Hiring a Real Estate Agent
Do you know what to look for in an agent when you are buying a house?
by Bridget Blonde, July 1, 2022
Buying a home is one of the biggest decisions most people make in their lives. Having a real estate agent on your team during this process can be invaluable. Here are some things to consider when deciding which real estate agent you will work with.
Shop around. You do not have to work with the first agent you meet or the listing agent (agent on the sign) for a specific property. Any agent can show you any property on the market, as long as they are properly registered and insured. Trust and communication are very important in the home buying process so, make sure you click and feel comfortable with the agent before you commit to working with them.
Check your potential agent out. Check out their references and reviews. Talk to anyone you know has previously worked with that agent. Visit the RECO (Real Estate Council of Ontario) website at www.https://www.reco.on.ca/ to confirm the agent's registration.
Understand what you are signing. Once you have committed to work with an agent, the agent will have you assign Buyer Representation paperwork to allow them to represent you in a transaction. Make sure the agent explains these forms to you including what they mean and the length of the agreement. If you can't get your questions answered satisfactorily, this is a red flag.
Get information about real estate commission fees. In Ontario, most frequently, a home seller pays all of the commission in a transaction. In these cases it is free to use a real estate agent for the buyer. In a very small number of situations, there are commission fees payable by a home buyer. Your agent will explain this to you in a way you can understand and commit to advising you when you are facing one of these situations.