Representation Agreement In Alberta

If you decide to establish a customer relationship with your real estate licensee, you will be asked to sign a written service contract. Written service contracts are required in Alberta if you are a client of a residential real estate licensee. If there are parts of your home that cannot be considered when using the RMS, but you feel that they are an important sales function, you can share this information with potential buyers in the form of additional information. Make sure the additional information is not misleading, and remember that this size should be RMS size if you include a single size representation in the list. Written service contracts help real estate licensees communicate clearly and safely with their clients about this: If you are in contact with an agent for the first time, your relationship is that of a client. This means that you will only have the benefits, protection and services associated with an agency relationship when you enter into a written service contract to become a customer. If your agent agrees to provide routine services to a client, you can request at any time to become a customer if you feel that representation may be necessary until you sit down and write an offer. 1. The terms of the contract are standardized. Many people think that representation agreements have standard terms such as the length of the contract or the services offered. It is mandatory to sign an agreement to represent buyers in Alberta when they purchase a home with the help of a real estate agent.

This is a new requirement, so it is understandable that there are some misunderstandings about these agreements, but they are actually there for a long time (they were optional). There are different types of agreements (exclusive and non-exclusive) and there is no standard term, fee or series of services included in a replacement agreement, whether for the purchase or sale of a home. We will be happy to tell you more about these agreements, contact us at any time. 4. Signing an agreement with an agent does not limit you to collaborating with that agent. In this case, what matters is what you signed. You have the opportunity to work with other agents in non-exclusive agreements. An exclusive buyer representation agreement requires you to cooperate with the agent with whom you signed the contract for the duration and for the costs specified in the agreement. It also requires the agent to work for you and provide the services agreed in the contract.

If you have signed an exclusive agreement and have chosen to collaborate with other agents, you may pay a commission to more than one agent if you decide to purchase.