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RE4 - The Canadien Champion, Tuesday, March 17, 1998 Realtors help smooth the home-buying process Finding the right home, getting a fair price, calculating mortgage rates, figur- îîg out closing cix4s...aIl of these factors and many more make buying a home an overwhelming process. However, a real- tor can guide you through the home buy- ing process and transform this confusing experience into one of the most exciting times of your life. Think of a realtor as a professional who brings buyers and sellers together for the sale of a property. Realtors are licensed real estate professionals who are mem- bers of their local real estate board. Therefore, they have access to the MLS services which are operated by these boards. This service provides realtors with a listing of properties for sale, which could very well includé your "dream home." Who Does a Realtor Work For? A realtor usually works for the seller and, therefore, represents his or her best interests. However, as a buyer, you can stili expect competent service knowing the realtor is bound by ethics and law to be honest and thorough in representing a property for sale. A realtor will provide you with a wide range of services and will not take it for granted that you know ail the in's and out's of buying a home. So, one of the first tl)lings lie or she ildo Ps,îhrroieh- ly expiain what to expect, so you dont encounter surprises along the way. Narrowing Down Your Home Choices A realtor will help you zero in on spe- cific locations for your new home. He or she will also help you decide what type of home you would like to buy since there are many options such as new homes, resale homes, and condomini- umns. In addition, a realtor will help you differentiate between your needs, wants and what you can actually afford. This profile of your home is compared with what's available on the market. A realtor will then accompany you as you view houses and help you assess whether or not the property and price is right. When you actually discover your "dream home," a realtor will help you iselect the most appropriate mortgage option and obtain financing at the most attractive prevailing rates and terms. Negotiation Skills Negotiating is one of the realtor's areas rof expertise. So, you can rely on him or her to arrange a fair price for your home.v A realtor will assist in negotiating anv o1lcr, ici as a nediair o inih (s er, any potential conflicts between y ou anda the seller and draw up a legally bindingr contract.1 The best part about using a realtor isa that the fees for his or her services are usually paid by the seller of the property.f So, when you and the seller come to an 1 agreement on the price of your newr home, that is the total price you will pay,i excluding the legal fees, taxes etc. Selecting a Realtor So, how do you go about finding a real- tor to help make your home buyingi dreams a reality? Actualiy, there are sev- eral easy ways to make your selection. One of the best ways is to ask your friends, relatives and neighbors if they can recommend a realtor who they have used in the past. Another way to become familiar with realtors is to check local newspaper advertisements. Many of them operate in specific areas where they know the prop- erties and locations very well because they research aIl the listings and inspeet many of the open houses. Therefore, they rhave an excellent idea of the market van of comDaraI- *500U I I _________ 7 ACRES DREAM HOME COUNTRY RANCH $359,900I VILLAGE OFi LAI'IrDLLLvILLIL ýVUUU NeUdg, 4 buâm home 1* dWestee i eW ig umM ig WqmnlageIdenwlb barda abi a ss lic custom bult ail brick 2 storeyborne. Open floor plan, flnished on 3 irvels - main floor dininq room,flving roomf, den e" M eowb m% dméyoor2 1Wh p en bi L CdW S xiUnn thUe family rcoinand a nunoom. 3 spadous bedoms with master ensuite. Walkot frnm lower leve rec room wt bar and a w o d i ~de « 4 â W I ,n W I n So t cU 1 * a* u bwt O Wbair & o h n W i e w 4 - 5 0 0 l t i a p p l r s a e s b i i i n l J h e dF m ~ 1 È o * ~ V er y p * ti S i l , 9 M a i e sr o o m , c e n r a l v a c , â s i g t s , 9 R f i o d g s o n m a i n l e v e l . T r i p l e c a r < r a g e , lm ns p n k e r s y e m a l o n 1 a c r e l a n d s c p ed visrt open houses in an area where you would like to buy your home. You can a1lso check the i cal estate sigins n that area l'or naines oi tcaliti s. Il (eil"IC'ta naine on the sign, eall the phone numnber iisted on it and ask to speak to the broker- age firm's 'expert' in the area. One way that some home buyers look for a realtor is to contact a real estate board. However, boards do not provide referral services for realtors. The only information they can provide about a specific reaitor is whether or not he or she is a board member. Once you've narrowed down your choices to a couple of realtors, make sure that you interview them to find out which one has the best combination of experi- ence and knowledge in the type of home and area that you are interested in. 0f course, personality, reliability, and repu- tation should be strong factors in your decision. Also ask them for references from previous buyers and sellers who have worked with them. Once you have selected a realtor, remain loyal to him or her if this individ- ual has eamed your trust. Keep in mind that he or she will be spending a lot of time and effort to help you find the right home and will not be paid until the trans- action is completed.