First Time Home Buyers - Should You Sign a Buyer Agent Contract?

You have been saving your pennies. Waiting for thebelieve that is the case. I think, they just weren't certain
opportunity to buy that first dream home. Finally, thewhat exactly they wanted and something different
day has arrived. You have enough for the downcaught their eye.
payment. Now what do you do?Once you start looking at various homes, observe
The first thing, you should do, as one of the first timeyour interactions with your REALTORĀ®. Are they
home buyers in Canada, is find yourself a Buyersoverly positive about every home? Do they try and
Agent. Yes, that can be a very daunting task. With sominimize negatives when you point them out? Do they
many REALTORS (R) in your area, where do youtry and convince you to buy a certain house or rush
start? You can ask friends or family foryou to do so. Yes, some homes sell very quick, but for
recommendations. You can do a Google search. Youthe most part they take a few weeks or even
can check the local Real Estate Guide. Once youmonths. Owners are less willing to move on their price
have chosen your REALTOR (R), they may or mayin the first couple weeks. Why would they? They have
not have you try and sign a home buyer contract.all these excited new first time home buyers suddenly
Personally, I recommend you never sign one of these,coming to look. Of course, if you wait, you risk losing
unless there are a couple of conditions to protect you.that home. You have to weigh the risks and make that
First, insist you can buy privately, if you find a home notdecision. But, it should be your decision, without being
listed by an Agent (without having to pay a fee to thepressured.
REALTOR (R) if they didn't assist you). Second, makeLastly, make sure your REALTOR (R) is truly working
sure you can cancel anytime, with no financial penalty,for you. Try and avoid Dual Agency situations, at all
if you aren't happy with your real estate salesperson.cost. If you aren't sure how that works, do some
Why should you get stuck working with someone youresearch in your favorite search engine to find out
are not happy with?"Who Is Representing You?", to understand the
Now that you have chosen a salesperson to worksometimes confusing "Agency".
with, sit down with them to discuss what you areThe good news, if your buyer agent isn't living up to
looking for. Over the years, I have heard the termyour expectations and you followed my previous
"Buyers are Liars", when someone has boughtinstructions regarding signing the contract, you will be
something completely different from what they toldable to replace them with someone who will.
the salesperson they were looking for. I really don'tI truly hope you find the home of your dreams!