A large misconception with Realtors is that they will charge you a fortune on top of the purchase price you are already paying, which is most likely the biggest investment of your life. In reality, it costs you nothing to use a Realtor when purchasing a home. Commission on the sale is paid by the seller and split between the buying agent and selling agent in the transaction. This means that you can have a professional with you every step of the way, guiding and advising you, with zero cost to you.
A Realtor plays many roles in the buying process. When you first talk to your Realtor, they will ask you to do a wants and needs analysis, an exercise to help them better understand what you are looking for in your new home. They will discuss becoming pre-approved for a mortgage, the timeframe of which you would like to purchase and the number of bedrooms, bathrooms and square footage you are looking for, as well as any extras like a yard, a garage, storage space, a basement and anything else you might require in your home. Realtors are also experts in the different neighbourhoods in your city, so they can help you choose the best neighbourhood to suit you and your family's needs.
Once you have established your goals in the market, they will set out to find homes for you and arrange convenient times for you view the homes. New listings become available to Realtors before they become available to the public, so if there is something specific you are looking for they will be able to stay on top of the listings and share them with you as soon as they hit the market, ensuring that you don't miss out on your dream home.
Realtors are able to advise you on many details of a listing, including their history, the pricing, how long they've been on the market, the zoning laws the property falls into and what that will allow or prohibit you from doing and many other determining factors which will help you assess an accurate value of the home. They are able to pull historical data to perform a comparative marketing analysis, where they will compare your home to similar homes that have recently sold to determine if the listing price of a home is true to the market value or overpriced, to ensure you do not make a purchase that you will later regret.
Once you have found a home you wish to purchase, your Realtor will provide all the necessary paperwork and guide you through the process completing the forms. They also have a large network of resources that will be required throughout the transaction including mortgage brokers, lawyers, home inspectors and insurance agents. This will ensure that you are always working with someone who is trusted and reputable in their field of work.
Realtors are a part of an association which governs the entire body of real estate agents in the region. All Realtors must adhere to a strict Code of Ethics and Standards of Business Practice. They have a duty to be responsible for their actions, loyal and competent towards their clients, disclose all known facts to you as a client about the home you are purchasing and to act in complete confidentially in regards to any information about yourself and your financial situation you provide to them. This in turn means that you are working with an absolute professional who will act in your best interest to make the entire transaction, from start to finish, as smooth and stress-free for you as possible.
If you are looking for more information about buying a home in Saskatoon or want to discuss your real estate needs, feel free to contact us any time.