# How to hire a professional Real estate agent?



## ohsmarketing (Mar 24, 2015)

Hi Peeps,
Greetings of the day,
What are the qualities must have in a real estate agent? Or if you are looking for a real estate agent in your area then how you will check that it will save your time, money and energy to complete your property deal?
Please share some of your experiences!
Have a great day 

-Robs


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## realestateongabriola (Mar 24, 2015)

Just make sure the person you hire is experienced with the type of investments you are looking for. Typically a resi agent is great at selling a sfh and talking about how nice the carpets are but they can't analyze a deal and screen them for you. If you want to buy multis find out who sells the multis in your area. If you want to flip properties, find one that works with flippers and can ballpark a renovation project before bringing you to see the property so you aren't wasting your time. There are plenty of agents out there that want a buyer to work with just be careful they don't oversell themselves.


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## Just a Guy (Mar 27, 2012)

The best real estate agent I've had is a buddy of mine, who doesn't want to be a real estate agent. 

The rest of them have been fairly good at helping, until you find something you like or are interested in...

At that point, they want to get paid, so they tend to do everything they can to get you to buy the place, so they can't get their commissions. It is not in their best interest for you to get the best deal, it is in their best interest for you to buy a place so they get paid. Some have even turned on me in the past and put a lot of pressure on me to sign...

My buddy, however, he wants to do something else, and doesn't really need the money...plus, I've taught him all about investment properties which, as was pointed out above, is a different field. He doesn't sell investments to anyone else, since we don't find many, and I've helped him buy his own properties.

I have other investors where they identified properties and later found out their own realtor bought the place out from under them because it was such a good deal.


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## indexxx (Oct 31, 2011)

Honesty; a genuine person who is open and above board with every correspondence. Someone who is simply all about money isn't going to work for me. It's about integrity- these are people's homes.


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## Ag Driver (Dec 13, 2012)

As a buyer;

-Has you as their best interest (honesty, integrity, etc)
-Knows the area well
-Knows their prices well
-Can negotiate like a pitbull
-Will show you everything they are not supposed to
-Keeps you updated on listings that have yet to hit MLS
-Found via a good recommendation

Everything else is not a requirement of a good agent.


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## CalgaryPotato (Mar 7, 2015)

IMO, if you are paying full price for a realtor in 2015, you had better be getting FULL service. If you're selling they should be able to come in and give you detailed advice on exactly what to do to maximize the selling potential. They should have an aggressive plan on how to market your house and have a strong detailed reasoning on why they think you should sell your house for whatever price they give you. 

In this day of do it yourself selling, 2% flat rate, etc. someone had better be willing to show that they are willing to put in the work that they are getting paid $15,000+ for!


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## Mechanic (Oct 29, 2013)

Realty fees are generally too high. I just had one quote me 6+3% and another 3.5% on a property. meanwhile I have 2 other properties listed at 2%.


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## amitdi (May 31, 2012)

This is what I did to picky my agent. I am looking for houses right now. 

First of all, I had my friends/relatives recommend their agents. Not all of them really said, they would recommend their agent. But 2 did. I had a 30m meeting with each of them, before we began discussion I made clear to them that I will also be talking to one other agent. These are the things I discussed (it may look like interview questions, but it was more like a discussion) - 

* Full time?
* How Long Have You Been in the Business? What % of that is working with the buyer?
* How many homes will I likely see before I find a home I want to buy?
* How do you filter the homes when the criteria cannot be put into the MLS site?
* How do you handle multiple offers?
* Do you present offers yourself?
* Do you have references that I can contact?
* How many clients do you have at a time & what is your typical response time? Do you have a staff?
* In the unfortunate case that our relationship does not work out, how should we handle the situation?
* What havent I asked that I need to know?


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## CharlesF.Donahue (Jan 7, 2015)

Real estate agents should know all rules and regulation related to property. They update their customers regarding all deals. Real estate is one of the best and advantageous investment for propertiers.


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## sags (May 15, 2010)

From the statistics I have read in the past, most home owners who intend to sell via FSBO end up eventually listing the property with an realtor.

Exposure to sellers was usually the key issue, but it often happens that buyers find it awkward to negotiate with sellers.

(An example.......if you think the kitchen is awful and want to deduct the cost of replacing it...........when the sellers may have recently renovated it)

For virtually every house we made an offer to purchase on, the negotiation through our agent started out as......."my clients are interested in your home and feel the asking price is fair, but they have some concerns on the cost of renovating the kitchen (or whatever the problems are) and would make an offer that would reflect that cost to them". The agent would then add........"they are looking at several similar properties and although they like this location the most, some of the other homes have been more recently updated".

From a buyer point of view, the concept is to point out all the flaws in the home, and all homes have lots of flaws.......and bargain the price down.

Today, the exposure issue can be somewhat remedied with the ability to advertise on the MLS listings, and in some markets the homes are easier to sell.

