Brian Madigan LL.B. ~ Candidate RECO Board of Directors 2012 - 04/30/12 01:12 PM
 

Brian Madigan LL.B. ~ Candidate RECO Board of Directors 2012
Ontario Real Estate Source
By Brian Madigan LL.B.
The Real Estate Council of Ontario (RECO), the governing body of real estate brokers, sales representatives and brokerages is electing three new directors to take office in June 2012.
I have decided to submit my candidacy for election as a Director to represent Region 1, which includes Toronto and other central Ontario areas.
The following Candidate Profile is on the RECO website:
Real Estate Broker: commercial and residential, real estate litigation advisor, venture capitalist and educator,
RECO: Approved RECO Education … (7 comments)

ORES Real Estate Index for March 2012 - 04/17/12 12:56 PM
  ORES Real Estate Index for March 2012  Ontario Real Estate Source
By Brian Madigan LL.B.
Here is the "ORES REAL ESTATE INDEX" which tracks the average resale prices of single family homes and condominiums in the Greater Toronto Area (GTA). It also tracks certain benchmark comparisons such as the price of oil and gold, as well as the Consumer Price Index
In addition, the stock market indices for Toronto, and the three largest US markets are also compared.For ease of comparison, everything we look at is worth 100 points on the Index as of 1 January 2005. That time period compares favourably with the five … (5 comments)

Mortgage Rates ~ 17 April 2012 - 04/17/12 08:41 AM
… (1 comments)

TREB Introduces New Home Price Index Just like ORES INDEX - 04/16/12 05:50 PM

TREB Introduces New Home Price Index Just like ORES INDEX
Ontario Real Estate Source
By Brian Madigan LL.B.
I thought it might be rather interesting to look at the new Home Price Index which has been just released by The Toronto Real Estate Board.
In fact, it’s an exact copy of my ORES Index which I have been producing for years. No, it’s not similar; it’s an EXACT COPY.
You may recall that I produce a summary of TREB statistics and certain other comparative statistics all indexed to base 100, with an effective date commencing 1 January 2005.
The comparative … (3 comments)

Law of Disclosure ~ Kingston, Ontario 18 April 2012 - 04/15/12 06:07 PM

 
Law of Disclosure and the Use of the Seller Property Information Statement
This course qualifies for 3 credit hours of continuing education for real estate professionals requiring RECO education credits.
The program is being offered in Kingston by the board on 18 April 2012, from 9:00 am to 11:59 am.
 
Brian R. Madigan LL.B., Broker
Course Developer and Instructor BRMadigan@rogers.comwww.OntarioRealEstateSource.com
… (0 comments)

Active Rain losing some Google Juice (Part 2) - 04/15/12 04:07 PM
Active Rain losing some Google Juice (Part 2)
Ontario Real Estate Source
By Brian Madigan LL.B.
This is a further review to my RECO election 2012 post. I wondered what happened to my Active Rain Posts. There were 8 of them. Just one made it through at all, and it ranked #8 on page 1.
Nothing on page 2 at all. But, here’s page 3:
21 not relevant
22 active rain
23 active rain
24 us homes (repost of my blog by third party without my permission)
25 RECO (the regulator)
26 not relevant
27 twitter (me)
28 not relevant
29 … (4 comments)

Don't Forget that Money Grows on Trees - 04/15/12 12:15 PM
By Brian Madigan LL.B.If I were to tell you that I have an investment for you that will provide you with a tax free return of over 1,000 per cent, you'd think that I was crazy.However, this opportunity is available to many homeowners. What is the best improvement that you can make to your house? The one that will provide you with the greatest return?Now, just about everyone is going to say "kitchens and bathrooms". But in most instances, they only return about 70 to 80 per cent of their original value. So, what kind of an investment is that?The answer … (4 comments)

Counting the Days to Put the Deposit into the Brokerage’s Trust Account - 04/15/12 11:24 AM
Counting the Days to Put the Deposit into the Brokerage’s Trust Account
Ontario Real Estate Source
By Brian Madigan LL.B.
Question
A brokerage must deposit the cheque with 5 business days. When does the five business days begin? The APS states that the buyer has 24 hrs to get the deposit to the deposit holder.  Is the 24 hrs in addition to or included in the 5 days....?
Consider
Offer confirmed by seller Monday at 6pm
Buyer Rep meets buyers gets acknowledgement signed and gets deposit check at 8pm on Monday
Answer:
There are two separate and distinct issues here.
 
