Perhaps you have decided to sell your starter home, or perhaps, you are finally able to purchase that picture-perfect cottage on the shores of Lake Ontario. However, you do not know where to begin. Buying and selling property can be an overwhelming experience even to someone well-versed in the real estate market. For first-time buyers and sellers, it can appear to be an insurmountable feat. From MLS listing services to property law, real estate can be a complex process. An option of going the private route exists, however, a real estate brokerage can help simplify and streamline the details of this undertaking.
As Canada’s largest and most populous city, Toronto is the ideal place to buy and sell property. Toronto is known for its vibrant nightlife, professional sports teams, world-class museums and art galleries, international film and food festivals, a growing gastronomic scene, and world-class shopping.
More importantly, Toronto is home to a variety of real estate brokerages.
Toronto Real Estate
Many Toronto locations are considered prime real estate, including the waterfront along Lakeshore Boulevard West, and the beautiful Riverdale area concentrated around Dundas and Broadview. In addition, areas such as Forest Hill and Rosedale offer tranquil surroundings with easy access to the downtown core. Up and coming areas include Parkdale just west of downtown and Mimico, the west end’s lakefront neighbourhood. Depending on your preferences and budget, Toronto has options for all purchasers. For sellers, there will never be a shortage of willing buyers.
Toronto Real Estate Broker Locations
As the largest city in Canada, Toronto offers a vast variety of real estate’s brokerages to choose from. In addition, the surrounding Greater Toronto Area (GTA) has a great deal of options as well.
A quick Google search reveals a great deal of brokerages conveniently situated near Toronto’s Harbour, in close proximity to Billy Bishop Airport. This is a perfect location for both locals and out-of-town visitors for viewing real estate. Offices are located near Lakeshore Boulevard West and Spadina Avenue with easy access to the Gardiner Expressway. Nearby Union Station offers transportation links all over the city, province, and country as well. Several well-known hotels are also located in the area.
For clients located further north, there is a concentration of real estate brokerages in the Forest Hill, Rosedale, and Leaside neighbourhoods. In the west end, brokerages in Mimico and Junction area serve clients, while in the east end, offices are located in Riverdale, The Beaches, O’Connor-Parkview, and the Scarborough Bluffs areas.
What is a Real Estate Brokerage?
According to the Ontario Real Estate Association (OREA) “brokerage is a corporation, partnership, or sole proprietorship authorized to trade in real estate on behalf of others.”
In simpler terms, brokerages employ agents and brokers to perform real estate listing and selling. This is done under the supervision of a broker on record, who ensures brokerages comply with the Real Estate Business and Brokers Act, 2002 (REBBA).
What to Look for in a Real Estate Broker
Real estate brokers either work independently or under a group of real estate brokers. Real estate salespeople must have been a licensed agent for a minimum of two years and undergo further training to become a broker. All reputable real estate brokerages much be registered with the Real Estate Council of Ontario (RECO.) In addition, anyone employed in Ontario real estate, such as agents and brokers, must be registered under REBBA as well. The Real Estate Professional Search page allows you to verify if someone is registered and in good standing. This is also where you go in the event that you need to file a complaint. Following these guidelines will protect your interests as a buyer or seller.
Benefits of a Real Estate Broker
Real estate brokers offer buyers and sellers the advantage of their education and ongoing professional development. They are experienced negotiators who provide these services on a daily basis. Brokers are knowledgeable about real estate law and can smooth out any complications that may arise. Finally, their access to a network of other agents is an added benefit. Who best to offer knowledge than an expert in the field?
For Sale By Owner (FSBO) can be a very difficult process as the general public often does not have real estate expertise. To list your property on MLS, you need an agent or brokerage. Most importantly, real estate brokers also have to be insured. RECO’s consumer deposit insurance program ensures that your deposit is protected. Although there are many ways to buy or sell property in Toronto, working with a licensed real estate broker is will make the process much smoother.