When a seller hires a real estate brokerage to market and sell a property, the representation agreement establishes how the brokerage will be compensated for the services it provides. Depending upon the arrangement, the agreement may also address remuneration payable to another brokerage involved in bringing a buyer to the ...
Continue ReadingOrganizations rarely move from one governance model to another overnight. A business, brokerage, professional practice or other organization may recognize that its existing approach to governance has become too operational, too dependent on individual decision-makers, or too focused on managing immediate issues. Leadership may want to establish a more strategic ...
Continue ReadingArtificial intelligence is changing the way information can be reviewed, compared and understood. In real estate, that development may eventually have implications extending well beyond property searches, valuations and marketing. One of the potentially significant applications is tax compliance. Real estate transactions generate enormous amounts of information. Properties are purchased ...
Continue ReadingWhen people think about negotiating a real estate transaction, price is usually the first issue that comes to mind. Buyers naturally want to know how much they will have to pay, sellers want to know how much they will receive, landlords focus on rent and tenants consider occupancy costs. Price ...
Continue ReadingChoosing a tenant is one of the most consequential decisions a landlord makes. Once a residential tenancy begins, the relationship may continue for many years, during which the landlord is relying on the tenant to pay rent, reasonably care for the property, respect other occupants and comply with the tenancy ...
Continue ReadingSelling a home is one of the largest financial transactions many people will undertake, so it is understandable that homeowners pay close attention to the cost of selling. When interviewing REALTORS®, sellers may encounter different commission structures, flat-fee arrangements, limited-service offerings and professionals describing themselves as providing “full service.” The ...
Continue ReadingReal estate transactions rarely involve only a buyer, seller and REALTOR®. Depending on the property and transaction, clients may also need lawyers, mortgage professionals, home inspectors, appraisers, contractors, surveyors, environmental consultants, movers, staging professionals and other specialists. It is therefore perfectly normal for clients to ask their real estate representative ...
Continue ReadingReal estate transactions involve a surprising number of contracts and related documents. Buyers and sellers naturally tend to focus on the Agreement of Purchase and Sale because that is where the price and many of the most visible terms of the transaction are recorded, but the agreement is usually only ...
Continue ReadingAn accepted offer does not always mean that every question surrounding the purchase has already been answered. Buyers may still need to confirm financing, investigate the physical condition of the property, review condominium documents or obtain information about another matter that could affect their decision. Sellers can also have circumstances ...
Continue ReadingOlder homes can offer features that are difficult to reproduce in newer construction. Established neighbourhoods, larger lots, mature landscaping, distinctive architecture, solid materials and unique interior details can all make an older property particularly attractive. The challenge for a buyer is not necessarily that an older home requires repairs. Almost ...
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