Sun
There are lots of ways to find a REALTOR. As you drive through prospective neighbourhoods, jot down the names and numbers of REALTORS on the For Sale signs. Open Houses are a great way to meet face-to-face. Make sure to ask your friends or family members. Maybe they have worked with a REALTOR they love.
Interview two or three REALTORS, ask them for references from clients and then pick the REALTOR you like best.
Once you select your REALTOR, you will enter a relationship with a real estate brokerage. The relationship between a real estate brokerage and a client is called “Agency” and there are three major kinds.
Seller (Vendor) Agency
The real estate brokerage and all its REALTORS represent the seller exclusively and it’s their job to get the best offer on the home. They are legally obliged to tell the seller anything known about a buyer. For instance, if a seller’s REALTOR knows a buyer will pay more for a property, they must tell the seller.
Buyer (Purchaser) Agency
The real estate brokerage and all its REALTORS represent the buyer exclusively. They seek out homes that meet the buyer’s needs and help assess the merits and defects of potential homes. They keep the buyer’s information confidential and never disclose information like the maximum amount their buyer is willing to pay. You may be asked by your REALTOR to sign a buyer agency agreement. In fact, in some provinces, REALTORS are required to ask you – for your own protection. This agreement ensures that the REALTOR and the brokerage can look after your best interests.
Dual Agency
Sometimes, a brokerage may have an agency relationship with the buyer and the seller. Both the seller and the buyer must give their informed consent, and the REALTOR must always provide full and timely disclosure of all pertinent information to both parties.
Sell and buy with the same REALTOR?
Absolutely! Especially if you’re remaining in the same community. Your REALTOR is already an expert on your needs, so it can save you a lot of time and energy.
Stick with your REALTOR
One dream, one team. The REALTOR you select will become an expert on your specific needs and tastes. Scattering your time and energy amongst multiple REALTORS will work against your goal of finding your best home. And because most REALTORS have equal access to the same property listings, there’s no real advantage to having multiple REALTORS.
Source: Canadian Real Estate Association, www.howrealtorshelp.ca
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HERE’S HOW TO GET THE MOST OUT OF WORKING WITH A REALTOR:
– make a list of what you’re looking for in a home. Divide it into needs and wants;
– reveal all your needs at the outset. You may change your priorities, but don’t change your requirements daily. Let your REALTOR know your financial capabilities so they don’t waste time showing you homes you can’t afford;
– keep appointments and be on time. Allow enough time to carefully view properties;
– make a list of questions and ask them for every property you view;
– when you find a home you like, review all the details with your REALTOR to ensure it includes everything you want.
– Be accurate, honest, prompt and cooperative. With your help, your REALTOR can provide you with excellent service.
(Source: Real Estate Board of Greater Vancouver)
© The Vancouver Sun 2007