Hiring an Agent
A real estate agent acts as a representative in a transaction to buy or sell real property. We act in our client’s best interest to assist them in their needs, acting as a trusted advisor in a major decision. It’s commonly misunderstood that we buy and sell property – our clients are the ones who do that, we help make it possible and make sure it’s done right.
In June 2018, rules in British Columbia changed around who an agent can represent in a transaction. Make sure you have a clear discussion with an agent to know if they are YOUR agent, or just AN agent, or if they represent the OTHER party so you are not putting yourself at risk! A real estate agent can no longer act for both the buyer and the seller in the same transaction (except under specific circumstances). This ensures you know that your agent is acting for you and always in your best interests.
For more in depth information on this topic, please reach out and ask me for more info!
You can also find great information on the Real Estate Council of BC’s website. Make sure to check out this Disclosure of Representation in Trading Services form.
Why Hire a REALTOR®
A REALTOR®’s main job is to represent your best interests in a real estate transaction. They will act on your behalf to organize, market, manage and facilitate the sale of your home with a qualified buyer and their agent (if applicable). With the recent industry changes, it is more important than ever to have your own real estate representation in a transaction.
Save Time and Money
Managing your own marketing, researching pricing strategies and coordinating showings with potential buyers takes time. It just makes sense to hire someone to handle that for you, freeing up time to do other important daily tasks. Even better, having their expert advice can save you from getting into stressful situations that could cost you more money down the road. Depending on your situation, a faster sale could also save you from extra living expenses as a result of your home sitting on the market for longer.
Together with common law fiduciary duties under representation, the public/consumer is also protected under written legislation through the Real Estate Services Act (RESA). This requires real estate agents to perform certain duties and act in a manner with the consumer in mind. The Real Estate Council of BC ensures RESA is enforced.
Real estate agents have access to a plethora of tools to help them understand market trends and research properties. If you have a question, your REALTOR® should have an answer, or a contact from whom you can receive the best answer or advice. Direct access to the Multiple Listing Service will allow your agent to get immediate information on new and sold listings. This market knowledge keeps them informed about your selling competition and accurate pricing trends that matter to you.
Don’t settle for just a real estate agent – hiring a REALTOR® means that they abide by additional rules and a code of ethics required by their member board office on top of provincial legislation.
No one likes waiting on hold or trying to communicate with a robot. Hiring a local REALTOR® enables you to be in touch with them directly – via technology or face to face. The location dependent nature of real estate means that knowledge in the immediate local market is key to a successful transaction, and many agents enjoy forming lasting, meaningful connections when working with their clients