This is the case of the “missing” indemnity clause. You might think that there is an indemnity clause because the paragraph starts out with the word “indemnification”. But, naturally, that’s …
TRESA: Phase 2 Implementation “when does it come into force”?
The implementation date for Phase 2 is 1 December 2023. That means it’s “in force” effective 12:00 am on the 1st. But, in many cases now we actually have to …
TRESA: Customer Service Coming to an End
The implementation date for TRESA is 1 December 2023. That’s the effective date when the Customer Service relationship can no longer be arranged. However, if such a relationship were previously …
Designated Agency and the “Mentor” under TRESA
TRESA will authorize “Designated Agency”. That will be fine and save some significant conflicts of interest. The appointment is made by the Brokerage. The Brokerage appoints Bob to act on …
No Deposit: Agent’s Responsibility
If the purchaser fails to deliver the deposit, whose responsibility is this? What is the role of the agent? The Real Estate Council of Ontario (RECO), the regulating body for …
The Unprofessional Advertisement
The agent ran an ad that cost $8,000.00! That’s a lot of money for a local ad running in a Periodical. Well, that was the Fine not really the cost of the …
Air Conditioners For Everyone!
Avoid Discipline Charges Free air-conditioners all at the realtor’s expense. And, you might wonder why? It’s very simple. The agent said central air was included. Only one little problem, the …
REBBA 2002, Related Parties Defined
From time to time the issue of “related parties” arises. There is an obligation upon real estate agents to disclose a direct or indirect interest in a real estate transaction. …
Are you related to my cousin Vinny?
Related Parties under REBBA Are you related to cousin Vinny? Well, you were until 31 March 2006 and now you’re not. That’s the “correct” real estate answer! Who are you …
Dual Agency: Resolved
There are certainly some problems with dual agency, the most critical of which is the inherent unresolvable conflict of interest. But, even if it cannot be resolved, perhaps a suitable …