Real Estate Practices and Ethics

The video investigates unethical practices in the real estate industry, focusing on agent steering, where agents direct buyers away from low-commission properties. Through hidden camera tests, it reveals that some agents prioritize their commissions over clients' interests. The investigation highlights regulatory challenges and suggests the need for a fairer system. Joanne's story exemplifies the difficulties faced by sellers trying to save on commissions. Despite the challenges, she successfully sells her home privately.

What is the main focus of the investigation conducted by the team?

• To sell houses at a higher price

• To promote high commission homes

• To uncover unethical practices in real estate

• To find the best real estate agents

Why did Joanne Petit decide to sell her house without a real estate agent?

• She wanted to sell it faster

• She wanted to save on commission fees

• She didn't trust any agents

• She had a buyer already

What is 'steering' in the context of real estate?

• Negotiating better prices for buyers

• Helping sellers find buyers

• Directing buyers to high commission properties

• Guiding buyers to the best homes

What did the hidden camera investigation reveal about some real estate agents?

• They always act in the best interest of clients

• They sometimes steer clients away from low commission homes

• They offer discounts to all clients

• They are unaware of commission rates

What is a common commission rate charged by real estate agents in Canada?

• 1%

• 7%

• 3%

• 5%

What is one reason for high real estate fees in Canada compared to other countries?

• Lack of competition among agents

• High demand for real estate

• Separate commissions for buyer and seller agents

• Government regulations

What did the investigation suggest about the real estate system in Canada?

• It is the most efficient system globally

• It is designed for consumer benefit

• It is fair and transparent

• It may not be in the best interest of consumers

What action did the Real Estate Council of Ontario take after the investigation?

• They ignored the findings

• They issued a bulletin reminding agents that steering is illegal

• They banned all real estate agents

• They increased commission rates

What is one potential solution to improve the real estate system in Canada?

• Standardize commission rates

• Eliminate all real estate agents

• Conduct a government inquiry

• Increase commission rates

What was the outcome for Joanne Petit after three months on the market?

• She decided to keep her house

• Her house was sold privately near asking price

• Her house was sold by an agent

• Her house remained unsold