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How do real estate brokers help buyers?

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Estimated reading time: 2 minutes, 24 seconds

When buying your first home, buying agents can make a world of difference. Here are some invaluable tasks real estate brokers will help you with throughout the buying process: How do real estate brokers help buyers?

  • Your buying agent will put you in contact with the people and resources needed to obtain a mortgage pre-approval. 
  • Your buying agent will sit down with you and help you (realistically!) determine your negotiable and non-negotiable criteria, presenting to you the options available within your buying capacity.
  • Your buying agent will set you up with a property alert, which automatically sends you relevant new listings meeting your criteria. An organized buying agent will also manually scan through Centris every day and contact you  directly about interesting and relevant new listings.
  • Your broker will help you narrow down your favourite options and will organize property visits with each respective seller or selling agent. They will also help you filter out options which don’t make sense from a financial or resale perspective.
  • After visiting each property, your buying agent will advise you on a strategy for submitting an offer. He or she will help you draft your offer to purchase, including your conditions, your asking price (based on a CMA), and your expected delays.
  • Should you receive a counter-offer, your buying agent will help you defend your price, or negotiate to find a compromise. In the case of a bidding war, your broker will act as your objective financial counsel, helping you stick to market value rather than overpaying in the heat of the moment.
  • Once your final offer is accepted, your buying agent will guide you through the follow-up on your conditions, including getting together the various documents you’ll need for your mortgage loan and the notarization.
  • Your buying agent will attend the inspection of the home, helping you ask the right types of questions and interpret the inspector’s report on the condition of the property.
  • If buying a condo, your broker will look through the essential documents for or with you, such as the condo association minutes for the last 2 years, the seller’s declaration, and the financial statements.
  • Your buying agent will accompany you to the notary for the final signing of the documents, which will complete the legal transfer of the property from seller to buyer.
  • Throughout the buying process, your buying agent will answer all your questions about the legal, financial, or logistical process of buying a home. Buying a home is a more complicated procedure than you would think, and questions do inevitably come up! Some of the more technical or property-specific issues are difficult or impossible to find information about online. In these cases, your buying agent’s professional experience and market knowledge will steer you away from making bad investment decisions.

A buying agent is present and valuable at each and every stage of your home buying process, and moreover, their guidance is free! Why miss out?

 

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