With over 60,000 agents in Toronto’s real estate industry, finding the right one might feel a bit like finding a needle in a haystack if you’re not sure where to start. Whether you’re a prospective buyer who is looking for the right realtor to trust or a seller on the lookout for an experienced agent to connect you to a potential buyer – the process of finding a good real estate agent is a tedious one.
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That’s why it is best to march into the hunt informed. Whether you’re looking for a buyers agent or a sellers agent, we have jotted down some tips to help you choose a good real estate agent in Toronto.
We understand your position. Buying or selling real estate is one of the most significant transactions you will ever make, so having the right real estate agent on your side is critical. Many people prefer using the same real estate broker as their family or close friend. While it’s definitely a great place to start, you should also conduct your own research to ensure you find the real estate brokerage that perfectly understands your needs.
Choosing A Real Estate Agent: The Process
How To Find A Real Estate Agent In Toronto?
For those of you stuck in the ‘finding phase’, here are a couple of options and resources that you can use to find a good real estate agent in Toronto:
Referrals (friends & family): One of the easiest and most convenient ways to find a real estate agent is to ask your family or close friends for a referral. Word of mouth is all about trust and when you’re looking for help to buy or sell a home, a significant transaction for most, having someone trustworthy helps. With that being said, the drawback of relying on referrals is that you do almost no research of your own – you’re completely in the dark, relying on somebody else’s experience.
Real estate referral agent: Another referral route is to use the services of a local, real estate referral agent to connect you to the right real estate agent. It’s a slightly more expensive option as you’ll have to compensate the referral agent for his/her services.
Organic search presence: You can find a real estate agent the same way you find almost everything else today: by searching for them online. Most real estate agents today have a prominent digital presence (websites & social media profiles) with lots of valuable information such as their real estate investment portfolio, client returns, areas of expertise, badges, awards, etc. to help you make a decision. You literally need to type in keywords like ‘best real estate agent * location/neighbourhood* and you’ll have a laundry list of potential agents to start meeting & interviewing.
Online reviews: In Toronto, RankMyAgent.com & RateMyAgent.com are two very popular real estate agent review sites and you should be able to find a lot of good real estate agents there. Reddit is tricky – it can be a good source if you know your way around the platform.
Advertisements: Some people are wary of all kinds of marketing communication and choose to immediately distrust them. Others choose to use it as a means of information. If you belong to the latter category, local advertisements can be a great source to help you find a potential agent.
How To Choose A Good Real Estate Agent In Toronto?
Step 1: Do some research on the best real estate agents in your area
Most agents have a presence on the internet. Step 1 is to use that to your advantage to make a list of realtors that you’d like to meet. Finding potential real estate agents could be simple as Googling them. Take notice of their existence. Before you meet them, try to get to know them. It will be easy for you to pick who you want to work with as a result of this.
Step 2: Speak with or meet with a number of real estate agents
Selling or purchasing a property is a significant financial investment. You’ll need to locate someone you can work with and trust. So don’t be afraid to meet several people. Meet with them and inquire about their marketing plan if you are selling a house. If you’re looking to buy a house, inquire about how they can assist you. Read this article on “What does a real estate agent do?” if you’re not sure what services a Toronto real estate agent can give you.
Step 3: Interview a number of agents before choosing the best real estate agent
The first time you meet your realtor you may not have the opportunity to conduct an in-depth interview to check if he/she has the experience that you’re looking for. For the next meeting, make it explicit, and state your desire to interview them. You may ask questions, learn about their experience and working style, and assess their areas of specialization and professionalism. You want to work with someone who will be on time, has a proven track record of closing deals in your area, and will clearly answer all of your issues and inquiries.
Inquire about a few references. Your realtor should be delighted to offer these, and you’ll learn things like how long ago these people were clients, what kind of home they bought/sold, and how they felt about working with the agent.
Check out Toronto Real Estate Agent review sites like RankMyAgent.com and Google Reviews. You’ll notice our clients consistently rank us with five-star reviews! We’re proud of this and the service we offer. Likewise, other top Toronto real estate agents will showcase their reviews.
Step 4: Your real estate agent should be well-versed in the local market.
