Are you starting the process of buying or selling a home? If so, one of the first steps you take should be finding a real estate agent who can help you achieve your goals. While there are many qualities to look for in an agent, neighbourhood expertise is one of the most important.
Experience is the greatest teacher. A real estate professional who has helped clients buy and sell numerous homes in a particular area will know the community inside and out. Their local knowledge can translate into major benefits for homebuyers and sellers.
Here are just a few of the reasons why you should look for a real estate agent with neighbourhood expertise.
YOU’LL BENEFIT FROM LOCAL MARKET KNOWLEDGE
Neighbourhood experts have an intimate knowledge of local housing statistics and market trends. They compare home prices in the community on a regular basis, and they use their analyses to achieve successful outcomes for clients.
When selling, an agent who understands local market dynamics can help you identify your most likely buyers. From there, you can learn what upgrades to make that add value to your home and what projects will not be worth your while.
Smart home sellers know that a compelling price point is critical. A local agent will factor in all of the latest data so you enter the market at a price that allows you to maximize your sale. In addition, they’ll use what they know about home hunters in your neighbourhood to design a promotional plan that gets results.
If you’re a buyer, a professional who knows the market can help you quickly zero in on homes that meet your budget and criteria. During competitive situations, they will help you craft an offer that gets the seller’s attention. Surprisingly, effective negotiation isn’t always about offering the highest price.
A Realtor® with local expertise can also help you find the perfect spot for downsizing. Learn more in the posts below :
- Where Do Toronto Downsizers Go?
- Should You Retire Near The Waterfront In Etobicoke?
- Your Guide to Downsizing in Toronto in Style
YOU CAN LEVERAGE NEIGHBOURHOOD CONNECTIONS
Sometimes it’s not what you know but who you know that can open the door to a better real estate outcome. An agent with a great local reputation will have a network of satisfied clients in the community, which they may be able to leverage when they’re looking to find you the right buyer or seller.
When selling, you often have access to already interested and qualified buyers where your home meets their criteria.
When buying, an experienced local buyer agent can also give you access to homes that aren’t even listed on the open market. An extensive network combined with positive relationships with other real estate professionals and brokerages can sometimes open doors you may not realize existed.
Neighbourhood experts will also have good working relationships with other professionals in your community—from mortgage lenders to electricians. Whether you’re buying or selling a home, your agent can refer you to the right people to help make the process smoother.
Finding and securing the ideal home in Toronto can be challenging. The resources below can open up more possibilities:
- Should You Buy a House Close to a School?
- Must-Have Features for Luxury Home Buyers in Etobicoke
- 5 Signs You’ve Found The Right Home
YOU’LL HAVE MORE NEGOTIATION POWER
Whichever side of a transaction you’re on, you may be able to get a better deal through negotiations. A real estate agent with in-depth neighbourhood knowledge is well positioned to look out for your interests during this process.
If you’re a seller, your agent might use recent neighbourhood sales data to justify a higher price. They can point out all of the features your home has that others nearby may not. Even local amenities can add perceived value to your property, especially if your neighbourhood is particularly walkable or is in the vicinity of a highly sought-after school.
If you’re a buyer, a local agent with a pulse on the market may realize that a home similar to the one you’re considering recently sold for less money down the street.
No matter what the situation, a representative who knows the community, its homes, and how much they’re selling for can negotiate more persuasively on your behalf.
Are you planning to sell your home this year? The resources below can help you make the most out of your experience:
- 5 Reasons You Should Stage Your Home To Sell
- Elevate Your Lifestyle By Maximizing The Sale Of Your Current Home
- Can You Sell A House In Toronto As Is?
YOU’LL UNDERSTAND COMMUNITY LIFE
Put simply, an agent with neighbourhood expertise knows what day-to-day life is really like in the communities where they work. As a result, they’re better equipped to serve their clients.
Home buyers need to have a complete picture of the area where they’re planning to live to make an informed purchase. A knowledgeable agent can give you the background on everything from nearby amenities and average commute times to the best parks in the area and the neighbourhood’s general character.
Sellers are more likely to receive great offers if they have a fantastic marketing plan—one that highlights not only their home’s features, but all that the surrounding community has to offer. No matter how you look at it, you can expect a higher level of service and a more desirable outcome by working with a skilled local real estate agent.
Do you want to know more about buying or selling in Etobicoke or West Toronto? We are your local experts and are happy to answer all of your questions. Reach out today to ana@asantos.ca or call 647.232.7317 to get started.