Buying or Selling a Property?
A recent report by the Canadian Real Estate Association (CREA) indicates that the Canadian housing market experienced slight dips of approximately 12% in the last couple of years as compared to the 10-year average. Keep in mind, if you’re selling a property in the next month or after that, it’s critically important to look for ways you can fetch a high sale value. In case you’re buying new property, you need to carefully opt for the right house; purchasing a home is probably going to be one of the biggest investments of your life, and you wouldn’t want to put it at risk.
There are several things you should be aware of while selling or buying a house; from housing market conditions and neighborhood trends, to property regulations and comparable prices, home buying or property selling can be an intricate process, and thus, requires a specialist; in this case = a realtor can help get the job done the right way. Here it’s imperative to mention that a realtor, unlike a real estate agent
or listing agent, is a registered or licensed broker and a member of the CREA.
Do you need to Hire a Realtor for your Property Dealings?
When it comes to selling or buying property, many people avoid hiring a real estate agent or a realtor, and prefer to do it alone.
Some may believe that selling our property on your own is a most cost-effective method, when in fact could end up costing you even more. Papers and deals that involve money, when looked over by a professional can actually save you thousands of dollars. More improtantly a realtor assists you along the entire journey, ensuring
that you get the best deal possible, as they are knowledgabe in the housing market and can help you point out points that you may have glanced over and not considered.
There are many reasons as to why hiring a realtor is the way to go.
1) They Have Better Access
A realtor has contacts with all other property agents, which means that such individuals will find a home that perfectly fits your criteria within a matter of days. Of course, realtors stay updated with listed homes and housing prices every day. Once they have made their choice for you out of a few homes, a realtor will have you visit those selected homes to make a final decision. In case you’re selling your property without a realtor, you’ll have to reach out to potential buyers using your own promotional techniques. Also, you’ll have to attend a number of calls, including scam ones, which will make the whole process a daunting task for you.
2) They are Good at Negotiation
Most homeowners or homebuyers in Canada don’t like the idea of proceeding with their property dealings in connection with a realtor; perhaps they think that direct negotiation between the parties is more beneficial and allows them to mutually agree upon the conditions while making the best deal, as opposed to letting realtors handle this. However, they must realize that a negotiation can often turn into an argument, and professionals like realtors know how to navigate such territory tactfully. A realtor will keep in mind the emotional aspects of a transaction, as all buyers or sellers have, and will negotiate based on relevant factors included. Being skilled and trained professionals, realtors can present their client case in the best light.
3) Managing the Paperwork
As mentioned above, the home buying or selling process entails plenty of work, which includes filing a number of documents. While buying or selling a property, it’s important to make sure that all the conditions included are in compliance with your country’s property laws and regulations. Since they have in-depth and thorough knowledge regarding Canada’s property laws, realtors make sure they manage your contract and conditions safely.
4) Realtors are Trustworthy Professionals
As Realtors in Canada are registered with CREA, these licensed professionals are bound by common state laws to maintain a fiduciary relationship. In other words, a realtor will act in your best interest and not their own. Furthermore, licensed real estate agents in Canada rely on referrals to build a client base, which ensures that they do their best for their clients. In some cases, where a buyer or seller decides to go through the process without hiring a realtor, seeking the help of a property lawyer or legal counsel for legal work is common. However, both the parties act in their best interest, delving them into making numerous false claims regarding the home’s condition. This whole thing makes the property dealing process a nuisance. On the other hand, hiring a realtor lets you have the assurance that only relevant factors are highlighted while strictly adhering to a code of ethics when making a purchase or sale deal. After mentioning the most important practical details of home buying or selling process, you’ll have an idea that it’s always good to have an expert when it’s about property dealing. So, if you have decided to hire a realtor for the biggest investment of your life, you need to know how to find the right realtor for yourself.
5) How to Find the Right Realtor for the Job
One of the most common questions that come to mind when you decide to hire a realtor for home dealing is, ‘how to find the right realtor?’ Well, before delving into that, you must know how to hire a realtor and sort out your expectations from the agent i.e. what you need from a realtor. As we mentioned above, realtors can assist you in property dealings with their pricing, neighborhood knowledge, and negotiation skills. With that being said, you must work with a professional who will navigate you through the entire process easily. It’s important to mention here that every realtor has different approaches, expertise, experience, and skills. Once you’ve figured out your requirements, the next step is to find a realtor who will be a good match.
