Having a real estate professional working with you on the sale makes the process of selling your home a much easier one. The real estate agent will take over the marketing part of the process, taking out ads, setting up the signage and bringing potential buyers to view your home. This legwork will save you time and help the sale proceed much faster. All you have to worry about is making sure that your home is in the best possible condition for potential buyers who want to see more than the outside.

A realtor has knowledge of the current market trends and a wealth of experience with the process of selling homes. He has access to information that the general population does not have about this industry and will assist you in determining the best asking price for your home. This professional is also experienced in negotiating with buyers, handling the paperwork and other aspects of selling that will bring you a higher price for your home.

When you sell your home on your own without the assistance of a realtor, you have a lot more work to do. You have the task of marketing the home by taking out ads and putting up signs to let potential buyers know it is on the market. When you cut out the middleman you have more flexibility in determining how much you want to set as the asking price and you can lower the price to make a quick sale.

The traditional method of advertising a home for sale is through classified ads in the newspaper. However, you can place flyers advertising the sale in areas that receive a lot of traffic and there are numerous websites where you can list your home for free or for a very low cost. By using a combination of these methods, you will give your home exposure in the market and attract interested buyers. When advertising, you should have an accompanying photo to make the ad more enticing for buyers.

One of the main advantages in choosing not to use an agent for the sale is that you save the money you would pay as a commission. You own all the purchase price. This can work to your advantage because you can sell your home for a lower price than a comparable property selling through an agent. You may choose to stick to a higher price and realize more profit for yourself from the sale.

Even though you could make more money selling your home on your own, using a realtor for the process makes it much easier and gives you more time for yourself. The choice you make depends on how much time and patience you have for the selling process.

The correct listing price of your home will help you make a quick sale. This will also attract more potential buyers to view the home and more realtors will be interested in bringing in their clients to have a look at it as well. It will make the difference between selling your home very soon after you list it with a realtor or having to make reductions in the price at a later date.

There are various reasons why some sellers overprice their homes. They may want to realize a larger profit from the sale due to the lack of homes on the market in the area or in the design of the home. While location and the size and style of the home are factors that buyers do take into consideration when shopping, the listing price is the most important one for them. Potential buyers may like your home and its location, but if the price is too high they will not even give it more than a cursory glance.

As soon as you list your home on the real estate market and the price is right, there will be a flurry of activity within the first few weeks. If the price is right, you may have immediate interest and realize a sale right away. If there are several interested buyers, there may be a bidding war between them, in which case you may even get more than the asking price rather than have to negotiate for a lower price.

With the low interest rates, there are many potential buyers looking for homes but the price has to be right for them. Pricing your home too high above its market value could mean that buyers ready to make a sale will not even come to see what you have to offer or even make a lower offer on your property.

In order to have a more realistic listing price for your home, the best advice is to have it appraised before you put it for sale. This will give you a value to work with because lenders will not approve a mortgage for a home with a listing price above the appraised value. Once you do have a price to work with, your listing price could equal the appraisal price or you can go a little under this to make the property more enticing to potential buyers. With the competition that exists in the real estate market, you do need to do what you can to draw interest from buyers.

Your realtor may also give you information about what homes are selling for in your area, but these people have little control over the selling process. They can give you advice about the listing price, but the final decision about the price is yours and yours alone. The important thing is that you choose a listing price that is right and you will not have any problems with the sale of your home.

After a few weeks (or even months!) of frustration, it shouldn’t come as a surprise that home buyers find themselves back at square one and wondering this exact question: “Can a Realtor REALLY Help me to buy a home or condo?”

The answer is “Yes, a Toronto Realtor CAN help you buy your next home.”

Reason #1: They have experience. A real estate professional has the experience to quickly and effectively understand the home you are looking for. They know from many other successful home sales exactly what you need and they can show you homes that you didn’t even know where for sale!

Reason #2: They know the housing market. A professional knows the market and they know where sellers are selling. They know the important neighbourhoods and they know the hidden markets and out-of-the-way gems that homeowners look back on years later when friends say “how did you EVER find this great place to live?”

Reason #3: They are experts, and will spot things that you won’t spot. Sure you know that you (for example) want 3 bedrooms and 2 bathrooms but they might point out that your situation and budget is better suited to have 2 bedrooms upstairs and 1 bedroom in the basement. They know the price difference and the negotiation tactics necessary to act on your behalf.

