All licensees are required to define their agency duties as soon as possible and to fully explain this relationship to their clients. Within the purchasing agency, this procedure should include that the regulation does not address how a seller must assert a contractual right to obtain a “profit” from a transfer of the contract. If you are working with a seller who has questions about the remedies available to you, if the buyer refuses to pay him the “benefit” of a transfer order, you should advise him to seek independent legal advice. The buyer agrees to sign an exclusive purchasing agency agreement that will confirm the amount of compensation that the buyer`s representative will receive, if you are concerned that certain goods offered for sale will not receive the desired compensation, you should discuss this with your buying customers before the situation occurs, and agree on what happens if this happens. This process is similar to what a licensee would use when creating a list presentation. Step 2: You must always disclose the amount (or the likely amount or method of calculating the amount). An effective way would be to provide a buyer/client with a copy of the MLS ® information that respects the property concerned, including the remuneration offered to a cooperating broker. This would be effective disclosure as long as the total amount or method of calculating the total amount is clear (for example. B, every bonus offered or additional amount is included in the information). If the buyer/client had this information at first, it would be a useful confirmation. It is obvious that an alternative method of disclosure would be necessary if a property that is considered is not mentioned on MLS®.
When working with a buyer, a licensee is responsible for verifying all the information he knows or needs to know is important to the buyer. As a buyer, you need to be informed and trained every step of the home buying process, and it can be difficult to set aside your search for perfect window treatments if your agent asks you to sign a document that you don`t understand, for example. B an agreement on buyer representation (BUYER Representation Agreement, BRA). According to the Superintendent, the Real Estate Development Marketing Act – opened in a new tab – would generally not apply to First Nations development properties on First Nations land in British Columbia.