RSS

Buying or selling a home in today's market requires a lot of work and a lot of knowledge about sales and real estate.  It's one of the largest purchases or biggest business transactions many of us will ever make.  It doesn't pay to depend on blind luck.

Whether you are a buyer or a seller, there are distinct advantages to using a Realtor.  A Realtor, is a licensed real estate professional who is a member of a local real estate board, as well as the Canadian Real Estate Association (CREA) and, in BC, the British Columbia Real Estate Association (BCREA).

This individual has the experience and qualifications needed to successfully conduct a purchase or sale.  In BC, you can expect strict adherence to provincial law and a  code of ethics. This ensures you receive the highest level of service, honesty and integrity.

If you are a buyer

In today's busy, complex world, purchasing a home can be a lot more time-consuming and complicated than other business transactions.  First-time buyers, especially, quickly discover that theres a lot more to buying real estate, than deciding what vacation to take or what car or suit to buy.

Using a Realtor from the start can provide you with the sound , effective advice and professional services you need to get the best deal possible.  Once a Realtor has a clear understanding of what you want and what you can afford, their knowledge can save you a lot of time looking at homes that aren't right for you.

A Realtor can pre-screen properties so that you should only have to visit a handful of homes to make an informed and wise selection.

Much of the early search with a Realtor can be done through the Multiple Listing Service (MLS) and preliminary discussions.  As you visit and react to each home you see, the realtor will have an increasingly better idea of what you want and don't want.

A Realtor will also be able to advise you on the various options available for financing a home and tell you when to bring in other experts such as a lender, home inspector, lawyer and insurance agent.

If you are a seller

Sometimes a seller will be tempted to sell their home on their own, believing it will save them the cost of the real estate commission.  But, selling a home is a very complex procedures, involving large sums of money, stringent legal requirements and the real potential for very costly mistakes.

Just as most of us lack the knowledge to do a major repair on the family car, most sellers lack the depth of knowledge, experience and amount of time needed to sell a home on our own.  A Realtor not only has the qualifications and expertise, but is committed to spending the time it takes to get the best deal possible.

Selecting a Realtor

Before you make a Realtor part of your team, it pays to shop around and sharpen up those interviewing skills.  The realtor you select should be someone who knows the neighborhood you live in or want to live in; who can provide you with sound, effective advice; and who has broad and current knowledge of today's real estate market.

Begin by identifying several candidates and interviewing at least two or three before making a final decision.  If you were pleased with the services provided by the Realtor who helped you make a previous sale or purchase, he or she may be your best choice.

Jot down the names and telephone numbers printed on "For Sale" signs you notice around the neighbourhood, in local real estate ads or publications.  Also, ask friends, family and business associates to recommend some names.

Interviewing Realtors

The realtor you select should be someone who shows genuine interest, knows the current real estate market and has a good track record in the sale and purchase of properties you're interested in.  This individual should make you feel comfortable and that they have your best interest in mind.

Be sure to get a resume and references and to ask questions such as:

  • How long have you and the firm been in business?  How many homes have you sold in the last six months?  How close were the sale prices to the asking prices? What price range of homes do you generally handle?
  • Do you provide multiple listing of your property through the Multiple Listing Service (MLS)?  (This service provides access to a much broader base of potential buyers.)
  • If selling: How will you market my property?  Will the marketing plan include an open house for other Realtors and regular open houses for prospective buyers,  advertising and flyers?  How did you establish the suggested selling price for this home?  Was my home compared to those sold recently in the neighborhood and to those currently on sale?  What tips and hints can you offer to make my  home show better.
  • What will using your service cost me?

If the Realtor looks enthusiastic about selling your home or helping you buy one, and appears confident in their ability, consider hiring them.  But first check their references or talk to people who have recently sold or purchased property through them.  Most people who have had a positive experience will be quick to express it.

Article Provided by: David Pusey Personal Real Estate Corporation

Source: OREA

Read

April 3, 2014

Okanagan-Shuswap Housing Market Bounces Back in March

Kelowna, BC –

The Okanagan Mainline Real Estate Board (OMREB) reported March sales activity of all MLS® property types was up 28% compared to the same month in 2013 – rallying after a pull-back in February.

