There are many things we can do on our own to save money without the need to call on a professional. For example, lots of us can build a deck, paint our house, or do our own taxes just fine without any outside help. However, when it comes to real estate transactions, it’s not that easy to go it alone. Finding a good Realtor (also referred to as a ‘sales agent’) is an important step when buying a home, condo or recreational property. Trust me, I’ve seen a few deals go bad in my experience and it’s heartbreaking for everyone involved. Although it may be appealing to DIY your home purchase and save on paying the commission, there are solid benefits to working with a professional real estate agent.
Why hire a realtor?
Buying or selling a home is a complicated, legal transaction, and the biggest investment most people ever make. Unless you have experience or training in real estate contracts, finance or related legal issues, it can be quite overwhelming. You’ll want to hire a real estate agent who has a wealth of experience as well as your best interests at heart. Here are a few other key considerations:
- They are trained & certified
All real estate sales agents in Canada have to be certified and registered. They all take courses to get their certification, and the good ones will stay up-to-date with continuous learning throughout their careers. Be sure to ask for credentials when hiring your next agent.
- They know the area & the market
Hiring a local real estate agent is important as they understand the area and the local trends. They also understand the real estate market overall, so they can advise you on industry happenings and recommend various options you may not have known.
- They are expert negotiators
Let’s face it, some people can’t negotiate their way out of a paper bag, and that’s OK, because that’s what a Realtor is hired to do. A real estate transaction involves a lot of potentially awkward negotiating, and you need someone with confidence, know-how and experience doing the dirty work for you.
- They are bound by a code of ethics
Your agent is governed by various rules that dictate what they can and cannot do. Your agent should always have your best interests at heart and work with integrity at all times.
Should you hire your friend or family member?
This question comes up on occasion and it’s worthwhile to think it through long before hiring someone you know. It can become quite personal and potentially impact your relationship if you don’t (and even if you do) hire them. It’s important to consider several factors that could make or break not only the purchase of your new home, but also your relationship. For example, can you both handle the high pressure and stress involved without any negative repercussions? Will they commit to you as they would a new client they are trying to impress, or put your priorities lower on the scale because they know how nice you are? You also must consider the fact that you will be paying them a lot of money, which can make some relationships strained. It’s advisable to settle the commission and all expectations up front, before you commit to hiring your family or friends.
It’s so valuable to have a professional on your side when going through something as complicated as a home purchase. There’s a lot that can go wrong, so be sure to do your research and find a great real estate agent who is a perfect match for you. This also goes for finding a mortgage professional – you don’t need to ever ‘settle’ on whomever your bank or lender assigns. A good mortgage broker has your best interests at heart too, and will go the extra mile to find you a mortgage that works for you and your family. Whether you’re eager to get a jump start on the spring housing market, or you’re just looking to see what mortgage renewal options are available, be sure to connect with me, Darren Robinson at 705-315-0516. I’ve got the experience, training and integrity to help you navigate the complicated world of buying a home; I’ve got your back.