Question: If you are the Listing Agent and you got into multiple offers on presentation night; by the end of the presentations, the house was sold firm and you have …
Service Choices Alternatives and Avoiding Conflicts
Question: You have a listing, and you are approached by lots of buyers to represent them as the buyer agent, and it’s potentially a multiple offer situation. Do you offer: …
RECO’s Role
It seems curious that RECO feels that it must provide direct real estate advice to consumers, thereby “competing” with its own membership. Three other regulators, namely the Law Society of …
Seller’s Release from Prior Agreement Gives Too Much Power to the First Buyer
Sometimes, there is more than one way to deal with an issue. Let’s look at a situation where Buyer #2 wants to proceed with an Offer on a property. Looking …
Seller Commission Reduction
Question: A property is listed for sale and offers co-operating agents X.5% plus HST. The Co-Operating Brokerage submits and offer reflecting the X.5% The Listing Brokerage without any discussion or …
Disclosure of Former Grow-ops
Disclosure of Former Grow-Ops and RECO’s Press Release 25 March 2017 RECO outlines the fact that the Seller and the Listing Agent can collude together to conceal information which they …
RECO: Disclosure Former Grow-op
Does my salesperson have to tell potential buyers that my home is a former grow-op? RECO Press Release: March 25, 2017 “There are two separate issues to deal with when …
Removing One Tenant from a Lease
Question: If a couple separates while in a lease (both have signed for the year) and one person leaves, can that person have their name taken off the lease (assuming …
Notices in Multiple Representation Situations
Question: Clause 3 (Representation) of the Listing Agreement? “Where a Brokerage represents both the Seller and the Buyer (multiple representation), the Brokerage shall not be entitled or authorized to be …
Written direction for multiple offers
February 21, 2017 Bulletin #2017-1 Overview The purpose of this Registrar’s Bulletin is to explain and clarify the requirement of you, as registrants, to convey an offer to your clients …