Contrary to what many may believe, it is pretty difficult to function as a real estate agent. A real estate agent not only has to look for the listings, but also find buyers. Moreover, they are only paid when a deal closes and this may take several months since he or she had begun work on a particular project. Besides all these, often a real estate agent is also required to reimburse a broker for a desk, a telephone and some of the company's marketing materials. If you are a real estate agent, you will be required to pay from your pocket to fund everything right from the business cards to your website. Worst still, there is no paid holiday or pension for a real estate agent.
Hence, it is little surprising that the real estate business in Canada draws some of the most authentic and bright entrepreneurs. These people not only have poise in their capabilities, but also the guts to start off on their own without any safety measures to fall back upon. People who venture out as real estate agents and work hard and obtain success are able to make a fortune for them as well as have a large team of personal employees. On the other hand, people who are unable to connect the seller and buyer together fast enough eventually fail in this business.
There are numerous people in Canada who consider real estate agents to be mere sales persons and not people who work to facilitate a real estate transaction. There are also many people who consider engaging a real estate agent to sell their property as an additional expense. They try to sell their property on their own believing that this would save them of tens of thousands of dollars to be paid as commission to the real estate agents. Many times, they are wrong and just the opposite is true. People who adopt a 'do-it-yourself' approach while selling their property usually suffer losses, as they are unable to attract the interest of most extensive buyers or draw the largest number of potential buyers as well as the best price for their property without the help of real estate agents.
Now, if you take the case of the buyer, he or she cannot be wiser by not using the services of a real estate agent to find them their desired home and also negotiate a deal on their behalf. It is important for the buyer to know that the service of a real estate agent is absolutely free for them because the seller has to pay the requisite commissions. Frankly speaking, it is utterly foolish to buy a house without the help of a real estate agent, unless some people find it enjoyable to spend some weeks on doing things that they are not adept doing and possibly mess up the entire thing.
Hence, it is advisable that if you are looking to buy a house, you first look for a proficient real estate agent and be trustworthy to him or her. Never try to buy a house on your own from the market when you have engaged the services of a real estate agent and he or she is working on the matter on your behalf. For instance, never attend any open house without declaring that you have an agent. If you do so, you might possibly put at risk the commission that the seller needs to pay your agent for the services you are receiving.
When you have selected an experienced and proficient real estate agent, he or she will generally want to know the kind of property you are looking for, the price range you are able to afford as well as the kind of locality you prefer. Next, you may expect your agent to search for the right property for you by going through the Multiple Listing Service (MLS) system to launching an extensive street-by-street survey of property owners who may want to sell their residential real estate. In addition, your agent will also discuss with other agents regarding new or probable listings and keep you informed regarding the most up-to-date market happenings as well as available properties. This will enable you to always keep a tab on what is coming up on the market.
Your real estate agent will attend the industry-only open houses that are organized when a listing first comes out and provide you with a feedback on the pre-screening process or the procedure before the selection. In addition, you will also receive comparative prices of properties being sold and bought in your preferred locality. The agent will keep you abreast regarding the prices at which same type of homes have been sold or bought during the previous few weeks or months. Such reports will be accompanied with a history of the sales in a particular area enabling you to realize the assortment of asking prices as well as the usual sale-to-listing quotient.
In addition, the agent will be aware of valuable information, such as the period of time a particular property has been on the market, the conditions of the seller as well as the probable incentives concerned. These are all helpful information that will enable you to decide on your tactics and approach as well as the type of offer you would be making to the seller. Without the help of your real estate agent it would be virtually impossible to collect such information vital during your home buying process. In addition, your agent is possibly the best person who can provide you with precise information of the locality of your desired home - things such as population mix, transportation, schools, retailing as well as the prospects of development of the area in future.
When you have focused or selected a particular property, your real estate agent will visit the place along with you, evaluate the condition of the locality and weigh it against other candidates. In fact, it is your real estate agent who will actually be preparing your offer in an appropriate and in a manner that is lawfully requisite. Once this is done, your agent will present it before the seller, explain it to him or her and fight for it with the seller's agent before bringing back the offer signed by the seller and/ or with any modifications. Your real estate agent will also counsel you on the demands or claims made by the other side and recommend you the manner in which you should respond. In addition, if you so desire, your real estate agent will also assist you in finding a viable mortgage. He or she will also help you to look for an experienced home inspector and be present while the inspection process takes place. In addition, your agent will also help you in getting a mover or contractor when you are shifting home.
What is most important is that you do not have to pay any of these services being provided by your agent, making the entire process one of the best consumer contracts possible anywhere. Moreover, in the event you want to sell the property after occupying it for a substantial period, who else could help you better than the person who had first assisted you in purchasing the property. It is your agent who probably realizes all the personal details why the place is good to live in. Having discussed all this, it may be concluded that the real estate agent is the most vital person in your complete real estate familiarity.
Do you really and honestly believe that you would able to achieve all this on the Internet if you were trying to buy a house by visiting the websites of the agents or brokers or going through the online classified advertisements? If you think you can accomplish the same from the Internet, just forget the idea. In fact, there is only one effective and efficient manner by which you can buy real estate and that is with the assistance of a real estate agent.
All said and done, the moot question is how you can find a good real estate agent. Well, it is as simple as looking for a competent and trustworthy financial advisor. In other words, this means that you can find a great agent by shopping around, seeking recommendations from friends and relatives and talking to numerous people on the subject. Nevertheless, below we present a few guidelines that would be of immense help when you are trying to find a good real estate agent.
It is important to remember that your agent will serve as your eyes and ears when you are moving to an unknown city or locality. He or she will represent your best benefits as well as parley on your behalf. Hence, you ought to be very careful while selecting your agent and when you have already selected one, remember that you need to remain trustworthy to him or her during the entire house buying process.