ANSWERS TO FREQUENTLY ASKED QUESTIONS

Q: Who should I work with? 

A: You should work with an agent that you trust. Full stop. The person you choose should advocate for your best interests no matter what, provide you with expertise so that you can overcome any fears and obstacles and move forward with confidence. You’ll be discussing confidential matters with this person, and likely spending a fair amount of time working with them, so it’s important to have a solid working relationship together.

Q: Why should I use an agent? 

A: An agent is an industry insider with information and skills that you cannot find on the internet, or from those who are not in this trade. You’re hiring a professional who has a legal obligation to leverage their expertise, interpret data, act as your eyes and ears, and represent you as though they were an extension of you. We’re also held to a code of ethics and we are monitored by several governing bodies.

Q: What do I need to do to prepare? 

A: Some preparation will help you tremendously in this process. Take a look at your finances to understand how much you can devote to your housing costs every month, and how much savings you have. In the event that family might contribute, it’s good to start exploring this now.

Q: When do I get to go look at properties? 

A: It’s critical that you follow the guidance of your agent in this highly competitive market. For purchases, you’ll need to be pre-qualified for a mortgage by mortgage broker or a financial institution and get this in writing. Your agent will have network of trusted professionals that they recommend – and a good mortgage broker is key. For leases, you’ll need to share some documents in order to begin. You want to have a clear path on the journey towards your new home. To start browsing at properties in advance of these milestones would be like going to the airport with a packed suitcase, but no destination in mind.

Q: Where do I start? 

A: Have a free consultation with an agent so that you can share your needs and goals, address any concerns and determine whether there’s a mutual fit. The best relationships are built on trust and you can only determine that with a candid conversation. From there, you and your agent will discuss your next steps and what you can expect on this journey toward your new home. It’s important as well to pay attention to how you feel with this person – do they instil confidence, do they listen to you, do you feel good speaking to them? All of these will be critical to you during this process, but also with how they’ll deal with the other agent during the transaction plus the other experts you’ll be working with. You can also ask the agents what they’ll need from you – this way you establish yourselves as a team from the outset.

Q: How much does it cost to work with an agent? 

A: The short answer is that it’s free for the buyer because the seller pays the fees for both sides. It’s important to understand fees upfront and in advance of negotiations so that there are no surprises whether you’re buying or selling. The same is true for leases – the landlord pays the agents, so it’s free for tenants. There are additional costs for every transaction that should be discussed with your agent so that you can have a ballpark estimate for your planning purposes.