BC is the BEST place in North America to BUY Real Estate | Hint: it's not why you think!

So you've decided to move to Surrey and surrounding areas, or generally anywhere in British Columbia from other areas of either North America or Canada. This video today is a celebration to let you know why you should feel feel so much better about buying a home in British Columbia than you do anywhere else. Real estate sometimes can feel like the wild, wild west. And I'm going to let you know all the reasons why buying a home in British Columbia is so much better than anywhere else in the world. If you're ready to come down this rabbit hole with me, let's go. It's Darin Germyn here from the Germyn Group, where we know you've only got one chance to either buy or sell your next home. So we're here to help you get it right.

So what do I mean about why BC is the best place to buy a home? And forget about that we're in Vancouver, in the lower mainland, and it's really pretty and everyone loves living here. Everyone's in great shape for the most part, takes very good care of themselves and eats awesome food. That is not the reason why I think it's one of the best places to buy a home, even though, as you can imagine, those are all really good reasons. But one of the reasons why it's one of the best places to buy a home, especially as a consumer, is because of some of the protection you get as a consumer in British Columbia. To unpack that a little bit, we have an oversight body in B.C called the British Columbia Financial Services Authority (BCFSA). They recently just took over from some other levels of real estate regulators. But that's not important. What is important is what the obligations of a real estate professional is to you as a consumer in British Columbia.

You see, all over North America, Realtors can do something called "Double-end" on properties. And what's Double-Ending? It's where the same realtor represents both the buyer and the seller in a transaction and owes them both agency duties. That is such a bad idea for so many reasons. And to put it in a little bit of perspective, that's almost like getting sued by somebody and you want to try and save a little bit of money. So you call them and ask them if it would be okay if you share the lawyer that they're using in court because now they're already going to be there in the first place anyway. This double ending can work in some circumstances, but generally when it comes to public protection, it's best to have your own representation, regardless of what side of the transaction you're on, whether it is a buyer or a seller. Now, not only was that outlawed or banned back in 2018 in British Columbia, there was another document that came to light and something that I think makes it so great for a consumer because they know exactly what they're walking into. The best part about this document, though, is we are required to provide it to anybody that we intend to provide services to prior to engaging in those services.

And so what kind of services do we mean? This could include things like helping you price a property, giving you an opinion on whether it's a good time to buy, sell, or the market value of your home, showing you properties, and almost any other thing that again, requires a real estate license or provide services that is outside of factual information. Prior to giving you any of these services, this realtor is required to provide you with a document aptly titled "Your Relationship with a Real Estate Professional." Not only that, this document goes further and discusses what the responsibilities are of that real estate licensee and how they are supposed to treat you as a consumer. Whether you are what is considered a non client or a client, a client gets to enjoy special privileges that a non-client would not.

Things like full loyalty and full disclosure on anything that might be important to you as a consumer, they also have the duty to avoid conflicts of interest, meaning if they have some sort of personal stake involved outside of just the general purchase or the general sale of the home that you're working with, they have to let you know. And in many times excuse themselves. And actually not just limited to that either. It's confidentiality completely. So naturally, a non client, this isn't good news. If you're working with a real estate professional and you don't know what side they are working on, they're either working for you or against you.

And as a consumer, that's really important to know before you start going and visiting open houses and telling people all about your situation, your finances, your life, Realtors in British Columbia have a duty to slow you down, to stop you and make sure that you understand who they represent in this transaction. So if you come into my open house and you start telling me all the things that are important to my seller to know, like why you want to buy, how much you can afford, what you might put down as an offer maximum on this particular property, I have to stop you. I have to make sure you are aware that I represent the seller in this particular transaction and anything that you tell me, it's my duty to pass on to them. Realtors in British Columbia are very clear on who their clients are. And as a consumer, if the realtor that you are working with hasn't presented you with this document.

They don't necessarily owe you a duty of loyalty and as a consumer, it's important that you know who and how you are being represented when you're sharing information with the real estate professional, making it the number one reason why it's such a great place to buy real estate in British Columbia. Now, these documents came out a few years ago and they're probably not as widely used or as appropriately used as they once were, but generally Realtors all across this province are still doing an incredible job making sure consumers like you know exactly what they're getting involved with before they go a little further than they need to.

Many consumers are so used to the old way of doing real estate, they just blah information on people and Realtors in this province have to slow you down and make sure you understand exactly who they represent and why. So there you have it. This is why it is one of the greatest places in the world to be either a buyer or a seller of real estate. I truly believe that. I want you to take advantage of the comments section below. Let us know what you think and what you might be interested in and further videos. I'm Darin Germyn from the Germyn Group where we know you only got one chance to either buy or sell your next home. So we're here to help you get it right. Thanks for watching.

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Darin Germyn PREC* & Adam Howsam
Macdonald Realty LTD | 604-542-2444 |
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