Whether you’re a buyer, seller, or investor in today’s market, finding a top Toronto real estate agent to help you achieve your goals is step number one. However, in a market as large as Toronto’s, that’s easier said than done.
At any given time it’s more than likely there’ll be a plethora of agents in Toronto eager to take you on as a client, and knowing which one will earn you the best results can feel overwhelming. Our advice? Start your search by looking for an agent with neighbourhood expertise.
In our opinion, receiving professional real estate guidance from an agent with neighbourhood expertise in your particular area can be one of the biggest differentiators when it comes to the success of your purchase or sale.
To learn more about why we believe neighbourhood expertise is so important, our guide below is here to detail the biggest factors.
Local Market Knowledge
Whether you’re buying or selling in a particular micro-market, having a real estate agent with local neighbourhood expertise to help you gives you a serious advantage over someone not as familiar with the community.
When an agent is an expert in a particular neighbourhood, it extends far beyond just knowing the best shops and restaurants in the community. It means that they’ve worked with the local inventory, seen inside the houses, studied the current and historical data — all of which contribute to preparations, pricing, and negotiations.
Working with an agent that has neighbourhood expertise in a certain part of town means you won’t be taken by surprise by anything as your agent should already be well versed with the idiosyncrasies of the local market.
Network Of Connections
By working in one particular neighbourhood for an extended period of time also affords agents the opportunity to network and build connections there.
If your agent has neighbourhood expertise in one particular area, it means they will have worked with other agents that also maintain a reputation in that community. It also means your agent will regularly speak to and consult with other local residents and business owners who interact with the community regularly too.
This way, your agent will always be kept up-to-speed with every news story and development relevant to the local market and will be able to use that to your advantage.
Buyers’ Best Friend
If you’re looking to buy a home in a particular area, hiring an agent with comprehensive neighbourhood expertise will open a lot more doors for you.
If your agent is a local expert in your desired area, they’ll most likely be able to show you exclusive listings that either haven’t hit the market yet or won’t get publicly listed at all via their local connections.
Additionally, it means your agent will be able to advise you about potential upcoming listings that spread through word-of-mouth or advise you to stay away from certain parts or problem houses of your desired neighbourhood.
Seller’s Sage Advice
If you want to sell a home in a specific area, finding a listing agent with neighbourhood expertise in your home’s community is ideal too. A neighbourhood expert will have an intrinsic sense of local market activity and will know when it’s best to list your home for maximum bottom-line results.
Additionally, your agent will be an expert on what types of buyers are trying to break into your local market, and how to help you prepare and position your home to best suit their needs. An agent with neighbourhood expertise will optimize your home to cater to its ideal buyer demographic, from staging to marketing and through to closing.
Investment Future Planning
When buying or investing in real estate within a certain community, an agent with neighbourhood expertise will also have a greater understanding of the long-term investment value of your purchase.
Through regular market reports, data analysis, and day-to-day experience working in a particular area, your agent with neighbourhood expertise will be able to provide you with accurate projections about the incremental increases you can expect your property value to experience.
For that same reason, an agent with neighbourhood expertise will also be able to let you know if a property has been listed too far above market value and is no longer a sound long-term investment.
Do you need some assistance finding an agent with neighbourhood expertise in your particular community? Our team of experienced agents know West Toronto like the backs of our hands and can share our local market knowledge with you. To set up a consultation with a member of our team, contact us here today.