sign a buyer agent contract?

[CN Tower]

I found you a great agent!

www.mls.ca. He works really cheap!

Seriously though, I would only use a buyer's agent if I felt that the agent had access to properties not likely to be listed on the MLS system. That's rules out about 90% of all properties sold in the GTA. By using an agent you are potentially scaring off listing agents who would have to split a commission on a sale. It's only human nature for a listing agent to want to keep the full commission so why not go in there unemcumbered?

Be smart, use common sense and ask your lawyer any serious questions. The listing agent will happily give you comp data I'm sure but just remember that he owes a duty to the seller not you.

Good luck!

 

[Tuscani01]

www.mls.ca. He works really cheap!

Seriously though, I would only use a buyer's agent if I felt that the agent had access to properties not likely to be listed on the MLS system. That's rules out about 90% of all properties sold in the GTA. By using an agent you are potentially scaring off listing agents who would have to split a commission on a sale. It's only human nature for a listing agent to want to keep the full commission so why not go in there unemcumbered?

Be smart, use common sense and ask your lawyer any serious questions. The listing agent will happily give you comp data I'm sure but just remember that he owes a duty to the seller not you.

Good luck!

Properties aren't listed on MLS right away. By time one shows up on MLS, there may already be offers on it, or it may have already been sold. You can waste quite a bit of time with that. Its great to get a feel for what you want, but there are benefits to using an agent. They get listings right away, and can also check past sales to compare prices, and give you their honest opinion as they are working for you... not the seller.

 

[Tuscani01]

Hi Hank,
sorry for barging in here. I'm not trying to be overly defensive or hijack the conversation you are starting, but I feel it's appropriate for me to respond since you do mention me by name.

I sent you an email to this effect already (please check your email if you have not yet), but I just wanted to post a scaled down version for any interested forum readers:

I apologize if my emails to you came off as meaning I would not talk to you without signing a buyer rep. agreement (BRA). This was not my intended message AT ALL. To be clear, my buyer clients almost never sign a BRA until the moment they submit an offer on a property. All I ask for from my buyer clients is their commitment to me, and in return I pledge my commitment to them.

My understanding of what you were asking of me (based on the emails you sent me), was different from what I am now beginning to understand after reading your forum post.

If you'd like to continue the conversation, you know how to reach me!​

[and now back to your regularly scheduled UT forum. haha]

That was pretty much the same deal I had with my agents. I used two for my search and each one focused on a different area (One covered anything West of Yonge, the other had everything to the East). While East lost out as I chose the west end, I did pledge to refer the agent I worked with in the east end, and referrals are huge in the business.