The Canadian real estate market has been facing sluggish growth and reduced demand in the past year amid rising interest rates and anti-speculation policies. According to the Canadian Real Estate Association (CREA), the national average home price declined by 4.8% year-over-year in March 2024, falling to $670,389. The number of home sales also decreased by 1.1% compared to the same month last year, marking the lowest level since 2017.
With such a hot and competitive market, many buyers and sellers may wonder if they need the help of a real estate agent to navigate the complex and fast-paced process of buying or selling a home. The answer is yes, but not just any agent. You need a professional who has the experience, knowledge, skills, and network to help you achieve your real estate goals in the current market conditions.
A real estate agent is a licensed professional who represents buyers or sellers in real estate transactions. They have access to the Multiple Listing Service (MLS), which is the most comprehensive and up-to-date database of properties for sale in Canada. They can also provide you with valuable market insights, such as the latest trends, statistics, and comparables, to help you make informed decisions.
How to choose the right real estate agent for you?
Not all real estate agents are the same. Some may have more experience, expertise, or reputation than others. Some may specialize in certain types of properties, areas, or clients. Some may have more connections, resources, or availability than others. Therefore, it is important to do your research and interview potential candidates before hiring one. Here are some tips for choosing the right real estate agent for you:
Ask for referrals: One of the best ways to find a good real estate agent is to ask for referrals from your family, friends, colleagues, or neighbours who have recently bought or sold a home in your area. They can share their experiences, opinions, and recommendations with you and help you narrow down your options.
Check their credentials: Another way to find a good real estate agent is to check their credentials, such as their license, education, training, awards, and designations. You can also check their online presence, such as their website, social media, reviews, testimonials, and ratings, to get a sense of their professionalism, personality, and performance.
Interview them: Once you have a shortlist of potential candidates, you should interview them to see if they are a good fit for you.
You can ask them questions such as:
- How long have you been a real estate agent?
- How many clients do you currently have?
- How many homes have you sold or bought in the past year?
- What is your average list-to-sale price ratio?
- What is your marketing plan for my home?
- How do you communicate with your clients?
- What are your fees and commissions?
- Can you provide me with references from your previous clients?
Compare and contrast: After interviewing several candidates, you should compare and contrast their qualifications, services, and proposals and see who stands out the most. You should also trust your intuition and choose someone who you feel comfortable and confident with and who understands your needs and expectations.
Hiring a real estate agent can be a smart and beneficial decision for anyone who wants to buy or sell a home in Canada’s current market. However, you need to find the right one for you because not all agents can deliver you the same results. By following the tips above, you can find a professional who can help you achieve your real estate goals and make the process easier and more enjoyable for you.
