More than 94% of Ontario brokerages meet RECO’s new financial filing deadline
The vast majority of Ontario’s 3,800 brokerages met RECO’s new financial filing deadline, but those that failed to comply could face fines, suspension or registration revocation.
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New national association aims to close knowledge gap in Indigenous real estate
Byron McDonald/sourced from Facebook. For years, Byron McDonald has been troubled by what Canadian real estate professionals aren't fully grasping about First Nations reserve lands. When he entered the real estate industry in 2010, he was surprised to discover...
A form is no longer enough: What FINTRAC’s new penalties mean for your brokerage
Minor FINTRAC offences that once carried penalties of up to $1,000 per violation can now cost up to $40,000. Serious violations have jumped from $100,000 to as much as $4 million per violation. The implementation of Bill C-12 earlier this year drastically increased...
AI is changing real estate. RECO says the rules still apply
The Real Estate Council of Ontario (RECO) published new guidance outlining how real estate agents and brokerages should use artificial intelligence (AI) while meeting their regulatory obligations. The guidance, released in October, comes as AI becomes more common in...
Expensive energy, expensive debt: Canadians get the bill twice
On Oct. 28, the Bank of Canada raised its policy rate by a quarter percentage point to 2.5 per cent. In very simple terms, part of the bank’s reasoning is that businesses facing higher energy costs may soon charge more for their products and services. The bank...