"The Okanagan-Shuswap housing market bounced back during March from somewhat dampened results in February when sales were up 8% over 2013 compared to January’s 30% year-over-year gains," says Darcy Griffiths, OMREB President and active REALTOR® in the North Okanagan.

"During the past year, the local market has maintained a slow but steady upward trajectory and experienced a moderate recovery from the cyclically low sales levels at the start of 2013. While other BC markets have been on a downward trend for the past four months, all three OMREB zones have seen modest to strong improvement in sales for various property types. "

Griffiths adds, "It is encouraging to note that the board-wide demand for single family homes showed marked improvement during the month of March -- increasing by 40% year-over-year to 321 units from 231 in 2013 -- especially since sales of single family residences declined considerably in February compared to this time last year."

The North Okanagan saw a 73% year-over-year increase in single family home sales after a 20% decline in February, while the Shuswap reported a 48% improvement following a 13% drop, and the Central Okanagan posted a 26% gain over last year after a 5% dip the month before.

"Moving into spring, we are hopeful that activity will pick up as the weather improves and buyers are spurred by the drop in long-term mortgage rates," says Griffiths. "Considering that all aspects favour buyers, now is the time to get into the market while there is still a good selection of properties to choose from. Despite a declining inventory, prices remain stable with more balanced market conditions, and low interest rates continue to be available."

The competition for buyers can be a challenge for sellers so proper pricing remains critical, Griffiths maintains. "Market conscious and competitive home sellers are sharpening their pencils and seeing results. Being realistic about the market value of your home, setting an attractive list price right out of the gate and willing to negotiate for the best offer are the keys to a successful sale."

Sales activity tends to vary among property types zone-by-zone and month-by-month with ups and downs at different times and locations within OMREB’s three diverse market areas. It is important to look at prices within property types and sale price trends within different price points in order to fully understand the overall picture of the current residential market in our Board area.

Board-wide

(Peachland to Revelstoke):

Overall sales of all property types reported in OMREB’s Board area during March improved by 28.0% compared to 2013 -- to 621 units from 485. Total residential sales for the month rose 27% to 554 units board-wide compared to 436 last March -- up 79% compared to 309 last month (February 2014).

The 1,517 new listings taken board-wide for the month were down 6.8% compared to the 1,627 listings posted in March 2013, while inventory (active listings) was down 9.2% over this time last year – to 7,217 from 7,950.

Central Zone

(Peachland to Lake Country):

During March, overall sales in the Central Zone were up 22.9% to 403 units from 328 in 2013. Total residential sales for the month improved 20.8% to 360 units compared to 298 last year at this time. The sale of single family homes was up 26.0% over March 2013 (to 194 from 154), and days to sell dropped to 70 in March compared to 99 last year.

The 939 new listings taken in the Central Okanagan during the month saw a 3.7% dip compared to 975 in 2013, and total inventory was reduced by 10.5% to 3,864 units from 4,316 last March.

North Zone

(Predator Ridge to Enderby):

Overall sales for March in the North Zone improved 32.4% to 143 units compared to 108 units sold last year at this time. Total residential sales for the month were up 36.1% over last year with 132 units sold compared to 97. Single family home sales (90 units) were up 73.1% compared to March 2013 (52), and days to sell dipped to 117 days from 132 last year.

While the 363 new listings taken for the month were down 12.1% from the 2013 level of 413, inventory for March saw a 9.4% drop to 1,918 from 2,117 last year.
Shuswap Zone

(Salmon Arm to Revelstoke):

During March, overall unit sales in the Shuswap-Revelstoke Zone improved by 56.3% to 75 units compared to 48 in 2013. Total residential unit sales for the month were up 51.2% over last year at 62 units compared to 41. While the sale of single family homes jumped 48.0% over March 2013 (to 37 from 25), days to sell rose to 181 compared to 139 days last year at this time.

New listings taken in the Zone were down 9.8% compared to last March -- to 213 units from 236. Overall inventory dipped 5.4% to 1,428 from 1,510 during the same month in 2013.

How REALTORS® can help when buying or selling a home:

•BUYING OR SELLING – Home values vary based on type and location:

It is important to consult with a REALTOR® about how your property type is currently faring locally, and how it compares to similar listings in your particular neighbourhood.

•SELLING – Pricing is crucial when listing your home: Serious sellers recognize that their properties must be priced within the current market conditions. Homes that are priced well are the ones that are selling, as has been evident this year.

