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
- 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
- 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.
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