Toronto Condo and Real Estate Broker Information

When you're looking for someone to help you sort through all of the available Toronto condos on the market and choose the one that is right for you, you will find that there are those that call themselves real estate agents or realtors and those that are listed as being real estate brokers. You will want to find the person who is best going to be able to work with you and might not know exactly what these terms mean and who will be best. We can help you define these different professionals and can point you towards the right guide to your next home.

A real estate agent is simply someone who is certified to buy and sell homes. They have completed training so that they know things like what makes the value of a house go up and down and will be able to give you some basic information on how to go about negotiations when you're buying or selling. A realtor is someone who is a member of a group that is devoted to practicing the socially responsible sale and purchase of homes. This means that they have signed an agreement that they will not lie to or withhold important information about a home from the people who are thinking about buying it. There are also many other things that a realtor has agreed to that are helpful to buyers and sellers before they are allowed to carry this title.

When you're looking at the list of Toronto real estate brokers, these are the people who have gone through the most extensive training when it comes to buying and selling homes. They hold more liability with their business in terms of ethical practices and there is usually one broker within each real estate office that is overall in charge of operations. There are some brokers who choose to run the office and leave the actually buying and selling of the majority of the homes up to their team. And then there are those that are still working alone to help you through the buying or selling process.

When you're looking for a real estate professional to help you find your next home, you're likely going to want to look at those that are most qualified first. But, it might actually be more important to find someone who knows the area where you're thinking of buying well and understands your needs as a buyer. Talk to several agents and see what they have to say before you choose which one is really right for you. Most people will want to speak to at least three different agents before they can decide what type of real estate professional might work for their needs and situation. You can even talk to several within one office.

What Defines Luxury For Toronto Condos

One of the things that people commonly associate with living in a modern condo is a sort of glamorous life. You are usually going to be living in a downtown location and are steps away from all of the entertainment and nightlife options that you could want. Condos also come with amenities and there are several that you would not see in a standard home. If you're looking for a life that includes some luxury then you might want to look at living in one of the downtown condo complexes that are being created for just this purpose.

When you're looking at luxury condos Toronto listings, you will find that many of the extras come in condo services and amenities that are offered to all those that are living in that building or complex. You might find that some have pools, tennis courts, rooftop patios and movie theatre rooms. There are others that even include spa services and have things like valet parking and valets at the front desk who can take care of things like your dry cleaning. If you want to be treated like you're staying at a five-star hotel every day when you come home, then there are condos that can give you that here in Toronto. Some are even part of hotels, like the Four Seasons and the new Toronto Trump Tower.

Luxury is also about what you're getting when you walk into your unit and the space that is entirely your own. If you're living in a high-rise condo then you will find that the prices go up as you get higher in the building thanks to the views that you can get of the city or of the waterfront. You will find a number of different layouts and designs in modern condos, from sleek and open space to more of an older feel with ornate detailing. Large balconies, gourmet kitchens and spa-like bathrooms are all things that you might find in a luxury condo unit.

If you want luxury, then you're going to need to be able to pay for it. Paying for a condo comes in both your purchase price and in monthly condo fees. You should make sure you really can afford all of these extras before you buy and that you're going to use them to their full potential. Some people are okay with just a few luxury features while others are more than willing to pay for the whole package.

Do you think traditional real estate agents charge too much to sell your home ?

Do you think Real Estate agents charge a too much money?
10 years ago agents would have been able to justify a 5% or 6% commission, but not today.
Over 80% of buyers are finding properties and agents from the internet. So now all the agent has to do is input your listing into the local MLS system and the buyers will find it automatically.

Do you know how long it takes to input a listing in the MLS system?
Half an hour to maximum one hour! After that EVERY agent in the Area will know about it and ANY buyer ANYWHERE in the world will know about it.

Do you know how much a traditional agent wants to charge you for that one hour of work?
Anywhere from 2 percent for himself (the listing agent) and 2.5 for the agent bringing in the buyer (the buyer’s agent). The commission usually totals 4.5% to 5%. Do you think 2% is a lot of money for 1 hour’s of work?
If you own a $300,000 house that equals $6,000 just for his end. That does not include $7,500 paid to the buyer’s agent.

How long did it take you to build up the equity in your home?
And the agent wants to just come and take it away for a few hours of work.
There is a better way, find yourself an agent in your area that will give to a fixed low price rate for listing, say 1%, you can then save yourself the other amount for yourself, if he sells your property he will still make the selling agents commission but you won’t pay the large amount for 1 hours work.

When’s the best time to sell your home ?

Here’s a few tips from my condos downtown Toronto specialist Franco Dinatale, on when to sell your home.

Deciding When To Sell

People decide to sell for a wide variety of reasons. It could be a work- related move, expansion to make space for new arrivals, or less need for space due to a reduction in the number of family members living at home. Some people just fancy a change every once in a while and others decide to cash in when they think they’ve ridden price rises as far as they can.

Before you start, think about what is involved in the whole process, how long it is likely to take, any external time or financial pressures that you may have and any other constraints that there may be, such as buying a new home to move into.

If time is a critical factor in your sale, then you could be in for a stressful time, so make sure you give yourself as much of it as possible. Not everything that can go wrong necessarily will, but cutting time deadlines fine will only add to the pressure and stress of what is already a far from hassle free experience.

