R.E.S.A. - The Real Estate Services Act
The new year brings with it a new provincial law that governs professional real estate that replaces our old Brokers act. It’s called the Real Estate Services Act, and it requires the brokers/agents to have clients sign a service agreement that spells out what we agree to do for our clients prior to providing any real estate service. This is required for us to comply with this new law. For our sellers, it means that we need each one to sign the agreement to allow us to continue to send listing information via Matrix. We can easily send you a service agreement for you to sign and return. Please click here to view the forms. If you have any questions, concerns please feel free to contact us.
Manitoba REALTORS® deliver on their promises. And now, we’re putting those promises on paper. The new service agreement is your assurance that your REALTOR® is on the job for you, on your terms. Your signature acts as proof that you understand the purpose of the agreement: that it’s your REALTOR®’s pledge to deliver on their promise of professionalism, at every step of the home buying or selling process.
What is a service agreement?
A service agreement details how your REALTOR® will work with and for you, based on the terms you set out together in the document. The completed document will include a list of the services you can expect, the timeframe of the agreement, and more.
Why has the service agreement been introduced?
Recent changes to The Real Estate Services Act (RESA) require that everyone sign a service agreement with a REALTOR® up front, before any services are rendered. If you're buying, selling or renting a commercial or residential property in Manitoba, you’ll need to sign a service agreement starting in 2022. Read the bill here.
What do I need to know about signing a service agreement?
Here are three things to keep in mind before you sign:
- Review the service agreement thoroughly and don’t be afraid to ask questions.
- Speak to your REALTOR® if you want to negotiate or change the terms of your service agreement.
- Ask your REALTOR® if your service agreement is exclusive. An agreement doesn’t need to be exclusive, but it can