Reasons
to use a REALTOR® rather than an unlicensed FSBO Organization
- REALTORS®
are trained professionals, licensed by the Province of BC
and are accountable to the Real Estate Council of BC.
- REALTORS®
are subject to a higher standard than the minimum standard required by the Real
Estate Services Act. REALTORS® are members of real estate
boards and as such are required to adhere to the Canadian Rea Estate
Association's Code of Ethics and Standards of Business Practice.
- Both
the Real Estate Council and 12 BC real estate boards use a comprehensive
investigatory and disciplinary process to deal with complaints. REALTORS® who are
found to have breached either the legislation or REALTOR® Code are subject to
sanctions by their board and the Real Estate Council.
- REALTORS®
have completed stringent educational and licensing requirements and must be of
good reputation in order to become licensed.
- REALTORS®
are committed to continuing education and consistently refine and improve their
skills and professional knowledge through participation in the profession's
Professional Development Program.
- REALTORS®
are covered by a well funded errors and omissions indemnity plan.
- Transaction
deposits held by real estate brokerages are protected by the Special
Compensation Corporation and are held by the REALTOR®'s brokerage as "stakeholder"
until the transaction completes or the parties give instructions as to the disposition
of the deposit.
- REALTORS®
use standardized forms and have access to well drafted (and court tested) clauses
and phrases which affords a high level of protection and comfort to their
clients.
- REALTORS®
are paid when a transaction successfully completes meaning that commissions and
fees are not normally paid by the client unless a transaction successfully
completes.
- REALTORS®
have access to and use the Multiple Listing Service® and MLS.ca listing
services - the most successful real estate listing website in Canada.
- MLS®
and MLS.ca® give REALTORS® access to the largest buyer pool in Canada,
resulting in sellers benefiting from the widest possible exposure of their
properties to the market.
- The
Multiple Listing Service® is the most complete database of property listings
and transactions available in Canada.
MLS® helps sellers and buyers establish the market value of a property,
eliminating guesswork which results in easier, quicker and more satisfactory
negotiations. Only REALTORS® have access to MLS®.
- REALTORS®
are trained marketing professionals - they know how to price and market
properties so that they sell for the most money possible in the shortest time
possible.
- REALTORS®
are trained negotiators. Sellers and buyers do not generally negotiate for a living.
This places them at a disadvantage because they can become emotionally involved
when they deal directly with an unrepresented buyer or seller.
- REALTORS®
are thoroughly familiar with representing buyers and sellers in real estate
transactions and understand the pitfalls of the process. Sellers and buyers "doing
it themselves" can make mistakes, the result of which can far outweigh any perceived
or real financial advantages to be gained in saving a commission or fee.
- Unrepresented
buyers and sellers using FSBO organizations expect to save REALTORS®' fees.
However, since both buyers and sellers want to save the same commission or fee
their negotiations begin at a disadvantage. Their negotiations are further
hampered because they do not have an independent party like a REALTOR® to help
them negotiate the best possible deal.
- REALTOR® involvement can protect consumers against the risk of a potential loss due to misadventure, fraudulent dealings or criminals who case homes during showings. REALTORS® provide ‘on hand' professional advice, are adept at advising clients how to avoid any financially damaging situations and give consumers peace