Reason #4: They cost nothing. A buyers agent is essentially an experienced consultant to help buyers find the perfect home, and they do this consulting work absolutely free to the home buyer (because they are paid by the agent representing the seller).

Reason #5: They can guide you. Most people don’t buy homes every day. So when they do, they can be overwhelmed by the paperwork and red tape necessary to make the purchase happen. A Realtor does help to buy and sell homes every day so he or she can help the buyer with the paperwork so that there are no mistakes.

Eager to buy a home? It doesn’t matter if you’re a first time home buyer or a seasoned home buying veteran who is ready for a change, a buyer’s agent costs nothing but helps to make the purchase a quick and successful transaction.

Tip #1: Figure out what your home is worth: Determining how much you can get for your home is an early step you’ll want to take. This can give you a baseline to determine your asking price and what you can realistically expect to get. A real estate professional can help you get that price by tapping their network of estimators and market studies, and by bringing their own insight to bear on your situation.

Tip #2: Decide if you want to make changes: Should you replace the hot water heater? Should you paint the living room? Should you re-pave the driveway? These and many other similar questions plague the home seller. They don’t do this everyday so they don’t know what might be a good investment and what might not give a good return when the home is sold. An agent can help here, too, by drawing on their years of experience to recommend what actions to take and what isn’t worth your time or effort. You might be surprised just how much more you can ask based solely on the advice that they give.

Tip #3: Market your home aggressively, and list with the Toronto Real Estate Board. Selling a home used to be about putting a sign on the lawn and waiting for buyers to come knocking. But not any more. Your home needs to be marketed aggressively across numerous outlets – both web-based and face-to-face and print – to help it sell quickly. Once again, an agent is a trusted source here. They will have cultivated a large network of buyers and they have access to many marketing opportunities that you might not have thought of! Rely on them to get the word out about your home.

Tip #4: Navigate the paperwork. For most people, a home is the largest and most significant investment they are likely to make in their lifetime. As you can imagine, there is a lot of paperwork that goes along with handing over an asset of that size and value. A real estate professional can help to navigate the complicated paperwork of home ownership.

In short, a Realtor can make the home seller’s life a lot easier by giving them a fast, efficient way to sell their house at the best price and without a lot of stress.

If you are thinking about selling your house, a good real estate agent can make a world of difference. There are some who resist the slight cost of an experienced professional, but most people agree that it’s actually an investment into a higher selling price and an easier sale.

So here are a series of questions you’ll want to ask a prospective agent to find out if they are the right one for you.

Question #1: How long have you been in business? This is a good question to ask because it helps you know their level of experience. That doesn’t mean you shouldn’t hire someone with less experience because they are likely to work even harder for you. But it’s nice to know.

Question #2a: In your experience, what kind of house do people like me enjoy the most? This question – for buyers – might surprise you and most people forget to ask it, but it’s a great question. After all, you might have an idea of what you want in a house but you may not even realize the potential that you could have if only your mind were opened up to new possibilities! That’s what this question seeks to accomplish.

Question #3a: What should I be watching for in the homes we’re looking at? This question – for buyers – is a follow-up question to question 2a. It prompts the Realtor to tell you about opportunities and challenges you might face while you’re looking for the specific houses in your price and preference range.

Question #2b: In your experience, what kind of buyers typically want a house like this one? This question – for sellers – tells you how your agent will be marketing your home. First time homebuyers? Retired couple? Empty-nesters? Each demographic has their own needs and this question will tell you what those needs are.

Question #3b: In your experience, what challenges and opportunities are we facing? This question – also for sellers – is a follow-up to question 2b. It helps you to know what you can do around your house to fix up your house to appeal most to the demographic who is most likely to buy from you. It also alerts you to challenges that you might face. For example, your house might be attractive to a demographic whose deposit check might not clear. A Toronto Realtor can tell you about the opportunities you can take for a faster and more profitable sale and they can alert you to the pitfalls you might face in the process.

Question #4: When can we start? Once you’ve found a real estate professional who can answer your questions to your satisfaction, it’s time to get started!

Good luck! And happy house buying or selling!

Price is the first thing that most think of when they think of what their realtor will be negotiating for them.  And it is true that this is one of the biggest things that will need to be ironed out.  Of course, the sellers will always want to sell at the highest price while buyers will want the lowest.  A quality real estate agent will have done their homework in studying the market comparables to assess the fair market value of a property.  Once this has been completed, it becomes the foundation by which an acceptable price can be agreed upon by both parties (seller and buyer).

