It is not difficult to work with A Toronto real estate agent effectively. Here are 10 tips to keep in mind as you work with you real estate agent.
1. Choosing the real estate agent is as important as selecting your house
Make sure you take your time to conduct a comprehensive agent selection process. This involves developing a list of potential agents. You can ask friends and family for recommendations as well as look at for sale signs in the neighbourhood that you want to live in. Once you have developed this initial list then you should do as much research as you can to find out about these agents, Google will become your best friend. From here short list the agents that you think meets your needs and interview each one in person. Look for the agent that has the experience you need but also clicks with your personality.
2. Go shopping when you are ready to buy
Don’t waste your time or the agent’s time. Start your dealings with an agent when you think you are ready to buy. There is a lot of upfront work involved in starting a home search if you are not serious than don’t waste anybody’s time.
3. Its good to be on time for appointments
Respect your agent and be courteous. Never expect that an agent will drop what they are doing on short notice to show you a house. Many will try their best to be flexible but sometimes they simply can’t. Be understanding, put yourself in their shoes, how would you react to a similar circumstance at your job. Do not forget appointments, agents are busy they don’t have time to waste waiting around for you at a showing for you to not show up. And be on time, how would you feel if they were late. These are all very common courtesies that any business professional expects.
4. You need to sign an agreement with your buying agent
Sign the buyer representation agreement with your agent. This will create a legal relationship between you and your agent. This is the only insurance your agent will have that you will not abandon them mid search for another agent. Without this in place many Agents will not invest the necessary energy into the relationship because it could end at any moment. This is standard practice so just sign it.
5. Do not contact other agents while working with your buying agent
Once you start working with an agent do not contact other agents until your agreement has been terminated or run its course. This is not professional and can be quite insulting, not to mention unethical. There are very stringent ethical guidelines that Toronto real estate agents must adhere to. One of them is that they are not allowed to work with a client if that client is currently being represented by another agent. Even if you initiate the discussions, if you already have an agent the other is not to interact with you and if they do they are demonstrating that their ethics are questionable.
6. Never put a signature on forms you don’t understand
Don’t hesitate to ask questions about what you are signing. If you don’t understand something or a clause in the agreement ask about it. And keep pushing until you fully understand.
7. Adhere to Open House Protocol
Do not go to open houses alone. Any good agent will jump at the opportunity to visit properties with their clients. It gives them the chance to get a better sense of what you are looking for. They get to see firsthand how you react to different properties and the features of those homes.
If you do go to an open house alone be sure to go with your Toronto real estate agent’s business card and present it to the agent who is showing the house. Never ask the Agent who is hosting the open house any questions pertaining to the selling of the house. Tell your agent the questions you have and let them follow up. This is important to remember because certain questions could come back to haunt you if you decide to put an offer on the house. Your agent will recognize these questions and reposition them to get you the answer you want without compromising your potential negotiating position.
8. Tell your agents all about your expectation
Make sure to set expectations upfront. This gives you the chance to discuss potential areas of disagreement before they happen. If you expect your agent to pick you up from your house for showings then tell them upfront. This shouldn’t be an issue for your agent if they know that they have to build in that extra time to get you. It is also a good idea to tell your agent about how they can contact you and how frequently they should do it. Be open with them if they are not performing as you would like. Give them the chance to correct that which is bothering you.
9. Keep in mind that Agents are paid on Commission
The vast majority of Toronto real estate agents work on commission and only a few works on fixed salary. If any transaction is not closed then the agent does not get paid. These agents are professional, so they would not work without money. Never should you avail services from an agent if you want to keep him or her out of the deal.
10. Leave your kids at home
It is common courtesy to leave the kids at home during the initial search. This is for the sake of your own sanity, your agents sanity, your kids sanity, and the seller who is showing their home. It is completely understandable taking your kids through with you once you have short listed potential homes and plan to submit an offer. But try and avoid taking them on the initial walk throughs.
