Moving up or down the property ladder likely means you will experience both selling and buying real estate at some point. For most people, selling or buying a home isn’t something you do every day. It’s a significant transaction that only happens a few times in a person’s lifetime. 

We know that working with an experienced Ottawa real estate team is your best bet to make sure your buying or selling experience goes smoothly, but can you use the same Ottawa agent to buy and sell? Or do you need a specialist for each transaction? 

The answer, like many things in real estate, depends on the situation. Let’s take a closer look. 

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What’s the Difference Between a Listing Agent and a Buyer’s Agent? 

A listing agent is a real estate agent who represents sellers. This person works with home sellers to prepare, list, show, and negotiate their home sales. Listing agents are bound to perform due diligence and do everything they can to advocate on behalf of their clients, the seller. 

A buyer’s agent is an agent who represents homebuyers. These agents are bound to perform due diligence and work on behalf of their clients, the buyers. A buyer’s agent will educate buyers about neighbourhoods, show properties, and negotiate with listing agents on the buyer’s behalf. 

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Learn more about our buying and selling services here:

• How We Help Sellers
• How We Help Buyers

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Can a Real Estate Agent Be Both a Listing and Buyer’s Agent? 

Most real estate agents will be proficient in working with both buyers and sellers. Some real estate teams may have buyer specialists and seller specialists, but for the most part, agents can seamlessly help both types of clients. 

Can I Buy a Home Directly from a Listing Agent?

Technically, you can buy a home directly from the listing agent without representation from a buyer’s agent. However, it is not as advantageous.

A listing agent is required by law to look out for their client’s best interests by representing the seller. Buying a home directly from a listing agent could put you at risk of overpaying or not getting the best possible conditions or closing for your purchase. 

It’s much better to use a buyer’s agent to facilitate the purchase of a home. A buyer’s agent will ensure your interests are represented in all aspects of the deal.

Does Working with a Buyer’s Agent Cost Money? 

One of the biggest misconceptions about working with a buyer’s agent is that it will cost you money. This is not the case. While some buyer’s agents do charge fees for their services, the vast majority involve no direct cost to the buyer.

The reason for this is due to the structure of real estate compensation. Agents are paid in commission, and in Canada, the seller is usually responsible for paying that commission. 

For example, let’s say a listing agent charges a 5% commission on the sale of a home. The listing agent will collect that fee and typically split it with the cooperating buyer’s agent, meaning the buyer’s agent and the listing agent are each compensated 2.5%. In this example, the buyer bears no responsibility for paying these fees.

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Discover more reasons to work with a local Ottawa real estate team right here:

• 6 Advantages of Buying a Home with a Local Ottawa Real Estate Team
• 9 Benefits of Selling Your Home with an Ottawa Real Estate Agent

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Is it a Good Idea to Use the Same Agent to Buy and Sell? 

The short answer is: yes! Although buyer’s agents and listing agents have different roles and different priorities, working with the same agent on the sale of your existing home and the purchase of your new home is actually a good idea. Here are the main reasons why: 

• You will build a deeper rapport with your agent and they will get to know more about you and your family. 
• Your agent will have precise insights into your reasons for selling and your wants/needs in your next property.
• Working with the same agent will help you take advantage of their network of buyers and sellers. 
• Your agent will have intimate knowledge of your financial situation, helping you to find the right property for your budget. 

Working with an Ottawa real estate team is also beneficial since multiple agents on the team will often collaborate with each other and combine resources to provide even better service and results for their clients. 

Wondering what it’s like to work with The Chell Team? Read our latest client reviews right here.

How Do I Know if I Have Found the Right Real Estate Agent?

Finding the right agent to help navigate your real estate transaction is like finding a great friend who also just happens to be an expert in real estate. You should feel comfortable speaking informally with them while also being satisfied with their experience and expertise. 

Your Ottawa real estate agent is your partner in one of the biggest transactions of your life, so it’s important that you feel comfortable asking questions and working together as a team.

If you are hiring a listing agent, be mindful of these traits: 

• They listen to your concerns and answer your questions thoughtfully and thoroughly. 
• They educate you on current market conditions, comparable sales, and take you through their reasoning when it comes to their listing strategy. 
• They accept your feedback and communicate clearly. 
• They answer the phone and reply to emails in a timely manner. 

If you are hiring a buyer’s agent, here are some traits to look for: 

• The agent listens to your wants and needs and shows appropriate properties based on your parameters. 
• They ask plenty of questions about your ideal property and seek feedback on the properties they show you. 
• They are not pushy when it comes to making offers.
• They educate you on the property and are forthcoming and transparent. 

Whether you are thinking about buying, selling, or both, we can help! Contact us today at 613.829.7484 or email us at mail@chellteam.com.