FAQs

BUYERS


Many Buyers do not fully understand the home buying process and what role a REALTOR® plays. The following are some of the most frequently asked questions that Buyers ask or don’t fully understand:

The compensation that a REALTOR® representing a buyer receives typically comes from the listing brokerage. In other words, there is no direct cost for a buyer to use a REALTOR® in a traditional REALTOR®/Buyer relationship. In some circumstances there may be a small cost to the Buyer, but even in these circumstances the total payable amount would not likely be due directly from the buyer as additional funds but rather incorporated into the purchase price of the property.

Yes, as a part of the REALTOR® cooperation policy (RCP) all agents are ethically bound to work with each other and for their clients. Self-Represented parties (SRP) may choose to not list their property on MLS so a REALTOR® may not be able to provide information regarding them without making more inquiries. However, with a Buyer Representation Agreement, your REALTOR® will be able to help you purchase any home.

You should contact your REALTOR® and not the property owner or the REALTOR® listing the property. Having the address, and the agent who has the property listed or even better, the MLS number is very helpful and will assist your REALTOR® in gathering information regarding the property.

A REALTOR® will need important personal documents including your driver’s license, place of employment, job title, some of your banking information (for deposits), an understanding of your personal financial situation, your email address, and your phone number. You will also need to specify any type of information regarding the property you are looking for that is important to you. For example, number of bedrooms, garage size, price, location, and number of bathrooms are common criteria. Other considerations include the school district, type of home (two storey, bungalow, etc.) and room sizes. Keep in mind that a search that is too specific may narrow your list of properties too much while one that is too broad may give you more properties to look at than you have time to go through!

You can go to open houses without your REALTOR®. However, you should inform the attending REALTOR® that you already have your own REALTOR® working for you.

Your REALTOR® should be able to accommodate your particular situation whether it be via email, phone calls, etc. Clients with email capability can receive automatic updates from the MLS system as soon as new listings are entered. Clients who have hired the REAL Collective also have access to secret off market properties through different platforms such as Knokd.

Let the first REALTOR® know that you are unhappy and the reasons why. See if you can work out the issues with them. If you are unable to there may be an opportunity to mutually terminate your agreement.

SUMMARY

When purchasing real estate, a REALTOR® can be an invaluable resource if you remember your responsibilities:

  1. Work with just one REALTOR®
  2. Make sure you tell your REALTOR® everything
  3. Always tell other REALTORS® you are already working with a REALTOR®
  4. Have a Buyer Representation Agreement signed

SELLERS

If it’s your first time or your 10th time selling, there are still nuances to any market at any time. Hiring a local professional is always going to be your best bet and here are some answers to the questions we hear most often.

With client’s peace of mind front and centre, our team of compassionate and authentic industry professionals ensure prestigious service and optimal results. We have a personalized approach to listing every home – based on your individual goals and priorities. Nothing is cookie cutter here!

As every home sale is individual, we are able to offer you commission rates upon request. Our focus is getting you top dollar for your home while providing a premium service experience that is hassle-free. We are available for you throughout the entire process to answer any questions or alleviate any concerns. Reach out to find out more about our flexible commission rates!

The short answer is yes. When you list your home on MLS you will sign a listing agreement which states the percentage that is offered to the cooperating brokerage (the buyer’s agent). 

Our team has a wide and diverse range of expertise; buying experts that focus on investment properties, first-time home buyers, upgrading, retirement and luxury properties. And listing experts that focus on both city and rural properties in Ottawa and surrounding areas. 

Most homes benefit from de-personalizing and decluttering and we will make recommendations on what we think will bring your home top dollar. If you’re interested in having a consultation with a stager we will provide a complimentary consultation so that you can ensure your home is shown in the very best light possible!

When pricing a home, we look at several factors:

  1. The Real Estate Market as a whole
  2. What comparable properties in your neighbourhood have sold for
  3. Your personal goals and priorities 

Our team provides a consistent and robust marketing system that allows us to market your home both locally and globally.

When your home is listed on MLS, any real estate agent (from our team or another brokerage) can book a viewing to see your home. The agent can book online or by phone for a specific time period. Our office will call or email you to confirm that the showing date and time works for you. Most homes have a lock box installed temporarily when their home is listed so that agents can access your home during appointment times. 

It’s not a requirement but it is easier for all parties with one.

Never let anyone into your home without a scheduled appointment. Our system keeps a record of everyone that has entered your home for a showing and confirms their realtor’s identity. 

Your Real Collective listing agent will go through any offers you receive in detail. In a multiple offer situation, they will advise you of the pros and cons of each offer and what considerations should be made when selecting the right offer for you.

We have agents who specialize on each end of a particular transaction: buying and selling. If we are in a situation whereby one of our signed buyer clients would like to buy one of our listed properties, we set up a metaphorical wall between the clients and agents so that we do not run into the potential for any conflicts of interest. Your agent will always represent your best interests, and the other agent will represent those of their client. 

If a home inspection clause is inserted into the offer that is ultimately accepted, the buyer’s agent will schedule an appointment (which can be several hours in length) for the inspection to take place. Generally, the home inspector is looking for issues that may affect the price of the house (structural, mechanical, electrical, or building code issues).

Generally – home inspection clauses are written in a way that gives the buyer the option to let the offer expire if they do not waive the condition by a certain time period. Often though, if an issue is found, the two parties may negotiate and find a solution that is satisfactory to both sides. If both parties don’t agree then the offer will become null and void.

A sale goes firm after all conditions are waived/removed. If an offer is presented with no conditions, the sale is firm when the offer is accepted by the seller. A firm sale also means the property is officially sold.

 

Download the RECO Information Guide and learn more about working with a REALTOR®!