Buyer's Agency

AS PROFESSIONALS, we use a "Buyer's Agency Agreement" with many buyer clients. This Agreement is a mutual promise that benefits you and allows us to work on your behalf with complete focus. Download the Agreement

What is it?

Buyer's Agency can be seen as the flip side to Seller's Agency. Whereas sellers sign an agreement with a realtor to list a property, in buyer's agency the buyer and realtor also formalize a committment to work together. It does NOT require you to buy.

The history of agency in BC

Buyer Agency is a new concept in B.C. Real Estate. It was introduced in 1995 through the combined efforts of the Provincial Government, The Real Estate Council and the B.C. Real Estate Association.

Prior to 1995 any Realtor working with a buyer was actually working as a “Subagent” to the listing agent who, of course, was working for the seller. In effect both Realtors were obligated to represent the seller’s interests and the buyer was not represented in a transaction.

Today: fortunately, for buyers, the new law of Buyer Agency now provides that a Buyer’s Agent now has duties of loyalty, confidentiality, full disclosure, financial accountability and reasonable care and skill. The obligations of the buyer and the Buyer’s Agent are defined in the Buyer’s Agent Contract.

What are the benefits of a formal Buyer-Agent relationship?

• A Focus On You
  As a formal buyer's agent for you, we can give you our full attention because we know that you have equally committed to me.
• Professionalism
  Buyer's Agency is in essence a statement of professionalism. It encourages confidence in the process and a persuit of the highest professional results.
• Save Time
  With a clear committment to a goal by all of us, time is saved and the process is more efficienct. You will know that your needs are my top priority.
• Loyalty
  The formalization of our loyalty requires us to act at all times in your best interest. And we have the assurance that you are similarly concerned with our success.
• All Properties
  We will work to identify, and inform you about, all properties that potentially meet your needs. For example, we will seek to locate any suitable "For Sale By Owner" properties.
• Legal Clarity
  To the benefit of both parties, legal issues are clarified by the Buyer's Agency contract that are obviously not addressed where the agent-client relationship is not formalized.

Our job as your Agent

• To explain the agency relationship between buyers, realtors and sellers
• To help you determine what you can afford to buy
• Provide information on all suitable properties and arrange showings as required
• Negotiate on your behalf in order to achieve the best deal on the property you select
• Prepare contract documents and guide you throughout the contractual process
• Locate information on the subject property such as title search and strata documents
• Provide assistance re: financing, appraisal, inspection, and legal services
• Follow and provide guidance through all the steps toward completion and occupancy
• To be loyal and represent your interest faithfully
• To maintain confidentiality regarding your finances, motives and personal facts
• To disclose all facts and knowledge which I have that may pertain to your decisions

Your job as oue Buyer

• Provide us with accurate information regarding your home requirements
• Furnish honest information regarding your financial capabilities and time frame
• Notify us of all properties that are of interest to you (including private sales)
• Give us feedback on all properties considered or viewed
• Choose the property that you want to buy
• Negotiate in good faith once a suitable property has been found
• Help to ensure that we get paid for our efforts

Download the Agreement