Your real estate agent should be able to confidently answer any questions you have regarding the local market. What are the characteristics of the various neighbourhoods in the area? Are there any nice schools or parks nearby? What is the average price of a property when it is listed and sold? You want to make sure your agent is knowledgeable about the areas you’re interested in.
Take their responses and compare them to your own study. An expert should be able to advise you on the optimum price to purchase or sell in your local market, allowing you to make the best selections possible.
Step 5: Make sure you and your agency are on the same page
You’ll have to work with your agent for a while, so make sure the connection seems appropriate. A good agent will also try to form a close bond with you. Is your agent attentive to your needs and budget, as well as what’s most essential to you?
While expertise and abilities are important, your agent must also understand your goals, so look for one who does.
Consult with your family or friends.
When we want to employ someone, we generally contact our friends or family, to check whether they had a positive experience with someone or not. It’s a good idea to ask your friends and family for recommendations, whether you’re looking for a contractor or a real estate agent. When it comes to it, though, there are a few factors to consider. Go to steps 4,3,2,1 when you get a recommendation from a family member. Once you’ve got a recommendation, double-check that they’re familiar with your market.
Are you confident that if your family purchased a home with a buyer’s real estate agent in North York, the same buyer’s real estate agent is also familiar with the High Park area? Or any other Toronto micro market. The real estate market in Toronto is divided into numerous micro markets. It’s critical that your real estate agent is knowledgeable about the market dynamics in your target locations.
Step 6: Confirm that your real estate agent is available to work around your schedule.
Is your agent a full-time or part-time employee? Of course, not all agents work the same hours, but it will give you an idea of their degree of expertise and market engagement. Full-time agents will also have more time to dedicate to you and will most likely be more willing to work around your schedule. It’s certainly worth looking for another agency if they can’t provide you with the time and flexibility you require.
5 Tips To Help You Choose A Real Estate Agent
Engage the services of a full-time real estate agent
It may appear easy, yet some buyers or sellers overlook this little but crucial detail just because someone suggests them to someone else. The Toronto Real Estate Board has approximately 60,000 Realtors. The majority of them aren’t full-time real estate agents. As a buyer or seller, you must work with someone who does real estate full-time, every day. Real estate transactions are among the costliest things a person may do in their lifetime. As a result, you’ll want someone beside you who does it on a daily basis and as a full-time career, not as a side hustle. Toronto’s real estate market is a high-demand, fast-changing market that is divided into several micro markets.
You should select a good realtor that understands how to assist you with your real estate requirements. The difference between choosing a good real estate agent in Toronto and going with a part-time relative might mean losing your ideal property since your realtor was unable to strategically assist you based on current market developments.
If you’re thinking about working with the Pierre Carapetian Group you should know we rank in the top 0.03% of Toronto real estate agents. We also have an entire team behind us including a professional interior stylist (free home staging, valued at over $5000) and a full-time Executive Assistant that is always at your disposal. We offer luxury concierge services so there is always a member of our team ready to help.
Your agent should have a well-thought-out strategy
Your agent should have a plan, whether you’re buying or selling, and they should be able to articulate what sets them apart from other agents in the region. You might also want to inquire about their top rivals.
You’ll be able to assess how they respond to this question — whether positively or negatively — and you’ll have access to a few additional comparison choices.
Look for a local agent that’s well-versed in the real estate industry
The real estate market in Toronto is enormous. There are several micro-markets inside it, and a real estate agent who is well-versed in North York may not be well-versed in East York.
Make sure your realtor knows your market when you meet with them for a buyer’s consultation or a listing appointment.
You may inquire about data such as Day on the Market, which refers to how long it takes for a house in a given neighbourhood to sell. You may also inquire about the current market competition or Month of Inventory. All of these questions can help you determine whether or not your real estate agent is knowledgeable about your market.
Trust your instincts
It may appear easy, but at the end of the day, it is exactly what you should do. Most individuals base their decision on whether or not they feel comfortable entrusting their most important possession to that person.
You get what you pay for
You may put your home on MLS for $150 and do everything yourself; you can list with a cheap broker that offers limited services; or you can list with a full-service broker and get the staging, marketing, experience, and strategy that comes with higher commissions. Decide what you require and how much you are willing to pay, then make your selection.