•NEGOTIATING – For a successful purchase and sale: The professional negotiation skills of a REALTOR® bring buyers and sellers together for a successful sale.

DISCLAIMER:

Monthly Sales statistics are based on the sales reported by real estate offices on or before the last day of the month. Sales not reported by month end and collapsed sales are reflected in the subsequent month’s statistics.

Read

April 3, 2014

Okanagan-Shuswap Housing Market Bounces Back in March

Kelowna, BC –

The Okanagan Mainline Real Estate Board (OMREB) reported March sales activity of all MLS® property types was up 28% compared to the same month in 2013 – rallying after a pull-back in February.

"The Okanagan-Shuswap housing market bounced back during March from somewhat dampened results in February when sales were up 8% over 2013 compared to January’s 30% year-over-year gains," says Darcy Griffiths, OMREB President and active REALTOR® in the North Okanagan.

"During the past year, the local market has maintained a slow but steady upward trajectory and experienced a moderate recovery from the cyclically low sales levels at the start of 2013. While other BC markets have been on a downward trend for the past four months, all three OMREB zones have seen modest to strong improvement in sales for various property types. "

Griffiths adds, "It is encouraging to note that the board-wide demand for single family homes showed marked improvement during the month of March -- increasing by 40% year-over-year to 321 units from 231 in 2013 -- especially since sales of single family residences declined considerably in February compared to this time last year."

The North Okanagan saw a 73% year-over-year increase in single family home sales after a 20% decline in February, while the Shuswap reported a 48% improvement following a 13% drop, and the Central Okanagan posted a 26% gain over last year after a 5% dip the month before.

"Moving into spring, we are hopeful that activity will pick up as the weather improves and buyers are spurred by the drop in long-term mortgage rates," says Griffiths. "Considering that all aspects favour buyers, now is the time to get into the market while there is still a good selection of properties to choose from. Despite a declining inventory, prices remain stable with more balanced market conditions, and low interest rates continue to be available."

The competition for buyers can be a challenge for sellers so proper pricing remains critical, Griffiths maintains. "Market conscious and competitive home sellers are sharpening their pencils and seeing results. Being realistic about the market value of your home, setting an attractive list price right out of the gate and willing to negotiate for the best offer are the keys to a successful sale."

Sales activity tends to vary among property types zone-by-zone and month-by-month with ups and downs at different times and locations within OMREB’s three diverse market areas. It is important to look at prices within property types and sale price trends within different price points in order to fully understand the overall picture of the current residential market in our Board area.

Board-wide

(Peachland to Revelstoke):

Overall sales of all property types reported in OMREB’s Board area during March improved by 28.0% compared to 2013 -- to 621 units from 485. Total residential sales for the month rose 27% to 554 units board-wide compared to 436 last March -- up 79% compared to 309 last month (February 2014).

The 1,517 new listings taken board-wide for the month were down 6.8% compared to the 1,627 listings posted in March 2013, while inventory (active listings) was down 9.2% over this time last year – to 7,217 from 7,950.

Central Zone

(Peachland to Lake Country):

During March, overall sales in the Central Zone were up 22.9% to 403 units from 328 in 2013. Total residential sales for the month improved 20.8% to 360 units compared to 298 last year at this time. The sale of single family homes was up 26.0% over March 2013 (to 194 from 154), and days to sell dropped to 70 in March compared to 99 last year.

The 939 new listings taken in the Central Okanagan during the month saw a 3.7% dip compared to 975 in 2013, and total inventory was reduced by 10.5% to 3,864 units from 4,316 last March.

North Zone

(Predator Ridge to Enderby):

Overall sales for March in the North Zone improved 32.4% to 143 units compared to 108 units sold last year at this time. Total residential sales for the month were up 36.1% over last year with 132 units sold compared to 97. Single family home sales (90 units) were up 73.1% compared to March 2013 (52), and days to sell dipped to 117 days from 132 last year.

While the 363 new listings taken for the month were down 12.1% from the 2013 level of 413, inventory for March saw a 9.4% drop to 1,918 from 2,117 last year.
Shuswap Zone

(Salmon Arm to Revelstoke):

During March, overall unit sales in the Shuswap-Revelstoke Zone improved by 56.3% to 75 units compared to 48 in 2013. Total residential unit sales for the month were up 51.2% over last year at 62 units compared to 41. While the sale of single family homes jumped 48.0% over March 2013 (to 37 from 25), days to sell rose to 181 compared to 139 days last year at this time.

