Categories
RSS

Buyer's Representation: When is it right for you?

Helping people purchase homes is my specialty yet there are a few things that always come up when dealing with first time home buyers.  One of these things is buyer’s representation.  I get asked all the time “why should we have a buyer’s agent?’ and it is a good question.  Most of the time there is a Realtor representing the home so why not just use them? I am in the industry so the answer to me is clear but I will try and give you my best reasons why I think you should have your own agent for your home purchase.


1. Individual representation

When you see a house you like, whether that be online, at an open house or driving by a sign there is usually a Realtor representing the sale of that home, the Listing Agent.  What you need to know is that the Listing Agent’s initial duty is to the person or persons selling the home.  If you approach the listing agent and ask them to represent you they now have 2 choices: one is to treat you as a customer; and two is to treat you as a client.  If the agent chooses route one then they are still acting in the best interest of the Vendors selling the home and not actually working in your best interest. They may assist you and do owe you honesty and integrity in their dealings, but at the end of the day their loyalty is to the Vendor.  If they choose option two the problem then arises that the agent is now representing both parties, and how easy is it for them to work in the best interest of one party without harming the other? The answer is it’s not simple.  The agent almost acts as mediator between the two parties to come to a mutual agreement. This is one reason why I would recommend picking your own agent before you take interest in a property.


2. Better purchase price


I am asked all the time:  “won’t I get a better deal on the home if I work with the listing agent?”  The answer is almost always no.  If a home is on the MLS there is already a contract signed with the vendors that agrees to pay a buyer’s agent from the proceeds of the sale.  If you decide to purchase through the listing agent all that means is that they receive both the selling and buying commission of the sale, yet as you can see from point 1 that it does not necessarily mean they are representing both sides in the best way possible.  Your best chance of getting a better deal on a home is to have your own agent who is a skilled negotiator and knows the market.  They can fight for what you want.  There is no cost to buyers for using their own agent.


3. Do I need to sign a contract to buy?

This one is a bit trickier as some provinces will not allow people to purchase a home without having what is called a “buyers contract”.  What these contracts do is tie you to a single agent for a home purchase.  Now you may ask why, and the honest answer is: to protect yourself.  You can meet with and interview any realtors you want and if/when you find someone you like you can choose to sign a contract.  This will contractually obligate the agent to help you find a home.  These contracts are not required but IMO are highly beneficial.  Any agent with a signed buyer’s contract is going to work hard to get you what you want.  If you are just seeing things with multiple agents willy nilly, then it is harder for any of them to take you serious and really get you where you need to be for your purchase.


4. Second pair of eyes

Charting the waters of a home purchase can be a daunting and there are a lot of things to look for.  To most people, a home purchase will be the largest purchase in their lifetime.  Yet, we often make these buying decisions in a matter of hours.   Usually people have 1-2 showings before putting in an offer and maybe have a home inspection after that.  That’s it.  Maybe 4-5 hours for something you are going to live in 24/7.  Choosing a buyer’s agent will help you see things you may not think about.  While you may be looking at the sizes of the rooms, the colours, or the layout I will be looking for the potential problems and things that you may overlook.  You have to remember that you are looking at a home and sometimes that emotion can blind you from the necessary diligence needed when going through a home.  Until it is your home it is a house and I will treat it as such.  I will be brutally honest about the flaws, the potential issues, things that need to be fixed.  In any given month I am touring anywhere from 50-70 houses.  I know what to look for and how to write contracts that keep you covered.


I truly think that every person when buying or selling a home should have their own representation from a licensed Realtor.  The benefits to you for protection, knowledge and experience can only be given in its full potential from your own Realtor.  If you have any questions about anything you read above or want to chat more about how a Buyer’s agent can help you, please reach out, this is my specialty after all!



