Special offer

Buying a Home In Mississauga, Oakville or Burlington-Advantages of Using Your Own 'Buyer's' Agent

By
Industry Observer

As you begin the process of searching for a home in the Burlington, Oakville or Mississauga regions of Ontario , one of the most important steps to take is to find a real estate sales representative who you feel comfortable with and who has good past client references .

Many people searching for a home do not realize that they have the opportunity to save thousands of dollars, time and avoid potential problems by choosing to work with a REALTOR® early in the home buying process.

A REALTOR® will sit down with you and go over all of the things that should be taken into consideration when searching for a home.
They will provide you with valuable information and tools that will help you to find the right home at a price that fits your lifestyle and needs.
They will advise you on things to watch out for and will be there for you from the beginning until the day you move into your new home and will stay in touch with you once you've moved in should any problems arise.

As you begin to work with a REALTOR®, he/she will discuss with you the advantages of signing a 'Buyer's Representation Agreement '

A Buyer's Agency/Representation Agreement provides you with the top level of services a REALTOR® can provide and these services are most often provided to you free of charge.

Your Buyer's agent is paid for the work they have done for you through the Seller's agent whose property you have purchased. The Seller's agent is paid a commission by the Seller when their house is sold. From this commission, a certain percentage is paid to the Buyer's agent's office who then pays the Buyer's sales representative.

When acting on behalf of my buyer clients, I offer the highest levels of service, free of charge to my buyers.
In giving the best service possible to my buyers, I provide the following list of services to ensure that they have an enjoyable, smooth, care-free and happy home buying experience:

  • To assist my buyers in understanding what will take place, I outline the entire homebuying process from beginning to end.
    To facilitate this, I provide my buyers with a Homebuying Book and pamphlets on various things to do with the homebuying process.


  • In order that my Buyer clients feel comfortable with signing the Buyer's Representation Agreement, I explain it in detail and ensure them that if they are not happy with my services and are able to provide me with an explanation, they are able to cancel the agreement at any time.


  • As part of the Homebuying process, I discuss with my clients financing alternatives and determine their needs with regards to financing the purchase of a home.


  • I endeavour to find the best possible home for my clients and in order to do so, I meet with them and ask them to answer a fairly in-depth questionnaire that deals with their specific needs and desires in a home.


  • My Buyers have the right to always be kept up to date with the new listings that have come on the market.
    Immediately after determining my Buyer's needs/desires in a home, I register my Buyers on a Listing Update Program through our local real estate board that provides them with all of the new listings that meet their criteria by email on a daily basis.
    They are then free to peruse the information at their leisure and, since the best listings sell very quickly, are certain not to miss out on any new listings that come on the market within their guidelines and price range.


  • When my Buyers come across a property they would like to see, or if I recommend we go and see specific properties, I coordinate the showings and accompany my Buyers through all of the listings they wish to see.
    When looking through homes, I point out potential problems and concerns in relation to each particular property. This gives my Buyers the peace of mind in knowing that a trained eye who is working on their behalf is observing each property along with them.


  • When my Buyers find a home they would like to put an offer in on, I provide them with a Comparative Market Analysis on the property so that they know the value of the property.
    This enables them to make an informed decision when deciding how high they would like to go when negotiating on the home price.


  • I provide my Buyers with all of the information that is available on all properties that they wish to view.
    On any property that they have further questions about, if I don't know the answer I find out and let them know as quick as possible. This way they won't miss out on a home due to not knowing the answers to any pertinent questions they may be considering. 
    Time is always of the essence when searching for the right home.


  • If my Buyers are short on time or are from out of the region, I preview properties for them in order to weed out those that are of poor quality, require a great amount of work or are not suitable.
    This way my Buyers only need  view those properties that are of good quality, priced right and fall within their search criteria.


  • If one of my Buyers finds a For Sale By Owner, or if I find one for them that falls within their search criteria, I will set up an appointment to view with the Sellers and should my Buyers decide to put in an offer on the property, I will prepare the Agreement of Purchase and Sale and do all of the negotiating with the Sellers.
    I will also ensure that the Sellers pay my commission for the services I've provided to my Buyers and in payment for bringing them an offer on their property. This way my Buyers are still ensured of having my services provided free of charge, no matter if a property is listed on the MLS system or not.