6) Finding a Realtor
You can reach several realtors through online platforms or by referrals. Once you get a contact list for the best listed realtors or the most preferred ones, make sure you pick the five best ones. Remember that you can’t meet all the realtors whose contacts you get a hold of; therefore, you must narrow down the list by reviewing their portfolios, testimonials and previous ratings. Once you have selected the five best, make individual appointments, and schedule your meetings. The best way to select the right realtor for you is to conduct an interview.
What Can Happen when you Buy/Sell a Property without a Realtor?
Are you thinking about buying or selling a property without a realtor? Well, whether it’s for saving a buck or just a fear of realtors, you must consider a few things before doing it on your own. Remember that, without hiring a realtor for your home sale or purchase, you may have to deal with the following
• You will have to negotiate on your own, whether you possess high-level skills or not. As a result,
it may get you into an argument, making the process even more complicated for you.
• Selecting your dream home through pictures might be an easier task; however, researching
market trends, housing values, and other vital factors can be tedious.
• You won’t have a specialist to rely on for neighborhood trends. A realtor knows which deal can
have you thousands of dollar profits because he or she understands the future projections.
• You may not be able to comprehend seller disclosures entitled by the property laws of the state.
• You may pay a hundred or maybe a thousand bucks more for closing costs; the other party might
make you pay for everything.
• You will have to manage and go through piles of paperwork; no matter whether you understand
every stated condition or not.
• Without a realtor, you will have to find a mortgage on your own. That means, you won’t be sure
if your lender has a good reputation for closing on time.
Whether you’re buying or selling a property, remember that doing it all alone not only increases the risk of making ‘a bad deal’ but also costs you a lot. Therefore, it’s always good to hire a realtor when buying or selling a home; you can always trust a realtor (registered and licensed agent by CREA). A realtor ensures that all the work included in the process is completed competently and professionally.
If you want my help you can reach me by visiting www.mirandahomes.ca
The 7 Questions to Ask a Realtor Before Hiring
Oftentimes, you may not want to interview a realtor; maybe because you have a perception that a realtor
is registered with CREA, and thus, probably has enough knowledge and experience regarding the field.
However, that’s not always the case that a realtor has all the skills and expertise you’re looking for.
Therefore, it’s crucial to figure out the right one for you; specifically, that would be the one who can make
the best deal for you. For that, we have composed a list of questions that you can ask a realtor to ensure
that they have enough experience and knowledge about the real estate market of Canada.
1) How long have you been in business and how many transactions you did last year?
Although experience in years doesn’t guarantee that someone is a great realtor, it’s undeniable that
much of this business is learned while on the job.
2) Do you have any experience working with first-time home buyers or sellers?
In case you’re selling or buying a home for the first time, this question will help you select the right realtor
for you. Of course, it’s crucial for first-time home buyers or sellers because they have little or no
knowledge regarding the process. Therefore, they will need a realtor’s complete assistance until the deal
3) What neighborhoods do you usually work in?
Whether you’re selling or buying property, when you ask a realtor about which neighborhoods they deal
in, it will give you an idea of their expertise, approach, and experience. In both cases, whether they work
in multiple neighborhoods or just in a few, you’ll be able to make a selection as to the one who is most
appropriate for you.
4) Can you provide a list of your references?
You can ask a realtor to provide you with a list of references including their previous clients or fellow
realtors. Once you have gotten the list, contact them and ask about the realtor’s expertise.
5) How can I reach you promptly when I have a question?
Many people often forget to ask some important questions in a meeting and try to reach a realtor later.
It will sound more professional if you ask a realtor during a meeting about the time and day when you can reach them for your queries.
6) How often should I expect to hear from you?
Of course, a home buying or selling process is not a matter of a few days; it may take a couple of months
or even more than that. To make sure that the entire process flows smoothly, it’s better to ask your realtor
as to when they can get back to you.
7) Will you provide advice about future home improvement?
While interviewing, if you find a specific realtor to be the perfect one for you, don’t forget to ask if they
can continue to work with you for future property deals.