If you’re a savvy investor than don't you owe it to yourself to deal with a Toronto Realtor that is just as qualified? And if you’re new to the whole investment market then don't you owe it to yourself to deal with someone that will not only educate you along the way but also speaks the language you want to learn? Unfortunately not all Realtors are created the same.
Many Realtors are interested in individual transactions – simply buying and selling homes and gaining commissions. Investor-savvy agents, on the other hand, understand your goals and objectives because they are investors themselves, and they have the knowledge and expertise to help you find positive cash-flowing properties that meet your criteria.
A real estate agent that sells Toronto condos as there specialty is not the right person when dealing with a property those houses units to be rented. The same can be said for the Realtor who sells many single family homes a year, does not make them a specialist with investment properties.
First-time or would-be investors sometimes try to make purchasing decisions based on advice from friends or relatives, what they hear or read in the media, or other information that doesn’t always make for the best choices. A tip from your Uncle Fred or friendly community butcher isn’t going to cut it (pardon the pun) for you in terms of unearthing real investment opportunities. It's critical to learn from a specialist, someone who also invests in the same product that you as a buyer are about to.
Selecting neighborhoods and properties to invest in requires looking for very specific trends and developments; having systems and knowledge in these areas is very critical. The latest trends suggest that The Annex, Little Italy Palmerston, Liberty Village and High Park are great west Toronto neighborhoods to invest in. This is where prospective tenants want to live at the moment - give people what they want and you will prosper.
A great investment Realtor will know the latest trends in the specific neighborhoods that the buyer is interested in and will be able to advise on vacancy rates with any particular neighborhood. Rental rates as well and the types of personalities that the neighborhood will attract, these are all important questions that must be answered prior to any buyer pulling the trigger.
Interview agents by asking the right questions and Google them, always Google them and do your due diligence prior to signing on the dotted line. I will be writing an article explaining which questions to ask your Realtor soon!