Why Work With a Buyer Agent to Buy a Home?

The benefits of working with a real estate agent to sell a home are well-documented. Under the guidance of an experienced expert, an existing homeowner can often earn a higher price with more favourable terms than if they chose to represent themselves. This scenario is also exactly why you want to work with a buyer’s agent to buying a home. If you choose not to, you will likely be up against an experienced negotiator. If they are truly an expert in the industry, the odds of you getting a fair deal become much slimmer. To buy a house at the lowest possible price, you need expert representation of your own.

Curious about what to look for in your next home or what the buying process will be like in today’s market? Book a meeting with us today, and we will walk you through the steps.

What Is a Buyer’s Agent?

A real estate buyer’s agent is simply a Realtor® who works on behalf of the buyer to uncover potential listings and negotiate the terms and price of the purchase. The agent may or may not specialize in buying homes, but one thing is certain: they are there to protect their client and ensure they get the best possible home for their budget.

In Canada, it is almost always the seller who pays real estate commissions. Even in an FSBO (For Sale By Owner) transaction, the existing homeowner still pays most of the time.

As a buyer, it simply doesn’t make sense to go in without any guidance or representation. Working with a buyer agent typically costs you nothing out of your pocket, and can save you a world of headaches—not to mention money—when negotiating the price of your home.

Searching for houses for sale in Etobicoke? Our featured listings may have your perfect dream home.

What Does a Real Estate Agent Do for a Buyer?

The process of buying a home may seem simple when you think only of the big picture, but there are a lot of finer points to understand and address along the way. A dedicated buyer’s agent is there to help at every turn. It begins with fine-tuning the type of home that you want in the first place, and then uncovering even hard-to-find listings that might be suitable options.

A real estate agent who is well-connected and established in the area works with other agents and brokerages, and often gets premium access to upcoming listings. If you’re working on your own, your options may be more limited, especially in a market with low inventory or a lot of competition. The availability of listings is just one of many advantages of working with a buyer’s agent.

As beneficial as it is to have more listings open up to you, guidance and representation are even more critical. Once you sign a Buyer Representation Agreement, your real estate agent and their brokerage now have a fiduciary duty to represent your best interests at all times. Generally speaking, this means working hard to find the right house at the best possible terms that the market will bear. In fact, your real estate agent needs this contract to be able to show you homes in the first place.

Are you looking for more tips to get the best value out of the Etobicoke real estate market today? The related reading below will help you along your journey:

How to Choose a Buyer’s Agent

Understanding the benefits of working with an experienced Realtor® to buy a home is one thing. For the best results, it’s critical that you have someone to work on your behalf right from the beginning, well before you begin viewing properties in person. If you start by dealing with the listing agent, it can create a conflict of interest when you get in touch with a buyer’s agent.

The next question is: how do you find the right expert for you? Plenty of licensed agents might be available; however, someone who lives in and works in the community you have your eye on is usually the best fit.

Who cares more about your happiness and satisfaction with the outcome when buying your new home? An expert who lives in the next city or five hours away—or someone whose child is on the same hockey team as your child?

Do you want a little background knowledge on the real estate market before buying your next home? The posts below will help to bring you up to speed:

Smart Interview Questions to Ask Your Agent

Ideally, you want to choose a Realtor® with the perfect balance of industry expertise and personal dedication to a positive outcome. The following questions can help you find an experienced professional who will go to great lengths to ensure your transaction is successful:

How long have you worked in the area, and do you have any client testimonials? Before signing a Buyer Representation Agreement, you want to know what level of experience a Realtor® has; more importantly, you want to know about their track record.

Do you specialize as a buyer agent, or do you work with buyers and sellers? Some agents will work exclusively with one or the other. However, someone who works on both sides of the transactions often has a deeper understanding of how negotiations work. This can come in handy when you are trying to secure a home for a fair price in a busy market.

What is your favourite part about living in this neighbourhood? When someone has lived in an area for a long time, they will know it like the back of their hand. Asking about their favourite restaurants, shopping districts, or parks can showcase their local expertise.

Will I be working with you directly? This is essential, especially when you are considering a larger brokerage. You might think that you are working with the person whose face is on the billboard, but once you sign the agreement, it turns out that your agent is someone you have never heard of.

Bringing All the Pieces Together

Choosing a knowledgeable Realtor® involves much more than a single factor. It isn’t just about the real estate market. It’s about having someone in your corner who shares your goals and who will work tirelessly to make your home-buying dreams come true.

If you want to know more about how our team can help, get in touch today. Our doors are open!

Our Etobicoke real estate agents are here for you from start to finish and beyond. Reach out today at 647-282-7653 or email contact@sileckythompson.com with any questions or to get started.