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The Public Doesn’t Understand “Customers”

by on January 4, 2012

Customers ~ Who are they? Ontario Real Estate Source By Brian Madigan LL.B. No one outside the real estate industry seems to know the difference between clients and customers. In fact, once explained, most seem to think it is absurd, and to say the least a little unfair, and perhaps a “ruse” by the real [...]

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Agent Liability under the REBBA 2002, Code of Ethics

by on July 7, 2010

Liability of the Real Estate Practitioner: Code of Ethics Brian Madigan LL.B. (Ontario Real Estate Source) A real estate practitioner is one who is registered under the Real Estate and Business Brokers Act, 2002. The Act includes a Code of Ethics that has been passed as a Regulation, the relevant sections of which are reproduced [...]

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Related Parties in Real Estate

by on April 26, 2010

Related Parties Under REBBA 2002 Related Parties under REBBA By Brian Madigan LL.B. Are you related to cousin Vinny? Well, you were until 31 March 2006 and now you’re not. That’s the “correct” real estate answer! Who are you related to? That seems to be a simple enough question. However, the entire matter of who [...]

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Disclosure Laws and the Use of the SPIS

by on March 4, 2010

Disclosure Laws and the Use of the SPIS By Brian Madigan LL.B. I am pleased to announce that I have been designated by the Real Estate Council of Ontario as an Education Provider pursuant to the provisions of the Real Estate and Business Brokers Act, 2002 (Act). I am also pleased to announce that the [...]

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Realtor’s Disclosure Role

by on February 5, 2010

Real Estate Agent ~ Disclosure Issues By Brian Madigan LL.B. There are basic rules that apply to realtors concerning disclosure. Everyone who is permitted to trade in real estate under the Real Estate and Business Brokers Act, 2002 is subject to both the common law and the RECO Code of Ethics. Organized real estate, and [...]

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Agent Releases Key without Consent

by on October 8, 2009

Agent Releases Key without Consent By Brian Madigan LL.B. You would think this would be very straightforward. Don’t release the key until you have permission. In this particular case, there was a rather reckless disregard of the seller’s wishes, and a cavalier attitude on the part of the agent. The agent was acting for both [...]

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Agent Reveals Private Agreement without Consent

by on October 7, 2009

Agent Reveals Private Agreement without Consent By Brian Madigan LL.B. Well, what do you think is going to happen here? The answer is: pay a $4,000 fine and take a course in ethics. Ms. Jones and Ms. Smith both worked at XYZ Realty. Ms. Jones had the listing and Ms. Smith acted for the buyers. [...]

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Agent Conceals True Commission Agreement

by on October 7, 2009

Agent Fails to Disclose Side Agreement about Commission By Brian Madigan LL.B. You might think that by now, most agents would be up to date with the laws related to real estate commissions. Recently, an agent had a listing and had two offers, one where he represented the buyers and another from a third party [...]

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