There are nearly 40,000 real estate agents in Toronto; that is one agent for every 140 Torontonians! In Vancouver, the numbers are even more staggering – one agent for every 61 Vancouverites. It helps, of course, that the market is sizzling hot, but across Canada, the competition among realtors is ...
Continue ReadingThe report from the Ontario Real Estate Association’s Presidential Advisory Group on Diversity, Equity and Inclusion. The overarching goal of the PAG is to identify where systemic racism occurs in the real estate and housing sectors… Over the past two years, a racial reckoning has taken place, triggered by a ...
Continue ReadingAre you looking to transfer real estate property during your lifetime to your children? Maybe your rental property or a cottage? First of all, yes it’s possible, but take the time to evaluate all the possible scenarios. There are many solutions available and they all come with their share of ...
Continue ReadingMany home sellers are looking for ways to make more out of the sale of their home. Because houses represent one of the largest purchases in many Canadian’s lives, it’s only natural for you to want to make all that you have put in (plus some, if the market is ...
Continue ReadingThis post deals with the topic of REALTORS® receiving and/or paying referral fees to third parties who may not be directly involved in a real estate transaction. Depending on the specific situation, this may not be permitted under the Real Estate and Business Brokers Act, 2002 (REBBA 2002) and in other situations written ...
Continue ReadingMost buyers hope their real estate transaction will proceed smoothly: the offer is accepted, financing is approved, the property closes, and everyone moves forward successfully. However, real estate disputes and litigation can arise when: expectations are unclear, risks are underestimated, documentation is weak, due diligence is incomplete, or contractual obligations ...
Continue ReadingAn Agreement of Purchase and Sale (“Agreement”) may not be completed for a number of reasons, including unsatisfied conditions relating to matters such as financing, rezoning approval, a home inspection or the sale of a buyer’s current home. This failure to satisfy a condition may raise an issue about the ...
Continue ReadingThe Protecting Tenants and Strengthening Community Housing Act, 2020 amends the Residential Tenancies Act, 2006, the Housing Services Act, 2011, the Building Code Act, 1992 and repeals the Ontario Mortgage and Housing Corporation Act. Originally posted on July 22, 2020 The changes to the Residential Tenancies Act, 2006 (RTA) strengthen protections ...
Continue ReadingWhen working with a REALTOR® it is important to understand who the REALTOR® works for. To whom is the REALTOR® legally obligated? The Agency Relationship REALTORS® are governed by the legal concept of “agency.” An agent is legally obligated to look after the best interests of the person he or she ...
Continue ReadingUnderstanding the delayed offer presentation process Delayed negotiations, used appropriately, can be a powerful tool when it comes to selling a home. Done right, this tool is a plus for buyers too. So how do you know if delayed negotiations are right for you? First, talk to your real estate ...
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