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With infrastructure development taking the fore in the current, commercially driven environment, real estate businesses have come to the fore as the most profitable entity over the past few years.
Over the years, many countries have looked at real estate as a lucrative business entity due to increasing land prices, and due to the demand in land plots in commercially developing areas.
Toronto, like other major cities in the world, has become a home for thousands of people who have migrated to Canada looking for greener pastures. In fact, Toronto has become a city which houses a population belonging to diverse cultures. The boom in the influx over the years has resulted in a boom for Toronto’s Real Estate business.
The number of homes for sale has also increased drastically over the past few years as a result of people looking for permanent accommodation. As a result, Toronto’s real estate market has blossomed into one of the most lucrative businesses.
Whenever there is a demand, and when it has the potential of bringing in profits worth millions, there is also the risk of people using the opportunity to cheat the public by pretending to be realtors. Therefore, it is imperative that the buyers are vigilant of those impostors and do not end up being cheated. The first thing is that the buyer needs to do his or her own homework. In today’s world of internet, doing a research on the subject and the realtor is not difficult, but is also not that easy. The buyer has to do his or her homework before zeroing in on a genuine realtor, and a realtor who suits your needs.
The first step is to look at your immediate source. You could ask your friends, relatives or a trusted colleague. Their suggestions could lead you towards a professional realtor.
But, that alone is not enough. You should do your own research. The internet is a boon when it comes to research. Of course you would be confused over the mixed responses by satisfied and disgruntled customers, but you could narrow it down to a few based on the percentage of positive responses. Some of the positive responses with an agent could give credibility that may work for the buyer. A background check on the agent will help the buyer to make a determination on whether they could fit their requirements.
The second step is to meet with your potential agent in person. A mere online check would not suffice if you are to invest millions on a real estate. Meeting an agent will allow you to put forward your questions and doubts directly. The manner in which he or she responds would help you further in narrowing down your list. Make sure that you ask them of their previous experiences, their challenges and how they tackled those situations. This would help the buyer to learn about the skill levels, their strategy and their negotiating capabilities.
The next step is that the buyer should study their shortlisted agents and see what they offer. The customer should look at agent and see what he or she is offering that others are not. Thereby, you have a check on the realtor’s competitive advantage. Some agents would boast of the number of years in terms of experience, whereas the newer ones would offer a different type of service that would be innovative and current.
Apart from the above points, you should also follow your own intuition about the agent. Does the buyer share a comfortable rapport with the agent? Are they comfortable around each other? Are there negative vibes?
The buyer needs to think of these aspects as he or she constantly deals with the realtor in order to get a sense of the person. As you keep in touch, it is important that you maintain a good rapport and that you get along well before you make the selection.
The final step is once you select the realtor and commence a working relationship. The process does not end once you select the appropriate candidate. It continues.
An ongoing review of the working relationship is a must. There might be instances where the agent would put in a lot of effort in the initial stages but slow down later on. Therefore, maintaining an ongoing review help you keep a tab on the pace and the effort put in by the agent.
This helps to prevent misunderstandings between the two parties and helps them to address issues and problems as and when they arise. Following the above steps would help you find a professional realtor who would satisfy your needs.
Realtor Ramanan updated their cover photo.
