Why Use An Agent To Buy A Home?
When you have decided to buy or sell a home, the services of a qualified real estate professional are of utmost importance. The ideal sales agent will have a good working knowledge of local real estate market conditions, be prepared to deliver a high standard of service to customers, and a good agent will save you time and money and aggravation.
Buying a home is a complicated business. Mistakes could literally cost you thousands of dollars or the missed opportunity of owning the home of your dreams. As a buyer, you are always in competition with all of the other buyers looking to buy your perfect home.
Agents are experienced negotiators who will manage your offers and counter-offers.
An Agent is familiar with the neighbourhood and can give you information on local real estate values, taxes, utility costs, services and amenities and knows the potential problem areas in a home, future development and traffic patterns in an area, and can guide you away from "lemons".
An Agent is familiar with the entire home purchasing process and can advise you of your legal and financial options as well as recommended appraisal, home inspection and contracting services.
An Agent can pinpoint homes hat fit your needs and dismiss those that do not, saving you time.
An Agent has exclusive access to the Multiple Listing Service (MLS). The MLS system allows an agent to access all properties for sale as they come on the market and short-list the ones that are right for you. This not only saves you the time of driving around or surfing the net, but in a highly active market, it can also save you the frustration of losing out on the home you really want!
An Agent will work solely for your best interests as a Buyer at no cost to you what-so-ever. You get incredible service for FREE! A Buyer's agent receives their commission from the seller's Agent by bringing you as the buyer to the home.
Note: In the case of a New Construction purchase, the Agent representing you as a buyer receives his commission directly from the builder at no additional cost to you. All builders have a flat price for each home, which already includes a portion for the commission to be paid to buyer's Agents.Once you as a buyer agree to have the help of an Agent for locating the perfect home for you and your family a
Buyer Agency Agreement will have to be signed in writing by both the buyer and Agent, acknowledging the type of relationship between you and that Agent.
Agency Relationships - What It All Means
It is in your best interest and ours, that full disclosures are made regarding the role and the nature of service Royal LePage Wolle Representatives will be providing you.PRIMARY DUTY TO CLIENT:
A REALTOR shall protect and promote the best interest of the Realtor's Client, while still dealing fairly, honestly and with integrity with all other parties involved in the transaction. Both the Listing Agent and the Buyer's Agent are obligated by law to treat both the Buyer and the Seller honestly and fairly.
Working with a REALTOR
In Real Estate, there are different possible forms of Agency Relationships. This will give you a better understanding of those relationships
1. Seller's Agent
When a real estate company is a "seller's agent", it must do what is best for the seller of a property. A written contract, called a listing agreement, establishes seller agency. It also explains services the company will provide, establishes a fee arrangement for the REALTOR's services and specifies what obligations a seller may have. A seller's agent must tell the seller anything known about the buyer. For instance, if a seller's agent knows a buyer is willing to offer more for a property, that information must be shares with the seller. Items of confidence a seller shares with a seller's agent must be kept confidential from potential buyers and others.
Although confidential information about the seller cannot be discussed, a buyer working with seller's agent can expect fair and honest service from the seller's agent and disclosure of pertinent information about the property
2. Buyer's Agent
A real estate company acting as a "buyer's agent" must do what is best for the buyer. A written contract, called a buyer's agency agreement, establishes buyer agency. It also explains services the company will provide, establishes a fee agreement for the REALTOR's services and specifies what obligation a buyer may have. Typically, buyers will be obligated to work exclusively with that company for a period of time. Items of confidence a buyer shares with the buyer's agent must be kept confidential. Although confidential information about the buyer cannot be disclosed, a seller working with a buyer's agent can expect to be treated fairly and honestly.
3. Dual Agent
Occasionally, a real estate company will be the agent of both the buyer and the seller. The buyer and seller must consent to this agreement in their listing and buyer agency agreements. Under this "dual agency" arrangement, the company must do what is best for both the buyer and the seller. Since the company's loyalty is divided between the buyer and the seller who have conflicting interests, it is absolutely essential that a dual agency relationship be established in a written agency agreement. This agreement specifically describes the rights and duties of everyone involved and ant limitations to those rights and duties.
CREA (Canadian Real Estate Association) Article 3 Sates:
A REALTOR shall fully disclose in writing to all parties in a transaction the role and the nature of service the REALTOR will be providing to the client versus the customer or other party to the transaction. The REALTOR shall also disclose his or her role to other REALTORS involved in the transaction.