REALTORS® are governed by the legal concept of “Agency“. A REALTOR® is legally obligated to look after the best interests of the person he or she is working for. The REALTOR® must be loyal to that person. A real estate company may be your REALTOR® - if you have clearly established an Agency relationship with that REALTOR®. But often, you may assume such an obligation exists when it does not. REALTORS® believe it is important that the people they work with understand when an Agency relationship exists and when it does not - and understand what it means.
There’s been a lot of talk about real estate in the news in recent months. We’ve heard about declining housing starts, falling existing home sales, double-digit price depreciation, subprime fallout and foreclosures – in the United States. Fortunately, we live in Canada. And Canadian real estate markets are far-better positioned than their American counterparts for a good number of reasons.
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