Category: agent (5)

QuestionSometimes the best laid plans simply don’t work out and often for a myriad of reasons. When you are working with a real estate professional to sell your home, you enter into a service contract with the Brokerage that your agent is licensed with. The terms of the contract describe what duties and services the Brokerage will perform to sell your property and the remuneration that you will provide upon the successful sale of the property. Inherent in this contract is that both parties must perform their duties. The Brokerage agrees to market the property based on the marketing plan they committed to and you must allow the Brokerage to perform these services and pay them an agreed fee when the property sells during the term of the contract.

If the Brokerage does not perform their duties as agreed when the property was listed you may have reason to ask that the listing agreement be terminated, but both the Brokerage and you must mutually agree to the termination.

If you feel that you are not compatible with your chosen agent, one option may be to ask the Brokerage to provide another agent with the same brokerage to represent you. In this case you are honoring your original contract and, with another agent on the job, you may receive greater satisfaction.

Keep in mind that simply because your property has not sold is not valid reason to cancel a contract. There are many variables in the marketplace that your agent has no control over and the price that you agreed to to market the property may be the limiting factor. Marketing a home is a collaborative effort that you undertake with your agent as your guide – meaning that you are responsible to allow showings, stage the property, disclose all necessary information and price the property in line with the market based on your real estate agent’s advice. Only if you feel that you have performed all of your required duties, the Brokerage cannot provide an suitable alternate Agent and the Brokerage has not performed the services that you agreed would it be reasonable to request a termination. You may find that the Brokerage will accept that situation and be willing to move on, or if they have much invested and do not agree with your rationale they may decide to hold until the expiry of the contract.

During your listing term industry rules prevent any other REALTOR® from soliciting you to sell through them, however you are free to solicit and interview other agents if, for example, you are nearing the end of your term and hope to get a jump on listing with another agent.

The best solution is always to communicate with your agent about your expectations and then work collaboratively to achieve the best results together. When hiring any agent make sure that you obtain referrals and past reviews and ask them to thoroughly explain their marketing plan so you have full knowledge of what the expectations are. It’s important to ask your real estate agent to be honest with you about the condition (what improvements need to be done) as well as the real price they expect the market will bear. Often we chose the agent who tells us what we want to hear, over the agent who is more experienced and qualified or perhaps most honest in pricing your home. In our experience, this misguided selection is the most common cause of dissatisfaction later in the relationship.

Contact Sano Stante Real Estate Group if you have any questions about how to go about selecting the best real estate professional.

open-housesYes, you can go to public open houses without your agent and you are not violating any “threshold” rights of the Agents. However, it is good practice to indicate to the attending Agent that you are currently working with an Agent (and if you have a Buyer’s agent contract). Providing this information is a courtesy to both your existing Agent and the attending Agent. It makes your open house visit more enjoyable because the attending Agent will leave you be and not bother to try and extract your contact information (other than perhaps your name). You should also notify your Agent when you are visiting open houses because often there may be trade information that your Agent will be able to pass on to make your visit more valuable and he may also choose to notify the attending agent of your impending visit. These are all good practices that make your working with an Real Estate Agent more enjoyable and productive. Remember that if you are wishing to view a property outside of a scheduled an open house it is best practice to contact the Agent that you are working with (the Agent that will be representing you) and Not the listing agent to tour the property. If a situation arises outside these parameters or when in doubt, always call your Agent ahead to avoid any mis-communication.

If the other company is a member of a cooperative Multiple Listing Service® (MLS®)  which your  Agent belongs, then they share listing information to all members. For Sale By Owner (FSBO) properties are not listed in MLS® so an agent would be required to contact the Owner to receive the property information and if you are working with your Agent under a buyer agency agreement, your agent may be able to help you purchase a FSBO.

Sometimes if you call on a sign, an listing agent may entice you to work through them “exclusively”.  Be aware that the Listing Realtor may be obligated to provide fiduciary duties to you (look after your best interest) and you may be treated as simply a customer.  If you have an Agent or REALTOR® that you know and trust, you should always check with them first or simply insist that you will be represented by your REALTOR® and that your REALTOR® will contact them to obtain further information. Almost always the Seller has a commission or fee allocated to the Buyers agent. The only incentive for dealing exclusively is for the listing agent who hopes to be paid the buyer agent portion of the commission also. By insisting on represntation you can ensure that your interests will be best represented and that you agent is paid for his work further enhancing your working relationship with your chosen agent.

The purchase of a home is one of the most important decisions that most of us will ever make. When selling a home, most people are aware of the listing agreement between the seller and a real estate agent which spells out the services and duties that  your real estate agent  will perform, but did you know that there is also an agreement that guarantees the services you will receive from your real estate agent when buying a property? It’s called a Buyer Representation Agreement (B.R.A.).

