Buying a home is the single largest investment you can make. Choosing a reliable, knowledgeable Realtor is very important. This helps for making the best economical and smooth transaction when purchasing a home. It is always a good idea to interview several realtors before choosing the one you would like to hire. Asking friends and family for referrals is also a good idea. Knowing someone that has dealt with an agent previously is a good indication of their ability and skills. They may have the ones that you are looking for. It is very difficult to pick an agent as there are close to 66,000 realtors in Ontario alone.
What Is The Realtor’s Education And Experience?
Asking a Realtor about their experience and education is important.
- You want to make sure they have full knowledge of the areas you are interested.
- It is also important to know what type of properties they deal with regularly.
- You should ask a realtor about how many homes they have helped to buy and sell in the last year. Also, how many years they have been in the business.
- All Realtors must take courses and meet certain educational criteria to gain their realtor licence. You should find out if they have any additional skills and experience.
- Realtors also must take additional mandatory courses throughout their career to keep them up to date within the business.
- Ask the realtor how many different brokerages they have worked for as this can be an indication of their stability.
- A realtor who works for a well-known brokerage is more likely to keep up with the expectations of that brokerage. Some brokerages are very strict with the way their agents conduct business negotiations.
What Services Are Included?
It is important to understand what services the realtor can provide you with.
- For example, does the realtor research all the open houses in the areas you are interested in buying in?
- Does the realtor regularly check for new listings of homes that meet your expectations.?
- Can the realtor assist you with finding mortgage brokers and other financial representatives that you may need with the purchase of your home?
Does The Realtor Work Independently Or Are They Part Of a Team?
When realtors work in a team setting, the realtor you have interviewed and first met with may not be the realtor you will always be dealing with.
- It is important to establish contact and communication with the representative of your choice before signing a contract.
- Hiring a realtor who works independently allows you to have consistency and regular contact with the same realtor.
- It is important to establish a good working relationship with your realtor so they clearly understand what exactly it is you are looking for and what you are willing to pay.
How Many Clients Is The Realtor Working With Presently?
It is important to find out what the realtor’s workload is to ensure they have the time to work with you and meet your needs.
- Looking for a new home to purchase can be a very time-consuming task.
- You should ensure the realtor has lots of time to dedicate to researching and showing you properties and homes as soon as they come out on the market.
What Are The Realtors Negotiating Skills Like?
Finding out what the Realtors negotiating skills are like is very important when putting in an offer to purchase a home.
- You want to ensure they keep your budget in mind and can get the best possible price on the home.
- Sometimes the realtor knows the realtor that is selling the home and may have a good working relationship with them. This can really be an asset as the realtors can discuss information that could benefit the buyer as well as the seller, which can save a lot of time at the bargaining table.
What Type Of Communication Will Do Do They use To Keep You Informed?
Communication is essential in all relationships. Having your realtor keep you regularly informed about new listings, price reductions, power of sales, and negotiating transactions is of the utmost importance.
- There are many forms of communication nowadays, with the inception of email, events, cell phones, messenger, text messaging, scanning documents, fax, etc., it is virtually impossible not to be able to communicate with someone.
- Establishing the best form of communication at the beginning of the meeting with the realtor is the best way to set your expectations for communication.
Does The Realtor Have References They Can Provide You With?
Remember you are hiring the realtor to work for you. You are basically interviewing them for a job, so it is important that you are choosing the best possible candidate for the position.
- Asking for references and having the ability to check the references is very important.
- Speaking with someone that has dealt with the realtor previously can give you much insight into the skills they may possess or lack in.
What Is The Realtors Approach To Finding A Home That Meets Your Needs?
Always ask how the realtor what their approach is when working with a client to buy a home and what techniques they use when negotiating the purchase.
- It is important to ensure the realtor dedicates as much time as possible to stay on top of the market, so they can show the purchaser as many homes as possible that meet their criteria.
Is The Realtor Registered With RECO?
Always ask the realtor if they are registered with the Real Estate Council of Ontario.
- The RECO protects the public by ensuring realtors follow the rules and guidelines.
- You can check the RECO website to ensure the Realtor is indeed registered. Also on this website, you can find public advisories, recent enforcement decisions, and even file a complaint.
It is always good to select a realtor that you can feel you trust. Having a good working relationship with your realtor can make this adventure a very fun and exciting one.