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10 Reasons why you should hire a buyer agent

Hiring a buyer agent is like having a tour guide at a museum. You are guaranteed to get a lot more out of the experience with a tour guide then without one, because they enhance the experience and make it more valuable. Buyer agents’ make the buying experience more valuable, because they provide “guidance and support” at every step of the process. Here are some of the ways they do so.

1. One of the benefits of hiring a buyer’s agent is that you the buyer won’t have to pay the agent at all, since agents’ get their commission from the listing brokerage. This means that you will receive their guidance and services, free of charge.

2. They will provide knowledge of the market and will help you determine which properties would be right for you and which ones would not. Agents’ conduct a comparative market analysis, looking at the cost of properties similar to those the buyer is interested in, to determine whether the prospective properties are priced correctly.

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The importance of setting the right listing price

One of the main reasons why sellers price a listing too high, is because they “want to avoid a short sale”. This means “they price too high when their home equity is low, in order to avoid selling short”. Sellers also price too high when realtors give them an “unrealistic estimate value,” in order to beat out other potential realtors who are competing for that listing, and to ensure it for themselves. The high listing price however eventually gets dropped as well, and the new lower price begins to resemble the price suggested initially, by the other realtors.

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What to be aware of in older homes?

1. Radon

Buyers need to test the levels of radon when purchasing an older home, because many “older homes were not built to prevent randon from entering it”. Radon is a “cancer causing radioactive gas that we cannot see, taste, or smell,” which is why it is necessary to test for it during the inspection.


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5 tips on How to Be a Landlord

5 tips to become a successful residential landlord

Building up your networth? Growing your investment portfolio? Want to be a landlord?

Being a successful residential landlord in Ontario is not easy. Here are 5 important tips to remember:

1.    Qualify your tenants! Get to know who is going to live in your investment. Do you want just about anyone to live in there? You want someone who can pay the rent on time, and is able to do so. So you can do this by asking for proof of income and getting a copy of their credit report. Everyone can get a copy of their own credit report on (Equifax or Transunion) for a nominal fee. Ask for references and then call the references that are provided. Call their employer, ask to speak to their direct manager (See if they are a good employee, are they always calling in sick, do they show up on time, etc.) Interview them, get an idea of how they live (Do they have pets, do they like to party, are they a student or young professional, etc.). Check them out on social media. Google them! If you have any concerns, you should always consult your real estate lawyer for legal advice.

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Interviewing a real estate representative

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Of all the houses that come onto the MLS, how many do you think actually sell?

There have been 15, 997 active listings in 2015, and only 7, 998 of them have sold, which means that only 49.9% of the listings in 2015 have sold. This means that some agents are more capable then others in selling homes. Given that there are so many agents out there, these are just some helpful questions that sellers/buyers should ask when interviewing an agent, which could potentially distinguish the more capable real estate representatives, from the less capable ones.

1. How long have you been a real estate agent for?

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