Working with Buyers & Sellers
Table of Contents
Getting Started: Compliance and Client Engagement
Before you begin working with any client, regulatory compliance is critical. Under BCFSA requirements, two forms must be presented at the outset:
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Disclosure of Representation in Trading Services (DORTS)
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Privacy Notice and Consent (PNC)
By doing so, you create clarity about your professional role, agency and establish transparency around data use. Provide these forms before you discuss confidential information such as price, finances, or bargaining position.
Note: These forms are not required if you’re only discussing publicly available listing information—such as square footage, asking price, or lot size—without any personal details.
Working with Buyers
1. Consultation and Search
The buyer process begins with an in-depth consultation. This meeting establishes expectations, clarifies financing readiness, defines wants versus needs, and identifies timelines and motivation. A strong consultation reduces uncertainty and creates a clear framework for decision-making.
Once criteria are defined, a customized MLS® search is created. Buyers receive listings through an automated system and can explore options through a client portal. During this stage, proactive communication is essential. Regular check-ins help maintain momentum and ensure alignment as new properties come to market.
2. Showings and Evaluation
Property showings are carefully organized and booked through the Board’s showing system. Prior to viewing homes, it is important to review relevant documents, confirm property details, and identify potential deal breakers such as strata restrictions or zoning concerns.
During showings, the goal is not to “sell” the home, but to guide evaluation. Buyers often need support interpreting price, condition, and market context. After each showing, feedback and discussion help narrow options and determine next steps.
3. Writing and Negotiating the Offer
When a buyer is ready to proceed, the offer stage requires precision. Key elements include:
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Price and supporting market data
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Deposit amount
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Subject conditions and timelines
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Inclusions and exclusions
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Completion and possession dates
Clear communication around risk, especially regarding conditions or unconditional offers, is critical. The goal is to protect the buyer while presenting a competitive and well-structured offer.
4. Subject Removal and Deposit
If the offer is conditional, strict attention must be paid to deadlines. Inspections, financing approval, and document review must be completed within the contractual time frame. Once the buyer is satisfied, formal subject removal documents are delivered.
The deposit then becomes payable according to the contract. Managing this timeline carefully ensures the transaction remains secure and legally binding.
5. Completion and Possession
As the transaction approaches closing, key dates must be understood and respected:
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Completion Date: Legal transfer of ownership
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Adjustment Date: Allocation of prepaid expenses
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Possession Date: Buyer receives keys
Coordinating with lawyers, confirming documentation, and arranging key exchange ensures a smooth transition from accepted offer to ownership.
Working with Sellers
1. Pre-Listing and Preparation
The seller process typically begins with a pre-listing conversation to gather property details, understand motivation, and set expectations. Preparation for the listing appointment includes researching comparable sales, developing a pricing strategy, and assembling a professional marketing package.
During the listing appointment, the property is reviewed, pricing is discussed, and a listing agreement is signed. Required documentation is collected and uploaded promptly to the brokerage system.
2. Preparing the Home for Market
Before going live, the property should be positioned strategically. This may include:
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Pre-inspections or system inspections
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Addressing maintenance items
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Staging
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Professional photography and floor plans
Thoughtful preparation reduces surprises during negotiations and strengthens buyer confidence.
3. Marketing and Showings
Once listed on the MLS®, the property is syndicated across digital platforms. Accurate data entry, professional visuals, and a compelling description are foundational to effective marketing.
Additional exposure may include open houses, signage (where permitted), and neighbourhood outreach. Showings are coordinated through the Board’s scheduling system, with sellers kept informed of requests and feedback.
4. Offer Presentation and Negotiation
When offers are received, each must be presented promptly and objectively. Sellers are guided through:
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Price and deposit comparisons
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Subject clauses and deadlines
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Completion and possession dates
In multiple-offer situations, strict adherence to Board and regulatory requirements is essential. Sellers may accept, counter, or allow offers to expire, depending on their strategy and goals.
5. Conditions, Obligations, and Closing
If an offer includes subjects, the seller must wait for the buyer to complete due diligence. Deadlines are tracked carefully, and any contract changes must be documented properly.
Once subjects are removed, the transaction moves toward closing. The sale is reported, required documents are submitted to conveyancing, and lawyers coordinate final transfer of funds and registration.
As closing approaches, sellers must meet all contractual obligations, including agreed repairs and delivering the property as promised. Key dates—completion, adjustment, and possession—must be managed carefully to avoid disputes.