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When a real estate brokerage represents a seller, it must do what is best for the seller of the property. The same goes when the real estate brokerage represents a buyer – it must do what is best for the buyer. Occasionally a real estate brokerage will represent both, the buyer and the seller. The buyer and the seller must consent to this arrangement in writing. Under this multiple representation arrangement, the brokerage must do what is best for both the buyer and the seller.
Confidentiality is certainly one of the big issues in the sale or purchase of a business. As a seller you don’t want to make your financial statements or other important documents public for everyone to see but as purchaser you need to have a close look at these documents to be able to make a informed decision. That’s one of the issues that can be taken care of by a real estate professional. Screening the customer/client and using confidentiality agreement are two ways to make sure that everything goes well.
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Real estate professionals in Ontario have to go through a multilevel education of the profession and have to follow the rules and regulations of the Real Estate Business and Brokers Act (REBBA) including a Code of Ethics. A system of local, provincial and federal boards and associations are in place to enforce the rules and regulations.
By working with a Realtor you know that you have a professional on your side, something you will be missing during a “For Sale by owner” transaction. Specially for the sale or acquisition of a business you want to protect your interest during the transaction and that is where a qualified Realtor will help.
The start of a great relationship is by understanding the rules and limitations every party involved has to work with.
Seller or Buyer please feel free to contact me either by phone or email
P: 705.752.3067
C: 705.471.7464
E: info@nearnorthrealestate.com
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