In those markets, the sellers hold all the cards, leaving buyers with no bargaining power.

I think though, that situation is confined to a relatively few cities.


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## sags (May 15, 2010)

With all due respect amitdi...........some of your "questions" are going to require written documentation "before" you sign with an agent.

For example.............."In the unfortunate case that our relationship does not work out, how should we handle the situation?"

The situation would be that once you sign the agent contract, you are expected and legally bound to live by the terms.


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## amitdi (May 31, 2012)

sags said:


> With all due respect amitdi...........some of your "questions" are going to require written documentation "before" you sign with an agent.
> 
> For example.............."In the unfortunate case that our relationship does not work out, how should we handle the situation?"
> 
> The situation would be that once you sign the agent contract, you are expected and legally bound to live by the terms.


Some of these questions, I knew the answers so I was not looking for an "answer" when I met him. In fact, I played dumb as if I didnt know anything. I am evaluating him through his answers, just to get a feel of whether I would like to work with him. Yes, he will have sugarcoated answers in their 1st meet, but thats ok. These were just the questions that were part of our discussion when I chose my agent.

But good point though.


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## Newby1983 (Apr 9, 2015)

If selling, hire a property appraiser who has no vested interest in your real estate transaction. There are many reasons why agents will overvalue or undervalue your property. The appraisal can also help you determine when to accept an offer. 

As for buying, I once used a friend of a friend...big mistake.


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## indexxx (Oct 31, 2011)

Depending where you are in BC, I might be able to recommend someone if you need one.


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## Sandra (May 14, 2015)

just find a real estate company and ask for the agent, it's the best way


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## Jenessa (Jun 22, 2015)

you're doing a right thing always go for an agent/agency if you have no clue anything about real estate! also i second with @charles! real estate agents knows everything and each and every bit related to property! always consult an agent before making any investment in property


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## RBull (Jan 20, 2013)

^spammers....


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## Homerhomer (Oct 18, 2010)

Very simple, educate yourself about the market and be in charge.
If you are buying you don't need the agent, just contact sellers or their agent yourself.
If you are selling get an agent who will listen and follow what you want them to do, make sure you do not pay full service fee. You only need selling agent to attract buying agents who sometimes don't want to deal with non represented seller.

The above may not apply to all situation (ei dealing with out of area property or specific segment of the market), but works well in most cases.


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## ohsmarketing (Mar 24, 2015)

It is a first step to hiring a realtor if you want to earn a good amount of profit by selling your house check the track record of selling and buying the house by a realtor.A realtor must be professional and hard working.


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## rl1983 (Jun 17, 2015)

ohsmarketing said:


> It is a first step to hiring a realtor if you want to earn a good amount of profit by selling your house check the track record of selling and buying the house by a realtor.A realtor must be professional and hard working.


You actually make MORE by selling yourself and not using a realtor. You do need a lawyer for the money to exchange hands.


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## uptoolate (Oct 9, 2011)

RBull said:


> ^spammers....


Crossed my mind.


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## Buccaneer (Jul 11, 2015)

rl1983 said:


> You actually make MORE by selling yourself and not using a realtor. You do need a lawyer for the money to exchange hands.


That is actually not true ... the following article is from realtor.com but the stats hold true for Canadian cities also ... you make MORE money selling through a REALTOR
http://www.realtor.com/advice/why-fsbo-sales-fail/


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## uptoolate (Oct 9, 2011)

Really?! An article on 'realtor.com' suggesting that selling one's own home is not a good idea! It must be true then.


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## rl1983 (Jun 17, 2015)

uptoolate said:


> Really?! An article on 'realtor.com' suggesting that selling one's own home is not a good idea! It must be true then.



Hahaha.


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## Buccaneer (Jul 11, 2015)

Do you make decisions based on hunches or real data? ... before you ridicule a response do your homework


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## Berubeland (Sep 6, 2009)

I once helped an owner sell his own 2+ million property. Thing is it had been listed multiple times and realtors did a shitty job. I was required to go to the property for showings anyways when the realtor was showing and he was so incompetent he couldn't answer simple questions about the property. 

I've seen realtors that are functionally illiterate and I wouldn't want them writing out the offer of purchase and sale. 

Just the other day, I was talking to a realtor who is selling new condos and telling me that a 580 square foot one bedroom is going to be big enough to have a second bedroom. 

There's a reason they came up with the new law about telling potential purchasers only about registered offers. 

Realtors are some of the most morally bankrupt people on the face of this planet. I have met about 4 in the last 20 years that I would continue to do business with. You can't trust a word they say for the most part. 

Frankly I can't wait until someone breaks up the MLS monopoly on data.


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## Buccaneer (Jul 11, 2015)

There are rules in place to govern Real Estate transactions and anyone that operates outside those rules should and are subject to sanctions or suspensions, but to say a entire industry is morally bankrupt is childish. Incompetence comes in many forms in many industries so do your homework when hiring a agent. Find a agent by referral not by a splash advert.