  • When my Buyers find a home that they would like to put an offer on, I discuss with them the terms and conditions of the offer, advising them as to what clauses and terms I feel should be included for their own protection and in their best interests.
    I then prepare the Agreement of Purchase of Sale and present it to the Sellers and their Agent on my clients behalf.


  • I negotiate with the Sellers and their Agent to get the best possible price and terms for my Buyers.


  • As part of the Agreement of Purchase and Sale conditions that I recommend to my Buyers, I ensure that all offers are conditional upon my Buyer receiving a satisfactory Home Inspection Report on the property prepared by a highly qualified professional Home Inspector.

    I give a list of recommended Home Inspectors to my Buyers and ask them to choose one for the inspection. I also ask that my Buyers be present during the Home Inspection process and I ensure them that I will also be in attendance at the Home Inspection.

    Once the Home Inspection is completed, I discuss any issues with the Home Inspector and make recommendations to my Buyers as to how to proceed from this point forward.
    Most often, if a house requires certain upgrades or repairs, these can be negotiated on with the Seller during the negotiation and offer process.
    I endeavour to do this to the satisfaction of all parties involved so that my Buyers feel comfortable moving forward with a purchase of the home of their choice.


  • Any and all personal information that my Buyers disclose to me is kept in strictest confidence. I provide them with a privacy agreement that outlines this and my Buyers feel comfortable knowing that they can trust me to always keep their best interests in mind throughout the home buying process.


  • On any property my Buyers decide to offer on, I do my best to find out the Seller's motivation and reasons for selling as this information will play a vital role during our offer preparation and negotiations.


  • Once the offer to purchase has been accepted, I ensure that any and all conditions are satisfied in a smooth and timely manner. I provide my Buyers with a list of recommended lawyers and outline to my Buyer's their lawyer's role and what they can expect to pay.
    I also provide my Buyers with a list of Homebuying incentives and rebates that government bodies may be providing so that all of my Buyers receive the highest value possible in their home purchase.


  • My Buyers receive a list of home services that will be provided to them at a discount rate for having bought through me. These services may include, although are not limited to, moving and cleaning services.


  • On closing day, I ensure that the events of the day flow as smoothly as possible for my Buyers and am there to assist should keys need to be picked up or documents delivered.


  • To ensure that my Buyers are happy with their home purchase and to make sure they know I am always only a phone call or email away, I contact or visit my Buyers on closing day and discuss with them their new home and any concerns they may have.


    This is the day of celebration and I'm justly proud of my Buyers and their new home and all they have come through to reach this point.
    I ensure that my Buyers know that I will be staying in touch with them and that they may call or email me anytime should any issues arise with their new home or just to say hello!

 

©2009JoSmith

 

Jo-Anne Smith, the author of this article, is a REALTOR® with Brekland Realty Group, Mississauga and Oakville, Ontario and welcomes your real estate inquiries. To contact her, visit www.Oakville-BurlingtonHomes.com

Posted by


There You ARE!  I've Been Waiting For You!!!
Let's Get to Know One-Another:

Comments(20)

Gary Woltal
Keller Williams Realty - Flower Mound, TX
Assoc. Broker Realtor SFR Dallas Ft. Worth

Hi Jo, with everything you have provided here with all the advantages, it is almost like why WOULDN'T use a buyers agent?? Complete thorough look at this often misunderstood topic.

May 26, 2009 12:26 PM
Fran Gaspari
Patriot Land Transfer, Inc. - Limerick, PA
"The Title Man" - Title Insurance - PA & NJ

Jo,

Nicely laid out presentation of Buyer's agency...!!! This can be very confusing to those new in the market...!!! Thanks,   Fran 

May 26, 2009 12:43 PM
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

Jo, I tell my clients who are looking for a home to get a buyer's agent.  They are on your side and help protect you against so many things I had never known about before.  I love your list and can show them what buyer's agents are--so many people are unaware.

I have no doubt you would represent every single client in the best possible way!

May 26, 2009 03:33 PM
Sylvie Conde
Sutton Group-Associates Realty Inc., Brokerage - Toronto, ON
Broker, Toronto Real Estate

Jo-Anne, absolutely great post.  After reading this, I can't imagine why anyone would still opt out of a Buyer Representation Agreement.
What is usually confusing to buyers, should now be crystal clear.

 

 

May 26, 2009 05:44 PM
Kristin Johnston - REALTOR®
RE/MAX Platinum - Waukesha, WI
Giving Back With Each Home Sold!

