Property Description: Is it Right or Wrong?

When we look at an Agreement of Purchase and Sale, this is what it says about the property and the description of it: REAL PROPERTY: Address ……………………………………………………………………………………………………………………. fronting on the …

Who is Your Client?

You mean you don’t even know who your own client is? Many real estate agents simply don’t know. They don’t care, and they don’t bother to inquire. All of that …

Notices Reviewed: What, When, How?

There is a specific provision in the Agreement of Purchase and Sale for Notices. Here it is: 3. NOTICES: The Seller hereby appoints the Listing Brokerage as agent for the …

Offer and Acceptance

Question: I have a Buyer submitting an Offer on a listing. We are in multiples as there are several other bids. Our offer and the irrevocable until 8:00 p.m. At …

Multiple Representation: When Do You Sign?

Previously, in the Confirmation of Cooperation and Representation (CCR) it was last minute after everything had already gone wrong. Now, we have two new documents, the full explanation and informed …

Multiple Representation: New Forms

Question: Forms 325 and 326. At what point are you getting these forms signed? Answer: Finally, we have some real appreciation of the conflicts that arise with Multiple Representation. Previously, …

Termination Clauses for Listings

It might be wise to adopt a simple approach to terminations. Rather than adopt the risky OREA clauses, why not something simple and straightforward. Leave it out completely That’s about …

Termination Provisions: TRESA

The new TRESA legislation deals with requirements of agreements. Regulation 567/05 includes the following: Contents of written agreements 13.4 (1) A brokerage shall not enter into a written agreement with a …