Why use a Buyer Agent in Halton Hills?
By Lia and Bill McNally
When you decide the time is right to start looking for real estate in Halton Hills, choosing the right buyer agent to have on your side is the first logical step. While there are different ways to be represented during a real estate transaction, none offers the benefits of having a buyer agent. This is the only arrangement in which your interests are put first.
What is a Buyer Agency? A buyer agency is an arrangement between a real estate brokerage and a prospective buyer for the purpose of finding a home. All real estate contracts are between the brokerage in which the salesperson is an employed and you, the client. Usually you will both sign a contract for a specific time frame. Your brokerage (represented by the particular agent you select) agrees to assist you in:
-Finding properties that meet your search criteria.
-Preparing a comparative market analysis to ensure you make fully informed decisions so you can take appropriate actions.
-Accurately preparing offers and other documents.
-Negotiations and helping to devise strategies to advance your interests.
-Getting the best possible price and the best possible terms.
-Dealing with mortgage lenders, home inspectors and other professionals.
-Preparing amendments, notices and other forms related to the agreement.
When you sign the buyer representation agreement you agree to:
-Work exclusively with the one particular brokerage.
-Advise the brokerage of any properties you are interested in.
-Not hold the brokerage accountable for any property defects or for failing to show you every home, as it is often not feasible.
Who Pays? In the majority of transactions the seller pays the buyer agent and the buyer pays nothing. There are a few unique situations in which you could be responsible for paying commission. The agent you select will go over them before you sign any documents.
Why not Approach the Selling Agent Directly? You can do this but you must remember that the Agent owes certain duties to the seller. If you agree to be represented by the selling agent as a customer, keep in mind that the agent is obligated to disclose any information he/she finds out about you. So, if you tell the agent how high you are willing to go to buy the house, they have to relay this information to the seller. This puts you at a distinct disadvantage when it comes to negotiations.
If you choose to be represented by the selling agent as a client, the agent owes both you and the buyer the same duties, therefore his/her loyalties are split between you both. The agent will be focusing more on coming to a mutual agreement, rather than trying to get you the absolute best terms.
Bill and Lia McNally of Johnson Associates offer buyer representation services. Each of their clients receives premium customer service. Their business is referral based, so you can be sure they'll go the extra distance to ensure you'll be singing their praises long after you've settled into your new house. Call them at 905-877-5165 if you're ready to shop or if you'd like more information at no obligation.
