Many people think that Realtors are capable of providing the level of service and expertise you need no matter the transaction.
But, just as there’s a doctor for every part of the body, Realtors also have their areas of expertise.
And really, a specialist is what you want and need given the size of the transaction. They are uniquely equipped with the insights, strategies, and refined skills to get you the best possible results.
So, how do you determine which Realtors are best equipped to handle your purchase or sale?
Here are three things to consider:
1. Their Experience With Similar Properties
It goes without saying that selling a farm is dramatically different than leasing an office building.
That said, many people don’t realize is that even within residential real estate there are several areas of specialization:
Luxury Homes
Because of their higher price point, there are fewer buyers in the market for luxury homes – and, naturally, buyers and sellers have high expectations given the size of the investment.
Among other skills, Realtors who specialize in these properties excel at networking, invest in premium visuals paired with in-depth storytelling to showcase the lifestyle afforded by the property and have the deep knowledge of high-end finishes and features needed to evaluate and communicate the home’s value.
Condos
Much like a luxury home, a condo has a unique lifestyle that impacts how a Realtor approaches the buying and selling process. For that reason, they’ll have a thorough knowledge of neighbourhood amenities and attractions, transit systems, as well as have their finger on the pulse of urban development initiatives that could impact your living experience and the value of your investment.
Also, they need to know how local condos compare in terms of interior features: building age, amenities, condo fees, security, parking, storage, etc.
Recreational Homes
Buying a cottage is exciting, but there is A LOT to consider.
Access, privacy, views, waterfront ownership, legislation that could restrict what you can build on your property, power grid, etc. It’s a lot to unpack, which is why you’ll want a Realtor who knows these properties well and which questions to ask.
New Homes
There are a lot of moving parts when buying a new construction home. A Realtor who knows their stuff, however, can make the process easy.
Evaluating builders, understanding costs, advising on the best possible layouts, knowing what’s included and what’s extra, deciding where it makes sense to upgrade — all of these are areas where a new home specialist’s expertise comes in handy.
2. How Well Do They Know The Area?
Your Realtor doesn’t need to be a local tour guide, but they should routinely work in the area in which you’re looking to buy or sell.
Having a deep knowledge of the local market allows them to accurately price your property, advise you on offers and, if you’re buying, show you the best neighbourhoods in which to live. It only makes sense to work with a local expert.
3. Why Are You Buying Or Selling?
We’ve tackled the “what” and the “where” – but what about the “why”?
If you’re looking to purchase real estate as an investment, for example, you’ll want a Realtor who deeply understands cash flow and ROI, all the expenses that will arise, knows how to spot a great opportunity — and has access to unique opportunities of their own!
In other cases, people sell due to a separation or a death in the family. Having a Realtor who is professional, sensitive to client needs, and is knowledgeable about legal procedures and tax implications can help all involved get through a difficult situation more easily.
Go With a Specialist
As you can see above, real estate is diverse. Every property and situation is unique and presents its own set of challenges.
But, real estate specialists exist – just as they do in every profession. By partnering with one, you can feel confident that any obstacles you face can be overcome, you’ll receive expert advice and, ultimately, you’ll get the best possible results.
