THE RISKS OF BUYING WITHOUT A REAL ESTATE BROKER

WITHOUT ADVISOR TO GUIDE YOU

Buying a property without a real estate broker means depriving yourself of many advantages and exposing yourself to risks and regrettable consequences. The prudent buyer must know what risks he is exposing himself to in order to make an informed decision. Here are some of the disadvantages and risks of working alone.

No precise analysis of the real estate market

The buyer without a broker is deprived of the professional's cutting-edge tools, such as detailed market statistics, which allow him to establish the fair price of the property he is interested in: he therefore risks paying more than the real value of the property. The broker has cutting-edge tools and knowledge of the market which allow him to properly assess the value of each property in a given sector.

No network of experts

The broker has a network of competent professionals who can intervene in the real estate transaction: mortgage brokers, building inspectors, land surveyors, soil analysis specialists, notaries. Without a real estate broker, the buyer could fail to consult the experts who would allow him to make informed decisions, or consult people who do not have the necessary skills .

Less specific knowledge

Real estate is a field that requires significant technical, legal and administrative skills. The buyer may not have all the specific knowledge necessary to present a complete promise to purchase, he may not know the competent professionals to consult to finance the purchase of his house. His promise to purchase could be rejected, the signing of the notarial deed delayed, or he could find himself without a property if he has already sold his.

Less detachment

Emotions play a major role in the decision to buy a property. For some people, "love at first sight" is the most decisive factor in deciding whether or not to invest their savings in a house or condo. Buyers have difficulty with the emotional detachment required and may fail to consider negative elements of the house they are interested in.

Less security

In the event of problems, the buyer without a real estate broker is deprived of all the protections offered by the professional. In Quebec, the real estate broker is subject to the Real Estate Brokerage Act. The services offered by your broker must meet the requirements of the Organisme d'autoréglementation du courtage immobilier du Québec (OACIQ) , and each broker contributes to the Real Estate Brokerage Compensation Fund and takes out professional liability insurance. They therefore bear the responsibility for the transaction, relieving this weight from your shoulders.

SOURCE: https://www.centris.ca/fr/achat/risks-buy-sans-courtier-immobilier