Canadians satisfied with brokers — study

by Gerv Tacadena27 Nov 2019

Canadian homebuyers had good experiences with real estate professionals this year, according to a study by Canada Mortgage and Housing Corporation.

Around 78% of buyers interacted with a real estate agent, up from the 61% who consulted a professional in 2018.

"There was a strong increase in buyers' perceptions of the value of working with a real estate agent," the study said.

In fact, the proportion of homebuyers who recognized the value of using an agent rose from 28% in 2018 to 35% this year.

"Some of the key reasons buyers highlighted for this trend were an appreciation for the advice they received from their agent and their agent's attentiveness to their specific needs," the study said.

The top reasons why buyers used a mortgage broker were to get a better interest rate and to save time. Roughly three in four buyers who used a broker said their mortgage broker gave them advice on rates and terms.  Around the same said they were offered advice on choosing a mortgage they could afford.

The majority of the buyers surveyed said there were satisfied with their brokers and would likely recommend them to their friends and family members.

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