What legal protections do I gain by hiring a REALTOR® instead of going it alone?
Quick Answer
Short answer: Standard forms, E&O insurance, trust audits and the Assurance Fund slash contract-error and fraud risk.
Detailed Explanation
DIY offers often miss Alberta-specific clauses like Real Property Reports or dower rights. REALTORS® use AREA/RECA-approved contracts updated yearly. If something slips, a $1 million errors-and-omissions policy and the Real Estate Assurance Fund back you up.
RECA's 2025 Discipline Summary shows licensed trades caused consumer loss just 0.18 % of the time; private deals saw a 1.7 % litigation rate—almost ten-fold higher.
Trust account protection. Deposits go into RECA-audited trust accounts with monthly reporting. Funds can't disappear or be misused like in private transactions.
Professional accountability. REALTORS® face license suspension for misconduct. Private sellers face no oversight, leaving you with expensive court battles if deals go sideways.
Disclaimers: Insurance and fund coverage have limits and conditions. Legal protection doesn't guarantee transaction success.
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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