http://www.repmag.ca/news/call-to-crack-down-on-unethical-agents-221872.aspx
Call to crackdown on unethical agents
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[FONT=open_sansregular]Following a CBC Marketplace investigation aboutunethical real estate practices, one association is stricter punishment forthose who violate the agent code of ethics.
In a letter to the CEO of RECA, the Ontario Real Estate Association shared itssupport for the regulator’s investigation into unethical real estate practicesfollowing a[/FONT]
[FONT=open_sansregular] CBC hiddencamera investigation.
However, it’s calling for stricter punishment.
“OREA strongly condemns the actions of any real estate professional whoknowingly behaves in an unethical manner in violation of REBBA and its Code ofEthics[/FONT]
[FONT=open_sansregular],” the letter, signed by OREA President Ray Ferrisand CEO Tim Hudak, says.[/FONT]
[FONT=open_sansregular] “It is ourcontention that a stronger system to punish this bad behaviour is critical toensuring that this type of behaviour not only doesn’t persist,[/FONT]
[FONT=open_sansregular] but thatthose who insist on engaging in this type of behaviour be deprived of theprivilege of being part of the real estate profession.”
The CBC segment, which aired in late 2016, investigated double-ended dealswhere agents represented both the buyer and the seller of homes on the GreaterToronto Area.
Representing both sides of the transaction allows agents to use their knowledgeof both parties to give an advantage to of one of those clients.
Such deals are in contravention of the Real Estate and Business Brokers Act(REBBA).
“Consumer confidence in the real estate industry is critical to a stable marketand a lack of consumer trust and confidence[/FONT]
[FONT=open_sansregular] in theregulator’s enforcement of the rules could negatively affect a consumer’sdecision to utilize the services of a registrant,” [/FONT]
[FONT=open_sansregular]the letter says. “Ontario realtors and consumersrightfully have an expectation that RECO would have immediately investigated[/FONT]
[FONT=open_sansregular] this matterand appropriately disciplined those who violated the rules thereby sending avery strong message to both registrants[/FONT]
[FONT=open_sansregular] and thepublic that such behaviour shall not be tolerated.”
[/FONT]
[FONT=open_sansregular]Gold[/FONT]
[FONT=open_sansregular]Justin da Rosa](http://www.repmag.ca/authors/justin-da-rosa-191411/)| 01 Mar 2017, 08:15 AM [/FONT]
[FONT=open_sansregular]Following a CBC Marketplaceinvestigation about unethical real estate practices, one association is urgingthe regulator to punish those who violate the agent code of ethics [/FONT]