When searching for a property to buy, we tend typically to focus on the sale price: the number that appears on Centris or the listing. But a real estate transaction involves many less obvious—and sometimes wholly unexpected—fees and expenses!
It’s exactly in moments like these that a real estate broker’s guidance proves most valuable.
The Importance of Being a Well-Informed Buyer
We all hope to find a property we absolutely love. But the beautiful flooring and brand-new kitchen might conceal potential issues buyers don’t even know they should be looking out for, such as
- a sharp increase in property taxes expected next year;
- major nearby roadwork for the next 3 years, causing noise and dust;
- a roof that will need to be replaced within 4 years;
- cracks in the foundation;
- an aging French drain;
- an outdated electrical service panel;
- renovations carried out without a permit;
- no water or pyrite test;
- unusually high power bills.
Such facts probably won’t be included in the property listing. A thorough pre-purchase inspection will uncover many of these issues, while an experienced estate broker’s professional judgment ensures nothing is overlooked.
1. Conduct a Market Analysis to Identify Future Costs
Brokers have access to data that members of the public never see: sales history, internal notes, previous reports.
A broker can tell you
- if municipal taxes in the sector have risen year after year;
- if renovations will be required due to a new municipal bylaw (e.g., replacing the septic system, bringing a water intake in line with new standards);
- if average home maintenance costs are higher in this particular neighbourhood;
- Etc.
This information allows you to anticipate expenses you might never have considered otherwise.
2. Negotiate Based on the Property’s Actual Condition
A broker looks beyond appearances to spot what the inspection report reveals but what the average buyer might miss:
- The age of the windows
- The quality of the wiring
- The state of the roof
- The renovations’ cohesiveness
If they notice a weak point, the broker uses this information as leverage during negotiations. They can get you
- a lower asking price;
- a renovation credit at closing;
- a clause requiring certain repairs before the deed signing at the notary’s.
Buyers who decide to go it alone rarely venture to request any of this or are simply unaware that they can.
3. Protect the Buyer With Strong Provisions
Real estate contracts contain technical clauses that can make a significant difference when issues arise.
A broker may recommend
- a broader inspection clause to cover structural defects;
- a full disclosure clause regarding any previous renovations;
- a request for access to maintenance invoices (roof, drains, etc.);
- a hold on funds clause if any doubts persist.
These clauses safeguard the buyer against surprises that may lead to unexpected costs. How reassuring!
4. Evaluate the Impact of Undeclared Renovations
Sometimes homeowners carry out renovations (big or small!) without obtaining a permit first.
Brokers have generally visited hundreds of properties. They can therefore recognize certain signs with the help of a building inspector:
- a lack of invoices
- varying finishes
- substandard materials
- a discrepancy between the house’s age and its true state
If they have any doubts about a renovation, the broker can ask for
- verification by the municipality;
- documentation proving compliance;
- a price reduction.
This prevents buyers from becoming liable for non-compliant work and potential fines.
A qualified real estate broker does more than just show you houses: they protect your investment, spot potential pitfalls, and work to ensure you pay a fair price. In short, they turn a purchase into an informed decision.
