Purchasing a home is the most significant purchase most people make in their lives. Whether buying or selling a property, it is important to be informed before undertaking such a large transaction. Real estate professionals can be a valuable resource when navigating the real estate market. Whether or not you consult a real estate professional, the more you know and understand the market, the more likely you will be satisfied with your transaction.
For information about real estate agents select from the options below.
Entering the real estate market is a big decision. If you are thinking about hiring a real estate professional, it is important to understand your options.
What is the difference between a real estate agent, a broker, and a REALTOR?
Real estate agent: Real estate agents are registered with the Saskatchewan Real Estate Commission (SREC). A real estate agent must work for a real estate broker and cannot work independently.
Real estate salesperson: Real estate salespersons are registrered with the Saskatchewan Real Estate Commission (SREC). A real estate salesperson must work for a real estate broker and cannot work independently.
Real estate broker: Real estate brokers can work independently and/or hire real estate agents. Brokers are also registered with the SREC, but are held to higher standards of knowledge than real estate agents. Brokers are responsible for their agents' actions.
REALTOR®: A REALTOR can be either a real estate broker or a real estate agent. The title is used by industry to indicate that the individualbelongs to the Canadian Real Estate Association (CREA) . It is not an official regisitration category.
If you are using an agent to buy or sell property, make sure he or she is registered with the Saskatchewan Real Estate Commission (SREC). To check whether an agent is registered, visit the SREC’s registration search page. It is an offence under The Real Estate Act for a person to act as a real estate agent without an SREC registration.
If an agent is representing both the buyer and seller in a transaction, the agent is required to inform you in writing. Ask your agent exactly how the situation will work.
If you plan to buy or sell a house yourself, make sure you understand the risks involved.
Whenever you are working with a real estate agent, to buy or sell property, it is important to keep the agent’s responsibilities in mind:
Some helpful tips
Any person who has a complaint respecting a real estate salesperson or brokerage can contact the Saskatchewan Real Estate Commission (SREC) and fill out a complaint form. The SREC is responsible for investigating complaints and has the power to issue reprimands, cancel or suspend registrations, order members to pay fines or restitution, and order members to obtain treatment or further education.
For more information about filing a complaint, please contact:
Saskatchewan Real Estate Commission
237 Robin Crescent
Phone: (306) 374-5233
Fax: (306) 373-2295
If you have concerns with how SREC has handled your complaint, please contact:
Superintendent of Real Estate
Insurance and Real Estate Division
Financial and Consumer Affairs Authority
4th Floor, 2365 Albert Street
Regina, Saskatchewan S4P 4K1
Phone: (306) 787-6700
Fax: (306) 787-9006
Be aware of any restrictions or orders that your agent may have been given. Disciplinary decisions and Cease and Desist Orders are published on the SREC website, on CanLII, and can be requested from the SREC.
The Real Estate Act regulates real estate agents and brokerages in Saskatchewan, as well as the purchase, sale, exchange, option, or lease of real estate, time-share plans, and property management agreements.
The Superintendent of Real Estate is responsible for the general administration of The Act and works with the Saskatchewan Real Estate Commission (SREC) to regulate the entire real estate industry. The Superintendent approves all SREC bylaws and hears appeals from SREC disciplinary decisions.
The SREC administers the licensing, education, and disciplinary functions for the real estate industry in the province. All brokerages, brokers, branch managers, and salespeople must be registered with the SREC.