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Moving to Toronto? Here’s What to Look for in Your Real Estate Agent

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Toronto is known for its diversity, its food, its arts and entertainment scenes, and so much more. It is one of Canada’s most dynamic cities and welcomes millions of tourists every year. Whether you love the heart of Downtown Toronto or you prefer the quiet suburbs, there is something for everyone — so it’s no surprise why so many people move to the city.

Moving is a significant process that involves planning and efficient execution in order to minimize stress and overwhelm. That’s where qualified Forest Hill real estate agents come in. Working with a professional agent is the easiest way to ensure you’re getting the best value for your home, and you’re working with someone who knows the city’s diverse neighbourhoods.

The question then becomes, what do you look for in a professional Toronto real estate agent? We’ve put together a list of tips to consider before signing on with a local agency.

Local Expertise

Toronto offers a variety of niche markets, and each neighbourhood is more diverse and eclectic than the next. Whether you’re moving to the city from abroad or from another corner of the GTA, it’s essential to work with an agent that has in-depth insight and expertise in the areas you’re interested in.

In a competitive real estate market, look for agents that have successfully sold properties and have garnered positive reviews across the city. This ensures you’re spending your time with an agent that can find exactly what your family needs because they know how to negotiate with their colleagues, and they understand the current market trends — which brings us to our next tip.

Understanding Trends

A reliable and reputable Toronto realtor should have a detailed knowledge of past real estate trends and where the current market is today. This insight allows them to price homes accurately and negotiate for their clients to achieve the fairest price for their desired home.

Solid Network

Since the industry is more competitive than ever, finding a realtor with a significant network of connections can help you find hidden gems or properties before they even hit the market. If you’re interviewing realtors, consider asking them what their network is comprised of and how they utilize this network to their client’s advantage.

Negotiation Skills

Ultimately, you want the very best deal for your Toronto home or condominium. That’s where your realtor comes in — they act on your behalf and should have the necessary negotiation tools and skillset to achieve the best price.

Consider how your prospective realtor engages with their colleagues and how they go about the negotiation process. If they have the most effective tools and resources, you can put your trust in their abilities and know you’re going to be signing your contract with confidence.

Conclusion

While moving to a new city, especially a bustling metropolis like Toronto, is an exciting adventure but rising real estate prices and increased demand for inventory can make the process feel daunting. Finding a quality real estate agent and brokerage is the first step to ensuring your money is working for you and ensuring you’re getting the best possible price for your ideal home. When you have confidence in your agent, you can enjoy the rest of the moving process and what your new city has to offer.

 

 

 

 

Picture Credit: Burst via Pexels

Real eState

Mortgage rule changes will help spark demand, but supply is ‘core’ issue: economist

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TORONTO – One expert predicts Ottawa‘s changes to mortgage rules will help spur demand among potential homebuyers but says policies aimed at driving new supply are needed to address the “core issues” facing the market.

The federal government’s changes, set to come into force mid-December, include a higher price cap for insured mortgages to allow more people to qualify for a mortgage with less than a 20 per cent down payment.

The government will also expand its 30-year mortgage amortization to include first-time homebuyers buying any type of home, as well as anybody buying a newly built home.

CIBC Capital Markets deputy chief economist Benjamin Tal calls it a “significant” move likely to accelerate the recovery of the housing market, a process already underway as interest rates have begun to fall.

However, he says in a note that policymakers should aim to “prevent that from becoming too much of a good thing” through policies geared toward the supply side.

Tal says the main issue is the lack of supply available to respond to Canada’s rapidly increasing population, particularly in major cities.

This report by The Canadian Press was first published Sept. 17,2024.

The Canadian Press. All rights reserved.

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National housing market in ‘holding pattern’ as buyers patient for lower rates: CREA

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OTTAWA – The Canadian Real Estate Association says the number of homes sold in August fell compared with a year ago as the market remained largely stuck in a holding pattern despite borrowing costs beginning to come down.

The association says the number of homes sold in August fell 2.1 per cent compared with the same month last year.

On a seasonally adjusted month-over-month basis, national home sales edged up 1.3 per cent from July.

CREA senior economist Shaun Cathcart says that with forecasts of lower interest rates throughout the rest of this year and into 2025, “it makes sense that prospective buyers might continue to hold off for improved affordability, especially since prices are still well behaved in most of the country.”

The national average sale price for August amounted to $649,100, a 0.1 per cent increase compared with a year earlier.

The number of newly listed properties was up 1.1 per cent month-over-month.

This report by The Canadian Press was first published Sept. 16, 2024.

The Canadian Press. All rights reserved.

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Two Quebec real estate brokers suspended for using fake bids to drive up prices

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MONTREAL – Two Quebec real estate brokers are facing fines and years-long suspensions for submitting bogus offers on homes to drive up prices during the COVID-19 pandemic.

Christine Girouard has been suspended for 14 years and her business partner, Jonathan Dauphinais-Fortin, has been suspended for nine years after Quebec’s authority of real estate brokerage found they used fake bids to get buyers to raise their offers.

Girouard is a well-known broker who previously starred on a Quebec reality show that follows top real estate agents in the province.

She is facing a fine of $50,000, while Dauphinais-Fortin has been fined $10,000.

The two brokers were suspended in May 2023 after La Presse published an article about their practices.

One buyer ended up paying $40,000 more than his initial offer in 2022 after Girouard and Dauphinais-Fortin concocted a second bid on the house he wanted to buy.

This report by The Canadian Press was first published Sept. 11, 2024.

The Canadian Press. All rights reserved.

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