Before they can start to work for you
When your looking for a house, apartment, mobile home or townhouse there's a good chance you'll come across a realtor. This realtor will always try to be getting your business. One of the best ways to know if this realtor can do the job is to know what he or she is required to do for you.
Before starting a business relationship with yourself a realtor must show his or her duties, limitations and the types of services a customer might expect. This can be done with a pre-made brochure (working with a realtor) which explains:
the fiduciary duties that an agent owes to a client, be that client a seller or a buyer;
Limitations on these duties should an agent be given consent to act for both parities. The types of services a customer might normally expect to receive when there is no agency relationship.
It's very important to understand that the seller or buyer's informed consent is required before a realtor starts to work for yourself. This can be used as your fist test to see the quality of your realtor. Whether your buying or selling a condo, apartment or house, the brochure that explains these topics are provided to the realtor from the British Columbia Real Estate Association. This brochure is to be read to you and then signed by yourself before the realtor talks about anything pertaining to your home purchase.
Duty to Clients
Your local Real Estate council sets out the duties that a realtor owes to a buyer of real estate or a seller of real estate with respect to any investments in your area. All of the following is required when your in the market to buy or sell your home. This applies to Newly constructed homes, Apartments (new or old) and all other transactions pertaining to the buying or selling of real estate:
Your realtor does actions in the best interest of the client;
Realtor is in accordance with the lawful instructions of the client Only uses authority given by the client;
If there is a task that is above the authority of the realtor, he or she must advice you to seek independent professional advice on matters outside of the expertise of the realtor;
Confidentiality of information is a huge item that must be established
When an offer on your property is put forth, all offers to the client must be presented in a timely and unbiased manner; Any conflicts must be told to the client when they arise.
We've talked about what a realtor is responsible to do if he or she wishes to work with yourself. When you first come in contact with a realtor be sure to notice the body position, eye contact and hand shake. Notice the way she or he understand and listens to what your needs are. Ask specific questions and take note of the response made by the realtor. You now have knowledge of what the responsibilities of a realtor are. Whether your investing in a condo, apartment, mobile home or acreage, your realtor must disclose what his intentions are.
Shane Toews is a Licenced Realtor who helps others to educate themselves about current real estate issues. He also provides assistance on how to find quality homes, apartments or vacation rentals in Canada's Fraser Valley area.
Visit his website RentFraserValley.com for more information on Fraser Valley Homes and Apartments for Sale or Rent