Spring is approaching and already there are signs of the housing market heating up! According to the Financial Post, new condo construction hit new records this year. So, if you are in the market for a new living space then now is definitely the time to get started, especially if you are thinking of buying, selling or renting a Family Home, Condo or Townhouse in the downtown core area. But first, I’d recommend you getting a REALTOR™.
It is true, buying or selling a home can be done by anyone, you don’t need a REALTOR™ at all. However, a REALTOR™ does help facilitate the process. This is where I come in – I am a licensed REALTOR™. I am also a member of the Ontario Real Estate Association (OREA). It is my job to help you through the process and provide you with the confidence and that peace of mind that every action I take has your best interest at heart.
What you can expect from me as your REALTOR™
Highest Professional Standards
Firstly, a REALTOR™ has to go through extensive studies and training developed by OREA on behalf of the Real Estate Council of Ontario. Once licensed there are loads of continued learning courses and seminars to attend, this ensures a REALTOR™ is on top of the all latest industry requirements, trends, and regulations.
Honesty and Integrity
When working with a REALTOR™ you can expect strict adherence to provincial laws, which includes a Code of Ethics. That code assures that you will receive the highest level of service, honesty, and integrity when working with a REALTOR™. We are governed by the legal concept of “agency.” An agent is legally obligated to look after the best interests of the person he or she represents. Transparency at every step along the way of you owning your dream home is absolutely critical.
Buyers / Sellers Representation Agreement
Due to the nature of the industry, it is very common for a REALTOR™ and their clients to enter into a buyer/selling representation agreement. This agreement allows a REALTOR™ and their client to work together exclusively for a set period of time. This is an essential part of the journey, it helps your REALTOR™ understand your needs and wants, it also provides you with an opportunity to share details with your REALTOR™ in confidence. Facilitates a good trustworthy relationship – and by all means, if your REALTOR™ does not live up to your expectations you would be free to search for another REALTOR™ whom may be a better fit for your requirements.
Multiple Representation
This is a hot topic in the real estate market and something my brokerage takes very seriously. There are several incidences of different brokerage finding themselves in situations where the REALTOR™ has violated industry regulations and ethics, and, in some cases, agents were manipulating bidding wars, so they wouldn’t have to split the sales commission with another agent. There are new conflict of interest rules when a REALTOR™ represent both a buyer and seller in a single transaction and tougher penalties when they violate the industry regulations and ethics. For more info on this please visit http://www.reco.on.ca/
Renting, the next best thing?
If you are not ready to buy yet then a REALTOR™ can also help you find a nice place to rent, and it won’t cost you a cent. Everything regarding a relationship with your REALTOR™ I mentioned applies here too. As your REALTOR™, I am here to help you find the best place suitable for your needs. The only thing you need to worry about is:
- A good credit rating – Equifax is preferred
- Employment letter or proof of funds
- First and last month’s rent – readily available as it is normally required within one day of acceptance.
Next steps
If you are still needing more information about working with a REALTOR™ you can visit www.orea.com or if you are ready to buy, sell or rent then contact me, and I would be happy to assist you with any queries.
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