Public articles
Signing a brokerage contract to sell, purchase or lease
When the owner (natural person) of a residential immovable containing less than five dwellings chooses to sell through a real estate agency or a real estate broker acting on his own account, he must sign a brokerage contract. The same applies to the buyer if the broker wishes to ask him for compensation and to the lessor concerning lease matters. This agreement gives the agency or broker the right to act as the exclusive or non-exclusive intermediary for a specific period.
Establishing the right selling price
One of the essential tasks of the real estate agency or broker is to help the owner establish a realistic selling price. Sometimes, the price requested is inadequate because the seller lacks information. To establish the property's fair market value, the real estate agency or broker may perform a comparative analysis with other similar properties on sale or recently sold in the vicinity.
Promise to purchase and financing of an immovable
Financing can make or break a real estate transaction. Therefore, in order to properly advise his clients, it is important that a real estate broker fully understand the obligations relating to new hypothecary loan.
Saying NO to real estate fraud
In the course of his daily activities, a real estate broker comes into contact with a large number of clients and uses many forms to transact real estate. Because he is at the center of these transactions, he plays a key role, representing either the seller, the buyer, or the borrower.
The real estate agency or broker working for a builder or developer
To what extent a real estate agency or broker may sell new houses for a builder or developer? First, it is essential to state that acting as an intermediary between a buyer and a builder in the purchase of a new house in exchange for compensation constitutes real estate brokerage within the meaning of the Act.
Obligations of real estate brokers and agencies: High-risk areas for pyrite
Pyrite is an iron sulphide molecule present in the stone fill used in construction. It may therefore be found around foundation drains and under the concrete slabs of the cellar or the garage. Under certain conditions, pyrite can oxidize and produce a sort of white powder that swells, causing, among other things, the slab to lift and producing cracks in the foundation and partitions. These problems may appear several years after construction.
House for Sale by Owner
When seeing a "House for Sale by Owner" sign, you initiated the conversation with the owner and offered to do business with him to sell his property. He then tells you: "I do not want to know anything about a brokerage contract, but if you find me a buyer, I'll give you a little something.” Despite that, you start looking for the future buyer, obviously unaware that this approach could cost you a lot.
The real estate broker’s right to compensation after the expiry of the brokerage contract
The Info OACIQ information centre often gets calls from selling owners inquiring about the risk of signing a new brokerage contract upon the expiry of the initial contract. They wonder if they are therefore released of their obligation to pay compensation under the first contract.
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