New listings taken in the Zone were down 9.8% compared to last March -- to 213 units from 236. Overall inventory dipped 5.4% to 1,428 from 1,510 during the same month in 2013.

How REALTORS® can help when buying or selling a home:

•BUYING OR SELLING – Home values vary based on type and location:

It is important to consult with a REALTOR® about how your property type is currently faring locally, and how it compares to similar listings in your particular neighbourhood.

•SELLING – Pricing is crucial when listing your home: Serious sellers recognize that their properties must be priced within the current market conditions. Homes that are priced well are the ones that are selling, as has been evident this year.

•NEGOTIATING – For a successful purchase and sale: The professional negotiation skills of a REALTOR® bring buyers and sellers together for a successful sale.

DISCLAIMER:

Monthly Sales statistics are based on the sales reported by real estate offices on or before the last day of the month. Sales not reported by month end and collapsed sales are reflected in the subsequent month’s statistics.

Read

April 3, 2014

Okanagan-Shuswap Housing Market Bounces Back in March

Kelowna, BC –

The Okanagan Mainline Real Estate Board (OMREB) reported March sales activity of all MLS® property types was up 28% compared to the same month in 2013 – rallying after a pull-back in February.

"The Okanagan-Shuswap housing market bounced back during March from somewhat dampened results in February when sales were up 8% over 2013 compared to January’s 30% year-over-year gains," says Darcy Griffiths, OMREB President and active REALTOR® in the North Okanagan.

"During the past year, the local market has maintained a slow but steady upward trajectory and experienced a moderate recovery from the cyclically low sales levels at the start of 2013. While other BC markets have been on a downward trend for the past four months, all three OMREB zones have seen modest to strong improvement in sales for various property types. "

Griffiths adds, "It is encouraging to note that the board-wide demand for single family homes showed marked improvement during the month of March -- increasing by 40% year-over-year to 321 units from 231 in 2013 -- especially since sales of single family residences declined considerably in February compared to this time last year."

The North Okanagan saw a 73% year-over-year increase in single family home sales after a 20% decline in February, while the Shuswap reported a 48% improvement following a 13% drop, and the Central Okanagan posted a 26% gain over last year after a 5% dip the month before.

"Moving into spring, we are hopeful that activity will pick up as the weather improves and buyers are spurred by the drop in long-term mortgage rates," says Griffiths. "Considering that all aspects favour buyers, now is the time to get into the market while there is still a good selection of properties to choose from. Despite a declining inventory, prices remain stable with more balanced market conditions, and low interest rates continue to be available."

The competition for buyers can be a challenge for sellers so proper pricing remains critical, Griffiths maintains. "Market conscious and competitive home sellers are sharpening their pencils and seeing results. Being realistic about the market value of your home, setting an attractive list price right out of the gate and willing to negotiate for the best offer are the keys to a successful sale."

Sales activity tends to vary among property types zone-by-zone and month-by-month with ups and downs at different times and locations within OMREB’s three diverse market areas. It is important to look at prices within property types and sale price trends within different price points in order to fully understand the overall picture of the current residential market in our Board area.

Board-wide

(Peachland to Revelstoke):

Overall sales of all property types reported in OMREB’s Board area during March improved by 28.0% compared to 2013 -- to 621 units from 485. Total residential sales for the month rose 27% to 554 units board-wide compared to 436 last March -- up 79% compared to 309 last month (February 2014).

The 1,517 new listings taken board-wide for the month were down 6.8% compared to the 1,627 listings posted in March 2013, while inventory (active listings) was down 9.2% over this time last year – to 7,217 from 7,950.

Central Zone

(Peachland to Lake Country):

During March, overall sales in the Central Zone were up 22.9% to 403 units from 328 in 2013. Total residential sales for the month improved 20.8% to 360 units compared to 298 last year at this time. The sale of single family homes was up 26.0% over March 2013 (to 194 from 154), and days to sell dropped to 70 in March compared to 99 last year.

The 939 new listings taken in the Central Okanagan during the month saw a 3.7% dip compared to 975 in 2013, and total inventory was reduced by 10.5% to 3,864 units from 4,316 last March.

