Edmonton Real Estate Agent - Edmonton Homes

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How real estate agents help home buyers

There are several reasons why buyers prefer to work with real estate agents when buying a home, even when a buyer has sold their existing home via "For Sale by Owner". The few of these reasons include knowledge of the ever changing markets, expertise in both negotiations and communities, experience and exclusive real estate tools.


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A large portion of Canadian Real Estate Agents have earned their ABR (Accredited Buyers Representation) designation, which means, these REALTORS® have completed the education needed to service buyers with a higher standard. REALTORS® who are representing buyers expect to get paid for their services at some point in time. It is usually within a few weeks of the buyer taking possession of their new home. In the province of Alberta and to ensure real estate agents' are compensated for their services, a mandated agreement by RECA (Real Estate Council of Alberta) will need to be signed. It explains how much, the term of the agreement, what services will be provided and other relevant information.


If you have questions - ASK. Never sign anything you do not fully understand. Real Estate Agents deal with forms on a daily basis, and most of us can explain listing and purchase agreements without even looking at them. A good REALTOR® should have gone through each agreement and address questions or concerns you may have had. Near the bottom of both the Buyers Agreement and Sellers Agreement, there is an acknowledgement clause prior to signature placement. 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.

Which 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 fiduary 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 real estate question? We are here to help. Contact us anytime

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Real Estate Agent Fiduciary Duties

Real Estate Agents in Edmonton and the province of Alberta who is in an agency capacity for buyer or seller clients have duties mandated by the legal system called fiduciary duties. The position of the REALTOR® is a fiduciary capacity, acting in the best interests of the client.


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  • Obedience:  Your real estate agent must obey your instructions as long as it is legal and in accordance with your brokerage agreement.
  • Loyalty:  Your real estate agent must be loyal and keep your best interests ahead of those of any other party, including themselves.
  • Disclosure:  In the province of Alberta, the law requires real estate agents, whether in an "agency" capacity or not, to disclose material facts to their client. Material facts are those that, if known by the buyer or seller, might have caused them to change their purchase or sale actions. In a signed agency agreement, your real estate agent must disclose more than the material facts. They must disclose all known or suspected information regarding the purchase of the property.
  • Confidentiality: A real estate agents fiduciary duty of confidentiality means that nothing learned about you can be disclosed including your business, financial, personal affairs or motivations. This confidentiality fiduciary duty must be maintained for eternity.
  • Accounting: Your real estate agent is accountable for all documents and funds in the transaction. Accurate reporting of the whereabouts of all monies pertaining to the transaction and the ultimate disposition. All documents are to be kept for at least six years.
  • Reasonable Care: The words "reasonable care" are only finally fully defined in many cases by a judge or jury when it's too late to change your actions. Most Edmonton Real Estate Agents, as a rule of thumb, go by the ethics code "What we know, you know" when acting in an agency relationship.
Whether you work with a real estate agent  in Edmonton under a "customer status" or a "client status", before signing any other paperwork, REALTORS® in Edmonton and the surrounding areas have a regulatory requirement to present and discuss our Consumer Relationship Guide with you which includes the real estate agency relationship you have chosen to work under. A copy of this form can be found at the Real Estate Council of Alberta
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Understanding Buyers Brokerage Agreements

Buyer Brokerage Agreements have been around for several years, and only recently has been mandated for real estate agents to have buyers under agreement when working in a "client status". This legal change created security for both consumers and real estates in Edmonton and throughout Alberta. This form states the responsibilities of both the buyer and their real estate agent including:


  • The mandated Fiduciary Duties, to protect interests of the buyer
  • The buyer cannot hire more than one broker or real estate agent to represent them
  • The term of the agreement. Depending on the real estate market and how long the real estate agent chooses to work with a buyer, this agreement is normally 30 Days to 1 year and allows enough time for the buyer to purchase a home. If the buyer has not purchased a home during the time frame, they may extend the agreement or sign with another agent.
  • The retainer fee (normally $1000 - $2500) which is held in trust by the real estate agent/broker and forms part of the buyers down payment.
  • Remuneration is stated in the agreement and can not be changed without written consent from all parties. This protects the agents commissions and allows the buyer to know how much the REALTOR receives for their services. (usually paid for by the sellers real estate agent)
  • While under agreement, If the buyer elects to purchase a property without the help of their real estate agent, they will owe the agency the commission set out as per their Buyers Brokerage Agreement.
  • This agreement also lays out the obligations and duties of the real estate agent ensuring the agency is working in the buyers best interest. Some of these obligations may include

For more information on working under a Buyers Brokerage Agreement, feel free to contact us.

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Data is deemed reliable but is not guaranteed accurate by the REALTORS® Association of Edmonton.