Dear Seller, What Are Your Chances Against This List?
There are currently 58,094 licensed real estate agents on the Toronto Regional Real Estate Board. That’s not all of Ontario, it’s just the GTA.
I tried to find out how many agents are licensed in New York City and the closest number I could find was around 50,000 but that’s a City of 8.2 million compared to Toronto at around 6.2 million residents in the GTA.
I know people in the un-real-estate-world could probably care less about “stats” and I admit they can bore people pretty quickly. Usually these stats only matter to us, the practitioners however there is one that should amaze everyone because it makes you ask “Why!” And when you have to ask why, you know you’re headed down the rabbit hole of hard-to-find answers. Here it is:
35% of all licensed agents in the GTA didn’t sell anything in 2020!
That’s not due to COVID. That number repeats year in and year out. 20,332 people have that license, yet didn’t use it! How does that bode for the poor schmuck who wants to sell his home?
It gets worse. 79% of all licensed agents last year sold 5 or less homes. Selling 5 homes means you rolled out of bed every 2.5 months and somehow sold a home. I call this part-time work. You can’t support yourself, much less your loved ones on this amount of production. What’s more, your skill-sets are going to be rusty because you’re not using them frequently. Even a top musician must constantly practice to maintain their skills. You probably don’t take many new courses to upgrade your skills, or engage in coaching or attend conventions & workshops because… this all costs money.
45,894 licensed agents in the GTA only occasionally sell a home.
Do you want to go to the surgeon that performs 5 or less surgeries per year? We’re currently in a Seller’s Market where it can look easy to sell a home. But it’s never a question of whether the property will sell, it’s a question of for how much and what, if anything, was left on the table. In rural areas, it’s also a question of wells, septic tanks & beds, holding tanks, set-backs, land use etc. and there’s much more involved in protecting your client than might be true with an in-town property on services.
With our team at Williams & Follows, we sell between 40 & 60 properties a year. We’d like to get that to 100-120 but it takes time and perseverance! It does mean, however, that we’re negotiating a lot, day after day. We’re also encountering a lot of different situations, problems, needs and finding solutions on a consistent basis. We’re weathered yet we never stand still. Constant upgrading and learning is vital to us because the world doesn’t stand still either. Two of our members recently completed a course that consisted of 30 hours of focused negotiating, costing upward of $3,000. It’s important to us because your home is important to you. Your home may put your kids through college or fund your retirement. It’s a big deal!
On one of our local community bulletin boards people were recently complaining about a person who was going door to door, looking for people to sell their homes. He was described as forceful in his approach and unprofessional when turned away. He didn’t properly identify himself or show ID. Was he even a licensed Realtor? This type of approach is scary so here are some tips to hiring a Realtor:
1.Hire someone you know. This isn’t a guarantee but it may put the odds in your favour.
2.Hire someone you Don’t know. Sometimes this is the better option, especially if you have several friends who are agents.
3.Have some key questions ready. (contact us for a list of really good questions you can ask)
4.Do your research. Check them out on the web and social media pages. See how they present their listings to the public.
5.Ask friends for referrals.
6.Ask the agent for referrals from past clients or check out their Google Reviews.
With a little bit of upfront work on your part, you can ensure you’ll choose an agent who will fulfill or go beyond your expectations and that means both more money in your pocket AND smooth sailing through your transaction.
Williams & Follows is a real estate team based in Port Perry and Oshawa, Ontario serving all of Durham Region, Northumberland County and parts of Kawartha Lakes. We practice safe distancing and can serve and consult with you via Zoom or Google Meet. We are active on all major media platforms. If you need real estate information, why not reach out? We’d be happy to speak with you! Call today at 905-442-5847 or email Lisa@williamsandfollows.com.
Note: 2020 Real Estate Stats provided by TRREB.
“1% - Williams & Follows is in the Top 1% of all agents in the Toronto Regional Real Estate Board. We sell more homes than 99% of all licensed agents in the GTA. That means more experience, more negotiating, more staging, more advertising and more expertise to get the absolute best price for you when selling your home.”