subject: Following Protocol with Your Toronto Real Estate Agent by:Robert Kennedy [print this page] Many people looking to buy or sell a house have no idea that there is protocol to be followed when dealing with their Toronto real estate agent. Here are a few things to understand about dealing with an agent.
First, you need to know that most agents are on a commission and only a very small percentage is salaried. If they do not close the deal, they do not get paid. Clients need to be on time for appointments. Common courtesy is a requirement when dealing with an agent. Many people seem to think that the agent can just drop all that he is doing to go show them a house, but agents are like the rest of us in the 21st century; very busy. Forgetting to show up for an appointment with your agent is considered taboo and you must always let him know if you are running late.
One of the things you need to do from the get go is to choose whether you want to work with listing agents directly or if you will need to hire a Toronto real estate agent of your own. To hire an agent, you will be required to carry out an interview in order to find one with whom you are comfortable. One of the worst things that you can do is to interview two agents from the same company; this is poor protocol. If you are a buyer, you do not need to hire a listing agent as they work for the seller. If the agent you engage is a listing agent and you want to buy a property, the agent will be working under dual agency, meaning they represent both the buyer and seller. Should a listing agent show you property, he will be expecting to represent you in the sale.
Going to open houses has its own protocol as well. You need to ask your agent what the protocol in Toronto and the GTA is so that you do not break it. In some places it is proper to go alone but in others you must be escorted. One of the things you should do when you get to the open house is to give the host agent your agents business card. If the person is looking for buyers without representation you will not have to contend with his sales pitch. Open house protocol also demands that your agent be the one to ask the host agent about the sellers motivation and background, so refrain from asking these questions.
Your Toronto real estate agent is required to give you an agency disclosure if you are looking to buy a property. This is just a disclosure and not an agreement. However, be sure to read it carefully. The agency type that is practiced the most is single agency. It means that you have your own agent who represents you in all aspects and owes you fiduciary responsibility. Following proper protocol will make the process of buying or selling a property easier and more pleasant.
About the author
MyCityToronto is Toronto's premier source of Real Estate information. Whether you are buying, selling or leasing, you will find the best professionals to represent your interests by visiting http://www.realestate.mycitytoronto.com.
welcome to Insurances.net (https://www.insurances.net)
