Tuesday, March 1, 2016

How Much Do You Know About Real Estate Agents?

As an Ontario home buyer, how much do you understand about the roles of real estate agents? Take this True-or-False quiz to find out!

1. Any agent who shows you a home is automatically your agent.

False! Agents are legally bound to protect the interests of the seller, unless otherwise specified in a written agency agreement between a buyer and an agent. Working with a Buyer’s Agent is the only way to assure you are fully represented.

2. There’s no harm in giving your personal and financial information to any agent.

False! Agents who represent sellers are required to reveal all they know about the buyer. This puts you at a huge disadvantage during negotiations.


3. When you make an offer through the listing agent, he or she still negotiates for you.


False! The listing agent is required to negotiate the highest possible price that you will pay, without losing the sale. The listing agent is negotiating for the seller, but communicating with both sides – to your disadvantage.


4. You have the right to use a Buyer’s Agent.


True! You should contact a Buyer’s Agent and obtain a personal consultation before you begin looking at homes. Your Buyer’s Agent will arrange showing appointments, provide advice, and represent you throughout the home buying process.


5. You can save money with a Buyer’s Agent.


True! Your Buyer’s Agent will make market comparisons to ensure you do not overpay for a home. He or she can potentially save you thousands of dollars!


6. A Buyer’s Agent doesn’t cost any extra money to use.


True! Your Buyer’s Agent is paid from the transaction proceeds, just like any other agent. As the home buyer, you pay nothing extra for having your own representation.


Ready to learn more about working with a Buyer’s Agent? Contact me today for your free home buying consultation! There’s no charge and no obligation.



Wally Dufrat
Re/Max Twin City Realty, Inc.
Phone: 519-752-5400
515 Park Road North

Brantford, Ontario N3R 7K8

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