What is a Buyer’s Agent?
You’re driving around downtown Toronto, or surfing the net, or reading one of those ad rag free real estate magazines, when you see an incredible home for sale. Eager to check it out, you call the real estate agent advertising the property . . . . . . STOP RIGHT THERE!
The real estate agent that listed that property has a legal (“fiduciary”) to and is working for, the Seller. Whenever real estate agents list a property, they pledge confidentiality and loyalty to the Seller. Although they are ethically (and legally) bound to “answer your questions honestly” (but you’ve got to know what questions to ask!) and to deal “fairly” (there’s a lot of “wiggle room” here) with you, they are legally obligated to protect ONLY the best interests of their client” . . the Seller . . . not yours!
Even if they don’t advertise the fact, most real estate agents work for Sellers (either directly or as “co-operating brokers“); representing ONLY the seller’s interest, not yours; and therefore negotiating real estate sales with advantageous terms for Sellers. If you want to buy real estate in Toronto, how can you be sure your real estate agent is acting with your best interests in mind? Let me explain “Buyer Agency”…
Benefits of a Buyer’s Agent
I always prided myself on being a true “specialist” (almost 4 decades in Toronto condos) in buying real estate. There are no “deals” in real estate . . . . . just “good buys“.
In the past, all real estate agents represented sellers, and home buyers had to fend for themselves. For over 15 years I chose to advocate solely for buyers, giving buyers a chance to have their own professional and highly skilled representation.[/su_spoiler]
I continue to share my unique real estate knowledge and expertise
When I was young I caught onto a very basic philosophy . . . “when you are young you work for your money and when you are old you must have your money work for you”. I’m still an active condo investor and continue to blog about the market but from a more unique perspective.
I pride myself for being intimately familiar with all of Toronto’s and Oakville’s high end homes neighbourhoods, and since I still spend my days previewing and reviewing new property offerings, home price reductions, and Toronto/GTA real estate news, reading my blog and still pay you huge dividends.