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## uptoolate (Oct 9, 2011)

Was Berubeland's comment hitting a little close to home Buccaneer. Unfortunately, I know of several individuals who have very bad experiences with real estate agents and although I wouldn't have used the term 'morally bankrupt' in a blanket way I would agree that there are enough bad apples out there to make me say that one has to be very concerned about the entire process. The model currently in place for buying/selling residential real estate is long past the need for serious overhaul and although real estate 'professionals' are fighting the process, reform will happen. As far as finding an agent by referral, most people are only involved in the process of buying/selling residential real estate very few times in their lives and have no idea of how many ways they are being taken.


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## Buccaneer (Jul 11, 2015)

Not at all, I think that Realtors that do not put their clients interest above their own should not be in the industry. In fact the faster they are removed the better for all involved. I will say that those are the exception and not the rule. Most people are not dishonest and the percentages would be similar to any other profession.

As to finding a agent by referral ... if you do not have friends that can refer a agent to you then check with a professional (banker, lawyer, doctor etc) that you trust and see who they would recommend.

Very sorry to hear of the poor experience


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## Berubeland (Sep 6, 2009)

I'm sorry I disagree with you. Real estate sales and the ease of getting the license attracts a certain type of person. In my position I'm often cleaning up after realtors and their lies and being the unfortunate person who has to be the bad news faerie for new owners, who have been completely misled. 

I cannot tell you how many times in my 20 year career a realtor has said to an owner you can get this $$$ rent. This is often a complete fabrication. 

Just last month a realtard, sold a 79 year old woman on a pension a house, then took a listing agreement for the basement apartment rental, then went to Paris for a month. Said senior citizen shouldn't even had bought a house and NEEDED the income from the basement apartment to eat. 6 months later the basement is still unrented and no one is taking the senior's calls or rents the apartment. A friend of this lady called me and I rented the place out. I'd say I'm surprised but this is exactly the type of sleazy behavior I've come to expect. 

Like I said I know about 4 good ones and I've met hundreds in my career. Most of them hardly even do their job and it's only the strength of the market, and rising prices that keep them alive. 

But probably the most annoying thing they ever do is tell everyone they are "professionals" They are not Dr's, Lawyers, or accountants. They took a correspondence course. They did not go to school for any period of time, they simply are not professionals. They are overpaid commissioned sales people. The real estate lawyers do the heavy lifting when it comes to transferring the property and making sure everything is order. 

The day of reckoning is coming, when real estates takes a dive, people who are underwater won't be able to pay for their hefty commissions.


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## uptoolate (Oct 9, 2011)

Again, what Berubeland is saying has the ring of truth. Buccaneer, I am glad that you agree that Real Estate agents should be held to a fiduciary standard and that the body overseeing them should have real teeth to get rid of bad actors. As far as dishonesty being the exception in this group and the level of professional behavior being similar to other groups, this is not my experience nor that of many whom I have spoken too. The bar is set incredibly low and oversight is minimal with very little in the way of punishment even for those who have been found to have clearly crossed the line. The model is changing, none to soon.


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## TorontoGQ (May 18, 2015)

*lol*



rl1983 said:


> Hahaha.



+1


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## indexxx (Oct 31, 2011)

Berubeland said:


> I'm sorry I disagree with you. Real estate sales and the ease of getting the license attracts a certain type of person. In my position I'm often cleaning up after realtors and their lies and being the unfortunate person who has to be the bad news faerie for new owners, who have been completely misled.
> 
> I cannot tell you how many times in my 20 year career a realtor has said to an owner you can get this $$$ rent. This is often a complete fabrication.
> 
> ...


Not that I disagree there are a high percentage of unscrupulous people (in any field), but this case is interesting. Surely there should be some onus on the 79-year old person to do a bit of her own homework by looking into rental prices and vacancy rates before buying a house at her age?

BTW my realtor is great..


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## Berubeland (Sep 6, 2009)

Why wouldn't the 79 year old have complete faith in the licensed professional who came well referred, sold her matrimonial home and helped her buy a smaller home in an "interesting" neighborhood? 

Do you know what current vacancy rates are? I'll bet you don't especially if you believe CMHC. Even if you did know what current rates are, can you drill down by neighborhood and type? Rental prices vary a lot across neighborhoods and seasons. In fact I don't even know and I'm doing a market survey on almost every property I am listing these days. (Lots of availability)


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## Valueinvestor (Dec 10, 2014)

The idea of a professional realtor shows just how gullible we are as a society. Literally anyone who can read/write and speak at a grade 7 level can become a realtor. Sounds professional to me. 

I know hairdressers, baristas, landscapers, grocery baggers and bartenders that are more professional than a salesperson/realtor.


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## GoldStone (Mar 6, 2011)

Professionalism or lack of it is a secondary issue if you ask me. 

