The costs associated with selling a home

Deciding to sell your home is a big decision, so it's always good to remind yourself of what that decision entails, including the associated costs you might incur. Many real estate industry groups have resources available to the public on the home-selling process, such as the Real Estate Council of Alberta's Home Seller's Guide. However, most resources don't specify selling costs, in part because they can vary greatly depending on the individual property and circumstances of the sale. To provide a frame of reference, here is a summary of costs associated with selling a typical $500,000 home in Calgary:

New mobile-friendly Home Buyer's Guide helps educate and protect Alberta consumers

A new resource from the Real Estate Council of Alberta provides a step-by-step guide to anyone thinking of buying a home in Alberta.

The Home Buyer's Guide, located online at www.homebuyersguidealberta.ca, gives Albertans a perspective unique to the province. Featuring a wealth of information and advice, it provides helpful tips on everything from determining if you can afford to buy, to finding a real estate professional, to what to expect on possession day.

RECA recognized for education, communication

The Real Estate Council of Alberta (RECA) was recently recognized for its educational and communications efforts with two awards from the Association of Real Estate License Law Officials (ARELLO).

RECA, a non-government agency responsible for governing the industry under Alberta's Real Estate Act, won an education award for its pre-licensing education course, the Practice of Rural Real Estate, and a communications award for the 2016 edition of the Advertising Guidelines.

The awards were presented at ARELLO's annual conference in late September in Vancouver.

Buyers, sellers encouraged to do their research before picking a real estate professional

Purchasing a home will be one of the biggest financial decisions most of us will ever make in our lifetimes. Getting it right can mean the difference between moving into your dream home and living in a house of horrors.

Whether a first-time buyer/seller or not, the first step is to find the right real estate professional or service to help you on your journey to homeownership, said CREB® president Cliff Stevenson. A good place to start is through referral.

"If there was an analysis done on the largest referral source, it's probably from people you know and come across. It's word-of-mouth referral," said Stevenson, adding online searches are also important tools for buyers and sellers when looking for a real estate professional or service. "But they're looking for some type of social proof and social validation out there as well."

If you have ever sold a house in Alberta you have signed an agreement with a REALTOR® explaining what your working relationship will be. If you have bought a home in Alberta you may have been asked to sign a similar document.

"Effective July 1, 2014, Real Estate Council of Alberta (RECA) will require industry members who establish a client relationship when trading in residential real estate, property management or when dealing in mortgages to enter into a written service agreement with that client" says Natalie Scollard, communications coordinator with RECA.