Buyers "In the Know"

14 April 2015

With the real estate market as hot as it is right now, many buyers are becoming frustrated in their searches and spring has only just begun.  It is not a buyer's market!  

You don't need a realtor to find or buy a property.  If you feel sufficiently savvy and have the time, it's not that hard to check MLS or do the legwork driving around on the weekends looking through open houses or calling on FOR SALE signs, then to work with the seller's agent to put together your offer.  This gets more challenging if you are looking outside your present neighbourhood just because you may be less familiar with the market.  Whatever you do, you need to be thoroughly informed in order to look after yourself properly.

How can a buyer's agent help you "win" in your search?

  •      Licensed realtors already know what's available on MLS and elsewhere.  Our work day involves making sure we are aware of what is new on the market, what has had a price reduction, what has sold or sold conditionally and so on.  We have the time.  That is what we do.
  •      Realtors know the value of what's on the market--as far as it is determinable.  We have been following the market and know what has sold (not just this month, but usually over a long time span) and for how much so that you don't over pay by mistake.  We'll check the latest actual sale prices for you, so you aren't relying on rumours or list prices to try to guess how much you should offer.  If your realtor really knows her community well, she may know the homes and area to a level of detail that just can't be readily looked up anywhere else--the history of the homes, quirks of the neighbourhood and so on!   A well-prepared buyer needs a full market comparison in order to buy well.  
  •      We share new listings within our brokerages immediately (and sometimes, upcoming listings), so you can get the heads-up while the MLS system is still processing them.  This can be very helpful to buyers in a hot market, especially if you have the advantage of a brokerage with a larger number of very active salespeople. 
  •      Often, we know which homes that are not on the market either are or will be coming available.  This is because we know our communities from the perspective of our number one passion:  real estate!  We talk to people and stay focused on all of the homes people are planning to sell, not just the ones that are currently being marketed.  This fact alone can represent significant additional opportunities for buyers.
  •      In some brokerages, we get ongoing training that keeps us up to the minute on new issues in drafting, the marketplace or the community that may affect your decisions
  •      We are familiar with issues that buyers need to look out for, in our local area and generally, and we have training and experience drafting clauses to protect you properly.

Could these advantages help your search?  The Ontario Real Estate Association has prepared a short and sweet brochure called "Working With a Realtor", designed to (among other things) protect buyers by informing them of the different relationships they can have with a realtor.  Choice empowers you, so I recommend having a look at that brochure.  Click here and scroll down to view.