Understanding the Home Buying Process

Embarking on the journey to find a place to call home is very exciting!

In my years of experience I’ve learned that most often people don’t really know where to start, so they will simply fill out a form online to arrange to view a property.

Obviously, that’s what these forms are for, and it’s a natural starting place. However, buying a home is no small expenditure so it’s important to understand the process, agency relationship, and building your professional team so that you are adequately prepared to make the biggest purchase of your life.

The guidance of a professional Realtor is invaluable even for the most seasoned investors. The real estate transaction is complex and involved, and the rules and regulations within the industry (tenancy laws, rescission periods, additional taxes, etc) are ever changing and difficult to keep up with.

Often buyers want to just connect with the listing agent of a property so they can quickly get in to see it without understanding that the agent cannot provide them with any guidance or advice about purchasing the property. And to take that one step further, anything you tell them they are obliged to share with their clients (the home seller).

Before a Realtor can show you a property, they are required to present you with a Disclosure of Representation in Trading Services form detailing the different types of agency relationships. This is crucial for establishing how they will represent you. It's essential to have this discussion to gauge your comfort level with the Realtor, as it's important to work with someone you trust and feel at ease with.

Once you've chosen a Realtor to work with, be prepared to sign a Buyer's Agency Exclusive contract. Don't be intimidated by this step—it simply ensures that both parties have a clear understanding of their roles and responsibilities, outlining what each can expect from the other.

Your Realtor offers more than just access to properties. They provide essential guidance and education to empower you in making decisions that align with your needs and preferences.

If you're uncertain about finding the right Realtor, seek recommendations from people in your network. Those who've had positive experiences will gladly recommend their Realtor to you!