The Buyer Representation Agreement
Guaranteeing You the Very Best in Real Estate Service
When it comes to just about every kind of contract, signing on the dotted line
makes us all a little bit nervous.
When selling a home, most people are aware they sign a Listing Agreement with
a REALTOR®. There is, however, an agreement that REALTORS® ask
their home buying clients to sign. Its an agreement that works
in favour of buyers, guaranteeing the very best in real estate service.
The Real Estate Council of Ontario (RECO), a public agency formed to protect
consumers and regulate the industry, introduced guiding principles mandating that
REALTORS® ask their clients to sign a Written Representation Agreement at
the earliest possible time.
When choosing representation, home buyers have the option to sign either a
Buyer Representation Agreement or a Buyer Customer Service Agreement.
The Buyer Representation Agreement signifies that for a designated period of
time, the buyer has engaged a specific REALTOR® firm to work exclusively on
his or her behalf at finding a property. The agreement confirms the REALTOR®s
commitment to make his or her best efforts for the buyer.
By signing the Buyer Customer Service Agreement the buyer acknowledges the Broker has provided him/her with written information explaining agency relationships including Seller Representation, Buyer Representation, Multiple Representation and Customer Service.
For more information on this important subject, call your local REALTOR®. The term REALTOR® is designated to those who have chosen to belong to local, provincial and national real estate associations, agreeing to adhere to a strict code of professional standards that ensures the highest levels of service and integrity. In Toronto, local REALTORS® belong to the Toronto Real Estate Board, Canadas largest real estate board, serving more than 33,000 Members.
We welcome your feedback. Please email comments to BRAFirst@trebnet.com and share your thoughts.