Why do you need a realtor?
A person's home is often the largest single purchase he will ever make. If you are considering first time home buying or selling (or condominium, duplex, triplex, etc.) in Canada, then a realtor (real estate agent) can help you avoid the pitfalls of real estate transactions. You may also be interested in a realtor if you want to buy or sell commercial real estate, such as a warehouse or office space. Other types of property sales that can benefit from the help of a realtor include buying or selling acreages or farms.
Some people opt to sell their real estate directly. This is sometimes referred to as "for sale by owner." While selling your own property may save you the commission in the short term, you need to be ready to deal with the significant administrative overhead of real estate sales, and the risk that you will not get top dollar.
What does a MLS realtor or real estate agent do?
Some of the services provided by a real estate agent or realtor include assistance with obtaining a mortgage and referrals to real estate lawyers. As the seller's agent, the realtor should post your property via the Multiple Listing Service (MLS), promote your home via formal and informal means, prepare feature sheets and floor plans, and negotiate on your behalf to get the best selling price possible. As the buyer's agent, a realtor should proactively identify properties that match your desired criteria and negotiate on your behalf to get the best purchase price.
Considerations for choosing a realtor
Realtor's rate or commission: in Canada, typically the selling agent charges a commission to the seller and the commission is split between the buyer's agent and the seller's agent. Generally, the buyer does not pay a realtor commission. The seller's rate is not written in stone and can sometimes be negotiated. Discuss with your potential realtor the commission structure and what you will be getting for this fee.
Licensing: in order to become a licensed realtor in Canada, the realtor must have completed the appropriate studies and examination as required under the Real Estate Act of the province. Confirm that your potential realtor is licensed and in good standing with your local real estate board.
Specialization: Your realtor should be familiar with the neighbourhood and type of property you're looking to buy or sell. Some realtors specialize in waterfront properties while others focus on office space. Enquire about recent experience relevant to your requirements and ask for references.
Availability: The real estate agent should be available to meet with you on your schedule, which often involves viewing houses after normal work hours or on weekends. He or she should return phone calls promptly and politely.
“I Mason Oskoei MLS Realtor in Burnaby British Columbia, Canada always meet with first time home buyers face-to-face, and I have also step-by-step process I go through with them, which explains the entire process”. I am dedicated to selling your home or finding you that dream home you are searching for. I have designed my web site MasonOskoei.com with your Real Estate interests in mind. Drop me a line, I'd love to hear your thoughts! You are invited to browse my website and call or e-mail me with any questions you have about buying or selling a home in the area.