There is one more element to be considered when we are discussing “close relatives” and disclosure obligations. About 70% of the registrants under RECO are also members of organized real …
Theory of Relativity for Real Estate (Part 2: Who Do You Tell)
A question that pops up frequently in real estate is the matter of disclosure when a real estate agent acts for a relative. Let’s consider a simple case. Bob is …
Theory of Relativity for Real Estate (Part 1: Who’s Included)
A question that pops up frequently in real estate is the matter of disclosure when a real estate agent acts for a relative. Let’s consider a simple case. Bob is …
Should the Listing Agent Get a Copy of the Buyer’s Home Inspection Report?
From time to time, the house just doesn’t pass the “home inspection”. The usual situation would be that the property is listed for sale. An agreement is struck with a …
Should the Agents Be “Present” During an Inspection? (Ontario)
Question: Should the agents be “present” during an inspection? Answer: RECO requires at least one registrant to be in attendance for home inspections (unless the Seller agrees, otherwise). For TREB …
Multiple Offers and Not Reducing Commissions
Question: I am the Listing Agent and I am hosting a multiple offer bidding war. One of the Buyer’s agents wants to throw in his commission to help his client …
Execution of the Mutual Release in Real Estate Transactions
The issue presents itself with every failed transaction. Sign the Mutual Release, give the Buyer his deposit and move on. But, is that really the best idea? In a number …
Returning the Deposit in a Failed Transaction
What documents do you need? You are going to have to have some paperwork for the file. If the deal fell through and the deposit is to be returned to …
Interference With BRA Contract?
Question: A potential Buyer is very upset with their agent. They have signed a Buyer Representation Agreement. How can I deal with this potential Buyer and stay out of trouble? …
Handling Commission Reduction Proposals
Question: Does a Listing agent have to disclose to other potential Buyers, if one Buyer’s Agent proposes to reduce his commission? Answer: The quick answer is “yes”, provided you agree …