The Real Estate Council of Alberta introduced mandatory written service agreements to enhance consumer protection, by providing greater clarity of the roles and obligations between real estate professionals and their clients, and to reduce any potential for conflicts and confusion.
1. How do I learn about options for a working relationship with a real estate professional?
The real estate professional will explain the options available, and give you a Consumer Relationships Guide that outlines the options, the difference between being a customer or a client, and the responsibilities of the real estate professional in each option.
2. Are Buyer Representation Agreements mandatory?
Yes. As of July 1, 2014, the Real Estate Council of Alberta requires residential real estate professionals to use written service agreements when working with a client. Real estate professionals will ask buyer and seller clients to sign a written service agreement.
3. What is the purpose of written service agreements?
Written service agreements inform clients about what they can and should expect from their relationship with their authorized industry professional. They:
- describe the responsibilities and services of the real estate professional
- outline the obligations of the real estate professional and the client
- set out the fees (if any) or how the industry professional will be compensated
- provide consent to collect, maintain, use, and distribute a client’s personal information
- address any potential conflict of interest scenarios
Items that remind us of special people, events, milestones and interests are
an important part of what makes a home a home. Pictures on the fireplace
mantle, for example, showcase family and friends that are important to us.
You might also have trophies, certificates, greeting cards, and other
mementoes on display in key places.
Of course, all of those things add warmth and meaning to your home.
However, if you’re preparing your home for sale, it’s a good idea to pack
those memories away – at least until you’ve sold your property and moved to
your new home.
Why? Because those pleasant mementoes that mean so much to you may
actually turn off potential buyers.
You see, when buyers view your property, you want them to be able to
clearly picture themselves and their families living there. That’s difficult to do
if everywhere they look they see reminders that this is your home!
So, to help sell your home quickly, make it look great, but not personalized.
Think of the showroom displays you see set up in furniture stores. Those
displays are most appealing when they enable you to easily picture yourself,
with that furniture, in your home. You probably wouldn’t feel that way if it
looked like the furniture belonged to someone else.
Of course, buyers will know you currently live in your home. But helping
them imagine themselves living there will help you sell your property faster –
and possibly for a better price.
Need more tips on preparing your home for sale? Call Today!
Hey everyone check day 10 of giving on the Jason Gregor show today i have donated my seller’s commission for your house. (In a regular sale half the commission goes to the seller realtor and half to the buyer. So this is $3.5% on the first $100,000 and $1.5% on the balance).
On a $500,000 house that is a value of $9,500.00 just to give you a reference point.
You can bid on this package by calling 780.444.1260 between 2-6 p.m. today.
The Edmonton Cotton Club is an approved fundraiser for the Stollery Children’s Hospital Foundation. The purpose of the event is to raise funds for the Stollery Children’s Hospital. The 2013 Edmonton Cotton Club will be held at the Venue at River Cree Resort, on Friday, October 26th, 2013.
Your support is important to the success of this fundraiser and the mission of the Stollery Children’s Hospital Foundation. We encourage donors to support the 2012 Cotton Club through sponsorship, auction items, and cash donations. Benefits for event sponsors are determined by event organizers and are not eligible for tax receipting. Tax receipts are only issued for cash donations over $25.00 and donors will be asked to submit personal information for the purpose of tax receipting.
The Stollery Children’s Hospital Foundation enhances health services for children by raising money to support the Stollery Children’s Hospital and programs that support health, prevent disease and treat illness. Funding provided by the Foundations supports heal services for children through education, research, infrastructure and acquisition of equipment.
I just Love this page on the CMHC web site it really help you to know “Are you financially ready” to owning a home it breaks it down from your current Household Expenses to your Monthly Debt Payments.
You then add it all up and head down to How Much Can You Afford and the affordability rules are FANTASTIC I love Rule 1; monthly housing costs shouldn’t be more than 32% of your gross monthly income. Housing costs include your monthly mortgage payments (principal and interest), property taxes and heating expenses. This is known as PITH for short — Principal, Interest, Taxes and Heating.
I Really want eveyone to read this i think it is super important to know how much it RELLY costs to own a home bill,maintance and what overall life style you want to live no wantes to be a slave to home paymenall play a part
Click on the link below a MUST READ!
Buying a home is an exciting venture, but there can often be security risks attached to the purchase. I’m referring to those risks that are inherited – either from the builder or the previous homeowner.