… (4 comments)

Active Rain’s Google Juice seems to be Declining - 04/14/12 01:19 PM
Active Rain’s Google Juice seems to be Declining
Ontario Real Estate Source
By Brian Madigan LL.B.
That’s what I had read here, but I really didn’t believe it.
However, let me tell you what happened in terms of my own research.
I decided to run for a Board position on the Real Estate Council of Ontario. That is the regulating body for real estate professionals in Ontario. It usually goes by the acronym “RECO”
So, I was looking for “RECO Election 2012” as search terms. I wrote several blogs about it, and published my platform. There were 8 blogs on the topic. … (6 comments)

Active Rain’s contests are too complicated for Participation - 04/14/12 12:40 PM
Active Rain’s contests are too complicated for Participation
Ontario Real Estate Source
By Brian Madigan LL.B.
I was somewhat disappointed to find that a regular assessment and presentation which I have on a monthly basis did not qualify for points in an AR contest.
Why? Apparently not an independent assessment with my own commentary!
But, I might point out that the Toronto Real Estate Board itself has just adopted such a system. In fact, mine was copied completely by the Board.
Now, the Toronto Real Estate Board publishes a housing index which is identical to my ORES Index.
Seems strange however, … (3 comments)

Active Rain is Just FAR TOO SLOW - 04/14/12 12:28 PM
Active Rain is Just FAR TOO SLOW
Ontario Real Estate Source
By Brian Madigan LL.B.
Generally, I have logged on each day and posted at least 10 comments. This should take 15 minutes. But, using Explorer it seems to take over an hour, sometimes 70 minutes or more while I wait for the site to react and accept my comment after I have clicked the submit button.
I appreciate that it is faster on Google Chrome and perhaps some other programs, but, most of the time I’m stuck with Explorer.
Why?
It’s the choice of browser by the Toronto Real Estate … (8 comments)

Congratulations Kathy Clulow - 04/14/12 12:15 PM
Congratulations Kathy Clulow
Ontario Real Estate Source
By Brian Madigan LL.B.
Kathy Clulow just passed me in terms of total accumulated points on active Rain.
I am happy to see her where traditionally I believe she should be. When I started out Kathy was a strong supporter of AR.
However, as time went by I caught up. That was due in large measure to the fact that Kathy’s participation had slowed somewhat, because we are quite capable of producing a certain number of weekly points.
So, congratulations to Kathy, she is now back on top! It takes a lot of dedication … (8 comments)

Mortgage Rates ~ 14 April 2012 - 04/14/12 12:08 PM
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Mortgage Rates ~ 9 April 2012 - 04/09/12 06:02 PM
 
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Beware of False Statements - 04/08/12 08:44 AM
 
By Brian Madigan LL.B.We are all aware that sales agents like to pump their products, merchandise and services. That has been going on for years and the public who be naïve to think that there is never any “puffery” involved. However, there are times when it simply goes too far!The Consumer Protection Act offers somewhat of a solution to this problem. The former Business Practices Act has been transferred to the CPA.There are two types of representations that are prohibited under the Act:1) false, misleading or deceptive statements, and2) unconscionable statements.First of all, the Act does not apply to real estate transactions as such. They are exempt. It does apply … (4 comments)

RECO Election 2012 ~ Loss of Commissions - 04/08/12 07:45 AM

RECO Election 2012 ~ Commission Loss with Insurance???
Ontario Real Estate Source
By Brian Madigan LL.B.
As many of you know, I have offered to let my name stand as a candidate for election as a Director of the Real Estate Council of Ontario for a three year term commencing in June 2012.

