Exclusive Seller Representation Agreement Alberta
Gone are the days when you could get in the car with an agent to look at real estate and hope for the best. Back when clients thought the agent was acting in their best interest, it turned out that they almost always worked for the seller under a sub-agency contract. No public disclosure was required. Today, buyer relationships are very well defined and governed by the Real Estate Act of Alberta. Consumers have better protection, but they still need to train themselves and not just hope that their agent can make it a task. Your written service agreement is a seller representation agreement, also known as a listing agreement. The agreement contains the details of the listing, including list price, inclusions/exclusions, date of possession and lists your responsibilities and obligations as well as those of your real estate agent. Inclusions/Exclusions: Inclusions are items that you include with the sale of your home and exclusions are the items that you exclude. Be specific with your entries and exclusions in your offer agreement and in all offers/counter-offers.
Dower Rights: If you are married in Alberta, but your spouse is not a registered owner of your title deed, you may need their consent to sell the property. The seller`s representation contract concerns the consent of the spouse and your real estate agent can provide you with further information. Attached/unatted goods: Attached items are objects that you cannot remove from the property without causing damage or that are physically linked to the property by pipes, screws, bolts or nails. Attached goods remain in ownership unless there is a specific exclusion in the listung agreement or in a buyer`s offer to purchase. This includes: 4. Signing an agreement with an agent does not limit you to collaborating with that agent. In this case, it really depends on what you have signed. You have the opportunity to cooperate with other agents under non-exclusive agreements. An exclusive buyer representation agreement requires you to cooperate with the agent with whom you have signed the agreement for the duration and against the fee set out in the agreement. It also requires the agent to work for you and provide the services agreed in the contract. If you have signed an exclusive agreement and have chosen to collaborate with other agents, you may owe a commission to more than one agent if you opt for the purchase. For the purposes of this article, the context of the buyer.
Agency relationships are the same for a seller. The term seller can be interpreted as a broker of the seller or, if it is not represented by a broker, by the seller. If you`re in contact with an agent for the first time, your relationship is that of a customer. This means that you do not have the benefits, protection and services associated with an agency relationship until you sign up for a written service contract to become a customer. If your agent agrees to offer ongoing services to a client, you can request to become a client at any time if you think representation may be needed until they sit down and write an offer. Among the fundamental obligations related to the competent service of a real estate professional who is in a representational relationship with a buyer are the following: According to the law, sellers and their real estate representatives must disclose significant latent defects known to potential buyers. . . .