Blocked attendance: RECO Discipline We looked at this case from the Buyer’s agent perspective where RECO assessed a $6,500.00 fine. This matter involved the Listing agent. On the MLS listing, …
Release of Lockbox Code to Buyers Directly
RECO Discipline RECO released a discipline decision on 22 September 2022. The Buyer’s agent released the lockbox code directly to the prospective Buyers. This was just a “showing” of the …
Failure to Follow Up with Inspector’s Advice
No building permit for beam: RECO Discipline The Buyer’s agent was aware that the Home Inspector had recommended that further investigation be undertaken. The property was vacant, and it was …
What should Consumers expect from Real Estate Agents?
The Real Estate Regulators of Canada is an organization comprised of the various provincial regulatory bodies including RECO, They have a publication concerning proper professional behavior. This is what it …
What is Expected of a Real Estate Agent?
What is the role of a real estate agent? What should they be doing with respect to a real estate transaction? The Real Estate Council of Ontario (RECO) just published …
IMPACT of Conflict between the Code and Fiduciary Duties
As previously discussed, we are going to have a conflict effective 1 April 2023 when the new TRESA Regulations come into effect. This is the new provision: “Disclosure of facts …
Conflict between the Code and Fiduciary Duties at Common Law
Under existing legislation, all the obligations of an agent under the Code of Ethics and under the common law were consistent. The Code reflected the common law. Now, we are …
Consequences of the Breach of Fiduciary Duties at Common Law
The Ontario Court of Appeal considered these issues almost 30 years ago. In Raso v. Dionigi, 1993 CanLII 8664 (ON CA), The Court dealt with matter of an Agent “double …
Buyer Discovers Appliances are Missing on Closing
Washer and Dryer Missing on Closing Question: I acted for a Buyer client. It closed today. Buyer gets keys and washer/dryer are missing. I put the following in included Chattels …
Disclosure Issues for Realtors
There are basic rules that apply to realtors concerning disclosure. Everyone who is permitted to trade in real estate under the Real Estate and Business Brokers Act, 2002 is subject …