YOUR BROKER, A GATEWAY TO A NETWORK OF SPECIALISTS26 Feb 2018
Buying or selling a home is a complex transaction and it’s essential that you surround yourself with professionals who will guide you through all the steps. Did you know that your real estate broker has access to a wide range of specialists who can help ensure the success of your transaction?
Here's an overview of the professionals who are normally involved in a real estate transaction, and for whom your broker can provide you with referrals.
LENDER OR MORTGAGE BROKER
If your broker recommends a mortgage lender to you, you may benefit from this referral. Because many real estate agencies have agreements with lenders, you could save in interest charges. As with anything else, it is to your advantage to compare the different options available and choose the one that is most beneficial to you. You should know that a real estate broker’s ethical obligations require them to declare any advantage received from the referral.
Some brokers work with mortgage representatives from large financial institutions who are available seven days a week and who can meet with you at your home. In addition, they are in direct contact with your broker, which facilitates communication if deadlines are tight.
A real estate broker’s ethical obligations require them to recommend to their buying clients that they have the property inspected by a professional. Your broker will direct you to inspectors who meet the following four criteria:
- Hold professional liability insurance against errors or omissions;
- Use a recognized inspection service agreement;
- Perform inspections in accordance with a recognized building inspection standard;
- Provide a written report.
Your broker can also recommend land surveyors who are known for their professionalism and who will perform the studies used in the demarcation of the property.
In their daily practice, real estate brokers do business with many notaries, often located in the geographic areas where they are active. They are therefore able to recommend notaries they trust in order to proceed efficiently and effectively in examining the titles and drafting the deed of sale.
If elements such as the foundation, or the air or soil quality require further analysis, your broker has an ethical obligation to protect your interests by recommending that you use recognized experts. Thanks to their extensive network of contacts, your broker will be able to lead you to qualified and competent professionals.