FREQUENTLY ASKED QUESTIONS CLIENTS ASK THEIR AGENTS
1. Why are they selling and where are they moving to?
I will do whatever I can to find out anything I can to help in your negotiating position. The sellers’ agent is not supposed to disclose this unless the sellers give them permission, so I am not always able to get this information. This is good reason to be exclusively represented by a Buyers’ Agent
2. Do I pay you for your services?
No, when buying my services are free. I get paid for my time and service through the seller.
All commissions, fees come from the proceeds of the sale, so as a buyer you do not pay for our services unless we find a for sale by owner and the seller is unwilling to pay the buyer’s agent a commission for selling, then you as the buyer would pay the commission which would be incorporated into the selling price just as it is with a MLS listing. If you are a seller then the commission is in the price of selling the home which would be discussed at the time of securing the listing.
3. Can you show me houses for sale by C21 or Royal Lepage etc.?
I can show you any house for sale in Regina and area. I work as your buying agent to help get the home you want. I can show you any house listed with any other Real Estate Companies or agent, or even a FSBO (For Sale By Owner) if you wish to use an agent. That is the beauty of the MLS system it allows over 500 agents to show and sell your home.
Actually is it more beneficial to you if you use one agent as they are able to show you everything and plan a time suitable to you.
4. Do I have to buy through the Realtor that is selling the house?
No, the realtor selling the house is representing the seller and has been hired to market their home. As your buying agent I will represent you in the purchase.
You can use any realtor of your choice to represent you as a buyer.
It is always wise to shop for an agent that you feel will represent you and your interests in the best possible way.
5. What do I do if I like an Open House property?
Call me and I will assist you in the purchase process.
Let the agent doing the open house know that you have an agent you are working for and then they will not hound you with sales pitches and you will be able to look at the home quietly, once you have viewed it and like it, I can take you in for another look in private and schedule a time that is suitable to both of you .
6. Can you sell me a house that is For Sale by the Owner?
Yes, many owners are willing to have agents sell their home. I would call the owner and make the necessary arrangements to view the home and discuss the possibility of putting in an offer on the property as well as discuss the buyer’s commission to come to a mutual agreement on payment . I would be working for you in getting you the best price for the home, so you will not overpay for the home
7. How do you get paid?
I get paid through the seller.
As agents we get paid a commission on the selling price of the home that is negotiated at the time of listing the property, when the deal is firm and the new owners have taken possession we as agents are paid from the proceeds of the sale.
8. What if I don’t like my agent?
You are able to choose any agent you like
If you have an agent that is selling your home you would be in a contract for a certain amount of time. You can ask the agent to cancel your listing contract, if agent is unwilling to cancel your contract you will have to wait until it has expired. With the Home team you will never have to worry about this as we have the “No Hassle 100% Satisfaction Guarantee" if at any time you are unhappy with our service, you have changed your mind or circumstances in your life have changed you just let us know and we will cancel your listing with no fees, penalties or restrictions on your property it’s that easy. We would rather you be happy than keep you in a contract.
If it is your buyer’s agent and you have signed a buyers contract you can ask to be released from that contract, again with the Home team we believe an unhappy client is not a good way to conduct business so we would release you from your contract and let you search for a more compatible agent. If you are not in a buyer’s contract then you can just let the agent know you will be working with another agent.
9. What if I find the place on my own?
Perfect. Only about 50% of my job is to help find a suitable place the other half is to make sure you are protected and to guide you through the purchase process, answering questions, handling all the paperwork and keeping track of the deadlines.
With the internet and people taking more control of their buying experience this happens frequently. When you find a property that you would like to see let me know and I will make all the necessary arrangements to view the property. Once you have decided that you would like to purchase the property I will advise you on a price and conditions and will write and present the offer on your behalf.
10. Why do I need a Realtor?
Purchasing a house is a complicated and expensive purchase to do without professional assistance.
