Your task as a real estate agent or salesperson is to make the process of property buying and selling simple and quick for your clients. To be successful in this dynamic industry, in Ontario, you need to keep your information systems updated, your listing information accurate and closing transactions on track.
In case there is a building, the year in which it was constructed should also be mentioned. If a property is to be given on lease, a copy of lease agreement and it terms must be a part of real estate package.
As a real estate agent or salesperson in Ontario, you have to put in a lot of effort to prepare valuable real estate investment packages for your clients.
To prepare good quality listings, you would:
Your Real estate investment package must also have a comparative market analysis. A comparative market analysis (known as CMA) is a property analysis that you as a real estate agent will use to help sellers and buyers determine the market value of real estate. You will have to prepare a real estate CMA by comparing the property that you wish to set the price, called the subject property, with three or four similar properties that were sold in the recent past in areas near the subject property.
It is important to use the actual sale price of sold properties when doing a CMA. This is the data that an appraiser will also use when a potential buyer is looking for a loan. However, property does not sell as per the prices of sold properties alone - supply and demand is also a crucial factor. In a rising real estate market, the supply and demand factors will make listing prices more important.
Your CMA should be presented ahead of time but should be shown to clients only when you have developed a rapport with them. Showing it to a property seller before they are acquainted with you as a real estate agent can be an immediate turnoff. What's more, if you prepared CMA with sketchy knowledge of the property, the pricing might have to be adjusted. The information required to compile an accurate CMA for clients is a skill that you will develop over time.
When sellers and buyers approach you to help with their property deals, they expect you to have an excellent knowledge of the market and the skill to get the deal closed in least amount of time – this becomes largely possible when you have an effective real estate package containing ‘essential to know’ and ‘good to know’ information for your clients.
For further discussion on real estate investment package, visit:
The main educator in Ontario and the governing body that certifies you to become a Real Estate Agent in Ontario has a website, OREA, which offers information and courses about How to get started in Real Estate in Ontario! You may read more about how to become a real estate agent
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