Well I can’t think of a better time to post this blog. After seeing the uproar of the CBC Marketplace video in regards to realtors, what is a better time then to discuss the best way to select a Realtor? As CBC has so graciously pointed out the negative attributes of some realtors in the industry, why not take a look at the realtors that are doing the job correctly.
Before I go into detail about selecting the correct realtor for you let’s first come to an understanding that the CBC, like all media sources, are looking for a story. This story is targeting an industry that is constantly under scrutiny because of the bad apples in the bushel. It’s like what they always say, have a great experience the individual will tell 10 people, have a bad experience the person will tell hundreds. Unfortunately this is true in regards to the industry I recently joined. The CBC claims that 6 out 10 realtors are doing corrupt under the table deals to make higher commissions. This number is very inaccurate. The CBC selected 10 of the top real estate teams they suspected of doing double end deals by going against the law and code of ethics. So they did not select a wide enough and non-bias sample to come to this conclusion. So here we are listening to the media misconstruing the facts yet again. I am not saying everyone in this industry are angels. Trust me I have seen the bad ones. But I have also seen the amazing ones who are incredibly knowledgeable and have their client’s best interest at heart.
So how do you know if you are making a deal with the devil or an angel?
It’s tough! As a realtor we are expected to do our due diligence, so you should be doing yours as well. Trading real estate is a business, so treat the transaction of your house as a business move. You are the C.E.O. of yourself and you need someone to protect your best interest in an area you are not equipped to handle on your own. This is a large investment, for the average person the largest transaction you are ever going to perform. Are you going to hire the first person that happens to put a card in your mailbox? I should hope not…
Do what every industry does, interview people. See whom you connect with and has the same mind set as you. Trust me, out of the thousands of realtor’s out there, there must be one that you can trust. Your intuition and judgment is your best tool to use when meeting with different realtors.
So how do you know if the realtor has your best interest at heart?
If a realtor is there for only a half hour or less, (unless there was some kind of emergency) this is not the right realtor for you. Besides the conversation, tour of your house, discussion of what they have to offer you, the documentation alone will take about an hour to talk through. We should be investing our time with you.
Going over documentation is one of the most important parts of dealing with a Realtor. After meeting with a good realtor you should have an excellent idea of what agency is. There are at least 3 mandatory forms OREA has that explains exactly what is allowed and not allowed in regards to representation, and multiple representation. The Realtors caught on CBC’s Market place clearly do not have a good understanding of the different clauses within these contracts.
Do not sign anything that is not explained to you, understood by you, or you have personally not read. Your realtor should spend up to an hour or more explaining documentation to you. This is our job; I know I have spent a lot of time; money and energy learning this and many other amazing realtors have as well. We are the type of people you want to have working for you.
If you take one thing away from this blog post please remember, “You get what you pay for”. Compensation is based on the services provided if you only want to spend 1% you will only get the quality of 1%. The good realtor’s know their value.
If you have any questions or comments please feel free to contact me I am always willing to carry on the discussion and I am here to consult you in your real estate needs.