A buyer’s associate's primary allegiance is to the buyer. In Alberta, a buyer agency relationship arises automatically without a written agreement establishing the relationship.īuyer’s Associate -(also known as “Buyer’s Broker” or “Purchaser’s Associate”) - A person or firm representing the buyer. In parts of Canada, brokers are referred to as Associates or Agents.īuyer Brokerage Agreement - A written agreement between the buyer and the buyer's associate, outlining the agency relationship between the two parties and the manner in which the buyer's associate will be compensated. Real estate brokers may form companies or offices which appoint sales representatives to provide services to the seller or buyer, or they may provide the same services themselves. Attached goods belong to the buyer and are also known as fixtures.īroker - A person licensed by the provincial or territorial government to trade in real estate. Alberta Real Estate Association - An association of real estate industry members who belong to real estate boards in Alberta.Īppraisal - An estimate of a property’s value performed by a professional Appraiser.Īsking or List Price - The price placed on the property for sale by the seller.Īssessed Value - The value of a property, set and used by each municipality for the purposes of calculating property tax.Īssociate/Agent - A real estate professional registered in Alberta to facilitate the sale, lease or exchange of a property.Īttached Goods - An item which is attached to real property so as to form, in law, part of the land.
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