What is SRR or Seller's Rights Reserved and how can it be used to your advantage?

Here is what the Calgary Real Estate Board (CREB) Rule states in regards to SRR:

“Seller’s Rights Reserved” means a Listing which permits the Seller(s) to sell their property themselves, and which must comply with the Three Pillars of MLS® and the interpretations thereof." -page 20 sec jj of CREB Rules

Typically, remuneration owed to the brokerage may be structured differently if the property is sold due to the seller’s own efforts. If this is the  case, most board rules state that “SRR” must be shown in the commission code field or disclosed in some other manner. Builders list thier properties as SRR all the time, giving the showhome staff the opportuntiy to move the product from the sales center as well as the Realtor selling the property on MLS.

Almost inevitabley the conversation of Real Estate comes up, and if your property happens to be for sale I can guarantee you will want to promote your listing, if not directly to the person or people you are with but with the intent that they tell someone about your perfect listing. What if that results in a sale, what if that was the right person at the right time for the right house? This is the situation where SRR can really help, if you have made arrangements for this addition in the listing contract you will now have the ability to essentially sell your own property and depending on the details, you may be able to reap the rewards of a different and previously agreed upon remuneration amount. Afterall, if you, the seller create the sale and the buyers choose to go without representation, then who exactly is the cooperating brokerage as outlined in the listing contract pertaining to matters of remuneration? 

In its simplest form, "SRR" may be able to give the seller the opportunity to find the buyer for the property and perhaps pay less commission. Thats what the builders do and perhaps in a small community we shoud too. After all, chances are good, you, the seller are going to be talking about your listing more than your Realtor will be talking about your listing, and perhaps you could align things so that you can benefit from your hard work? 

When you are sitting down, interviewing Realtors in a small community, you may want to bring up the topic of Sellers Rights Reserved, perhaps it is something that you may find valueable. I have tried to find even one reason why this situation or simply the knowledge of the situation would not be a beneficial option to a seller if prepared and supported and I just can't seem to think of any.

So the nitty gritty part of this blog post, the one that is the most important to me is how this can positively affect sellers in a small community. A community such as ours. The community in which I have a real estate practice, the one where I live and the one that I am accountable to and so very thankful for. 

Yours, in truth always,

Kathleen