If you’re buying or selling a home, you might choose to work with a licensed real estate agent. Agents—and the salespeople who represent them—are trained professionals who can guide you through the process, help you avoid common pitfalls, and make sure everything runs smoothly.
In New Brunswick, all real estate agents and salespeople must be licensed by the Financial and Consumer Services Commission and be members of the New Brunswick Real Estate Association (NBREA). They also follow a national code of ethics set by the Canadian Real Estate Association (CREA).
Not all agents work the same way. If you decide to work with a real estate agent, take the time to choose the right agent for you and make sure to contact the Commission to check that both the agent and salesperson are licensed. Meet with the agent or salesperson and ask questions like:
How long have you been in the industry?
What’s your commission fee? Is it a flat rate or a percentage?
What services do you offer?
How will you market my home?
Will my property be listed on MLS® Systems?
Do you have a website?
How will you help me find the right home?
Do you already have buyers or sellers in mind?
Can you share references?
You should feel confident that your agent has the proper experience, understands your goals and will work in your best interest.
When you sign an agreement with an agent, you’re entering into what’s called an agency relationship. This means the agent and their salespeople are legally allowed to act on your behalf -- and they’re expected to do so in your best interest.
If both the buyer and seller are represented by the same agent or by salespeople from the same agency, it’s called dual agency. In these cases, it may not be able to act in both side’s best interest, especially when negotiating price.
If you’re buying a home, you may be asked to sign a Buyer Agency Agreement. This outlines how long the real estate agent and salesperson will represent you, what services they’ll provide, and how they’ll be compensated. Before signing, read the agreement carefully and ask questions about anything that’s unclear. You should understand your rights, responsibilities, and obligations.
If you’re selling your home, you’ll sign a Listing Agreement with your agent. This gives the agent and salesperson permission to list your property and explains your role as the seller, the agent and salesperson’s duties, commission fees, and the timeline for selling. You’ll also find out whether your listing will be:
A Multiple Listing, which means your home is posted on MLS® Systems and visible to other REALTORS® and their clients.
An Exclusive Listing, which means your home is marketed privately through your agent and not posted on MLS®. This can offer more privacy but may limit your exposure to potential buyers.
Your agent is required to provide you with a copy of this Listing Agreement. Always keep a copy of your listing agreement in case you need to refer to it later.
To confirm that an agent or salesperson is licensed in New Brunswick, or to report concerns, you can contact the Commission. They can also help direct you to the right place if you’re unsure who to speak to.