By Ellen Baragon, Guest Contributor
As REALTORS® work in their clients’ best interests, being well versed in all aspects of listing and buyer agency contracts can help you better support and empower your clients during a real estate transaction, as well as help you meet your regulatory requirements.
To help Realtors learn more about how these two types of forms help them to achieve these important outcomes, BCREA has created two new tutorial video series exploring the different listing contracts and the Buyer’s Agency Exclusive Contract, both of which are available online now.
In the Listing Contracts series, we go over the two types of listing contracts in BC: the Multiple Listing Contract and the Exclusive Listing Contract. We explore what ways they are similar and how they may differ. We also look at how to explain each of these types of contracts to a client as well as some of the standard contract terms.
The Listing Contracts series, which can also be accessed at bcrea.bc.ca/listingcontracts, includes the following videos:
- Different Types of Listing Contracts
- Negotiating Terms
- Termination of a Listing Contract
- Commencement, Expiry, and Signed, Sealed and Delivered Dates
- Remuneration the Holdover Clause
- Schedule “A”
You can also help your clients better understand the Multiple Listing Contract by sharing this video made specifically for consumers.
Buyer’s Agency Exclusive Contract
The Buyer’s Agency Exclusive Contract series was designed to help Realtors better support buyers, meet regulatory requirements and reduce risk. The video explores all aspects of the Buyer’s Agency Exclusive Contract including the Buyer Agency Acknowledgement form, which are essential to obtaining permission from clients before forming agency relationships with multiple buyers and sellers.
The Buyer’s Agency Exclusive Contract series, which can also be accessed at bcrea.bc.ca/buyersagency, includes the following videos:
- Exploring the Buyer’s Agency Exclusive Contract
- Appointment of a Designated Agent
- Responsibilities and Obligations of the Parties
- Collection, Use and Disclosure of Personal Information;
- Conflicts of Interest
BCREA has also created a video for consumer explaining the Buyer’s Agency Exclusive Contract, click here to watch and share with your clients.
For more Standard Forms resources, including training toolkits that offer a comprehensive look into a variety of common standard forms, visit BCREA’s Standard Forms Resource Centre.
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