Brian's Ontario Real Estate Blog

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Commercial Real Estate Agent - RE/MAX West Realty Inc., Brokerage (Toronto)

ARCHIVED BLOG POSTS

2017 

Signing the Acknowledgement in AdvanceQuestion:Is it OK to sign the Acknowledgement on standard form OREA Agreements of Purchase and Sale in advance. It would be a big timesaver?Answer:It is foolhardy to sign this Acknowledgement in advance.It just make you look negligent. It would be helpful to ...
04/20/2017
Ontario Government Places Agents on the Spot“Working with the real estate profession and consumers, the province is committing to review the rules real estate agents are required to follow to ensure that consumers are fairly represented in real estate transactions. This includes practices such as...
04/20/2017
Agent Fails to Pay Referral FeeSteve acted for his two buyers, Albert and Jane. He had a loyalty agreement signed, better known as a Buyer Representation Agreement or BRA for short.The BRA ran from July 25, 2014 and expired on October 25, 2014.  It also contained a 90 day holdover clause.Albert a...
04/15/2017
The Lost Deposit Cheque in OntarioQuestion:Firm Buyer deal. I’m the Buyer’s agent. I drop off the bank draft deposit cheque to (and payable to) the listing brokerage and get a receipt. Over a week later we get a call that the listing brokerage can’t find the bank draft. The Buyer goes to the bank...
04/14/2017
Commercial bond yields   CMB         GoC         Floating rateinsured cost of funds 5 Year - 1.48%Canada housing 06/15/22 [-0.02]       5 Year - 1.05%CAN 0.50 03/01/22 [-0.02]       0.99%                       [-]                        10 Year - 2.10%Canada housing 06/15/27 [-0.04]       10 Yea...
04/14/2017
Is Commission Payable for a Full Price Offer? (Ontario)Question:Is Commission Payable for a Full Price Offer?Answer:While it may sound strange, the Buyer’s Agent is entitled to the co-operating portion of the Commission based upon a full price Offer without conditions. The trigger for commission ...
04/13/2017
What Happens when Listing Agent Tries to Steal Your Client? (Ontario)Question:My client went to an Open House yesterday and the Listing Agent told him:"There are 5 offers. If you don't have an agent, I will represent you and make sure you get this house. Seller wants (list price+$350k)" My client...
04/10/2017
Working with a Realtor Form for Leases?Question:When listing a lease, do you get them to sign a Working with a Realtor Form 810?Answer:WWR is a strange document and doesn't meet the requirements of disclosure specified in the Listing Agreement. But, other than that, I suppose that's all there is,...
04/09/2017
Eight Leading Supreme Court of Canada Cases (Real Estate Course)Did you know that the Court set out the rules for implied agency over 20 years ago? That’s all about being an agent and not having any kind of paperwork to show for it. Most real estate agents never heard of the case. The decision go...
04/09/2017
Risk Management: Fighting Against Real Estate Malpractice Course  Did you know that the Court set out the rules for implied agency over 20 years ago? That’s all about being an agent and not having any kind of paperwork to show for it. Most real estate agents never heard of the case. The decision ...
04/09/2017
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Brian Madigan

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