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| Working with a Real Estate Licensee |
Seller's Resources... |
You could sell your own home without the service of a real estate licensee, but selling a home is a complex process.
What is an agent?In many types of business dealings, including the business of real estate transactions, an "agent" represents someone else, called the "principal", in dealing with other people. The agent becomes a "substitute" for the principal: he or she acts, speaks and listens for the principal.This relationship between a principal and an agent is called an "agency" relationship. People often use the service of an agent to accomplish what they do not have the ability, time or desire to do themselves. What is a real estate agent?If you decide to employ someone to help you sell your home, that person becomes your "agent" for the sale of that specific property. You will probably refer to him or her as your "real estate agent".It is important to understand that in British Columbia, the person you hire as an "agent" to assist you to sell you home must be licensed as either a real estate salesperson or a real estate agent. A real estate salesperson must be employed by a real estate agent and both must be licensed. In the discussion which follows, the term "agent", in its general sense, will be correctly used to refer to both types of real estate licensee. How do you choose an agent?There are many ways to find a real estate licensee with a reputation for excellence.Word-of-mouth is one good source. Ask friends, neighbours and fellow employees who have recently bought or sold a house to recommend their choice of an agent. You might meet an agent you like at an open house showing of one of the properties for sale in your neighbourhood. Or, you could contact several local real estate companies to inquire if they have an agent who specializes in selling homes similar to yours. Make appointments with agents to discuss their range of services, background knowledge and fees or commission rates. After these interviews, choose the agent who seems best able to render the services and produce the results you are seeking. What will an agent charge?In general, agents work on a commission basis and receive payment only after the successful completion of a sale. As the seller, you will be asked to agree to pay this commission as a fee for the agent's services. The commission is usually stated as a percentage of the total sale price or as a fixed dollar amount.The commission rate is neither fixed by law nor by any Real Estate Board; it is negotiable between you and the agent you engage to help you. |
| Jeff Stacer PO Box 384 1111 Lakeshore Drive SW, Salmon Arm, BC, Canada V1E 4N5 E-mail: info@shuswaphomes.com |
RE/MAX Shuswap Phone: 250-832-7051 Fax: 250-832-2777 Toll Free: 888-356-9955 www.shuswaphomes.com | |
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Copyright © Jeff Stacer - RE/MAX Shuswap. All rights reserved. | ||