Category: Other Stuff

Alberta Buyer Representation Agreement Retainers

Changes are in the wind once more for Alberta Real Estate Agents and real estate buyers.  Effective July 1, 2014 all Real Estate Brokerages are required by law, to have written Service Agreements with all buyers.  Currently, only brokerages who operate under the model have been required to have these on file as of February 1, 2014.  The term of agreement can be whatever is agreed upon by the parties.

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Agency Relationships in Alberta Real Estate

As a member of the public who is simply making an inquiry on a property to purchase, you are deemed to be a “customer” of the brokerage.  As you have not agreed to become a client of the brokerage, the real estate practitioner is not in a position to express any opinion or give advice , and may only  provide you with factual information which will assist you in making an informed decision in order to  facilitate a real estate transaction. 

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MLS® Reporting Rule Changes results in Public Confusion

Imagine a car dealership placing ads in the newspaper for cars which were already sold.  The customers arrive at the dealership at which time you bump into another buyer who tells you on the QT that many of the cars they led you believe were for sale, might have actually have already been sold, subject to the buyer’s receiving financing.  He then goes on to explain that  the boss told the manager to put the ad in, knowing full well those cars were sold because he wants to make the phone ring. 

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Condominium Documents Online – Condominium Management Fees Complaints

Condominium Document Retrieval Fees are something the one doesn’t very often consider or investigate the true cost of, until it is too late.   The reason being is that condominium unit holders seldom are even aware they exist until they go to sell their unit.  At that time, they often discover they have to fork up several hundred dollars more than they had budgeted for, in order to get replacement set because they never received them or they received them and just chucked them in the garbage.

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Non-Disclosure of Conditional Sales – Just a lot of Smoke & Mirrors

The Calgary Real Estate Board has indicated to its members that in an effort to appease the Competition Bureau of Canada, the Calgary Real Estate Board as implemented systems which will allow Sellers the option of not disclosing the existence of a conditional sale of their home. The idea behind this is that it could be argued that  by not disclosing the fact that the property is already under contract, on the Calgary Real Estate Board MLS System®, they might have a better chance of soliciting back-up offers.  Real estate agents should be having this discussion with their seller to determine how they would like this to be handled.

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CIR Realty Converts to Designated Agency Brokerage Model

Effective January 1st, 2013, CIR Realty has hung up their Transaction Brokerage License in favour of the more practical Designated Agency Model.   This change was long overdue, but since the Designated Agency Model was only rolled out about five years ago, we are one of the first in the City of Calgary to adopt it.

The vast majority of the public may not even know or care about what type of agency license their brokerage operates under, however there are some serious implications under law.

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