Buying or selling Toronto real estate gets more challenging as time goes by. While the overall pricing trend is up, values can fluctuate and demand comes and goes. These subtle nuances mean the expert advice and guidance of a real estate agent is more important than ever.
We could talk all day about what to look for in the right real estate agent. That said, it can be just as critical to spot the warning signs of the wrong agent. In this post, we’ll outline some of the red flags that you want to avoid.
Staging is a proven technique that can result in a faster sale. Learn more about our process right here.
Their Advice Doesn’t Match the Current Market
Here’s a scenario we have seen play out many times over the last few years. Imagine you want to sell your home, and book a home evaluation to get an idea of how much it is worth. Then, something happens, life gets in the way, and your plans get pushed to the back burner.
The problem with re-entering the market six months or even a month later is that real estate can fluctuate so quickly. If you align yourself with an agent who isn’t keeping up to date, a once-effective strategy could backfire.
Your price point could be off, and design trends can also change. The results from your sale could vary in disappointing ways. You might sell but not earn as much as you should. In the worst-case scenario, your house could sit on the market as potential buyers pass you by.
Current information can be even more critical when buying Toronto real estate. Imagine what would happen if you were searching when prices were at an all-time high, but your plans got put on hold. If you re-enter the market months later with an agent with outdated statistics, you might end up paying more than you need to or can comfortably afford for your new home.
Buying or selling a home in Toronto? The posts below will give you a quick refresher of what to expect:
- Luxury Lingo: Elevated Real Estate Terms And What They Mean
- What Is the Property Ladder?
- What Is the Real Estate Closing Process in Canada?
The Proposed Timeline Is Off
In a perfect world, you could sell your house and then buy a new one when you’re ready. In reality, the timelines are often much shorter than you realize. A real estate agent who underestimates how long your transaction will take can be the source of a lot of stress and anxiety.
Here’s one true story. A homeowner places an offer on a new property before selling their existing home. Their real estate agent expects a fast sale, but it doesn’t happen. Imagine the sense of panic as closing day arrives without a buyer in sight. This is one reason a knowledgeable expert is not a luxury in today’s challenging landscape. Be sure to ask a potential real estate agent about their credentials and ability to pivot in an unpredictable market.
- When selling, their expertise can be the difference between selling for top dollar or not at all.
- When buying, a skilled real estate agent can mean getting a home at the right price or getting shut out of the market altogether.
Do you need to sell your home and every dollar counts? The posts below can help set you up for a successful transaction:
- What Are The Secrets Of Staging A High-End Home In Toronto?
- What Is The Best Way To Sell A Vacant House?
- How Do I Attract High-Quality Buyers to My Listing?
Their Experience Is Limited
A new or inexperienced real estate agent might be inspired to go the extra mile for you as a client. However, their dedication won’t help you if they’re trying to navigate a market they’ve never had to deal with before.
This can happen after a sustained seller’s market where nearly every listing will sell without much effort. In this case, you can almost count on finding a buyer, but you may not fully maximize the value of your transaction. As a buyer, a novice real estate agent likely doesn’t have the skills to negotiate for your best interests in a market that does not lean in your favour.
It Sounds too Good to Be True
It may be tempting to choose a real estate agent who offers out-of-this-world results regardless of what is happening in the current market. Alternatively, they may be offering their services at a deep discount that seems too good to be true. Just keep in mind that none of these promises mean anything if they don’t have the knowledge or the track record to deliver.
Rather than choosing an expert who tells you what you want to hear, it’s far better in the long run to work with someone who will be honest and transparent. Without realistic expectations and a workable plan, you could be setting yourself up for failure.
If buying a home is on your agenda, the posts below can help you stay on track:
- Is it Better to Buy First or Sell First in Toronto?
- What Etobicoke Home Is Right for Your Growing Family?
- 7 Signs You’ve Found The Right Home
They Are Unresponsive
The number one complaint people have about their real estate agent has nothing to do with the commission. It’s often not even about the final results. The biggest issue is that once you’ve signed a listing or buyer’s agreement, your agent is suddenly nowhere to be found.
They don’t answer your phone calls, and they don’t respond to your emails or texts. If they do get back to you, it can be too late to fully capitalize on an opportunity. A high level of professionalism and service is one of the most critical attributes of a good Realtor®.
Ideally, you want the whole package: excellent service combined with superb negotiation skills and a deep understanding of the current market. If you want to elevate your buying or selling experience, a concierge real estate service might just be the way to go.
Do you have an urgent home buying or selling situation that requires expert advice? Our highly skilled real estate agents are here for you. Reach out today to 647.232.7317 or email ana@asantos.ca to take the next step.