I know that I haven't been posting a lot of more serious articles for the average purchaser or seller lately, and it's mostly because with the market the way it is, I haven't seen anything particularly new or interesting that dictates an article. Instead, I've been looking for inspiration elsewhere. While I patiently await to see if my last post shows any readership, I might as well post something more serious, even if it hasn't been confirmed that someone is actually out there reading it.

While awaiting the results of my last post, I began to browse the MLS listings to see what was available in Toronto. There were many properties available, but I noticed that several agents held the majority of listings for certain areas. I started to wonder if it was a good idea for purchasers or sellers to engage these agents because of their presence in the area.

On one hand, a busy agent shows that s/he is familiar with the area and can give you a good idea of what to spend or what to expect to get on a sale. Similarly, one might infer that the agent would not be able to develop such a large client base if it were not for positive results and great exposure to the target market. On the other hand, a busy agent may be too busy with existing clients to focus on your matter. Similarly, s/he may push properties being sold by existing clients to you if you are purchasing. If you are selling, the agent may push other properties before yours. Given that there is only so much time in a day, the agent can only do so many showings, and your matter may get lost in the shuffle.

It's similar to the problem that I have mentioned before with other lawyers who are too busy. The difference is that while some lawyers may just consider your matter to be administrative, an agent does not have that luxury. A busy lawyer may delegate a matter in its entirety to a clerk or assistant, but a real estate agent cannot. The agent must remain active in selling or scouting properties with the client and cannot simply pass it off to an employee.

I don't believe that there is an easy answer to this question. A busy agent does have the exposure, but the not-so-busy agent has the time. The problem is that if a representation or listing agreement is signed, it can bind you to the agent for several months, and trying to go around it could cost thousands of dollars. At least if you don't get along with the lawyer, the cost is usually only a few hundred dollars to transfer your file out. It's a difficult decision, but I think that before engaging an agent that you use the same strategies as you would when choosing a lawyer.

        

 

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