by Sheryl Campbell
Maybe you just received a promotion at work or have reached a milestone in your personal financial planning. Whatever the reason, you have decided that it is time to own your residence and reap the benefits of homeownership.
Whether clients are first-time buyers, families moving to a bigger home or people downsizing to a smaller property, the advantages of using a REALTOR® are priceless. When you have a REALTOR® representing you, you can be certain that all of your interests are protected.
And as a purchaser, you pay no fees to use a REALTOR®’s skill and knowledge in your quest for a home that is right for you. Not only do you reap the benefits of using a real estate professional, you essentially receive top-notch service and expertise for free.
When you think of it, would you act as your own lawyer, doctor or accountant — if their services were provided without charge? As good a question as that is, there are additional elements that encompass very clearly why using a REALTOR® is the best decision you can make.
Within the legal and ethical parameters of the REALTOR®-client relationship, REALTORS® are committed to serving their client’s best interest whether they are buyers or sellers. Now this doesn’t mean that REALTORS® never act as dual agents, representing both the buyer and a seller in a real estate transaction, but in this scenario REALTORS® must ensure that they take no action that is adverse or detrimental to either party's interest.
Also, they must make a continuous and good faith effort to find a buyer for the property and a property for the buyer, and must adhere to strict confidentiality while representing both clients. Further, the REALTOR® is legally obliged to disclose all known
material defects about the real estate property.
As mentioned, it is not unheard of for a buyer and seller to use only one REALTOR®, but many real estate clients are more comfortable having their own REALTOR® represent them. The business relationship and structure works best in this manner, and clients are certain to feel more secure. And once again, purchasers pay no fee for a REALTOR'S® service.
What a REALTOR® does
for clients who are purchasing a home
As a buyer, a REALTOR® walks you through the entire process in a real estate transaction. Your REALTOR® explains all the intricate elements that are part of purchasing real estate, from ensuring that the necessary financial requirements are in place to negotiating any important areas in the transaction.
REALTORS® put their clients at ease, give valuable advice and direct them to other professionals whose services are necessary in a real estate transaction.
A REALTOR® helps his client determine exactly what they want in a property and works to find homes that fit those needs. Once a buyer’s REALTOR® shares all the pertinent information about a property with the client and the client is satisfied with the property, they work together to decide upon an appropriate offer. This decision benefits from the REALTORS® professional knowledge about comparable home values and sales that have recently taken place.
Working with a professional REALTOR® ensures your offer is on par with the property’s value and will likely be accepted.
Purchasing real estate is one of the most substantial and important investments people make in their lifetime. Wouldn’t you rather have a REALTOR®
offer you their service to make that transaction more comfortable, secure and reliable? This is exactly what REALTORS® provide when their clients purchase a property.
(This article was originally written by Sheryl Campbell for the Edmonton Real Estate Board.)