Your City Has The Best Realtors And Everything Else In Between.
Lately, we’ve been talking about selling our home and wanted to know who the best realtors were in our area.
I’m not saying the best realtors are the only realtors to choose but you should do a bit of investigating.
Making sure your needs are met is critical to your partnership with the realtor you do choose.
Below there are lots of aspects to be said about hiring the wrong realtor and finding the best realtors.
Find Out What You Need To Know And What To Avoid
We still have a ways to go before finishing renovations in our house however if a good sale comes up there’s a possibility of bidding on it.
I know that sounds silly but living in a big city as we do in the Greater Toronto Area has come with both pros and cons.
Related: 5 Reasons Why Your Real Estate Goals Might Change
We’d like to move to the country or surrounding area where life is toned down about 10 notches.
That could mean taking on a mortgage at a new house while finishing this house which is paid already paid off.
Related: How We became Debt Free Before 40 including our home
Since I still have renovations to complete we’re motivated to continue looking.
Buying or selling a house can be stressful and finding the best realtors in your area may take some leg work.
Let me walk you through why it’s important to research before you hire a realtor in Canada.
Is Your Friend One Of The Best Realtors You Should Hire?
Many of you may hire one of the best realtors in town that have been successful in the business for years.
However, a friend of ours has a friend who works in real estate (who doesn’t?) and offered to look at their house.
He gave them a selling price based on what he thought would be good to sell the house at with comparables.
Another theory was he had an interest in the home with someone else and did not disclose that.
Did you know realtors in Canada must uphold a code of conduct? There’s more about CREA below.
Some of the key items of the Code include:
REALTORS® must disclose in writing whom they are representing as an agent in the transaction, and explain to parties in a transaction the details of the agency relationship; and
REALTORS® can’t acquire an interest in property (either directly or indirectly) without disclosing the fact that they’re real estate professionals.
Lowball Offers Come From Buyers Who Know Too Much Or Testing The Waters
The problem was the comparables were not even close to what this property was offering which included a massive lot.
But then again, another consideration to consider is whether it’s a buyers market or a seller’s market.
According to the Royal Bank Of Canada below is what they describe a buyers market and a seller’s market.
As you can see the seller’s market will come with higher price tags when buying a home during this period.
Our neighbours are listing their house soon so we are interested to see how much they end up selling it for.
They are moving out of Canada so anything they do make extra is a big deal for them.
Seller’s market at-a-glance
- More buyers than homes for sale
- Prices tend to be higher because of increased demand
- Homes sell quickly
- More likely to be multiple offers on a home, which gives sellers negotiating power (and conditional offers may be rejected)
Buyer’s market at-a-glance
- More homes on the market than buyers
- Prices tend to be lower because of increased supply
- Homes are more likely to sit unsold
- Housing surplus can slow rising prices and even lead to price reductions
- Buyers have more choices and more leverage to negotiate
Right now houses in our area are selling for $100,000 to $200,000 over the asking price.
People want out of the expensive Toronto district and move to surrounding areas in the GTA.
There is such a demand that people are paying big bucks for houses that need lots of work done to them.
We end up becoming the Toronto overspill cities where eventually housing will climb even higher.
Despite that, the friend realtor knew the seller’s motivation which can lower the leverage power of the seller.
For example, if that friend real estate agent makes any information that’s an invitation for lowballers.
The buyer’s agent knows juicy info and tells their client and again the tag of desperation is flying high.
As a buyer, this can backfire if you offer too low and insult the buyers and they will just walk away from you.
At Mike Stewart, Real Estate Corp in Vancouver defines a lowball offer as one that is significantly less than the asking price (but maybe not the market value) of a property.
Thankfully, they did not hire the so-called friend and went with another referral they were told about during a garage sale they hosted.
Related:
I Can’t Believe How Much The House Sold For With Realtor 2
He sold the house with-in a month for $250,000 more than what the friend realtor wanted to sell it for.
That’s insane and great for the sellers who wanted an honest realtor who had no idea they were moving away.
They say there is always a buyer for every home. Don’t ask me who “they” is but that’s just what I’ve heard.
It seems true because there are many times I’ve driven by houses and said, “Now who would buy that?” and I know you’ve done it too. haha!
