Working with a Realtor The Agency Relationship in British Columbia by Mike Stewart Vancouver Realtor from Mike Stewart on Vimeo.

Hi All,

The “Working with a Realtor” brochure is one of the most misunderstood documents I work with.

Some people think that by signing this document they are committing to work FOREVER with the Realtor who got them to sign it. THIS IS NOT THE CASE!

The “Working with a Realtor” brochure is simply a signed confirmation the Realtor has explained the Agency Relationship to the client.

By signing this brochure, the client is NOT BOUND TO THE REALTOR. It is simply a signed disclosure that the client has had their rights in the Agency Relationship explained as well as the Realtors obligations and responsibilities to the client in this relationship. Nothing more.

The Agency Relationship is as follows:

1) Undivided loyalty. The Brokerage must protect the principal’s
negotiating position at all times, and disclose all known facts
which may affect or influence the principal’s decision.
2) To obey all lawful instructions of the principal.
3) An obligation to keep the confidences of the principal.
4) To exercise reasonable care and skill in performing all assigned
duties.
5) To account for all money and property placed in an Brokerage’s
hands while acting for the principal.

If you feel your Realtor is not following these rules bring it to their attention. If this doesn’t work, speak to their manager.

Here’s a copy of the Working With a Realtor Brochure:
Working With a Realtor by Mike Stewart Vancouver Real Estate Agent

Please leave a comment, I’d love to hear your thoughts and questions!

When will Vancouver Real Estate hit bottom?

That is a question I get asked all the time. Like I have said in comments my post on Why Vancouver Real Estate Prices Go Up and Down, if I knew when the Vancouver Real Estate Market was going to bottom, I would no longer be working…

What we can say for sure is where the market is going over the next little while and this is based on the consensus of expectation.

There is a general consensus in Vancouver among buyers and sellers of real estate that prices will continue to fall and buyers and sellers are acting accordingly.

We will see the bottom of the Vancouver Real Estate market when buyer and seller expectations diverge and the consensus is broken.  Buyers will still be thinking prices are coming down and sellers will have some good news to give them hope that if they hold there will be hope going forward of hight future prices. Price will start to rise and a new consensus will form based on rising prices.

I can’t wait!

I’d love to hear your thoughts LEAVE A COMMENT!!

What is an Expired Listing?

This is when a Listing Contract on a property has come to the end of its life. The Realtor who has the listing contract has failed to bring the Seller an acceptable offer that the Buyers removed subjects on.

I have been very successful in selling listings that have expired with other Realtors.

Check out my results at 3005 – 111 West Georgia Street and 1005-688 Abbott Street.

How Mike Stewart Gets Expired Listings Sold:

1.    Professional Marketing. Every listing I take gets full professional photography and videography as well a candid video I shoot myself. All my listings get posted on Craigslist every weekday. The list goes on. See above for my results

2.    Downtown Vancouver Focus. I do 85% of my business in Downtown Vancouver. I know the buildings, I know the floor plans, I know Downtown Vancouver Real Estate. If I get a client who wants to buy or sell out of my area of speciality , I refer it to an area expert.

3.    Results – I am in the top 10% of Realtors in Greater Vancouver, a member of the Real Estate Boards Medallion Cub.

4.    Exposure. We have open houses every weekend until the property sells. Open Houses sell listings!

Why do Listings Expire?

Listings expire for a number of reasons:

1.    Hiring the wrong Realtor. It’s VERY important to use an area specialist. Hire a Realtor who knows the building and the neighbourhood. For Downtown Vancouver use a Downtown Vancouver Real Estate Specialist (Like me!) If you know more about your property than your Realtor, think twice!

2.    Bad marketing. Did the Realtor you hired get a professional photographer and shoot video for your property? Did they post 10 pictures on the MLS? Did they have more on their site? Does your Realtor actively market in the area where your property is located? Did your Realtor post your listing on Craigslist regularly. Did they do regular Open Houses?

3.    Bad tenants/lack of access. Do you have a tenant who won’t let you or your Realtor see the property? If you guys can’t see it how can a potential buyer see it? Buyers very rarely buy something they can’t see

4.    Property is not Market Ready. In this market your property needs to be looking its best to get an offer. If you suite is dirty, cluttered, messy, or empty, most buyers (they can be finicky in this market!) will pass your suite by.

5.    Low Commission. Realtors are motivated by financial incentives. If you are not offering a sufficient commission to buyers agents they will not prioritise your listing.

Feel free to EMAIL or call me at 604-763-3136 anytime if you have a question on Expired Listings or any other Vancouver Real Estate topic.

Want to Sell YOUR Condo in Vancouver? Questions? Check out out these great Videos How to Sell a Vancouver Condo!