Should a First-Time Homebuyer Hire an Agent?

Posted by EdmontonRealEstate.ca Team on Thursday, August 20th, 2015 at 11:19am.

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A first-time homebuyer may not have a lot of experience in real estate, which makes it harder to find the best property. Buying a home is a major investment and losing money because of poor judgment or a hasty purchase could be horrific for any homebuyer. It is a smart move to employ the services of an experienced and ethical real estate agent to assist in making crucial choices along the way.

Experienced real estate agents have been in the business for a long time and therefore provide their time tested skills when it comes to helping homebuyers find and purchase the right property. It is the fiduciary responsibility of a buyer’s agent to help their clients out the best they can and to look out for their interests.

A professional and ethical real estate agent has the following duties:

  • An agent will negotiate on their client’s behalf
  • An agent will go out of their way to get the best price, terms and conditions which will match their client’s needs.
  • An agent will disclose any defects and concerns about the property that he can find.
  • An agent will be able to provide seller disclosures to be able to protect his clients. Disclosures such as the existence of lead paint, death on the premises, zoning changes, natural hazards, air pollution, ground pollution and fire hazards are just some factors that could affect the property.
  • Agents are required to tell the truth.

Usually, sellers pay the fee for the buyer’s real estate agent and therefore, this service will never cost anything extra for the home buyer.

First-time homebuyers gain confidence, knowledge and skills after they have purchased one or two properties. When they do, they may opt to buy their next home without the help of a real estate agent. However, a real estate agent deals with home purchases regularly. It’s always wise to have the services of a trusted expert during such a large transaction.

By Justin Havre

 

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