Tag Archives: toronto realtor
What does a Realtor do?
Richard Silver, Toronto Real Estate Board President
Like most Realtors who have worked in the profession for a number of years, from time to time I have been asked to explain the value of a Realtor’s services, and what we do throughout the course of a transaction.
Here is my take on what’s involved in our work and the most important contribution a Realtor can make to what is likely a consumer’s largest financial decision.
Most of a Toronto Realtor’s day involves following the market, not just specific houses and neighborhoods, but the ups and downs of the marketplace in general. We also deal with the ups and downs of our clients, their successes and failures, as well as changes to their family structures.
Comment: Seriously – I read at least 10 real estate articles a day, or more, from a variety of sources. The good, the bad, the completely wrong and insane. I write about real estate every day, be it on one of my 3 real estate blogs, Twitter, Facebook, or for a printed or online publication. This is what I do for a living. I talk about it all the time, with clients or friends or family. I know a lot about the market, from prices to interest rates, demographics and immigration patterns, buyer profiles and neighbourhood trends. Because it is my job. Because I need to know all of this to do my job as best I can. That is what I offer you, a wealth of knowledge about the subject. And there is nothing that jerks my chain more than people who tell me I don’t know what I am talking about. Or that I am biased, or lying or worse. People who’s job is not real estate who claim to know better than me. Not that I claim to be perfect or know everything, but I truly study my industry day in and day out – much more than almost everyone else in my industry and certainly more than people who work in accounting or graphic design. So please, listen to what I have to say, it comes from a wealth of background, knowledge and thought.
Eventually we start to develop a way of seeing so much product that we become adept at sifting out the good from the bad. We recognize that buzzwords like “knob and tube wiring” or “old furnace” are fixable if the house is right.
As my first Realtor advised me, “You can fix anything in the house with money but you cannot move the house.” His words guided me to a less expensive house on a great street at a time when I was caught up dreaming of the renovation that I had seen on a less desirable street. I have never regretted that decision, and I know that I would have made a mistake had I not listened to his guidance.
Toronto Realtors know that buying and selling a home is a very emotional experience. One of the best services that a Realtor provides is their third party unemotional observation, which can help Buyers and Sellers realize what is important, what is worth fighting for, and what that extra bit of mortgage will really mean in the long term.
On occasion, media reports infer that Realtors somehow create the marketplace. This couldn’t be farther from the truth. It is, in fact, the Buyer and the Seller who do so. It is natural for the Seller to want the highest price possible for their property and also for the Buyer to want to purchase for the least amount. How far each is willing to go is entirely up to them.
Comment: Like I said above, people who do not work in the industry saying things like always upset me. The market is created by 400,000 different people every year. There are 100,000 som-odd sales in the GTA each year. So there are 100,000 buyers (never mind the friends & family who advise them) and their 100,000 buyer’s agents, plus 100,000 sellers (and their friends and family) and 100,000 listing agents. Thus, 400,000 people – 200,000 of which are not real estate agents – determine the market every year. Add to that the mortgage agents, home inspectors and others who are involved in each transaction and it is easy to see that Realtors are not the ones “creating” the market. It is a free market, with prices and sales volumes dictacted by the choices of buyers and sellers, each one acting of their own volition and with their own motives. We only exist to help facilitate each transaction, to advise and help.
When six Realtors and the Buyers they represent attempt to purchase one house, the math will tell you that there are going to be five unhappy Buyers and Realtors who do not achieve their goals. Does that sound like fun? Is that really what Realtors want? Where is the benefit for the Realtor?
Comment: No, that sucks. We hate it. We hate losing more than you do! And unhappy clients make us unhappy. If they lose enough bidding wars, they will go elsewhere. Through no fault of our own, we have no done all of this work only to have the client leave – and we don’t get paid. Truly, 90% of my life is working for nothing. But, just like the buyers, we have to get back on the bike and keep going.
These days, Realtors try to keep their clients realistic, set goals and help them remember that getting excited about a kitchen design to the exclusion of having a main floor family room is steering them off of their must have list, which was responsible for initiating their search in the first place.
Providing that kind of guidance is the most important thing that a Toronto Realtor can do, notwithstanding making sure that the Is are dotted and Ts are crossed. It is what keeps us busy, no matter what market we are in. This most important face-to-face contact is one that a computer program will never be able to replace.
Comment: Bidding wars suck, but if you want that perfect house… you may not have a choice. Work with me, listen to me, we will do our best to get that house for you. But without that trust, there is little we can achieve together.
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Contact the Jeffrey Team for more information – 416-388-1960
Laurin & Natalie Jeffrey are Toronto Realtors with Century 21 Regal Realty.
They did not write these articles, they just reproduce them here for people
who are interested in Toronto real estate. They do not work for any builders.
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Great deal relies on price, sale time
National Post
Anyone who has ever sold a home knows two things dominate: Getting the best price and a getting a speedy sale.
Setting that price can be a combination of art and science. It means a deep understanding of the market as it stands today — not last week or last month. It means a profound sensitivity to what buyers want and can afford. And it means having the ability to create the perfect strategy for each home.
