laws, you still have to sign the document in the real estate agency.

Pay attention to the fact that for the job, the brokerage requires a fee you need to pay for the contract. In return, you receive the services only receiving brokerage can provide. This third party will create a contract for selling and buying a property that will be legally approved. The results of the referral will be included in the template too.

The document can be provided by the broker you hire. You don’t need to search for it. However, you can always check it in advance and make sure that it matches your demands.

What I need the OREA form 641 for?

• As the seller/buyer, you need a referral agreement with your broker to secure the whole purchase process and ensure that you have guarantees during the procedure. Don’t worry about the legal aspects since it totally taken under control by your broker;
• Your broker needs a referral agreement template to continue the work on the contract between seller and buyer. This document provides extra powers to the broker, who can now act on behalf of the client. The broker has to write down the results that were achieved from the referral. Without this document, the broker can’t continue the work with the client.

How to Fill Out OREA Form 641?

There is only one page in form 641 referral agreement, so it would not take long to fill it out. The form is standard, so your broker is already familiar with it and knows all the details. However, you need to check it once you receive the form. Make sure that the deadlines are discussed, the address of the property is correct, and the fee that is indicated by the broker is the same as you agreed upon during the conversation you had with a broker in advance.

You may find the OREA referral agreement on the official website of the local Realtor’s Association of Ontario. If you want to save time, check it on PDFLiner. This service allows you to fill out the document online without downloading it. Open the file and complete it with the editing tools you see in front of you. After that, save it on your device and send the copy to the other party. You can send the document online or print it and use regular mail. Include the following information there:

1. Provide details on the brokerage, including name, address, and phone number;
2. Provide the information on the other party, including the same data. The phone number must be active so you can always reach this person;
3. Provide information on the referral party, including phone, email, and whether it is the buyer or seller;
4. Add extra comments if you need them;
5. Ask the buyer and seller to sign the document;
6. Provide information on the brokerage fee;
7. Share the results of the referral;
8. Include the address of the sold property.

Organizations that work with OREA form 641

• Ontario Real Estate Association;
• Canadian Real Estate Association.