Benefits of Hiring a Buyer Agent

A Buyer Agent is an extremely important figure in any real estate transaction because he or she exclusively represents the interests of the buyer throughout the purchase of any property.

When you are looking to purchase real estate, particularly during a re-sale transaction, the seller will always have an agent working his or her hardest to get the best deal for the seller.

If you are thinking of purchasing through a developer, you must be cautious, since the developer will always have THEIR best interest at heart. The legal verbage surrounding The Agreement of Purchase and Sale followed by Condo Documents can be overwhelming, if you are not working with an experienced buyer agent who is well aware of these forms, you may get stuck paying additional levies or purchasing a unit that does not suite your needs.

Without a Buyer Agent, you are essentially going into these transactions alone, trying to negotiate on your own behalf with experts who are skilled at representing the interests of their clients.

Why its ABSOLUTELY crucial to work with a Buyer Agent Especially when dealing with a Developer

It is absolutely CRUCIAL that you work with a Buyer Agent when looking to purchase a new condo – ESPECIALLY if you plan to buy at a new development site. Remember – the sales agents working on site are working in the best interest of the DEVELOPER…not you…and many times these ‘salespeople’ are NOT even licensed agents!

When you use a buyer agent, you ensure that you have a skilled and experienced real estate professional working for you.

Here are some of the most important benefits to working with a buyer's agent:

1. Cost Savings

The market conditions in the real estate sector are changing constantly due to the economic conditions, and finding the right home is only half the battle. Negotiating the contract to your advantage is tremendously important, and where the skill of your real estate agent will truly benefit you. A buyer's agent will keep your unique needs and desires in mind, making sure that they are met and with little inconvenience to you. Plus, agents that focus on new development oftentimes have multiple buyers for the same project, and can negotiate ‘bulk’ deals and much bigger discounts.

2. Objective Advice

When you walk into a sales office for a developer, they have one goal in mind – to sell you one of THEIR units. When you work with a buyer agent, there goal is to find you the BEST unit that meets your needs. For example, you may have an interest in a specific property, and the agents at that property are more than happy to convince you to buy, but your BUYER AGENT may have recommendations for other units/properties that better suit your needs. Salespeople at developer sites would be crazy to recommend you to their competition!

3. Familiarity With The Toronto Market

There are so many options for purchasing a condominium in Toronto, and finding the best match for your needs can be overwhelming. A buyer's agent helps you find the right building with the right amenities to meet your needs, and will know about truly great finds sometimes even before a condo is on the market so that you get the opportunity to jump on the fantastic deals that are currently available.

4. UNprecedented VIP Access with TCB and our agents

Working with the right buyer agent has its privileges. Experienced agents will usually have relationships with many of the top developers in the city, providing the agents and their clients with unprecedented VIP access to private sales events, VIP private launches (where prices are almost always lower before the launch to the general public). VIP Agents are also given access to special units that the developer will hold back from the general public for future releases.

5. It’s FREE, Yes you read it correctly ITS FREE!

The most important of all these benefits is that there is no direct cost to you! The seller or builder pays the buyer's agent commission, giving you the advantage of an experienced professional on your side ... for free! (There is a common misconception that working WITHOUT a buyer’s agent will somehow save you money since the developer doesn’t have to pay the commission. This is absolutely false, and in most cases the exact opposite since working WITHOUT an agent may end up costing you MORE money. As I mentioned, it’s the developer’s goal to make as much profit as possible. They are more than happy to see you walk in without an agent!)

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