I'm a first-time buyer—what protections do I gain by hiring a REALTOR®?
Quick Answer
Short answer: A REALTOR® guards your deposit, guides 17 contract forms, and opens doors to incentive dollars you'd likely miss.
Detailed Explanation
First-time purchases involve 17 separate forms in Alberta. A licensed REALTOR® walks you through each signature, ensures your deposit sits in a RECA-audited trust account, and keeps lender and CMHC deadlines on track.
The Real Estate Assurance Fund reimbursed $1.1 million in cases where funds skipped trust—none involved clients of licensed brokerages. Your agent also surfaces programs like the First Home Savings Account and HBP withdrawal that novice buyers typically miss, saving thousands in taxes and fees.
Legal protection & advocacy. REALTORS® carry $1 million E&O insurance and must follow RECA's Code of Conduct. If disputes arise, you have professional accountability versus handshake deals that offer no recourse.
Education & confidence. From stress-test calculations to closing cost estimates, agents demystify the process so you avoid rookie mistakes like waiving inspections or missing condition deadlines.
Disclaimers: Program eligibility varies. Individual results depend on financial profile and property choice.
Disclaimer: This page is for general information only and does not constitute legal, financial, or real estate advice. Always verify details with a licensed Alberta REALTOR®, mortgage professional, or lawyer before making decisions. Buy in Edmonton assumes no liability for actions taken based on this content.
Tim Grover, RE/MAX Excellence • 780-288-5144 • 5607 199 Street NW, Edmonton, AB
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- Does Alberta have a land-transfer tax?
- What incentives exist for first-time buyers in 2025?
- How does the First Home Savings Account work?
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- I'm a first-time buyer—what protections do I gain by hiring a REALTOR®?