North Zone

(Predator Ridge to Enderby):

Overall sales for March in the North Zone improved 32.4% to 143 units compared to 108 units sold last year at this time. Total residential sales for the month were up 36.1% over last year with 132 units sold compared to 97. Single family home sales (90 units) were up 73.1% compared to March 2013 (52), and days to sell dipped to 117 days from 132 last year.

While the 363 new listings taken for the month were down 12.1% from the 2013 level of 413, inventory for March saw a 9.4% drop to 1,918 from 2,117 last year.
Shuswap Zone

(Salmon Arm to Revelstoke):

During March, overall unit sales in the Shuswap-Revelstoke Zone improved by 56.3% to 75 units compared to 48 in 2013. Total residential unit sales for the month were up 51.2% over last year at 62 units compared to 41. While the sale of single family homes jumped 48.0% over March 2013 (to 37 from 25), days to sell rose to 181 compared to 139 days last year at this time.

New listings taken in the Zone were down 9.8% compared to last March -- to 213 units from 236. Overall inventory dipped 5.4% to 1,428 from 1,510 during the same month in 2013.

How REALTORS® can help when buying or selling a home:

•BUYING OR SELLING – Home values vary based on type and location:

It is important to consult with a REALTOR® about how your property type is currently faring locally, and how it compares to similar listings in your particular neighbourhood.

•SELLING – Pricing is crucial when listing your home: Serious sellers recognize that their properties must be priced within the current market conditions. Homes that are priced well are the ones that are selling, as has been evident this year.

•NEGOTIATING – For a successful purchase and sale: The professional negotiation skills of a REALTOR® bring buyers and sellers together for a successful sale.

DISCLAIMER:

Monthly Sales statistics are based on the sales reported by real estate offices on or before the last day of the month. Sales not reported by month end and collapsed sales are reflected in the subsequent month’s statistics.

Read

Buyer Type (Family Dynamic): 26.8% Empty Nester/Retired (up from 20.1% in August)** 25.3% Two Parent Family/Children (same as August) 19.9% Couple without Children (down from 23.4%) 14.2% Single Male (up from 11.2%)** 10.7% Single Female (down from 13.8%) 3.2% Single Parent with Children (down from 4.5%)

** In September, there were more purchases by empty nesters-retirees and single males, and by single females and single parent families, while all other categories saw decreases or stayed the same.

Moving From: 46.9% from Within OMREB Board Area  (down from 50.7% in August) 21.7% from Alberta (same as August) 12.0% from Lower Mainland/Vancouver Island  (up from 9.0%)*** 9.7% from Other Areas in BC  (down from 10.8%) 5.0% from Saskatchewan/Manitoba (up from 3.4%)*** 3.1% from Eastern Canada/Maritimes (up from 1.5%)*** 1.6% from Outside Canada  (up from 1.1%)*** 0% from NWT/Yukon (down from 1.9%)

Brought to you by: David Pusey Personal Real Estate Corporation

Source: OMREB

Read

Buyer Type (Family Dynamic): 26.8% Empty Nester/Retired (up from 20.1% in August)** 25.3% Two Parent Family/Children (same as August) 19.9% Couple without Children (down from 23.4%) 14.2% Single Male (up from 11.2%)** 10.7% Single Female (down from 13.8%) 3.2% Single Parent with Children (down from 4.5%)

** In September, there were more purchases by empty nesters-retirees and single males, and by single females and single parent families, while all other categories saw decreases or stayed the same.

Moving From: 46.9% from Within OMREB Board Area  (down from 50.7% in August) 21.7% from Alberta (same as August) 12.0% from Lower Mainland/Vancouver Island  (up from 9.0%)*** 9.7% from Other Areas in BC  (down from 10.8%) 5.0% from Saskatchewan/Manitoba (up from 3.4%)*** 3.1% from Eastern Canada/Maritimes (up from 1.5%)*** 1.6% from Outside Canada  (up from 1.1%)*** 0% from NWT/Yukon (down from 1.9%)

Brought to you by: David Pusey Personal Real Estate Corporation

Source: OMREB

Read

Today, more then every, Real Estate sections of public libraries and the Internet abound with ideas on selling your home privately and the opportunity to "do-it-yourself. In addition to pointers on sprucing up your home for maximum sale ability or the color of a sign, they may provide homeowners with tips on the "psychology of showing a house." Yet, most homeowners choose to sell through a Realtor.

