Wednesday, September 22, 2010

Local Chalet Rental Firm Found Guilty

It may come as a surprise to many that as licensed REALTORS® we practice our profession under provincial law, specifically the Real Estate and Business Brokers Act 2002 (REBBA 2002). This Act has been in place for many years, 2002 merely denotes the date in which some significant changes and or revisions were added.
Under the "Act," are well defined stipulations that govern virtually ever aspect of what we do from the preparation of listing/sale agreements, financial matters, our signs, advertising guidelines and so on. One of the main requirements of the "Act" is that no one is to trade in real estate without being registered under REBBA 2002.  This means that no company or individual can charge a fee for listing, selling or even leasing a property.
  On September 16th, the Barrie court convicted a Collingwood company "Blue Mountain Chalets" of trading in real estate without being licensed under REBBA 2002, overturning a decision made two years ago wherein the company was acquitted.  At the time of the acquittal, I was President of the Georgian Triangle Real Estate Board and I was present in the Bradford court room at the time.  The earlier fate of Blue Mountain Chalets was presided over by a Justice of the Peace who although finding the company guilty of practicing real estate without being licensed, proceeded to acquit them anyway.  The company will now be sentenced on October 5th.
  While one may ask themselves what all the hullabaloo is about not being licensed, they fact is consumers stand at considerable risk.  For example, under REBBA 2002, real estate brokerages are required to maintain and place funds such as deposit monies into trust accounts where they are protected.  Non-registered parties can simple cash a deposit cheque and use it for what they want and should the company go under, those funds will most likely be gone. How would you feel about a $5,000, $10,000 or larger deposit of yours being lost?
Due to the recreational nature of our area, numerous individuals and or companies have and continue to exist in our area that are managing rental condominiums, chalets and cottages.  With this latest verdict against Blue Mountain Chalets, the Real Estate Council of Ontario (RECO) is going to be pursuing all other non-registrants in the area in order to ensure that consumers are fully protected by law in their real estate transactions.  If you are not sure as to whether your are dealing with a licensed REALTOR® simply visit the RECO website and search for the party representing you to see if they are in fact a registrant under the "Act."

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Royal LePAGE Locations North (Brokerage)

330 First Street, Collingwood, ON L9Y 1B4


Direct: 705-443-1037

Office: 705-445-5520 ext 230


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Rick relocated to Collingwood from Toronto in 1985 through a transfer with Goodyear Canada. In 1987 Rick was recruited by a major client of Goodyear’s, managing their Canadian business based in Barrie before moving to Chicago in 1992 as Vice President of Sales & Marketing. Upon returning to Canada in 1996, Rick ran an industrial products manufacturing company in Stratford, Ontario. In 1998 Rick returned to Collingwood with his two children. Rick is a licensed real estate Broker with Royal LePAGE Locations North in Collingwood and holds his MVA designation (Market Value Appraiser-Residential). He is an active volunteer in the community serving several years on the Board of Directors with the Collingwood Chamber of Commerce as Treasurer, 6 years on the Board of Directors for the Southern Georgian Bay Association of REALTORS® of which he is the Past President (2008) and currently serves on a committee with the Ontario Real Estate Association. Rick is a diverse executive manager with extensive experience in strategic planning, manufacturing, finance, human resources and quality assurance management.