How to choose a new home and condo real estate agent

By Debbie Cosic
August 17, 2021

Whether you are a first-time homebuyer or a seasoned owner, your next home or condominium purchase may well be one of the single largest financial or lifestyle investments of your life. If you are purchasing pre-construction, choosing a real estate agent to work with is especially important.

The scenario is quite different from resale, where the home is already complete, and possession can take place quickly. With pre-sale, unless you buy an inventory home or suite, you will have months, if not years, to move in. You may purchase from floorplans in order to get in early during the selling process, and find the best prices and plans.

Reputation is everything

One of the best things you can do is ask friends, family members and colleagues for referrals. For an agent, reputation is everything, and who better to speak with than people you know and trust? You want to zero in on an agent who is experienced in matching clients with similar needs. For example, maybe you already have an agent for a cottage you purchased. It is unlikely that person will know the downtown Toronto market, so it would be wise to find someone who does. Many homeowners have more than one agent, depending on their residential needs. I have an agent for my cottage, one for my Florida property, and if I wasn’t an agent myself, I’d have one for my Toronto residence.

Some agents are specialists in specific areas of the Greater Toronto Area. A real estate professional selling in established Forest Hill might not be conversant with up-and-coming neighbourhoods such as Leslieville or West Don Lands.

You will also find that agents have a wide range of career experience. On one hand, someone who has been in the business for decades will have a lot of knowledge to draw from. There are a lot of “superstar” agents out there. Newer agents keen to build a portfolio may work really hard to match clients with their ideal choices. If you find someone who is honest and hard working but short on experience, that may be the best way to go.

Individual needs

The main thing is to find someone you connect with. How do you do that? Interview potential agents the way you interview anyone else you might hire. When you purchase a property, you establish a relationship with the agent, whose job it is to help you find the right home or condo for your individual needs.

If you are looking to add to or diversify your financial portfolio, ask what experience the agent has in finding residences that are likely to bring a substantial ROI. Remember that buying pre-construction is different from resale – and purchasing lowrise is not the same as condominium. If you choose to go condo, be sure your agent is well versed in Ontario Condominium Law and can explain exactly what you are buying. In addition, you want to be sure the agent you are considering has access to the condo buildings that interest you. Access comes from success.

When considering buying pre-construction, always try and get on the Builders Registration or Friends and Family preferred lists. This will give you access before most people. However, if that isn’t possible, building a relationship and gaining access through a VIP agent is a great alternative.

Visit agent websites and seek out word of mouth. Find someone you trust and have confidence in. Then enjoy the purchase.

About Debbie Cosic

Debbie Cosic, CEO and founder of In2ition Realty, has worked in all facets of the real estate industry for over 25 years. She has sold and overseen the sales of more than $15 billion worth of real estate. With Debbie at its helm, In2ition has become one of the fastest-growing and most innovative new home and condo sales companies. In2ition has received numerous awards from the Building Industry & Land Development and the National Association of Home Builders.

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