First Time Home Buyers Guide Vancouver – Episode 3 How to Hire a Realtor!

Hiring a First Time Home Buyer Specialist in Vancouver

In Episode 2 of the Vancouver First Time Home Buyers Guide we talked about how to figure out where to buy. Once you have decided on neighbourhood, it’s time to select a Realtor.

How Much Will it Cost Me to Hire a Buyers Agent?

Nothing!? Yes, 9 times out of 10, a Buyers Agent is paid a finders fee by the Sellers Agent if the Buyer that is working with the Buyers Agent purchases the Sellers Agents listed property!

Furthermore, the Buyers Agent you hire is REQUIRED to disclose to you the Buyer in writing the amount they are getting paid by the Sellers Agent. To learn more, check out this great video on Buyers Agent Remuneration Disclosure

Looking for a Vancouver Buyers Agent? We Can Help!

My team of First Time Home Buyer specialists are focused on all neighbourhoods in the City of Vancouver and are available to help you with  your search for your First Home in Vancouver. Call 604-763-3136 or Email me to set a time to discuss your needs.

Interview Time!

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Meeting a Realtor in action is very good way to interview. Visit an Open House held by Realtors you’re interested in is a great low pressure way to meet them and see if you click. Ask lots of questions!

This is what you should be looking for in a Realtor:

  • Demonstrable Local Knowledge, experience, and results (i.e. Sales of Listings in the area)
  • Professional – Complete Honesty, Integrity, and Reliability.
  • Good Attitude – Answers calls and emails promptly & politely, has a good relationship with other Realtors and other colleagues
  • Good Reputation – If you Google them or ask people in the know and bad things are said about the person you’re thinking of hiring, think again.
  • Motivated – They should be keen for your business and work hard for it.
  • Up to date web based research tools for Real Estate
  • Works full time as a Realtor in the area of interest

Looking for a Realtor outside the City of Vancouver?

If you don’t find a Realtor with the above process or you don’t have time to find one, feel free to give me a call at 604-763-3136 or EMAIL ME.

I have a great network of good Realtors across Greater Vancouver that can help you with your search.

Check out the next Video!

Vancouver First Time Home Buyers Advice Episode 4 – How to Search for Properties

I welcome your questions and thoughts in the form of a comment down below!

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  Comments: 9


  1. Great tips Mike.

    Might want to find an external mic for that video cam, that internal mic is terrible.


  2. Hi Rod,

    Good to hear from you.

    I hear you there! I was having an issue with too much light so I shot the video on a balcony with lots of reflected light, BUT it was very echo-y.

    I gotta buy a bounce board for the high light days!

    Whats new with you?

    Thanks!


  3. Hi Mike, I am a first time home buyer and just starting my search. I am thinking of using a friend who is a new realtor to help me, I will say he is a realtor with one of the big realty companies in Vancouver. He is asking me to sign an exclusivity agreement with him which I am a bit nervous about as other people have told me that is not normal. What is your take on the situation? Thanks for your help.


    • Hi Jennifer,

      Good to hear from you and thank you for taking the time to ask this great question!

      If I understand correctly your friend who is a Realtor wants you to sign an Exclusive Buyer Agency Contract.

      This document ensures that the Realtor who has you sign this gets paid if you buy a property with another Buyers Agent.

      This document is distinct from the “Working With a Realtor” Brochure which does NOT bind you or the commissions payable on your property purchase. Realtors in BC are required to get the Working with a Realtor Brochure signed by all Buyers who want to work with us.

      Now, back to your original question.

      I NEVER use an Exclusive Buyers Agency Agreement.

      I have never felt the need for these agreements as I work on the basis of trust.

      If someone wants to work with me, I make it very clear at the beginning that I expect they will write an offer with me and only me so long as they are working with me.
      If the Buyer says they are comfortable with this, I take this as a verbal agreement that they will write an offer with me and off we go.

      If I feel I cannot trust a buyer to write an offer with me, I probably won’t expend too much energy assisting them.

      The beauty of working on trust is that if things don’t work out between myself and the Buyer they can fire me at anytime with minimum hassle.

      I have never gone over an Exclusive Buyers Agency Agreement, but if you as the Buyer are not happy and want to fire your Buyers Agent, I presume ending such an agreement could be quite a hassle to end.

      I suggest if you are concerned about signing this document, have your lawyer review it to give you an opinion before you sign it. This same advice goes for all documents you may not understand or are unsure about.

      What are your thoughts?

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