Buying

Interested in getting paid to buy your next property?

Why do I need a buyers agent?

Many Buyers mistakenly think that by approaching the Sellers agent directly they are going to secure the ‘best deal’. Unfortunately the Sellers agent has a duty to prioritize the interests of their client, the Seller. As their representative, their job is to get the highest price from a Buyer, at suitable terms and in the timeframe that the Seller desires. Your needs as a Buyer are secondary to the priorities of the Seller. Often times such Buyers find out too late that their amazing dealmay have been one of their costliest mistakes.

Despite strong promises to remain unbiased, human nature often prevents complete impartiality. In a two-way deal, (referred to as ‘double-ending’) a realtor can effectively work only in the best interest of one party, potentially leaving the other side feeling taken advantage of. In Ontario, the recently enacted Trust in Real Estate Services Act has tightened rules around double-ending, eliminating language that referred to both parties in a transaction as “customers” when represented by the same realtor. The best case scenario is to have your own representative to help you through the process.

The Top Reasons why you should have a Buyers Agent

1. Hiring a Buyers Agent Is Free
   • One of the most compelling reasons to hire a buyers agent when purchasing a house is that it doesn’t cost you anything. In the vast majority of cases, hiring a buyers agent comes at no expense to you. In fact, with our Buyers rebate, it earns you money!
   • There are rare instances where a buyer might need to pay for a buyers agent. For example, when dealing with a for-sale-by-owner (FSBO) property where the seller is unwilling to pay a commission to the buyers agent. While such situations are infrequent, it’s essential to be aware of this possibility if you’re considering a FSBO purchase.
   • Given that hiring a buyers agent is typically free, it’s a straightforward decision to enlist a professional who can represent your best interests during one of the most significant transactions of your life.
2. Expertise in House Viewing
   • Whether you’re a first-time homebuyer or a seasoned pro, chances are you don’t inspect houses daily. A successful buyers agent, on the other hand, views dozens of properties each week.
   • Another compelling reason to hire a buyers agent is their ability to recognize crucial details when viewing houses. They know what to look for, including potential red flags that you might overlook.
   • With their experience and trained eye, a buyers agent can easily identify any issues within a house, ensuring you make an informed decision.
3. Evaluating and Securing Financing
   • The world of real estate financing can be intricate and confusing. When you hire a buyers agent, one of the valuable services they provide is assistance with evaluating and securing the best financing for your specific circumstances.
   • A buyers agent will guide you through the various financing options, helping you determine the most suitable type of mortgage. Additionally, they can facilitate the process of securing financing through a mortgage broker.
4. Coordinating Property Showings
   • Coordinating property showings is a crucial but often overlooked task that buyers agents handle daily. It can be complex and requires careful organization.
   • When you hire a buyers agent, they take responsibility for coordinating viewings of potential properties. Depending on your house search, they may arrange numerous showings across different towns and at various times.
   • If you’re interested in multiple properties, your buyers agent ensures you have the opportunity to view them. This involves making phone calls, planning efficient routes for showings, and providing essential information about each property.
5. Expertise in Real Estate Contracts
   • Even if you’re an experienced homebuyer, navigating a real estate contract can be daunting. Hiring a buyers agent means enlisting a professional who thoroughly understands real estate contracts.
   • Real estate contracts have multiple components, and having an experienced guide is essential. Buyers agents are well-versed in contract intricacies, including various contingencies that need consideration during a purchase.
6. Access to Experienced Professionals
   • During a real estate transaction, you’ll require various professionals. When you hire a buyer’s agent, they come equipped with a network of recommended experts. These may include mortgage brokers, home inspectors, real estate attorneys, and other essential services.
7. Negotiation Expertise:
   • A critical aspect of buying a house is determining the right offer price. When you enlist a buyer’s agent, they become your skilled negotiator. Whether you’re dealing with an overpriced property or navigating market conditions, having an advocate on your side is invaluable. Your agent can analyze market data, structure contract terms, and ensure you make informed decisions.
8. Transaction Management
   • Real estate delays can be frustrating and costly. A buyer’s agent helps keep the transaction on track. They coordinate timelines, communicate with all parties involved, and minimize potential setbacks. This ensures a smoother process for both buyers and sellers, avoiding unnecessary stress and legal complications. If things don’t stay on track, the experience can be at best frustrating, and at worst a legal battle that may have financial implications.
9. Emotional Filter
   • Purchasing a house is an emotional journey, and emotions can sometimes cloud judgment. Hiring a buyer’s agent provides a valuable benefit: they act as an emotional filter. Unlike buyers who may become attached to a specific property, agents remain objective. They help prevent impulsive decisions driven purely by emotions. While the buyer has the final say, the agent assists in evaluating the pros and cons of potential properties, ensuring a more rational decision-making process.

1. *Please note that this offer is only available from Usman Imran, Sales Representative and not from other licensees of One Percent Realty Ltd. Offer is based upon a co-operating commission rate of 2.5% as advertised on MLS. If the advertised commission is less, then the rebate will be reduced proportionally. (eg: 2.25% offered on MLS, will provide a rebate of 0.75% to the client.) If the commission to the co-operating agent is advertised at 1.5% or less, no rebate will apply. Industrial/Commercial/Investment properties may be subject to additional terms and requirements, please contact me for further details. Offer may be subject to additional terms and requirements. Rebate will be paid after successful closing and receipt of funds by the cooperating brokerage. ↩︎