Ontario A real estate agent must investigate, determine and verify the material facts, and then disclose such facts to “their” clients and customers, not other people’s clients and customers, just …
Referral Fees and Finder’s Fees
(Ontario) Question: What are Referral fees and Finder’s fees? Answer: A referral fee paid between two brokerages is paid once the sale has closed and it is taken from the …
Court Rejects Ethical Agency Obligations for Real Estate Agents
The Ontario Court of Appeal considered the testimony of several real estate expert witnesses, all of whom indicated that the selling agent had fiduciary obligations to the vendor in a …
Agency Delegation in Ontario
Question: With respect to real estate brokerage in Ontario, which of the following statements best describes the delegation of an agent’s duties: a. The listing salesperson is not qualified to …
Agent’s Risk of Disclosing Far too Much!
There are two separate and distinct disclosure requirements, one under the Real Estate and Business Brokers Act, 2002 and the other, under the Code of Ethics. The Act requires disclosure …
Offer Conveyance: Agency or Non Agency
(Ontario) Question: You obtain a listing, show the property to a buyer customer and obtain an offer from the customer. The offer states the deposit will be submitted “upon acceptance” of the …
Court Confirms Duty to Read Electronic Documents
A real estate agent and a client were undertaking business together by “long distance”. Documents were forwarded by an electronic software and signature platform known as “Authentisign”. Included among the …
Second Buyer Bumping Your First Buyer
From time to time agents are concerned about their duties if they have more than one prospective Buyer for a property. Usually, this will be the Listing Agent who has …
Agent Convicted for “Signing” on Behalf of Client
This is a very serious offence. In this case, a deal fell apart, and the Agent involved actually signed the Mutual Release on behalf of his Buyer client. The Buyer …
Agency Express and Implied
Question: Could you explain the difference between express and implied agency? Answer: You are concerned about the express and implied agency arrangements. For express agency, there’s always an actual “agency …