Working with Professional Realtor Doris Wyatt
With a professional realtor, Doris Wyatt on your team, you will receive the highest level of service and integrity.
I work within my brokerage as an agent for you and have established an agency relationship that exists between you (the client) and the brokerage (me, the agent).
We use buyer brokerage and seller brokerage agreements as part of a legal and standard practice within the province of Alberta. These are legal and binding contracts and carry with it the 6 essential elements of contracts (capacity of parties*legal object*legal intention*consideration*mutual agreement*genuine consent).
It is important that clients know and understand how the agency relationship promotes their best interests and the agent is obligated to follow the fiduciary duties as outlined below:
- *Undivided Loyalty (The Agent must act solely in the best interests of the Client, must always put the interests of the Client above the Agent’s own interests and above the interests of other parties. Among other things, this means avoiding conflicts of interest and protecting the Client’s negotiating position at all times.)
- *Confidentiality (The Agent has a duty to keep the confidences of the Client. Confidential information includes any information concerning the Client, the property or the transaction that is not required by law to be disclosed, but which, if disclosed, could be used by another party to the disadvantage of the Client. It is important to note that the duty of confidentiality continues even after the agency relationship ends.)
- *Full disclosure (The Agent must inform the Client of all facts known to the Agent that might affect their relationship or influence the Client’s decision in a real estate transaction. This includes any conflicts of interest they might have in the course of providing services to the Client.)
As well as the fiduciary obligations agents are mandated to promote and practice general obligations:
- *Obedience (As long as instructions are reasonable and ordinary under the circumstances, the Agent must obey all lawful instructions of the Client. If the Client asks the Agent to do something unlawful, the Agent would be obliged to terminate the relationship and any existing service agreement.)
- *Reasonable Care and Skill (The Agent must exercise reasonable care and skill in performing all assigned duties. The Agent is expected to meet the standard of care that a reasonable and competent person would exercise in a similar situation.)
- *Full Accounting (The Agent must account for all money and property placed in the Agent’s hands while acting for the Client.)
Entering in a binding contract is a two-way agreement, the Client, as well, has duties towards the Agent. You have the duty to:
- Compensate the Agent for the expenses that the Agent incurs as a result of carrying out its responsibilities as requested on your behalf;
- Pay any agreed-upon remuneration or compensation as outlined in the signed service agreement;
- Disclose to the Agent matters that could affect a transaction, including material facts that must be passed on to the third party in the real estate transaction.
You should also consider it your responsibility to read carefully all documents and understand what you are signing.
If you need specialized advice, seek other professionals such as lawyers, accountants and inspectors.