BUYING
A HOME
Tired of searching for the perfect home? Look no further,
I can help. Properties become available everyday. Your ideal
home could be available right now. Let me work with you in finding
the perfect property for the best possible price.
How about having your dream home built! Most people are under the perception
that the costs associated with this process are expensive, but have they ever
really looked into it? The hard part is finding the property to build on. With
my previous work in the construction industry, and my long list of contacts,
together your dream home can become a reality with the right people working with
you.
Take
a look at the ROYAL
LEPAGE BUYERS GUIDE for more info and tips
to help with buying your home.
Buyer's
Agent
A
real estate company acting as a "buyer's agent" must
do what is best for the buyer. A written contract, called a buyer
agency agreement, establishes buyer agency. It also explains services
the company will provide, establishes a fee arrangement for the
REALTOR's services and specifies what obligations a buyer may have. Typically, buyers will be obliged to work exclusively with that
company for a period of time.
Confidences
a buyer shares with the buyer's agent must be kept confidential.
Although confidential information about the buyer cannot be disclosed, a seller
working with a buyer's agent can expect to be treated fairly and honestly.
Dual
Agency
Occasionally
a real estate company will be the agent of both the buyer and
the seller. The buyer and seller must consent to this arrangement
in their listing and buyer agency agreements. Under this "dual agency" arrangement,
the company must do what is best for both the buyer and the seller.
Since the company's loyalty is divided between the buyer and
the seller who have conflicting interests, it is absolutely essential
that a dual agency relationship be established in a written agency
agreement. This agreement specifically describes the rights and
duties of everyone involved and any limitations to those rights
and duties.
This
information was taken from a series of brochures prepared by
the Ontario Real Estate Association and is used with permission.
Who's
working for you?
It
is important that you understand who the REALTOR is working for.
For example, both the seller and the buyer may have thier own
agent which means they each have a REALTOR who is working for
them. Or, some buyers choose to contact the seller's agent directly.
Under this arrangement the REALTOR is working for the seller, and
must do what is best for the seller, but may provide many valuable
services to the buyer. A
REALTOR working with a buyer may even be a "sub-agent" of
the seller. Under sub-agency, both the listing agent and the co-operating
agent must do what is best for the seller even though the sub-agent
may provide many valuable services to the buyer.
If
the seller and the buyer have the same agent, this is dual
agency and the REALTOR is working for both the seller and the
buyer.
Code
of Ethics
REALTORS
believe it is important that the people they work with understand
their agency relationship. That's why agency disclosure is
included in a self-imposed 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 enter into a written
agency agreement with any sellers or buyers they are representing.
This information was taken from a series of brochures prepared
by the Ontario Real Estate Association and is used with permission.
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