Your hard-earned money deserves respect. In real estate, ethics aren’t just nice-to-haves – they’re must-haves. You’ve worked tirelessly to save money and the last thing you want is to waste it on a bad realtor. Whether you’re buying, selling, or investing in real estate, having an experienced agent by your side is important. This is especially true in a country as large and diverse as Canada.
The year 2024 presents a unique and favorable opportunity for investment in the real estate sector in Canada with many improvements as compared to the previous year. Whether it is modern sleek pre-construction condos in Toronto or a quaint little cottage somewhere in Lake Simcoe, a professional is a must. But wait, there’s a problem – not every realtor is the same.
So, how do you spot the stars from the duds? What are the realtor red flags to watch out for? And what home-buying tips can help you in Canada’s unique market?
We’ll help you avoid bad real estate agents and pick the best agent for your 2024 house hunt. Ready to become a savvy real estate detective? Let’s get started!
1. The Silent Agent
Good communication is key in real estate. Your agent should be your partner, keeping you in the loop. But what if they go quiet? That’s a big red flag. A good agent will get back to you fast, usually within a day or two. They should give you clear updates about your home search or sale. And those tough talks about prices or property issues? A great agent doesn’t shy away from them.
Watch out for agents who:
- Take forever to return calls or emails
- Give vague updates
- Avoid tricky conversations
Remember, you’re paying them to help you. You deserve an agent who’s there when you need them.
2. The Pushy Salesperson
No one likes feeling pressured, especially when buying a home. If your agent always rushes you to decide, that’s not good. A good agent knows you need time to think. They should also respect your budget. If they keep showing you mansions when you ask for a modest home, that’s a problem.
Your worries about a house or neighborhood matter too. If your agent brushes them off, they’re not putting you first. After all, you’re the one who’ll be living there, not them!
3. The Newbie in Town
Your agent should know the area well. If they can’t tell you about local schools, shops, or rules, they might be new to the area. This matters a lot when you’re looking at specific markets like new condos in Toronto. They should know about local laws, building rules, and market trends.
A seasoned agent also knows other local pros. They should have contacts for home inspectors, contractors, and more. If they’re always stuck when you need a recommendation, that’s not great.
4. The Unprofessional Pro
Real estate is a business and your agent should act competent in their line of duty. It is unprofessional for them to engage in the disparagement of other agents or even clients. They do not have to wear a suit on all occasions but arriving for a client meeting in pajamas is inappropriate too.
Being on time matters too. If an agent is constantly late or appears not ready for the meeting this signifies that the agent does not value the client’s time. You want someone who takes your real estate goals as seriously as you do.
5. The Rule Bender
Rules and ethics aren’t just fancy words in real estate – they’re the backbone of good business. When choosing the best agent in 2024, this factor is huge. A great agent doesn’t just know the rules; they live by them. Bending these rules? That’s a big no-no. Let’s look at two key areas:
A. The Truth Stretcher
Honesty is crucial in real estate. If your agent makes every house sound perfect, they might be stretching the truth. Be careful if they’re not clear about costs, fees, or home values. A good agent will tell you the facts – good and bad – so you can decide wisely.
B. The Conflicted Agent
A trustworthy agent should be upfront about any connections they have. They shouldn’t just show you their own listings. And if they get perks for suggesting certain services? They should tell you that too.
Watch out for agents who:
- Only push their own listings
- Don’t tell you about ties to sellers or builders
- Represent both buyer and seller without telling you
- Suggest services without mentioning kickbacks
- Push you to skip important checks
- Pressure you to use their favorite service providers
These home-buying tips for Canada can help you spot realtor red flags. The real estate market, especially in big cities, can be tricky. But with the right agent – one who talks well respects your needs, knows their objectives and follows the rules – you’ll be ready to make your real estate dreams come true in 2024.
