The real estate profession is structured so that its practitioners will cooperate with one another in the buying and selling process.  Through a system called the multiple listing service (MLS), sales associates submit information about homes their companies have listed for sale so that all other sales associates, regardless of where they work, have the opportunity to sell those listing to prospective buyers.  That way, you have access to almost all of the homes available for sale in your market.  However, not all real estate companies participate in the MLS, so be sure to ask sales associates you’re working with as to whether or not they do. 

Most people know that sales associates are paid by commissions, but not everyone understands exactly how commissions work.  The listing broker generally splits the commission with the selling broker, and the individual sales associates who works for those brokers receive a portion of the commission paid to their brokers. 

If your REALTOR® acts as your exclusive or limited agent, then they may also negotiate on your behalf, representing your interests throughout the transaction.  Agency laws vary from province to province.  Be sure to discuss this issue with any agent you choose to work with. 

Above everything, good sales associates will put you in touch with the market.  They will select neighborhoods with homes and amenities that best meet your needs and wants.  By scanning the MLS books or computer, they should also be able to locate just about every home on the market that fits your price range and other buying criteria. 

To help find you a realistic price range, the sales associate will often “qualify” you during the initial counseling interview.  The sales associate will ask a series of questions to determine what price home you can afford.  When you do select a house and your offer is accepted, the sales associate can recommend financing alternatives. 

After the sales associate has determined your price range and type of property you want, you’ll begin a series of tours.  Don’t be discouraged if the first three days turn up nothing.  A good sales associate will help you keep searching until you find your new home. 

Sales associates will also present any offer you make on a home.  If you ask the sales associate you are working with “Do you think the Sellers will drop their price by $10,000?” the only answer the sales associate can give you is “This is the price they’re asking. The only way to find out whether they’d accept less is to make an offer”.  Conversely, sales associates that are working as the agent for the Seller are required to disclose to their clients anything they know about your bargaining position, so be discreet. 

After you have found the home you wish to buy, and have negotiated a contract with the seller, the sales associate can also assist you with the selection of lenders, home inspectors, attorneys and assist you with the entire closing process.