Why do I need a Realtor® in buying homes?
#1. In a hot seller’s market, usually, one listing attracts multiple buyers. In order to catch the best opportunity, you need to see the listings immediately after they launch to the market. A responsible Realtor® can help you achieve this.
#2: In a buyer’s market, when there are a lot of listings and prices are in a trend of decreasing, you want to know when is the best time to enter into the market. Among all listings, which one is with the best value? A professional Realtor® can tell you this.
#3: You find a property and you like it. However you are not sure whether this property is priced right? And you also want to know what price you should put in your offer? A professional Realtor® can do an analysis for you.
#4: Also, you find a property and you like it, but you are not sure if the title is clean and are there any hidden issues behind it? You need a Realtor® to check it for you.
#5: Again, you want to buy a condo. You want to know the overall management of the strata, how is the maintenance going, what are the rules and regulations as well as the restrictions of the strata? A responsible Realtor® will help you to read all strata documents and explain the potential risk and value to you.
#6: Once you are satisfied with everything of a property, you need to draft a contract. A professionally trained Realtor® can help you to write a contract with the best protection of your rights and interests.
#7: At the negotiation stage, to best understand the bottom line of yourself and that of the seller’s. You do need a skillful Realtor® who can provide you with the objective opinions about the market. If your Realtor® has excellent negotiation skill, it will be a great bonus to you to achieve the best price with the best terms.
#8: After signing the contract, your realtor can also guide you through a series of inspection, mortgage process, insurance, notary public, closing, and moving-in procedures etc.
Can I use a listing agent to represent me?
#1: Starting from June 15, 2018, BC province formally stopped the limited dual agency relationship, which means, if a Realtor® represents a seller, he or she cannot represent a buyer at the same time. But a listing agent can still provide a buyer with basic real estate information, even provide a buyer with a standard contract, yet, he or she cannot give the buyer specific advice regarding the price and other conditions.
#2: The role of a listing agent is to protect the best interests of the seller, and help the seller to sell the best price and get the best term for the seller.
Do I need to pay the buyer agent’s commission?
As a buyer, you don’t need to pay the buyer agent’s commission. Usually, the buyer agent’s commission is included in the listing price, and will be paid by the seller upon completion. Every agent can access the same resources, the difference is just their expertise. Once you choose a Realtor® as your buying agent, please respect his/her service, and do not shop around. However, if you are not satisfied with his/her service, you can also request him/her to stop service, then you can find another agent to help you.