Choosing a Realtor - FAQs
Buying or selling, you want to be confident that you have an agent who will represent your best interests. Here are some questions I run into frequently.
Question: Many agents advertise that they specialize in a particular area. How important is it to choose an agent who specializes in my area?
Answer: Some agents work primarily in one geographic area as it makes their work easier. They can focus their advertising in a smaller area and it is easier for them to keep track of sales and listings in that area. People who live in the area may choose that agent simply because they see the name advertised all the time. This however is no guarantee that the agent is good or bad. I have seen excellent agents who work all over town, and I have seen agents with lesser skills who specialize in a certain area. It is the marketing skill of your agent, honed over years of experience, that really counts. A skilled agent will provide you all relevant market data (comparable sales and listings), establish value and asking price, market your property professionally, and negotiate the best possible sale price. My sales activity covers both the eastside and the westside of Vancouver, and includes houses, townhouses, and apartments. I have clients moving between neighbourhoods all over Vancouver and in order to help them, I need a broad knowledge of all areas and properties, and price variations from one neighbourhood to another. If I were limited to one area, I would not be able to provide the full service that my clients have come to expect and appreciate over the years.
Question: Many homes in my area sell to Asian buyers. Is there an advantage to me if I list my home with an Asian agent?
Answer: Vancouver is made up of many communities with a broad range of ethnicities. You might think you would benefit if an agent speaks a certain language or appears to have access to buyers within a group, but it is important to understand the agency relationship and the selling process before you make any decisions. When you hire an agent to represent you in the sale of your home, your agent's job is to represent your best interests and get you the best possible sale price. Your agent will market your home and make it available to all buyers and all other agents, including those who are involved with the local community and local buyers. These Buyer's Agents, who will be representing their buyer's best interests and not yours, can bring forward an offer which your agent will present to you. There is no advantage, such as a higher sale price, in choosing your agent based on these language or buyer concerns.
Question: Is there an advantage to me if I list my home with an agent who has a large number of listings?
Answer: Not necessarily. Some agents focus more energy on getting new listings and less on selling these listings. People may be impressed by an agent with a large number of listings, that agent may get more listings as a result, and the agent hopes some will sell. Many of the listings may have been unsold on the market for months, but create an impression of activity. The problem is that it is physically impossible to do a competent job in this situation without a large support staff. You may prefer dealing with the agent you thought you hired rather than an assistant. Other agents may have a lower profile because they price their listings accurately, market them aggressively, and sell them promptly for top dollar, so they do not have a large inventory of listings at any one time.
A large sales volume may be important to some agents, but your only concern should be how well you have done with the sale of your home. The best way to know if an agent will be right for you is to assess the satisfaction level of past clients. Did the agent do a good job for them? Was their property marketed effectively? Did they get the best possible price? Was the agent easy to get along with? If past clients were happy, chances are you will be too.
