Is it important to buy with a broker?

Written by Yan Castonguay 26 February 2018

 Many buyers mistakenly believe that buying a property directly from the listing broker will save them money. In reality, this perception is false and in most cases, the buyer will pay much more. Why? Here are some answers to this question.

 

  1. It is important to understand here the process of selling a property. The seller's broker is hired by the seller to provide him with the best price and the best conditions possible. Many buyers think that the seller's broker will make a commission discount if he represents both parties and this is not always the case. And even if in some specific cases it is, the seller's broker will do everything to get the best deal for his seller. In addition, this economy is very often minimal vs the purchase you make. So, you think you’ll save several thousand dollars in this situation when, in reality, you will pay several thousand dollars more!
  2. The house is for sale directly from the owner. You are even more at risk. Too often, we met sellers and following the discussion of the recommended price to put it on the market they decided to try it all themselves. Surprise, the house is found a few days later on sale at a price much higher than we had advised them. In the vast majority of cases, the seller will not sell. But unfortunately for the buyer, it happens that it sells. The buyer will have paid $ 10,000 or $ 20,000 too much. Owner-selling sites tout the economy for the seller, but deliberately forget the fact that too often buyers pay too much for their new property.
  3. A broker dedicated to your purchase will take the time to show you the history of the property, look at previous marketing to identify any important issues and also give you a study of comparable to this very specific property. The seller's broker will provide you very seldom this type of information. And this service will be completely non-existent on the part of the seller without a broker. Why would the seller's broker not bring you this information? Because he wants to get the best possible conditions for his client. It could even be that you pay more than comparable ... so be careful. For peace of mind, get yourself represented.
  4. Likewise, the personal information that you share with the selling broker, such as your very high interest or your crush on the house will hurt you. In fact, the seller's broker or the seller himself will know that he can raise the price based on your answers to his questions. A broker representing you as a buyer will always retain this personal information in order to create a favorable trading environment for you.
  5. Are you buying in a risky sector? Slump, sinking house, iron ocher, septic tank, artesian well, older property, vermiculite, radon, pyrite, higher water table, poor drainage in the neighborhood, quality of schools and dubious neighborhood, very windy area, noise and movement caused by a train, etc. Some of these points do not ring a bell... perhaps you should find a broker who will protect your interests! A good broker does not "focus" on a sale, but on a lasting link with the customer. He wants to stand out with his knowledge, his expertise and his negotiating skills. Why? Because by serving you in an optimal way he hopes to get your references!
  6. Once the inspection is completed, the broker who represents you will do everything he can to ensure that the house is free from any major repair problem. Again, the seller's broker may attempt to reduce the work in question in order to close the sale. Remember that he works for the seller ... just in case we haven’t stressed it yet

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