Here are some points to ask yourself....

How will I show the home? Do I really want to face a potential buyer myself? What negotiation experience do I have? How do I know what my house is really worth? am I selling too cheap? What if they bring a Realtor? What about advertising on the Internet? What don't I know and what risks am I taking on? What if I sell my own home and something goes wrong?

Realtors provide a service which takes the worry out of many potential risks and provides a separation between you and potential buyers and other Realtors. Also, Realtors have experience which goes far beyond that of an average homeowner in terms of knowing the laws and rules surrounding Real Estate and has ongoing training in many areas including law, negotiation, specialized markets and much more. Also a Realtor has access to a huge database of Tax assessments, Sold, Active, Withdrawn and Expired listing data to help properly price your home for sale.

Selecting a Realtor

Finding the right real estate representative takes some time and care. Do you know someone who has had success with a Realtor? Who is the best person for the Job? The answer is not always simple but a few considerations listed below may make it a lot easier.

1/ Is the Realtor experienced in high-level and advanced negotiations?

2/ Is the Realtor professional?

3/ Does the Realtor give you confidence in their ability to meet your needs and expectations?

4/ Does the Realtor have a track record of success?

5/ Do they answer telephone calls and e-mails promptly?

6/ Do they have layers of people to get through before you can talk with them directly?

It's important that you feel comfortable with your Realtor. This person will probably become part of your life for a couple of months and will be a big part of the negotiations  - and it can be emotional.

Developing a plan of action

Once you've decided on a Realtor, you'll want to know what his or her marketing plan will include. How often will there be open houses? Will he or she be listing your property on a Multiple Listing Service? How does he or she plan to advertise the house?

You'll also need to decide whether to list exclusive with one firm or go with the MLS? Generally, the more people that see your house, the likelier it is to sell quickly at the price you want.

Many sellers are anxious to sell their homes quickly. These sellers usually choose the MLS system over an exclusive listing because the property gets greater exposure.

Professional real estate salespeople know how to separate the "lookers" for the "buyers". They can determine a qualified buyer. A couple's income, lifestyle and the date they must purchase helps establish their housing requirements.

A Realtor will give you a detailed comparative analysis of features and prices of houses selling or sold nearby. This helps determine a realistic price.

Whether or not your home shows well to prospective buyers can make a difference in terms of how long it stays on the market, and what it sells for. Realtors can also give clients tips on how to improve their home to create a good first impression. Fresh paint, new wallpaper and flowers are all elements in the sales effort. Sometimes, rearranging the furniture and taking out extra pieces is all that is needed.

Real estate professionals are experienced in arranging financing and closing deals. A Realtor can assist in negotiating a better offer act as a mediator between buyer and seller and draw up a legally binding contract.

A professionally trained Realtor may be able to sell your home quicker at a better price than you could get privately because he or she has greater access to potential clients. Furthermore, you'll be able to go through the transition period with less worry and inconvenience.

Article Provided by: David Pusey Real Estate Corporation

Read

Today, more then every, Real Estate sections of public libraries and the Internet abound with ideas on selling your home privately and the opportunity to "do-it-yourself. In addition to pointers on sprucing up your home for maximum sale ability or the color of a sign, they may provide homeowners with tips on the "psychology of showing a house." Yet, most homeowners choose to sell through a Realtor.

Here are some points to ask yourself....

How will I show the home? Do I really want to face a potential buyer myself? What negotiation experience do I have? How do I know what my house is really worth? am I selling too cheap? What if they bring a Realtor? What about advertising on the Internet? What don't I know and what risks am I taking on? What if I sell my own home and something goes wrong?

Realtors provide a service which takes the worry out of many potential risks and provides a separation between you and potential buyers and other Realtors. Also, Realtors have experience which goes far beyond that of an average homeowner in terms of knowing the laws and rules surrounding Real Estate and has ongoing training in many areas including law, negotiation, specialized markets and much more. Also a Realtor has access to a huge database of Tax assessments, Sold, Active, Withdrawn and Expired listing data to help properly price your home for sale.

Selecting a Realtor

Finding the right real estate representative takes some time and care. Do you know someone who has had success with a Realtor? Who is the best person for the Job? The answer is not always simple but a few considerations listed below may make it a lot easier.

