Real estate is often glamorized as an industry where agents consistently go above and beyond the call of duty for their clients, and are always “on”. We’re the gatekeepers of information, and we understand that most professionals work 9-5, so we are available after hours for those clients. However, there are a set of unspoken etiquette rules that we would like to put out there.
When Working With An Agent It’s Important To Remember:
1 – Realtors work on 100% commission
With no salary, benefits, fall-backs, or unemployment insurance, realtors need to make sales, and they need repeat and referral business. They are very motivated to exceed your expectations, so you use them in the future and also refer your friends and family to them. But, it’s very unethical to use an agent with the intention of cutting them out the deal. However, sometimes after a few months of searching, you cannot find a home and decide to stay put, that’s fine. Just call them back up once you decide to move again.
2- Choose one agent and set your expectations
We encourage buyers and sellers to interview a couple of agents before committing to work with one. This is a good time to set your expectations, times of the week you are available for viewings, and how often you want market updates. If you try to work with more than one agent, no one will give you the service you need to become an educated buyer.
There’s a lot more to being a buyer’s agent than finding and showing homes. Buyer’s agents educate buyers on the sales process, the market, and the list price to sale price ratio. They also help navigate your expectations and negotiate your offer with the seller’s agent.
3- Call your agent if you have a question about a home
When you’re working with a buyer’s agent, you cannot call the listing agent for information on the home; even if it seems extraneous to have to call your realtor, to call the seller’s realtor. If you do call the listing agent directly, they may come off as abrupt or rude because they want to get off the phone as soon as possible.
In Ontario, the seller hires their own agent to represent their best interests, and the buyers hire an agent to represent the buyer’s best interests. If the seller’s agent speaks to the buyer’s directly, they face possible ramifications for their actions from the Real Estate Council of Ontario.
4- Be considerate of their time
Real estate agents are expected to manage their time well, and arrive early to their client appointments. So, if you make them run late on their schedule, they look tardy to their next client.
5- Get pre-approved
Seller’s perspective: when selling a home, sellers have to stage their home, keep it spot-less clean and make sure they are out of the house for showings. It’s only fair that they ask us to bring them buyers who are preapproved. In a market where houses sell in a week or two, there isn’t enough time to get preapproved once you find a home you like.
It’s okay to start viewing homes before you have a full pre-approval, but it’s an industry expectation that you get pre-approved within a few weeks.
6- Your Realtor Can Fire You Too
One of my first lessons in real estate came early. I, Christo, had a buyer who consistently pushed the boundaries by booking last minute showings, canceling last minute for showings, and even threatening to fire me because I wouldn’t show a home at 10 am on Thanksgiving.
That was the first and only client we’ve ever fired, but it was a vital step in establishing our brand. We enjoy our career, and we’re in it for the long haul, but to give all our clients professional service we need the ability to fire the ones that bring us down.
If you’re looking for the utmost service, contact us.