Preparing for Your First Meeting With a Real Estate Broker
Are you planning to use the services of a real estate broker to sell or buy a property? Preparing for your first meeting is a crucial step in a process that is often, quite frankly, filled with unforeseen issues and strong feelings.
However, when it comes time to setting up this collaborative relationship, many buyers or sellers feel unprepared. Needs, objectives, constraints: there are so many elements to take into consideration for a real estate transaction to be successful. In this article, you will see how to prepare for the first meeting with a real estate broker so that you can maximize their role in one of the most important decisions of your life.
Understanding the role of a real estate broker
From coordinating visits up to the signing of the notarial deed, a real estate broker acts like an orchestra conductor. In other words, your broker is there to help you sell or buy a property according to your reality and needs. Brokers help you navigate the complex world of real estate transactions, saving you time and money, while providing you with the information you need to make informed decisions. That being said, what questions should you ask when selecting a real estate broker?
Here are some things to discuss during the first meeting[1][2]:
- What are their fees?
- Do they work alone or as part of a team?
- How long have they had their brokerage licence?
- What are their most recent transactions?
- How well do they know your preferred neighbourhood?
- What is their strategy for promoting your property?
- How will they negotiate complex transactions?
- What is their availability?
- How do they communicate with clients?
To practice in Quebec, a real estate broker must hold a valid brokerage licence issued by the Organisme d’autoréglementation des courtiers immobiliers du Québec (OACIQ). Some brokers also have Quality Customer Service certification from the Québec Federation of Real Estate Boards (QFREB), an additional process that highlights the quality of services offered[3].
Focus on your expectations and needs
Once you have made your
choice, you will need to provide your real estate broker with as much
information as possible so that they can to do their job properly. To do this,
you should prepare a detailed list of your needs, wants, and search criteria.
Here are some key points that should be defined before you meet for the first time[4]:
- Your budget
- Type of property you are looking for
- Essential property features
- What is important to you, but not necessarily essential
- Neighbourhoods you’re interested in
- The best time to move
Also, remember to include all the nearby services that are important to you: public transportation, schools, grocery stores, pharmacies, medical clinics, restaurants, etc. To complete this exercise, think about both the current and future needs of all members of your family.
The business relationship with a real estate broker is first and foremost based on trust. With this in mind, feel free to discuss your concerns or issues with your broker, and to ask any question you have. This will maximize your chances of concluding a satisfactory real estate transaction.
See also:
Selling with a Real Estate Broker: 6 Myths Deconstructed
Buyer or seller: who pays the real estate broker?
A Real Estate Broker Helps You Keep Your Cool