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Discussion Starter #1
I am meeting an RE agent this evening, she wanted to discuss how she can help me in the buying process.

I never worked with an RE agent before, in my long winding road of planning to buy a house, I've only been looking at open houses to get a feel of the market.
Any suggestion on what I should ask this RE agent to know whether she would be good for me?

Thanks!
 

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Ask her to supply you with printouts of recently closed/sold MLS listings of your target property/area/type. These will give you an idea of what properties in your target are going for. Hopefully you can narrow it down and be as specific as possible, right down to the building and street/neighborhood.

Also, find some properties of interest on MLS and supply her with the #s and ask her for detailed printouts that show you the property taxes, condo fees and other details not normally visible on a standard MLS page.

Always remember the RE agent has one primary goal: to sell to you. All of their actions are driven by that goal.
 

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Discussion Starter #3
Ask her to supply you with printouts of recently closed/sold MLS listings of your target property/area/type. These will give you an idea of what properties in your target are going for. Hopefully you can narrow it down and be as specific as possible, right down to the building and street/neighborhood.

Also, find some properties of interest on MLS and supply her with the #s and ask her for detailed printouts that show you the property taxes, condo fees and other details not normally visible on a standard MLS page.

Always remember the RE agent has one primary goal: to sell to you. All of their actions are driven by that goal.
thanks royal-mail ... I havent narrowed down to specific location - I am open to different areas across Toronto (I've picked like 3-4 different areas that I dont mind buying a house in)

I am not looking for something specific about any property - what I want to know from this feeling is how good this RE agent is. I know their job is to make a sell, but I would like to believe that there are some RE agent that actually do good for their buyer clients - so I need some questions to ask about her as a RE agent as opposed to about properties.

(I do research before doing anything, that include research on the people I am dealing with)

On that note though - RE agent gets paid by the seller - why would they even help the buyer? (ie. wouldnt they want the buyer to pay as high as possible so they get as much comission as possible - which mean they are screwing the client they work for?)
 

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It is my pleasure to help you as others have helped me!

How did you find this agent? I personally go on recommendations but I'm not too worried. If you want to buy, all of them are happy to sell. :)

On your last question, remember that when the seller sells to you, 2.5% goes to the seller's agent and 2.5% goes to your agent. This is paid from the seller's pocket, out of their final sale price. So it's definitely in your agent's interest to make sure you buy a house. Your willingness to buy a house translates to 2.5% in their pocket. When they look at you, they see a huge red 2.5% in front of your person $$$.
 

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Discussion Starter #5
It is my pleasure to help you as others have helped me!

How did you find this agent? I personally go on recommendations but I'm not too worried. If you want to buy, all of them are happy to sell. :)
Just happen to meet in one of the open houses I went to

On your last question, remember that when the seller sells to you, 2.5% goes to the seller's agent and 2.5% goes to your agent. This is paid from the seller's pocket, out of their final sale price. So it's definitely in your agent's interest to make sure you buy a house. Your willingness to buy a house translates to 2.5% in their pocket. When they look at you, they see a huge red 2.5% in front of your person $$$.
Exactly my point - why would a RE agent help the buyer to get the best deal possible? or is the answer a flat NO, they dont help the buyer?
 

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Just happen to meet in one of the open houses I went to



Exactly my point - why would a RE agent help the buyer to get the best deal possible? or is the answer a flat NO, they dont help the buyer?
They are ethically required to represent either the buyer or seller. You are "hiring" a buyer's agent so they are working FOR YOU not the seller in this case which means they will try to get you the best price and show you homes you are interested in.

She should have all the questions for you like "What area?" Price range? Features you want etc etc so she can find you properties.

Houses are available to the RE agents up to a week before they appear on MLS so it can be advantages to have an agent actively searching for homes you may be interested in.
 

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I would ask how many houses they have bought/sold. How long they have been a full RE agent. How many deals in the past year.

This might help weed out a part-timer who sells 1 house per year or super-agent who sells 52 houses per year and won't have time for you.

I met my agent at an open house on my street. She seemed pretty good but I was more impressed with the selling prices/auction that she did for that house plus one other. I guess I should have talked to the owners of those houses but I didn't.

I knew my house was similar to those two so I figured she would be a good bet since she had just done it twice. I was quite happy with her services.

Maybe ask for references?
 

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May I make one correction to the notion that it is the seller that pays the realtors. The only party that is handing over money in the transaction is the buyer, therefore, it's the buyers money that pays for the realtors. In fact, their commission is deducted before the vendor receives any remaining cash from the deal.

That's why a sale by owner is usually discounted because the buyer is not expected to pay for realtors.
 

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Recently Sold Prices

Just a quick question. I am moving to Ontario and was recommended a real estate agent to help find a place near Toronto. I had asked if it was possible to have a listing of recently sold properties to get an idea of houses are selling for, but she said that privacy law does not allow her to share that information. Now, is this true because it strikes me a strange as when I sold my house it was based to an appraisal based on the prices properties around my area were sold.

Thanks.
 

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Just a quick question. I am moving to Ontario and was recommended a real estate agent to help find a place near Toronto. I had asked if it was possible to have a listing of recently sold properties to get an idea of houses are selling for, but she said that privacy law does not allow her to share that information. Now, is this true because it strikes me a strange as when I sold my house it was based to an appraisal based on the prices properties around my area were sold.

Thanks.

Call another agent and ask. Personally (and unless something has changed that I don't know about) I think that's BS and your agent doesn't understand. What privacy? You are listing something for sale on the public market. As a potential buyer, you NEED to know what houses previously sold for.

IMO, if this agent doesn't understand that, find another agent. What else doesn't this one know? Does she also drive around with her license plate blurred out? C'mon.
 

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The agent should be able to provide that info easily.

But keep in mind they will provode info on similar properties more on the high end of the sales. They won't go out of their way to reveal someof the similarly listed lower sales in your requested area.
 
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