Working with a real estate agent

Things you need to know expand_less

Agents in Ontario must be registered, which requires completing the necessary education, and carrying consumer deposit insurance and professional liability insurance.

Real estate agents provide valuable information, advice, and guidance to buyers and sellers as they navigate the complexities of real estate transactions.

If you are a seller, an agent can:	If you are a buyer, an agent can:
Advise you on market conditions and the best strategy to attract buyers and get the best price for your home Market or advertise your home, including arranging photographs, videos and virtual tours Provide referrals to other professionals you’ll need, like a lawyer or home staging company Arrange and attend home inspections and appraisals Arrange showings for interested buyers Advise you on how to handle competing offers, sharing the content of competing offers, and other aspects of the transaction Vet offers and potential buyers to ensure they can afford to buy your property Negotiate with buyers to achieve the best results, price and terms, for you Guide you through paperwork and closing the transaction successfully	Assist you with getting pre-approvals for financing so you know how much you can afford Make you aware of any tax exemptions you might be eligible for Gather and share information about neighbourhoods and homes that meet your requirements, and arrange to show you homes you’d like to see Make inquiries about zoning, permitted property use, or other aspects of the home Advise you on the best approach in competing offer situations and how to protect your offer information Negotiate with sellers to achieve the best results, price and terms, for you Guide you through paperwork and closing the transaction successfully Provide referrals to other professionals you’ll need (for example, home inspectors, lawyers, or contractors)

If you are a seller, an agent can:

If you are a buyer, an agent can:

Advise you on market conditions and the best strategy to attract buyers and get the best price for your home
Market or advertise your home, including arranging photographs, videos and virtual tours
Provide referrals to other professionals you’ll need, like a lawyer or home staging company
Arrange and attend home inspections and appraisals
Arrange showings for interested buyers
Advise you on how to handle competing offers, sharing the content of competing offers, and other aspects of the transaction
Vet offers and potential buyers to ensure they can afford to buy your property
Negotiate with buyers to achieve the best results, price and terms, for you
Guide you through paperwork and closing the transaction successfully

Assist you with getting pre-approvals for financing so you know how much you can afford
Make you aware of any tax exemptions you might be eligible for
Gather and share information about neighbourhoods and homes that meet your requirements, and arrange to show you homes you’d like to see
Make inquiries about zoning, permitted property use, or other aspects of the home
Advise you on the best approach in competing offer situations and how to protect your offer information
Negotiate with sellers to achieve the best results, price and terms, for you
Guide you through paperwork and closing the transaction successfully
Provide referrals to other professionals you’ll need (for example, home inspectors, lawyers, or contractors)

You will also benefit from the duties the brokerage and agent owe to you as a client

Undivided loyalty

Your best interests are promoted and protected by the brokerage or agent representing you. As a client, your interests take priority over the interests of the brokerage, its agents, and any other party.

Disclosure

They must tell you everything they know about the transaction or your client relationship that could have an impact on any decisions you make.

Confidentiality

Your confidential information cannot be shared with anyone outside of the brokerage without your written consent, except where required by law, even after your client relationship ends. This includes, for example, your motivation for buying or selling, and the amount you would be willing to pay or accept.

Avoid conflicts of interest

They must avoid any situation that would affect their duty to act in your best interests. If a conflict arises, they must disclose it to you and cannot provide any additional services to you unless you agree in writing to continue receiving services.

You have responsibilities as a client

Be clear about what you want and don’t want and make sure you share all information that might be relevant (for example, you might want zoning that permits your intended use, maybe a home office or another specific use, or you might not want a property where there has been a violent crime).
Respond to your agent’s questions quickly.
Understand the terms of your agreement with the brokerage.
Pay the fees you have agreed on, even if an agreement to buy or sell later falls through because of your default or neglect.