Should you fire your Realtors® (part 3)
Every Realtor and Real Estate Companies in Edmonton market homes differently. Some companies and agents will put your home on the public MLS, charge an upfront fee and expect you to do everything else, hoping either you find a buyer yourself or another agent from another real estate company brings you a buyer for your home. A full-service company will do all of the work for you and more. Below are three more reasons to fire your Realtor.
4. Your Realtor is not looking after your best Interest
A Realtor's obligations are set out in your agreement in plain sight. During the listing agreement, your Realtor must be impartial in dealings with you and other buyers being represented by the same agents with an interest in your property.
- If your agent has found a buyer for your home and is representing both you and the buyer, an acknowledgement form must be signed but all parties prior to the offer presentation. If you are not comfortable with your Realtor representing both you and the buyer with the sale of your home, both have the option of being represented by another Realtor or real estate brokerage prior to the offer presentation.
5. Your Realtor is not marketing your home
Under section 4.2 subsections (a) and (b) of the Exclusive Seller Representation Agreement, it states:
- In addition to the responsibilities described in the Consumer Relationship Guide, the designated agent (your Realtor) must also:
- (a) market the property, until the property is sold under this agreement, or this agreement ends.
- (b) keep you informed of their marketing activities and any resulting transaction.
A good realtor will continuously keep marketing your home through various types of marketing exposure to find the right buyer and keep you informed. Don't expect to find that perfect buyer if the only thing exposing your home for sale is the address and a few photos on the Multiple Listing Service (Realtor.ca).
6. Confidential Information Exposed!
Whether you list with a common-law real estate company or a designated real estate company, the Consumer Relationship Guide forms part of both a buyers agreement and a sellers agreement. In this document. it clearly states the agent's fiduciary duties which include:
- Undivided loyalty: The agent must act only in your best interest and put them above their own and those of people. The agent must avoid conflicts of interest and must protect your negotiation position at all times. In lamens terms - your reasons for selling cannot be disclosed unless it has been put in writing.
- Confidentiality: The agent must keep the information confidential, even after your relationship ends. Confidential information includes your personal information, information about the property and information about the transaction (except information the law says must be disclosed or information you agree to disclose).
For more information on the Alberta Consumer Relationship Guide, contact the Alberta Real Estate Council.