Buying A Home
By the Toronto Real Estate Board
Don't depend on blind luck to find your new home - enlist the services of a real estate representative; one who specializes in the sort of property you would like to buy.
Choose a REALTOR you feel confident can turn your dreams into reality. Once you have, here's what to expect...
The Voice of Experience
A REALTOR will not take it for granted that you know all the in's and out's of the buying/selling process. Instead, he or she will provide you with a full explanation of what to expect - and that's important so you're not faced with any surprises along the way.
Assessing Your Needs
One of the first questions a REALTOR will ask is, "Why are you moving?" A REALTOR will also explore any time constraints you might have (perhaps imposed by the need to relocate for employment), your financial situation and any future plans.
A REALTOR will also help you decide where you want to live and what type of house is best for you. There are plenty of housing options available in the marketplace - new homes, resale homes, townhouses, condominiums. A REALTOR can help you choose the one that best suits your current and projected lifestyle.
It's all part of getting to know you so your purchase will be handled to your complete satisfaction.
Targeting Your Dream Home
A REALTOR will help you identify what you want in your new residence. A pool? A garage? An extra room? A particular building design? What about the neighbourhood? Proximity to schools or work?
A REALTOR will compare your needs, wants and budget with what is available on the market - and make recommendations that save you time and effort.
He or she will also accompany you as you view houses and help you assess their suitability and price. As an expert on a property, a REALTOR can provide facts on the neighbourhood, the cost of heating, the condition of the furnace, and so on.
In other words, he or she will work with you to achieve your "dream".
Access to MLS
Multiple Listing Service or MLS is an exclusive service accessible only through a REALTOR - and it can be a valuable tool. Through MLS, the details of a wide variety of listed properties are made available to the REALTOR you work with. That can save you a tremendous amount of time and effort in the hunt for the right home.
Arranging Financing
REALTORS have broad and current knowledge of the financing choices available to home buyers - and there are many of them, an often confusing array. At your request, a REALTOR will assist in evaluating mortgage options and obtaining financing at the most attractive prevailing rates and terms.
A Skillful Negotiator
REALTORS are experienced in arranging fair deals. He or she will assist in negotiating an offer, acting as a mediator to headoff potential conflicts between you and the seller, and draw up a legally binding contract.
Agency Relationships
There are different agency relationships that can exist between home buyers and Realtors. A Realtor will be pleased to discuss his or her agency relationship and responsibilities. For additional information, refer to "Agency Relationships Explained."
Honesty and Integrity
Most real estate professionals in our province are members of the Ontario Real Estate Association (OREA) - and only members of OREA can call themselves REALTORS.
When you deal with a REALTOR, you can expect not only strict adherence to provincial laws, but also adherence to a Code ofEthics. And that code is very important to you - because it assures you that you will receive the highest level of service, honesty and integrity.
Highest Professional Standards
Before receiving a real estate licence, candidates must successfully complete an extensive course of study developed by OREA on behalf of the Ontario Government. And that is only the beginning: within two years of receiving their licence, the new professionals are required to successfully complete three additional courses as part of their articling with an experienced broker.
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