Real Estate Nightmares AKA When Agents Go Bad
In the Greater Toronto Area (GTA) and Ontario there are over 39K licensed real estate professional (sales representative, associate brokers and brokers). The Majority are part-time representatives. Others are seasoned professionals.
This nightmares comes via another colleague of mine. I keep names, brokerages and such confidential so that I am able to simple focus on the lesson for the home buyer or seller.
An agent that is known as “the agent of our neighbourhood” met with potential sellers in the Lawrence and Yonge area. It is a lovely enclave of high-end homes with close proximity to transit, shopping and great schools.
The family was looking to downsize and stay in the neighbourhood. They asked their agent if they should sell and then buy or what they should do. Their agent adamantly told them to “sell now the market is hot!” So they listed and sold quickly.
They began looking for suitable living space for their downsizing choice. Nothing could be found. There were no listings for small homes in the area.
The family ended up living with their relatives for an extended period of time and now have resorted to renting a home in the area. They have been homeless in excess of two years all due to the urgency of “ the realtor of the neighbourhood” to get get a sale and commission, verse helping serve this families needs.
It is important, when choosing an agent, to chose one that hears what your needs are and works to create a plan with you accordingly. The need to sell “in one day” only serves the realtor not the seller. Exercise caution, ask questions and know that just because they “are the realtor of the neighbourhood” does not make them the ideal sales representative for you. Ask yourself, “How does that add value to me in helping me sell my home?”
Feel free to share your nightmares with me. Send them to email@example.com