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How to Choose Your Mortgage Broker

What are their fees?

How many lenders do they have access to?

Why should I work with you instead of directly with a lender?

Can you guarantee that my closing will be on time?

What's your availability in case I have questions or need to get in touch?

Whats does your past clients say about you??

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Working with a Real Estate Agent

Why Getting Approved Is Important

A real estate agent can make a big difference in the home buying process, and not just for the reasons you might think.

Find the Right House

First and foremost, your agent will help you find the right house. Agents have access to the Realtor.ca database, which means they know what homes are on the market, what features they have, and what they're listed for. While real estate listing sites have this information and can be a good starting point, they're not always 100% accurate or up to date.

Agents have also seen enough homes to know which ones are likely to have expensive problems. Your agent should be able to tell you what to look for and what to steer clear of, which is especially important if you're a first-time home buyer.

Zero in on a Good Area

Finding the right house isn't only about knowing which homes are up for sale. A real estate agent can help you zero in on the location that's right for you. An experienced agent will help you find the very best school districts, amenities and resale values – or whatever is important to you.

Get a Guiding Hand

According to Jermaine Williams, a real estate agent and broker affiliated with Property Xchange Realty Point, the primary benefit real estate agents provide is consultation. Jermaine talks each of his clients through the home buying process before they even start house hunting, so they know what they're in for. While most homeowners will only buy a house a few times in their lifetime, agents go through the buying process with their client’s day in and day out.

Manage the Paperwork

Do you know how to write a purchase agreement? Luckily, this isn't something you need to worry about. Your agent will draw up the purchase agreement so all you have to do is read it and sign it. There's a lot of paperwork involved in buying a home, and your agent is there to take care of it.

Make Connections

The buying process can be a whirlwind experience once you've had an offer accepted. There are so many things for you to take care of over the course of about a month, including getting an inspection within five days, arranging movers, shopping for insurance– and that doesn't even cover getting a mortgage.

Luckily, your real estate agent has seen it all before. They know which inspectors can give you an accurate report, which movers are worthwhile and which insurance agent to recommend. Jermaine even sets up the home inspection for many of his clients. "The only thing that they do themselves is call the insurance company," he said.

Agents have also seen enough homes to know which ones are likely to have expensive problems. Your agent should be able to tell you what to look for and what to steer clear of, which is especially important if you're a first-time home buyer.

If you're approved, you can download or print a Prequalified Approval Letter to share with you and you can your real estate agent to start house hunting.

How much does it cost to work with a real estate agent?

It's free to work with a real estate agent if you're buying a home. But this doesn't mean your agent doesn't get paid. The seller will pay the commission for both your agent and their agent. In most cases, the commission is 5%, with 2.50% going to each agent.



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