There are many discount realtors in Toronto, especially as we see the market shift. Some agents who are struggling to keep afloat might offer you a hefty discount. When this happens, ask yourself why and do some digging. Do they have a large social media presence? Do they spend time, energy and dollars advertising your property? Do they take professional photos? You’d be surprised how often we see properties listed with crummy photos taken on a phone. Most recently, this was how our agent, Rebecca was able to snag a killer deal on a fabulous condo for her client. The photos, marketing and cleanliness of the listing weren’t up to snuff, and the condo sat on the market because of it.
Choosing A Real Estate Agent: FAQs
What Percentage Do Most Realtors Charge In Toronto?
On average, throughout Ontario – a realtor’s standard commission is 5% on the selling price of the property. This commission is split between the buying agent & the selling agent. While these rates are the norm, realtors compete with each other by discounting their commission rate to win certain clients. Keep in mind, as we mentioned above, you get what you pay for.
What Are Some Of The Best Qualities Of A Good Real Estate Agent?
Your real estate agent must be responsive, very proactive & transparent in communication
Your agent must return calls and texts, as well as respond to emails. In the real estate game, regardless of your choice, punctuality is critical. Above all else, your agent should add value. You want your Toronto Real Estate agent to keep in touch with you on a frequent basis and provide you with the information you want when you require it, but also before you ask for it, or before you even knew you needed it.
Because your agent will be collaborating with a variety of different experts during the process, from attorneys to house inspectors and mortgage consultants, your agent’s communication skills are also crucial.
Keep in mind though that the best real estate agents in Toronto won’t ALWAYS be available to answer your call, you want them to be an active realtor with other clients – but, they should always call you back!
A tech-savvy realtor has more advantages than a traditional agent
There are a lot of excellent ways for your agent to use technology, and the greatest ones will use it to be more productive and achieve the best outcomes for you. Look at your agent’s current MLS listings. Is the presentation appealing? Because the majority of consumers begin their search online, this is critical.
Is your realtor on social media and does he or she utilize it to advertise themselves and their customers’ homes? Does your agent provide you with several methods to contact them in an emergency? Do they utilize software that allows them to sign papers electronically? Because buyers and sellers sometimes have conflicting schedules, this can help to speed up the process. These tools and methods will not only increase efficiency, but they will also demonstrate that your agent is up-to-date and active in the business.
A realtor with similar core values & a likable personality always helps
You’ll be spending a lot of time with your real estate agent, who will most likely continue negotiating on your behalf until you have a solid buy and sale agreement in hand, and even beyond that, until your property closes. If you’re the sort of person who needs to be reassured every step of the way, you could find it difficult to deal with an A-type real estate agent since you’ll feel ignored or, at the very least, your concerns won’t be confirmed as much as you’d want. Even though your agent is excellent, you may not be able to connect well because you do not share the same personality.
In each deal, there will be difficult periods. On Offer Night, or when your real estate agent wishes to submit an offer on your behalf, you may find it difficult to convey your concerns to your real estate agent. As a result, I strongly advise meeting and interviewing the real estate agent with whom you may like to work, and then determining whether you and your realtor are compatible.
Ideally, the realtor should have positive reviews online
Looking for a Toronto real estate agent online is a wonderful idea. Whether you have a reference from a family member or friend, I strongly advise you to seek at least one Toronto real estate agent online – particularly when it comes to real estate sales.
It’s important to remember that finding the ideal person may take some time, effort, and energy, but if you’re patient and put in the effort, you’ll most likely discover someone with whom you’ll get along. To put it another way, don’t be shocked if you don’t find someone you like immediately; finding someone may take some time. Although you could get lucky and discover someone who is a perfect match for you in terms of personality, experience, expertise, style, and so on.
Buying a property is a journey, not a sprint; it’s more akin to running a marathon or completing a triathlon and choosing the appropriate real estate agent or broker is simply the first step.
Finding the right Toronto real estate agent, means having someone on your side when it comes to negotiating, someone who is in your corner, someone who can coach and support you throughout the process, answering any questions you might have about home buying, homeownership, and more, and setting you up for success.
If you’re thinking of working with the Pierre Carapetian team you should know you’ll be working with one of the best real estate agents in Toronto. We’ve remained in the Top 1% of all Toronto realtors and have facilitated over half a billion dollars in real estate transactions. Book a call with us here.