What if we get the wrong one? Can we trust him? Does she know what she's doing? Can we trust our
friend's recommendation? One of the biggest fear buyers or sellers have is getting
connected to the wrong Realtor. This fear, plus the enormity of the whole process, means
most people find selling or buying a difficult and stressful experience.
It does not have to be this way. Having a good Realtor and being satisfied with the work begins
doing some homework (pun intended).
Here are some ideas for making the selection:
You should interview two or three different salespersons from different companies. Each one should
have the opportunity to convince you of their merits. Take charge of the relationship from
the beginning. You are the employer. Ask for references.
Remember that Realtors often specialize. For example, JustShelter
would not be a good choice for industrial properties or properties that
are outside of our normal area of operation.
For Sellers:
Ask each about their experience. If selling, is there evidence of
familiarity with your neighbourhood and your type of property?
Ask for a written
marketing plan showing how your home will be advertised, what
open houses there may be, and how prospective buyers will be informed of the qualities of
your property.
Determine if the agent will have time for your home or will it be one
of many serviced only by a sign.
Ask for a written
opinion of value for your home that includes a likely selling
price as well as a suggested list price. Ask for a copy of the supporting material
gathered to determine the value.
A word about fees: You can negotiate the fee. However,
the normal practice is to charge 6% of the selling price for selling a home on the MLS
market. That fee is usually divided between the selling and purchasing agent. Be wary of
bargain basement fees. You get what you pay for.
For Buyers:
Does the Realtor have a good sense of what is on the market and
what is happening to the market?
Is their evidence of knowledge of how to make
meaningful use of the MLS computer system. Are you promised daily updates of new properties that match your requirements?
Determine if the Realtor will have time for you when you wish to see
properties.
Remember that if you want the Realtor to represent your interests in
the negotiations you must enter into a contract just like a listing
agreement that sellers must sign. A "" clarifies your Realtor's
responsibility to you as well as your agreement to work with this realtor. Purchasers normally do not pay a fee for services, even if the Realtor
agrees to be a buyer's agent. Make sure this is understood.
For Both:
Finally and maybe most importantly, does the
Realtor really listen to you. Is there more listening or more talking? You will know whose agenda is
more important by that answer. Is there an attempt to really understand before offering
suggestions? This will show you how prospective buyers will be treated. All the skills and
knowledge in the world are useless if sincere listening is absent.
Taking time to find the right agent will give you the confidence
of being in control. You will be taking the right steps toward a successful sale or
purchase of your home and a smoother transition to the future. See
the "Code of Ethics"
which was created by the Real Estate Council of Ontario. This body
regulates the real estate industry in Ontario. |