The elephant in the room is the outrageous compensation model. 4%-5% commission for a routine, standardized transaction is a scam. Out of whack compensation creates a moral hazard that often leads to unprofessional behaviour.

The fact that our society continues to tolerate this scam is a scandal.


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## OnlyMyOpinion (Sep 1, 2013)

This may not make a difference to one's opinion but remember that the 5% is typically split in half by the realtors (buyer/seller), then the office gets a piece, so your realtor pockets about 2% or a bit less.


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## GoldStone (Mar 6, 2011)

5% was a sensible number 30-40 years ago when houses sold for 50K-100K. 5% is indefensible today when average house sells for 400K and beyond. It doesn't matter how the total figure is being sliced and diced. Two agents, two brokerages, multiple real estate associations... there are way too many pigs at the trough.


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## indexxx (Oct 31, 2011)

Valueinvestor said:


> I know ... bartenders that are more professional than a salesperson/realtor.


Why thank you!


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## Just a Guy (Mar 27, 2012)

I don't know why people are picking on realtors...there are very few people related to real estate that are trustworthy at all, not just realtors. 

I too don't tend to like realtors, they are salesmen motivated by making a sale, but they aren't any worse than most property managers I've met (also usually an unqualified position which anyone can at they are a "professional" or "expert") many of whom get kickbacks or outright steal from the landlords, bankers who give out ridiculous mortgages which people can't afford, building inspectors who, again anyone can become, who walk through the a house selling unsubstantiated "peace of mind", contractors who do repairs, lawyers who just shuffle paperwork and avoid warning their clients of issues...

The industry is FULL of bad apples as well as a few good ones. In my experience, it takes a while to find anyone trustworthy to work with in this business, it's not just the realtors. There are very low barriers to entry for many "professional" jobs, in some cases none at all, rarely any oversight, and fairly high returns. Of course it attracts less desirable people who are motivated by money.

There's probably a reason why, if you watch shows on scams, many of them revolve around real estate in some form. It's also a reason I tend to avoid REITs, I know how much money can/should be produced from owning and how much can be made to legally "disappear"...not to mention how easy it is for "professionals" to make it disappear in not so legal ways.

If you're looking for altruistic people not motivated by money, perhaps you could invest in social workers. Of course, they are constantly out of work, not for a lack of demand, but because there is always a lack of money.

P.S. Oh, I almost forgot to mention...we also can forget about the scummy real estate investors and landlords out there, there is nothing "good" about this industry in general, there are just a few good people.

There was a bank robber who was once asked why he robbed banks, his answer was "because that's where the money is". Well, banks are mostly electronic now and there is no money, so the crooks have moved elsewhere.


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## GoldStone (Mar 6, 2011)

Just a Guy said:


> I don't know why people are picking on realtors...


Maybe just maybe it has something to do with the dollar amounts???

500K transaction

Home inspector gets a fixed fee, typically under $500.

Lawyer gets a fixed fee, typically under $1500. Multiply by two because two lawyers are involved.

Realtors get $25,000.

One of these numbers is not like the others.


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## Just a Guy (Mar 27, 2012)

All at once, or death by a thousand cuts...either way you still bleed out in the end. Sure, some people only take a little chunk (lawyers, home inspectors), others take a large chunk (realtors, contractors), some take on an ongoing basis (property managers, bankers). All seem to feel entitled to what they take, despite any real service or expertise in most cases...the amount, or rate of bleeding doesn't make it right in my opinion.

They justify it as "the cost of doing business", or "just the way it's always been done". Why can't most people just offer reasonable service for a reasonable fee? $3000 to file a couple of pages of paper with the government isn't "reasonable", heck the hundreds of dollars to register a title change which the government charges isn't "reasonable". A typical property manager will take one month's rent. (1/12 of the year's gross income, plus 10% on the gross rents ongoing), the mortgage interest takes a large chunk, property taxes, maintenance, etc...everyone wants their slice of the pie.


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## GoldStone (Mar 6, 2011)

When it comes to unjustified unreasonable compensation, realtors are off the charts. You can't compare them to anyone else. They are on a different planet.


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## Just a Guy (Mar 27, 2012)

That doesn't all go into one guy's pocket. It's split between two, who both pay a broker, plus various licensing fees, plus photographers, printers, advertising, etc. they also don't tend to sell hundreds of houses every year, not a great life being on call 24/7 either...but I'm certainly not going to justify their fees. I'm just saying they are no worse than every other scammer with their hands out who are constantly grabbing for more in this industry.

Realtors are only the frontman for a whole bunch of people who hit them up for a chunk as well.


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## GoldStone (Mar 6, 2011)

Sure. When I say realtors, I mean the whole lot. The agents, the brokers, MLS, REAs, etc. It's one big scam.


