House on hand

Buying

Did you know working with a buyer’s agent to purchase a condo or house will give you a huge advantage over those looking without one? Many people think they can handle their own search, and simply work with the listing agent that represents the place they want to purchase. But what most don’t know is that this could actually put you at a huge disadvantage among your competition.

If you had the option and there was no additional cost, why wouldn’t you choose to save time, money, and reduce stress when buying a house or condo? Why choose to do all of the work yourself, spinning your wheels, when that precious time could be better spent on so many other things like family time, travel or even work.

What is a Buyer’s Agent?

A buyer’s agent is a real estate professional who is legally licensed to represent the buyer’s interests in a real estate transaction. Buyer’s agents are critical to your house or condo purchase. A good buyer’s agent will do much more than simply search for properties for you and schedule showings. These fundamentals, as well as negotiating contracts on your behalf is just the surface of what your buyer’s agent should be doing for you.

There is no additional cost to you the buyer to have an agent represent you, as the buyer’s agent receives a commission from the sale price. So not only does it not cost you anything to work with a buyer’s agent, it could actually end up saving you money in the end.

Benefits of Using a Buyer’s Agent

Working with a Buyer’s Agent Saves You Time
We all know how precious time is these days and embarking on a house or condo search takes up a lot of it. Countless hours can be spent looking online, doing research, reading conflicting articles about the real estate market. I can seem like a full-time job. Well it is! It’s the job of your buyer’s agent.

All of the experience and education a buyer’s agent has is immediately accessible to you when you work with one. Instead of spending hours researching online, looking at pictures of condos that may or may not work for you, and previewing homes, you’ll get all the homes or condos which meet your criteria from your agent.

Even if you are buying a pre-construction condo, you should work with a buyer’s agent who is an expert in this area of real estate. A pre-construction buyer’s agent will be able to recommend to you the best projects with reputable developers and financial backers. They’ll have strong relationships that will get you in the door first, and have access to special incentives and all of the floor plans.

Inside Expertise in Toronto Real Estate
Your buyer’s agent should have expertise in neighbourhoods around Toronto and what is trending as hot pockets and what areas you should stay away from. Your buyer’s agent should also know about recent pricing trends across the market as a whole, for the type of house/condo you’re looking for and how these can work for your budget.

Saying King West is a hot neighbourhood for condos isn’t enough any longer. You as the buyer should expect more from your buyer’s agent. You should receive building and street comps, future projections to analyze and firsthand information about the pros and cons of certain areas of the city.

Your buyer’s agent should also be able to help you determine what your criteria is, and what is a must-have versus a nice-to have, and if that list is realistic given market conditions and budget.

They Know What to Look For
When you’re looking for a property, you probably have a pretty good idea of what features you absolutely want. A buyer’s agent can not only help you find the right property, but also give you honest advice about a house or condo that seems perfect from the outside but might not live up to your dreams further down the road.

There are so many small details that get past home buyers but are easily picked up by the skillful eye of a buyer’s agent.

And although everyone can access public MLS listings, buyer’s agents can give you access to coming-soon listings before they hit the market. With a deep network, your buyer’s agent may be able to get you in first to see a hot property on the exact street you want, or in the condo building that’s on the top of your list.

Buyer’s Agents are Powerful Negotiators
Once you find the perfect property, you want to pay the best price for it. Listing agents are skilled in the art of price negotiation, but most buyers aren’t. This means that as a homebuyer, you’re placing your financial future in the hands of someone who isn’t entirely on your team.

A buyer’s agent who understands price negotiation and can advise you on the how to make the best offer, what the property’s negotiating factors are and help you get the best deal on your new home.

They Aren’t Afraid of Hurdles
Very few home or condo buying experiences go through without a hitch. From appraisals and inspections to drawn-out price negotiations, something is bound to occur to set back the process and have the potential to leave you discouraged.

A buyer’s agent will already be prepared for potential setbacks and should be proactive in their approach to getting you through them as quickly and smoothly as possible.

Buyer’s Agents are Teachers
During the buying process, your buyer’s agent should be educating you on everything pertaining to the transaction, and the process of choosing the right dream home for you. You should be able to ask as many questions as possible with comfort, knowing your agent has insights and sees things that many others wouldn’t.

The purchasing process should be an exciting time for you, and once everything is complete and you’re in your new house or condo, you should feel like you’ve just taken a crash course in buying. You should be confident in your purchase and know that you’ve made all of the right decisions based on the knowledge that’s been passed down to you from your agent.

When you buy real estate, it is the responsibility of the seller to pay all fees and commissions. This includes the fee for your buyer’s agent. Personal representation, with zero investment? It doesn’t get any better than that.

 

If you’re ready to start looking for your dream house or condo, the TRB team would be happy to represent your interests. We make buying a new home fun, educational and above all else, you’ll come first as we protect your interests, and your interests only.