Dear David: Can a non-agent use Realtor paperwork to buy a piece of property in Ontario? – CURIOUS
DEAR CURIOUS: No. The real estate forms that Realtors use are owned and developed by the Ontario Real Estate Association (OREA) for Realtor or licensee use only. Members of the public are not at liberty to use them outside of a Realtor relationship.
It is possible to find various OREA forms online. I did a quick search and found versions dating back to 2012. OREA usually updates its Realtor forms at least once a year, so I’d be pretty nervous using something I found randomly on the internet. With something as important as the purchase or sale of a property, buyers and sellers need professional guidance and advice.
In circumstances where a Realtor is not involved, call your lawyer. Have them draft the agreement to ensure the contract is valid and provides the necessary protection.
Dear David: Our offer day is coming up soon. I’m losing sleep worrying what will happen if I don’t get any offers. – NIGHT TERRORS
DEAR NIGHT: Take a deep breath. I often tell clients that buying and selling can feel a lot like riding a roller coaster. Counting down to offer day can feel like you’re cresting that first hill and half-expecting your stomach to drop away. I ride the roller coaster every day and always let clients know that I am in the car next to them with a plan.
The strategy of holding offers until a specific date has become commonplace in our area over the past five years. A successful execution requires choosing the correct marketing price, preparing your home for sale properly, and ensuring that your agent markets it effectively. Occasionally sellers enter the market with inflated expectations and are a bit overzealous when setting their asking price. These are the listings that typically have a harder time attracting offers.
If you don’t receive any offers on offer day, your agent should have a Plan B in place and possibly even a Plan C. These plans should have been discussed early in the process. If you haven’t had this conversation with your agent, ask questions now so you can put your mind at ease. Should your fears be realized, your next step will likely involve taking an honest look at what happened: was your list price too high? Was the home not presented well? Did the planets not align, and the right buyer didn’t come along? It could be any one of these, or a combination of factors.
If a Plan B has not been discussed, call your agent and have them get one in place. #Advice #AskDavid #TheNegotiator
David is a top-selling Broker in Kitchener-Waterloo Region. He works personally with you when selling or buying your home. Moving? Get it right. Ask David today! Call or text 519-577-1212.