Many times buyers avoid using the services of a broker under the mistaken belief that it costs them money - or that they will be able to negotiate a better deal directly with the seller or seller's broker. This can be an expensive mistake. If you are negotiating directly with the seller or seller's broker, you may not be taking advantage of the best deal available in the marketplace today! You can have your own broker, a Buyer Broker who is committed to using the experience gained through hundreds of successful negotiations for your benefit - at no charge to you! Your broker can be paid from the same commission that the seller's broker is paid from - by the seller. An experienced broker can help you avoid the other costly mistakes outlined here, and make your home buying experience an enjoyable, stress-free one! It is important for buyers to know and understand for whom the broker helping with the house hunting is actually working. The broker may be working as a sub broker - representing the seller's best interests during negotiations - or as your broker representing your best interests during negotiations. If you are not sure who your broker is working for - ask for clarification. Your broker must fully explain agency as required by the Real Estate Council of Ontario. Before you make an offer to purchase that special home, you must have a good idea what the market value is to ensure you do not overpay. Your broker can prepare a Comparative Market Analysis showing what similar homes have recently sold for, and the difference between the asking and selling prices. This is the same type of report the seller receives when deciding on an asking price. Wouldn't you like to have access to the same information as the seller? Many buyers think that the way to achieve a fair purchase price is by offering low. This is the strategy of the buyer who is not in possession of all the facts essential to negotiating the best possible deal. Many times that type of strategy will polarize negotiations and lead to inflexibility on part of the seller - or worse yet - failed negotiations! If you have chosen your broker wisely, the most effective strategies for this particular situation will be revealed to you. Remember, in the real estate business, using an experienced broker could mean a better deal at the negotiating table with a minimum amount of hassles. Buying a home is a major purchase usually made after spending just half an hour looking at the home. Isn't it worth ensuring you will not be surprised later with deficiencies costing thousands? Your broker can recommend several reputable home inspectors for you to choose from, and will ensure the appropriate clause is inserted in the offer. It is important to understand completely the terms of the Offer to Purchase. Wrong assumptions, poorly written or missing clauses, and not understanding how the clauses affect the purchase, can lead to increased costs or a void contract. An experienced broker can thoroughly explain the agreement to you and help you to fulfill your conditions inserted in the Offer to Purchase. Buying a home is an exciting time and is usually an emotional decision. It is important that those emotions be validated by facts and reason. An experienced broker will help to remove the emotion from the negotiating process and provide you with the information you need to make the right decisions. Knowing how much you can comfortably afford will ensure you are looking in the right price range and prevent you from buying a home that will strain you financially and emotionally. An experienced broker can help you initiate this process and can also recommend alternative sources of financing.