Recently we met a young couple who were just starting to search for their first home without the assistance of a Realtor. After they expressed their challenges, I decided to write this post to share with you the benefits of hiring a Realtor when purchasing a property. This young couple were going through open houses on the weekend trying to get an idea of value in various areas and spending a lot of time trying to figure out the buying process on their own. They were not pre-approved and didn’t have the ground work completed to be ready to buy if they were to find the “right” house. Realtors can offer knowledge, experience and save you time when you are searching for your home.
The home buying process can be complex and Realtors can help by sharing our knowledge and experience while working to protect your best interest. During the initial consultation, a Realtor will provide information about services offered and review the buyer representation agreement. Furthermore, a realtor can help to determine if a buyer is ready to purchase a home and will ask qualifing questions and can provide a referral to a mortgage specialist who can pre-qualify a buyer in order to know what price range a buyer can look in. Simply put… if you don’t have a pre-approval, you shouldn’t go shopping! Once buyers know their budget, have the down payment and understand the true cost of home ownership… then fun can begin.
Generating a WANTS vs NEEDS list will help to narrow down what style of home and area a buyer should look. Realtors can help provide valuable information about market conditions and information about neighbourhood sales. Further, they can provide information about making an offer on a property and share Real Estate advise when it comes to pros and cons of various types of house styles and different neighbourhoods.
One huge benefit of working with a Realtor is that Realtors have access to MLS information the public isn’t privy to. Realtors can also ensure buyers are provided with real time information about newly listed property that meet their criteria allowing buyers to have access to new listings before they are uploaded to the public realtor.ca site. Realtors will make appointments to have private viewings of potential homes, answer questions about value, tax assessment, property tax information, neighbourhood sales and more! Realtors view many homes and have a eye for seeing benefits and faults in properties. It is good to have someone on your side when it comes to comparing various potential homes. Once “the one” has been found, a Realtor will prepare an offer or Agreement of Purchase and Sale and will be sure to protect your best interest by inserting clauses and conditions into the offer. Realtors then go to bat for the buyer and works to negotiate the best terms, conditions, closing date and price. We can provide referrals to other professionals such as home inspectors, insurance agents and lawyers that can help with meeting conditions and closing the sale. After the home inspection and other conditions of the sale are completed and the home is sold firm, Realtors will be there to continue to answer any questions buyer may have and ensure closing day goes as smoothly as possible.
A recent survey reveals what buyers feel are the top 5 benefits Real Estate Agents provide to buyers. The results are as follows;
