Buyer's Agent Vs. Seller's Agent

Buying

Do I need a Buyer’s Agent? This is something we hear from quite a few clients during our first time meeting them. From our point of view, finding the right property can be quite an overwhelming task. Regardless if it’s for investment, a temporary place to live or your forever home, house-hunting can be daunting for even the most experienced and educated. It takes plenty of dedication, energy, patience and nerves of steel. One other major downfall of home-hunting is the substantial amount of time it takes.

If the thought of trudging around to open homes with your kids in tow is as desirable as having a root canal, especially after a hectic Saturday or Sunday morning, working with a buyer’s agent will absolutely help to alleviate the stress of the process of finding that perfect home.

Should I Use a Buyer’s Agent?

You may be thinking about when the right time to engage a buyer’s agent is, and to us, it’s a totally personal decision. If you’re at the point in your search that it’s satisfying enough to look online but not really visit any potential houses, it’s likely a good idea to wait. But if you’re looking and find yourself not having answers to many questions that pop into your mind, or you’re getting more serious about wanting to look at homes, it’s a good time to start your research to find someone to represent you and your interests during the home-buying process.

Something to keep in mind is a buyer’s agent doesn’t cost you anything, which is one of the best pros of hiring one. It’s a free-to-you service as the seller pays the commissions to both the listing agent and the buyer’s agent – so why wouldn’t you have someone on your side, protecting your interests that someone else has to pay for? Are there really any cons to hiring a buyer’s agent?

Buying and Selling Houses: Which Comes First? | Toronto Realty Boutique

What Makes a Good Buyers Agent?

Many realtors use their expertise to represent listings as well as clients looking to purchase. But there are many qualities that you should look for in a buyer’s agent that are critical to a successful relationship, and to ensure your best interests are always the first priority. Here are some of the qualities that make a good buyers agent.

Hire an Experienced Buyers Agent

Your buyer’s agent should be an experienced professional who will act on your behalf throughout the buying process. They should be familiar with market data, trends and the current landscape of the market in the areas that you’re interested in. They should understand the path to purchase and the pros and cons of various buying situations such as multiple-offers and bully offers.

Real Estate Guide

Your buyer’s agent should also have a level of objectivity and be able to convey the facts to you without preference or judgement – they should be there to guide you through making the best decision for your family and your budget, and then ensure the transaction is easy to understand, seamless and fun. Yes, it can be fun.

Understanding of Finances

We also believe a strong finance background is something you should look for in a buyer’s agent. Someone that can assist in crunching numbers, perform an analysis on the home based on past and the predicted future value of the home, and someone who understands how mortgages work.

Your buyer’s agent should be able to help you determine the size of your deposit with the offer and how a deposit can be used to your advantage. Analysis of the seller’s wishes should also be considered and how parts of your offer can be leveraged to get you the best and most attractive deal that the seller will also be satisfied with.

Finding You the “Right” Home

A good buyer’s agent should also be friendly, trustworthy, a killer negotiator and above all else, honest. The purchase of a new home is one of the most important, and expensive transactions of your life. Making an offer on a home isn’t about checking the boxes for the seller – it’s making sure that the home you’ve fallen in love with won’t give you regret later on.

The job of a buyer’s agent isn’t just to search MLS for homes and book appointments – they should be looking deeper into your needs and wants, and perhaps pushing you out of your comfort zone to consider properties that may be of a good match.

We’ve had many experiences where we’ve booked a showing for clients in a home that we thought was perfect, but they wouldn’t have necessarily considered. An overwhelming majority of the time, that’s the home our clients have loved and purchased. That’s what a good buyer’s agent does – it’s not just about the paperwork. It’s about understanding your needs, finding the perfect home and getting the deal done on your terms.

 

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