Do you want to save thousands on your home purchase? Here's how...
What's a Buyer's Representative?... And Why Should You Use One?
A Buyer Representative represents the consumer who is buying the property in a real estate transaction, not the seller.
In 1995 Canadian agency rules changed in a way that helps buyer save thousands of dollars and a lot of extra stress. (Prior to 1995 all Realtors were legally bound to represent the best interest of only the seller.)
Educated home buyers are now hiring a Buyers Representative. These are Realtors who work exclusively on the buyer's behalf.
The buyer agent owes full fiduciary duties, including loyalty, to the buyer. The buyer's agent work for the buyer client and has the client's best interests in mind through the entire transaction.
By law, unless your agent declares, in writing, that they represent you, they actually work on behalf of the seller of the home! All Realtors, even the one showing you homes, listening to your housing dreams and confidential financial information, work in the best interest of the seller.
There's more -- under the law of agency, Realtors must tell the seller any information that will influence the negotiations. This would include your motivation for buying the home, and how much you would be willing to pay to get it!
Using an agent who represents the seller could seriously compromise your negotiating position.
Greg & Gladys believe that an open and trusting relationship between the buyer's and their representative is paramount to the home buying process. A buyer may be shy about being open and truthful with their Realtor.
But how can your Realtor work well on your behalf if they don't have a the crucial information needed to find you your dream home?
Greg & Gladys believe firmly believe that hiring a Buyer's Representative is the smart choice for home buyers!
It is recommended that the client and the Buyer's Agent review a written agency agreement upon initial interview and sign a written agreement prior to the viewing of properties... and the best part is that most Buyer's Agent's -- including myself -- do not charge a fee to their clients. Buyer's representatives receive their compensation via the commission paid by the seller. |
