Mandatory Buyers Agreement

Did you know as of July 1, 2014 it will be mandatory for all home buyers to sign a Buyer Representation Agreement with their Realtor. 

What does this mean for you?

This is good news for the home consumer because it guarantees a good working relationship with the realtor of your choice. The obligations stated on the agreement that the realtor will have to provide to the buyer are the following:

• Look for properties that match your search criteria, until you buy a property under this agreement, or this agreement ends.
• Keep you informed during the search and any resulting transaction.
• Tell the seller of a property you are interested in that we are your agent.
• Take reasonable steps to find and give you information about properties and transactions you are interested in.
• Help you prepare an offer and negotiate favorable terms and conditions with a seller.
• Help you to comply with a contract to buy a property.
• Present all offers and counter-offers to and from you, even when the property is already the subject of an accepted offer.
• Hold money we receive in trust, as the Real Estate Act requires.
• Give you a copy of this agreement as soon as possible after signing.

Signing a Buyer Representation Agreement will ensure that your Realtor will do a good job for you in the purchase of your home.

What does this mean for the Realtor?

This is also good news for a Realtor as it will allow the Realtor to focus their efforts and provide their best customer service for their client knowing that there is a commitment from the buyer in place. The commitment stated on the agreement from the buyer is as follows:

• Provide details of what type of property you are looking to purchase.
• Communicate & cooperate with us.
• Discuss any specific information you want about a property. This may include: Information the seller does not have to disclose, or Issues that may prevent you from buying a property.
• Give us enough personal and financial information so we can assess your ability to buy property that matches your search criteria.
• Be available to view properties promptly.

The commitment between Buyer & Realtor ensure that the home buying experience is a worry-free and enjoyable experience.