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Beginning this January, a series of fresh regulations have been put into effect, significantly altering the landscape of real estate transactions. A significant change pertains to the time frame allotted for the designation of properties as “coming soon,” now limited to a concise three-day period. Following this, properties are required to be promptly listed on realtor.ca for public viewing, fostering transparency in the market. Furthermore, any online advertisements featuring specific properties must be accompanied by an immediate listing on realtor.ca within three days of publication. These stringent measures are designed to combat practices that prolong property availability off the market or facilitate private sales, thereby promoting fairer market conditions. Adherence to these regulations is crucial for sellers seeking optimal outcomes by ensuring their properties receive widespread exposure.
Additionally, realtors are now obligated to provide clients with a comprehensive, detailed multi-page informational guide before entering into any seller or buyer agreements, enhancing transparency and understanding throughout the transaction process.
