Is your real estate agent cutting corners? Here are five common problems to watch out for.
Every realtor has a different approach to preparing houses and condos for sale, and every seller must choose the realtor that’s right for them. But, as a realtor at an experienced brokerage, I’m constantly amazed by the lazy and sloppy work of some listing agents. Here are five signs that yours is cutting corners.
Not seeing the property: No, this isn’t a joke. There are more than a few 905-based realtors (and some who live a block from your property) who will sign a listing and never actually make the long, arduous journey into “the city” to view the property they’re selling. This is prevalent with newer downtown condos, as some agents believe that they’re all the same. They copy a stock photo of the building and the amenities from MLS, upload them to the listing and call it a day. This is not who you want handling your largest investment.
Terrible (or no) photos: Some agents think that any property will sell itself, as long as it’s on MLS. I vehemently disagree. There are often dozens of properties that match a buyer’s criteria. You have to give them, and their realtor, a reason to view your listing online in the first place, let alone go see the property. A “photo not available” notice on MLS is not enticing, but it’s astonishing how often this happens. Another major offence: when an agent takes his own photos with a BlackBerry camera instead of hiring a professional for $200. Consider it a deal-breaker if your agent refuses to bring in a photographer.
Incomplete MLS data: Only one in 10 MLS listings is what I’d call complete. Some agents don’t use the room description fields to detail the features and finishes, nor do they include room measurements. Each listing is given a full paragraph of space for a description, but many agents don’t use it at all. Others will say nothing about the property and offer generic blather such as “Great downtown condo close to amenities; perfect for your buyer.” Why not describe the actual property and not the city that surrounds it? How old is the furnace? When was the roof last replaced? How many cars fit in the driveway? This is pertinent information that could affect whether or not a buyer is going to pay the property a visit.
Proactive or reactive?: Realtors should be working on staging, upgrading, marketing and other preparations for two to three weeks before the property is listed. No house or condo is ready to be listed tomorrow. Not one. I don’t believe in simply signing listing papers and putting a sign on the front lawn, as there are some things that should be done in advance of the listing. For example, I’ll order the condominium’s status certificate weeks in advance so we have it present for all showings. For a house, I always pay for a home inspection. Both of these things will help solicit unconditional offers and will likely result in a quicker sale.
Rampant errors: Make sure your realtor knows which house or condo is yours! I’ve seen condominiums listed with the wrong unit number and, a few times, signs on the lawns of houses that aren’t for sale. Imagine coming home and seeing a sign on your lawn when it’s your neighbour who’s selling. Many realtors simply copy the data from an MLS listing when the property was previously for sale, which is a good way to copy somebody else’s mistakes. Just because you live in Unit 1810 doesn’t mean the legal description is “Level 18, Unit 10.” So a buyer could purchase “Level 18, Unit 10” when in fact it’s “Unit 34.” Land registry works in mysterious ways, and many realtors don’t bother trying to figure it out.
At a time when there are plenty of discount brokers available to sellers, I think it’s imperative that you consider exactly what you’re getting for your money. Just because something is cheap doesn’t mean it’s worthwhile. You likely wouldn’t use a 90 per cent off Groupon voucher for laser-eye surgery, so I’m continually amazed when property sellers allow their agents to cut corners because they got a discount on the price of the service. It’s your largest investment—don’t take the risk.
David Fleming is a Realtor with Bosley Real Estate in Toronto, and author of the best known real estate website in the city: www.torontorealtyblog.com. A constant thorn in the side of condominium developers, David’s sarcastic, opinionated, outlandish thoughts can be read daily, although for some people, that’s far too often.
