Interviewing your Toronto real estate agent prior to hiring him is a sign that you are a smart home buyer.  You need to be selective of who you work with and bear in mind that the agent is also interviewing you in the process.  Both of you should ask questions pertinent to the potential transaction.  Here are some questions to get you started in your search for the ideal agent.

Have you been in this business a long time?

Of course the longer they have been in the business the more experience they have but that does not mean that you should completely ignore the rookies.  Newly licensed agents who have competent mentors and good training can do a great job as well.  In fact, they tend to have more time on their hands and can concentrate on you.

On average what is your list to sales price ratio?

This is perhaps one of the best indicators of the agent's ability.  A good buying agent should have the ability to negotiate a selling price lower than that on the list.  If you are looking for a listing agent, his record should indicate that he is able to sell houses at a price very close to that listed.

Based on my specific needs, what is your best marketing strategy?

If you are looking to buy a house you need to find out how he is going to look for your new home, how many homes he will see prior to finding one that you can look at, and if you will have other buyers competing for the same property.  Additionally, find out how he plans on handling more than one offer and if he will present the offer to the selling agent personally.

If you will be selling, then you want to know how the agent is planning on selling your house, if he has a direct mail campaign and how often the agent advertises. In addition, find out where the advertising is done and ask to see a flyer if that is part of the marketing strategy.  Online marketing is perhaps one of the most powerful marketing strategies therefore be sure to ask how the agent markets on the Internet.

May I please have references?

Ask for references and check them out.  Let the Toronto real estate agent know that you will be contacting them with further questions.  Be sure to ask about the relationship between the agent and the references given to you.

What three things make you different from the competition?

Everyone knows what their strengths are and any agent worth his salt will not be hesitant about answering this question.  Most people are looking for assertive, communicative, analytical, friendly, honest, easily reachable agents who are also excellent negotiators.

What are your charges?

Keep in mind that all fees related to a real estate deal are negotiable.  Usually the percentage commission is between 1 and 4 percent separately for the seller and the buyer.  As an example you may have a listing agent charge 3% for the buyer's agent and for himself, making a total of 6%.

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