Strata Fundamentals – Part 1
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Strata Fundamentals – Part 1

6 PDP credits – Full Day

Sales indicate that more people are buying strata properties than ever before and the first-time buyers are heavily represented in the strata market. Strata-titled transactions are far more complex than the sale of a single-family detached home, and have both obvious and hidden risks. REALTORS® need to be able to understand the complexities associated with the sale or purchase of strata properties to provide clients with accurate information to make informed decisions.

Strata Fundamentals – Part 1 provides a comprehensive introduction to the complexities involved in the strata transaction including how strata properties are identified and the types of strata documents involved. It also talks about the governance of the strata corporation and the role of the REALTOR® in strata transactions

By the end of the course, the learner will be able to:

  • understand what strata is and the various features of strata properties;
  • anticipate the common challenges of working with strata-titled properties;
  • identify the unique physical features of a strata property and the key components of a strata plan;
  • differentiate between bare land and building strata plans;
  • understand strata governance and roles of all the players involved in a strata transaction, including the REALTOR®;
  • recognize some of the red flags that may appear in strata documents, and how they may impact the strata lot, the strata corporation, and the client;
  • work with a client's profile to ensure they know what issues to consider, and what questions to ask regarding the purchase or sale of the strata lot; and
  • define the REALTOR®'s role in a strata transaction.

Instructors:

Contact your local member board for course availability and registration.