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OREA head calls for reforms in REBBA after exposé

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Ephraim Vecina | 09 Nov 2016, 08:15 AM Agree 0
Among the changes that OREA CEO Tim Hudak is pushing for include stiffer fines and greater powers for the provincial real estate regulatory body
  • | 09 Nov 2016, 11:44 AM Agree 0
    Terminate their licenses...........solves the problem really quickly
  • Alex V. | 09 Nov 2016, 12:26 PM Agree 0
    Double ending a real estate transaction is a conflict of interest and should not be allowed. It serves only one person and one purpose and that is to put more money in the agent's pocket.
  • Max Cafissi | 09 Nov 2016, 02:15 PM Agree 0
    Increasing fines is not the answer. Eliminating "bidding wars" is the answer. If a Seller wants to sell his/her property to the highest bidder, hire an Auctioneer, not a Professional Realtor. Realtors who promote and encourage bidding wars should not be in this Profession. Likewise, "double ending" should be outlawed. Real Estate is the most "unprofessional" Profession. Higher educational standards are required and RECO should be disbanded. No Profession should be allowed to Police itself. I'm a Realtor and I approved these comments.
  • Tommy | 09 Nov 2016, 11:02 PM Agree 0
    To Max Cafissi..........are you a Realtor ?
    So you are a Realtor who is working in an unprofessional profession.
    And you approve your comments.....
    Max you have some loose screws.....
  • John N. | 10 Nov 2016, 07:31 AM Agree 0
    I have been a Realtor for almost 30 years. There is nothing wrong with bidding wars on a property. It actually gives more buyers the chance of owning that property. The problem is the crooked agents that take advantage of this. Doubling fines will only affect those caught doing fraudulent acts. Informing the public that they have recourse if they feel they have been wrong would deter bad practices. Perhaps a brochure on the buyer and seller rights and remedy solutions should be made available and used in all transaction. The Realtor would have to have signatures from all participants that they received it. To me that would make an agent think twice about his or her conduct.
  • Lex | 13 Nov 2016, 12:50 PM Agree 0
    When I was selling in Calgary they had a good system when it's a multiple offer and you have your own offer your broker must deal with all offers and you become one of the people bidding but don't get to know what others are offering that made it fair for all. I believe it can be improved on by having a few people from the real estate board to mediate with all multiple offers.
    I totally agree educating the public is the best way. 80% or more consumers out there don't have a clue what to expect from professional realtors. Their is no real clear cut on what is the basic service or what is great service. The public has no clue to what is going on as all realtor offer some what of a different service from the other. If they don't know what is good basic service how would they know bad service?
  • Jmi | 23 Nov 2016, 05:02 PM Agree 0
    Here is another angle to consider - as Agents we and the Brokerage are insured. If an Agent is convicted of a wrong doing their insurance premium should reflect that, not just their deductible. At the same time the Brokerage's insurance premium should increase due to their lack of monitoring/controlling their Representatives. Right now it is a same premium for all - bad actors - exemplary Agents all pay the same premium. Think car insurance - lots of convictions and your premiums continue to rise - drive without insurance and pay even a bigger price. I have been in this business for over 35 years and would welcome a change like this - fortunately there are thousands and thousands of top notch Agents out there doing their job for their Clients but unfortunately the spot light is focused on the very few bad actors and Brokerages that continue to employ them.
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