Generally, There Is “No Cost” To A Buyer, When Using A Realtor
Buyers Realtor & What They Do: In many types of business dealings, including the business of real estate sales, an AGENT represents someone else, called the Principal (you), in dealing with other people. The agent becomes a "substitute" for the principal: he or she acts, speaks and listens for the principle.
When you employ Terry Marion to help you purchase your home, he will become your AGENT for the sale of that specific property. You will then probably refer to him as your "Real Estate Agent". This relationship between a principal and an Agent is called an AGENCY relationship. The British Columbia Real Estate Association defines the parameters of an Agency relationship as the following.
Your Agency Relationship:REALTORS work within a legal relationship called agency. The agency relationship exists between you, (the principal) and your agent, the company under which the individual salesperson, who is representing you, is licensed. The essence of the agency relationship is that the agent has the authority to represent the principal in dealings with others.
Agents and their salespeople are legally obligated to protect and promote the interests of their principals as they would their own. Specifically, the agent has the following duties:
Undivided loyalty. The agent must protect the principal’s negotiating position at all times, and disclose all unknown facts, which may affect or influence the principal’s decision
To obey all lawful instructions of the principal
An obligation to keep the confidences of the principal
The exercise of reasonable care and skill in performing all assigned duties
The duty to account for all money and property placed in an agent’s hand while acting for the principal
You can expect competent service from Terry Marion, knowing that the company is bound by ethics and the law, and to be honest and thorough in representing a principal.
It is important to understand that in British Columbia the person you hire to assist you to purchase your home must be licensed as either a Real Estate salesperson or a Real Estate Agent
In every Real Estate transaction there is a seller and a buyer. A Real Estate licensee may be employed as an agent for the seller, as an agent for the buyer, or as an agent for both, called a Dual Agent.
Let's Meet:In your first meeting with Terry at his office, Terry will provide you with full disclosure about the nature of our relationship with you, as a buyer, and any relationship you may have, if you are also a seller.
To Buy A Home Call:
Terry Marion Realtor
Royal LePage Showcase Plus 3137 St. John’s Street, Port Moody, British Columbia Canada V3B5R5
