As previously discussed, we are going to have a conflict effective 1 April 2023 when the new TRESA Regulations come into effect. This is the new provision: “Disclosure of facts …
Conflict between the Code and Fiduciary Duties at Common Law
Under existing legislation, all the obligations of an agent under the Code of Ethics and under the common law were consistent. The Code reflected the common law. Now, we are …
Information Guide under TRESA
An important new step with the TRESA legislation is the preparation of a new Information Guide for Consumers, which will explain the Act, RECO, the role of the real estate …
Third Party Disclosure of Material Facts
TRESA Now, we actually come to a breach of an agent’s fiduciary duties to their own client. Previously, under the old Code of Ethics, there was no such provision. Now, …
Client Disclosure of Material Facts
TRESA This provision is changing with TRESA. Old Code Material facts 21. (1) A broker or salesperson who has a client in respect of the acquisition or disposition of a particular …
Disclosures under the Act and Regulations
General Regulation under TRESA There are some policies and procedures set out in the legislation which are new to Regulation 567/05 being the General Regulation, including a paragraph dealing with …
Code: Where Did All the Provisions Go?
There was a Code of Ethics under REBBA, 2002. Then, there were some changes, and a New Code under TRESA will become effective 1 April 2023. It’s much shorter. So, …
Auditor General’s Report: Multiple Representation
Comments: Multiple Representation It seems clear that the Auditor General doesn’t like multiple representation: Rather than take the law as it is, and focus on RECO’s own responsibility, this broad …
What About Designated Agency for Ontario?
Designated Agency was enacted in Nova Scotia effective 1 January 2017. Can Ontario be far behind? CBC Marketplace in 2016 did an expose about conflicts of interest in certain real …