I am absolutely livid about this one. The federal government appears to be breaking the law in a bid to sell and leaseback several of its office buildings. This article from the Globe and Mail tells the tale.
What really irks me as a REALTOR is that the banks are not licensed real estate brokerages in Canada. Some of them do have brokerage arms, but it isn't clear in this case whether or not the banks in question do, or if they do, that they are using those brokerage divisions. What I see is a couple of banks giving real estate advice and offering brokerage services without a license.
There have long been unlicensed practitioners out there in commercial real estate - those of us in the trenches see them every day. That doesn't make it right; and the Canadian Government should not, under any circumstances be condoning this!
I will be contacting the regulating authorities about this and will post back if I get anywhere.
Technorati Tags: commercial real estate, canada, government, illegal
What really irks me as a REALTOR is that the banks are not licensed real estate brokerages in Canada. Some of them do have brokerage arms, but it isn't clear in this case whether or not the banks in question do, or if they do, that they are using those brokerage divisions. What I see is a couple of banks giving real estate advice and offering brokerage services without a license.
There have long been unlicensed practitioners out there in commercial real estate - those of us in the trenches see them every day. That doesn't make it right; and the Canadian Government should not, under any circumstances be condoning this!
I will be contacting the regulating authorities about this and will post back if I get anywhere.
Technorati Tags: commercial real estate, canada, government, illegal
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