In Firepower Debt GP v. TheRedPin, the Ontario Court of Appeal grappled with the question of what happens to a real estate agent’s uncollected commissions when their real estate brokerage becomes insolvent.
When a buyer fails to close a real estate transaction and the seller is awarded damages, should the seller credit the deposit to the damages award or should the seller be allowed to keep it in addition to the award?
When acting for both a seller and a buyer, what duties does a real estate agent owe to his or her clients if a property disclosure statement, known as a Seller Property Information Sheet (SPIS) in Ontario, is signed?
REM (Real Estate Magazine) is Canada’s premier monthly magazine for real estate professionals. REALTORS®, real estate agents, sales representatives, brokers, owners, administrators, and other real estate industry stakeholders read REM every month for news, analysis, and commentary on Canadian real estate.
REM is independently owned and operated, and is not affiliated with any real estate association or board.