Table of Contents: Why Professionalism and Ethics is the Priority Real estate is booming in Canada and real estate brokerage counts Why is real estate brokerage so important? The key role of real estate brokerage in the process The digital landscape of Toronto real estate brokerage

1. Real Estate Brokerage: Why
Professionalism and Ethics is the
Priority

2. Table of Contents
 Why Professionalism and Ethics is the Priority
 Real estate is booming in Canada and real estate brokerage counts
 Why is real estate brokerage so important?
 The key role of real estate brokerage in the process
 The digital landscape of Toronto real estate brokerage

3. Real Estate Brokerage
In all areas of business it is important
to operate with trust, honesty and
professionalism. Given its complex
nature and large sums of money
involved, nowhere is this more true
than in real estate brokerage. Finding
the right level of expertise, knowledge
and reliability when there are over
120,000 registered real estate
brokerage agents across Canada can
be tricky.

4. .
For real estate brokerage in Toronto, that
task may be about to become
considerably easier. The Ontario
government has recently updated the
province’s real estate brokerage rules in
order to boost integrity and levels of
trustworthiness in the industry, meaning
the industry regulator now has greater
powers to sanction or fine brokers and
agents who breach their industry’s ethical
standards and expectations.
The Trust in Real Estate Services Act
replaces the 2002 Real Estate Business
Brokers Act and has been drawn up partly
in response to the booming real estate
market in Ontario, with property values
having more than doubled between 2005
and 2015.

5. Real estate is booming in Canada and real
estate brokerage counts
House prices are continuing to soar in
Toronto and with demand outweighing
supply there is a real emphasis on
strong focus among real estate
brokerage on finding properties that
match the needs of eager buyers.
Canada in general looks set for an
ongoing property boom as the new
decade starts, with Vancouver
forecast to be at the head of popular
places to live in 2020.

6. .
Such a booming market needs
reliable support from effective real
estate brokerage.The top-performing
Canadian real estate brokerage team
says it places as much emphasis on
leadership and customer service as it
does on commercial growth,
underlining the need for real estate
brokerage teams to act in an ethical
and professional manner. Trust in the
industry is key in maintaining and
even building on the market boom,
with customers increasingly more
likely to keep coming back if they
enjoy and appreciate the experience.

7. Why is real estate brokerage so important?
Real estate brokers in Canada can
carry the Fellow of the Real Estate
Institute designation, which can help
reassure Toronto buyers and sellers
to find dependable real estate
brokerage services. It guarantees a
particular level of knowledge and
expertise, on matters such as real
estate laws and financial regulations,
with an additional grasp of the
fundamentals of real estate marketing
and sales.

8. .
Taxation is another key area within real
estate brokerage, with a new
expectation on Toronto buyers and
sellers to notify the Canadian Revenue
Agency (CRA) of real estate
transactions in their tax returns. The
CRA issued penalties in 2019 that
totalled over $57 million against people
who failed to do so. Real estate brokers
also prepare and safely store all
documentation related to sales and
purchases, which includes receipts and
payment records, and also need the
expertise to manage changes in
ownership, which have complex
taxation issues. This is where someone
is added to the title deeds to create a
joint ownership, or properties are
passed on to family members.

9. The Key Role Of Real Estate Brokerage In The
Process
Toronto real estate brokerage supports the many complex procedures within
the real estate process, so knowledge and experience play key roles. The large
amounts of money and detailed contractual negotiations places a large amount
at stake, with expensive holdings involved – a strong grasp of liabilities, legal
documents and contractual transactions is fundamental.
Issues such as the sales contract, the title deeds for the property and its chain
of ownership must be carefully checked; the real estate agent must also
address problems associated with liabilities and any legal claims over a
property. Sale contracts must also be in shape with all existing loans meeting
final settlements, while the real estate broker will always be on the lookout for
anything that threatens the interests of the buyer or seller – contracts of sale
are notoriously vulnerable to such small details creeping through.

10. The digital landscape of Toronto real estate
brokerage
As with many industries, the world of
real estate brokerage is becoming
increasingly influenced by digital
technologies. New online firms have
launched in Canada and, while they
still hire agents to carry out traditional
brokerage services, they have added
new technological innovations such
as online 3D video tours of properties,
which dispense with the need for in-
person viewings. The introduction of
iBuyers to the market has shifted
things even further, by using online
algorithms to calculate a property’s
market value – and even make an
offer, often without even seeing it.

11. As much as real estate brokerage in Toronto and Canada changes and
develops, it will continue to play a key role in the ongoing property boom across
the country. And with the new rules in Ontario province, it means buyers and
sellers can look forward to an increased amount of professional treatment and
behaviour.
Helpful Resources:
Buy - https://athouse.ca/buy.html
Sell - https://athouse.ca/sell.html
Rent - https://athouse.ca/rent.html