Did you know that in almost all matters related to real estate in Canada, you can do everything yourself (well, except perhaps for the legal closing of a deal), without any obligation to work with a realtor? You can sell or buy on your own — and when it comes to renting, it seems even more natural to handle everything by yourself.
Come on, you can’t figure out the details of a rental on your own?
It’s not rocket science, right?
That’s all true — but there’s one nuance.
Actually, more than one.
Let’s take a look at what you should pay attention to when searching for a rental, how a realtor can help in this process, and what might be better to do on your own.
1. Searching for rentals on your own doesn’t make the process any cheaper or more beneficial for you, since you don’t pay the realtor — the landlord does. There’s simply no financial reason to do it yourself, as it won’t cost you less.
2. From experience, a realtor can tell you what’s good or bad about a particular property. Nobody forces you to follow their advice — you’ll make your own decisions — but hearing another opinion can be valuable, right? Of course, if a realtor pushes their opinion too aggressively and you don’t like that kind of pressure, just find another professional who knows how to be less intrusive. No big deal.
3. A realtor usually has experience with rental transactions from both sides — the landlord and the tenant — and understands how to present a tenant’s situation so the landlord doesn’t immediately see red flags. You probably know that in Ontario it can be quite difficult to evict a problematic tenant, so landlords tend to be very picky. Are you sure you can navigate all the hidden pitfalls and convince a landlord that you’re the perfect tenant they’ve been looking for? If you’re confident you can handle it more effectively yourself — then by all means, do it.
4. It’s also very important, I think, to understand how you look compared to other applicants. Be honest: do you see clearly how your employment, income, family situation, etc., can be presented as part of your negotiation strategy? What’s worth proudly highlighting right away, and what’s better to keep low-key? Someone with experience can give you useful advice on that too.
5. Realtors have access to data about previous rental deals for similar properties in the area, which helps them estimate realistic prices and conditions — and understand how much room there is for negotiation. Are you aware, for instance, why prices in one building might be lower than in the one across the street? And if there’s a reason, would that reason matter to you personally?
6. Since realtors usually earn quite little on rentals, many landlord agents tend to respond, let’s say, diplomatically or with slightly less enthusiasm to inquiries from clients without a realtor — because they’ll have to verify the client’s financial situation, employment, etc., on their own. But when a potential tenant comes with a realtor, it signals seriousness: if a realtor agreed to work with this client, it means the basics (job, proof of income, credit score) are already in acceptable shape.
7. However, not all rental listings are on MLS (the realtor system). Some are listed on Facebook, Kijiji, Airbnb, or other platforms. Some are posted directly on the websites of property management companies that own multi-unit buildings — these aren’t part of any shared database. This is where you have the freedom to search on your own — here, a realtor’s help is limited to friendly general advice.
So, what’s the bottom line?
The question “Do you need a realtor to find a rental?” is definitely debatable. In general, yes, you can do everything on your own. Would you manage without a realtor?
But if you’d still like to hear an independent opinion (and make your own conclusion) — my contact details are below. I’ll be happy to hear from you.
Serge Skyba
Realtor® at Realty 7 Ltd, Brokerage
416-305-6525
serge@agent1.ca
