Whether you’re looking to buy or sell a home, external market conditions will impact how you’re able to reach your goals. These conditions could be positive, negative, or somewhere in between. Ultimately, it’s your agent’s job to help you navigate these circumstances in a way that maximizes your chances of success.
However, real estate dynamics can be complex and market trends will change depending on where you are. With that in mind, when it comes time to hire a real estate agent, you should choose someone who is local to your area.
Real Estate is More Local Than You Think
When it comes to real estate, market conditions can flip on a dime based on location – right down to a specific neighbourhood or even street. These specific location-based markets are sometimes known as ‘micro markets’.
Toronto is a great example of this. As a city with a rich character and history, every neighbourhood has something unique to offer, which in turn influences who is looking to buy or sell a home there. So while one neighbourhood could be experiencing a distinct buyer’s or seller’s market, the community next door could see something entirely different.
Need more home-buying tips? We’ve got plenty of other blog posts for you to explore.
- How Long Should You Plan Ahead Before Buying a Home?
- Can You Buy a Home Without an Agent?
- The Costs of Moving & How to Make it More Budget Friendly
The Value of Local Knowledge
You’ll often hear about happenings in Toronto’s real estate market on the news. However, these types of reports often speak about the city as a whole, rather than covering its micro markets. So, because what’s covered in the media are usually just city-wide high-level trends, they aren’t always relevant or helpful for everyone. The same thing applies to real estate agents – you’ll want to work with a professional who has the most relevant knowledge and experience possible.
Thinking Local as a Buyer
Buying a home is no small process. Not only is it a major commitment from a lifestyle perspective, but it’s also one of the most significant investments that you’ll make in your lifetime. With that in mind, working with an experienced local real estate agent will be essential to your success as a buyer.
When you partner with an agent who is local to where you want to move, you gain access to insider knowledge that will help you find the right home based on your unique needs. Whether you have a community in mind or more of a general idea of what you’re looking for, a local agent can provide insights into what area will suit you best. For instance, they know which neighbourhoods are up-and-coming, which have the best schools, and which offer the amenities that best align with your needs and preferences.
About to list your home for sale? Read these blogs first for helpful insights!
- How to Prepare For Your First Home Sale
- Why You Should Choose Your Asking Price Wisely
- Do You Need to Renovate Before Selling Your Home?
Why Sellers Should Choose a Local Agent
On the other hand, if you’re looking to sell your home, you’ll also benefit immensely from choosing to work with an agent who specializes in your home’s micro market. As an industry professional who’s not just deeply familiar with the homes in your neighbourhood but also what incoming buyers are looking for, they’ll have critical insights to help you prepare and position your property for maximum appeal – and maximum results.
Hyper-local expertise is especially important when it comes to selecting an asking price. Rather than looking at broader market conditions, your pricing strategy should be fine-tuned to the trends of your area. Only a local agent will have the knowledge to help you make the most informed decision.
Buying or Selling in Ontario? Work With Us
While we serve clients in markets all across Ontario, our agents always focus on their communities of expertise. This ensures you have access to the best insider information and market insights to support your real estate goals.
Whether you’re looking to buy a home, sell one, or both, Bosley Real Estate’s refined services, robust network and industry prowess give you an unparalleled advantage in the marketplace.
Ready to buy, sell, or both? Bosley Real Estate can guide you through a smooth transition to your next home. Give us a call at 416-322-8000 or email info@bosleyrealestate.com to get in touch.
The Bosley Advantage
Read about the heritage and innovation that form the foundation for Bosley’s industry-leading approach to real estate.
