Buyer Representation Agreement Alberta

If you decide to establish a customer relationship with your real estate license provider, you will be asked to sign a written service agreement. Written service agreements are required in Alberta if you are a client of a residential licensor. A written agreement between the agent and the buyer creates an explicit agency, as well as a reference agreement between the seller and the agent determines who represents whom and under what conditions. RECA decided that all agency relationships – and, ultimately, the obligation between buyer and agent – should be established in writing in advance. This is a welcome addition to previous representation agreements for Alberta agents, who often spent weeks going around customers just to learn that their buyer was just a “showcase” or was simply bored with the process and then decided to leave with someone else at the last minute. This is a new requirement, so it`s understandable that there are some misunderstandings about these agreements, but they`ve actually been around for a long time (they were previously optional). There are different types of agreements (exclusive and non-exclusive) and there is no standard term, fee or service included in a representation agreement, either for the purchase or sale of a home. We are happy to explain more about these agreements, contact us at any time….

Dette indlæg blev udgivet i Ikke-kategoriseret af admin. Bogmærk permalinket.