That is where Robert Greenberg and his team at Harvey Kalles Real Estate Ltd. shine. With 27 years of experience under his belt, Mr. Greenberg is a master at setting the perfect listing price in any market, no matter what the challenges are.
To understand just how deep their expertise runs, just look at the results they have achieved for the men and women who have entrusted them with their most highly prized possession — the family home.
Clients today regularly get between 97% and 100% of the asking price, and his team’s turnaround time ranges from three days to three weeks.
“Pricing is absolutely crucial,” he says. “The tendency of many sellers is to overvalue their homes. They are out of touch with today’s market realities.
“At the same time, in this market, you may want to under-price your home because we are back to the many multiple offer situations we have seen before. My selling clients deserve to get every dollar their home is worth.”
He offers some recent examples as to the power of perfect pricing.
A custom builder created two beautiful new homes. On the advice of another agent he listed each home at $1.2-million when Mr. Greenberg suggested under $1.1-million. They failed to sell, so he reduced the price to $1.139-million. No interest at that price either.
Then he made a smart move; he called in Mr. Greenberg.
“My first piece of advice was to list only one house at a time,” he says.
“I didn’t want them competing with each other. Then I told him that in today’s market, the price would have to be $1,049,000.”
The owner listed the first home at $1,049,000 in June. By early July, it had sold for $1,030,000. Mr. Greenberg listed the second home at the same price once the first found a buyer. It sold within days at $1,049,500, with multiple offers and $500 over asking.
“There was another home… worth mentioning. It too shows the power of setting the right listing price,” he says.
In this case, the home had been represented by another agent who had set a $1,849,000 asking price. Three months later, with no success, the owner called Mr. Greenberg and his advice was that it was over-valued and to re-price the property at $1,749,000.
She agreed but one day later, she raised the price up to $1,799,000. It sold in one day for $1,728,000.
“Understanding the market and setting the perfect listing price is absolutely crucial these days,” he says.
“It is probably the single most important factor for anyone who wants a speedy sale at the best possible price.”
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Contact the Jeffrey Team for more information – 416-388-1960
Laurin & Natalie Jeffrey are Toronto Realtors with Century 21 Regal Realty.
They did not write these articles, they just reproduce them here for people
who are interested in Toronto real estate. They do not work for any builders.
———————————————————————————————————————
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Know the value of a REALTOR®
Bill Johnston – Toronto Sun
It’s said that the more things change, the more they stay the same and this is certainly true with respect to Torontonians’ interest in real estate.
Our passion for real estate stems from the fact that as a world city, Toronto property values hold tremendous long-term promise. The process of buying and selling a home though has become increasingly more sophisticated in recent years, requiring knowledge of economic trends, regulatory requirements and the latest marketing techniques. It’s therefore more important than ever to use the professional services of a REALTOR®.
In Ontario, REALTORS® acquire their knowledge through a challenging education program followed by a supervised training period as required by the Real Estate and Business Brokers Act. They’re also required to upgrade their education on a continual basis, obtaining at least 24 Continuing Education course credits every two years.
Naturally, a vast amount of skills and knowledge is acquired along this educational path. Your REALTOR® will for example, learn how to use the Multiple Listing Service® which can generate information on sales volumes, average prices, and days on market, by housing type and neighbourhood, that will help you determine a suitable offer or listing price.
They’ll gather all of the details on our home’s features to be displayed on the MLS®, which along with the Buyer Registry Service, is used to match buyers’ preferences with properties available for sale.
To confirm a number of specifics that are important to every transaction like current taxes on individual properties, ownership histories and lot size details, your REALTOR® can also access the Municipal Property Assessment Corporation’s database.
They may extend their information gathering even further, retrieving data like streetscape imagery, mapped neighbourhood sales and average local incomes from Teranet’s GeoWarehouse.
Your Greater Toronto REALTOR® may even advise you on new home construction options using RealNet Canada’s database.
You can count on a REALTOR® to help you interpret the considerable range of data they retrieve and to offer insight into a number of other key areas as well.
They can for example, advise on features that are in demand in today’s housing market, and offer an objective perspective on improvements that will achieve the best return on investment for your specific home.
They have an unmatched depth of understanding when it comes to individual atmospheres, school ratings and neighbourhood amenities.
Your REALTOR® may also offer insight into government programs that may be suited to your individual situation.
For more information on the many ways their professional expertise can benefit you, talk to a REALTOR® and visit www.TorontoRealEstateBoard.com.
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Contact the Jeffrey Team for more information – 416−388−1960
Laurin & Natalie Jeffrey are Toronto Realtors with Century 21 Regal Realty.
They did not write these articles, they just reproduce them here for people
who are interested in Toronto real estate. They do not work for any builders.
———————————————————————————————————————
Related posts:
- Realtors need to know quite a lot The process of buying and selling a home though has…
- Use the services of a Realtor This spectrum of choices means that it’s particularly important to…
- There’s more to us than MLS While Toronto real estate agents can use the MLS to…
- Toronto real estate agents have many resources While real estate agents can use the MLS to match…
- Choose a home that fits your style From a condominium in the heart of the city to…
