One Dream, One Team.
The REALTOR® you select will become an expert on your specific needs and tastes. Scattering your time and energy amongst multiple REALTORS® will work against your goal of finding your best home. And because most REALTORS® have equal access to the same property listings, there’s no real advantage to having multiple REALTORS®.
Effective July 1, 2014, the Real Estate Council of Alberta (RECA) will require industry members who establish a client relationship when trading in residential real estate, property management, or when dealing in mortgages to enter into a written service agreement with that client. Written service agreements help ensure the role of an industry professional is clear , and when clients are better informed, there is less confusion and typically, fewer disputes.
Written service agreements help industry professionals clearly and confidently communicate with clients about:
- the relationship between the parties;
- the services to be provided by the brokerage;
- the obligations and responsibilities of the parties;
- consent for collection, use and distribution of personal information of the client;
- method of calculation of remuneration or how the industry professional will be compensated; and,
- consent to obtain a credit report (for mortgage brokerage professionals).
Written service agreements provide greater clarity about the roles and obligations between real estate professionals, and their clients, and they reduce any potential for conflicts and confusion. And that will enhance consumer protection.Written service agreements:
- Describe the role and services of the real estate professional
- Outline the obligations of the real estate professional and the client
- Reduce confusion and misunderstanding
- Set out the fees (if any)
- Provide consent to collect, maintain, use and distribute a client’s personal information
Written service agreements ensure there is clarity between the consumer and their real estate representative, by outlining the services a real estate professional will provide to their clients. We’ve all heard that a verbal agreement isn’t worth the paper it’s written on, right? So, as a buyer, put your agreement with your real estate professional in writing. Make sure you know and understand the services that will be provided to you and make sure they are outlined in the agreement.
Consumers can negotiate terms for the agreement that will work for them and their real estate representative. They can even negotiate the length of term for an agreement. Consumers need to feel comfortable with the person they’re working with – and they may not be prepared to commit to a long-term working relationship right from the beginning. Try out a shorter-term agreement and if at the end of that agreement, you don’t want to work with that real estate professional or they don’t want to work with you – both parties can move on.