All Blog Entries by Stuart Neal

Found 82 blog entries published by Stuart Neal.

Situation

Ryan purchased the home privately just a few years ago without the assistance and advice of a REALTOR®. As a result, perhaps he paid more than he should have. Therefore, when it came to selling, Ryan needed the best REALTOR® program he could find for the lowest reasonable fee.

The flat fee program offered by Ambergate Realty Advisors offered Ryan all that he was looking for.

Result

We spent some time advising Ryan on home staging and presentation tips. After he had finished the program the home looked amazing. We advertised the home for sale widely and especially on Facebook. We also used directional signage off the busy arterial road that makes its way through Highlands ie 112th Ave.

After a reasonable period of time we found

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Situation

Maya & Petar purchased this home in The Hamptons just a few years ago & due to market pressure at that time, they paid much more than they were comfortable with. A change in family circumstances meant that they needed to sell the home quickly & protect their equity as much as possible. Their first decision was to list with a pure discounter i.e. 2% Realty. Unfortunately for Maya & Petar this did not go well. They reported that the service was very limited & advertising was restricted to just a For Sale sign & an MLS® listing. There were no Open Houses offered, no social media marketing & little in the way of feedback.

Maya & Petar realized they needed a different approach. They wanted to hire a full-service REALTOR®. However, they also

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In August, Edmonton homes sales prices increased to a level ABOVE last year.

Average sales prices in August 2019 was $372,761 compared to $371,381 in 2018 and $375,099 in 2017.

Is this the start of a longer-term trend? Its possible. Excess inventory that plagued our market for some time has disappeared.

September is an excellent month to put a home on the market. Read this blog post for more encouraging information: 5 Reasons You Should Sell Your Home in September

About the author:

You can read more about the author of this blog by clicking this link – Stuart Neal Broker Owner & REALTOR®.

Want more information about our lower cost FLAT FEE home selling programs? Please feel free to call our broker owner Stuart Neal at: 780-760-2014

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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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Summary:

The number of condos sold this year was about the same as in the second quarter 2019. However, most units were selling at a 5% discount. Discounts are getting less and should continue to shrink as inventory levels come down.

Numbers Sold:

In total, around 1065 condos sold in Edmonton during the first quarter of 2019. This compares favorably with last year when 1090 condo sold. This is about the same as last year and suggests continuing strong demand. Overall the difference is less than 30 units and should not be a concern for condo sellers.

Sales Values:

For the second quarter condo homes continued to trade at a discount when compared to last year. Most condo units sold for about 5% LESS than last year, equal to an

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Summary:

The market seems to be strengthening in favour of sellers. Discounts are less than 3 months ago. Sales volume is about the same as last year and inventory volume is down.

Numbers Sold:

In total, around 2700 single family homes sold in Edmonton during the second quarter of 2019. This compares favorably with last year when only around 2600 homes sold. Just over 100 MORE homes sold this year compared to last year. Confidence in the Edmonton market remains strong. 

Sales Values:

Sellers continue to be pushed for discounts by aggressive buyers. Single family homes sold on average for almost $13,000 LESS than in quarter 2 of last year. This amounts to a discount of about 3%. Compared to the first quarter where the discount

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