Does Dealtap 2.0 comply with RECO Bill 55?
Dealtap was built with RECO Bill 55 in mind.
RECO Bill 55 became effective across Ontario on July 1, 2015.
Bill 55 States:
The brokerage must keep a copy of all written offers that it receives, or a complete summary document for each offer, for at least one year from the day it is received.
The offers may be stored electronically or as a hard copy. For the purposes of the new amendments, each counter offer made by a buyer and received by the seller’s representative is considered an offer, so the brokerage must retain records for the original offer and every change made to it during negotiations. Though offers from a seller to a buyer are not covered by this amendment, they should continue to be retained by the seller’s representative.
DealTap 2.0 allows you to remain completely RECO compliant by providing a “Versions” section that stores a copy of every version of every offer. You will have a record of all offers and counter offers. If you are e-mailed a PDF, you can upload it as a version of an offer you created within DealTap.