The offer process is one of the most complex aspects of trading in real estate. A high proportion of complaints to the industry regulator, the Real Estate Council of Ontario (RECO), pertain to the handling of offers.
To learn more about offer handling issues and professional conduct, you can take part in an upcoming web seminar (webinar) offered by the Ontario Real Estate Association (OREA). This live webinar for OREA members features guest participant John Burnet, RECO manager of complaints, compliance and discipline, on Tuesday, April 19 at 1:00 p.m.
“Although you may be involved in offer presentations on a regular basis, your clients are likely unfamiliar and a little overwhelmed by the process,” states an article on the RECO website from the Most Common Complaints Spotlight Series. “A good way to think about offer handling is to ask yourself whether the process is, and appears to be, fair, ethical, open and transparent. Using these guiding factors, and thinking first and foremost about the duties that you owe to your client, will go a long way in helping you avoid becoming part of the complaints process.”
This 30-minute webinar will cover the following:
- Steps in the offer process and how to handle the variables and people in it;
- The July 1, 2015 amendment to the Real Estate and Business Brokers Act (REBBA) 2002 -- offer retention and offer representation;
- Your actions and how they affect your brokerage’s compliance;
- Multiple offer issues – obligations of transparency, fairness and honesty;
- Illegible offers, and the myth of ‘clarity’ copies;
- Disclosure on competing offers and changing ‘number of offers’;
- Reasonable time for offer responses, presentations, and negotiations talks; real estate etiquette;
- Handling multiples: Multiple Representation, multiple buyers, multiple offers, and multiple clients in a brokerage; and the obligations of the listing brokerage to other brokerages in these situations.
This webinar is just one in a series related to standard forms that is being presented by OREA to members this year. It will be led by Cassandra Agnew Walker, senior manager, standard forms, at OREA. The webinar is free and available to OREA members. All you need is a computer with working speakers and internet access.
Like all of the webinars, the format for this topic will be interactive. You can submit questions, listen to speakers and watch slides related to the topic. Those who cannot participate in the seminar on the date offered can watch a recorded version at a later date and time convenient to them. A recording of each webinar will be available on the Webinars and Tutorials page in the members’ section.
Webinars will be held once a month, on the third Tuesday of the month at 1:00 p.m. OREA members can register in advance in order to obtain a login link for the webinar. On the day of the webinar members can log in up to 30 minutes before the scheduled start time. Participation in the live webinars will be on a first-come-first-served basis. Visit the members’ section of www.orea.com and check out the Standard Forms section.
Upcoming seminars on standard forms
Real estate: More than just sales
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