Tag Archives: Real estate broker

Keep you Ontario real estate license – park your license with an Ontario real estate broker

Updated August 2017 with this piece of “real estate career advice“:

As the post referenced in the above tweet suggests, those intending to earn an Ontario real estate license should do so BEFORE the new Ontario real estate licensing process takes effect!

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The rules governing your registration as an Ontario real estate salesperson or Ontario real estate broker are found in two sources:

A. The Ontario Real Estate and Business Brokers Act (REBBA) ; and

B. The regulations made pursuant to the Real Estate and Business Brokers Act (REBBA).

Those who are seeking to become or maintain their license as a salesperson or broker should read the statute and the rules. In addition, you must understand the REBBA code of ethics (they are the source of many OREA exam questions).

Your Ontario real estate is  valuable. You worked hard to get it. You have worked hard to provide value to your real estate clients. It has been the key to your real estate career. It takes money and time (in the form of continuing education) to maintain it. In order to maintain your registration with RECO you must:

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How #Torontorealestate agents can ensure get value for commission paid

Those considering real estate as a career need to help clients get value for the commissions they pay. The article referenced in this raises some interesting points. Including:

There is virtually no situation in which you will end up paying just 1 per cent to sell your home – with one exception. That would be if you were to list with a discount brokerage that offered 1 per cent or flat-fee service and they were able to secure a buyer. They would thus be representing both buyer and seller in the transaction, a situation known as multiple representation, or “double-ending” in the real-estate world.

In most cases with a discount brokerage, you would be paying the listing brokerage 1 per cent plus an additional 2.5 per cent to the co-operating broker or “buyer’s agent” if listing on the Multiple Listing Service (MLS).

 

Should a #realestateagent offer opinions of the quality of neighborhood schools?

To buy a house is buy a location, to buy a neighborhood, to buy into a community. Those who make real estate a career undertake the obligation to know neighborhoods and communities. Knowing a community includes knowing:

– places of worship

– public transit

– clubs

– shopping

– schools

The article referenced in the above tweet is interesting. How far should a real estate agent go in evaluating local schools? What should the methodology for evaluation be?

The article includes:

Ms. Kostyniuk is taking useful measures of challenges to school achievement, and putting them with test scores so that similarly situated schools can be compared with one another. Her data are imprecise – far better data are available that show the demographics of the pupils, based on their home postal code. (At some schools, the numbers who come from outside neighbourhoods may be large enough to cast her conclusions in doubt.) But it’s unfair to impute discriminatory motives to her.

What do you think? Good idea? Bad idea? Does the school have the right to be angry?

Here is one response to the suggestion that real estate agents should make recommendations on schools.