Buying a home is certainly one of the most rewarding experiences most of us will ever have; it’s also one of the most challenging.  If you’re buying for the first time, the process may seem overwhelming.  And even if you’ve bought several homes, every move is different and presents new challenges.

1.  With A Realtor® You Don’t Have To “Do It Alone.”

A good Realtor® has the training, the know-how, and the experience to help you through each step of the process and to make the process of finding, buying and moving into your home as smooth, quick and enjoyable as possible.

2.  A Realtor® Has Valuable Sources Of Information

Everything from market trends, neighbourhoods and, especially, information about the homes for sale throughout the areas that appeal to you.  Remember, not every home seller runs an ad in the local paper or puts up a sign in the yard; you could be driving by some outstanding properties for sale that may be just what you’re looking for in a home, but you don’t know it.  An agent, on the other hand, offers you access to complete, regularly updated information about every home listed by area agents through the Multiple Listing Service (MLS).

3.  Services Come To You Free

In general, as a buyer all of these services come to you free of any charge or obligation.  In the past, Realtors® always worked for the vendor, or seller, of homes, but has of January 1, 1995 you now have the choice to hire a Realtor® to work exclusively for you!

4.  Commissions

Commissions from the sale of the home will still be paid by the seller from the proceeds of the sale-there is usually no direct, out-of-pocket costs to the buyer to hire a Buyer Agent.  These new rules put you in a “win-win” situation.  As you’ll understand after reading the following several questions and answer, an agent’s professional, expertise and effort can be of considerable help throughout the buying process.

DO I WORK WITH JUST ONE REALTOR® WHEN I’M BUYING A HOME?

Typically, yes.  Your Realtor® will provide you with special treatment.  Educate you, look out for your interests, guide you along the way, answer all your many questions and over all, act as your complete source of real estate information.  In return, your Realtor® expects your commitment to purchase a property using their services and if you are impressed with their level of service, provide an excellent reference to your friends who might want to buy or sell a home.  There are often emotional needs to be met at the same time and they are able to listen carefully to what they are in order to satisfy them.

HOW DO I FIND THE RIGHT AGENT TO WORK WITH?

The key word work is right.  While there’s certainly no shortage of nice and “fun to work with” Realtors® to choose from, it’s important that you find one who can fully understand your wants, needs and individual tastes.  At the same time, you’ll want to be able to respect his or her personal, and professional judgement.

Above all, look for someone who makes you feel comfortable and whose advice you trust.

Here are some important points for you to consider…

• Choose an agent who you feel comfortable with AND who has the skills you need…A good listener, with experience in the industry who isn’t in the business for ‘one transaction’ …but who will treat you as a ‘Client For Life.’  Find a Realtor® who really understands the benefits and advantages to you of Buyer Agency.  Pick an agent who has strong negotiating skills… Once you find your ‘dream’ home, and it’s time to put in the offer, you want someone who will be a strong at negotiating the offer!  The right buyer agent can literally save you thousands of dollars at the negotiating table!
• Select a Realtor® who will be ‘around’ after the offer has been accepted and even after you take possession of your new home.  So many agents are tempted to just take the $$ and run… Without any thought to building a long-term, helpful relationship with their clients, or being consultants to them.
• There are many ways to find a real estate licensee with a reputation for excellence.  Word-of-mouth is one good source.  Ask friends, neighbours and fellow employees who have recently bought or sold a house to recommend their choice of an agent.  You might meet an agent you like at an open house who is showing one of the properties for sale in your neighbourhood.  Or, you could contact several local real estate companies to inquire if they have an agent who specializes in selling homes similar to what you are searching for.
• The internet is also a good way to locate licensees who specialize in properties and regions that be one of interest to you.  Make appointments with agents to discuss their range of services, background, knowledge, and fees or commission rates.  After these interviews, choose the agent who seems best able to render the services and produce the results you are seeking.

WHAT WILL AN AGENT CHARGE?

In general, agents work on a commission basis and receive payment only after the successful completion of a sale.  As a buyer, you will be asked to agree to have the co-operating seller’s brokerage agreement to fund the buyer’s agent commission for your agents services.  The commission is usually stated as a percentage of the total sale price or as a fixed dollar amount.  Note that GST is applicable to commissions.  The commission rate is neither fixed by law nor by any real estate board; it is negotiable  between you and the agent you engage to help you.  The seller’s agent traditionally shares this commission/fee with the agent working for the buyer.

Choose the agent who seems best able to render the services and produce the results you are seeking.