What Most People Don't Know

By: Michelle Makos

What Most People Don't Know

Tags: Home buying, Looking to buy, buying a home, mls home search, purchasing a home, first time home buyer, Pickering home buying, Michelle Makos, Buying Real Estate

I wish more people who were looking to purchase a home knew the benefit of having a Realtor working for you really was?   I often see people come into Open Houses and when asked if they are working with anyone, they quickly reply, "no".    For some reason, they think if they use the Listing Agent to purchase their dream home, they are going to save money or something.  WRONG.

The Listing Agent has a signed listing agreement with the Seller.  Their fiduciary duties are to the Seller.  You are far better off to find an independent agent to work strictly for you and look out for your best interests.  Just recently (yesterday to be exact), I was looking at comparable for a home in Brooklin (North Whitby) for a client and came across a property that was listed back in December 2017 for $749,900 and then reduced to $714,900, then $704,900, then $699,900, then $679,900 and then $650,000 and now back up to $704,900.  Now if you were working with me, I would have all this information readily available for you to see so even if, you decide you love this property, I would be letting you see the various listings showing the different prices through out the year.  This may influence what you were willing to offer?   

Buyers deserve to know the last solds on the street, what they paid for it when they purchased that home and what, if any, price changes have happened on that property since listing it.  

The Real Estate Boards come out with monthly stats which I post monthly in a newsletter to my clients who have signed up on my website discussing percentage of solds, average selling prices and days on market.  This is great if the data they are using included how many times that property has been terminated and relisted before being sold but it does not !!  So when it says the average days on market is 23 or 25, right now, it would be way higher if it took into consideration all the price adjustments before it actually sold.

So please please please, when buying a home... be represented.   Walking into an open house unrepresented is not helping you "get a deal".  I can guarantee that !!!   

Think about this - there is a reason a lawyer cannot represent two sides in a real estate transaction ~ because it is a conflict  of interest.  The same when you are buying a home.  When each side is independently represented to me, that is when you are best protected.   The only person winning in these double ended deals is the agent, not the seller or the buyer.  

Research the agent you choose.  Google them.  Check them out, just as you would a lawyer you choose, a Doctor you go to or contractor you would choose.   It will save you money and grief to know that the person you are working with, has YOUR best interests at heart !!!

On that note, Happy House Hunting !!  If you have any questions about a property or a listing or would like to sell your property, always know - YOU will be my primary client.  YOU will be my main concern and YOU will benefit from services.

Have a great day everyone !  Cheers,
Michelle

P.S. -  And if you are buying a new home from a builder, know that some of the people working the sites are not necessarly registered in the Province of Ontario to sell real estate, some are just salespeople working for the builder, not you.  So just be aware of that.