When it comes to buying a home, a REALTOR will give you the edge you need to make the soundest investment possible. This individual will help you find the right home, negotiate a fair price, calculate mortgage rates, figure out closing costs and so on.
In Manitoba, a REALTOR is a licensed real estate professional who is a member of the Manitoba Real Estate Association and the Canadian Real Estate Association and is also a member of the local real estate board in areas where Boards exist -Brandon, Portage la Prairie, Thompson and Winnipeg.
A REALTOR must adhere to provincial law and to a code of ethics. Before receiving a real estate license, candidates must successfully complete an extensive course of study developed by the Manitoba Real Estate Association on behalf of The Manitoba Securities Commission, the licensing body in Manitoba. Once licensed, all real estate practitioners are required to annually update their skills and knowledge through mandatory continuing education courses.
Reasons to use a professional
With all of that education and experience under their belts, REALTORS have considerable knowledge of market values, the properties available in your price range and homes that will match your individual needs. These professionals can help you understand property financing, taxes, insurance and the stops you will have to take to complete a real estate transaction.
A REALTOR can tell you what schools and services are offered in particular neighbourhoods. He or she also has direct access to a vast library of information through the Multiple Listing Service (MLS®), which provides up-to-date details on a wide variety of properties in the markets you are exploring.
A REALTOR will review your list of needs and wants in a home. They will help you determine what you can afford and should consider. Once you have a clear understanding of what you want and can afford, your REALTOR will be able to screen properties for you -saving you valuable time by eliminating homes that aren't right for you.
As you visit and react to each home, your REALTOR will have a better understanding of what you want and don't want.
Once you have found the right home, your REALTOR can help you select the most appropriate mortgage option and obtain financing at the best available rates. A REALTOR will also act as a negotiator to arrange a fair purchase price.
Your REALTOR will also help mediate any potential conflicts that might arise between you and the seller, draw up a legally binding contract and advise you on when to bring in the other professionals you will need, such as a lawyer, lender, home inspector and insurance broker.
Selecting a REALTOR
When looking for a REALTOR, don't just pick the first person who promises to turn your dream to reality. Do some research. Interview several REALTORS before making any decision.
Ask friends, family members, co-workers and neighbours who have recently purchased property for the names of REALTORS with whom they have had good experiences. Prepare a list of questions to ask, such as how many properties have you sold in the last six months? How long has the firm you work for been around? Do you have access to MLS®? Can you provide me with a resume and a list of reference?
Keep in mind that you will be spending a great deal of time with this individual, so be sure you feel comfortable with and have trust in the person you select.
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