Holiday Closure

The OREA office will close for the holidays at 12 p.m. Tuesday, December 24th.  Normal business hours will resume on Thursday, January 2nd.  Happy Holidays!

Holiday Closure

The OREA office will close for the holidays at 12 p.m. Tuesday, December 24th.  Normal business hours will resume on Thursday, January 2nd.  Happy Holidays!

December 5th - 2007

Legal Forum tops 3,000 questions

OREA’s online Legal Forum has hit another milestone.

OREA’s online Legal Forum has hit another milestone. Since its creation in 1999, Legal Forum has become the most popular page on the OREA Web site reaching 1,000 questions in 2004, 2,000 in 2006 to over 3,000 questions in 2007.
 
Part of this increase in popularity can be attributed to greater awareness among OREA members of the forum’s practical benefits over time. But, during the past year or so, when REBBA 2002 came into effect, the forum also received a marked increase in questions regarding the new Code of Ethics.
 
Questions are answered by well-known real estate lawyer Merv Burgard, Q.C., a graduate of Osgoode Hall Law School, member of the Ontario bar for over 30 years, and a regular contributor to many real estate publications. While not intended to provide legal advice or opinion, Legal Forum offers perspective on situations that commonly occur in a REALTOR®’s day-to-day business. Here’s a sample question from a recent posting:
 
Q: When the listing brokerage has a listing & has a commission or remuneration agreement that may affect if an offer to buy is accepted, then the details must be disclosed to any person who makes a written offer. Therefore it means the exact amount of money whether it is a % or specific amount (net dollars). Prior to this, the listing brokerage only had to discuss that they would be reducing their commission, correct?
 
Merv says...
That is correct; section 25 of the new REBBA Code of Ethics requires that the "details" be disclosed.
 
Search the forum
The Forum fields questions on a wide range of topics including commission entitlement, multiple offer or multiple representation scenarios, disclosures, advertising and promotion, grow house issues, condominium status certificates and many others. Before you submit a question, check if Merv has already dealt with the issue in an existing Forum question, by using the Legal Forum Search box. It is a great way to keep informed with what your peers are dealing with.
 
To submit a question, visit the OREA Web site at www.orea.com, log on to the members’ area and go to “LEGAL Forum”. You will need to include your first name and e-mail address and type in your question in the space provided. When your question and Merv’s response are posted on the Web site, you will be notified at the e-mail address that was submitted, so be sure to input the information correctly. Questions and answers are initially posted in both the Recently Asked Questions area, as well as under the appropriate Topic and Subtopic.

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For more information contact

Ontario Real Estate Association

Jean-Adrien Delicano

Senior Manager, Media Relations

JeanAdrienD@orea.com

416-445-9910 ext. 246

Ontario Real Estate Association
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The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.

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