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The amount of time, effort and energy spent into selling or buying a home can be extensive and if you do it by yourself, and not with the assistance of a REALTOR® or agent, you may run into the risk of losing money and getting a less-than-favourable deal. REALTORS® and real estate agents have years of education and experience and help you not only make a solid and responsible financial decision, but also protect you from the many risks currently existing in the murky waters of the real estate market. In addition, many consumers don’t understand the differences between a REALTOR® and a real estate agent. A REALTOR® has gone through extra training and education, as well as adheres to a strict code of ethics. But when you buy or sell a home, make sure you get the most out of this monumental occasion and use a real estate professional to guide, protect and assist you.
Buying or selling without a REALTOR® or a real estate professional can have negative repercussions. For one, it may take you longer to sell your home, which may result in wasted time and lost funds. If you’re working full-time, the ability to sell a home is curtailed and you may have to take time off work or have an extremely tight schedule to hold open houses. As well, you may feel incredibly uncomfortable by letting just anybody into your home, and you may not know how to protect yourself against theft or fraud. A REALTOR® can have effective open houses and can detect any suspicious activity.
Most self-home sellers or buyers are not real estate professionals, so you’re obviously limited to your own knowledge and ability. REALTORS® understand the dense paperwork, the legal documents and what is and isn’t a good deal. Working with such a professional would only benefit your chances of achieving a sale or purchase. Without the help of the REALTOR® you may waste hours researching and learning all the details of the real estate market.
The answer is quite obvious: to the get the best possible deal that you paid for. Especially for first-time home buyers, not using the services of a REALTOR® or agent can put your purchase in jeopardy. Of course there is the slight chance that you can come out of a deal by making some more money, but there are many risks in trying to do that, and you may end up using that money you would have made on research and time off work. Typically, most homes sold by REALTORS® or real estate agents will be priced higher, therefore offsetting some of the commission. If you were to sell by yourself, you may not know the market as well as a REALTOR® and you might end up pricing your home inaccurately.
For buying a home it’s still extremely beneficial to acquire the assistance of a REALTOR®. They can, without a doubt, optimize your buying power and increase your options in the market. They have the access to the Multiple Listing Services (MLS®) and can help you find that home you’ve always wanted. With their extensive knowledge of the market, REALTORS® can also help you find which house is appropriate for your budget by examining your financial background. They can also help you with the mortgage loan qualifications and can help you understand the taxes of the transaction.
Along with these qualifications, REALTORS® also possess the skills of negotiation. They can negotiate effectively with the seller and help you negotiate so that you can avoid any problems when you purchase your home. Having the REALTOR® by your side during the negotiating process can make sure you get the best deal and that you’re not taken advantage of. When you hire a REALTOR®, your knowledge on the real estate industry will just increase, therefore resulting in a better deal for you. And remember, they do follow a strict code of ethics which will protect you even more during your search for that new home. The REALTOR® will let you know of everything and will work to their best ability to close a sale for you.
Trademarks owned or controlled by The Canadian Real Estate Association. Used under license.
The information provided herein must only be used by consumers that have a bona fide interest in the purchase, sale or lease of real estate and may not be used for any commercial purpose or any other purpose.
Information is deemed reliable but is not guaranteed accurate by TREB.
Toronto Real Estate Board - IDX Last Updated: 7/22/2019 8:11:47 AM