Multiple Listing Service

Learning from an RECBC Discipline Decision #535

Starting in 2016, the real estate profession has seen numerous regulatory changes, including increased fines, new regulations, greater involvement from the Real Estate Council of BC (RECBC) and the elimination of limited dual agency. As a result, I have tried to focus many of my more recent articles on discipline decisions of RECBC. While discipline

Verify Accuracy in Listing Information #421

Legally Speaking

By Jennifer Clee Most REALTORS® and members of the public recognize the Multiple Listing Service® (MLS®) as an invaluable tool in the purchase and sale of property. The cooperative sharing of information on properties assists buyers search for suitable homes and sellers maximize the marketing exposure for their properties. Many buyers (and some REALTORS®) believe

Shopping Centre Lease – Injunction to Prevent Landlord from Demolishing Mall; Appraiser’s Failure to Red Flag Inexact Comparables was Negligent #345

Legally Speaking

By Gerry Neely B.A. LL.B The arrival of the “big box power centres” should lead owners or property managers of existing, enclosed mall shopping centres to reexamine their standard leases. Landlords may find the wording of typical clauses dealing with alterations and relocations of tenants’ premises limiting if they decide to change the physical structure

Commission – Purchaser’s Default #90

Legally Speaking

By Gerry NeelyB.A. LL.B. You have a listing agreement with a vendor, a binding contract of sale is signed but the sale collapses because of the vendor’s refusal to complete. The Courts will enforce your claim for commission even though the listing contract does not specifically state what your rights are where the vendor is

Clauses in the Offer to Purchase #8

Legally Speaking

By Gerry NeelyB.A. LL.B. The Offer to Purchase used by the Multiple Listing Service of the Victoria Real Estate Board contains the following clauses:” . . . Balance of cash payment to be deposited in trust by the purchaser by 5 p.m. on ____________,19__. Balance of cash payment to be made to the Vendor and