Working with a REALTOR®
Buying and selling real estate is one of the largest and most important transactions that the average person makes in his/her lifte. To take the guesswork out of buying or selling a home, most people work with a professional and licensed REALTOR® to make sure that the transaction is legal and of good value. So, it’s considered a good idea to understand the type of relationship that you are going to have with that REALTOR®. The relationship between the buyer/seller and their Realtor® is a legal relationship referred to as agency.
In the beginning of your relationship with a REALTOR®, in the Provice of British Columbia, you will be shown a form titled “Working With a REALTOR®”. This form describes the different types of agency relationships that a buyer or seller can have with a REALTOR® and his/her brokerage. To learn more about how the agency relationship works, follow this link to view the “Working With a REALTOR®” form produced by the British Columbia Real Estate Association. To visit the BCREA website click here.
Rules for working with a REALTOR®
- Be honest with yourself – Sit down and make a list of what you REALLY need in a new home, what you REALLY want in a new home and what would REALLY be a bonus. Then pick a budget price for purchasing taking into account any closing costs, new furniture, blinds and appliance that you may need upon moving in.
- Be honest with your REALTOR®. Period – Don’t be shy. Your REALTOR® can do a far better job for you when he/she understands your situation, why you’re doing what you’re doing and what your highest or lowest price is.
- Make sure your REALTOR® understands you. If he/she is just not getting it, find another REALTOR® – Shopping for a new home is stressful enough; you shouldn’t have to struggle with your professionals too. If you feel guilty because your REALTOR® is a friend or relative, politely tell them that you feel there would be less stress on your relationship if you were to work with someone else and ask him/her to refer you to another REALTOR®.