In Ontario, prior to 1993, the "policy of agency" (who an agent represents) was that both the listing agent and the selling agent represented the seller (who paid the commission).
Today, the listing agent may represent the seller, and the buyer's agent may represent the buyer.
Buyers have a choice! Generally, sellers still pay the commission but it is paid to the brokerage firm of the listing agent. That firm in turn pays the brokerage firm of the Buyer's agent.
The individual agent is then paid whatever has been agreed upon in their office contract.
Consumers can elect to be represented either by their own Agent or if the situation arises, Buyer and Seller can use the same Agent. That's called a dual representation. In such a case, the agent pledges fairness and honesty to both parties.
For buyers transferring, relocating or asking us for advice on real estate, we represent them as their Buyer's Agent.
How do we do this and what is covered in this representation?
These are our guidelines called Standards of Care...
Standards of Care (what we owe to our Buyers)
Reasonable Care & Diligence
Accountability - for our actions
Benefits to the Buyer:
- Total commitment to the Buyer
- Maximum effort on their behalf
- Exposure to the entire market
- Disclosure of anything that may affect a buyer's decision
- Successful and experienced negotiator on your side
- Privacy for the Buyer
- Strongest possible protection of the Buyer's interests
- Mortgage financing assistance
- Buyers will save money since we will be negotiating to protect their interests.
Will the Buyer need to sign an agreement?
We will extend much effort, time, expertise, loyalty and education to be singularly informed on behalf of our buyers.
Once we have met and our buyers are comfortable with the services we provide, the law requires a written Agreement to be discussed and signed.
For more information, ask us to send you Our Exclusive Client-Buyer Guide.
If you have more questions for us, please send us an e-mail at firstname.lastname@example.org or call us at 519-471-8888.