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## OnlyMyOpinion (Sep 1, 2013)

I wouldn't call it 'one big scam'. Overpriced yes. But like uber challenging taxis, I suspect MLS et al will be challenged by evolving technology and either adapt to compete or join the dodo. I'm sure there are some very entrenched, vested interests though, looking out for the consumer's best interests & protection of course


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## 1980z28 (Mar 4, 2010)

FEE DUCK is where you can get even

I will sell my home soon


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## GoldStone (Mar 6, 2011)

OnlyMyOpinion said:


> I wouldn't call it 'one big scam'. Overpriced yes. But like uber challenging taxis, I suspect MLS et al will be challenged by evolving technology and either adapt to compete or join the dodo. I'm sure there are some very entrenched, vested interests though, looking out for the consumer's best interests & protection of course


Overpriced is a polite way to describe scam 

A bottle of snake oil for $100. Is it a scam or is it merely overpriced?

5% commissions - same idea.


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## Valueinvestor (Dec 10, 2014)

The difference between realtors and others involved in the industry is that realtors spend millions convincing the public each year they need to use a realtor and that they have their clients interests in mind when in reality they do not. 

I've never seen ads for home inspectors preying on the emotional side of making such a large purchase but then again that could be because there is less $ involved. 

When you buy a used car you go in knowing the salesperson is just looking to make a commission and couldn't care less if the car breaks down after you buy it. So why do people trust realtors thinking they have their best interests in mind?

I know lots of people who have sued their realtors for everything from improper contracts to cash kickbacks. If there were something wrong with the house do you really think a realtor is gonna offer any type of support whatsoever after they receive their commission? Sorry, no, the realtor took the cash and is in The Bahamas laughing all the way to the bank. 

I heard someone (a senior) say they like using the same realtor for every transaction because he sends flowers annually and considers him a close friend. Advertising is one thing buy preying on the emotions of a lonely senior is another. 

The MLS is the biggest scam in the industry and the monopoly needs to end.


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## Newby1983 (Apr 9, 2015)

True that realtors don't sell hundreds of homes in a year. However the concern is the amount of 1 transaction as pointed out is large enough to easily envoke unethical behaviour leaving the buyer/seller as the sucker. There isn't enough repeat business to be loyal to your client. Yes word of mouth is important but many sellers/buyers have no clue as to how real estate works and will refer their agent because they tweeze their eyebrows, drive a Lexus and give out calendars. 

You want to know how many unethical realtors exist just list your home with a Comfree or kijiji and your phone will ring off the hook with scummy agents (the stupid ones even email)...a practice which is supposedly not permitted by OREA.


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## Just a Guy (Mar 27, 2012)

You know, now that I think about it, I think the real reason most of you mainly attack realtors is you just don't deal with the rest of the people very often, or don't see the downside to some of the others like home inspectors. It's not often that a house falls down, so a home inspector probably looks like "good value" to most people who don't know better.

As for ethical behaviour, I know property managers who make realtors look like saints. Of course, most home owners have never even talked to a property manager. I don't know many that don't have a long list of formal complaints listed against them, let alone lawsuits...but their governing bodies rarely have many teeth or desire to do anything. Not to mention proving things is difficult (anyone can pass an audit for example as long as they have a receipt...doesn't matter if someone overcharged outrageously). 

With banks, most of the time you're just thrilled to get the money lent to you, I doubt most even read the contract you sign, let alone understand the implications of it. Heck, I once had two mortgage renewals given to me for two different properties by the same bank (but two different bankers) the rates were different by more than 1% (one knew who I was and gave me the full "discount", the other didn't). 1% over years is a lot of money, especially these days, good thing I knew what rates should be. Both initially claimed it was "their best rate". 

Yes, everyone deals with a realtor or two, and most are bad, their fees very high, but I assure you, the entire industry is full of bad people taking advantage of others.


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## Newby1983 (Apr 9, 2015)

You make some good points about inspectors, property managers and banks. Each have their own flaws but this is a thread about hiring a real estate agent. It sounds as though many people here are upset with 1) agents' conduct and 2) their value (in terms of $) and 3) the system that governs them and want to inform the OP about the flaws of each so they can make a more informed decision.


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## Berubeland (Sep 6, 2009)

Clearly I don't come back to CMF often enough. AS a property manager I think it's pretty fair to say that the rental transaction and the selling transaction are similar in scope of work and complexity certainly if done properly. But I do charge one month's rent plus HST as my fee and they get 5% of the cost of the house. I also have a guarantee that if the tenant I put in doesn't pay rent I will pay for the paralegal to evict them. 

Ongoing management is 5% of the monthly rent. 

Is it too much? I don't really think so. Property managers don't have to go to school but I did. I personally had over 20 year experience managing and maintaining different kinds of property, from rental residential, to commercial residential, to commercial strip malls. 

If you compared what we get paid as employees to other asset managers we don't actually get paid nearly as well as they do. They usually get a percentage of the value of the asset whereas we get a flat fee or a percentage of the income. Imagine a world where you paid your mutual fund adviser based on how much income you made. 