Not All Realtor Friends Are The Best Realtors To Hire In Fact It Could Be A Nightmare
Some friend huh? More like a donkey, if you ask me.
You can interpret that any way you wish but you know what I mean.
In my opinion, he just wanted to sell it fast to get some money as he thought the couple was desperate to sell.
Unfortunately, that was not the case as they had somewhere to move and they both work from home.
This is why sometimes it’s best to stay away from hiring your friends who know you and your personal life.
It’s also smart to keep personal life off of social media because you can bet the realtor, buyer or sellers will look you up.
Knowledge is power, right? It’s amazing what you can find online with a name sometimes.
The sellers who were moving to Vancouver titled him one of the best realtors, they’ve ever had.
Real estate can be tricky but perhaps investigating who you plan to hire before signing with them is important.
1. Best Realtors Will Offer References
Realtors don’t need to read what I’m writing because they already know what they should be doing.
Whether they do it or not is another thing.
When a realtor meets a potential client they should always bring 2 0r 3 references that are willing to speak on his or her behalf.
2. Social media Mentions About The Best Realtors In Town
Any amazing realtor will have social media platforms on Facebook, Twitter, Instagram, and many others.
These are the hustlers who want to showcase their skills as a realtor, photographer, editor to gain followers.
Get the house listed fast and watch the shares fire away in the city the house is for sale.
I’m not sure if they still do newspaper real estate listings but it doesn’t hurt to take us back in time.
3. Ask your realtor why you should hire them
You know those fancy door hangers you get left at the house from realtors? This is a realtor selling themselves to you.
If the real estate agent doesn’t have any marketing tools to show or perhaps a slide show of his skills move on.
Technically you could conduct a mini-interview with your realtor to see if they fit your needs.
4. Willingness To Negotiate
The best realtors are negotiators because they won’t let a client go until they’ve given their all.
A buyer or seller may ask a realtor to negotiate their fees to help save money.
A good realtor is a fabulous negotiator depending on who they are working for, the buyer or seller.
After all, they want a sale too.
For example, when we bought our current home the lady who owned it smoked and it was gross.
The walls were all yellow, the carpets had burn marks and it lingered badly.
Our realtor negotiated a $5,000 reduction on the price of the house and that was accepted.
The roof needed to be done so again another $5000 reduction.
That was only the beginning of what I’ve found but I’ll save the juicy finds for another blog post.
5. Listens to Clients Needs and Wants
This is on the communication side again and any real estate agent will take notes and listen to their clients.
Offer the client suggestions based on what they want, the area, and their mortgage budget.
If you are working for a buyer again take detailed notes so you’re not wasting their time, sellers’ time, and your time.
6. Attention To Detail
Again the best realtors will be attentive to all of the detail from the inside and outside of the house.
They will also read documents before signing or having clients sign to make sure they are correct.
Any type of phone calls that need to be made on a house to verify something should be conducted as well.
This is where the buyer starts to really trust you because they see you look closely at their work.
Many buyers have fallen into lemon houses because the realtor they hired didn’t perform due diligence.
7. Honesty and Standard Of Conduct CREA (Canadian Real Estate Association)
All real estate agents in Ontario must follow a code of ethics as certified real estate agents.
When a buyer or sell it’s important to understand the basic code of ethics so you don’t get deceived in any way.
I’m in no way shaming the industry as every business has the bad guy or gal and the good guy or gal.
Buying a home is one of the biggest investments of your life so get it right by doing a bit of planning.
You might thank yourself down the road.
CREA’s REALTOR® Code has been the measure of professionalism in organized real estate for over 40 years.
The first code was approved in 1913; members approved the first code of ethics specific to CREA members in 1959.
This Code has since been amended many times to reflect changes in the real estate marketplace, the needs of property owners and the perceptions and values of society.
A REALTOR®’s ethical obligations are based on moral integrity, competent service to clients and customers, and dedication to the interest and welfare of the public.
The REALTOR® Code, by setting high standards of professional conduct for REALTORS®, helps to protect Canadians’ rights and interests. It also creates a level of trust between REALTORS® and their clients. Download the REALTOR® Code (PDF).
8. Best Realtors Are Motivated, Achievers
You want a realtor to get professional photos of your home inside and out, video, and sell your house fast for the best price.
A realtor should also get the listing on realtor.ca as soon as possible and re-reading it to make sure it is correct.
