Bart Rybarczyk

100 City Centre Dr #1-702 Mississauga, ON L5B 2C9
Phone: 905-272-5000 Mobile: 416-399-7555 Fax: 905-272-5088 Email Bart

It is important to understand what Realtor obligations are towards you with and without Buyer Agency Agreement Signed. It is highly recommended that you DO sign buyer agency agreement. If you do not feel comfortable to sign buyer agency agreement (also called buyer representation agreement) for extended period then you should at least have it signed for a short time. This way you can "test drive" the Agent, your interests are protected, Agent IS actually working for YOU and you are not committed to the agent for extended period of time.

 

Every Real Estate Agent in Ontario is obligated to explain buyer customer and client agency, the difference between them as well as fine print of the buyer agency agreement.

 

SIGNED BUYERS AGENCY AGREEMENT VS NO BUYERS AGENCY AGREEMENT

 

 

 

Services & Duties Provided

 

Buyer's Agent

Fiduciary Duties

 

No Buyer Representation

 

Honesty & Fairness

 

X

X

Accounting

 

X

X

Reasonable Care & Diligence – obey laws

 

X

X

Confidentiality

 

X

 

Undivided Loyalty – work solely in your best interests

 

X

 

Full Disclosure

 

X

 

Advocacy - Must Act As Your Advocate

 

X

 

Negotiate - best price & terms for you the buyer

 

X

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

With Buyer Agency Agreement Signed My Duties Are:

 

Undivided Loyalty - I Have To Work Solely In Your Best Interests.

 

Obedience - I Have To Seek Out, And Obey, Your Lawful Instructions, Not Exceeding The Scope Of Authority You Give Me.

Reasonable Care & Diligence - I Have To Protect You From Foreseeable Risks & Harm, And Recommend You Obtain Expert Advice Or Assistance.  When Your Needs Are Outside The Scope Of My Expertise.

Confidentiality - I Cannot Communicate Key Personal Information About You, Unless You Authorize Me To Do So.

Full Disclosure - I Have To Disclose All Information To You About The Transaction Which May Affect Your Best Interests.

Accounting - I Must Account For All Moneys Or Property Held On Your Behalf.

Advocacy - I Must Act As Your Advocate.

Inform - I Must Inform You Of Any Available Property, Regardless Of Fee Or Commission Payable To Me.

Price - I Must Not Misrepresent To You The Market Value Or Likely Purchase Price Of Any Property.

  

Without Buyer Agency Agreement signed My Duties Are:

Honesty - Don’t misrepresent.

Fairness - Explain the difference between customer and client.

Accounting - I Must Account For All Moneys Or Property Held On Your Behalf.

Reasonable Care & Diligence - Obey all laws pertaining to transactions.

 


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