Industry news

Articles of interest to real estate agents and brokerages, including guest articles relevant to the real estate sector. 

Sector Advisory: Agreements must comply with the legislation | December 19, 2023
RECO is aware that some brokerages are entering into agreements that do not comply with the legislation.

Legal Corner: Deposits play an important role in a real estate transaction | December 12, 2023
Two neighbours decided to sell their properties at the same time. They listed their properties for sale with the same real estate agent and brokerage.

Legal Corner: Consequences for failed promises | August 15, 2023
Registrants should be mindful that they are accountable for promises made to a client, and failed promises can have significant implications and consequences. 

Legal Corner: Falsifying documents result in disciplinary action l May 17, 2023
Falsifying trade-related documents can have significant implications and consequences for some, or everyone involved in the trade. 

Always verify identity to protect both you and your clients | February 14, 2023
Registrants are required to verify that the parties in a transaction are who they say they are, in accordance with the Trust in Real Estate Services Act, 2002 (TRESA).

Legal Corner: Property taxes – Get it right | December 19, 2022
It is critical that real estate agents always confirm details of a property using appropriate sources and never make an uninformed estimate on their own about any information in the listing notes. 

How the CAO helps real estate agents and condo buyers | December 15, 2022
Recent data reveals that nearly half of newly built homes in Ontario are condominiums. This is a guest article from the CAO.

Registrar’s Statement: Mortgage fraud is illegal | October 28, 2022
RECO is aware of recent allegations that some real estate agents and brokerages in Ontario are facilitating mortgage fraud. 

Legal Corner: Convey all offers, regardless of the timing, unless instructed otherwise | October 5, 2022
For listing representatives, proper handling of the offer presentation process is critical. 

Legal Corner: Listing agents must take reasonable steps to verify information about parking spaces | October 5, 2022
In a recent discipline decision, a listing agent was found to have made inaccurate statements about parking access.

Legal Corner: Mishandling of delayed offer presentation, pre-emptive offer and multiple representation leads to discipline | October 5, 2022
A property was posted to the local multiple listing service (‘MLS’) stating that offers would be accepted by email on August 31 at 5 p.m. and included a notation that the “seller reserves rights to review pre-emptive offers.”

Electrical safety and your clients | September 28, 2022
The Electrical Safety Authority (ESA) regulates and promotes electrical safety in Ontario so people can live, work and play safely, free from electrical harm. This is a guest article from the ESA.

Illegal building: The HCRA, Tarion, and you | May 18, 2022
Consumers want someone they can trust to guide them through the ins and outs of buying a home. But if you are selling a new home that was illegally built, you’re not only putting your clients at great risk, you’re also exposing yourself to potentially serious consequences. This is a guest article from the HCRA.