Having made the decision to write this piece on how to choose the best real estate agent, It would have saved a lot of time, headaches, and aggravation if you had read something similar when you first started out in real estate. Penrose Real Estate Experts suggests choosing the ideal real estate agent, without going into your own personal real estate agent stories:
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Be certain that they are full-time agents.
Without a doubt, this is a key consideration when choosing a top realtor. Experts have seen that many individuals believe real estate brokers make a lot of money and that it is an easy way to get rich. As a result, many people obtain their real estate licenses for incorrect reasons. On a $1,000,000 residence, they “hope” to receive a 5% commission ($50,000). The fact is, no matter what line of employment you are in, success in everything needs a lot of hard work and devotion. Real estate is no different; in fact, 80% of all real estate transactions are carried out by about 20% of realtors (within a particular geographical area).
Help Without Initiative
A realtor must have your best interests in mind, just like a lawyer or doctor must. Sadly, as they already stated, not everyone obtains a license for the proper reasons. Even if the realtor you are speaking with claims that their broker requires them, they would be quite concerned if they asked you to sign a commitment agreement right away. Like in every happy and successful relationship, finding the correct match comes first.
Your potential realtor should be open to assisting you in a limited capacity (learning the market, viewing some comparable properties, etc.) without any commitment on your part or any expectation that you will ever act; this is known as a no-pressure sort of connection. The greatest full-time realtors are aware that this is the surest strategy to draw clients and achieve long-term success. Meanwhile, if they “locked” you up legally, amateur and probably not very serious agents would feel more self-assured. Unfortunately, a lot of customers will feel obligated to the realtor as per the terms of the contract.
Any clever, seasoned, and knowledgeable real estate agent will know to reject the assertions you could see on the front page of newspapers that might be anything along the lines of “Canadian Real Estate Market is Down.” Every market (such as Toronto) has a number of sub-markets (ex. Down Town Core, Harbor Front, The Annex, etc). Different trends and underlying principles govern each of these sub-markets price changes, supply and demand fluctuations, and the properties that are available at any particular time. There are several different submarkets all around GTA.
Great real estate agents are aware that specializing in just a few nearby sub-markets will result in higher-quality clients and a more prosperous firm. Because their agents will be able to provide them with knowledgeable guidance, their clients will also be much pleased. Meanwhile, inexperienced agents will go practically anywhere to assist clients in order to close a deal. It may seem foolish to many people, but they prefer to contrast realtors with medical professionals. Without meaning any offense, a realtor without a specialty is similar to a general practitioner at a walk-in clinic.