- Looking out for your best interests:
By asking a REALTOR to act on your behalf during the purchase of a home,
you create an Agency Relationship and become the REALTOR's client.
REALTORS always owe their clients full fiduciary duties, such as loyalty,
obedience, confidentiality, accountability, duty of care, and full
disclosure of all pertinent facts.
- Getting the best deal - Know the Market:
What have similar properties sold for in the immediate area? How long were
they on the market? How does this one compare? Is it over-priced,
under-priced, or fair value? What type of market is it - is it a Seller's,
Buyer's or a Balanced market? By having this information at your
fingertips, you are in a position to negotiate the best price and take
advantage of any opportunities that may show up.
- Negotiation expertise:
While a REALTOR does many things, one of his or her most important
functions is to negotiate on behalf of their clients. When you purchase a
home, you want the best deal possible. Your REALTOR's job is to facilitate
this by drawing up legally binding contracts, assisting in negotiating
offers, offering advice and perspective and, if needed, acting as a
mediator during any potential disputes between you and the seller.
- Finding the right home and neighbourhood for you:
REALTORS spend a lot of time and energy making sure they know their local
market inside and out. They are familiar with the current market values of
properties in the areas you are looking and are your best resource for
finding the right home.
- Professional experience:
A REALTOR brings to the table all of his or her knowledge, training and
negotiation skills, and will explain exactly what you can expect from the
buying/selling process. He or she will be able to explain your rights and
obligations, help organize and strategize, and even discuss financing
options.
All REALTORS are members of the Canadian Real Estate Association (CREA).
This organization requires all of its members to adhere to a strict Code
of Ethics and Standards of Business Practice. The Code and Standards are
very important because they assure that all REALTORS offer the highest
level of service, honesty and integrity possible. All REALTORS are subject
to constant professional monitoring that keeps them directly accountable
to the individual consumers they serve. CREA also ensures that all of its
members are knowledgeable and highly trained in order to better serve the
public, and offers ongoing education courses so that REALTORS continue to
meet the highest professional standards in a constantly changing industry.
- Determining your "wish list":
What is it that you want from your new home? A particular style, design,
lot type? Proximity to schools, services, work? A pool? A two-car garage?
A specific price range? A REALTOR will help identify exactly what it is
you are looking for and ensure that you get to see all the homes that meet
your criteria.
- Assist with financing needs:
REALTORS are familiar with all of the complexities involved in the
pre-qualification, approval and negotiation of mortgage rates. Like many
industries, banks are experiencing quite a bit of competition and are
often willing to flex from their quoted rates. Experienced REALTORS can
often assist in finding the most competitive rates and terms available.
- Access to Multiple Listing Services:
REALTORS have exclusive access to the Multiple Listing Service (MLS). The
MLS system also allows a REALTOR to examine all properties for sale and
short-list the ones that are right for you. This not only offers more
choices but also saves you valuable time and effort.
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