(Ontario) Question: I would like to know what things my assistant can do. They are not registered. Answer: They can do everything except what is “Trading in Real Estate”. Here’s …
Placing the Deposit in the Trust Account
(Ontario) Question: When a deposit is provided “herewith” with an offer by a Buyer, does the 5 day deposit requirement start the next day or the day after the final …
The Role of the Organizations in the Fair Rules Business
Assuming that we are to come up with a series of “fair rules” for multiple offers and multiple representation, which organizations should be involved? We have a few to choose …
Seller who is Real Estate Agent: Obligations to Disclose
(Ontario) Question: Doing a deal where the agent is also the Seller. She disclosed UFFI and knob and tube but only in the hallway and said she had a previous …
Agent’s Negligence: Breach of Fiduciary Duties at Common Law
These errors or omissions are really by far the most common and frequent mistakes that real estate agents will make. Agency Obligations at Common Law There are some fundamental and …
Agent’s Negligence: Breach of Code of Ethics
There are a number of potential transgressions under the Code of Ethics which would support a claim in negligence against an agent. Agency Obligations under the Act and Code of …
Agent’s Negligence: Breach Real Estate and Business Brokers Act, 2002
Another source of laws involving real estate Agents is the Real Estate and Business Brokers Act, 2002. Some of its provisions offer an important grounding for negligence claims. Disclosure of …
Real Estate Agents’ Liability in Negligence: Various Grounds
It’s entirely possible for real estate agents to make some mistakes, just like everyone else. But, when they do something in their professional practices that causes someone some financial loss, …
Three Models for Bidding in the Real Estate Industry
Essentially, there are three possible models to choose from for the real estate industry: Open Bidding System, Closed Bidding System, Cheating Bidding System. The Open Bidding System This system works …
Rules Related to Signing Representation Agreements in Ontario
Buyer Representation Agreements There are 4 steps to be followed. If a brokerage enters into a buyer representation agreement with a buyer and the agreement is not in writing, the …