REALTORS® Association of Edmonton
 
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Find a REALTOR® Who is Right for You

You know how much money you have and you have a good idea of what you want. Now you need the help of a real pro, to make your search a success.

REALTORS®. Highly trained and constantly training.

In Canada, licensed REALTORS® are members of their local real estate board, a provincial association and the Canadian Real Estate Association. This system of membership ensures the highest level of service and that you are always treated with honesty and integrity. This is backed by the REALTOR® Code of Ethics.

The Three REALTOR® Relationships

The relationship between a real estate brokerage and a client is called Agency and there are three major kinds.

Seller (Vendor) Agency

The real estate brokerage and all its REALTORS® represent the seller exclusively and it’s their job to get the best offer on the home. They are legally obliged to tell the seller anything known about a buyer. For instance, if a seller’s REALTOR® knows a buyer will pay more for a property, they must tell the seller.

Buyer (Purchaser) Agency

The real estate brokerage and all its REALTORS® represent the buyer exclusively. They seek out homes that meet the buyer’s needs and help assess the merits and defects of potential homes. They keep the buyer’s information confidential and never disclose information like the maximum amount their buyer is willing to pay. You may be asked by your REALTOR® to sign a buyer agency agreement. In fact, in some provinces, REALTORS® are required to ask you - for your own protection. This agreement ensures that the REALTOR® and the brokerage can look after your best interests.

Dual Agency (otherwise known as Transaction Brokerage in Alberta)

Sometimes, a brokerage may have an agency relationship with the buyer and the seller. Both the seller and the buyer must give their informed consent and the REALTOR® must always provide full and timely disclosure of all pertinent information to both parties.

Sell and buy with the same REALTOR®?

Absolutely! Especially if you’re remaining in the same community. Your REALTOR® is already an expert on your needs, so it can save you a lot of time and energy.

Selecting a REALTOR®

There are lots of ways to find a REALTOR®. As you drive through prospective neighbourhoods, jot down the names and numbers of REALTORS® on the For Sale signs. Open Houses are a great way to meet face-to-face. Maybe friends or family members have worked with a REALTOR® they love. Interview two or three and pick the one you like best.

How REALTORS® help buyers like you

  • Review your list of wants and needs and help you determine your price range.
  • Answer questions about the markets you’re interested in and help you compare homes and neighbourhoods.
  • Use the local Multiple Listing Service® (MLS® System). The MLS® System is the single most powerful tool for buying and selling a home. Your REALTOR® will give you access to exclusive features of the MLS® System that the public is not privy to.
  • Preview properties to ensure you’re only shown homes that meet your needs and budget.
  • Make appointments and walk you through potential homes, answering all your questions.
  • Give up-to-the-minute information on financing and explain your mortgage options.
  • Negotiate with the seller, smooth out any potential conflicts and draw up a legally binding contract.

Stick with your REALTOR®

One dream, one team. The REALTOR® you select will become an expert on your specific needs and tastes. Scattering your time and energy amongst multiple REALTORS® will work against your goal of finding your best home. And because most REALTORS® have equal access to the same property listings, there’s no real advantage to having multiple REALTORS®.

Legislation Changes July 1, 2014 in Alberta

The Real Estate Council of Alberta (RECA) requires all REALTORS® who establish a client relationship in residential real estate to enter into a Written Service Agreement with that client. Written Service Agreements for buyers are referred to as either an “Exclusive Buyer Representation Agreement" or “Non-Exclusive Buyer Representation Agreement". Written Service Agreements help ensure the role of an industry professional is clear – making clients better informed with less confusion and fewer disputes.

For more information, on these agreements including the differences between exclusive and non-exclusive, visit RECA’s website.

Next Step: See What’s Out There

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Real Estate Weekly

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©2011 REALTORS® Association of Edmonton 14220 112 Avenue, Edmonton, Alberta T5M 2T8T: 780-451-6666 TF: 1-888-674-7479 F: 780-452-1135

 

Trademarks and their associated logos are owned and controlled by The Canadian Real Estate Association (CREA) and
identify real estate professional who are members of CREA (REALTOR®) and/or the quality of services they provide (MLS®).

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The REALTORS® Association of Edmonton (Edmonton Real Estate Board), founded in 1927 , is a professional association of over 3,200 Brokers and Associates in the greater Edmonton area. The Association administers the Multiple Listing Service®, provides professional education to its members and enforces a strict Code of Ethics and Standards of Business Practice.

The Association advertises property listings and publishes consumer information on the Internet at REALTOR.ca, as well as in the Real Estate Weekly.
The REALTORS® Association supports charities involving shelter and homelessness through the REALTORS® Community Foundation.