Buyer Representation Agreements

#AgentLogan


Logan Queen

Tel: (204) 226-1261
Email: Logan@JenniferQueen.com

Read
Categories:   #AgentAmy | #agentAshton | #AgentLogan | 48 Hour Time Clauses in Winnipeg Manitoba, | 55 plus condos for sale winnipeg | agent | agents | airbnb winnipeg | basement flooding | benjamin moore | best agents | best real estate agent | best real estate team | best realtor | best realtor winnipeg | best realtors | best winnipeg realtor | bidding wars | bidding wars in winnipeg | bridgwater | brookfield relocations | buyer representation | buyers | Buyers, Rent, Realtors, Winnipeg | buying a condominium | buying a home | buying a home in winnipeg | buying a home with a pool | buying a house | buying in winnipeg | buying winnipeg | children activities | client appreciation | closing costs winnipeg | colouring contest | condo for sale in south winnipeg | condos in winnipeg | corona | Corona Virus | Coronavirus | cost of buying a home | country living | covid-19 | documents for selling a condo winnipeg | downsizing in Winnipeg | exclusive listing winnipeg | exclusive listings in Winnipeg | fair square | fairsquare winnipeg | families helping families | faq | financing conditions | First Time Home Buyers | first time home savings account (FHSA) | for sale by owner | for the kids | foreign buyer ban | Fort Garry | Fort Richmond | Giving Back | Goal setting | holidays | home buyers | Home buyers winnipeg | home buying | home buying tips | home buying winnipeg | home maintenance | home ownership | home ownership winnipeg | home sellers | Home sellers winnipeg | home selling | homes for sale | HomesForSale | house hunting | house hunting trip winnipeg | houses with pools | how to buy a home | interest rates winnipeg real estate | Investing in Property in Winnipeg | investing in winnipeg real estate | is a pool a good investment winnipeg | lake front properties | life lessons | listings | living in winnipeg | living on the red river | luxury homes | luxury houses winnipeg | Luxury Listings in Canada | luxury real estate in winnipeg | Luxury Realtor in Winnipeg Manitoba | luxury realtor winnipeg | manitoba | market predictions | mls | motivation | moving to the country manitoba | moving to winnipeg | pandemic | Permits in winnipeg | pool homes winnipeg | pools in winnipeg | purple bricks | queen team | real estate | real estate advice | real estate agent | real estate agents | real estate family | real estate in Manitoba | real estate life | real estate team | real estate teams | real life | Realtor | realtor life | realtor reviews | realtor tips | Realtoring | realtors | realtors who care | realtors winnipeg | redecorating | relocating to winnipeg | remax realtor commission rates | REMAX winnipeg | renovating | renovations with the best ROI | rental equipment | riverfront property winnipeg | riverfront winnipeg | royalwood | rural living manitoba | sage creek | selling | selling a condominium | selling a home | selling a home in winnipeg | selling a home winnipeg | selling advice winnipeg | selling during the holidays | selling privately | selling real estate | selling winnipeg | Selling Your Home | sherwin williams | should i buy a house with a pool | should you buy or sell first winnipeg | spring home maintenance tips | staging advice | staging in winnipeg | Summer camps in winnipeg | Summer camps in winnipeg 2023 | summer camps winnipeg 2024 | Team Update | things to do in winnipeg | tips for buying a home | top real estate team | top real estate team winnipeg | top realtor | Top Realtor Team | top realtor winnipeg | top realtors | top realtors winnipeg | transcona | Underpricing a home in winnipeg | water in basement | waterfront homes winnipeg | waterfront winnipeg | what to do in winnipeg | what to do on possession day | whats up | Windsor Park | windsor park winnipeg | winnipeg | winnipeg and interest rates | winnipeg houses | winnipeg manitoba | Winnipeg R | winnipeg real estate | winnipeg real estate market | Winnipeg Realtor | winnipeg realtors | Winnipeg Sellers | winnipeg top realtors | winnipeg, remodeling, | Year in review


Our website has been designed with the intention of providing you access to the Best Realtor in Winnipeg -by this, we mean the best Realtor for you and your needs, although we do strive to be the best real estate agents in Winnipeg based on our customer service, follow-up care, and customized services for our clients. Not only that, but we offer access to agents that specialize in every quadrant of the city. We have a real estate agent for Sage Creek, a real estate agent for Windsor Park, etc. So if you are looking for a neighbourhood expert, just contact us to see who would be the best match for you and your search! If you are looking for a top realtor in Winnipeg, then look no further. You have found us!


We have created several pages to help you navigate through your search and narrow down key areas of interest. Whether it be Sage Creek Real Estate, Windsor Park Real Estate, Fort Garry Real Estate, Transcona Real Estate, Luxury Real Estate, or just Winnipeg Real Estate in general, we have got you covered. Do you feel we are missing a community that would be of interest to you? Let us know, we would love to add information that our clients find useful!




Jennifer Queen Personal Real Estate Corporation