Buying and selling real estate is an exciting journey! One that is best taken with a professional who knows the ins and outs, and current trends of the market. It’s imperative to source a Toronto real estate agent who is knowledgeable, experienced, and well-equipped to deal with the housing type & area of your interest and has an approach and personality that you mesh with as you will be spending a good deal of time together.
You could say picking a real estate agent is a little like picking a partner, and your first encounter is a lot like a first date, so remember to ask the important questions early on! Here are some questions to help guide you on your agent selection!
- Are you a licensed realtor? Sounds simple right? So ask for proof of their real estate license to ensure you are working with a professional that has completed the necessary training and successfully passed the requirements necessary to be legally working with clients.
- What brokerage do you work with? You may wish to learn a little more about their team, company, and their previous experience. Find out where they are affiliated, check out their website, visit the office, or call in to find out if your agent is indeed part of a reputable team.
- How long have you been an agent? If you are looking for someone with experience and knowledge, ask your potential agent about their previous experience and how long they have been in the business. I’m sure they will be glad to share how they got interested in real estate, how long they have been involved, and what their passion projects are within the field.
- How many clients do you work with at one time? While you want an agent that is busy and heavily involved in the market, you don’t want one that is too busy to take your phone calls or unavailable to take you on showings in a quick market where listings are often gone within days of posting. Ask about client load, number of current listings, and general expectations of your client-agent relationship. You should inquire if your agent will be dealing with you one-on-one, or if they have a team that assists with showings and bookings. Your agent should be reasonably accessible and focused on your business.
- What is your area of specialty? Some agents are buying agents, some are selling agents, and some are capable of both. Find out where their experience lies and choose what best applies to you and your situation. The right selling agent will represent you with your best interests in mind, assist with staging, increase potential client traffic, and aim to get you the best price for your home. The right buying agent will go to bat for you in bidding wars, have access to the newest listings, and help make sure you find your dream home. You may opt to go with one realtor for both buying and selling but make sure they are capable and committed to you, the client, not just additional commission.
- What are your fees? It is completely reasonable to ask about costs, fees, and commissions. Fees are negotiable but don’t choose an agent simply because they offer a reduced rate, choose one that is educated, experienced, and has a list of satisfied clients willing to share their testimonials!
- Do you have a list of references? Agents should be happy to share about previous client experience and should have a selection you can contact to discuss their own experience. If the agent says no, be cautious of poor previous encounters. Do your due diligence, and call a few of the references! Find out what the agent is really like when they aren’t trying to win you over with a sales pitch before you are under contract. Find out about their accessibility and nature.
- Do you have experience buying and selling in (enter your city or neighbourhood of search!)? The right agent will have a vast knowledge of the city and its surroundings, the comparable homes on the market, the history of what has sold recently, and a general understanding of the local market. Larger cities with hot markets and limited inventory can be a lot different than rural areas with more significant properties but less immediacy. Find out if they have bought and sold in the area before. Ask how many homes they have helped buy or sell in the past year in that same market. The experienced agent will also have information on schools in the area, expected property tax, public transit, entertainment and more. They should be ambassadors of the city you are interested in! Don’t just pick someone you know because they are an agent, pick someone you know will do the best job in your area!
- If you are going to be my listing agent, how will you help me prepare my home for sale? Some agents will be ready to help organize professional cleaners, have access to staging items, book the photographer and videographer and market your listing with focus and commitment, others will put up their sign and let you do the leg work. Find out what your agent is willing to do and what you are expected to do. Ask around before committing!
- Can you tell me about your previous listings? Ask about how long they sat on the market, the ratio of list price to sales price, ask about how they conduct showings and marketing, and if they are equipped to deal with any specific requirements you may have (ie. I have a dog at home, if a potential buyer calls, how do we deal with Fido being home?)
Your agent meet and greet will be much like a sales pitch, they want to tell you about themselves, their experience, and how they can work for you–but they should never make you feel uncomfortable or pressured into signing a contract. If you aren’t happy with the impression you get from your meeting, move on! Interview a few potential candidates, call their references, and find someone approachable with the same values and integrity that you have! There are some amazing agents out there, and some not-so-great ones, make sure you find the right match for you!
Want to know more about us? We are happy to sit down over lunch or a latte to discuss any questions you may have! Hit us with all the tough ones, I think you will like our answers, and if not that’s ok too–but we’d love the opportunity to tell you why we’d make a great team, and start working together on your real estate journey!