While certainly in Toronto owners are not cashflowing, my services cost them on a monthly basis less than their cell phone bill which is not bad for being the point of contact for the tenant, coordinating repairs if required and being available 24/7. Good management eliminates so many problems before they even start. On turnover my company really shines, we still have photos from the last rental and just post the place for rent, if repairs are required we can arrange to have contractors come in so as soon as the tenant moves, work is being done. Recently I turned over a unit to a new tenant in 3 days and this is quite common. Most owner don't have that kind of pull with contractors, tend to let the tenant move out and then start doing the work etc. 

Is it too expensive? I don't really think so, most of my clients now are investors and they buy up a condo or house thinking that they will make money on appreciation but they have no experience renting themselves or being landlords. The problem is that puts them at extremely high risk for predatory tenants and other problems related to inexperience. Managing trades and building relationships with them is key but a guy with one unit has no pull at all and will pay retail rather than wholesale prices or take a gamble on some guy from kijiji. If the owner wants I will use their trades, but most people don't have anyone. Once the owner has some experience, then sure it's obviously cheaper to not have a property manager. A few people hire me to find the tenant and then they self manage, other people keep me on for a year and then take over with the tenants I found them, one building owner hired me to consult and teach her how to do things and now she's on her own. 

I think I'm also rather unique in the property management world in that I don't mind sharing my experience and knowledge, people just call me and I help them out. My mom actually used to give me **** about my blog "Why would people hire you if you tell them exactly how to do everything?" and I told her "Just because someone read a book doesn't mean they have expertise. It takes a certain mindset to deal with tenants and most people don't want to deal with it" It can be very stressful and people are very demanding. Tenants make very unreasonable requests and landlords can also have some strange ideas. Most specifically landlording is one of the most legislated businesses ever, so there is a lot of ways the landlord can get themselves in trouble with the Landlord & Tenant Board. 

I actually have quite a few experienced landlords on my books that just don't want to deal with tenants period. They don't have the patience and for a couple hundred tax deductible $ they get some distance from their tenants. 

Most of the worst property managers I've heard complaints about are actually realtors and I've been called in to clean up their messes and evict tenants they put in too many times to count. Earlier this year, I had a triplex managed by a realtor. 2 apartments were empty and the other one was not paying. I'm not perfect but those places are rented now, and I took the other guy to court and he's paying now. The owner still complains it cost too much money and he's not making any cash flow, but I didn't build the place, I didn't put the roof on etc. 

Tenant selection is key and for those who don't have good judgement, it'll cost you a fortune.


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## Mechanic (Oct 29, 2013)

5% property management sounds great to me, then again I have personal experience where I paid 10% and got terrible service, several times !!! It's sales commissions that seem to be the issue. 5% sales commission may be ok if we are talking a $100-200,000 transaction. But, when we are dealing with a home sale that is worth $4, 5 or 600k and up it starts to get a little ridiculous. it doesn't cost any more to market those higher priced homes and usually the prices are more affected by location anyway. I made BMW payments for my last "financial advisor" for a while and I'm not doing it for the realtors. Last few deals I've been involved in I have negotiated rates of 2%, one was a little less. If $10-$12000 isn't enough for the work required to sell a $500-600,000 home I will do the job myself through one of the many flat-fee DIY options that are available. I have friends and relatives that have do the same. If the selected realtor says not interested, talk to another one, there are lot's of realtors out there. The other thing I have dealt with is where some realtors don't show their prospective buyers homes that pay a lesser commission, that's why it is imperative not to sign an exclusive purchase agreement with a realtor and if there isn't a sold sign on something you see to check yourself, even if your realtor says it's "pending" or "not available". It could just be that the seller has negotiated a lower commission and the realtor that is showing you homes does not want you to buy one that pays a lower commission.....think about that ?? That house is probably a better deal for you as a buyer because the seller doesn't have to pay a higher commission to the listing realtor. Happens fairly frequently !!


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## Ottawa Realtor (Aug 16, 2015)

ohsmarketing said:


> Hi Peeps,
> Greetings of the day,
> What are the qualities must have in a real estate agent? Or if you are looking for a real estate agent in your area then how you will check that it will save your time, money and energy to complete your property deal?
> Please share some of your experiences!
> ...


I spent the last half hour reading all the comments. Pretty funny (and sad at the same time) but typical. I'm a real estate agent so I guess they're going to rip me apart. All I gotta say is if it's such a money maker why aren't all of you taking the real estate courses? I have worked in real estate for about 12 years now but before that I was working in engineering fields and making a regular paycheque. I can tell you a regular paycheque is a lot safer than trying to make it in real estate. We're not all goons and criminals and it's a tough job that has no guarantee of a paycheque. We have to spend all the money up front with no guarantee of a payday. Try getting into a job that requires you to shell out $3000-$5000/month just to be in the business before you make one dollar. And to those people that ask for access to the MLS system and want to do without agents. Who do you think is paying for the MLS system? For all you critics that claim we get paid too much.....ITS COMPLETELY LEGAL TO SELL YOUR OWN HOME WITHOUT AN AGENT!


