Things you Might Ask Your London REALTOR®

Working with a real estate agent is an excellent decision for your home-buying or selling journey! Having a professional who is familiar with and understands the market will make the process much easier and less stressful. Before choosing which London, Ontario REALTOR® is right, here are a few things buyers and sellers should ask.

References

Just like with a job, requesting references from a REALTOR® can help determine a few things. A real estate agent with glowing references means other buyers and sellers were pleased with the services they received and may provide an idea of where the agent’s specialty lies. Perhaps they are excellent with condo purchases and sales or do well with luxury properties. Finding a REALTOR® that matches the kind of property being purchased or sold is a bonus. While references from friends and families are acceptable, it’s also a good idea to research references from strangers to remove any biases that may arise from a genuine referral.

Information on the Market

Real estate agents can provide a market analysis for the neighbourhood in which the home is being sold or purchased. This report will provide insight before going too deep into the process to confirm that all steps are accurate to ensure a profitable purchase or sale. Expanding on that, the London, REALTOR® will also be able to inform potential buyers about the neighbourhood and its demographics and amenities. They will be able to comment on schools in the area, how many homes are already on the market, if there are any future development plans, or if the neighbourhood is in decline.

How Busy is the London REALTOR®

It is too much to expect a real estate agent to have only one client at a time, but it’s not too much to expect them to give the appropriate amount of attention to every single one of their clients. Asking a potential REALTOR® how busy they are or how many clients they have will indicate their ability to devote themselves to their client’s needs so no one will fall through the cracks. On the other hand, if a real estate agent doesn’t have any clients, it’s worth exploring why. Is it because they’re new to the industry and haven’t built up their clientele? If they are new, they may not have the experience you are looking for or the industry contacts that could benefit a client.

What is Their Marketing Process?

Asking a real estate agent how they’ll market a property is essential. Ask them what in their process sets them apart from other real estate agents. Ask what they might suggest for individual clients based on the property in question and the area it’s being sold in (as well as the ideal selling price). If their only marketing strategy is placing a few ads on social media, that might not return the results clients want.

Fee Explanation

Clients should be aware of what to expect before signing with a London REALTOR®. Commissions come in three types: percentage, flat fee, or a combination. Typically the price structure will be the same from agent to agent, but some may structure them differently. Some fees may cover various filings, while some agents may have that for an added cost. While it may be possible to negotiate on a commission, clients should expect a typical percentage between five and seven percent.

There are some tough questions to ask when researching the right person for the job, and the answers often determine the difference between buying, not buying, or selling or not selling with that particular agent. Asking plenty of questions will ensure you have enough information to help you make an informed decision on which London, Ontario REALTOR® will work best for you and get you the desired results.