If you are at all interested in this site, then we are assuming that you have a very basic idea of what real estate is about. Actually, we think that most people interested in this site will have more than a basic idea and most will be agents already, selling Oakville real estate or staging rooms to help sell homes in Brampton. But for purposes of these introductory pages basic understanding is really all you need -- you've talked to a Milton real estate agent or have browsed through homes at a Scarborough realty office. And essentially, there are two main functions in the real estate business, as far as the agent is concerned: buying and selling in one form or another (yes, we are including leasing and renting in these categories as well).
Of the two main functions a realtor assists a client in performing, most people (including realtors themselves) automatically think of selling when they think of money. It's easy to see why a realtor would be more excited about helping a client to buy a condo at 18 Yorkville or a home for sale in Rosedale than helping them to buy one. We have a section for information on selling articles in the market today, but here we are going to talk about the buying part of the business.
Before we get into the specific information in our articles, it is worthwhile to have a bit of a discussion about what buying really means to the real estate agent. Automatically, the question of commission comes up, so that is where we will start.
When an agent is acting on behalf of a buyer, there is usually not as much to be had out of the time spent than there would be if one was assisting a seller. The reason for this is based largely on commission; selling agents just get more money. It is the seller who closes the deal on that beautiful condo in downtown Toronto, a buyer just finds someone interested. A buying agent is essentially just assisting an interested buyer in finding the right property and then getting them the best sale price they can, maybe looking at power of sale properties in Brampton. Actually, it makes sense that the commission is lower when an agent is buying, otherwise the realtor would be negotiating his or her way out of a salary by lowering the price.
That said, most agents are aware that there is recompense when it comes to acting as a buyer's agent. First of all, the agent may share a portion of the commission from the sale with the broker and the selling agent, depending on brokerage policy. If a selling agent gets a huge commission for a Port Credit real estate property, it is only fair that they give some to the person who sent the buyer. These rules have been known to change from time to time and we will take a closer look at what kind of split you can expect. Also, one could look at the buying agents situation from the top down. That is, if an agent helps a buyer by finding and negotiating a price on a house listed by the brokerage, it is good for business. Helping a client find the best vVariable mortgage Canada rate is good for the brokerage. What is good for the brokerage is good for the realtor, as it may mean that the brokerage increases contracts or decreases their own cuts when an agent sells.
And of course, there is the fact that a good buyer agent gains word-of-mouth credit within the real estate market. Most buyers that you work with will want to sell their homes sooner or later, and the first person they are likely to think of is the agent who helped them find the home in the first place. Moreover, they are more likely to tell friends about the agent who helped them, thus building up a list of potential clients. After a while, you've turned that Brampton condo for sale purchase into you name being on the lawns of several Brampton real estate properties.
The articles in this section will delve deeper in the fact, advantages, and nuts and bolts of acting as a buyer's agent. It's all a part of the business!