Start off on the right foot with the distinctive advantages of a broker

The purchase, sale or lease of an immovable requires extensive technical skills and knowledge. Did you know that a real estate transaction can involve up to a hundred different tasks? The same applies to the search for a mortgage loan.

By deciding to be represented by a broker, you will know that you can trust him to protect and promote your interests. As a professional, he is dedicated to your satisfaction and the successful completion of your transaction.

Here are some of the distinctive and significant advantages that only a real estate broker can give you:

  • Help and guidance throughout the entire process;
  • A secure transaction with concrete support;
  • Up-to-date knowledge and the expertise of someone who knows his trade;
  • Mandatory collaboration with other brokers for a smooth transaction.

Here are some of the advantages specific to a broker working in the field of mortgage brokerage:

  • Expert advice throughout the entire process of obtaining a mortgage loan;
  • Access to several competing financial institutions;
  • Substantially lower rates.

To learn more about the role of mortgage broker, visit the Mortgage section.

SUPPORT AND GUIDANCE

The broker understands your needs and knows the real estate market well. You will benefit from his expertise, informed opinions and presence at every step of your transaction. Because he is very familiar with the sequence of events involved, he can quickly adapt to unforeseen events and can anticipate and avoid potential difficulties.

He will make all the necessary verifications and provide you with all the information pertaining to your transaction so that you can continue going about your normal business without worry!

For example:

  • If you are selling, he will advise you on the price you should ask for your property, promote it effectively, field all calls, coordinate visits and report back to you.
  • If you are buying, he will promptly inform you of any new property coming on the market that meets your needs, schedule visits and visit the properties with you.
  • In mortgage brokerage, the broker will take all necessary steps to find you the best mortgage loan, and then present you various options such as a fixed or variable rate, 5-year or 10-year term, etc.

Your broker will also handle negotiations and draft all the documents that are needed to facilitate a smooth transaction. This is a significant advantage!

SKILLS AND EXPERTISE

A real estate broker has the necessary training, experience and knowledge to carry out your real estate transaction in accordance with your needs.

He also has all the essential skills needed to make the transaction a success:

  • He will receive and analyze all documents pertaining to the transaction to help you make the right choices;
  • He will handle the negotiation process, where an expert’s know-how is crucial;
  • Thanks to his expertise and the tools at his disposal, he can advise you on the best price to ask or to offer.

How do you know that your broker is up to the task? Your broker must pass a rigorous entrance examination before being licensed to practice. In addition, he has access to a wide variety of continuing education activities offered by the OACIQ, in addition to a number of mandatory training sessions required by the Organization.

This assures you that your broker masters all aspects of his profession, that his skills and knowledge are up-to-date, and that he has all the tools he needs to assist you in your process. The broker’s basic training is governed by the Real Estate Brokerage Act. For more details on this, click here.

YOUR TRANSACTION IS PROTECTED

Real estate and mortgage brokerage is a regulated practice. The OACIQ is responsible for the application and enforcement of the Real Estate Brokerage Act: it determines the conditions of practice of the profession, in addition to providing effective protection for consumers who use their services for their real estate transactions. This means that several recourses are available to protect you and your transaction.

The obligation to verify, disclose and advise is another cornerstone of the broker’s work. He also has an obligation to protect the confidentiality of thepersonal information you provide to him.

With a mandate to look after your interests, your broker uses the mandatory and recommended forms published by the OACIQ. Doing business with him also gives you access to the OACIQ Info Center and the Assistance Department for help or information when you need them.

For example:

  • If you are selling, your broker will protect your interests by completing the Declarations by the seller of the immovable form with you. This is an added value that will minimize the risk of legal action down the road.
  • If you are buying, your broker will make sure that you fulfill the conditions outlined in your promise to purchase.
  • In mortgage brokerage, your broker will only do business with recognized lenders and will fulfill the duties and obligations stipulated in the Real Estate Brokerage Act.

For more details, visit the Protections section.

COLLABORATION BETWEEN BROKERS

Real estate brokers have an obligation to collaborate with each other, in order to bring as many transactions as possible to their successful completion. In fact, some two-thirds of all real estate transactions are carried out in collaboration between the buyer’s broker and the seller’s broker.

Your broker is trained to use best practices in order to collaborate successfully with his colleagues. Their combined network of buyers and sellers who are ready to purchase or sell right now represent a great advantage for you!

SOURCES : OACIQ

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