One of the most important things to do when purchasing a home is to find a great real estate agent to make the process flow smoothly and effectively.  A question many people ponder is how to find a good real estate agent.  The best agent may not necessarily work at one of the top ten agencies in the area.  The agent who will work best for you would be an experienced agent who will listen to your needs, act in a professional and ethical manner and knows the market in your area.

1.)Word-of-Mouth or Referral
Most real estate professionals attract a sizable amount of business because of a satisfied client who recommends them to a friend, family member or neighbour.  When you are thinking of purchasing a home, it is a good idea to ask those around you who they have used and ask them to elaborate on their specific experience with the real estate agent in question.  Successful real estate agents strive to make customer satisfaction their number one priority and will do everything they can to facilitate a good experience for a customer.  Try to find an agent that has a proven track record and reputation for delivering quality service, customer satisfaction, and have experience in the neighbourhoods that you are looking in.

2.) Do an Online Search For Real Estate Agents
There are many online resources available when searching for a real estate agent referral, but this by no means ensures quality.  The agents referred online may have paid a fee to the website owner to be listed in the directory.  Performing a Google search of the top agents in your area and then reviewing their websites will give you a good list of agents to interview.  Agents who have experience in the field will tell you, but a newer agent will more than likely have the extra time to spend working with you.  Review any customer testimonials or feedback about an agent you may be interested in retaining.

3.) Visit Open Houses in the Area
You should visit some area open houses where you can actually meet with a potential agent in a non-threatening manner.  Here you can see how they work, collect business cards, formulate an opinion and talk with them on a personal basis.  If you are thinking about selling a home, pay close attention to how the agent presents the home.  Make sure the agent is polite, informative, approachable and professional.  Does the agent promote the home by handing out professional looking feature sheets or other related materials?  Is the agent trying to play up the features that make the home more enticing?  Or is the agent in the corner, back turned and uninvolved in the whole scenario?  

4.) Pay Attention to Real Estate Signs
Carefully monitor the real estate signs in your neighbourhood.  Observe how long from the day they go up until the home is actually sold.  An agent who has a high sales turnover might be a better choice than an agent who has lots of for sale signs but few sold signs.  An agent who gets results is what you want.

5.) Why Agents Use Printed Advertising
There are two main reasons real estate agents use printed advertisement.  First is to advertise and sell a specific piece of real estate.  Secondly, advertising is used to promote the agent handling the transaction.  By checking the local Sunday real estate ads in your neighbourhood and then checking the agents website, you can find the agents who may specialize in your particular neighbourhood.  Contact the agent and inquire about their expertise and ask any other relative questions you may have.

6.) Seeking Recommendations from Other Real Estate Professionals
Ask around and seek out other real estate agents for a referral.  Most agents are happy to refer a buyer or seller to another associate, if the service you require is not a specialty they can provide.  Some agents only specialize in resale property, while others work predominantly with the sale of new homes.  Other agents work exclusively with commercial or investment properties.  Mortgage brokers are a great resource for agent referrals; many brokers have first-hand knowledge and can point you in the direction of a top-quality real estate agent and remember professionals tend to refer like-minded peers. There is also typically a referral fee involved for the referring professional so be careful that they refer you to the best Agent not the one that pays the highest referral fee.

In real estate negotiations it is typically the agent that handles the face to face negotiation. It is however useful as the client to understand some different negotiation techniques so that you can discuss, in an informed manner, the approach your agent takes. Outlined below are 12 different real estate negotiation techniques:

1. Listen to your real estate agent.

In the past six months your agent has probably done more real estate deals than you will in your life time. Listen to their advice and leverage their past experiences.

2. Be ready to give and take.

You have to be willing to give and take in any negotiation. Before your negotiation list out the items/terms you are flexible on and those that you are not. Be prepared to give in on your flexible items if it means getting the items/terms that are most important to you.

3. Be realistic.

During negotiations be realistic, keep your end goal in mind. You may have to pay a little more to get the house you want. But If you consider it realistically, how will an extra few thousand impact your monthly mortgage payment? Most likely the affect will be negligible.

4. Leverage your real estate agent.

Your agent will most likely be objective through this process, when your emotions get high look to your agent for their advice.

5. Do not low ball.

Low balling leads to either an immediate, equally unrealistic sign back or they will just ignore it. It will also most likely insult the vendor and set the negotiation off on a bad note. There is one exception to this rule, and that is if the property is legitimately overpriced.

6. Find out why they are selling.

The more information you have the better the situation you will be in.

7. When should you send in your offer?

As soon as you have made your decision get the offer in or it might be too late

8. How short should the irrevocable period be?

The shorter the irrevocable period the better, as long as it does not put undue pressure on the vendor. The shorter the period the less time the vendor’s agent has to find other last minute offers.

9. Do your research and be reasonable.

Calculate the value of the property by reviewing other comparable sales. Make a fair offer, and be realistic. This will put you in a much stronger negotiation position. Be prepared to walk rather than let your emotions take over your reason.

10. Walk a mile in the Vendors shoes.

Review the offer as if you are the vendor and consider how you would react to the offer.

11. Get the vendor to respond in writing.

Oral commitments are not recognized as binding by the law in Ontario. They must be in writing.

12. Has the house been sitting on the market?

The longer the house has been on the market the stronger your negotiation position. But if the right house comes onto the market do not wait to submit an offer just because you may have a stronger position if you wait a few weeks. It most likely will be too late.

With the global economic crunch, willing buyers of Toronto real estate need to be armed with the right information and tips that will enable them to soar above hardships and get the most out of their investments. The market for property in Toronto has not been severely affected as witnessed in other markets such as the United States. For this reason, investors or buyers are still riding on the strong economy of Canada and are willing to go to great lengths to make sure they own real estate in Toronto. With such willing buyers, it becomes necessary to know some of the things that may facilitate a successful buying process.

The first tip for buyers of Toronto real estate is to have a good understanding of the mortgage market of the city. Foreign investors are especially advised to really take some time and learn how things work. Canadians are also advised to learn what goes on in the real estate market prior to investing. It is this information that will come in handy when the time comes to make major decisions. Talking to various lenders as well as sourcing for information on the Internet will ensure that investors both local and foreign have a good command on how mortgages work.

A good tip for first-time buyers of is to ask for references from friends and family. Chances are that they will have dealt with good lenders before. As a buyer, make a habit of asking questions. This is the only sure way to get all the answers you need. If something does not make sense to you, make sure to ask for clarification. Do not assume anything because there is great danger in doing so. Toronto is a hub of great investors and you should easily find all the answers you need. In many instances, a buyer will get an attorney to make sure that everything is clear and legal.

Another great tip is to have an independent appraiser come and assess the home before you buy it.  When he comes to carry out the valuation of your real estate in Toronto there are various aspects to be considered.  These will include how the house is built, its architecture, unique features and what amenities and infrastructure are located close buy.  He will also assess the roof, floor and electrical wiring of your new property.  All this information will be compiled in order to come up with the true value of the home.

Finally, it is always good for a buyer to save their money. Most lenders will ask that the buyer have a down payment of at least 20% of the buying price.  Saving for additional costs will further prove to be a wise decision in the future and this should be kept as a priority. Be sure of your credit abilities before investing in Toronto. With these few tips, there is no reason why you should not invest successfully.