Jeff Shields RE/MAX Anchor Realty serving Qualicum Beach, Parksville, French Creek, Coombs of the Oceanside area on Vancouver Island British Columbia

Jeffery Shields - REALTOR

RE/MAX Anchor Realty
(Independently Owned and Operated)
113 West 2nd Avenue, PO Box 1890
Qualicum Beach, BC V9K 1T5 Canada
Cell: 250-240-5021
Bus: 250-752-2466
Fax: 250-752-2433
Toll Free: 800-668-3622

Working with a Realtor®

What is Agency?

REALTORS® work within a legal relationship called agency. The agency relationship is between, you the client, and your agent, the company with which the REALTOR® is licensed. Most REALTORS® in British Columbia use a blue brochure titled Working with a Real Estate Agent to disclose the nature of the agency relationship with their client.

A REALTOR® can act for a seller or a buyer, or to a limited degree, both. Whomever they represent, REALTORS® have a legal obligation to uphold the integrity of their clients, while protecting and promoting their interests.

See Why use a REALTOR®? for what a REALTOR® can do for you.

Seller's Agent

A Seller's agent represents the interests of the seller in the transaction. In order for your REALTOR® to list your property for sale on the Multiple Listing Service® (MLS®), the Vancouver Island Real Estate Board requires completion of a listing agreement. By signing the listing agreement with you, your REALTOR® has committed to uphold the obligations mentioned above. The listing agreement also states the amount of compensation that the seller will pay the REALTOR®.

Buyer's Agent

A Buyer's agent represents the interests of the buyer in the transaction. The contract of purchase and sale is initiated when an offer is made by the buyer to purchase the seller's property. The contract outlines the terms and conditions of the offer, such as offer price and any subject conditions. The seller may accept or reject the offer or make a counter offer. Once all terms have been accepted and both the seller and the buyer have signed the contract, each party is legally bound to fulfill the conditions of the contract. It is a good practice to enter into an Exclusive Buyer's Agency Agreement with your REALTOR®.

Dual Agency

Dual agency is created when an agent represents both the buyer and a seller. This can happen if a REALTOR® who is representing a buyer sells one of his or her own listings to that buyer. It can also arise by selling a listing by another agent in the same office.

A dual agent must be impartial to both the buyer and the seller and fully disclose all information pertinent to the transaction. A REALTOR® can be a dual agent only if both the seller and the buyer agree in writing.

No Agency

There also situations where a NO AGENCY relationship can be established. If a REALTOR® is representing more than one Buyer in a transaction, he may offer this option to the second or subsequent buyers. In this case the REALTOR® can write and present offers, but can offer no advise to the customer.

Remember

Always read all contracts and disclosure forms before signing. If you have questions regarding agency relationships contact your REALTOR® or local real estate office.