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Mortgage Fraud in Ontario Real Estate: How Buyers, Sellers and Property Owners Can Recognize the Risk
Most people entering a real estate transaction do not imagine themselves becoming involved in mortgage fraud. The phrase tends to bring to mind stolen identities, forged documents, artificially inflated property values or organized schemes involving properties and borrowers who may not even know one another. Those situations certainly occur, but ...
Continue ReadingMultiple Offers in Ontario Real Estate: How Buyers and Sellers Can Make Better Decisions in a Competitive Offer Process
Multiple offers can change the atmosphere of a real estate transaction very quickly. A buyer who has spent several days carefully evaluating a property may suddenly learn that four or five other written offers have been submitted, while a seller who expected a relatively straightforward negotiation may unexpectedly find several ...
Continue ReadingCommission Reduction Agreements in Ontario Real Estate
When a seller hires a real estate brokerage to market and sell a property, the representation agreement establishes how the brokerage will be compensated for the services it provides. Depending upon the arrangement, the agreement may also address remuneration payable to another brokerage involved in bringing a buyer to the ...
Continue ReadingFrom Operational to Strategic Governance: Understanding Transitional and Hybrid Governing Approaches
Organizations rarely move from one governance model to another overnight. A business, brokerage, professional practice or other organization may recognize that its existing approach to governance has become too operational, too dependent on individual decision-makers, or too focused on managing immediate issues. Leadership may want to establish a more strategic approach ...
Continue ReadingHow to Quickly Improve Indoor Air Quality
Unfortunately, air quality alerts are becoming a more common occurrence these days. Aside from that, there are many reasons why the air quality in your home may not be at its best. Maybe it’s a faulty furnace or an aged carpet to blame. Until you get those issues addressed, how ...
Continue ReadingCould Artificial Intelligence Change How Real Estate Tax Compliance Is Enforced in Canada?
Artificial intelligence is changing the way information can be reviewed, compared and understood. In real estate, that development may eventually have implications extending well beyond property searches, valuations and marketing. One of the potentially significant applications is tax compliance. Real estate transactions generate enormous amounts of information. Properties are purchased and sold, ...
Continue ReadingSophisticated Real Estate Negotiations Involve More Than Price Alone
When people think about negotiating a real estate transaction, price is usually the first issue that comes to mind. Buyers naturally want to know how much they will have to pay, sellers want to know how much they will receive, landlords focus on rent and tenants consider occupancy costs. Price ...
Continue ReadingThe Risks of Improper Tenant Screening in Ontario
Choosing a tenant is one of the most consequential decisions a landlord makes. Once a residential tenancy begins, the relationship may continue for many years, during which the landlord is relying on the tenant to pay rent, reasonably care for the property, respect other occupants and comply with the tenancy ...
Continue ReadingCan a Real Estate Commission Rebate Have Tax Consequences?
Commission rebates can be an attractive part of a real estate representation arrangement. Depending on the agreement between the client and brokerage, a portion of the remuneration earned on a transaction may be returned to the buyer after the purchase is completed. For someone already making a substantial investment in ...
Continue ReadingOREA – Fighting for Fair Housing
The report from the Ontario Real Estate Association’s Presidential Advisory Group on Diversity, Equity and Inclusion. The overarching goal of the PAG is to identify where systemic racism occurs in the real estate and housing sectors... Over the past two years, a racial reckoning has taken place, triggered by a number ...
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