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Whether you’re looking to buy or sell a home or learn how real estate works, here are some of the questions we receive the most. If you have a question that’s not listed, feel free to contact our team today, and we’ll be glad to assist you.

Real estate agents in Ontario must take classes and pass exams before registering themselves through the Real Estate Council of Ontario (RECO). Educational courses teach aspiring agents how to work with home buyers and sellers, follow the correct procedures, and file the proper paperwork. Agents learn how to conduct transactions with residential and commercial real estate even though most agents choose to focus on one or the other.

Sellers can inform potential buyers that they’re considering more than one offer, and anyone who wants to submit an offer has until a set time to do so. A bully offer is a buyer tactic to make the seller choose to accept or decline before the specified date. This strategy benefits buyers because the seller might have gotten a better deal if they had waited until the presentation date.

Real estate investors may refer to a cap rate when evaluating properties. This is the anticipated return on investment when taking into account the cost of the property and its upkeep. It’s not the only piece of information that investors review, but it could help them decide which property to purchase when choosing between two similar options.

A stink bid is also referred to as a lowball offer. It’s an offer on a property that is well under the asking price. Real estate investors may use this strategy if they notice a house has been on the market for a long time and feel they can fix and flip it for profit.

In Canada, RPR stands for Real Property Report. This legal document provides a detailed illustration of a property, including its boundaries, buildings, structures, and other improvements. The RPR is typically prepared by a licensed surveyor or engineer and serves as a comprehensive overview of the property’s physical features, helpful for buyers and sellers alike.

Customer acquisition cost (CAC) is the amount of money a realtor spends per sale. This number helps realty companies understand their budget and choose how to advertise and allocate their marketing spending.

In short, a contingency is a condition in real estate. For example, you may offer to buy a home with the contingency that the seller fixes an issue first. Many real estate offers come with contingencies, such as splitting the closing costs, making repairs or making the home available to move into at a specific date.