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| UNDERSTANDING
BUYER'S AGENCY
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I believe it's important for you to understand for whom I am working and what services you can expect from me.
Please read the information below to understand the relationship between buyers and real estate agents.
BUYER AS A CLIENT
Real Estate agents owe their clients the highest level of fiduciary duties. Competence, diligence, full disclosure, obedience, loyalty, confidentiality and complete accounting. Agents shall endeavor to protect and promote the client's interests throughout the real estate transaction.
If you choose to be represented as a client, written representation in the form of a Purchaser's agency agreement is required by the Real Estate Council of Ontario (RECO).
BUYER AS A CUSTOMER
If you choose not to enter into a Purchaser's Agency Agreement, you can only be treated as a customer, and the Vendor is the Client no matter which agent you are working with. In this case, anything you say to your agent can and must be divulged to the Vendor. Including the amount you are willing to pay. The customer cannot expect the loyalty from an agent that a client is entitled to.
Although being a customer obviously ranks well below client status, agents must still deal fairly and honestly with them. While they must not mislead customers about a property or a real estate transaction, agents need only exercise reasonable care and skill to ensure answers given or the information provided is complete and accurate.
IN CONCLUSION
Clearly, it is in a buyer's best interests to sign a representation agreement. If you choose to be represented as a customer, written representation is not mandatory, however you will be required to acknowledge your decision in writing.
MY GUARANTEE
During the currency of such an agreement, if you are not completely satisfied with the services rendered by me, I will cancel the agreement at your request.
No other realtor can do more!
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