The Three Whos of Homeownership
Picture of Brianna Frith

Brianna Frith

Author, Founder at Endhome

According to Statista, there were 532,545 house sales in Canada last year. Breaking that down even further, around 1459 houses will be sold per day in Canada in 2022. 

Each real estate transaction is unique, and with such a large quantity of purchases, there are bound to be some unique and difficult transactions. What matters is how the industry accounts for these instances. 

It is a simple solution: have the right professionals support a client. 

But what does that mean? Countless industries go into making a smooth real estate transaction, but three key professionals can make the process that much smoother. Here are the three key professions that you should consider hiring to help with a property purchase:

Real Estate Agent: A real estate agent is a licensed professional who brings together a buyer and a seller in a transaction, which is traditionally the avenue through which properties are exposed to the market. Real estate agents can help clients find homes that fit specific criteria, provide information on local market conditions, and guide clients through the negotiation and closing processes. Most importantly, for those who wish to sell property, hiring a real estate agent allows your home to be listed on the multiple listing service (MLS). The MLS can only be used by real estate professionals and helps promote the availability of properties. Since a property must be listed with an agent or broker to be advertised on MLS, having a real estate agent truly gives you an edge when selling. 

Mortgage Broker: A mortgage broker is an individual or agency that will match up a lender and a borrower. Someone looking for a loan could always get a loan directly from a lender; however, this can be confusing and may not result in the best deal. This is where a broker will step in! Though brokers were typically used for borrowers who had difficulty obtaining a mortgage, they are now often hired to help simplify shopping for the best terms. 

The benefit of having a mortgage broker on your team while making a real estate purchase is truly the key to a financially sound transaction. Mortgage lenders can provide many services to assist in the purchase of a home, but it is the assistance of a broker in navigating those services that yields the best results.

Real estate Lawyer: A real estate lawyer is a professional who specializes in real estate transactions and can help a client review and understand the legal documents involved in the buying process, including the purchase agreement and closing documents.

They can play an important role in the home-buying process, helping ensure that a client’s interests are protected and that the transaction goes smoothly by performing a variety of tasks.

Reviewing and explaining legal documents, conducting a title search, and handling disputes or issues that arise during the closing process are all tasks that an experienced real estate lawyer will handle with ease. Having someone you can put your trust in to represent you in one of life’s most important purchases is simply a key to success.

If you’d like to learn more about the benefits of working with a real estate lawyer, read our past blog post on the benefits of real estate lawyers and working with Endhome

In summary, hiring a team of experienced professionals who can provide you peace of mind and protect your interests throughout the home-buying process is essential. Hiring these professionals can help ensure that the buying process goes smoothly and that any client can stay well informed about their purchase or sale.