1/ Is the Realtor experienced in high-level and advanced negotiations?

2/ Is the Realtor professional?

3/ Does the Realtor give you confidence in their ability to meet your needs and expectations?

4/ Does the Realtor have a track record of success?

5/ Do they answer telephone calls and e-mails promptly?

6/ Do they have layers of people to get through before you can talk with them directly?

It's important that you feel comfortable with your Realtor. This person will probably become part of your life for a couple of months and will be a big part of the negotiations  - and it can be emotional.

Developing a plan of action

Once you've decided on a Realtor, you'll want to know what his or her marketing plan will include. How often will there be open houses? Will he or she be listing your property on a Multiple Listing Service? How does he or she plan to advertise the house?

You'll also need to decide whether to list exclusive with one firm or go with the MLS? Generally, the more people that see your house, the likelier it is to sell quickly at the price you want.

Many sellers are anxious to sell their homes quickly. These sellers usually choose the MLS system over an exclusive listing because the property gets greater exposure.

Professional real estate salespeople know how to separate the "lookers" for the "buyers". They can determine a qualified buyer. A couple's income, lifestyle and the date they must purchase helps establish their housing requirements.

A Realtor will give you a detailed comparative analysis of features and prices of houses selling or sold nearby. This helps determine a realistic price.

Whether or not your home shows well to prospective buyers can make a difference in terms of how long it stays on the market, and what it sells for. Realtors can also give clients tips on how to improve their home to create a good first impression. Fresh paint, new wallpaper and flowers are all elements in the sales effort. Sometimes, rearranging the furniture and taking out extra pieces is all that is needed.

Real estate professionals are experienced in arranging financing and closing deals. A Realtor can assist in negotiating a better offer act as a mediator between buyer and seller and draw up a legally binding contract.

A professionally trained Realtor may be able to sell your home quicker at a better price than you could get privately because he or she has greater access to potential clients. Furthermore, you'll be able to go through the transition period with less worry and inconvenience.

Article Provided by: David Pusey Real Estate Corporation

Read

When you are ready to sell your house you'll want to enlist the help of a Realtor. He or she will provide the professional advice and service you need to make the selling process go smoothly.

Showing you ways to make your home as marketable as possible is just one of the many ways your Realtor can help. Here are a few tips from the experts:

Clean everything in and out of sight

With clipboard in hand, take a tour of your home. Take note of every opportunity to remove clutter and dirt. Rooms, closets and cupboards will appear larger and more inviting when you get rid of unnecessary stuff and tidy up what's left. Remove bulky or unused furniture and rearrange the rest to make the best use of space.

Most of us are pack rats, so apply the following test to every questionable item: Have I used this in the past six months, or will I need to use it soon? If the answer is no, throw it away, store it elsewhere or sell it in a yard sale.

Be equally aggressive in disposing of dirt. Pay particular attention to the two most important rooms in a buyer's mind: bathrooms and kitchens. And once you've removed all the dirt: keep everything clean, every day. You never know when the person who will ultimately buy your home will visit.

Repair as much as you can

During your home tour identify the things that are broken, cracked, stuck or just plain don't work anymore. These can include: leaky faucets, holes in window screens, stuck or broken windows, lights that don't work, doors that squeak or don't close properly, missing or broken cupboard handles, cracks in the walls and ceilings, and dozens of other "little things" you've been meaning to do for years. Now is the time.

Certain items, such as roof or basement leaks, must be repaired, along with any water damage. Electrical or heating system problems must be fixed. Some repairs, however, may not be necessary. Will that hairline crack in the driveway really make or break the sale? How about a chipped floor tile in the entryway? Some buyers will have their own ideas about how to deal with these problems. You may find it easier to adjust your selling price to reflect the cost of these repairs, rather than pay for them yourself.

Depersonalize your home

Your house reflects you. It is decorated with your taste and your sense of style. Unfortunately, that heart-shaped table lamp your grandmother left you may distract potential buyers from seeing the home itself. Grit your teeth and store all personal items (framed family photos, trophies, etc.) out of the way.

If you have brightly coloured accent walls or heavily patterned wallpaper, consider repainting or wallpapering these areas with light, neutral colours that enhance a room's size and make it more flexible to receive any kind of furniture. Remove area rugs, light fixtures and other items that buyers might find too difficult to imagine in "their home", even if you were not intending to include these in the sale.

