Why should I pay a real estate agent to sell my property? Episode 3
Thursday May 20th, 2021
Why should I pay a real estate agent to sell my property and what do I get in return for the commission I pay? Ontario Real Estate Panel discusses, what is it that real estate agents bring to the table to earn their commission?
Many sellers believe that their Realtor puts a sign on the lawn, makes a social media post, and then waits for the property to sell.
Generally, nothing could be further from the truth.
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[00:00:04]Melody: [00:00:04] Welcome back to another episode from the art E panel. And thank you so much for watching. My name is melody, Campos. I am based in Toronto and I was forced to brokerage in Toronto. I am here today with Davor, Elyse. and Mike as usual. And in today's episode, we will offer some real estate transparency as we answer a common question.
[00:00:25] Why should I pay a real estate agent to sell my property? And what I get to return to the commission, I pay. So many clients believe that their realtor just simply assigns online and use a few social media posts and then wait for the property to South. But generally nothing could be further from the truth.
[00:00:45] Elyse take it away with some more information.
[00:00:48] Elyse: [00:00:48] Hi everyone. My name is Elise Bouwmeester and I'm with red and white Realty. In the Waterloo region. I'm going to tell you a little bit about what agents do. I'm going to give you a small synopsis. So we do a lot of research behind the [00:01:00] scenes. As soon as you say, Hey, Elyse I want to do this property.
[00:01:03] We pull that property up. We get something called a three op report. It prints out some of the basic data and we start looking for comparables. So if we're listing your property, we start calling comparables to come to an appropriate market value for you and an appropriate price that you can list your property at.
[00:01:20] We also can offer some expert advice around it. Staging. So a lot of people think that because this is a seller's market that you don't need to stage your property. This could not be further from the truth. I have gone into so many homes this last month, some are stage and some are not. And let me tell you that the offers definitely reflect this.
[00:01:39] It is very hard for a buyer to imagine themselves inside of your home when it is cluttered and not decorated. When listing the property, we're also trained to represent the seller by making sure that the property information put into the MLS system is accurate and that it's also attractively presented to everybody.
[00:01:58] We also do [00:02:00] make sure that we do disclosures and that we ask for disclosures about property. So we can make sure that we have open and honest communication. So everybody knows about it. That property and what you're getting when you buy it. Davor, can you please tell us a little bit about what happens after the listing assigned?
[00:02:17] Davor: [00:02:17] Sure. What's up everybody I'm Davor. I'm from Ottawa I'm with Weybridge Realty here. So once the listing is signed, the realtor begins to behind the scene work. This includes, but is not limited to marketing the property, which includes putting the property into multiple listing systems MLS, yes.
[00:02:34] Installing the sign. The social media marketing campaign, creating feature sheets and pamphlets, setting up open houses and possibly the most important part, which is tapping into the enormous network of local realtors in search of potential buyer agents, looking for the exact type of property that we're offering.
[00:02:52] All of this work is done quietly behind the scenes. So it is understandable that realtor's jobs is misunderstood. From [00:03:00] qualifying potential leads, gathering and assessing feedback from other realtors, running social media, advertising campaigns and promoting the listings on our own personal social media channels really do quite a lot in order to secure a qualified buyer for a seller client.
[00:03:14] And yes, we do just as much for buyer clients as well, but moreover the mic.
[00:03:20] Mike: [00:03:20] Great. There was a piece of great information. Mike, Crisp from Royal, the page Motown in the Holton Hills area. And I'm going to say there is lots, lots more. I mean, we're, we're doing this one today, guys, only for a few minutes.
[00:03:33] When we meet with our clients, we probably spend about an hour talking about the value that we bring to the table and, you know, there's one area for sure. That we bring. Tremendous value in that is in the negotiation. Handling objections and tactically representing the seller's vet's best interest is certainly an important skill that real tows obtained through specialized training and personal experience.
