Whether you’re buying or selling a home, the real estate market can be daunting. As a buyer, you might think searching for homes online is straightforward, but an experienced real estate agent can simplify this by tracking new listings, coordinating viewings, and handling communications with the seller’s agent. They also have access to exclusive listings that aren’t publicly available. When you’re ready to make an offer, an agent can help you understand the purchase contract, ensuring you know how it affects your mortgage costs over time.
For sellers, although it may seem appealing to list your home independently in a strong market, an adept agent can manage the extensive and often costly tasks involved in selling, from staging and marketing to advising on necessary repairs. Plus, sellers usually pay the buyer’s agent’s commission, meaning you’ll incur this cost even if you choose not to have your own agent. Here are a few tips when selecting a real estate agent.
How to Choose a Real Estate Agent When Buying
Experience in Your Desired Property Type
When buying a property, it’s essential to find an agent with substantial experience in the type of home you are interested in. If you’re looking for a family home, an agent specializing in residential properties would be ideal. Experience in the local market is crucial, as they will have better insights into neighbourhood trends, pricing, and amenities. They should be able to provide you with information on recent sales and upcoming developments in the area. Their knowledge can help you make informed decisions and avoid overpaying for a property.
Online Reviews and Testimonials
Research online reviews and ask for testimonials from past clients. An agent with a strong track record of satisfied customers is likely to provide a similar level of service. Look for feedback on their communication skills, responsiveness, and professionalism. Many local real estate boards, such as the Toronto Regional Real Estate Board (TRREB) or the Real Estate Board of Greater Vancouver (REBGV), offer resources and reviews of member agents. Platforms like Facebook and LinkedIn can provide insights through reviews and recommendations posted by clients.
Effective Communication
Effective communication is key in any real estate transaction. Your agent should be able to explain the process clearly, keep you updated regularly, and be responsive to your questions and concerns. During initial meetings, assess their communication style to ensure it aligns with your preferences.
Professional Network
An agent with a robust professional network can be invaluable. They can recommend reliable mortgage brokers, inspectors, and contractors, which can streamline the buying process. A well-connected agent might also have access to listings before they hit the market. RE/MAX agents are part of a vast network of professionals, including other real estate agents, mortgage brokers, inspectors, and contractors. Their connectivity can facilitate a smoother and more efficient buying process, as they can easily recommend reliable professionals.
Personal Comfort and Trust
You’ll be spending a lot of time with your agent, so it’s important to choose someone you feel comfortable with. Trust your instincts during the initial meetings and select someone who listens to your needs and understands your preferences.
How to Choose a Real Estate Agent When Selling
Track Record of Sales
When selling a property, you should look at the agent’s history of sales. How many homes have they sold in the past year? What’s their average time on the market? An agent with a proven track record of quick and successful sales can be a significant asset. They likely have a good marketing strategy and a list of potential buyers.
Comparative Market Analysis (CMA)
An experienced agent should be able to provide a comparative market analysis (CMA) to determine the best price for your property. They should have a strategic approach to pricing that considers market conditions, recent sales, and the unique features of your home.
Marketing Plan
Ask about their marketing plan. A good agent should use a mix of online and offline marketing strategies, including professional photos, virtual tours, social media, and open houses. Effective marketing is crucial to attract potential buyers and sell your home quickly.
Negotiation Skills
Selling a home involves negotiation. Your agent should have strong negotiation skills to help you get the best possible price for your property. During your initial meetings, ask about their approach to negotiating offers and how they handle counteroffers.
Availability and Resources
Ensure your agent has the time and resources to focus on selling your home. They should be able to dedicate enough time to marketing, showing your property, and communicating with potential buyers. A dedicated agent can make a significant difference in the selling process.
Reputation and References
Reputation matters in real estate. Research potential agents online, check their ratings with local real estate boards, and ask for references. A reputable agent with a professional demeanour is more likely to manage the sale effectively and ethically.
