We certainly have lots and lots of real estate agents in the GTA to interview. The last membership count exceeded 38,000 agents. Unfortunately a major percentage of these agents have been attracted to the business because they have either lost their “real” job or they think real estate is easy money! Don’t be taken in with a “neat” presentation package presented by an agent. Would it surprize you to know that of the 38,000 agents in the GTA, 11,000 sell one or less homes a year?? Another 17,000 of these 38,000 agents in the GTA sell three or less homes a year!! I would suggest that you keep this in mind when you are relying upon an agent to handle your biggest investment decision. Ask the hard questions!! How long have you been in the real estate business? How many Sellers have you worked with and sold their home? How many Buyers have you worked with and sold them homes? If i hire you, specifically what are your commitments to me? How will you support me with my real estate requirements? What is it going to cost me? Tell me a about your Brokerage …. is it a major company with branches inside and outside the GTA for maximum exposure? Where can i read your testimonials from your previous client experiences? I covered this subject previously in my post “THE AGENT FRIEND OR RELATIVE.” So what i am really saying is “interview the agent …. the person!” It is not just about the fact that you are placing your largest investment with this person. You are also signing a binding contract with this person! Is this the agent with whom you are most confident that they will do their job. What happens if they do not?
FYI on a personal note, i have successfully negotiated over 467 real estate transactions in my career. Also i have been involved in another 200 transactions in the GTA over the past decade which did not come to fruition as i could not, in good conscience, let my clients over pay for a property in a bidding war!
I agree, when looking to buy a house you should be looking for both a real estate agent you like as well as the house you like!
LOL both of which can be challenging sometime!
Should you use the agent who sold you the house when you sell your house? Or are you expected to do a search? I’m a first time homebuyer here.
You have some interesting questions!!
The GTA has over 38,000 registered real estate agents! Everybody knows somebody who knows a friend, who knows a neighbour, who knows relative, who has an “X” with a successful team in real estate!! LOL 
Being the kind of professional (person) that i am …. if your agent worked hard for you, protected your best interests, secured a good home for your investment dollars, most definitely you should maintain that relationship with them when the time comes to sell your home!!!! Needless to say if not …. search …. ask a friend! LOL 
This is usually the last thing people consider when it comes to buying a home. It is very easy to forget that your checklist must include, “Like my realtor,” or else the home buying process could really be a horrible disaster.
I totally agree that interviewing agents in person provides a more realistic and comprehensive evaluation of what the agent can offer you. Thus, I also highly advise conducting a personal interview of the agent before engaging his or her services. Most of the time, the interview will give you a feeling on whether you can or cannot trust a particular agent.
Is it really a terrible mistake to pick a new agent? I’ve talked to a few who seem very enthusiastic and who have brokers who are training them and looking over their should watching for mistakes. Just wondering if I should give a new agent some business.
I never suggested that picking a “new agent” was a mistake.
Yes they are enthusiastic and in many cases they are being adequately trained by their Brokers.
If you had a choice of a top notch accountant, the best dentist, an accredited doctor etc. etc. etc. for the same price as a novice …. which would you “pick?”
Buying real estate is most likely the largest investment in your portfolio!!
Especially when you are dealing in a major cities real estate market that is constantly in flux …. who would you be more comfortable with handling your biggest investment!
Just saying….
My husband and I are considering buying a home because we are tired of “throwing our money away” on rent. I have to say that finding the right real estate agent is definitely the top of our to-do list…but we are at a complete loss as to how to do it!
I started by asking for referrals from friends and family who have recently purchased a home, but every person I asked gave us the name of a different agent.
How in the world do you go about narrowing the search to find the “right” agent for you?
This is an integral part of the home search process!!
I have covered this in several posts and comments.
You would be advised to search out a full time, professionial agent. These agents will have a website with credentials and TESTIMONIALS that you can consider.
There is a link to my website in the HELPFUL RESOURCES section of Realty Drama …. you can also check me out!
William
I’d like to expand upon what you said about asking about their brokerage. When we first met our agent, he was brand spanking new to real estate. (So were we…smile) But he was with a brokerage with a strong reputation. Knowing that they were there in the background to support all of us, definitely played a part in our decision to go with him, I think others should take this into consideration as well.
You are 100% accurate in your assesment!
My experience has been that so many Buyers fail to ascertain the qualifications and effectiveness of their agent before signing a BRA contract.
This contract may bind the Buyers to the agent for “sometimes” months at a time. If that agent is not a full time, professional agent problems often arise!
FYI there are 38,000 agents registered in the GTA.
11,000 of those agents only negotiate “”"1″”" or less deals a year. 17,000 negotiate “”"3″”" or less deals a year!
Do the math …. you “”"pay”"” the same to those agents as you do to for the top, professional, full time agents!
Just saying …. do your homework before signing a BRA!
What if you only like the realtor but not the house? Or vice-versa?
As a Buyer, you should have an agent working “on your behalf” representing “your best interests” finding and negotiating professionally on your anticipated home / condo purchase.
The Seller also has an agent working on their behalf representing “their best interests!”
In a perfect world, both parties to the transaction are being competently represented by their respective agents.
SO “liking” your respective realtors is something that you would most likely have already ascertained when you decided to work with them, prior to finding a house / condo to consider buying.
Having said all that, liking the house / condo that you are considering would also be a good idea!
However you must do your “due diligence” to be sure that the location, price, structural integrity, area influences, present value and resale value will satisfy your best interests.
Many Buyers have bought a house / condo that they “liked” but without proper representation by their agents, have regreted the decision afterwards much to their chagrin!!
My husband and I didn’t care for our last real estate agent (I’m being nice here). When we move here in a couple of years, I will spend a lot more time interviewing and making sure we have a good fit for our new realtor. It really does make a difference.
Great post, excellent questions to ask when one is shopping for an agent. If selling your home, you don’t just want someone who will list your home and not give you a report of the progress. You also want a good marketer. Make sure you know their history and sales record.
Haha, “omgomgomg” and williamtaylor are both right, sometimes you make the pick of your life, sometimes you fail hardly picking both.
This post is extremely helpful! I definitely think that it is important to truly research an agent! It’s important to know how many homes they’re selling, etc. My friend is currently looking to buy a house and she’s having difficulties finding an agent that she trusts. It can be a difficult process, but once you find a great agent, everything else is smooth-sailing.
As your friend is making her biggest investment, trusting her agent is critical, especially to a novice Buyer.
If your friend is searching for a home – condo in the GTA, she might consider me to assist her, beyond my BLOG there are testimonials on my website where she could contact me.
Great article. Interviewing your agent is a must. You want a real estate agent that represents solely you. Make sure that the agent can stand firm on your wants and needs as both a home buyer and a seller. If you don’t know where to start, you can always ask around or check for reviews online. Perhaps a friend can recommend a real estate agent they have used. You can even find an agent that specializes in the area you are moving to or the area you are selling by Googling them.
Ask for testimonials and if things don’t work out with your first few choices, don’t sign that Buyer Representation Agreement until you are ready!
This is a great checklist. It is very helpful as I was not sure what kinds of questions would be appropriate to ask.
I definitely would want to know, for instance, how many sellers/buyers the real estate agent has worked with and has successfully negotiated the sale/purchase. This gives me a very clear view both of what to ask and to expect.
I’m still a bit wary about purchasing a property, but these are valuable tips for the next time I seek out a rental property.