Montreal-based Centris is launching Simple Notice, a new tool that allows real estate brokers and their clients to send notices of fulfilment of conditions by email and text message, when buying or selling a property.
“This is a big step for the brokerage industry, as no such method currently exists,” says Éric Charbonneau, president of Centris.
When a buyer submits a conditional offer, the condition must be fulfilled within a specified time frame, failing which the sales agreement will come to an end. Simple Notice allows all parties who are registered with the tool and related to the transaction – real estate brokers and their sellers and buyers – to be immediately notified of the fulfilment, or not, of a condition.
Centris says the tool facilitates communications between parties and eliminates delays caused by existing traditional processes, such as the use of telegram services and bailiff companies. It says these traditional methods are used in cases where a first conditional offer is made and then a second accepted conditional offer is made on the same property. “The first buyer must be notified that they have 72 hours to fulfill their condition, failing which the sale will go to the second buyer,” says Centris. “Simple Notice will therefore enable urgent communications to proceed efficiently.”