Understanding Representation and Agency Agreements??
There is so much confusion about Agency Representation. The short and sweet explanation is this:
- when a salesperson is representing a product, and it doesn't matter if it's a car or house, they are acting under agency and their fiduciary duties belong to the party paying for their services unless they have a contract that says otherwise.
Here are a few differences between a CLIENT and CUSTOMER:
The Buyer Client may divluge any information without fear of disclosure, whereas with the Customer all information is shared.
The Buyer Client has access to the entire market, including private, expired and exclusively listed properties. Whereas with the Customer there is no such obligation.
The Buyer Client is afforded the first opportunity to see new listings as they become available. Whereas the Customer is shown these properties after Clients have had first opportunity.
For more information about the difference of being a Client and a Customer, please feel free to take a look at the attachment. With a click of a button you will not only save a tree, but you can read it on line.
For more information, give me a call at 416 427 1875.
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of service provided by the real estate professionals who are members of CREA. Used under license
The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Used under license