The broker fulfills the crucial duty of guiding would-be buyers professionally
Aside from ensuring that a sale goes smoothly, the broker fulfills the crucial duty of guiding would-be buyers through Canada’s complex and rapidly-changing housing market in the first place.
As discussed by the Guelph Mercury staff in a recent piece published on their website, a real estate broker is uniquely positioned to assist “with all the details, including buying rules and the best neighbourhoods to choose in her key markets.”
The piece noted that an intimate knowledge of the industry is the best thing that a housing professional can bring to the table.
“[A broker] can help potential buyers … make the most of the buying experience when moving to the country by answering questions such as which features [are needed] nearby and how many family members plan to live in the property,” Guelph Mercury wrote. “There are some properties that already have separate living spaces set up, but you’ll need to consider the rules of each region about adding separate dwellings for others.”
Aside from familiarity with existing regulations and tax laws, a real estate professional can navigate clients to the exact property that they need.
“[A broker] can collect all of your information and help you find a home that fits the description of what you’re looking for, and within the amount of money you have to spend,” the article said. “If you’re new to Canada and buying a home, [he or she] can help you break down any barriers that are standing in your way of becoming a homeowner.”
January 6, 2016 – The second best sales result on record for December capped off a record year for TREB MLS® home sales in the GTA. Toronto Real Estate Board President Mark McLean announced that there were 4,945 sales reported in December bringing the 2015 calendar year total to 101,299 – a substantial 9.2 % increase compared to 2014 as a whole. Strong annual sales increases were experienced for all major home types last year.
“Home ownership is a quality long-term investment that families can live in while the value increases over time. A relatively strong regional economy in the GTA coupled with low borrowing costs kept a record number of households – first-time buyers and existing homeowners alike – confident in their ability to purchase and pay for a home over the long term,” said Mr. McLean.
“If the market had benefitted from more listings, the 2015 sales total would have been greater. As it stands, we begin 2016 with a substantial amount of pent-up demand,” continued Mr. McLean.
The average selling price for 2015 as a whole was $622,217 – up 9.8 % compared to $566,624 in 2014. The MLS® HPI Composite Benchmark Price was up by a similar annual rate of 10 per cent in December. GTA home price growth was driven by the low-rise segments of the market, but condominium apartment price growth was generally well-above the rate of inflation as well through 2015.
“TREB will release its official 2016 outlook later in January, but suffice to say that the demand for ownership housing is expected to remain very strong in 2016. Despite stricter mortgage lending guidelines and the possibility of slightly higher borrowing costs, on average, there will be many buyers who remain upbeat on the purchase of ownership housing,” said Jason Mercer, TREB’s Director of Market Analysis.