JAC THEELEN REALTY

Jac Theelen Realty

How Real Estate Works

HOW REAL ESTATE WORKS
 
Rules for Real Estate in Alberta 

 

This is a short summary how Real Estate is ruled in Alberta.

First, you need a licence to trade in Real Estate in Alberta. This does not apply when you try to sell your home yourself.

 

When you work with an associate (agent), who is licenced, you are covered.

working outside of province of Alberta?  The associate has to be licenced for that province



When you decide to sell or buy with an agent, now called associate, you will have the following options:

Single assosiate (agent):

This person will work only for you in a transaction.
1. Owes you loyalty
2. Has to follow your instructions lawfully
3. Has to keep your information confidential, even when this relation has ended!
4. Has to help you with reasonable care and skills
5. Has to disclose everything you should have to know regarding the price or what will influence your decision.
6. Full accountability; for all money in trust of the brokerage, and while acting for the client

Facilitator (was Dual Agent)

This person will work for buyer and seller
1. Owes You loyalty
2. Will try to follow your instructions lawfully, as far as they do not interfere with the others party’s interest
No confidentiality to other party except:
· That you will pay a higher price than offered
· That you will accept a lower price than asked
· The reason, Why you are buying or selling

Has to disclose relevant information other than above

Full accountability; for all money in trust of the brokerage, and while acting for the client

 



You have to give written permission to have somebody work for you as a Facilitator. This has to be done early in the process. When you decide to have somebody work for you as a Facilitator9 (was dual agent), be sure you know you are well represented. 

 

Transaction Brokerage

This office will work for you to get the transaction done for the seller and the buyer


 



 

Jac Theelen -
Experienced, work
ing with you to make it happen!
Working to make it a WIN, for allparties involved!!!