As a Burlington Realtor, admittedly I have a bias when it comes to defining a great Realtor. Having spent my entire career in this field, I have had the opportunity to meet and transact with Realtors of all different ages and levels of experience.
As a broker, I have hired, trained and mentored many talented Realtors. I have also seen firsthand the core competencies a new real estate professional must possess in order to be successful in this industry.
My home buyers and sellers, on the other hand, haven’t usually had the same opportunity to develop such a wide perspective. So how do you as a buyer or seller spot a Burlington Realtor with the experience, the skills and the resources to get the job done right? In this article I will try to shed some light on what to look for. Let’s first define what it really means to sell a house.
Many sellers will focus on the features and aesthetics of their home first, such as the number of rooms, interior design features and curb appeal. These are important factors that do have influence on how well a home is perceived.
A good Realtor will know how to capitalize on these features and aesthetics, but we’ll come back to that. First and foremost, let’s clarify what it actually means to sell a house here in Burlington, Ontario.
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The Role and Responsibilities of Your Realtor
Full Disclosure: Selling a house requires honesty, ethical practices, legal advertising, due diligence and a legally binding contract. A Realtor is required to know, practice and guide clients through the laws of buying and selling real estate in Ontario. Although these laws are taught and tested in the classroom before a Realtor is awarded a license to transact, most Realtors come to truly understand the laws and their ramifications through repeated exposure and experience. This is often under the guidance of a more senior Realtor.
Legal obligations and disclosures are one such area where a seasoned Realtor makes a difference to both buyers and sellers. Sellers should be advised to disclose any major issues about their property to would-be-buyers. This could include such as pending legal issues, open permits on the property or major past repairs.
Additionally, sellers are legally required to disclose any material latent defects that would affect a buyer’s decision or purchase price and are not easily visible or discoverable through a standard home inspection. Failure to do so is considered fraud in the legal sense and can lead to rescission (canceled sale) a lawsuit and/or costs for damages.
Moreover, sellers and their Realtors must disclose anything that would stigmatize a property, such as deaths, murders, suicides, grow-ops, former rooming houses, and even in some cases, urban legend. Now that’s scary stuff!
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Your Decision Starts With One Small Step
The legal transaction of buying and selling itself is a multi-step, multi-variable process that requires an experienced Realtor to ensure both parties, buyer and seller, are adequately protected. An Agreement of Purchase and Sale is a legally binding contract.
Due diligence is critical. A seasoned, reputable Burlington real estate professional will have lived through several years of transactions here in Burlington, keeping up with community evolution, changing laws, best practices and licensing requirements.
Additionally, they should also have broad knowledge of the history of homes in the area. Details like the builders, the materials and building practices used at the time of construction. Any known typical construction defects, non-conformities and building code violations, renovation restrictions, potential insurability issues. Also, future development plans in the area, school zoning and any proposed zoning changes.
As a seller you want to ensure you are hiring a Realtor with the knowledge and experience to guide you through a successful sale that will ultimately close without dispute or a breach of sale.
As a buyer you want to hire a Realtor with the knowledge and experience to recognize, identify and bring forward any relevant information that could impact your purchase decisions and the long-term investment you are making.
Unfortunately, these cannot be fully learned in the classroom.
Your Realtor Selection Checklist
So now that you know you want an experienced real estate professional, you might be wondering how to identify the right Burlington Realtor to get the job done? Let’s first make a checklist of the key competencies and services an experienced Burlington Realtor will offer you.
This is not meant to be an exhaustive list, but rather a good starting point to help guide you through a Realtor interview and provide a framework for asking the right questions and selecting a strong real estate professional to partner with.
A Skilled Burlington Realtor Will Have:
- Multiple Offer Management
- Sphere of Influence and a Solid Reputation Within the Real Estate Community
- Reference List for trusted Legal, Mortgage, Inspection, Repair, and other Professionals
- Access to both MLS and Off-Market Opportunities
- Deep Local Neighbourhood Knowledge and a History of Transactions in Your Area
- Days-On Market Area Averages vs their Personal Statistics
- Percentage of List Price Area Averages vs Their Personal Statistics
- Data Analysis, including Price Per Square Foot, List to Sale Ratios, Absorption Rates, Trend Analysis and Market Statistics
- A Comprehensive Market Analysis and Pricing Strategy Customized to Your Location
- Professional Staging Services for Your Home
- Professional Photography and Videography, 3D Tours and Floorplans
- Multi-Channel Marketing Program and Strong Social Media Presence
- Knowledge of Potential Lenders, Current Rates, Rebate Programs, Regulatory Compliance, Contract Laws, Disclosure Requirements
- Proven Financial Acumen, including Cost Estimations, Investment Analysis, Mortgage and Affordability Calculations, Rental Yield Analysis (if applicable) and Cash Flow Projections
- Emotional Intelligence, Even Temperament, Excellent Communication Skills and Proven Negotiation Success
- Community Involvement and Participation in Networking Events
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You Are in Experienced Hands
If this sounds like a long list, well, it should be! Buying and selling a home is one of the largest personal, financial investment transactions you will ever make. It has both short-term and long-term implications on you as buyer or seller, and on your loved ones who may also be a part of the process.
The right Realtor demonstrates integrity throughout the process. They should have a strong moral and professional compass that goes far beyond making a quick sale. It is critical to ensure your Burlington Realtor has the foundation, qualities and services to make your experience as smooth as possible.
This allows you to focus on the more personal and emotionally rewarding aspects of your home and living decisions, knowing you are in experienced hands that will guide you with the utmost professional care every step of the way.
For more details on buying or selling a home, or to kick-start your journey, get in touch with one of our Burlington Real Estate Agents. You can send an email to sarah@sarahlogue.ca or call 905.331.6790 to take the next step.
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