If the photos of your home are blurry or the advertisement is not correct you may upset your seller and scare off potential buyers.
As well use other online buying and selling websites to list the house if that’s part of the marketing plan.
Take all calls from other realtors to see the house and make it happen with an open house for realtors. (With Covid-19 right now there may be changes to how that works.)
I would expect that my realtor would also take a bit of time to look around the house first.
We watched on camera all of the realtors going in and out of my mother-in-law’s house and it was a minute.
They learned everything they needed to know that fast. – Super Powers.
The best realtors take their time so they know the answers before the questions are even asked.
9. Understands Current Trends
As a realtor, you should know the current trends in pricing, design, house sale comparables for your buyers and sellers.
If you want to impress a potential client when you meet them bring photos and current data for them.
Another thing buyers and sellers want is tips on selling the house fast.
I mean that’s what they are paying for so let them know how to make the home sellable.
10. Engaging Communication
Communication with a realtor is essential so if you are showing up late, not calling, sending back-up for open houses that is a big red flag.
When Mrs. CBB sold her house, I don’t think the realtor she hired completed any open houses and she was pissed.
No other words to describe it. A lady was sitting at the kitchen table letting people roam around her house.
There was no enthusiasm or anything to motivate the buyers who came through the door.
The first offer that came in was so low it was teetering on less than what she paid for the house $265,000.
As you can see the offer of $270,000 just wasn’t going to cut it. Now the house is worth 1 million dollars.
In the end, she fired that realtor and the new realtor sold the house in a week for much higher.
11. Hustles To Buy or Sell
Realtors need sleep too, to perform the best work for clients.
Many of the best realtors in our city have taken on other realtors to join a team to broaden the selling market.
To be good you need to be accurate, honest, fast, and hustle the houses you sell without covering up blind spots.
12. Best Realtors Have A Network
Having a good network of service providers that can assist your buyer or seller is important.
Keep on hand a list of phone numbers you can pass along such as house cleaners, house stagers, trades, flooring companies, roofers, painters, etc.
These types of things take a bit of stress off the shoulders of both the buyer and seller.
13. Knows The Real Estate Market For Your Area
I briefly spoke about how the best realtors must know the real estate market for your area above.
This is true but the best realtors study the entire city because clients could move just about anywhere.
Again, knowledge is power and clients can see when a realtor looks like they half-a$$ed something.
When buyers and sellers know more than the real estate agent you know it’s time to look for a new one.
14. Always On Time
Realtors need to be on time or calling well in advance that they will be late or not showing.
Both buyers and sellers have kids and work hours that they may be taking off to look at or sell a home.
Be respectful of their time. If you suck at getting somewhere on time then give yourself extra time.
Once ok, after that it doesn’t look good professionally if you don’t schedule and plan properly.
Admittedly, it does happen that realtors are late, and to be honest it happened to us once and just waited.
This is an exciting time and buyers want to get in and look around. Now’s the time to use patience.
However, if you have a limited time to look at the house a late realtor takes that time away from the buyer or seller.
Final Thoughts On The Best Realtors In Town
Not all realtors that buy or sell for their friends are sketchy but there are plenty that are.
Actually, we hired a friend to buy the home we are in now and she has kept in touch with us since 2009 yearly.
She sends us a Christmas card, calendar, and referral cards at the start of the New Year.
There’s nothing bad to say about her and we can call her one of the best realtors around.
She was fairly new to the real estate business when we hired her and she broke down walls for us as buyers.\
What will she be like as a seller? Hopefully as amazing and honest as she was as the buying agent.
Unfortunately, if we sell we don’t know if we will sell the house privately or hire her.
I need more feedback from people who have been through the process.
If you have sold your house without a realtor and want to share your journey please contact me.
You can stay anonymous.
As I dig deeper to make sure homeowners in Canada don’t get hosed my upcoming posts are spilling with info.
Make sure you subscribe to the blog so you get email notices (3 each week).
Discussion: Have you any realtors in your area that you consider the best realtors? If yes comment their name below and tell everyone why. This is like networking for your agent as he gets free advertising from you on my platform.
Also, if you’ve had any nightmare realtor stories I’d love to hear about them. You can message me at canadianbudgetbinder@yahoo.ca or use my contact form on the home page.
Mr.CBB
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