Tips for Choosing Your Real Estate Broker
To succeed in any large project, it’s important that you surround yourself with the right people. When it comes time to buy or sell a home, it’s important that you have a real estate broker on your side, as someone who can help you navigate this complex transaction.
If you’re selling your home, your real estate broker will estimate its market value, gather and verify all the relevant documents, market and promote your home, manage visits and lead the negotiations until a sale is concluded.
If you’re buying a home, your broker will help you determine your needs, find the properties that best meet your needs and will accompany you throughout the negotiation process until the sale is concluded at the notary’s office.
In fact, thanks to their knowledge and expertise, your real estate broker will be able to prevent potential problems that may arise during the transaction and will enable you to continue going about your business while enjoying peace of mind.
Using a real estate broker does have a cost, as is the case when using the services of any other professional. However, real estate brokers only get paid if they get results, meaning only when a property is bought or sold.
6 tips for finding your broker
- Look for a broker who has a good knowledge of the area in which you want to buy or the type of property you are looking for (particularly for a condominium).
- Verify the broker’s licence with the Organisme d’autoréglementation du courtage immobilier du Québec (OACIQ); you can do this online. The broker’s information page will also indicate the continuing education courses they have completed.
- Ensure that the broker is a member of a real estate board, as this gives them access to the Centris® collaboration system, which is exclusive to real estate brokers. Even though the public can access the public Centris.ca website, a broker has access to much more information that allows them to compare properties on the market, know their histories, etc.
- Ask them about their service offering, as business models vary from one broker to another.
- Talk to some of the broker’s former clients to ensure they were satisfied with the service he or she provided.
- Compare and communicate with more than one broker before making your decision.
It’s the law!
Real estate brokers are governed by the Real Estate Brokerage Act. To obtain their licence, they must follow a training program of approximately 500 hours and pass the exam administered by the OACIQ. They must also follow a continuing education program and are governed by a code of ethics.
To find your broker, access our search tool.