Your Realtor is a trained professional. We take extensive pre-licensing courses in order to obtain credentials for practicing in real estate, and are continuously trained to keep pace with the times by taking continuing education courses to upgrade our education on a broad range of real estate related issues in order to be able to continue to provide consumers with current advice. A Realtor must be registered under provincial laws that govern exactly how real estate can and cannot be traded. These regulations are your legal guarantee of professional behavior
Realtors must adhere to the extensive Code of Ethics of the Canadian Real Estate Association. Several provinces have additional codes of ethics governing real estate professionals. Your interests must always be put first.
Should you have concerns about the professional behavior of your Realtor, provincial regulators and your local real estate board or association take these matters very seriously and work quickly to resolve any issues.
Your Realtor can provide you with exclusive features of the Board's MLS System, such as immediate notification when new properties are listed. You don't have to wait for it to be posted on a web site.
A Realtor is someone who can look after your needs and best interests, to negotiate on your behalf, keep things confidential, protection for you and your family and show you properties that suit your wants and needs. Why wouldn’t you want someone to represent you on your behalf?
11. What’s their bottom line? How much are they willing to take?
As your exclusive buyers’ representative, it is my job to find out all I can to put you in the best position I can.
12. When can I get possession?
Possession or occupancy is usually at noon of the date of possession. I caution my buyers not to cut it too tight as there are times when the seller is unable to be out of the house by exactly noon. There can also be times when there is a delay in your lawyer getting the monies to the seller’s lawyer by noon.
13. How much will closing fees cost?
Closing costs will be in the range of $1500.00 - $3500.00 depending on the price of the home you are purchasing as well as the amount of the mortgage.
14. What do I need for a down payment?
Generally you will need a minimum 5% down payment, although there are still some financial institutions that provide 0% down as long as you qualify.
CMHC - You need at least 5% down payment, that is part of your purchase price. You can also use your RRSP’s if you are a first time home buyer (this can be discuss more in depth with your mortgage broker)
Conventional mortgage – 20 %
15. Why do I need a lawyer?
He/she is the last piece in completing the purchase or sale process
A lawyer will check to make sure the title is clear and will be responsible for transferring the title to you from the previous owner and your mortgage is legally binding and solid. They will be the one that makes sure the monies are in place and the keys are releasable to the new owner.
They will make sure the taxes are paid, any leans on the property, transfer title and represent your best interests so the possession flows smoothly and you can move into your home with no issues
16. What are houses selling for? What’s a good offer?
We will know what to offer based on the market experience looking at other properties as well as my research into what similar homes have sold for in the area.
17. Can you get out of the deal once you put in an offer?
When we write the offer on the home of your choice, I will ensure we have conditions in the offer to protect you if we find there is an issue with the condition in the home inspection as well as it will be contingent on a final written approval on your mortgage.
Depending on the property we may add other conditions to the offer that will have to be removed in writing before you have a firm commitment to purchase the property. If you have removed any conditions placed on the purchase your deposit would be forfeited. So the answer is yes you can back out if you are willing to forfeit your deposit.
18. What if I find a house I like better and conditions have been removed, but I haven’t moved in yet?
You can pursue that other home but unfortunately you would lose your deposit in such a case. This is why it is wise to look at a variety of homes and to explain clearly to your Realtor what you are looking for so you don`t find yourself in this situation. Better to take your time that to rush into the first home you see. Also, the Seller can sue buyer for breach of contract.
19. Do you have home inspectors, lawyers that we can use?
We have a list of qualified and bonded home inspectors in the area that we can provide to you as well as lawyers in the area.
20. Why do I need a Home Inspection?
It is for peace of mind, making sure the sellers are not covering up past, present problems with the house, the home inspector will do a thorough evaluation of the property to the best of his abilities, covering major areas of the home, so you can feel your investment is worth the money .
21. What about utilities? When do I have them changed over?
I would advise calling the utility companies as soon as you have removed conditions on the property to let them know you have purchased a home and you will be the new owners, otherwise you will be left with a disconnect and have no power or water/heat when you move into the house as the previous owner will have it discontinued.
If your question is still unanswered, please contact us through our contact page or call the office at 306-529-4161 and we would be happy to assist you!
