There is actually an additional disclosure that is required to be made in a Competing Offer situation which is often overlooked. If a Buyer is not represented by a registrant …
Warning Buyers about Noisy Neighbours
By Brian Madigan LL.B. Do you have to warn buyers about noisy neighbours? Actually, it depends upon where you live. If you live in Ontario, you can keep this to …
Hourly Compensation For Agents
Question: May I be compensated on the basis of an hourly rate for my services? Answer: Yes, set out below on the sections that apply to compensation. Nothing restricts hourly …
Execution of the Confirmation of Co-operation and Representation for Multiple Representation
Question: How does the buyer’s agent properly sign the confirmation of co-op and agent sections on the offer in multiple representation (when the listing agent is a different agent from …
Divorcing Couple Offer Presentation
Question: I have a listing with offer to be presented tonight at 8:00pm. Owners are husband and wife, divorcing. Wife has told me she does not want any more showings …
Buyer’s Agent Says they are Waiving their Commission
Question: An agent contacts you that they are bringing in an offer on your Listing, but waiving their commission. Do you disclose to the other agents who are presenting Offers? …
Commission Risks on Power of Sale
Question: If I’m offered a Power of Sale listing that in my opinion will sell for less than the first and second mortgages combined, is there any way to ensure …
Compensating the Rural Property Listing Agent for Showings
There are several issues which arise in this situation. The problem is commonplace. A property is listed “out in the country” by a rural based agent. It might be a …
Agent Fails to Disclose “Marihuana Grow House” to Own Client
This is difficult to believe but it’s true. This matter came on for consideration by the Discipline Committee of RECO. The Buyer was illiterate. He could not speak, read or …
Listing Agent Should Share Sales Information with Buyer Client
Question: I am the Listing Agent and I have a buyer asking me for the previous sales report? Am I doing the sellers a disservice if I give them the …