How much does it cost to have a REALTOR help my buy my house?
When a person lists their home with a real estate professional, they agree to pay that agent a commission for listing and marketing their home to potential buyers.
Commission rates vary depending on a number of factors, but in Winnipeg this commission rate hovers between 4%-5% of the sale price. The listing agent in turn will offer a portion of that commission (usually half of it) to any agent working with a buyer.
Do I save money working with the listing agent instead?
The net price you pay does not change, but you have had to do all of your prospecting yourself and in the end you did not have a professional working for you whose principle concern is your own best interest.
How soon do I need a REALTOR?
Your Realtor can direct you to a number of resources to aid in starting your search – starting an MLS search, referring you to a financial institution for a mortgage pre approval, and many other steps are a great place to start the process before you ever set inside of a home that is for sale.
How much of a down payment do I need to purchase my first home?
However, because this is a lofty goal for many first time buyers, institutions such as CMHC (Canadian Mortgage and Housing Corporation) exist to protect lenders against mortgage default and allow consumers to purchase homes with a minimum down payment of 5% – with the inclusion of an insurance premium to the total debt associated with their home purchase.
Should I buy a house or condo?
A young couple, newly married, with dual incomes and two pets has very different housing needs from a single professional with no pets and limited spare time.
In the end, regardless of whether you choose a house or condo your REALTOR should be working to show you properties that will not only meet those needs but also be sound investments for your future.
How long will it take to buy a house or condo?
In the Parkes Real Estate Team we have seen buyers decide on a new home in as little as a weekend to as long as a few years!
Why Work With a Team?
When you work with one of us, you work with all of us, and we are all there to support one another with that collective knowledge.
Buy or Sell?
Get in touch today to start you real estate journey with us.