Real Estate Council of Alberta warns public of common fraud schemes as part of Fraud Prevention Month
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Real Estate Council of Alberta warns public of common fraud schemes as part of Fraud Prevention Month

Real Estate Council of Alberta warns public of common fraud schemes as part of Fraud Prevention Month Calgary, Alberta – March marks the beginning of Fraud Prevention Month across Canada. The Real Estate Council of Alberta (RECA) is taking action to raise awareness about common fraud scenarios in the real estate sector. “During the pandemic we’ve…

Real Estate Licence Cancelled, Barred from Becoming Licensed for Seven Years
News | License Cancelled

Real Estate Licence Cancelled, Barred from Becoming Licensed for Seven Years

Real Estate Licence Cancelled, Barred from Becoming Licensed for Seven Years Calgary, Alberta — on February 24, 2022, a Hearing Panel for the Real Estate Council of Alberta (RECA) cancelled the licence of John Doe and barred John from becoming eligible for licensing for seven years. John is not licensed to trade in real estate in…

Lifetime Withdrawal from Industry
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Lifetime Withdrawal from Industry

Lifetime Withdrawal from Industry Calgary, Alberta—On March 17, 2022, the Mortgage Broker Industry Council of the Real Estate Council of Alberta (RECA) approved an application by Jane Doe under section 54 of the Real Estate Act to permanently withdraw their licence, effective immediately. At the time of their application, Jane was the subject of an investigation under…

Out-of-province Agents Need a Licence to Trade in Alberta
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Out-of-province Agents Need a Licence to Trade in Alberta

Out-of-province Agents Need a Licence to Trade in Alberta RECA has heard about increased interest from out-of-province buyers, particularly from Ontario, in purchasing property in Alberta. Alberta has not seen the price increases like those in the GTA or Vancouver areas over the last decade, and Alberta’s market is being seen as an opportunity for…

Real Estate Holdbacks – Why they often don’t make sense for Lenders
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Real Estate Holdbacks – Why they often don’t make sense for Lenders

Real Estate Holdbacks—Why They Often Don’t Make Sense for Lenders RECA has received an increase in inquiries regarding the use of holdbacks in real estate sales contracts. A holdback occurs in a real-estate transaction when the buyer identifies a condition (typically a renovation or repair) that they want to be completed at the seller’s expense. The holdback…

Important: Changes to Provincial rules for reporting pending sales
Calgary Real Estate Market News | News

Important: Changes to Provincial rules for reporting pending sales

Members from all Alberta Boards/Associations have asked for a change to the definition of pending status so that listings reported pending in the MLS®System continue to be marketed to REALTOR.ca and third-party websites. To support this change, the provincial Rules Change Management Group (CMG), undertook a review of all pending status rules so to make recommendations for…