But price isn’t the only thing that a realtor may have to negotiate.  Below are some things a buyer vs. a seller may want negotiated by their realtor.

Typical Items a Toronto realtor may need to negotiate on your behalf:

-Closing Costs – many buyers (especially first time homebuyers) will ask that the seller pay all or at least part of closing costs.  In a very competitive market, such as we have now, this becomes an even more standard request.

-Furniture – things like washers, dryers, refrigerators, stoves, and chandeliers are all standard things that a buyer will want to be negotiated into purchase price of a home.

-Move Out Day – often times a realtor will negotiate a move out date that is actually beyond the actual closing day.  Many times a seller will not be able to move into their new home and need the extra time which is something that can be worked out during negotiations.

-Repairs – If there are certain repairs that need to be made, they can either be completed by the buyer or by the seller.  A realtor could potentially negotiate a credit to allow buyers to complete repairs once they have taken ownership of the property.

The truth is that having a good realtor on your side that’s highly adept in the art of negotiation can be invaluable to you as you go through the process of either buying or selling a home in Toronto.

Question #1:  How long have you been in real estate?
While it is nice to help someone out who is just getting started in the business, this may not be the real estate agent you want helping you sell your half a million dollar home.  The goal here is to know what level of expertise you will be getting when you sign up with a particular agent to represent you in the sale of your home.

Question #2:  Do you have any references?
If you are working with someone who is a referral this step may not be necessary; but when you are deciding on a real estate agent who you know nothing about, speaking to past clients can help give you valuable insight on the level of client service you can expect to receive.  Also, if the agent doesn’t want to provide references it may be a red flag that you should continue searching.

Question # 3:  What are your marketing plans?
Knowing if your real estate agent plans on advertising in the newspaper is something you’ll want to know upfront; also, when and how often will an ‘Open House’ be scheduled.  The aggressiveness of the marketing plan has a direct correlation to how fast you will be able to sell your home.  If there are discrepancies in what you expect and what the real estate agent plans on doing, you have the opportunity to work that out up front by asking the question.

Question #4:  Is the home ready to go on the market?
Any Toronto real estate agent worth their weight in gold should be able to walk through your home and give you an idea of any small changes you can make to help increase the likelihood that your home will be sold as quickly as possible.   Be prepared to hear suggestions to de-clutter or even painting walls a more neutral color.  Your real estate agent should be able to give you tips on making your home appeal to a wide range of buyers.

Question #5:  How accessible are you?
This is one of those questions that it is good to ask in the beginning.  The reason is because you don’t just want a real estate agent who is going to disappear once they have a signed contract.  You want to be certain that this person will respond with a sense of urgency to any phone calls or e-mails.  When you make your expectations clear up front things have a tendency to go smoother.

Asking all or some of these questions can help you find the real estate agent that’s right for you.

If you are in the market for a good realtor, there are a few ways to go about making sure you select the best person to fit your personality and needs.  While every person is different, you can use the following list as a guide to help you ensure you’ll find a real estate professional you feel comfortable working with.

Tips on Selecting the Best Realtor

Tip #1 – Referral
You’ve heard it before that “word of mouth is the best advertisement”; well this is never truer than when it comes to picking a real estate agent.  Poll your friends and family and see if you can get a recommendation.  Since you’ll be asking people that you know, and hopefully trust, it should be easier to find someone that will be reliable and easy to work with who can help you get results.

Tip #2 – Check the Signs
Odds are when looking to buy or sell, you begin noticing all the real estate For Sale signs in the area.  By checking to see if there is one name that appears to be showing up on a lot of signs you may be able to get a heads up on a quality realtor in the area; remember that if they do a lot of business, chances are they are top notch and okay to work with.

Tip #3 – Set up Interviews
If you can’t get a referral and there is no one name that stands out as someone you should give a try, why not set up a time where you can screen a few candidates to see who you like best.  Get together a few questions and either set up a meeting in person or on the phone to see who you like best.

While these suggestions can be used as tools in helping you locate a realtor, there are never guarantees.  At the end of the day, no matter which realtor you choose, you must remember to stay involved in the process and make sure your needs are met when it comes to buying or selling a home.