When selling your home in Toronto or the Greater Toronto Area, hiring a Realtor is not enough - you need to hire the right Realtor to represent you and the sale of your home.
Deciding which Realtor is right for you can be accomplished by asking key questions to determine experience in selling with in Toronto and the GTA, best practices, specific skills including marketing, negotiating and knowledge of construction.
Below are 10 questions to ask Realtors when listing with in Toronto and the GTA:
1. How long have you been selling real estate? Is it your full-time job? Part time agents may not have the time to dedicate to effectively list your home. Like most professions, experience in selling real estate is earned through every successful transaction.
2. How many days did it take you on average to sell homes? How does this compare to others in the Toronto and GTA market?
The real estate agent has these facts on hand, and should be able to present market statistics to provide a comparison. Days on the market and the list-to-sell ratio oftentimes are directly related.
3. How close to the initial asking prices of the homes you sold were the final sale prices (list-to-sell ratio)? This is one indication of how skilled the agent is at pricing and marketing homes. Naturally, other factors also may be at play, including an exceptionally hot or cold market and the considerations of your priorities of time and price. (See Factors in Selling). LINK
4. What will you do to help prepare my home to sell quickly? In this market, your home has to be dressed to sell. Home staging is an important step to differentiate your home from other listings. Home staging is much more than making the home look appealing, it involves adhering to budgets as well as defining the target market.
If time, budget, and necessity allow, minor renovations may be needed to sell quickly and for the highest possible price. This is not only common in flipping homes, but a requirement for homes that have not been updated to keep pace with local markets and trends.
Staging and renovations are two of the many services Grange Real Estate offer as ancillary services to our clients. Short term financing is also available to qualified sellers.
5. What types of specific marketing systems and approaches will you use to sell my home? You don’t want someone who’s going to put a For Sale sign in the yard and hope for the best. Look for someone who has aggressive, relentless and innovative approaches to market your property competitively. Buyers today want information fast, so it’s important that your REALTOR® is responsive.
6. Will you represent me exclusively, or will you represent both the buyer and the seller in the transaction? While it’s usually legal to represent both parties in a transaction, it’s important to understand where the practitioner’s obligations lie. Your REALTOR® should explain his or her agency relationship to you and describe the rights of each party.
7. Can you recommend service providers who can help me obtain a mortgage, make home repairs, and help with other things I need done? In addition to the services offered by traditional real estate agencies, Grange Real Estate offers its clients distinct benefits that comprise interior design, renovation, enhancement consultations, market development via strategic communication and concierge services. With an established network of contacts, trusted associates and brands, we can provide clients with a service portfolio that is tailored specifically to their individual needs.
8. What’s your business philosophy? Do you have testimonials that show you adhere to your Values? There may be no right answer to this question for all homeowners, responses will help you assess what’s important and show how well the values match with yours. To learn more about Grange real Estate Mission and Values, Click here! http://grangerealestate.ca/Profile/CompanyProfile
9. How will you keep me informed about the progress of my transaction? How frequently? Again, this is not a question with a perfect answer for everyone. Perhaps a good response would be, "How often and by what method would you like to receive communications"? It is your home, so you should dictate the frequency and method to meet your preferences. Do not hesitate to request more or less frequent communications as the home is listed and time has elapsed.
10. Could you provide the names and contact information of your most recent clients? Ask recent clients if they would work with this agent again? Were they pleased with the accuracy and frequency of communications? Did the agent manage the sale ethically and professionally? Have the agent provide proof via MLS listings (Multiple Listing Service).
In addition to the above questions, you and the Realtors you interview should discuss the fees to list your home. However, it is recommended you consider the entire net proceeds in regards to time on the market and the final sale price. Oftentimes home sellers look to save on fees only to lose considerably more in the final sale. If an agent cannot negotiate their own worth how can they defend the value set for your home.