Why it's a bad idea to work with more then one real estate agent
Wednesday Apr 26th, 2017Share
Every day we receive phone calls and emails from potential buyers and sellers asking for help in getting some information on specific properties or for help in buying & selling a home. One of the first questions we ask everyone is, "Are you working with an agent?" Sometimes the answer is, "Yes, I am working with my friend (or son, or cousin, etc.)" Not everyone knows how the real estate process works, so we like to explain it to them and how they only need to hire one good agent or team to represent them.
All Realtors who pay their MLS fees have access to the Toronto Real Estate MLS which contains properties for sale all across the Greater Toronto Area. This is a huge database of properties listed by any Realtor in the system. Aside from a few exceptions, all properties are listed on the MLS system.
This means that all Realtors have access to the same properties. This means your Realtor friend; son or cousin can give you the same information we can.
Most of us wouldn't like it much if we went to work everyday for a company and they decided not to pay us, right? When you ask a Realtor to do some work for you, they are doing it for free. Realtors are not paid salaries. We are only compensated when we sell a home. If you hire more than one Realtor to work for you, then someone is not going to get paid for their time and effort. It's a lot like going to work and not getting paid. Stinks, doesn't it?
We encourage people to talk to more than one agent if the first one you speak to doesn't know the market or is doing a poor job. And often times there is a break down in communication. Perhaps the agent isn't sending you the right homes because they failed to ask you the right questions. Sometimes buyers & sellers need to be brought down to reality and some agents have a hard time doing that. Perhaps the agent you are working with lives and works primarily in Mississauga and you are looking for a home in Leslieville. This doesn't work well for many reasons, one being that they may not hear about new listings coming on the market first, or not knowing that the home they direct you to is next door to a planned sewage station. Not good, right?
If you are looking to buy or sell a property, all you need to do is hire one good Realtor. One that is professional, knowledgeable, hard working, and knows the area well. Experience DOES matter.
Some people think that if they hire more than one agent, it will motivate the agents even more. Actually, the opposite happens. You end up getting a half-hearted effort from two agents because one of them is going to end up working for free.
We encourage you to give Wafa Masri and Jalila Freve at RE/MAX Hallmark a call if we can help you buy or sell in the Beaches, Leslieville, Liberty Village, and Riverdale areas. We can be reached at 416-699-9292 or by e-mail at firstname.lastname@example.org. Please visit our website to search for homes www.weselltoronto.com.