So the Calgary Real Estate Board has changed the rules. Article 19 is out and agents are going to have to be more careful than ever who they give their time to.
Now it does not matter how many time an agent shows a buyer a home. If the buyer decides to write with someone else the agent that writes the offer will get all of the commission. Before the agent that introduced the home was entitled to some commission, if they had not abandoned the client. I can understand that the old way caused problems in that it was hard to prove, and there were always disputes. It did make our profession look bad always squabbling about commission.
Will this force us all to have Buyers Agency Contracts signed? They tried that before, and they could not get the Realtors behind it. Perhaps this rule will change that.
A Buyer's Agency contract is in everyone's best interest. It spells out the responsibilities and rights of both the agent and the buyer, just like the listing contract does.
What will happen when buyer's want the listing agent to drop everything and show them their listing? How will they take it when they are told that if they want to view properties they will have to hire their own agent?
It works in other locations, I am sure it will work here. We will just have to get used to not giving away our time. Buyers will have to take the time to choose an agent, get qualified, determine their needs and then start looking at property with their own agent. Truly a much more professional approach.
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