How REALTORS® help Edmonton home buyers

There are several reasons why buyers choose to work with REALTORS® when buying a home, even when a buyer has sold their existing home via "For Sale by Owner". A few of these reasons include knowledge of the ever-changing markets, expertise in both negotiations and communities, experience and exclusive real estate tools. And there is usually no cost for a buyer to use a REALTORS®.

A large portion of canadian real estate agents have now earned their ABR (Accredited Buyers Representation) designation, which means, these REALTORS® have completed the education needed to service buyers with a higher standard.

If you have questions - ASK. Never sign anything until you fully understand what you are signing. Real estate agents deal with contracts on a daily basis, and most of us can explain listing and purchase agreements without even looking at them.

In the province of Alberta, most REALTORS® work with thier buyer clients under a signed buyers brokerage agreement. If you are not under a brokerage agreement - a real estate agent can still help you under a customer status. However if you are working with an agent under a customer status, the REALTOR® will be working in the best interest of their clients - not yours!

In an Exclusive Buyer Representative Agreement, it states...

• 14.1 You acknowledge that:
• (a) you have read this agreement.
• (b) you have received and read the Guide.
• (c) this agreement creates a sole agency relationship with us, as the Guide describes.
• (d) you had the opportunity to get independent advice from a lawyer before signing this agreement.
• (e) this agreement accurately sets out what we and you agree to.

This means you can obtain legal prior to signing or you may want to take the agreement home to read over more thoroughly. These agreements are not rocket science, but knowing what you are signing is important.

• REAL ESTATE TIP#1: "The Guide" is referring to the Consumer Relation Guide which explains how the professional relationship including fiduciary duties and the real estate agency will interact with each other.
• REAL ESTATE TIP#2: Buyers Real Estate Agents, normally do not charge an extra fee above what is offered by a seller, unless otherwise agreed in writing.

Have a buyer Brokerage agreement question? We are here to help. Contact us anytime

Top Questions to Ask Edmonton REALTORS® when Selling

With so many types of residential real estate, Edmonton REALTORS® are beginning to specialize in a wide range of residential fields. Over the last decade, there have been ample changes in the business and specializing has become the norm. These fields can range from buyer agency, infills and new builds, luxury homes, seniors, military relocations, condominiums, foreclosures, etc. There are over 3500 real estate agents licensed with the Edmonton Real Estate Board, most actively practising, allowing homeowners several choices finding an agent who can properly target market your property.

Below are the top 5 questions to ask Edmonton REALTORS®

How long have you been in the business?

You may have found an agent online, because they are tech-savvy, but may lack experience. An "old-time" REALTOR® may have several years of experience but lack the marketing knowledge they need to expose your property to qualified buyers. A long time in the business is a benefit because it creates the experience. Agents who have been in the business for a few decades have experience in both good and bad markets and will know how to adjust. These REALTORS® usually have larger databases, are the most creative and think outside the box.

Do you have another part-time job?

Listen carefully to the answer. Agents who are not full time, may not be as motivated to get your home sold. Real Estate is an expensive business with company fees, licences, photographers, graphic designers, vehicle maintenance, office tools, conveyancing fees, signage, desk fees, websites, internet syndication systems, etc. Every REALTOR® must be full-time to join our REMAX team to ensure our client's top-notch service.

How do you prefer to communicate and how often?

This is a two-way question. As licensed real estate agents in the province of Alberta, we are obligated to work in our clients best interest. This means, if you prefer to be notified of showings via phone calls, emails or text messages, your agent will need to know this - this is part of our fiducuary duties. Some agents will only send you a text and assume you received it. Ask how often you will be notified of feedback from other agents who have shown your home. You do not want an agent to list your home and you don't hear from them until either you receive an offer or your home is about to expire. Select an agent who communicates well to eliminate confusion.

Do you do Open Houses?

Not all real estate agents do open houses. If you live in an apartment condominium, it may also not be allowed. - Check your bylaws! Some REALTORS® love doing open houses because it gives them the opportunity to pick up more buyers and sellers. Some agents prefer not to due to the fact they are responsible for every person entering your home during the time allocated.

Other Questions you may also want to ask include

• Education. Ask about degrees and certifications.
• Do you work with your buyers under a buyer brokerage agreement?
• How many transactions have you been involved with in your entire career?
• How many transactions have you handled year-to-date?
• Have you ever been subject to disciplinary action?
• Are you a listing agent or a buyer's agent?
• What price range do you generally work in?
• Do you have a network of other productive agents which you work with?
• What would you say are your strongest attributes as an agent?

If you have a selling question, feel free to ask. We are here to help.