New lending regulations came into effect in 2025 aimed at improving accessibility for both first-time buyers and existing homeowners. Changes include the expansion of eligibility for 30-year amortizations on insured mortgages to all first-time homebuyers and all buyers of newly constructed homes, an increase from the previous 25-year maximum. Additionally, ...
Continue ReadingFederal money laundering and anti-terrorist financing rules require real estate agents and brokers to collect personal identification information from buyers and sellers. It is the federal Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) that requires financial institutions and real estate agents, among other professionals and services covered ...
Continue ReadingReal estate transactions involve significant: financial commitments, legal obligations, negotiations, disclosures, and risk exposure. However, many consumers view representation agreements as simply: paperwork, administrative formalities, or documents designed primarily to protect the brokerage. In reality, properly structured representation agreements are intended to help protect consumers by creating: transparency, informed consent, ...
Continue ReadingCanadian real estate transactions are subject to anti-money laundering and anti-terrorist financing legislation designed to help protect the integrity of Canada’s financial system. As a result, real estate brokerages and registrants across Canada are subject to compliance obligations under legislation administered by FINTRAC — the Financial Transactions and Reports Analysis ...
Continue ReadingYes. Just like a Seller can represent themselves, so can a Buyer. In Ontario, REALTORS® usually work with Buyers in one of 2 ways. The most common relationships are “client” and “customer”, but other options may be available in the marketplace. A Buyer’s Representation Agreement acknowledging a Client relationship is ...
Continue ReadingWhen you suffer damage to your property or its contents, you expect your insurance company to help you out. And, most do a good job of doing just that. Still, it’s a good idea to review your policy with your insurance advisor and find out what’s covered and what isn’t. ...
Continue ReadingWhen you are looking to buy or sell a property or business with a registered real estate salesperson or broker, you may be asked to sign a buyer or seller agreement. Simply put, a buyer’s representation agreement is a contract signed between a prospective real estate buyer and a real ...
Continue ReadingCan a buyer work with multiple real estate agents? Yes, a buyer can work with multiple agents as long as they don’t have a written exclusive (buyer representation) agreement with an agent or an agreement for same services from multiple REALTORS®. The most common service agreement would state that a ...
Continue ReadingAs multi-generational families are opting to live under one roof, homeowners may want to renovate to accommodate this growing demographic. Here are some tips to create an inviting home, while also maintaining universal appeal for all occupants regardless of age. Keep your options open When planning renos, keep your floor ...
Continue ReadingReal estate transactions often involve significant: financial commitments, legal obligations, negotiations, timelines, and long-term consequences. However, many consumers are unclear about: the role of a real estate brokerage, what services should reasonably be expected, and how professional representation is intended to protect consumers throughout the transaction process. A real estate ...
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