Beautify the house and yard

Peeling, dry paint is relatively easy to fix or replace and can make all the difference in your home's appearance. If your carpet or other floor covering is in really bad shape, consider replacing it. The same holds true for badly tattered window coverings such as drapes and blinds.

Outside the house, weed the flower beds, remove dead tree branches, keep your lawn well-mowed and edged, trim the hedges, rake the leaves, sweep the sidewalks, fix and paint the deck or fence, plant a few flowers and do anything else you can think of to enhance your home's curb appeal.

It may sound like a lot of effort, but these tips, and the assistance of a Realtor, will help you sell your current home quickly so you can move on to your next dream house.

Article Provided by: David Pusey Personal Real Estate Corporation

Source: OREA

Read

Homeowners face a double quandary when faced with the prospect of selling their homes: how does one make sure the decision to sell is the right one; and once the choice is made, when is the right time to sell?

Traditionally, there have been four major reasons why and when people sell their homes: financial and market conditions, employment changes, family matters and lifestyle changes. In today's economy, one additional issue has emerged which has great bearing: low interest rates.

All these will not only affect your fundamental decision to sell, but will greatly impact your options regarding when to sell.

Financial and market conditions

Almost every aspect of real estate involves market conditions and financial issues--for the seller they are of the utmost importance. After all, it's the seller who is putting property, equity and sometimes, years of hard work on the line.

With so much at stake, it's imperative that sellers contact a real estate professional. Only Realtors have the hands-on experience and intimate knowledge of the real estate industry needed to get the best possible price for your property.

We've all heard of "buyer's" and "seller's" markets. These terms refer to the proportion of people wanting to buy versus the number of homes on the market. If the number of homes for sale outstrips potential buyers, then it's a buyer's market. If there are not enough homes to satisfy demand, then it's a seller's market.

If you're selling for financial gain, you'll obviously want to do so in a seller's market. But, if you plan to purchase another home after sale, there isn't as big a difference as you would first think.

In a seller's market, you may sell your home more quickly and for a better price, but you'll be facing the opposite challenges when purchasing. In a buyer's market, you may have to wait longer to get a fair price, but you'll have more selection and pricing options when looking for your new property.

Right now, interest rates are near their lowest in decades. This has lead to unprecedented opportunities for those wishing to buy. Often, mortgage payments will be less than rent on an apartment or townhome. Therefore, a large number of consumers are considering ownership, many for the first time. For sellers, this holds the potential for a huge boom.

"Seasonality" is a term that Realtors use to gauge when home sales are expected to climb. Although this is only one factor to be considered when selling, in BC Spring and Fall can be a time of higher activity. Buyers with children especially prefer to look in the spring in order to settle in a new home before school begins in the fall.

Employment changes

Employment changes can affect a decision to sell. There's the obvious matter of relocation if a new job or promotion takes you to a different city. In this case, selling most often becomes a necessity unless the homeowner wishes to retain a property for investment or other purposes.

Moving to a smaller urban centre may also allow you to purchase either a similar home for less money or a bigger one for the same outlay. Even if a new job does not require you to move a great distance, you should use the opportunity to assess your home ownership needs and move up if you can.

The reality is that with interest rates as attractive as they are, it's more possible than ever to make a major move without lowering your family's standard of living.

Family issues

The family issue homeowners cite more than any other when deciding to sell is children. Most often, people want a bigger home to accommodate a newborn, or may find their family has simply outgrown the home.

If this is the case, you're in a perfect position relative to today's marketplace. First and foremost, you can afford to put in enough time to sell at the right price and then find a home that suits your requirements. Contacting your Realtor well in advance of the date you wish to move will virtually guarantee you'll find a good home at a good price.

Lifestyle changes

The two most common lifestyle changes that motivate sellers are retirement. For those planning to retire, truly enjoying your latter years may involve a "cashing in" of assets. Again, it's a wise to look far enough ahead in order to use the market to your advantage and sell at a good price. Changes in lifestyle can include things such as buying a condominium to ease the workload involved with maintenance and upkeep; city dwellers who want to live in a more rural environment, or even those who want to set up a home business.

Article Provided by: David Pusey Personal Real Estate Corporation

Source: OREA

Read
The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are member’s of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.