RECO sponsors an insurance program, but it has become apparent with the recent Brekland Realty matter, that not all of the agents whose commission fell under the commission protection insurance program will receive 100% of their commissions.
That would be unfair!
It somewhat undermines the system.
… (6 comments)

Breaches of the Code of Ethics (RECO election 2012) - 04/06/12 10:54 AM

RECO Election 2012 ~ Breaches of the Code of Ethics
Ontario Real Estate Source
By Brian Madigan LL.B.
As many of you know, I have offered to let my name stand as a candidate for election as a Director of the Real Estate Council of Ontario for a three year term commencing in June 2012. Let's look at an issue which I believe is topical for the 2012 election? According to RECO, the five most common breaches of the Code of Ethics in 2010-2011 were: 1. unprofessional conduct 2. advertising 3. best interests 4. fairness and honesty 5. conscientious and competent service … (4 comments)

Fostering the Development of Professionalism (RECO Election 2012) - 04/06/12 09:07 AM
Brian Madigan Candidate (RECO Election 2012) Ontario Real Estate Source
By Brian Madigan LL.B. 
As many of you know, I have offered to let my name stand as a candidate for election as a Director of the Real Estate Council of Ontario for a three year term commencing in June 2012. Let's look at an issue which I believe is topical for the 2012 election? Is trading in real estate simply a business or is it truly professional? The answer to this question is dependent upon a strong Code of Ethics. But, to simply have a Code as a Regulation under … (3 comments)

RECO Election 2012 ~ Risk Management Issues - 04/05/12 12:51 PM

RECO Election 2012 ~ Risk Management
Ontario Real Estate Source
By Brian Madigan LL.B.
As many of you know, I have offered to let my name stand as a candidate for election as a Director of the Real Estate Council of Ontario for a three year term commencing in June 2012. Let's look at an issue which I believe is topical for the 2012 election? There are several matters that arise in terms of risks. Here are the top 2 causes of loss according RECO arising in both urban and rural areas:
· Non-Disclosure
· Miscommunication
Since these matters are fairly … (3 comments)

RECO Election 2012 ~ Professional Corporations (SAVE TAX) - 04/05/12 06:29 AM

"Professional Corporations" Save TAX for Real Estate Professionals
Ontario Real Estate Source
By Brian Madigan LL.B.
The interesting issue about the 2012 RECO election is that there are no issues.
As many of you know, I have offered to let my name stand as a candidate for election as a Director of the Real Estate Council of Ontario for a three year term commencing in June 2012.
So, I must have something to say! Or, why else would anyone vote for me?
I know that most of the time, registrants receive an election package and simply vote for someone that have … (3 comments)

RECO Election 2012 ~ Unprofessional Conduct (Bully Offers) - 04/04/12 12:38 PM
 

Brian Madigan
Ontario Real Estate Source
By Brian Madigan LL.B.
As many of you know, I have offered to let my name stand as a candidate for election as a Director of the Real Estate Council of Ontario for a three year term commencing in June 2012.Let's look at an issue which I believe is topical for the 2012 election?There are offers commonly known as “Bully offers” which present a problem for the industry. Few participants are on the winning end. As part of the process, the existing ethical obligations apparently suggest that by placing the client in a … (8 comments)

Professionalism in Real Estate (RECO 2012 Election) - 04/03/12 08:21 AM

Professionalism in Real Estate
Ontario Real Estate Source
By Brian Madigan LL.B.
Professionalism in the real estate industry underlies the integrity of the system.
 
This issue becomes topical due to the elections for board members to serve RECO in 2012. In fact, due to its importance, it should always be an issue.
 
It is the role of the regulator, the Real Estate Council of Ontario (RECO) to ensure that the consumer is protected. That must be the primary objective.
 
