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(Photo credit: pallspera.com/Creative Commons
Making the decision to buy a home is an exciting time for any adult since it'll probably be the biggest purchase you'll ever make.
A real estate agent
can be a great help in this process and an important asset to helping first-time homebuyers navigate the homebuying process and help ensure a smooth transaction.
But if you're looking for your first home, you might not know what to look for in a good real estate agent.
The first thing you should do is ask for recommendations from friends and family. If they've recently bought a home, they can give additional insight into how good the real estate agent was in helping them buy their property, whether they got back to them promptly or whether they were full-time or part-time real estate agents. Also, if you have a certain neighbourhood or area you want to live in, you'll benefit the most if the real estate agent is familiar with it since they could be able to share housing market info about that area or sellers who haven't put their home on the market yet.
Once you've narrowed down the list of potential candidates, you could attend one of their Open Houses to gain an inside look into how they operate, which can usually be found by browsing their website or social media.
Here are some additional questions you should ask your potential candidate:
- Do you specialize in a certain type of property?
- How long have you worked in real estate? How well have you done? Can you provide references? Make sure to take the time to thoroughly interview the references they provide.
- What is your commission rate?
- How familiar are you with the area I'm looking in? What homes have you helped buyers purchase in the area?
- How frequently do you send listings for buyers to look at?
- How do you typically handle buyers? Some homebuyers may want their hand held through the purchase and need explanations on a home deposit or closing costs, while others may want to have more independence when shopping for a home.
With a competitive real estate market, some agents or brokers may offer a commission rebate to buyers. If the agent you're using says they can offer you a rebate, make sure to get it in writing, along with any terms attached with it. Inquire about how the rebate payment will be received, but be aware that this won't change the purchase price of the property, along with the closing costs, you're looking to buy.
Any homebuyers should be aware that when choosing a real estate agent to help you find a property to buy, you may be asked to sign a procuring cause on a buyer's agency agreement. This mean that you've declared that the agent made your home purchase possible, which means they're paid a commission when you buy the property. Think carefully if they're the person you want to work with since it will be difficult to separate if you change your mind later on. You may also want to ask or learn the details of any escape clauses with the agreement if you're unsatisfied with the service your agent is providing.
If you're unsure whether you qualify for an HST housing rebate
, Rebate4U can assist you in determining the amount you may be eligible for. Rebate4U
prioritizes offering clients the most professional and high-quality service in obtaining rebates for their new and renovated homes - whether it's your new home or an investment. We are proud to offer our clients the most personal and attentive service, and we make sure that all of our clients are 100% satisfied.