In British Columbia, real estate brokers and their salespersons are required to disclose the type of working relationship they have with the buyers and sellers in a real estate transaction. There are several agencies and you should understand these at the time the real estate agent provides specific assistance to you in buying ( or selling ) real estate.
Buyer’s Agent and Seller’s Agent relationships are commonly referred to as "agency" relationships and carry with them legal duties and responsibilities for the Agent and the Brokerage they represent, as well as for the Buyer and Seller.
As a Buyer's Agent I act solely on Your behalf and owe duties to You which includes the utmost good faith, loyalty and fidelity. I negotiate on Your behalf and act as Your advocate, exclusively.
Often referred to as Listing Agent
A Seller's Agent acts solely on behalf of the Seller and owes duties to them which includes utmost faith, loyalty and fidelity. The Agent will negotiate on behalf and act as an advocate for the Seller. They must disclose to buyers all adverse material facts about the property known by the Agent.
The Agent and the Seller enter into a written Agreement which sets out the duties and obligations of both parties.
When an Agent has an existing Agency Agreement and is not authorized or chooses not to act as a Limited Dual Agent, the Agent will only owe agency duties to the party represented by him/her. The party not represented professionally in the transaction has to do their all their on research on their own time to obtain all information (other than what is in the Listing Agreement), get expert advice at their own expense, and structure their own Offer. An Agent may write Offers on behalf of the party not represented by him/her, but the duties will remain with his/her client only. This information is disclosed prior to writing the contract.
Once your budget is determined, it is time to find an Agent. Perhaps this is the most important step in finding the right house and having a problem free transaction. There are many to choose from and this can be a bit confusing.
I feel that it is important to remember that buying a home is probably the largest investment that you will make in your life: so it is very important that you choose someone who is knowledgeable and that you feel comfortable working with. Working with a competent real estate agent will save endless amounts of time, money and frustration.
Naturally, I hope that you would consider me as your Buyer’s Agent.
I believe that I can help you get the best property at the lowest overall cost with minimum inconvenience. May I go to work for you?