The Agent’ Roles

First, a few definition...

The difference between a real estate broker and agent has to do with the limits of each one’s responsibilities.

A real estate broker can employ or authorize an agent or other broker to act on his or her behalf. An agent, on the other hand, may only act on behalf of a broker. The law assigns all responsibility to a broker for the professional actions of an agent or other broker acting on the original broker’s behalf. In addition to the basic education required of a real estate agent, brokers require special training and a minimum of three years of experience.

The primary role of real estate brokers and agents is to accompany, support and represent clients through the process of buying or selling a property.

To carry out this general mandate, brokers and agents:

  • Describe the steps involved in a sale or acquisition and specify the practical, technical and legal aspects.
  • Present the required documents and contracts and explain their content and purpose in detail.
  • Inform their clients as to the expenses involved in putting a property on the market, working to sell or buy it and the transaction.
  • Help clients establish a purchase or sale price, based on their knowledge of the property and comparable prices in the neighbourhood.
  • Present sale or purchase opportunities that correspond to their clients’ needs and wishes.
  • Negotiate to obtain the best possible price.
  • Participate in preparing acts of sale.

The Agent's Obligations

Brokers and agents are not responsible for the results of a transaction but rather the means of arriving at a transaction. Their obligation is to do the best they can to help achieve the desired results.

Brokers and agents must:

  • Have a diploma from a recognized institution.
  • Sign a brokerage contract before taking any action to buy or sell (property registration) a property.
  • Remain informed of new trends and practices in the real estate market. The Chambre immobilière de l’Estrie offers continuing education sessions and meetings.
  • Always act in complete honesty in dealings with their clients, clients’ representatives, buyers and sellers, by not holding back essential information.