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Licenced REALTORS® in Brampton Working Ethically in Best Interest of Buyers and Sellers

 

Buying a Home in Brampton

Buying a home is one of the most important purchases a person can make in their lifetime. Typically, homeowners will only make this financial investment three times in their lifetime; first time owners typically purchase in their late twenties. Young couples or professionals will upsize their living space as their family or career grows. In turn, typically homeowners downsize as they move into their later years when their children move on to live on their own and the "empty nest” syndrome takes effect or retirement approaches. A local real estate brokerage, like JN Asensio, can help guide you on each of these journeys.

 

Brampton is a great community just outside of Toronto and many buyers are flocking there. Property values have also increased over the years, making it a great market for sellers. It has tremendous economic growth and is within commuting distance to the downtown Toronto core. Whether buying or selling, licenced REALTORS®in Brampton are great partners to help meet your needs. Firms such as JN Asensio have only licenced agents and brokers who follow the specific guidelines associated with the designation. It can be confusing trying to determine who is the best person in the real estate industry to represent your interests and finances. Licenced agents are educated and trained by completing courses required to enter the field.

 

Three Titles with Distinction

There are three common titles that have different distinctions; real estate agent, REALTOR®and broker.

  • A real estate agent is an entry position if you will. They are licenced to sell real estate and have completed courses to enter the field. They also have to participate in mandatory continuing education to maintain their designation as a real estate agent. Agents are not authorized to work on their own; they must work for a licenced broker. They are not permitted to own or run their own office. A Brampton licenced agent must work within a set of standards that emphasize ethical behaviour. This code is known as the Real Estate and Business Brokers Act (2002) and be registered with the Real Estate Council of Ontario (RECO).
  • A REALTOR®is like a real estate agent, but is a member of the Canadian Real Estate Association (CREA). They are bound by a specific code of ethics that all REALTORS®study and is strictly governed. These codes are based on moral integrity and are in place to serve the clients’ best interests. Key items include preventingREALTORS® from acquiring interest in a property without disclosing they are a REALTOR®. The code also prevents REALTORS®from hiding any fees or charges from the clients; everything must be disclosed up front.
  • Lastly, a brokerhas completed further training and undergone specific training in a more detailed manner. A real estate broker has a greater knowledge of real estate law and has the ability to run their own brokerage. They would have a team of REALTORS®and/or real estate agents working under them. Not all brokers own their own brokerages, but they have the ability to do so.

It is possible to have a real estate agent designated as a REALTOR®, and a broker as a REALTOR®. However, a real estate agent cannot be a broker.

 

Bound by a Code of Ethics

Licenced REALTORS®in Brampton are a buyer or seller’s best ally when tackling the market. This ethical code binds them to work in your best interest and not in their own. If you feel your licenced REALTOR®is not working to these standards, talk to the principle broker of the firm and voice your concerns. Furthermore, you can follow up with the CREA or the RECO if you feel your concerns are going unheard.

 

With organizations like JN Asensio, customer service is paramount and these guidelines are more like lifelines. These are the type of brokerages you should research before deciding on which suits your needs better; agent, REALTOR®or broker.