Working with a real estate agent

By Laurent Fontaine

May 27 2008

While you are under no obligation to work with a real estate agent or broker, their services may prove invaluable as they have in-depth knowledge of their respective housing markets.

If you decide to work with an agent or broker, take the time you need to find an agent who is right for you.

In Canada, all real estate agents must meet provincial licensing requirements and abide by a strict code of ethics that requiring them to respect the rights of both buyers and sellers. In addition, the seller’s real estate agent pays for your real estate agent via a commission on the sale.

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Choosing the right location
Start by making a list of all the features you want in your new home, then use the list to target your search.
Exploring the neighbourhood
Once you have started narrowing down your choices, explore every nook and cranny of the neighbourhood. Take the time to visit the area at different times during the week, and ask yourself the following questions.
Your credit rating is your best ally
Unless you’re independently wealthy and can pay for your home in cash, you’ll need to take out a mortgage. Before granting you a loan, your financial institution will conduct a credit check to determine your creditworthiness, which is reflected by your borrowing and repayment history.