A. In short, the answer is no. Although it is not illegal to use the same agent as the seller, it is usually not in the best interest of the buyer [or the seller] to do so. The listing agent works for the SELLER and owes them the five duties of CARE, OBEDIENCE, ACCOUNTING, LOYALTY and DISCLOSURE. Should you ask that agent to act as your BUYER agent on the same property, he or she would obviously not be able offer you the same five duties. So, it's best to have an agent who works exclusively for YOU - the Buyer - and who then owes you those same duties of CARE, OBEDIENCE, ACCOUNTING, LOYALTY and DISCLOSURE. Having said that, you can choose a buyer's agent within the same brokerage company as the one where the seller's agent works and both parties will enjoy full exclusivity.

Q. How much does it cost me to employ a Buyer's Agent?

A. In most cases, nothing. For MLS-listed properties, the listing agent typically shares the seller's commission with the buyer's agent. However, the buyer's agent contract will include a provision for payment of the buyer's agent commission and sales tax by the buyer, at closing, if the property is not listed and is sold either by builder, auctioneer or owner.

Q. How should I choose a buyer's agent and for how long do I have to employ him or her?

A. You will need an agent who is going to understand exactly what your relocation needs and motivations are. To do this you should feel comfortable and confident in disclosing all the relevant requirements to the chosen agent. The internet age has made not only the search for houses but the selection of listing and buyer agents a far more objective exercise. National, local and personal realty web sites offer a wealth of information to assist you. If you prefer word of mouth recommendations, speak to neighbours who have recently moved into your area. The length of time for which you employ your buyer's agent is almost entirely up to you. You could sign the agreement for one hour, to view one specific property...or for one year, to search for potential long-term property investment. You might start with a shorter period and extend the contract if the agent earns your trust. One constraint is that the agency agreement must eventually run through the date of closing, [after which it will automatically expire.]

Q. Won't I save myself a large amount of commission by selling my house myself?

A. In a few cases, the answer is yes; however, market surveys have shown that - despite all the grand claims by the sell-it-yourself web sites - most FSBOs [For-Sale-By-Owner properties] take longer to sell and cost significantly more in advertising and ancillary costs than originally claimed. There is also no 'support network' for the FSBO seller, if [as frequently happens] complications occur between accepted offer and closing. Remember also that, in most cases, you are competing with other similar properties to attract the qualified buyer...and this is not just about price but multiple, factors from appearance to obtaining loan approval. Our Realtor team has been specifically trained to recognize and handle all the buyer motivations in property transactions. It's what we do!

Q. How do I know if I'm ready to buy a home?

A. You can find out by asking yourself some questions:-

1) Do I have a steady source of income [usually a job]? Have I been employed on a regular basis for the last 2 - 3 years? Is my current income reliable?

2) Do I have a good record of paying my bills?

3) Do I have few outstanding long-term debts, like car payments?

4) Do I have money saved for a down payment?

5) Do I have the ability to pay a mortgage every month, plus additional costs?

If you can answer "Yes" to these questions, you are probably ready to buy your own home.

Q. How do I select the best Real Estate Agent?

A. Start by asking family and friends if they can recommend an agent. Compile a list of several agents and talk to each before choosing one. Look for an agent who listens well and shows that they understand your needs, and whose judgment you trust. The ideal agent knows the local area well and has resources and contacts to help you in your search. Overall, you want to choose an agent who makes you feel comfortable and who can provide all the knowledge and services you need.