Toronto has enough real estate agents to fit into a mid-sized Ontario town. I grew up in Cobourg, which has two high schools and three different shopping centres, and the total number of residents is still only about a third of the number of licenced real estate agents in the GTA. The bar for entry into real estate is low. And, in theory, the pay can be high. So, with low entry requirements and hypothetical cash windfall, it is no surprise that many people hang their hats on this profession.

However, not all real estate agents are created equally.  Most people have had both a great experience and a horrible experience with a real estate agent. Unfortunately, there is no standard of care that all real estate agents are obligated to deliver besides some basic rules in our client contracts. Also, the most valuable training occurs after we are licensed at the brokerage level (rather than the industry level). Therefore, the amount of training new agents receive varies wildly.

Although the bar for entry is low, the standard of excellence is high. Real estate is easy to do and difficult to do well. Therefore, there is a large spread between good agents and bad agents. Which begs the question.


Want to know more about the advantages of working with a great agent? Check out these blog posts.


How do you know that you’re hiring the right agent? And what should you expect from a good agent?

Here’s what you should expect when you work with an agent as a buyer

  • Lots of communication: Have you ever hired an agent and then… nothing? Even if there’s nothing on the market that could work for you if you’re ready to buy a place, you should expect to hear from your agent at least once a week. Beyond that, your agent should be prepared to explain anything you are curious about clearly. If you feel your agent brushes you off when you ask a question, they’re likely not a great fit.

  • Lots of showings: the only way to buy a home is to see many options. Your agent should be willing to show you all properties in the areas you’re focusing on. When we work with buyers, we set up blocks of three-hour times for showings and call it “Window shopping.” We want you to see everything available in your budget so that you know firsthand whether the market offers what you’re looking for.

  • Neighbourhood knowledge: Your agent should be familiar with the neighbourhood you’re looking in. Toronto neighbourhoods are idiosyncratic, and values can shift depending on what side of the street you’re on. Find an agent who can explain those nuances to you. For example, out-of-town agents often list homes in Parkdale at Roncesvalles’s prices. Although the two neighbourhoods are side by side, the house values are hugely different.

  • They’re proactive: Your agent should be actively searching for you. They should gently push you to expand your search criteria if not much is coming out for you. They should call you excitedly when something comes out that would be perfect for you. You should not feel like you’re reminding your agent about your search.

  • Honesty: Do you want a “yes man” or an advisor? If you’re being unrealistic, your agent should be able to tell you that. Good agents are honest with their clients, even when the truth hurts.

  • Good referral network: Your agent should be able to refer you to mortgage brokers, lawyers, tradespeople, accountants and so on.

  • Deal follow-through: Your agent should still be available for any logistical issues after you buy a house. In your first meeting with your agent, ask them what their services are like after completing the sale.

  • Experience: Your agent should be experienced. In real estate negotiating, issues that need to be dealt with quickly can arise. Your agent should understand all the necessary contracts and clauses that either party may add to your offer at any point. Murphy’s law dictates that obscure clauses and conditions often must be added to an agreement at 11 pm when no lawyer is available to review. Your agent should already know what to do in these situations. Ultimately, our job is to help you sign a legally binding contract that benefits you more than the seller.

Ask your agent for referrals from their past clients. You can even ask us for a list of properties that we have sold recently. We are a proud bunch and love being able to show our work.

What to Expect When Working With an Agent as a Seller

Many characteristics that make a good buyer’s agent hold for being a good selling agent, so this list is shorter to avoid redundancy. But here are the significant points:

Advice on prepping your house to maximize profit: When listing your home, there is no one-size-fits-all approach to preparing your house. The type of property you want to sell and the current market conditions affect your house prep strategy. For example, If your home needs to be gutted, your agent should not recommend that it be staged. Or, If your house was last painted in the 1990s, it’s a great idea to paint out all those yellow walls before it hits the market.

Thorough market information before you list your house: Your agent must know everything about your neighbourhood’s market. This is even more important when you hire a selling agent than a buying agent. When listing a property, your marketing and price strategy must be competitive with the other houses in your small neighbourhood. Find an agent who understands what your micro-market can bear.

Marketing examples: Your agent should be able to show you everything that they will do to market your home. Ask for previous flyers, social media posts, website write-ups, etc. Your agent should be able to prove their worth.

Need more tips for interviewing a real estate agent? Check out our post on the topic here.

Real Estate Agent Red Flags

You should look out for these red flags when interviewing a real estate agent. A lot of these happen all the time, and they are subtle. These red flags indicate that an agent isn’t working in your best interests.

Overpromising

This is very common. Agents promise sellers that the house will sell for a considerable amount. They are lying to get the listing contract. Once you are in a contract, they’ll tell you to reduce the price. Interview a few agents, and if one of them tells you that your house value is much higher than the others, that’s a red flag. All agents will want to sell the house for as much money as possible. But, you want to hire one that is realistic about its value.

They talk about “not wasting everyone’s time”

If I had a penny for every time I’ve heard an agent say this, I’d have… over two dollars, probably. This phrase comes up way too much. Real estate agents who are reluctant to do work unless there’s a good chance they’ll get paid are a huge red flag. At your first meeting, you can ask your agent how they’d feel about submitting lowball offers for you. If they say they “don’t want to waste their time,” look for another agent.

They tell you that the market will “come right back”

This is specific to our current market conditions, but we’re hearing many agents telling their clients that the market will come right back in the spring. We likely won’t see that frenzied Toronto market again for many years. Any agent telling you otherwise is gaslighting or doesn’t understand it themselves.

They’re a jack of all trades

A listing agent who is also a contractor convinces you to hire them to renovate your home before you list it. They’re double-dipping and being paid for both your reno and your sale. Ask them for third-party recommendations instead.

They leave you on your own

A buyer agent gives you the lock box code to a house, so they don’t need to be there at a showing with you. This is a huge red flag. That agent is putting their licence at risk. What other rules are they willing to break?

They promise to take all your stress away

Unless they can give you xanax on the daily, you will likely be stressed no matter how good your agent is.

Robyn VanderVennen
The Kim Kehoe Team