Joanne, thanks for taking the time to explain each step of the process...I work as a buyers agent on most buyer transactions and wouldn't do it any other way.  I do what you do !

May 27, 2009 12:55 AM
Cynthia Tilghman, Realtor® Onslow County NC Home Specialist
Kingsbridge Realty, Inc - Hubert, NC

Hi Jo,
So good to see you back here!  As always, your post is thorough and informative!  Clients need to understand the process and the reasons they need a Buyer's agent.

May 27, 2009 01:04 AM
Jo-Anne Smith
Oakville, ON

hi Gary,

I don't think that many homebuyers fully understand what a Buyer's Rep can do for them and especially that there is no cost to them for using one. Many buyers still approach the listing agent directly.

thanks for your nice comment,

Jo

May 27, 2009 10:15 AM
Jo-Anne Smith
Oakville, ON

hi Fran,

Thanks! Yes, it is so involved and there are so many things a Buyers Rep does that it is no wonder it is confusing to those new to the homebuying process.

Jo

May 27, 2009 10:16 AM
Jo-Anne Smith
Oakville, ON

Thank you so much Carole!

Feel free to use my list anytime one of your clients is wondering what a Buyer's Agent does....I hope it helps them to feel more comfortable about using one.

Jo

May 27, 2009 10:18 AM
Jo-Anne Smith
Oakville, ON

Thanks for stopping by and for your nice comment, Sylvie.
Agency is confusing to many people in the homebuying and selling market and if we are able to help clear up the confusion by explaining it indepth, I'm certainly glad to do so.

(-;

Jo

May 27, 2009 10:19 AM
Jo-Anne Smith
Oakville, ON

Hi Kristin,

I'm with you on Buyer's Agency. I never allow myself to be a dual agent though....at times when I have the listing and a buyer wants me to do the offer for them, I offer them customer service (also require to get a form signed outlining what it entails) rather than buyer's representation. Do you have that in the USA?

Jo

May 27, 2009 10:28 AM
Jo-Anne Smith
Oakville, ON

Hi Cynthia,

Thank you!
The homebuying process is confusing enough to first time buyers, so I am hoping that by writing this, I can alleviate some of the confusion. Also, it's helpful to those who bought years ago and are not aware of the relatively new concept of 'buyer's agency'.

Jo

May 27, 2009 10:30 AM
Janice Ankrett
Burlington, ON
Staging Professional

Good post. I have always used a buyer's agent when purchasing a home. You should have your own representative when negotiating with the seller. It must be very difficult for an agent when they are trying to negotiate both sides of the deal.

Jun 02, 2009 08:11 AM
The Rains Team
Keller Williams Realty Atlanta Partners - Hoschton, GA
A higher standard in real estate

Hi Jo-Anne, I love how much detail you put in as to everything a buyer's agent does for their client...all for free--it's paid by the Seller! Often I don't think people realize just how important it is to have a buyer's agent represent them when purchasing a home. I think this really helped clarify why it is.

Have a great day,

Anne Rains

Jun 02, 2009 10:46 AM
Jo-Anne Smith
Oakville, ON

Hi Janice,

Thanks for your comments and for stopping by,

Jo

Jun 13, 2009 10:28 PM
Jo-Anne Smith
Oakville, ON

hi Anne,

Thank you!
The whole agency issue was difficult enough for realtor's to grasp onto when 'buyer's agency' began, so I completely understand the public at large being confused over it all. Hopefully most buyers will run into an honest and hardworking agent who will agree to represent them as their own agent.

Jo

Jun 13, 2009 10:32 PM
Brian Madigan
RE/MAX West Realty Inc., Brokerage (Toronto) - Toronto, ON
LL.B., Broker

Jo-Anne,

That summary of the steps and process is excellent. I'm sure your clients are quite impressed.

Brian

Aug 11, 2009 01:22 PM
Jo-Anne Smith
Oakville, ON

Thanks for stopping by with your very nice comment, Brian!

~Jo

Aug 12, 2009 01:36 AM
Brian Madigan
RE/MAX West Realty Inc., Brokerage (Toronto) - Toronto, ON
LL.B., Broker

Jo-Anne,

I haven't done one yet for clients, but when I do, I'm going to use yours as a checklist.

Brian

Aug 12, 2009 09:13 AM
Jo-Anne Smith
Oakville, ON

That's great, Brian!
I hope you find it helpful in preparing your own.

~Jo

Aug 18, 2009 12:04 PM