The definitions below are illustrative only and are intended simply to assist the reader's understanding of the Code of Ethics and Standards of Business Practice. Throughout this document, words that are defined have been capitalized.

ADVERTISING means any marketing activity to promote the brokerage, the REALTOR® or a transaction and includes any verbal, written or graphic representation in any form, including electronic media.

APPRAISAL means an opinion of the value of specified interests in, or aspects of, identified real estate based on an analysis of relevant data and performed by persons who have the required training in the preparation of appraisals.

BOARD means a member local real estate Board/Association or provincial/territorial association and includes, where appropriate, a compliance body.

BUYER means a Person acquiring or attempting to acquire an interest in real estate through a Purchase.

CLIENT means a Buyer or a Seller whom a REALTOR® is representing as agent.

COMPENSATION means the payment to a REALTOR® for services related to a Purchase or Sale and includes commissions, fees and any other form of remuneration or reward for services rendered by a REALTOR®.

CONFIDENTIAL INFORMATION means any personal or business information relating to the individual that ought to be considered confidential by its nature.

CUSTOMER means a Buyer or Seller who is not a Client.

CREA'S TRADEMARKS include, but are not limited to, the words REALTOR® and REALTOR Link®, the REALTOR® and REALTOR Link® logos, Multiple Listing Service®, MLS® and the related MLS® logos.

DUAL AGENCY means a relationship in which a brokerage or a REALTOR® represents, as agent, more than one party in the same Transaction.

IDX ("Internet Data Exchange"), refers to a reciprocal system whereby consenting brokerages agree to advertise on their Internet websites, each other's active listings, either from the MLS® database of the board or from REALTOR.ca, subject to subject to the rules of the applicable real estate board and the REALTOR®'s oversight, supervision and accountability.

IMMEDIATE FAMILY “Immediate Family” means a spouse, son, daughter, parent, brother or sister and includes persons who are in such categories because of marriage, common-law relationships, or adoption as well as entities in which such persons have any direct or indirect financial interest.

LISTING means an agreement between a brokerage and a Client granting the brokerage the authority to offer for sale the Client's real property with defined terms and conditions. A listing on MLS® must involve agency and an offer of compensation to the selling office.

OPINION OF VALUE means an estimate of the value of specified interests in, or aspects of, identified real estate which may be based wholly or partly on comparative market analyses. An Opinion of Value may contain more or less analysis of relevant data than an appraisal and may be performed by a REALTOR®.

PERSON includes, where applicable, an individual, a partnership, a corporation and any other entity legally capable of buying and selling real estate.

PURCHASE includes an actual or proposed exchange, option, lease or other acquisition of an interest in real estate.

REALTOR® is a registered trademark of REALTOR® Canada Inc., a company owned equally by the Canadian Real Estate Association and the National Association of REALTORS® and refers to licensed real estate practitioners who are members of The Canadian Real Estate Association.

REGISTRANT means a person licensed by a jurisdiction to trade in real estate.

SALE includes an actual or proposed exchange, option, lease or other disposition of an interest in real estate.

SELLER means a Person disposing of or attempting to dispose of an interest in real estate by Sale.

SERVICE AGREEMENT means an agreement that establishes a relationship between a brokerage and a Person which identifies the responsibilities of each party and includes the services to be performed by the brokerage and any compensation payable.

VOW ("Virtual Office Website") refers to a brokerage or REALTOR® Internet website, or a feature of a such Internet website, through which the REALTOR® provides real estate brokerage services to consumers with whom the REALTOR® has first established a broker-consumer relationship, where the consumer has the opportunity to search for MLS® data, either from the MLS® database of the board or from REALTOR.ca, subject to the rules of the applicable real estate board and the REALTOR®'s oversight, supervision and accountability.