Mark Savel

Instead of initially shopping for a property, shop for a capable representative to represent you. A buyer seeking client status representation needs the services of a competent, concerned representative rather than a "good listener”. When you find that representative, he or she will spend an hour or two talking with you to determine your specific needs and objectives. This procedure is called counselling. Counselling considers the financial aspects of your situation balanced with your personal comfort zones.

Assuming your objectives are compatible with the representative's ability to help, the representative will suggest that you employ the firm as a BUYER Brokerage. An appropriate Employment Agreement will be executed.

Congratulations! You have now broken the traditional pattern of being a customer and have attained client status. Your representative's efforts are directed to benefit and protect you, and to get the right property at the right price and terms for you.

Customers usually see only listed properties, but the entire market place opens up for a client who has employed a BUYER Brokerage. The benefit of access to all properties is crucial to home buyers. A Buyer's Brokerage is the only representative who can legally and ethically negotiate the best price and terms for the buyer/client. A competent Buyer's representative will sift through numerous properties and expose the buyer only to those that seem to fit the parameters developed during counselling discussions.

The Buyer's representative will usually devote more time checking out a listing to determine that a property really suits the client's needs. This procedure saves the buyer time and effort when buying real estate the easy way. Finding real estate to purchase can be a frustrating and dangerous experience. When the buyer is a client and has the benefit and protection of a Buyer's Brokerage to guide the way, the experience is less frustrating, safer and on surer ground.

There are two ways to work with a representative when purchasing real estate in Ontario:

1. As a Client:

The representative works for and represents the buyer. The representative owes the buyer:

• Fiduciary Duties
• Loyalty
• Obedience
• Disclosure
• Confidentiality
• Accountability in Dealings

As a buyer's representative, the agent will represent you and your interests in the purchase of your home. This is different from a typical customer transaction where the buyer is not technically represented.

The selling representative however, has the duty to exercise reasonable skill and care in the performance of the Brokerage's duties. This is a duty of honest and fair dealing and a duty to disclose all facts known to the Brokerage which materially and adversely affect the price to be paid for the property.

A dual agency situation can arise if any of our representatives have entered into a Buyers representation agreement and subsequently look at a property listed with our company. This is a potentially challenging situation because it is difficult to afford both parties full fiduciary duty and client level services.

Dual agency should only be entered into with the written agreement of both buyer and seller. Agency is a legal relationship and a written agreement should be completed to explain all the duties and responsibilities.

Once entered into representation, the following should be discussed: final offering price, closing date, any extras or chattels, should get independent legal advice.

Majority of buyers chose a client relationship, as this offers far more protection for the buyer. How can you make sure that I will work for you? Simple!

We create a Buyer Representation by executing a “Buyer Representation Form” which assures you that we will work for you and not the owner of the home.

2. As a Customer:

•The representative works for and represents their client, the seller.
•The representative does not owe the buyer allegiance or loyalty.
•The representative does not owe the buyer confidentiality, and therefore impacts the buyer's opportunity to negotiate.
•There is no relationship or obligation established on either party and therefore no one is looking after the buyer's interests.
•The buyer drives through desirable neighbourhoods, visits open houses and continually reads and calls the classified ads without the input or support of a knowledgeable professional.
• The typical buyer leaves their name and number and says, "Call me when you find something" and wanders off to the next ad or open house where the whole process of meeting and calling a representative, answering questions and waiting for someone to call them back starts all over again.

The majority of buyers find this process to be tedious and frustrating.

If you’re ready to work together and have me represent you as a client, click here to send me an email. I’d love to help!

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