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.
- $1M+ professional liability coverage
- Real Estate Assurance Fund protection
- RECA-approved standardized contracts
- Annual legal update training requirements
Risk mitigation. Agents know which clauses protect buyers, how to structure conditions that hold up legally, and when specialized legal counsel is needed beyond standard purchase agreements.
Disclaimers: Professional insurance has coverage limits and exclusions. Complex legal matters may require independent legal counsel.
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
Related Questions
- Who pays for the Real Property Report in Alberta?
- What does "subject to financing" mean in an offer to purchase?
- What is the typical closing period in Edmonton?
- What is title insurance and do I need it?
- Can I waive the home inspection in Edmonton?
- What is a "firm" offer vs a conditional offer?
- How much earnest money (deposit) should I put down in Alberta?
- What happens if I back out after removing conditions?
- Do I need a real-estate lawyer in Alberta?
- What's the difference between a REALTOR® and a real-estate agent?
- What documents will I sign at closing?
- What is a Buyer Representation Agreement and do I need one?
- What is a condominium document review and why is it important?
- What is a holdback and when is it used?
- What are common conditions in Alberta purchase contracts?
- What is possession day and what should I expect?
- What is the difference between closing and possession in Alberta?
- Can sellers stay in the house after possession (rent-back)?
- What happens if there are defects discovered after possession?
- What are the benefits of working with a REALTOR® when buying a home?
- Is there an advantage to signing a Buyer Representation Agreement with a REALTOR®?
- What legal protections do I gain by hiring a REALTOR® instead of going it alone?
- Who pays for the Real Property Report in Alberta?
- What does "subject to financing" mean in an offer to purchase?
- What is the typical closing period in Edmonton?
- What is title insurance and do I need it?
- Can I waive the home inspection in Edmonton?
- What is a "firm" offer vs a conditional offer?
- How much earnest money (deposit) should I put down in Alberta?
- What happens if I back out after removing conditions?
- Do I need a real-estate lawyer in Alberta?
- What's the difference between a REALTOR® and a real-estate agent?
- What documents will I sign at closing?
- What is a Buyer Representation Agreement and do I need one?
- What is a condominium document review and why is it important?
- What is a holdback and when is it used?
- What are common conditions in Alberta purchase contracts?
- What is possession day and what should I expect?
- What is the difference between closing and possession in Alberta?
- Can sellers stay in the house after possession (rent-back)?
- What happens if there are defects discovered after possession?
- What are the benefits of working with a REALTOR® when buying a home?
- Is there an advantage to signing a Buyer Representation Agreement with a REALTOR®?
- What legal protections do I gain by hiring a REALTOR® instead of going it alone?