Keys are a perfect example. It’s exciting to receive the keys to a new home, but you need to ask yourself whether they’re the only keys to the house.
Did the previous homeowner loan keys to caregivers, family members, neighbours or cleaning companies that may not have been returned?
This is why you need to rekey all the locks in your new home.
Rekeying should not be confused with replacing a lock. You don’t need to replace the locks in your new home to lock out the previous key. A locksmith simply disassembles the lock cylinder – the area that accepts the key – discards the old pins, and replaces them with ones that fit your new key. This is not an expensive procedure, and it usually only takes a few minutes to change several locks.
If you’re in the market for a pre-owned home or thinking of selling your home, you might want to look more closely at the certified pre-owned home program.
The concept is brand new to Edmonton, one of only two cities in Western Canada (Kelowna being the other) offering the program. Modelled after the certified pre-owned vehicle program that has been around for some time, the pre-owned home program has advantages for both the buyer and the seller.
It involves an inspection by a qualified home inspector, at the seller’s expense before the home goes on the market. The seller must complete any repairs, the house is then re-inspected and is listed as “Certified Pre-Owned.” Potential buyers receive a summary of the inspection so they know what corrections were made.
The other component to the program is a one-year home warranty provided to the buyer. The home warranty is paid for by the seller and offers structural coverage for the roof, siding and foundation, as well as home appliances and home systems such as interior plumbing and electrical, hot water heater, ductwork and central heating.
The home warranty insurance is different from homeowner’s insurance, which covers damage to the home due to fire, flood or lightning and is the buyer’s responsibility.The total cost to have your home listed as certified pre-owned is around $800, including the home inspection and the home warranty insurance
Check out this home located right here in Alberta:
Defined by its exquisite craftsmanship and impeccable taste and detail, this home features more than 13,000sqft., five bedrooms, nine baths, a two-storey library and 18-seat movie theatre. The indoor pool/hot tub area features a glass roof. The gated entrance leads you down a paved circular driveway to the tennis court, picket fenced garden area, playground, island pond with cascading waterfall and bridge that leads to a private island w/covered sitting area. The property consists of 117 acres with unobstructed views of the mountains.
See all the photos at the lin below thank you to the Edmonton journal for sharing!
The REALTORS® Association of Edmonton released their annual housing forecast today at a seminar at the Northlands Expo Centre attended by 700 REALTORS® and business people. President Darrell Cook forecast that the value of MLS® sales in 2013 will increase by about 3% for the year after sales of $7 billion in 2012. This is based on a three percent increase in the number of homes sold and increased prices. Cook expects that single family homes, duplexes and rowhouses will increase on average by 2% while the average price for condos will increase by one percent next year.
“We are positioned in the best economy in Canada and perhaps the world,” said Cook. “It is hard to make a restrained forecast when we have job growth, in-migration, low vacancy rates and continuing low interest rates.”
His remarks echoed the predictions of five other speakers at the seminar including Premier Alison Redford who highlighted the value of the housing industry to the Alberta economy. Also presenting at the event were John Rose, Chief Economist for the City of Edmonton; Angus Watt from National Bank of Canada; Brad Ferguson, the President and CEO of Edmonton Economic Development Corporation; and David Lan, Senior Market Analyst from CMHC.
Cook forecast that the year-long average selling price for a single family home, sold through the Multiple Listing Service® in 2013 will increase from $382 thousand to $390 thousand. The average price for a condominium property will increase from $235,500 to $237,800. Although the inventory of available housing is low at this time of year, Cook suggested that increasing prices in the first six months will convince owners to begin listing their property and increased choice for buyers will result.
Cook suggested that, because of our solid economy, the strong interest in acreage properties will continue in 2013 and sales of recreational and vacant properties will also increase as the prices of properties in sun-belt destinations recover and local recreational properties become more comparable in price.
Commercial and industrial sales through the MLS® were up 25% in 2012 and REALTORS® expect the trend to continue next year with an increase in total value from $310 million to $320 million. There will be demand for small office/warehouse lease properties as our strong economy spawns new and expanding businesses.
The role of the REALTOR® has been much discussed in the past two years. Cook urged the members of the REALTORS® Association of Edmonton to focus on client service, education and satisfaction and to continue to demonstrate the value that the REALTOR® has brought to the community and the real estate transaction for the past 85 years.