Many novices in the real estate market of Canada will never realize the unbelievable and hidden truth behind the loyalty of real estate agents towards property sellers. Surprised? Well, many people get lured by the polite demeanor of real estate agents and tend to believe that they are working for your best interests. Or that they want to get you the best possible bargains. The truth of the matter is that real estate agents by law are bound to work for the benefits of the seller, unless a cautious and vigilant buyer chooses to sign a Buyer Representation Agreement with their realtor who will then work on the buyer’s behalf. Without this agreement the realtor is bound by law to pass on each and every detail about the buyer’s interests and their bid to the seller as well as the possible outcome of a home purchase without consent from the buyer.
As a buyer you can hire an agent well familiar with real estate of Canada and sign up two types of agreements with different services being offered by the realtor in exchange for each agreement. You can either sign a Buyer Representation Agreement to assure that your real estate agent is working for you and is accountable for every thing he or she does. In this type of agreement the realtor is bound to help you out with his or her skills as an agent and it makes them accountable for all the financial transactions involved. You can make use of the knowledge of your realtor who, let’s face it has experience in the market and can provide you with valuable advice that will only end in you getting maximum profit from your property purchase. The realtors under this agreement become bound to answer all your questions to the best of their ability.
The perks of this agreement require special mention here. You do not have to pay the realtor for this service; the compensation comes from the commission by the listing agent working on behalf of the seller. So you can become a client of the agencies of real estate of Canada, apply their experience to your get the maximum benefit from the purchase of your home and not a single penny of your money goes into the process. However you have to agree to working with the agency for a specified period of time as the agreement states.