Choosing a real estate broker for your first home in Montreal

Buying your first home is often the biggest financial decision you'll make. It's also a series of steps you've never taken before: pre-approval, visits, the promise to purchase, inspection, the notary. The broker you choose shapes every one of them. Here's what to look for before you sign a brokerage contract.

1. A broker who explains, not just sells

First-time buyers need to understand what they're signing. Ask how the broker will actually guide you:

Can they walk you through the OACIQ promise to purchase, clause by clause?
Will they help you build a realistic budget that includes the transfer duties (the "welcome tax"), notary fees, inspection and moving costs?
Do they know the programs available to first-time buyers, such as the Home Buyers' Plan (HBP), which lets you withdraw up to $60,000 from your RRSPs, and the First Home Savings Account (FHSA)?

At LJ Realties, education has been part of how we work since 2013. Our videos and articles explain each step, and we take the time to answer your questions before every decision.

2. Trust you can verify

Trust should be checkable. Before you choose, look at:

The licence: every broker must hold an OACIQ licence, which you can check in the OACIQ's public register.
Track record: how many transactions has the broker or agency closed? LJ Realties has completed more than 945 since it was founded.
Client reviews: read Google reviews and broker-review sites, paying attention to how problems were handled.
Clear pay: a good broker explains exactly how they're paid and what the service includes.

3. Real condo know-how

In Montreal, a first purchase is very often a condo. Buying into a divided co-ownership means reading documents you won't see anywhere else:

the declaration of co-ownership and building by-laws;
the contingency fund study, which shows whether the fund will cover major work ahead;
the building's maintenance log;
minutes of the owners' meetings, which reveal approved work and disputes;
the certificate on the state of the co-ownership, which the syndicate must provide.

A broker who knows these documents can spot an upcoming special assessment or an underfunded reserve before you make an offer. We review them for every condo buyer we work with, including in the Sud-Ouest, where our office is.

4. Neighbourhood-level knowledge

Prices and property types vary a lot from one area to the next. A local broker knows recent comparables, upcoming projects and street-by-street details. LJ Realties is based at 1117 rue Charlevoix and works with buyers across Greater Montreal, including Saint-Henri, Griffintown, Verdun, the Plateau-Mont-Royal, the South Shore and the West Island.

Questions to ask at your first meeting

How many first-time buyers did you work with last year?
How do you review a condo's documents before an offer?
Which comparables do you use to judge whether a price is fair?
Who will be my main contact, and how often will I hear from you?
How are you paid?

Let's talk about your plans

Getting ready to buy your first home? Meet the LJ Realties team to talk it through, with no obligation. Call 514-500-4040 or visit us at 1117 rue Charlevoix in Montreal.