Many people are known for doing away with the services of real estate agent yet they spend much of their time doing shopping. This is not right, and it might cost you a lot of money. The high demand for houses has led a surge in the prices. The cost of hiring an agent is much small as compared to that of buying a modest home. A real estate agent will help you in getting a property that matches you much faster. Adopting the tips discussed below will help you in finding a good real estate agent in Canada.
Understanding your agent
Always make an effort of understanding the agent’s incentives. Find how and why they are differing from yours. Some of these agents might be pressing you to sell your property or home quickly. Such sales will only benefit the agents. Some of these individuals are not concerned with your selling price. Avoid rushing when making a bid. You can make a lot of money waiting for the last bid.
Avoid hiring a friend
Some people have ended up hiring their friends, acquaintances or cousins as agents. This is absolutely wrong. Avoid hiring an agent because you know her or him. Some of the individuals who have fallen into this trap have ended up losing their money by selling their properties at a low price. You will find it awkward saying no to your friend.
Negotiating the agent’s price
Some people believe that these professionals charge very high rates. Some of them charge less than the others yet they are offering the same service. In Canada, agents will charge you a commission ranging from 3-5 % of the property value. Negotiating the commission is very important. Avoid working with a dealer before knowing what he or she charges.
In addition to this, this commission can also be structured to be an incentive. For instance, you can decide to double the commission in case the buyers exceed your price. This motivates the agents to get the highest bidder when they are selling a property. For instance, you will have to pay an average price of $ 25,000 in Toronto. The price has gone up by 100 % over the past one decade.
Get to know how the real estate industry operates
Agents working for the big firms are known for charging a high a price. Agents with big overheads should always be avoided. Such individuals might charge you a high commission to meet their bills.