Buyer Representation or Customer Service?
As a buyer, you have two options when it comes to working with a REALTOR® whether you are buying a resale home, or new from a builder. You need to understand the difference between buyer representation and customer service to ensure you are making an informed decision when choosing which method works best for you.
The first option you have is to enlist the services of a REALTOR® to act on your behalf as a Buyer Agent. As defined by the legal principal of agency, this agent will be responsible for looking out for your own best interests at all times. Your buyer agent will provide you with a series of valuable services and at all times throughout the process they are working for you. From identifying possible properties, to negotiating the best price, the expertise of your buyer agent and their network of professionals will be at your fingertips, getting you the information you need to make an informed decision. And the best part is – the services of a buyer agent are almost always completely free to you!
The second option you have is to control the process yourself and use the services of the various listing agents of homes you are interested it. When you find a home that catches your eye, you call the listing agent to get more information and to arrange the showing. The benefit of this option is that the listing agent will be very knowledgeable about the property, and will likely be able to answer many of your questions on the spot. What’s important to note in this scenario, however, is that the listing agent, under the law of agency, is working for the seller, looking after their best interests at all times. Although they must remain fair and honest with you, they are always trying to get the best deal for their client – the seller.
For more information about agency, visit www.howrealtorshelp.ca.