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## Melicoy (Nov 15, 2015)

I have been compiling a list over the years. Here it is !

*TOP things a BAD Realtor does. 
Reverse it and you have a good realtor. (commission is a BS system for realtors ask for MONEY BACK. My realtor gives me back 20% gross comm on purchase and 50% off when I sell my flips)

Look at current listings of your realtor...

Puts a date on picture
No Pictures <---- I REALLY HATE THAT !!! NO excuse 
No Description <---- I REALLY HATE THAT !!! NO excuses 
Never answers Calls
Gives office # for other realtors to call to inquire
Doesn't call back in under 1 hour (during the day)
Doesn't provide all the information needed for the buyer (i.e. PDS, Oil Tank Report, disclose key hurdles to buyer or seller)
Limited information giving to MLS Sheet
Wrong Information given to MLS sheet (manufactured home listed as home / condo)
Doesn't give you gift or kick back
Doesn't make sure you qualify for financing before looking.
Refer only 1 inspector or mortgage broker
Doesn't do due diligence for you including: DOM, previous listing of same house, comps, realtor comments, current rent in that area, bugs, 
Ask you to sign a 1 year contract to only use them
Does not do open houses
Never tells you about offers that come in because he thinks they are not wht you want
Not familiar about zoning, building, by laws, or how to get a house plan from the city
Gives you legal advise
Socially defunct: No Facebook, website, twitter, monthly news letter
And the Famous "You can do this without me"
Web search and can't find anything about them.
Google one of their listings and see what page it's on. SEO*


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## Melicoy (Nov 15, 2015)

Ottawa Realtor said:


> I spent the last half hour reading all the comments. Pretty funny (and sad at the same time) but typical. I'm a real estate agent so I guess they're going to rip me apart. All I gotta say is if it's such a money maker why aren't all of you taking the real estate courses? I have worked in real estate for about 12 years now but before that I was working in engineering fields and making a regular paycheque. I can tell you a regular paycheque is a lot safer than trying to make it in real estate. We're not all goons and criminals and it's a tough job that has no guarantee of a paycheque. We have to spend all the money up front with no guarantee of a payday. Try getting into a job that requires you to shell out $3000-$5000/month just to be in the business before you make one dollar. And to those people that ask for access to the MLS system and want to do without agents. Who do you think is paying for the MLS system? For all you critics that claim we get paid too much.....ITS COMPLETELY LEGAL TO SELL YOUR OWN HOME WITHOUT AN AGENT!



HI OTTAWA REALTOR.

I was thinking of getting my RL but one thing stopped me... Never seen a realtor sell or buy his own stuff. Usually gets another realtor in the office help him out.
Why is that?


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## Ottawa Realtor (Aug 16, 2015)

Melicoy said:


> HI OTTAWA REALTOR.
> 
> I was thinking of getting my RL but one thing stopped me... Never seen a realtor sell or buy his own stuff. Usually gets another realtor in the office help him out.
> Why is that?


I don't check CMF that often. Just when I have some time. I'm not sure why that would stop you from getting your license but Realtors like to list because that brings more business. Newer agents have a harder time and have to build their business so they will be more likely to drive buyers around. Once they have sold to enough buyers and have kept in touch with them they will get them back as listings but that takes time and you don't get everybody back. Well established agents will have enough business to hire other agents to show buyers around and even list if they want to grow. Some senior agents will simply live off their past clients and are happy with that especially if they are older and winding down.


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## Just a Guy (Mar 27, 2012)

I think you missed answering the question...

One of the reasons realtors do not usually act as representatives during a personal purchase is to avoid potential conflict of interest and ethical questions. While not generally observed by their actions, realtors are actually under pretty severe restrictions when it comes to ethics and conflict of interest rules. They can face some pretty hefty fines if found to be in violation. While generally not as easy to prove, a personal sale can be scrutinized easier than a nonpersonal sale, so many realtors probably just choose to avoid the situation.


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## Ottawa Realtor (Aug 16, 2015)

I wasn't sure if the question was about an agent being in a dual agency situation and representing both buyer and seller or if the question was about selling his own property or buying property himself.


Just a Guy said:


> I think you missed answering the question...
> 
> One of the reasons realtors do not usually act as representatives during a personal purchase is to avoid potential conflict of interest and ethical questions. While not generally observed by their actions, realtors are actually under pretty severe restrictions when it comes to ethics and conflict of interest rules. They can face some pretty hefty fines if found to be in violation. While generally not as easy to prove, a personal sale can be scrutinized easier than a nonpersonal sale, so many realtors probably just choose to avoid the situation.


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## Synergy (Mar 18, 2013)

Ottawa Realtor said:


> Try getting into a job that requires you to shell out $3000-$5000/month just to be in the business before you make one dollar


Welcome to self employment, starting a business, etc. Not any different than any other profession.

