Now that I’ve Chosen My REALTOR®, What Documents do I Need?

Step Two

Working With a REALTOR®– One of the first documents (if not the very first) a REALTOR® should explain to his or her client is the “Working With a REALTOR® Brochure. Issued by the British Columbia Real Estate Association, this brochure outlines the various types of agency and the meaning of agency, the Privacy Act and how it affects a person buying or selling real estate and it also provides various real estate definitions that should be known to a buyer or seller. This document must be signed by both the Agent and the Buyer or Seller of real estate and, although it is not an agreement that binds a client to his agent, it is a required form. This is document that generally signifies the beginning of an agency relationship.

The Multiple Listing Agreement –The Multiple Listing Contract is the agreement signed between the seller of real estate and the real estate agent who will list the property on the real estate market (the “Listing Agent”). This document contains a number of clauses outlining such things as the property to be sold, how the property will be sold, how much the property will be sold for, the commission the seller will pay the Listing Agent (if the agent meets the requirements outlined in the agreement) and much more. This document is submitted to the Real Estate Board when the property is listed for sale.

Cancellation Guarantee – When a Seller of real estate writes an agreement with a real estate agent, he or she commits themselves to a certain period of time within which the agent has to sell the property. What happen if the agent if the agent does not live up to his or her promises? What if you find that you just don’t work well the agent’s personality? What if the agent is not working in your best interests? Under the standard terms of a listing agreement, it is not so easy to be completely released from the agreement. Although a seller of real estate may successfully cancel their listing agreement, they might still have to wait until the expiration of the term they initially signed before able to move forward in selling their property.

Barry Pockay provides ALL of his clients with a cancellation guarantee, signed up front. This guarantee allows any of his clients to cancel their agreement and move forward in the pursuit of achieving their real estate goals. If there is one thing, Barry Pockay does not want to get in the way of his client’s best interests. It takes a dedicated REALTOR® who believes in his work enough to provide such a solid guarantee – Barry is totally confident in his work and results and he is happy to provide such a guarantee.

Property Disclosure Statement – The Property Condition Disclosure Statement or “PCDS” is a written record of representations made, and not made, by the sellers about their property. The PCDS is normally completed and signed by the sellers at the time the listing is taken. More often than not, the PCDS is incorporated into an agreement for the purchase and sale of a property. This is important in that any disclosures made by the Seller, or facts that the Seller knew or should have known but were withheld, can be used for recourse by the Buyer even after the sale of property has completed.

Strata Documents – Strata Documents include such things as Minutes of the Strata Council, Annual General Meetings of the Strata Corporation, Strata Bylaws and Rules and the Strata Plan. A Seller should have these documents in their records from the time they purchased their home or investment or by collecting them during the period of their occupancy or ownership of the subject property. Providing these documents to your REALTOR® and reading those over yourself will benefit you in the sale of your property.



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Selling Real Estate