In order to become a real estate professional candidates must successfully complete a comprehensive program of study to prepare them for the complex business
of trading in real estate.
This was a commercial
trade in real estate in 2012, so while a written service agreement was not mandatory, such agreements are still a best practice for commercial real estate professionals.
A common conflict that arises is when the same licensee is representing both the seller and the buyer in the
same trade in real estate.
Individual industry professionals can't
trade in real estate without being registered with a brokerage, and they must trade in the name of and on behalf of the brokerage.
(2) The maximum amount that may be paid under subsection (1) in respect of a
single trade in real estate is the amount prescribed by regulation.
Furthermore, longer transaction times removes
emotional trading in real estate, and there's more visibility into expected earnings from a real estate investment.
Similarly, while a real estate licence permits an individual to provide services related to
trades in real estate throughout the province, that does not mean licensees are always competent to do so.
Any consumers interested in out of province listings must contact a person who is licensed to
trade in real estate in that province.
Whenever a licensee attempts to act for more than one party involved in the
same trade in real estate, a potential conflict can arise.
It is illegal to
trade in real estate without being registered or licensed, commissions or fees derived from same are not just taxable but can be fully recovered.
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.
In 2014, the Court of Queen's Bench granted RECA an injunction against Derek Johnson and his associates, ordering them to cease and
desist trading in real estate and dealing in mortgages without a licence.
Although, common sense dictates Managers should be licensed, it should never be allowed to fall under RECO unless they are required to become licensed to
trade in real estate as well.
The Council has robust rules in place relating to
personal trades in real estate, disclosure, contract assignments, and fulfillment of fiduciary duties.
Why do registrants licenced to
trade in real estate need to be members of a triumverate of over-arching, overlapping organizations at all?
As professionals, salespeople and brokers must be employed by a real estate brokerage and must be registered with their provincial Real Estate Council, in order to
legally trade in real estate in their home province.
726 — Any ADVERTISEMENT or incentive or the offering of any incentive or the participation in an incentive program to the public as an inducement to
trade in real estate undertaken or authorized by a registrant shall not be: (a) false; (b) inaccurate; (c) reasonably capable of misleading the recipient or intended recipient;
If Rogers says it is not a gift... Then they are paying commissions to non licence
people trading in real estate which is not allowed by our governing body rules.
It's a banal and ludicrous argument to be making and it's only being made because someone who is paid to
trade in real estate wants to have the Government to effectively reduce their competition by denying private sellers, and conversely buyers, the right to sell and buy property clearly protected in (b)(9)(3).
When a «VOW» doesn't actually or
literally trade in Real Estate and instead relies on those that do for, at least, some of its revenue, is the «VOW» s suggested entitlement to Real Estate Industry data a Competition Bureau Issue — if they're (VOW) seeking to profit off of professional Real Estate, as opposed to competing within it?
He was fined and placed on probation and on Dec. 16, 2015, his registration was terminated and he has not been registered to
trade in real estate since then.
RECO is responsible for governing registrants ONLY and have NO POWER over any Ontarian (unless they are
illegally trading in real estate), that power is reserved for the courts.