How to Choose a Realtor
Thursday Aug 31st, 2023
The decision to sell your home is an important one. Equally important is the person you choose to represent you in the sale. With 73,000+ realtors in the GTA to choose from, it may seem daunting to select one to work with in purchasing or selling one of the largest assets of your life. While many will reach out to someone they have worked with successfully in the past, many will also seek the assistance of someone who has been recommended by their friends and family. However, even if someone you know has had a great experience with their own real estate sale, it is important to determine whether this referral is the best fit for you in your real estate goals. The real estate professionals you are interviewing should be ready to professionally answer your questions, provide you with SAMPLES of their marketing materials, and prove their claims and statements with FACTS.
The following are some questions designed for you to use during your Agent interviews to assist you in choosing a Realtor to work on your behalf:
- How many transactions do you do on average per year (how often do you sell a home)?
- Have you won any awards or obtained any special designations to show your expertise as a Realtor?
- Do you have a Marketing Plan for my property? (ask for samples of different types of targeted print advertising, flyers / just listed cards, social media campaigns, virtual tours, property feature sheets, client newsletters, etc. if they can’t show you proof, they most likely don’t do it)
- What is your average sale-to-list price ratio?
- What is the average number of days on market (DOM) for properties similar to mine? What is your average DOM for properties you have listed? (ask to see MLS stats as proof)
- How many properties have you listed and sold in my building/area?
- Can you demonstrate your proven sales track record in this building/area?
- What do you feel my property is worth and what do you base it on?
- What suggestions do you have to increase the marketability of my property?
- What written guarantees do you offer if I decide to sell with you?
- Do you have any testimonials/reviews from past clients?
- What is your commission and what do I get for that rate?
- Can you recommend service providers who can help me obtain a mortgage, perform a home inspection, make repairs, etc.?
- How will you keep me informed about the progress of my purchase or sale?
- Will you represent me exclusively, or will you be representing the buyer/seller in my sale as well?
These are just a few of the important questions you can ask potential Realtors so you can make the best, informed decision when selecting your partner to help you with a successful purchase/sale.
While the above questions will assist in determining competency, the ultimate deciding factor should be trust. We’ve heard many unfortunate stories of how once someone has made the decision to work with a realtor, they’ve never heard from them again, and the agent never made good on any of their promises. It may be challenging to filter out the “sales tactics” being used on you by certain realtors, but the list of questions above should make it easier to figure out who rises above the competition. Moving, investing or handling family matters can all be stressful endeavours, so having the right partner to guide you through the real estate process is so crucial to your overall experience, so take the time to meet with a few realtors and choose one that you are comfortable will have your best interest at heart.