Featured QUESTION: Salesperson Smith prepares an offer for $435,000 on a property located in Toronto, Ontario, on behalf of Buyer Jones. The offer is drafted and signed by the client …
Comparing the Commission Clauses in 3 Agreements
There are three basic forms of commission agreements with sellers. They are slightly different. The Listing is agency, the Customer Service agreement is non-agency and the second non agency arrangement …
Commission Sharing Agreements
Real estate agents often work in small teams, or align themselves with others for specific projects. Here’s an example of an arrangement between John and Robert. John’s brother William is …
Failure to Ensure Payment of the Deposit ~ Agent Discipline
This particular case ends up being rather complicated. On the surface, there were 3 offers, and the agent failed to ensure that the deposit got paid. That was true, and …
FINTRAC Obligations Upon Real Estate Agents in Ontario
Since 23 June 2008, real estate agents must comply with the provisions of the Proceeds of Crime (Money Laundering) and Terrorist Financing Act. This Act is federal legislation and …