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
<strong><u>100% Allegiance to YOU</u></strong>
When active, I worked solely for buyers, and held 100% allegiance and dedication to my clients (“Buyers”), from the onset of the relationship through the closing (same as when you enter into a Listing with a Realtor).
It was my sole mission to represent the best interests of the buyer, which meant I am focused on you, the buyer, from initial search and evaluation of properties to your closing on your dream home or investment.
As a Buyer’s Agents, I became a consumer advocate by osmosis, always representing ONLY the best interests of my “client”, the Buyer. Read why experts agree that Buyers Agents are the best choice! Read why experts agree that Buyers Agents are the best choice!
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]
<strong><u>No Potential for 'Conflict of Interest'</u></strong>
I never introduced any potential for conflict of interest between you and a seller, as I didn’t represent sellers at all.
When you work with traditional real estate agents, you run the risk that they might also be representing the seller, leading to what could constitute “conflict of interest” which most likely won’t benefit you, the buyer.
<strong><u>Searches Tailored to You</u></strong>
I approached finding you your property as if I was buying it for myself. I showed you any listing from any seller with complete candour.
While traditional agents might be tempted to steer you toward a specific home or listing that belongs to one of their brokerage’s sellers, I never faced that conundrum, and only showed properties that meet each of my clients unique requirements. As a buyer’s agent for over fifteen years and a developer’s agent for over 25 before that, I knew the Toronto and surrounding area real estate markets better than most.
<strong><u>Candid/Objective Property Evaluations & Assessment</u></strong>
As a Buyers Agent, I could be completely candid about any and every property, making it my job to point out negatives as well as positives to help my clients make their own “fully informed decisions“.
When I took pictures of a property to show my international clients (80% of my clients were international buyers), I don’t “Photoshop” them. I want my clients to see the Good, the Bad, and the Ugly of every property — so they wouldn’t have any surprises later.
With Toronto overflowing with poor quality condo buildings and poorly managed properties, my almost 40 years experience carved out the “dogs” so my clients didn’t waste time even looking at them. I always pre-screened every Listing before it is even sent out.
<strong><u>Buyer Negotiation</u></strong>
Any past client that I’ve ever worked with will tell you that I am tenacious (in the industry I am nicknamed “the king Cobra”) when it comes to negotiating the best contract, terms and price, and this paid huge dividends to my clients.
As your Buyers Agent, I always worked to get the best price and terms for you. This may not necessarily be true of traditional agents who represent both buyers and sellers
<strong><u>Highest Quality Service</u></strong>
Most importantly, I gave the highest quality of service, advocacy, and information that you truly need to make your own “informed” decisions.
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.