I wouldn't feel too bad. People have just as much to say about doctors, lawyers, mechanics, teachers, etc. 

I've seen my fair share of uselessness, fraud, incompetence, etc. in just about every major profession. That's sad.


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## Ottawa Realtor (Aug 16, 2015)

Synergy said:


> Welcome to self employment, starting a business, etc. Not any different than any other profession.
> 
> I wouldn't feel too bad. People have just as much to say about doctors, lawyers, mechanics, teachers, etc.
> 
> I've seen my fair share of uselessness, fraud, incompetence, etc. in just about every major profession. That's sad.


That's true. Part of the problem we have is that it is so competitive that rules are sometimes broken and since we are self policing we don't have a lot of time to fill out the forms and provide the evidence needed in a formal complaint. I recall seeing a local agent's card at a showing indicating over 1500 houses sold. The agent had been in the business only a year or so, so I don't think he was doing 5 deals a day. He was probably lucky to have sold 5. The guaranteed sale program is also a scam some agents use. Once you find out the details you would never agree to it but once you're in their office they will say Ok we'll just list it the normal way. It's a perfect example of a bait & switch. Now we have a lot of people coming out of high school or some post secondary school and can't find a job so they sign up for courses in Real Estate. I would say that 90% are ethical but the 10% give us a bad name. I took the courses in 1985 with my wife and it was simple to get into real estate. I didn't go into the business like my wife so I didn't get a license at the time. Later in 2002 I decided to join my wife and retook the courses and they were at least 4 times harder. In my opinion Real Estate should be made even harder so that it is closer to a degree. Also, it should be a lot more strict if rules are broken. A heavy fine for a first offense will straighten people out and depending on severity a loss of license for repeated offenses. Higher fees for agents and brokerages wouldn't be a bad idea and hire a few more lawyers to police people breaking the rules. I wouldn't be the first to admit there's a lot of room for improvement.


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## wolf (Feb 2, 2016)

My wife sold Real Estate for Remax for many years.
I myself do not like Salespeople. Don't take this personal it is just me.

However with that said. 
Look for the company you want to deal with. I would suggest Remax.
Why? because there fees are high to work there.
Than I would inquire who is the newest realtor in the office.
That is who I would use. You will get the hardest working Realtor in the office.
Don't forget they don't make any money til they sell.

There are Realtors who sell and there are Realtors who list and let others sell.
You get the best with the new kid on the block.

Just my way of seeing it!
Works for me every time regardless of what I am buying.


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## chriswright (Sep 29, 2015)

Hiring a real estate agent is only the easiest way to sell/buy any home. If you could buy/sell a home through the internet, or through the taking the help of advertising channels & marketers without a real estate agent, it looks more of time waste & being overwhelm process. The following ways for which you can hire a real estate agent as-

1. Check Past Experience-- Have to take a list of what they have listed & sold in the past years.
2. Look up the licensing
3. Pick a winner
4. Check the website-- Updates on the web blog link of the real estate agent, Find in Social Media 
5. Select an agent with the right credentials(Designation of the Agent)
6. Research how long the agent has been in business
7. Look at their current listings
8. Ask about other houses for sale nearby

Though taking all these ways that helps to hire a professional Real estate agent easily & reliable for you!!


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## Jaberwock (Aug 22, 2012)

As a seller, beware of the real estate agent who claims to be the top seller in the area.

When we were selling our house some years ago, we first called the guy who claimed that distinction, and he gave us a valuation of $180,000. We decided to get some other opinions and ended up listing for $265,000 and selling for $255,000.

The top seller in the area will be an agent who deliberately talks an owner into listing below par value, so that he can make a quick sale with very little effort.


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## markus_zhang (Apr 10, 2016)

Ottawa Realtor said:


> I don't check CMF that often. Just when I have some time. I'm not sure why that would stop you from getting your license but Realtors like to list because that brings more business. Newer agents have a harder time and have to build their business so they will be more likely to drive buyers around. Once they have sold to enough buyers and have kept in touch with them they will get them back as listings but that takes time and you don't get everybody back. Well established agents will have enough business to hire other agents to show buyers around and even list if they want to grow. Some senior agents will simply live off their past clients and are happy with that especially if they are older and winding down.


Hi Ottawa Realtor, does that mean there is sort of mentor-apprentice relationship between senior agents and junior ones? Thanks.


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## Ottawa Realtor (Aug 16, 2015)

It might be the case if they're part of a team but generally you're on your own.


markus_zhang said:


> Hi Ottawa Realtor, does that mean there is sort of mentor-apprentice relationship between senior agents and junior ones? Thanks.


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## markus_zhang (Apr 10, 2016)

Thanks.


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## Durise (May 16, 2016)

For hire a professional real estate agent, First of all, you need to check the experience of an agent. Only experienced agents can manage suitable places for you.


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