RECO requires a strategy in order to achieve its objective. It must utilize various means at its … (4 comments)

Mortgage Rates ~ 2 April 2012 - 04/02/12 12:12 PM
Mortgage Rates ~ 2 April 2012
Ontario Real Estate Source
By Brian Madigan LL.B.
Please give me a call if you require a referral to a mortgage broker.
Brian Madigan LL.B., Broker is an author and commentator on real estate matters, if you are interested in residential or commercial properties in Mississauga, Toronto or the GTA, you may contact him through RE/MAX West Realty Inc., Brokerage 416-745-2300.www.OntarioRealEstateSource.com
… (2 comments)

RECO Election 2012 ~ Region 1 ~ Brian Madigan Candidate - 04/02/12 11:41 AM

Brian Madigan LL.B.
RECO Election 2012 ~ Region 1
Ontario Real Estate Source
 
I recently announced my candidacy for election to the Board of Directors of the Real Estate Council of Ontario (RECO) in Region 1 being "Central Ontario".I have received a number of inquiries concerning the location of the Region 1. The three regions together are of approximately equal size. So here they are:REGION 1 Central OntarioBrampton Real Estate BoardDurham Region Association of REALTORS®Mississauga Real Estate BoardOakville - Milton & District Real Estate BoardOrangeville & District Real Estate BoardToronto Real Estate BoardREGION 2 Western & Southern OntarioBrantford Regional … (7 comments)

Towel Racks - 04/01/12 06:13 PM
Towel Racks
Ontario Real Estate Source
By Brian Madigan LL.B.
You would think that towel racks would be easy to assemble. However they are not.
In large part, this is due to the fact that several manufacturers have adopted the same, simplistic and basically cheap method of assembly.
Nothing comes together until the last tiny screw, basically invisible to the naked eye is tightened in place. And you need fingers the size of a three year old with the dexterity of a neurosurgeon to tighten it.
If not, you can fool around for a few hours trying to accomplish this simple … (3 comments)

The Use of Printed Flyers - 04/01/12 06:01 PM
The Use of Printed Flyers
Ontario Real Estate Source
By Brian Madigan LL.B.
The interesting thing is that the use of printed flyers is increasing once again.
With all the internet marketing and overabundance of printed flyers, advertisers marketing real estate left this field.
All the new people went to the internet. It was more effective and it was much, much less expensive.
Well, a good deal of that has changed. Printed flyers are making a comeback. When they are not quite so plentiful, the ones that get through are being looked at, and people are phoning.
Who would have thought … (8 comments)

Toronto’s Two Markets One Hot and One Cold - 04/01/12 05:53 PM
Toronto’s Two Markets One Hot and One Cold
Ontario Real Estate Source
By Brian Madigan LL.B.
Toronto has two real estate markets going in slightly different directions at this moment.
One is Hot and the other is Cold.
Do you know which one?
Answer
The resale housing market is very not. Listings come and go within a few days.
The resale condo market is rather slow. Just about every condo building will have quite a number of units available.
Brian Madigan LL.B., Broker is an author and commentator on real estate matters, if you are interested in residential or commercial properties … (2 comments)

Disclosure of Facts if Multiple Representation - 04/01/12 05:43 PM
Disclosure of Facts if Multiple Representation
Ontario Real Estate Source
By Brian Madigan LL.B.
Question
In the clause from Form 200 regarding the possibility of multiple representation; it states: 
"The Listing brokerage shall have a duty of full disclosure to both the seller and the buyer, including a requirement to disclose all factual information about the property known to the listing brokerage." 
My question regarding this would be for clarification on  "disclose all factual information about the property known"
I thought that a seller is only obligated to disclose material latent defects; so in the case of multiple representation would the salesperson … (2 comments)

 
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Brian Madigan LL.B.

Toronto, ON

More about me…

RE/MAX West Realty Inc., Brokerage (Toronto)

Address: Toronto, Mississauga, Oakville, Brampton, Caledon, Thornhill, Greater Toronto Area, http://www.iSourceRealEstate.com

Office Phone: (416) 745-2300

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