Benefits of a Realtor

Buying or selling a home is likely to be one of the most important financial decisions you will make.  That’s why it makes sense to have a trained, knowledgeable professional who specializes in your area representing you and giving you expert guidance throughout the real estate transaction.

Benefits of a Realtor When Buying a Home

  • A Realtor can help you find homes that are currently on the market via the Real Estate Board’s database, as well as “hear say” of exclusive listings that are not marketed on MLS or elsewhere on the internet
  • A Realtor can help to differentiate between the various types of homes on the market…i.e., condos vs. houses as well as the pros and cons of the era in which each type of condo/house were built.For example, do you know which era of condos are prone to be leaky or which era of houses may or may not have a rusting oil tank buried in the yard?
  • A Realtor can look up recent SOLD homes as well as provide you with the most recent market statistics, so that you can feel confident that you are offering a price that is to your benefit.
  • A Realtor can recommend the appropriate “subject clauses” and “terms” for your contract to protect your best interest and ensure that there are none or very few potential “discrepancies” between you and seller.
  • A Realtor can recommend other services you might need, such as financing, home inspectors, movers, etc.
  • A Realtor will ensure a smooth administrative process to the closing of the deal.

In a nutshell, a Realtor can help focus your home research, save you money, and give you confidence in your purchase!

Benefits of Realtor When Selling a Home

  • A Realtor can help you do research on the current housing market in your neighbourhood to help determine a selling price that will gain attention from the public
  • A Realtor can recommend small things you can do to improve the appeal of your home.
  • A Realtor can market your property in various ways to make sure all potential people looking for a home like yours know that it’s available.Traditional marketing such as signs, flyers, open houses and networking with other Realtors, as well as internet marketing should be part of the package.
  • A Realtor can professional and knowledgeably showcase your home at open houses and private showings, to eliminate the awkwardness of you having to show the property yourself.
  • A Realtor can provide on-going feedback, such as internet statistics, and general comments from the public and other Real Estate professionals regarding your home’s standing in the market.
  • When you do receive and offer, a Realtor can do market research to help you determine the price and terms you should reasonably accept in the sale of your home.
  • A Realtor will ensure a smooth administrative process to the closing of the deal.

The Agency Relationship with your Realtor

Realtors in British Columbia work within a legal relationship with their clients called Agency.  Realtors and their Brokerage are legally obligated to protect and promote your negotiating position as if it where their own.

The BC Real Estate Association has a pamphlet called Working with a Realtor which explains how your Realtor and their Brokerage office are ethically and legally obligated to you within the Agency Relationship.  Your Realtor is required to go through this pamphlet with you and explain it in detail. Here are the 5 obligations of your Brokerage/Realtor as per the pamphlet:

1.) Undivided loyalty.  The Brokerage must protect the principle’s negotiating position at all times, and disclose all known facts which may affect or influence the principle’s decision

2.) To obey all lawful instructions of the principle

3.) An obligation to keep the confidences of the principle

4.) To exercise reasonable care and skill in performing assigned duties

5.) To account for all money and property placed in a Brokerage’s hands while acting for the principle

Your Reaponsibility as the client/principle is as follows:

1.) Carefully read all documents and understand what you are signing

2.) If you need special or expert advice, seek other professionals such as lawyers, notaries, accountants, home inspectors, contractors, engineers and surveyors.