Yes, everything is done online now. Yes, we all know how to Google what we want. Yes, we may think we have become experts on every topic, or at the very least an expert at finding information provided by the experts.
It is important, however, to understand that some things are better negotiated with an expert in hand, not by googling one. Real estate is no exception. To look for the best properties in your price range, offer advice in the buying process and negotiate the best possible terms when putting in an offer, hiring a real estate agent is invaluable. You will find yourself ahead in the real estate game.
The Ontario housing market is on fire. Many potential buyers are looking to jump on the property ladder. This is not an easy proposition with property prices skyrocketing, limited housing inventory to choose from, and multiple bids on a single property the norm rather than the exception. Prepare to pay above the asking price. Let your realtor guide you through the real estate minefield, saving time and money in the process.
According to the Toronto July 2021 Housing Report, the average house price has moved northward and now stands at 1.1 million. This represents a 31.4% year-over-increase. With prices in this stratosphere, the market knowledge of a realtor is imperative now more than ever.
The market may be slowing down slightly in the last few weeks, but expect over asking bids to continue through the first half of 2022 as Bank of Canada lending rates remain very low through the next year or so. This low lending rate will allow mortgage lenders to continue to offer discounts on mortgage rates for the foreseeable future.
Top Reasons to Hire the Services of a Real Estate Agent
In no particular order, here is a list of concrete reasons why it is always best to work with a realtor to buy or sell your property, especially in today’s very competitive housing market:
Your Real Estate Agent Has Market Knowledge - You may think you are an expert with all you have read and indeed your knowledge level may be impressive. However, the level of knowledge that a realtor will have; access to market trends, statistics and negotiating experience will prove invaluable.
Your Real Estate Agent has Access to More Listings - With a database that is not available to the public, a realtor has many more listings at his/her fingertips and access to properties about to come on the market; a property gets listed, that information is in your inbox before you wake to get your first cup of coffee.
Your Real Estate Agent Has Experience with Pricing Techniques - However you may think your pricing knowledge may be when it comes to selling your property or buying one, a realtor has market knowledge that will allow for very precise housing-driven numbers that are extremely competitive by viewing comparables.
Your Real Estate Agent is Seasoned in Dealing with Quick Transactions - If you want your property to be sold quickly or to make a quick offer that is closed quickly, a realtor is your go-to-person. With experience and the tools available, all transactions can be completed to professional standards at a speedy rate.
Your Real Estate Agent Is aware of all the Legalities involved - It is impossible for the average buyer to know about the complexities of the legal process of buying and selling a property. The legal parameters are very clear and must be followed for a sale to be formalized and legally binding.
Your Real Estate Agent has Professional negotiating skills - One of the skills that put your realtor in a league of their own is their well-seasoned negotiating skills. In order to get the best terms for their clients, realtors are very apt at negotiations with other realtors in the property market.
Being in the mortgage industry, I deal with many realtors, seasoned professionals that have been in the game for 20+ years, some even over 35 years; you want these types of individuals on your side when purchasing real estate. Need a referral, contact me.