Sentences with phrase «acting on behalf of the brokerage»

Pennsylvania court determines that it lacks jurisdiction over a California brokerage because there was no evidence demonstrating that the firm's salesperson was acting on behalf of the brokerage when he flipped a commercial property in Pennsylvania.

If a consumer has entrusted money to a real estate licensee or an unlicensed individual acting on behalf of a brokerage and that money has been misappropriated or wrongfully converted, intentionally not paid over or accounted for, or obtained by the fraud of that licensee or individual, the consumer may wish to make a claim against the Real Estate Special Compensation Fund.

Not exact matches

As one of the few brokerages with an in - house claims department, should you experience a claim, we will act as advocates on your behalf to ensure your claim is handled fairly and efficiently.

If the listing brokerage is responsible to collect the offers then are they to be seen to be acting on behalf of RECO, so as to avoid any Agency transition?

Then I told said potential buyers that they were free to engage another salesperson from another brokerage to act on their behalfs re negotiating an Agreement of Purchase and Sale with me.

If the Realtor on behalf of the brokerage acts like an agent of the buyer, example giving advice instead of just information (as would establish a customer relationship) then its the old, «if it walks like a duck... its a duck».

Since the broker wasn't acting on behalf of a third party, the court ruled that he wasn't offering brokerage services and therefore wasn't entitled to any compensation.

In transaction brokerage, the licensee acts as a neutral third - party assistant that provides help without acting on behalf of the customer.

As a real estate licensee, Fred should ensure his clients understand which of his services are regulated under RESA, which are subject to the Business Practices and Consumer Protection Act, and that any funds he collects on behalf of the clients will be held by his brokerage in segregated accounts.

Since Acme is acting on behalf of a third party for remuneration, it must hold a real estate brokerage licence.

The individual can not act as an independent contractor providing services to or on behalf of the brokerage.

In designated agency, the brokerage and its clients agree that one or more licensees engaged by the brokerage will be designated to act as sole agents on behalf of each client.

2.18 (1) Subject to subsection (2), an individual who is employed as a caretaker or manager by a strata corporation, or by a brokerage that provides strata management services to or on behalf of a strata corporation, is exempt from the requirement to be licensed under Part 2 of the Act in respect of collecting strata fees, contributions, levies or other amounts levied by, or due to, the strata corporation under the Strata Property Act.

Eastern Consolidated Properties, Inc. v. Lucas (285 A.D. 2d 421)- Supreme Court's order to dismiss broker's complaint reversed; broker's complaint sufficiently alleges that certain defendants have the authority to act on behalf of all defendants in the underlying real estate transaction; upon procuring a buyer ready, willing and able to purchase on the seller's terms, the broker has earned its commission and a seller who frustrates the consummation of the transaction is liable nonetheless to the broker; no requirement that a brokerage commission be in writing (GOL 5 - 710 [a][10]-RRB-

10.6 (1) Despite section 7 (1)(b), (3) and (5) of the Act, a controlling individual may be engaged by a personal real estate corporation to provide real estate services on behalf of a brokerage, and may receive remuneration in relation to those real estate services from the personal real estate corporation, if all the following requirements are met:

Salesperson - According to the Real Estate Trading Act, a salesperson is a person employed, appointed or authorized by a broker to trade in real estate on behalf of that Brokerage.

(e) a description of the records that are to be kept by the brokerage on behalf of the strata corporation, including an indication of which, if any, of the records required under section 35 of the Strata Property Act that the brokerage will retain on behalf of the strata corporation;

(c) the scope of the authority of the brokerage or a related licensee when acting on behalf of the strata corporation, including any authority to

In designated agency, the brokerage has contractual duties to the client but it is the designated agents who act as sole agent on behalf of the client.

Based on the explicit language of the agreement, the court ruled that it should have been clear to the Buyers that the Brokerage was not acting on their behalf in this transaction.

If operating under brokerage agency, this conflict exists either when two different licensees engaged by the listing brokerage work with the seller and the buyer respectively, or when one licensee (or a team of licensees) engaged by the listing brokerage to act on behalf of the seller / landlord is the same licensee (or team of licensees) who brings the buyer / tenant to the trade, i.e. a double - ender).

For example, a brokerage or a designated agent may act as a sole agent on behalf of one party (e.g. a seller) while treating the other party (e.g. the buyer) as a customer.

Under designated agency, a brokerage, with the agreement of these buyers, may appoint different licensees as the designated agents to act on behalf of these buyers who are interested in purchasing the same property.

Under designated agency, a brokerage and its clients agree that different licensees engaged by that brokerage may be designated to act as sole agents on behalf of clients whose interests may conflict.

the authorized financial scope of the brokerage or licensees when acting on behalf of the client,

The brokerage that receives money in connection with this transaction is authorized to pay such money to the Buyer's conveyancer, provided that such money is to be held in trust by the conveyancer as stakeholder pursuant to the provisions of the Real Estate Services Act, pending the completion of the transaction and not on behalf of any of the principals to the transaction, and should the sale not complete, the money should be returned to the brokerage as stakeholder.

Applicants for licensing who are providing real estate services under any of the exemptions listed in the Real Estate Services Regulation (see list below) must either start providing those services on behalf of their new brokerage, or stop acting under the exemption.

In brokerage agency, there is no designation of one licensee to act as a designated agent on behalf of one client while a different licensee acts as a designated agent on behalf of a different client.

Any individual who provides rental property management services to a strata corporation client on behalf of a brokerage must also either be licensed to provide rental property management services or be an unlicensed employee of a brokerage that is licensed to provide rental property management services, where the employee is acting under the «Exemption for caretakers employed by brokerages» in section 2.14 of the Regulation.

It is important to stress that the seller's / landlord's or the buyer's / tenant's informed consent is required before a brokerage or any of its related licensees acts on their behalf.

Obtaining informed consent before acting is also necessary if a brokerage or any of its related licensees wishes to alter an existing relationship; for example, to move from acting on behalf of only one party to a trade to acting as a limited dual agent on behalf of both parties.

how, with the agreement of a client, a brokerage may designate one or more licensees to act as designated agents to provide real estate services to or on behalf of a client; and