Maziar Moini Team Home Leader Realty Inc.

The Buyer Representation Agreement


Guaranteeing You the Very Best in Real Estate Service
When it comes to just about every kind of contract, signing on the dotted line makes us all a little bit nervous.

When selling a home, most people are aware they sign a Listing Agreement with a REALTOR®. There is, however, an agreement that REALTORS® ask their home-buying clients to sign. It’s an agreement that works in favour of buyers, guaranteeing the very best in real estate service.

The Real Estate Council of Ontario (RECO), a public agency formed to protect consumers and regulate the industry, introduced guiding principles mandating that REALTORS® ask their clients to sign a Written Representation Agreement at the earliest possible time.

When choosing representation, homebuyers have the option to sign either a Buyer Representation Agreement or a Buyer Customer Service Agreement.

The Buyer Representation Agreement signifies that for a designated period of time, the buyer has engaged a specific REALTOR® firm to work exclusively on his or her behalf at finding a property. The agreement confirms the REALTOR®’s commitment to make his or her best efforts for the buyer.

By signing the Buyer Customer Service Agreement the buyer acknowledges the Broker has provided him/her with written information explaining agency relationships including Seller Representation, Sub-Agency, Buyer Representation, Multiple Representation and Customer Service.

For more information on this important subject, call your local REALTOR®. The term REALTOR® is designated to those who have chosen to belong to local, provincial and national real estate associations, agreeing to adhere to a strict code of professional standards that ensures the highest levels of service and integrity. In Toronto, local REALTORS® belong to the Toronto Real Estate Board, Canada’s largest real estate board, serving more than 30,000 Members.

 


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22 Good Reasons to Use a Buyer’s Real Estate Agent


22 Good Reasons to Use a Buyer’s Real Estate Agent

1. The number one reason is the Multiple Listing Service. The majority of homes for sale are listed through the MLS, and you must be represented by a real estate agent to purchase any of these homes.

2. Our “Top of the Line Property Search” computer programs provide you with the most up to date information on a daily basis, giving you the advantage over the other buyers. See Daily Buyer Search for more details.

3. A real estate agent can draw on their years of experience and ongoing immersion in the market to tell you which homes have true value, which are over-priced, and which will have hidden costs in the long run. A real estate agent can also provide invaluable insight on the potential for return on investment.

4. A real estate agent adheres to a rigorous code of ethics. A direct buyer or seller is not so constrained. Buyers and sellers both want the protection a real estate agent can offer.

5. A real estate company’s business often comes from corporate or personal referrals. This market is unavailable to private buyers.

6. Real estate agents often have a number of contacts in the community who are interested in selling to the right buyer, but do not actually have their house for sale at the moment. Real estate agents have access to these homes, as well as similar homes through other real estate agents’ contacts.

7. Seeing homes becomes much more focused and efficient. You only to go homes that meet your criteria and you are guaranteed that the homes you are planning to view are accessible to you, as well as available for sale.

8. Private showings eliminate the possibility of a personality conflict between seller and buyer.

9. It takes skill and judgment in order to properly evaluate each home. It is the real estate agent’s job to recognize and demonstrate the home’s strong points and its features.

10. A real estate agent can select the best route to a showing and point out comparable properties for sale or sold recently. This way, you will have more of a feel for the properties and neighborhoods you are looking at.

11. Virtually every buyer has concerns which sales representatives are trained to handle. A private seller is more emotionally involved and may be less equipped to address these concerns.

12. Private sales attract bargain hunters. Any time a seller does not sell through a store or through a salesperson, they expect to get more by paying no commission. This is true for non-represented buyers, too. Why should someone do all the work a sales representative would normally do and still pay the full price? For example, if the seller is trying to save 7% commission and the buyer is trying to save 7%, now they are 14% apart.

13. Real estate professionals are trained to follow-up and negotiate with sellers. Follow-up is normally expected and does not have a detrimental effect on a buyer’s bargaining position, while a private buyer doing follow-up can seem desperate.

14. In real estate, the offers are in writing and are irrevocable. Private buyers and sellers often give verbal agreements and then revoke them.

15. Real estate agents are trained to negotiate better than a buyer often can on his own behalf.

16. Real estate agents have home inspector contacts, and lots of experience in the industry. A real estate agent can offer you advice in selecting a home inspector or can book an inspection for you.

17. A real estate agent is aware of many different ways to finance a purchase and often have reliable financing contacts, while a private buyer is on their own in finding suitable financing.

18. A real estate agent can help eliminate red tape and keep legal costs to a minimum. If you are not using a real estate agent to draw up your contracts and collect other legal documents, a lawyer will have to do it for you, and they will charge you accordingly.

19. Real estate agents stay involved with the deal until the transaction is closed.

20. A buyer will be more comfortable when a seller uses a real estate agent because the buyer knows that although a seller may leave town, the real estate agent will be there to help out with all the steps during the sale, completion, and closing processes.

21. From a buyer’s perspective, a licensed real estate representative is more credible than an owner who will have their own biases.

22. A real estate agent is trained and experienced to ensure that all important steps in the sales process are completed and properly conducted which significantly reduces the possibility of legal issues arising later.

 

Maziar Moini Broker Home Leader Realty Inc.
(416) 599-9599 x150(Office)
(416) 599-9599(Business)
(416) 888-7654(Cell)
1(800) 970-7654(Fax)

300 Richmond St.W.,
#300
TORONTO, Ontario, M5V-1X2
Canada

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