Real Estate Agent

Explore the role of a real estate agent in Canada, what services they provide, and how they help buyers and sellers succeed in the housing market.

Real Estate Agent

May 22, 2025


What is a Real Estate Agent?

A real estate agent is a licensed professional who assists clients in buying, selling, or renting properties and represents their interests during real estate transactions.

Why Real Estate Agents Matter in Real Estate

In Canada, real estate agents provide essential services in one of the most significant financial transactions of a person’s life. Agents are regulated provincially and must be licensed by bodies such as RECO (Ontario), CREA (nationally), or other regional boards.

Agents help with:
  • Pricing strategy and market analysis
  • Property showings and staging
  • Offer negotiations and legal documentation
  • Coordination of home inspections and closings

They typically work under a brokerage and may represent buyers, sellers, or both (in dual agency, where permitted). Agents owe fiduciary duties to their clients, including loyalty, disclosure, and confidentiality.

Compensation is usually commission-based, paid as a percentage of the property’s sale price (commonly 4%–5%, split between buyer and seller agents). While optional, working with a qualified agent gives clients access to MLS listings, professional networks, and negotiation expertise.

Understanding the role and obligations of a real estate agent helps clients choose the right professional and navigate the market with greater confidence and efficiency.

Example of a Real Estate Agent

A first-time buyer hires a real estate agent in Vancouver to help find a condo. The agent negotiates a price reduction and walks them through each step of the closing process.

Key Takeaways

  • Licensed professional who facilitates real estate transactions.
  • Regulated at the provincial and national level.
  • Offers market expertise, negotiation, and legal support.
  • Usually paid via commission on property sale.
  • Crucial for navigating complex property deals.

Related Terms

  • REALTOR®
  • Buyer’s Agent
  • Listing Agent
  • Dual Agency
  • Commission

Additional Terms

Rent Control

Rent control refers to government regulations that limit how much landlords can increase rent for residential tenants each year.. more

Receivership

Receivership is a legal process where a court or secured creditor appoints a receiver to take control of a borrower’s assets, such as property or. more

REALTOR

A REALTOR is a licensed real estate professional who is a member of the Canadian Real Estate Association (CREA) and adheres to its Code of Ethics and. more

Property Use History

Property use history refers to the documented past uses, functions, and occupancy of a property, which may affect environmental risk, zoning, or. more

Property Management

Property management is the oversight and administration of real estate assets on behalf of the owner, covering leasing, maintenance, financial. more

Property Maintenance

Property maintenance refers to the ongoing upkeep, repair, and management of a building or land to preserve its safety, functionality, and appearance.. more

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