June 2014

Press Release: Written Service Contracts Become Mandatory for Buyers in Alberta Effective July 1, 2014

Posted on Jun 16, 2014 in Press Releases


On July 1, 2014, the Real Estate Council of Alberta (RECA) will require industry members who establish a client relationship with a buyer who is trading in residential real estate to enter into a written service agreement with that buyer.


RED DEER, AB – Alberta is following in the foot steps of Ontario with changes to section 43 of the Real Estate A...

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* Compared to a typical rate of 6% on the first $100,000 and 3% on the balance of the sale price, not applicable for agent or relocation referrals.

* * $1,500 cash-back on a property that sells over $300,000, and $1,000 for a property that sells between $200,000 and $299,999. Cash-back is not offered on properties under $200,000. Commission paid by seller must be 3% on the first $100,000 and 1.5% on the balance of the sale price. Not applicable for agent or relocation referrals. May be reduced or not applicable on for-sale-by-owner properties. ***$4,000 flat fee commission only applicable on properties listed up to $600,000. 1% listing commission applicable on properties over $600,000.