Real Estate Investigations and Follow-ups
Ontario real estate regulator ineffective at protecting homebuyers, sellers, audit finds
Tiffany Foxcroft · CBC News · Dec 08, 2022
The agency that regulates the real estate industry in Canada's most populated province is failing to adequately protect consumers during one of the biggest purchases of their lives, a recent report from Ontario's auditor general concluded. Bonnie Lysyk's value-for-money audit examined the effectiveness of the Real Estate Council of Ontario (RECO) and the Ministry of Public and Business Service Delivery, which oversees Ontario's multibillion-dollar real estate industry.
Real estate agents caught on hidden camera facilitating mortgage fraud for a fee
Tiffany Foxcroft, David Common, Matthew Pierce · CBC News · Oct 14, 2022
As interest rates rise, qualifying for a mortgage is getting harder for buyers, but that isn't stopping some real estate agents from making a sale. An undercover investigation by CBC Marketplace has exposed some networks of real estate agents, mortgage brokers and bank employees facilitating mortgage fraud for a fee.
Price fixing has sent Realtor commissions soaring in an already hot market, lawsuit alleges
Tiffany Foxcroft · CBC News · May 19, 2022
Much of the discussion about Canada's real estate market has been dominated by the meteoric rise in the cost of housing. But what's often missing from that conversation is the parallel increase in what Canadians pay in real estate commissions nearly every time a home is bought or sold.
Real estate agents caught breaking the law, steering buyers from low-commission homes
Tiffany Foxcroft, David Common · CBC News · Oct 15, 2021
A CBC Marketplace investigation has found that some real estate agents are breaking the law by steering unwitting buyers away from low-commission homes. ‘In addition to being illegal, the conduct undermines consumer protection,’ Ontario regulator saysA CBC Marketplace investigation has found that some real estate agents are breaking the law by steering unwitting buyers away from low-commission homes.
What and end to blind-bidding for real estate could look like
Tiffany Foxcroft · CBC News · Oct 03, 2021
Critics of a practice in which buyers bid for real estate without knowing the size of competing offers are pushing for what they say are viable alternatives that could create a better system for both sellers and buyers. Would an end to blind bidding help Canadian home buyers? With concerns about affordability and transparency plaguing Canada’s housing market, some say an end to the practice of bidding for real estate without knowing the size of competing bids is the solution.
Real estate practice of 'double-ending' under scrutiny in Ontario
Tiffany Foxcroft · CBC News · Apr 22, 2017
Trying to buy a home in a red-hot market can make it feel like the deck is already stacked against you. But if a real estate agent is behaving unethically, it could cost you tens of thousands of dollars — or even the house of your dreams. Help could be on the way in Ontario thanks to an impending review of unethical behaviour by real estate agents that has the potential to result in more fairness and transparency during heated bidding wars, real estate agents say.
Here's how to buy a home in Australia: Should Canada follow its lead?
Tiffany Foxcroft, Saman Malik · CBC News · Nov 05, 2016
In Canada's hottest real estate markets, bidding on a house can feel like a competitive sport. But is the property game as fair as it could be? Perhaps not — at least not compared to Australia's way of doing things. Like Canada, many of the real estate markets Down Under are in overdrive, with multiple prospective buyers often competing for a single home.
Real estate boss vows to punish unethical agents after 'disturbing' video | CBC News
Tiffany Foxcroft · CBC News · Nov 04, 2016
The association that represents real estate agents in Ontario says more needs to be done to protect consumers and punish agents found to have engaged in unethical behaviour. Tim Hudak, CEO of the Ontario Real Estate Association, spoke out in response to a CBC Marketplace hidden camera investigation that documented real estate agents breaking the rules in an effort to double their commission.
Real estate agents caught breaking the rules, to double their sales commission.
Tiffany Foxcroft, Charlsie Agro, Saman Malik · CBC News · Nov 03, 2016
Attempting to buy a home in a red-hot market can make it feel like the deck is already stacked against you. But if a real estate agent is behaving unethically, it could cost you tens of thousands of dollars — even the house of your dreams. An investigation by CBC Marketplace reveals some real estate agents are breaking the rules in an effort to double their sales commission.
Buyer Steering: An investigation into anti-competitive industry practices where agents secretly bypass low-commission and for-sale-by-owner listings to secure higher payouts.
Rigged Bidding Wars: A lack of transparency in real estate sales leads to rigged deals, as some agents manipulate the process to "double-end" the sale and secure double the commission.
Transparency in Sales: While the majority of Canadians support the elimination of "blind bidding," the practice remains standard. The story of one buyer's $200,000 loss highlights the financial risks of the current system and the argument for a more open sales process.
Mortgage Fraud: An undercover investigation into how networks of real estate agents, mortgage brokers, and bank employees facilitate mortgage fraud for a fee. The report exposes the tactics used to secure fraudulent loans and commissions.