From time to time the issue of “related parties” arises. There is an obligation upon real estate agents to disclose a direct or indirect interest in a real estate transaction. …
Are you related to my cousin Vinny?
Related Parties under REBBA Are you related to cousin Vinny? Well, you were until 31 March 2006 and now you’re not. That’s the “correct” real estate answer! Who are you …
Dual Agency: Resolved
There are certainly some problems with dual agency, the most critical of which is the inherent unresolvable conflict of interest. But, even if it cannot be resolved, perhaps a suitable …
Who is Your Agent under TRESA?
Interesting question! It always used to be “the Brokerage”. The correct answer under TRESA would be: 1) “the Brokerage”, as above, or 2) the “Designated Agents”). Brokerage Representation This is …
What Title Can You Use?
What description or title can you use if you are in the real estate business? It used to be “Salesperson” etc. or “Broker” if you took a few additional Courses. …
TRESA: How Do You Pronouce it?
There is a new Trust in Real Estate Services Act, which updates and replaces the Real Estate and Business Brokers Act, 2002. The new Act will govern the activities of …
Pre-emptive Offers and Notification
Question: If on a listing, the Listing Agent has mentioned that they are taking offers on X date and time but Sellers have the right to take/review any preemptive offers. …
Complaints About Real Estate Agents
There actually is a list. RECO has compiled a list of complaints made to it about real estate agents. Here’s an excerpt from the 2022 Annual Report: “TOP COMPLAINTS Registrants …
Lots of Competition Out There
Number of Real Estate Agents There are a lot of people in the real estate business. In fact, 109,627 * (according to RECO 2022 Annual Report) registrants in total as …
Transparency under TRESA
TRESA now permits a Seller’s representative to share content, some content, or a little bit of content with all other bidders whether the Buyer consents or not, just not identifying …