The BRA – Don’t Start Your Home Search Without It!

The Real Estate Council of Ontario (RECO), a public agency formed to protect consumers and regulate the industry, introduced guiding principles mandating that REALTORS® ask their clients to sign a Buyer Representation Agreement at the earliest possible time.

The Buyer Representation Agreement (BRA) is a contract your REALTOR® should ask you to sign before s/he starts working for you. It signifies that, for a designated period of time, you have engaged a specific real estate brokerage to work exclusively on your behalf to find a property.

This agreement helps to ensure that YOUR best interests are protected throughout your home buying experience.

Benefits include, but are not limited to:

• Reassurance of the duties the real estate brokerage owes to you as a buyer
• Full disclosure of all property information known to the brokerage about a particular property
• Your criteria can be added to the ‘Buyer Registry Service’ and be alerted to new listings ahead of the usual MLS release.

You may also use the BRA as an opportunity to see if your REALTOR® is right for you by specifying the length of the contract with the brokerage.

If you have any questions about the Buyer Representation Agreement or would like to set up a free, no-obligation consultation, contact me today!

To begin your home buying experience, click here