Comox Valley real estate agency is a phrase that describes the professional relationship that exists between a realtor and their real estate client. Many years ago when I was a first time home buyer I naively thought that our real estate agent was working for us, and that they were looking after our needs. I was wrong. Back then (in Ontario) she was actually working for the home seller. We ended up paying more for the house than we should have, and we discovered a number of things wrong with the house months after the purchase that cost us a significant amount of money to have fixed. Looking back at my real estate experiences as a client, it is now clear to me that not all REALTORS® placed our real estate needs as their top priority. Perhaps this was, at least in part, because of the type of relationships into which they were allowed to enter. Over the years we found that these relationships varied between provinces.
Any Comox Valley realtor ® (and the brokerages that they are licensed to work through) currently works within a legal relationship called “agency”. You can be represented within a “single agency” relationship as a Seller or a Buyer, or you can be represented within a “dual agency” relationship. You can also work with a Realtor when there is “no agency” relationship. In simple terms, you are considered to be a client in an agency relationship and more of a customer when there is no agency relationship. Realtors have specific duties to you when you are a client.
All of these terms and the relationships with which they are affiliated are explained in the brochure called “Working with a REALTOR®” published by the British Columbia Real Estate Association. If you do not fully understand them, ask your REALTOR® to explain them so that you do not have any surprises later in the relationship when a particular circumstance necessitates a change in the relationship. As the old adage states “forewarned is forearmed”.
We, as Comox Valley real estate agents, have an obligation to explain these relationships to you at the earliest opportunity. This is interpreted to mean prior to us providing professional services to you such as showing you a home if you are a buyer. REALTORS® can provide you with an array of professional services but some limitations are placed on us according to the type of legal relationship within which we are working. Ask us questions to make sure you are getting the information that you need to buy or sell your home or property with confidence, and with no surprises.
During my first 35-year professional career I moved my family 18 times all across North America. During these moves I gained significant experience as a real estate client. Life experience is a great teacher. As a committed lifelong learner, I believe that it is extremely important to identify lessons from the past so that they can be effectively applied to the future. As Confucius once said “Success depends upon previous preparation, and without such preparation there is sure to be failure.” As a REALTOR®, I am putting my life experiences as a real estate client to work so that I can better serve the real estate needs of my own clients. Do you need a Comox Valley realtor who will go Above & Beyond to meet your real estate needs? Contact Brett Cairns of RE/MAX Ocean Pacific Realty and experience his real estate service for yourself.
by Brett Cairns