Minding Your Ps and Qs

Do any of the following situations bother you or your clients? Salespeople/brokers who: • do not return phone calls or do not return phone calls in a timely manner • are late for appointments and/or not calling clients to advise that they will be late • do not attend a showing and/or do not call … Continued

Are You Prepared?

Having completed the pre-registration segment, having registered with RECO, and having lined up a buyer or seller, do you now wonder “What do I do next?” Are you prepared to represent the buyer or seller? Although OREA Real Estate College incorporates real-world examples of trading in real estate in classroom, correspondence, and online instruction, the … Continued

Real Estate Forms Made Simple

Did you know there are 18 residential listing agreements (and related forms), seven agency agreements (and related forms), four residential lease agreements (and related forms), and 22 commercial forms? Can you name the four types of agency relationships? Can you explain the agency relationship with potential buyer or seller clients? If you cannot say yes … Continued

How much do you know about multiple offers?

Multiple offers occur when there are two or more competing offers for the same property. These usually occur in a seller market when demand is high and supply is low. There are rules and procedures governing multiple offer situations. How much do you know about them? For example, did you know that the listing brokerage … Continued

Everything You Should Know About Condos

You have just sold a unit in a new condominium building to a couple, who will take possession on an interim occupancy basis. The condominium is not yet registered. Will the buyers be required to pay a monthly occupancy fee? If yes, what would be included in that fee?  If you are not certain of … Continued

Click and Pick: 10 Principles of Privacy

It has been nearly 10 years since the federal government introduced the Personal Information Protection and Electronic Documents Act, 2004 (PIPEDA). The main purpose of PIPEDIA is to prevent businesses, including brokerages, from disclosing consumers’ personal information without their permission. Did you know that the Act codifies 10 principles of privacy that were introduced by … Continued

Continuing education is dead. A moment of silence, please.

If you believe that, then the increasingly competitive marketplace is going to feast on you. If you relied on mandatory credits to push you into the knowledge economy of the 21st century, then your productivity and effectiveness as a professional are going to tank. You can’t survive with just the “essentials.”  You need job-related continuing … Continued

Defects and the Importance of Disclosure

You have just listed a house for a seller client. The house has some defects. Some are obvious and some are not so obvious. Which defects would you disclose to potential buyers? • major leaks in the roof • dampness in the basement • aluminium wiring • a fence line that is not on the … Continued

Money Laundering

Would you be suspicious if a client inadequately explains the last minute substitution of the purchasing party’s name? How about if a client arrives at a real estate closing with a significant amount of money? You should be. These are examples of money laundering, defined as the process used to disguise the source of money … Continued

Condominiums – What Every Good Salesperson Should Know

How much do you know about condominiums? Can you answer the following True/False questions? You may have to explain these concepts to clients. 1. An agreement to purchase a brand new condominium unit from a builder can be rescinded within 10 days of receiving a disclosure statement and receiving an executed copy of an Agreement … Continued