August 03, 2014
Although this is the last article in my series of understanding Real Estate Agents, it is generally the first one people read. People often get scammed before they realize Real Estate Agents can be deceptive. It is not made public in the same stature as car salesmen or repairmen where people just believe Real Estate Agents are telling the truth. Unfortunately, this is intentionally done. The Real Estate Regulators within each Province protects Real Estate Agents. It does not protect the buyer.
The only thing you as the buyer can do is contact the Real Estate Regulator within your province and report the case. For example. in Ontario, http://www.orea.com/ would be the organization to contact. If you go on their web site, you'll see a bunch of friendly faces that appear to care about your Real Estate needs.
Once when you report it, they will request for more evidence relating to the incident. This is where you as a buyer will fail. It is highly unlikely that you have any strong or any evidence at all that your Real Estate Agent has scammed you. Your Real Estate Agent will then deny everything and because there is no evidence, the Real Estate Agents walks freely and continues to perform his profession onto other innocent victims.
To this day, I have never heard or seen any Real Estate Agents get expelled. One may wonder what these Regulators really do.
The bottom line, prevention is the best medicine. Let others be aware of the potential scams Real Estate Agents can pull.
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