This is the explanation from RECO: “Content of competing offers A change most of you will have heard about relates to sharing the content of competing offers. Though the change …
TRESA Update: Short Delay
The new TRESA legislation will be delayed somewhat. It should come into force shortly. Phase 1 came into force and permitted registrants to use different words to describe themselves and …
A Brief Explanation of Designated Agency
We have to go back over 30 years. Sellers paid a commission to the Listing Brokerage which would then share it with a co-operating Brokerage. However, how they did this …
Consumer Relationships Guide in Alberta
TRESA We are expecting TRESA to be in force in Ontario on 1 April 2023, We are still expecting RECO to introduce and “Information Guide”. We are 10 days out …
When Does a Person become a Self-Represented Party?
Good question! That’s important because under TRESA, a registrant cannot provide services to self-represented parties. But, that’s limited to a “trade”. Other than that, no one cares! Once we move …
TRESA: Are You Ready for Open Bidding?
So, you are a Buyer and the Seller wants to “shop your bid”. In fact, they will go around and tell everybody what your bid was and everything else about …
TRESA: Customer relationships/Agreements not permitted
RECO published the following: “The definition of customer, along with the related provisions in the legislation, are removed. This means that a party to a trade will be either a …
Designated Agency is On its way
Possible TRESA Delay In fact, while it had originally been scheduled to be introduced in Part 3 of TRESA, it’s almost ready to go now. If so, that would delay …
TRESA: Facts a seller has a legal obligation to disclose
RECO explaining TRESA sets out the following: “Under TRESA, a new obligation is introduced that requires a registrant representing a seller to disclose facts to a potential buyer, if those …
TRESA Questions:
Questions: 1- How will this affect our day-to-day dealings with clients, self represented parties, and will it be okay to provide services such as sending listings to potential buyers, or …