Services: Buyers | Sellers | Agency Law

AGENCY LAW

When you work with a Real Estate agent in buying or selling real estate, the Canadian Real Estate Association requires that you be informed of whom the agent is representing in the transaction. As a prospective buyer or seller, you should know that unless the purchaser chooses to establish a written Buyer Agency agreement:

• Both the agent who lists the property for sale (the listing agent) and the agents who work with the buyer (the sub-agent) are agents for the seller.
• Their loyalties are owed to the seller and they must inform the seller of all important information they know which might affect the seller's decision regarding the sale of the property.
• While neither is the agent of the buyer, they can provide the buyer with information about available properties and sources of financing and aid the buyer in comparing the features of different properties as well as showing properties and assisting in making an offer to purchase.

A selling agent must treat the buyer honestly and fairly. The agent will:

• Educate you on the home buying process.
• Locate suitable properties through an extensive computer
  and catalogue system.
• Make arrangements to view suitable properties.
• Help you determine if you have found the right home by providing you with market information.
• Provide professional financing guidance and arrange mortgage pre-approval.
• Inform you of normal expenses associated with the purchase of a new home.
• Disclose known material facts about the property.
• Help you successfully navigate the offer process, and ensure that the offer is promptly presented to the seller for consideration.
• Provide information on the availability of related services, such as appraisal, home inspection, legal, survey, contracting and other services.
• Co-ordinate all of the details to ensure a smooth transaction.
• Your agent's services do not end when your offer is accepted: they continue until you are happily settled in your new home.
• When working with a selling agent, these services are available at no cost to you. The vendor pays the selling agent.
• If you prefer to establish a written Buyer Agency agreement, the agent's responsibilities to you will be that of your agent.
  
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