The B.R.A. is a contract between you, as a buyer, and your real estate agent. This agreement helps to ensure you will receive the very best “Client Service” and representation your real estate agent has to offer, rather than regular “Customer Service”. To fully understand the benefits of a B.R.A., it’s important to note the difference between Customer and Client Service in the real estate agent/buyer relationship.

In the Client Service buyer relationship, you enter into the B.R.A. knowing the real estate agent is taking a vested interest in your buying experience. You are becoming your real estate agent’s client and they is working exclusively for you. Your real estate agent will work with you to discover your needs, help find the best property for you, notify you of all new listings (including properties not listed or for sale privately), will provide you with expert advice, facts and comparisons to other properties, and will be instrumental in the negotiating your purchase; providing advice such as offering price counseling, financing alternatives and actively negotiating exclusively on your behalf.

As a Customers Service buyer, we can expect a real estate agent to show us the requested listing, present the material facts about the property, and show us properties within the criteria we have provided. What we need to realize is that in this relationship, the real estate agent may be previously contracted to work in the best interests of another client and
this may be the seller of the property. In any event, as a Customer the real estate agent is always ensured to provide you, the buyer, a good sales experience. Additionally, you should expect that the status of these relationships will always be disclosed to you by your real estate agent.

The Client Service buyer relationship is more involved. This relationship differs from the Customer service buyer relationship in
that it empowers your real estate agent to utilize his or her skills through all stages of the real estate transaction, and leaving ‘no stone unturned’ when it comes to your home purchasing experience.

Signing a B.R.A. does not mean you have to buy anything. It simply states that if you do purchase a home during the term of your contract, you will use this particular brokerage and that they will be compensated for the services they have provided. It also does not require you to pay up front when this compensation is most often included in the sale price through the cooperating listing contract. Alternately, you may chose to pay the fees directly thereby deducting this component from the sale price. You can also use a B.R.A. to ‘test drive’ your real estate agent. You and your real estate agent can determine the length of the contract and ensure that you and your real estate agent feel this relationship is a good fit for both of you.

When you are buying your home, why not receive the best representation possible? In one of your most important decisions of your life, signing a B.R.A. ensures that you have your selected real estate agent representing your best interests in your home purchase and that your real estate agent is working exclusively for you.

It seems amazing at times how we can entrust one of the largest decisions and investments of our lives to a perfect stranger. Maybe we go through a short interview process, see if we connect with the person in a short matter of time, or many times we follow the advice of a colleague or co-worker and hope for the best. If you were lucky enough to have them refer you to Sano and his team then you are in good hands, but really how well do you know Sano?

Sano offers his clients over 30 years of experience in the Calgary Real Estate market. Amazingly, after all that time, he has become more passionate about the industry, his clients and their needs.  Along the way he committed seven years striving to improve the professionalism in the industry as a Director of the Calgary Real Estate Board and was elected the CREB President in 2011 and an honorary life member in 2012. A recipient of almost every Real Estate award, Real Estate has not been just a career for him, but a passion. This is important to understand because in Calgary alone there are currently 5150+ REALTORS®  many who are not full-time professionals. There is a rule of thumb that is known within the Real Estate industry and stands true to this day; less than 20% of agents do over 80% of the Real Estate business! Given the complexity and seriousness of a major Real Estate transaction,  one must ask themselves if the person they are choosing to represent them falls into this elite group of professionals.

Sano has built his business from the ground up based on repeat clientele, referrals and reputation. The most important measure of success, as echoed by Sano on many occasions, is when a client refers their loved ones and friends to our services—a compliment towering over any award.

Now, some might think that’s enough—a busy family office with several Associates, countless hours spent working within the industry and with his clients to ensure their getting the most of his services, but not for Sano. A consummate professional who continually keeps himself and his team up with the newest trends and marketing strategies, Sano’s vision of service to the clients of Sano Stante Real Estate Group (SSRE) really is at the pinnacle of the industry and the results of SSRE are a testament to this.

As a past or future client of Sano Stante Real Estate Marketing, we encourage you to see why Sano,  is ranked one of the top REALTORS® in Calgary, in the #1 Remax office worldwide. Along with Dan Stante and an outstanding team of administrative associates they share one goal—to provide the best possible service and build upon a stellar reputation already proven through the test of time.

Allow us to re-introduce ourselves to you and provide you with our award winning services for your next real estate transaction. If the finest professional expert advice and negotiation skills are what you demand, we deliver and for the same cost or less than competing agencies! Call us today to put the best real estate service to work for you today.