Buyer Representation Agreements
Starting in the Summer of 2014, the Real Estate Council of Alberta mandated that real estate industry members enter into a written service agreement with those whom they form a client relationship, with the one most often seen in our industry being the Buyer Representation Agreement. Going above the Consumer Relationship Guide in regard to the relationship between the brokerage and the client, this Agreement was created to ensure that the role of the real estate industry member is clear, and to minimize any confusion about the relationship between the two parties. Above the ability to clearly define the relationship between client and industry members, written service agreements help industry professionals effectively communicate with clients about:
the services to be provided by the brokerage;
the obligations and responsibilities of the parties;
consent for collection, use and distribution of personal information of the client;
method of calculation of remuneration or how the industry professional will be compensated
Please see below for another helpful video concerning the Buyer Representation Agreement:
If you have any questions about how this relatively new step to the buying process may affect you, please do not hesitate to contact us, as we want to ensure for all of our clients that they understand every step of their purchase of a home in the Bow Valley.
To see a sample of the Exclusive Buyer Representation Agreement, please click here.
To return to the Buyers Guide, click here