(Ontario) Question: An agent I am working with is reducing her commission to make the deal work. The Confirmation of Cooperation and Representation (CCR) that outlines the full amount so …
Retrofit Clauses for Agreements
One very significant problem was the real estate industry would encourage the sale of a building with a secondary unit in an area zoned simply for single family units. There …
Complications with “Acceptance” of an Offer
When is an Offer “accepted”, that’s a crucial question. There are two steps with respect to acceptance of an Offer: Signing or executing the document, and Communicating to the other …
Be Sure to make Proper Use of Form 801
For a considerable period of time, there was a concern about “phantom offers” in Ontario. A Buyer is looking at a property and just as they are about to submit …
Inappropriate Use of “Representation” in Ontario
Question What about a “Mere Posting Brokerage” providing “representation” to the Seller? According to the salesperson, they say that they do it all the time, as in 90% of the …
Misguided Discipline Decision Thwarts Fiduciary Duties and Contract Law
A rather interesting Discipline Decision was recently released by RECO. Obviously, the Regulator wants everyone to “play nice in the sandbox”, after all we are “Canadians”. The only problem is …
Material Facts Checklist
Ontario Many agents in simply believe that there isn’t one at all. That’s not true. It’s Form 820 entitled “Residential Information Checklist”. There are also some additional Schedules set out …
Do You Have to Disclose a Back Up Offer?
Depends who you ask! If you ask RECO, the answer is “yes”. If you were to ask a Judge, the answer is “no”. But, not everyone is governed by RECO, …
Code or Common Law Precedence
(Ontario) Question: REBBA 2002 requires a written agreement, but then Agency Law states that it is not necessary to have a written agreement. Which would take precedence? Answer: The Act …
Renter is a RECO Registrant: No Loss of Rights
(Ontario) Question: I have clients who bought a rented condo 2 years ago, we did not know that the seller’s real estate agent was the renter. The agent never disclosed …