Don’t rely on the sale going through incredibly quickly. Even if you do find a buyer quickly, there are all sorts of other reasons why delays can hold up the sale. You rarely have much influence over when a buyer will come along or how long your property will be on the market.

One other important thing to do is to check with your lender that you are not going to be hit with all sorts of redemption penalties when you redeem your mortgage. As the costs of selling and buying mount up, you don’t want to be hit with a bill for what can amount to thousands of dollars. If you do have to move but there are redemption penalties, try to consider other alternatives such as renting, at least until the redemption period is over.

When To Sell

For vendors, certain times of year are definitely more favourable than others.

March to July tends to be the busiest time in the property market, though late summer and early autumn can also be busy in some places.

High summer tends to be a bit slower. This is due to people being on holiday or coping with the kids being at home. People are often unwilling or not able to view, exchange, co-ordinate and complete the necessary activities with the many distractions that summer has to offer.

Apart from the traditional seasonal ebbs and flows of the market, conditions can be become ripe for a vendor at any time, so always try to keep and an eye or an ear on the market. It may sound obvious, but try to sell when demand is high, as prices will be pushed up – something that clearly benefits you.

If, like most people, you are trying to co-ordinate buying and selling a home, it is best to put your home up for sale before you seriously start looking for a new home to live in. Until you find a buyer for your own home, you cannot tell with any certainty what price you are going to achieve (and therefore how much you are going to have available for a purchase) or how long it will be before you are in a position to go through with a purchase. Of course, if money is less of an object, or you’re not against the idea of bridging finance, then this becomes much less of an issue.

When Not To Sell

The worst time to sell is when there are fewest buyers in the market. If interest rates are temporarily raised to calm the market, you may find that buyers are in short supply. If both your next door neighbours put identical houses up for sale at the same time, it may be a bad idea for you to do the same. So once again, try to follow the markets and read the signs. Following the news on this site should keep you in the picture.

In terms of the four seasons, autumn generally sees the housing market slow down. The reason for this is that winter tends not to be such a popular time for buyers, with the Christmas period a time when few people like to be moving . Most buyers tend to prefer to wait until the new year.

Having said that, some properties have certain characteristics that are best seen at certain time of year. The sun may set beautifully giving rise to a fantastic view from one of the rooms for only a few months of the year or you may have a fantastic view during the winter months, which is obscured by greenery during the summer.

At the end of the day, much depends on your property. If it is in a sought after location, you should have no problem selling at a reasonable asking price regardless of the time of year or market conditions. Then again, if there are strong reasons that may put buyers off from acquiring your property, these are likely to be valid objections regardless of whether demand has gone through the roof in the market as a whole. But it does no harm to play the percentages and do everything possible to gain as much advantage for yourself as possible.

Franco Dinatale has been selling Toronto condos and lofts for many years and can advise you on the best time to sell and what to do to make sure you get the best price in the quickest time.

How to get your house ready to sell for the best price in the shortest time

For those of you who want to do it yourself and can’t afford a home staging firm, here’s a few tips from my Toronto waterfront condos specialist Franco Dinatale

It’s always a good idea to spruce up the exterior and interior of your home before listing it for sale. But that doesn’t mean you have to undertake major and/or expensive project.

Just a little effort will greatly increase the perceived value of your home. After all, if you wanted to undertake a large-scale project, you probably wouldn’t be selling!

Here are some simple steps you can take to increase the perceived value of your home and make a great first impression.

Exterior Appearance

  • Keep lawns cut
  • Trim hedges and shrubs
  • Weed and edge gardens
  • Clear driveway and clean up oil spills
  • Clean out garage
  • Power wash
  • Touch up paint
  • Plant colorful, inexpensive flowers – in pots if necessary

At The Front Door

  • Clean porch and foyer
  • Ensure door bell works
  • Repair any broken screens
  • Fresh paint or varnish front door
  • Repair door locks and key access

Create a Buying Mood

  • Make sure your home smells fresh and clean
  • Turn on lights
  • Turn on air conditioner/heater
  • Open the drapes
  • Light the fireplace

Create Space

  • Clear halls and stairs of clutter
  • Store surplus furniture
  • Clear kitchen counter and stove top
  • Clear closets of unnecessary clothing and “stuff”
  • Remove empty boxes and containers
  • Put away personal photos so buyers can envision the house as theirs

Maintenance

  • Repair leaking taps and toilets
  • Clean furnace and filters
  • Tighten door knobs and latches
  • Repair cracked plaster
  • Apply fresh coat of pain or touch up where necessary
  • Clean and repair windows
  • Repair seals around tubs and basins
  • Replace defective light bulbs
  • Oil squeaking doors
  • Repair squeaking floor boards

Squeaky Clean

  • Clean and freshen bathrooms
  • Clean fridge and stove (in and out)
  • Clean around heating vents
  • Clean washer and dryer
  • Clean carpets, drapes and window blinds
  • Eliminate pet odors and stains

Franco Dinatale has been selling Toronto Lakeshore condos for many years and can advise you on the best time to sell and what to do to make sure you get the best price in the quickest time.