Reco Case Study – Schedule B Clauses – Advertising
Our Office Schedule B is a Mandatory Form that must accompany all our Listing Offers. Every Real Estate Office will have its own version.
If we are the Listing Brokerage – Reco states You Must Use Our Mandatory Schedule B
If you are acting as a Buyer Agent and a Listing Brokerage states they don’t have a Schedule B in their office, that’s fine – we are only responsible for our own Listings. We do recommend you try and insert the Advertising clause in case you wish to blog or advertise the sale as a buyer broker.
There is a reason Schedule B’s are important – here is one of them:
RECO fine – $10,000 – Overview of the Case
Agent prepared an Agreement of Purchase and Sale on a property with Schedule B and clause with permission to advertise the sale of the property.
During the course of negotiations, the clause for permission to advertise was deleted.
Agent, however, distributes advertisements stating the sale of the property as having been “Sold in 7 Days” and “Sold Over Asking 114%” See Case Result Below:
Sample Office Schedule B.
More clauses can be added, we are just covering the basic mandatory clauses below
If you need help with attaching your schedule B or where to locate the document, please don’t hesitate to call our office!