Hope every one is getting into the holiday spirit - cause I certainly am.
I need to set the record straight - with all the media attention within the last couple of days about Realtors and Agency I thought I would email you to tell you that everyone should be beware of any documents they are signing. It is important to question an agent if you don't understand what you are signing. I have to ask you not to put all agents in the category the media is putting us.
You can rest assure I will always put your interest first.
Don't forget we are coming into the Spring Market soon and we are already preparing for the Big Cottage Life Show at the International Centre.
I NEED LISTINGS!! and always love referrals !
If you would like the agency document and their meaning please let me know. These documents are the ones you would be sign if you were listing or buying a property.
The Agency Relationship
In Real estate, there are different possible forms of agency relationship:
2. Buyer Representation
3. Multiple Representation
Occasionally a real estate brokerage will represent both the buyer and the seller. The buyer and seller must consent to this arrangement in writing. Under this multiple representation arrangement, the brokerage must do what is best for both the buyer and the seller.
Since the brokerage’s loyalty is divided between the buyer and the seller who have conflicting interests, it is absolutely essential that a multiple representation relationship be properly documented. Representation agreements specifically describe the rights and duties of everyone involved and any limitations to those rights and duties.
4. Customer Service
A real estate brokerage may provide services to buyers and sellers without creating buyer or seller representation. This is called “customer service”.
Under this arrangement, the brokerage can provide many valuable services in a fair and honest manner. This relationship can be set out in a buyer or seller customer service agreement.
Real estate negotiations are often complex and a brokerage may be providing representation and/or customer service to more than one seller or buyer. The brokerage will disclose these relationships to each buyer and seller.
Code of Ethics
REALTORS ( good ones, experienced ones) believe it is important that the people they work with understand their agency relationship. That’s why requirements and obligations for representation and customer service are included in the Code of Ethics which is administered by the Real Estate Council of Ontario.
The Code requires REALTORS to disclose in writing the nature of the services they are providing, and encourages REALTORS to obtain written acknowledgement of that disclosure. The Code also requires REALTORS to submit written representation and customer service agreements to buyers and sellers.
Hope this information helps, contact me with any questions or concerns any time.