Why buy with a real estate broker - Key information
Why deal with a broker for a real estate purchase
The purchase of a property is without a doubt a very important step in the life of many people. Visits, offers, counter-offers, negotiations, legal paperwork, etc., the purchase of a house is a complex process that requires a lot of time, research and energy.
Indeed, finding the property that will make your heart beat faster while meeting the criteria, desires and needs you have set for yourself can be a considerable task. Working with an experienced real estate broker who is an expert in the areas you are considering for the purchase of your property can be a smart move that will not only reduce your mental load, but also put part of your real estate project in the hands of a seasoned expert and enthusiast.
A well regulated profession
It should also be noted that real estate brokers in Québec hold an official permit issued by the Organisme d’autoréglementation du courtage immobilier du Québec (OACIQ), which provides them with guaranteed expertise, in addition to requiring them to abide by strict rules governing their profession and protecting you as a consumer.
Project of law 5
Finally, with Bill 5, amending the Real Estate Brokerage Act, a broker can no longer represent both the seller and the buyer. This double representation could indeed lead to certain problems, notably major conflicts of interest. With the amendment of this law, the buyer benefits from greater protection and guaranteed loyalty on the part of his broker as well as a better defence of his own interests.
But in concrete terms, why do business with a real estate broker for a purchase?
1. As an expert in the real estate market, working with a real estate broker will allow you to buy the property you are looking for at a fair price, according to the state of the market, thanks to the comparative analysis of the property carried out beforehand by the broker.
2. A real estate broker working with a team of industry experts will also be able to assist and guide you in completing the various legal documents required to purchase (and sell) a property, including the Promise to Purchase, the Seller’s Declaration and the Notarial Act.
3. In the same vein, your real estate broker will be able to accompany you and advise you with the professionals you will meet along the way, notably the mortgage broker, the inspector and the notary, in addition to having a negotiating strength that will set you apart from other potential buyers.
4. Your real estate broker’s references and contacts, regarding the professionals mentioned above, could also be useful to you. Indeed, depending on the sector you are looking for, your broker will be able to recommend experts whose specific knowledge will make the difference (especially regarding the inspection of the property) in the buying process.
Finally, doing business with a real estate broker is free for the seller since the fees paid for his services are assumed by the seller of the residence the buyer is purchasing (to pay for the services of the listing broker and the collaborating broker. The amount of the commission is included in the Promise to Purchase, which is signed by both parties to the transaction).
Are you looking for your dream property? You wish to sell your home to start a new chapter in your life? Do not hesitate to contact one of our real estate brokers, it will be our pleasure to accompany you and guide you through the different steps of your process!
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