[00:03:58] And we [00:04:00] recognize, you know, saving commissions can be really, really enticing. But you know, when, when you look at what the realtors bring to the table from a standpoint of negotiations and marketing the property, the end of the day, you know, if we are successful in getting you 10% or greater value compared to what the market is dictating, you know, I would ask you, folks, not to really think about what the commissions cost you.
[00:04:27] But the amount of extra money you're making, because what your realtor brought to the table and, you know, writing enforceable contracts and negotiating, legally binding agreements are really important service. And, you know, mostly go unnoticed, but you know, if something does go off the rails, right.
[00:04:44] Everybody recognizes the value that certainly the realtor brought to the table. Another generally invisible service, all the stuff that we do behind the scenes. You know, when you think about behind the scenes, there are schedules, there are waivers, there are conditions, all of this
[00:05:00] stuff needs to happen before.
[00:05:01] Or the house successfully closes. And with that, I love hearing stories guys about, you know, at the closing stage, how realtor really steps up their game and creates an experience that quite frankly, is a surprise and delight and melody. I know you've got, you know, an example of that for sure.
[00:05:20] Melody: [00:05:20] Yeah, absolutely.
[00:05:21] So, one thing I love to hear in the industry is how great you have those. The agent communicates everything. So everything from the beginning to offering staging companies. To the middle. When you are receiving that feedback from other real estate agents that bring their buyers in, what are they looking for in that person's home to the very end where they are looking at all the offers in front of them, and you're giving them such a great and knowledge.
[00:05:47] Not knowledgeable information so that they can make that informed decision so that they choose the right offer. And they're happy with what their next stage in life is. So for instance, if they are moving on to buy property in a different city [00:06:00] maybe they are smart sizing as we call it, which could be downsizing or upsizing.
[00:06:05] So just like great communication. What we, those, the agents love to see
[00:06:12] Mike: [00:06:12] any examples.
[00:06:13] Elyse: [00:06:13] Yeah. So I I love to give things to people. I, when I signed on with a client, I bring them some flowers or some chocolate. We were talking as a group outside of this a couple of days ago. And the RA panel and Mike actually offered up some great examples of, you know, surprising your clients with pizza when they move and, you know, showing up and feeding the whole moving crew or surprising them and having their home clean.
[00:06:38] So I love those examples and I'm going to use them with my future clients.
[00:06:42] Mike: [00:06:42] Awesome. And I know you've got a bunch, but what are you, what's, what's the one that really stands out for you to work?
[00:06:49] Davor: [00:06:49] Yeah, for me, I think a main thing is, is that through hard work and dedication, clear communication that we, the entire network bring to our clients.
[00:07:00] [00:07:00] I mean that you're almost guaranteed to get exactly what it is that you're looking for. As a client.
[00:07:05] Mike: [00:07:05] So yeah, love it. Love it. Well, I hope folks have really wrapped it up for today. Hope you've got some stuff that you can really take away from this. We always really encourage your feedback. So please tell us, you know, what you want to hear and what you want to hear more of.
[00:07:20] And we'd go to another episode coming at you for next week. I think we're going to be spending some time on getting your house and homes ready to list. So with that, have a great one. We'll see you again next week. Bye.
The RE panel includes:
Real Estate Agent Davor Cukeric - servicing Ottawa & NCR
Waybridge Realty Inc. Brokerage
Real Estate Agent Mike Crisp - servicing Halton & GTA
Royal LePage Meadowtowne Realty
Real Estate Agent Melody Campos - servicing Yorkville & GTA
Forest Hill Real Estate Inc. Brokerage
Real Estate Agent Elyse Bouwmeester - servicing Waterloo region
Red and White Realty Inc. Brokerage
[00:00:04] Welcome (Melody)
[00:00:48] What Agents Do. (Elyse)
[00:02:17] What happens behind the scenes. (Davor)
[00:03:20] Negotiation/Closing. (Mike)
[00:05:20] Closing remarks. (Melody)
[00:06:13] Closing remarks. (Elyse)
[00:06:49] Closing remarks. (Davor)
[00:07:05] Closing remarks. (Mike)