I have met many people who think all real estate agents are the same, until they have a bad experience. What is true is that you have a lot of options when choosing a realtor, but how can you tell which ones are good and which ones aren’t?
The truth is, the difference between a good agent and an average agent can have a real impact, not just on your stress level, but on your bottom line.
What actually makes a good realtor? Let’s break it down.
It Starts With Listening
A good realtor will sit down with you and have a conversation to learn more about you, your lifestyle, and your expectations. They need to understand the “why” behind your move. Once they do, they can put together a plan.
Whether you’re buying your first home, downsizing later in life, or moving up because you have a growing family, the strategy needs to be built around you; it’s not a one-size-fits-all plan.
Local Knowledge Beyond Google
In today’s world, anyone can pull up sold listings online. That used to be a large part of the agent’s value, knowing how much a property sold for. Essentially, gatekeepers of information.
Today, a good agent can provide context for the data. For example, in The Beaches, on the east side of Toronto. You can find a 2.5-storey detached house, one located south of Queen St E, and one located north of Queen, two similar houses, but with different values. Why, because this neighbourhood is so nuanced that values can change street by street.
For buyers, this kind of knowledge can help avoid costly mistakes. For sellers, this knowledge will help you better position your home.
Interested in selling your house? Read these related blogs for more insights!
- Does Staging Help Sell a House?
- When Should Seniors Sell Their Home?
- When to Worry About Your House Not Selling
Strong Negotiation Skills (This is Where Money is Made or Lost)
This is where you will find the difference between a good agent and an average one. Understanding timing, people, and leverage are key elements for the best outcome. Knowing when to go on offence is part of any negotiation strategy. Equally important, playing defence helps you achieve your goal.
Knowing who and what you’re dealing with is important. Another important element in your strategy is knowing when to walk away. A good realtor will recognize when you’re making emotional decisions. We rarely make good decisions when we’re highly emotional.
Whether it’s navigating competing offers, dealing with inspection issues, or renegotiating during the conditional period. A good agent will advocate for you, find solutions, and add value.
The difference between a good agent and an average one could cost you tens of thousands of dollars!
A Clear Strategy
There’s a misconception that you only need to list your house on the MLS and it will sell itself. That’s hoping and praying; not a strategy.
For Sellers: A good agent will provide a comprehensive pricing strategy for listing your home. Not just tell you what you want to hear to get the listing. They will outline steps to prepare for the market and maximize its value. Everything from timing, staging, and marketing. Launching the property to the market with anticipation and positioning the property above the competition.
For Buyers: It’s all about having a plan and understanding the current market conditions. A good agent will have a strong sense of what’s happening. Knowing when to move quickly, or when to be more patient and take your time. They will help you set realistic expectations. Good agents don’t wing it. They will guide you with intention.
Communication That Actually Reduces Stress
A good realtor keeps you informed of what’s happening at all times. They will have a process and system. With clear and concise communication, not a bunch of jargon. You want an agent that’s proactive, not reactive. Here’s the reality: buying or selling can be emotional. Especially if you’re buying a home for the first time, downsizing after living in your home for a long time, or selling a family home (estate sale).
You should never feel like you’re navigating it alone.
A Strong Network
When you hire a good real estate agent, you’re not just hiring one person; you’re getting access to their network of professionals. Over the years, I have built relationships with trusted:
- Contractors
- Lawyers
- Mortgage Professionals
- Stagers: I actually do this in-house, and it’s a free service for my clients
Being surrounded by the right people makes the process smoother. Everything from preparing the home for sale to navigating a more complex situation like an estate, having trusted professionals will save you time, money, and stress.
Experience With Life Transitions Not Just Transactions
Real estate isn’t just about buying or selling. It’s tied to life events. Whether you have just had a child, are going through a divorce, lost a loved one, or are retiring and want to downsize. The sign of a good realtor is one who has experience dealing with a variety of situations and understands these are emotional transitions in your life. They won’t rush you or pressure you. They will guide you at a pace that feels right.
Gearing up to buy? You’ll find lots of advice in these blog posts!
- How to Make an Offer on a House
- When is the Best Time to Buy a House?
- What Does it Cost to Buy a House in Scarborough?
Honesty…Even When it’s Not What You Want to Hear
A good agent isn’t there to tell you what you want to hear; they’re there to tell you what you need to hear. This could mean pricing your home realistically to sell it, which might be lower than you thought. Advising you against a risky purchase that you will regret, and then have buyer’s remorse. They might suggest being patient and waiting until the time is right for you.
Some agents’ strategy to get your listing is to tell you what you want to hear. You become frustrated by the lack of action, but they’ll be patient and wait you out until you reduce your price. The data shows that you will sell for less when you do this than if you price your home correctly from the beginning. Your overpriced home will become stigmatized if it sits on the market.
People wonder what is wrong with it. This is the exact conversation I had with buyer clients who were interested in an overpriced listing. They were waiting for the new listing blush to wear off for the sellers to get realistic, but now they are wondering why no one else is offering. With each passing day, the amount they are willing to pay is declining.
Actually, they would have been willing to pay more just 2 weeks ago. By the time sellers reach the right price, the market has shifted, and they will have missed the mark again.
Good agents protect their clients’ best interests, even when the conversation is uncomfortable.
How Do You Choose The Right Agent
With so many options available, how do you know which agent is good for you? Here are some simple questions to get you started:
- Are they knowledgeable? How do they show it? Anyone can tell you they are knowledgeable about your area. What evidence do they give you?
- Do they make data-driven decisions? What evidence do they show you?
- Do they actually listen to you? Who is doing more talking, you or them? Are they asking deep questions about you?
- What do they bring to the table that others aren’t?
- Will they personally do the work or delegate it to a team member?
- Are they returning calls promptly?
- Do they invite you to ask questions?
- Do you feel pressured or rushed?
- Are they trying to buy your business? If they can’t negotiate their fee, how are they going to negotiate for you?
- Do you sense any defensiveness?
- Do they have lots of glowing reviews online, and no bad ones?
- Do they come from a trusted referral source?
Take your time and make sure you find the right fit. You don’t have to go with the first agent you meet. It is good practice to interview at least 3 before making your choice. Just like with choosing friends and or partners, you want a good fit.
This is one of the most significant transactions most people make in their lifetimes. Choosing the right agent will influence your outcome.
If you’re looking to explore your options for your next chapter, I’m always happy to have a conversation.
Searching for a great agent? Get in touch with me! Give me a call at 647.283.2127 or email stuart@stuartnodell.com.
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