Before entering into a co-listing agreement, there are some important items REALTORS® need to consider…
Posts tagged with “Fiduciary Duties”
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Will Rogers defined the first law of holes as follows: “When you find yourself in a hole; stop digging…
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S was the owner-operator of both a real estate brokerage and a mortgage company which intermingled their business enterprises…
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A recent case illustrates the pitfalls awaiting brokerages and REALTORS® when choosing to act as a limited dual agent…
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A recent BC Supreme Court decision awarded damages against a REALTOR® for breach of fiduciary duty while acting as a limited dual agent…
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An agent’s duty of full disclosure to their client and the consequences of a breach of that duty were the subject of a recent lawsuit concerning deficiencies in a new townhouse…
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In a case where a licensee purchased property in her own name, a Supreme Court judge surprisingly found the licensee owed a fiduciary duty of disclosure to the sellers…
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A couple who agreed to purchase a yet-to-be-constructed condominium from a developer repudiated the agreement after it was built because their complaints could not be resolved…
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When the price of a property listed on the Multiple Listing Service® (MLS®) is reduced, what is the extent of a licensee’s obligation, if any, to give follow-up notice…
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It should be obvious that licensees cannot purchase property they know their clients want…
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A licensee called the B.C. Real Estate Association to ask for the result of the appeal referred to in Column #253, of a decision which declared void…
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An owner was ordered by a health officer to make repairs to, or replace, a malfunctioning sewage disposal system. Instead, he decided to sell the house and in doing so refrained from disclosing the problem…
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The extent of a licensee’s duty to provide market value for property a licensee knows he will list for sale, was discussed in a case where a lakefront lot, which was listed for sale at $35,000, was purchased…
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An interest rate in excess of 60% is illegal under Section 347 of the Criminal Code…
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Termites, latent defect, non-disclosure, breach of duty, fraudulent misrepresentation, and all occurring in Toronto. A young couple purchased a home in an area of termite…
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An unconditional offer from a purchaser flush with funds is as welcome as the first spring day in Dawson Creek and as rare as a double-ended commission…
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On January 15, 1988, you put on MLS a listing expiring April 14, 1988, for the sale of a commercially zoned corner lot at a price of $360,000.00…
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There are occasions when a licencee agrees reluctantly to pay part of a purchaser’s costs out of the licencee’s commission, to make a deal between a cash-short purchaser…
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A month later Adam and Nester were back in Noel’s office, this time with a letter from the vendor’s lawyer. The letter contained a consent…
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Legally Speaking Column No. 1 discussed the fiduciary relationship between the licencee and the person who has retained the licencee to sell his property. Those principles were examined in a recent case where the…
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In an Ontario case which arose because of a purchaser’s refusal to close a real estate transaction, the vendors were awarded S5,000.00 general damages for the “vexation, frustration, distress and anxiety, caused…