August 2019

Found 7 blog entries for August 2019.

1.  Your REALTOR®is going to do the same amount of work

Assuming you pick a REALTOR® that uses a rigorous process to market and sell your home, they are going to spend about the same amount of time and money to promote your home compared to other clients. If your home is selling for a higher value than most homes in your market, why should you pay a percentage and therefore MORE than other home sellers?

2.  It’s a conflict of interest

In most cases a traditional percentage-based REALTOR® will offer half of their commission to buyers REALTORS®. This is a clear conflict of interest. The buyers REALTOR® works for the buyer. If the buyer’s agent demands to be paid a percentage you would be wise to question the ethics of the situation. What this

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We had a client leave us this week. I’m always disappointed when this happens. Let’s call them Mr. and Mrs. B. They are such lovely people and we really enjoyed working with them. Unfortunately, Mr. B had reached a place in his mind where he could no longer receive coaching or analyze the evidence of market conditions that we shared with him. He’s acting from the heart not the mind.

The issue starts with his historical connection to the home. When the family came over to Canada from the ‘old country’ his father built the home. Over the years he had converted it into several basic but perfectly serviceable rental units. The home has been in the family since the 1950’s and he loves it with all of his heart. To him its worth $500,000.

The market

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Ask most home buyers who pays the real estate commission after a sale has concluded and they will likely answer that the seller pays. Hence, they believe that the buyer brokerage service they receive is free of charge.

Ask most home sellers who pays the commission and they will say that they do. After all when they sign a mandate to list their home for sale with a REALTOR® the commission is written right into the agreement. This I would argue is a proposed charge on the transaction and that’s it.

I would like to offer an alternative view.

Most residential real estate transactions involves 4 parties.

A seller plus their REALTOR®.

A buyer plus their REALTOR®

But who brings what, to the metaphorical deal table?

The sellers bring a

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If you have been thinking about buying a home in the metro Edmonton area this could be the time to do it.

Here are 5 reasons why you might want to buy a home soon:

1.  New lending rules

Starting September 2nd, the federal government is launching a new program designed to encourage first time home buyers to enter the market (First Time Home Buyer Incentive see details here). Essentially the government is going to partner with new home buyers to help them create a down payment. This program applies to buyers with a joint income of less than $120,000 a year. In the metro Edmonton market this applies to most of us.

If you choose to use this program your budget has just increased considerably meaning you could buy a much nicer home.

2. 

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If you have had your home for sale during the summer months and not sold, it’s tempting to think about giving up. We would encourage you to stay the course. Giving up now is quite likely the wrong thing to do.

Here are 5 reasons why you should stay in the market:

1.  There is so much more life left in the market

Based on last year’s numbers, almost 4,000 homes and condos will sell before the end of the year (not including outlying areas like Sherwood Park and St Albert). This represents around 35% of ALL homes and condos sold during the year.

2.  Less competition

September is when many home sellers leave the market. Mistakenly, they assume it’s the thing to do. If you stay in the market, you will have far less competition than you

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