Buying your first home is one of the most complex transactions you may ever undertake. Your first step involves deciding how you will approach your home search. Who will you work with throughout this process, and how will you work with them?
As a buyer, you have a choice in representation. Most buyers today choose to have a RE/MAX agent represent their interests in a real estate transaction.
This is also known as Agency Representation (or fiduciary representation), which simply means that the agent you hire is legally bound to represent your interests. This involves the highest standard of care and extreme loyalty to you, the “client.”
Some agents will work with you as a “customer,” which carries a different level of responsibility. Most real estate professionals require a client relationship because it allows them to provide the full range of services that buyers need and deserve. Your agent will discuss representation with you and will request your commitment in writing for this level of service.
Tips to help you select the right real estate professional:
- Do your research, and find someone you feel comfortable working with
- Ensure the person you select is someone you trust, who listens to you, and respects your views
- Make sure they are knowledgeable and know the current real estate market conditions
- Don’t be afraid to ask them about the experience and past results
- Choose someone with a good reputation. At RE/MAX, client and agent referrals account for 70% of business.
- Talk to family, friends, and colleagues who have gone through the home buying process to see if they can recommend anyone.
- Look for an agent who is experienced and knowledgeable in your market, but not so busy that they can’t give you due attention
- RE/MAX agents that carry the ABR® designation (Accredited Buyer Representative) are skilled in understanding and responding to the specific needs of buyers. Consider looking for an agent with an ABR® designation before you look for a home and you’ll be served, not sold.
It’s important to remember that the right agent will ensure that your interests become their interests. That’s why we’ve created an Agent Interview Checklist, outlining all of the questions you should ask in your first meeting with a potential agent.
You can visit remax.ca to get in touch with a local RE/MAX agent who will help guide you home by assisting you through each step of the home buying process.