better days are just around the corner…

2018 was a year of transition – the market had a hangover after 2016 and this is the soft landing our policy makers intended.

looking back, we had the introduction of a foreign buyer’s tax, 5 interest rate hikes, and now “stress testing” – now that the market has wrestled with all that news, where are we headed?

We are in an election year, and I feel we will have a smooth and settling market – to me, this means your home will sell if it is priced right – a good buyer agent will know the market and can easily see if you are overpriced. IF you are overpricing your home in the hopes of “catching a buyer”, you risk losing all of your momentum.

For an unbiased opinion from market leaders who are dialed in, feel free to have us come by for an interview: https://dancooper.com/agent/mike-castiglione/

Thank you to all of my regular readers and thank you for your trust and referrals to your friends and family – much appreciated – we continue to grow every day.

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true story

I booked a showing on a property today and I get a note from the Seller through to me:

 

“Non confirmation, owner refused due to small dog, rebook for later in the day”

 

What bugs me most is that the agents never followed up with me to see about coordinating me back for a showing. I called them twice with no return phone call.

 

To the Seller: you want to Sell the property, right?

To the Agent: don’t just sit idly by as you are going to lose a showing and a buyer

 

I would never let this happen to any of my listings – and this is one of the little things that potential home sellers don’t see – it’s actually a big thing – agent follow up – sorry to say that not everyone handles situations with the same care and attention.

“A Realtor with experience” vs. “just has a licence”

A recent and true story involves an inexperienced buyer agent who blew a deal, and made enemies with his clients and mine – not the best situation and definitely could have been handled better.

He was trying to buy my listing and he screwed up, royally.

Here’s what this banana did:

During the negotiation he is pushy, with fast irrevocable timelines despite being told about our time requests – ok, we can deal with stuff like this – part of negotiations.

His crowning moment has to do with how he handled the deal: his buyers accept the deal, they deliver the deposit, then the night they are supposed to remove conditions, they hold the Seller hostage for money. The deal was negotiated, then they wanted money off, and for no reason: nothing wrong with the house, just want want want.

The Seller did not agree (they were actually upset especially as this deal took 2.5 weeks to negotiate, having fallen apart 3 times already)…,

The buyer then got mouthy and blames me, my brokerage, and everyone but herself. Of course the agent threw me under the bus – and his client ate it up – of course she did – she picked an agent who doesn’t know what he’s doing.

The underlying problem here is half the agent and half his client. Surely it wasn’t his idea to blow the deal – the squeaky wheel is his client – but his client should have been able to recognize the value of his Realtor’s experience instead of control him. I can also say that the Realtor should have been able to manage his buyer. Like attracts like –

The deal went sour – the agent doesn’t get paid, his client doesn’t get the house.

Nobody wins. Lots of wasted time.

The moral of this story, is to chose wisely when you hire a Realtor – you want to make sure your personalities are in sync and you want to know that your Realtor has experience.

How do you choose a good agent?

Interview a few – and ask to see reviews and the mls sales of the homes they Sold.

 

 

 

 

 

 

 

I want to thank everyone who’s been reading this blog over the last few years – the readership has grown quite a bit and the support of so many of you has helped to keep me going especially in the start of my career.

Why do you pay a Realtor?

There’s an old joke about a hotel owner whose furnace went out in the middle of the winter. He called the repairman who came over and went down into the basement. He carefully measured a certain distance down the duct work ,then he opened his toolbox, pulled a huge hammer and smacked the side of the duct.

“Try it now.”

To the hotel owner’s amazement, the furnace came on.

The furnace repairman sent a bill for $10,000. The hotel operator who had watched the entire thing was naturally upset.

“I want an itemized bill!”

The bill came back:

Hitting with the hammer………………………………..$5
KNOWING where to hit with the hammer…..$9,995
———————————————————-
$10,000

We sometimes tend to discount things that we do not understand. The most common example are discussions about professional athletes. The logic goes, why should we pay them millions of dollars to play a game that most grown men would play for free?

It’s because they have a unique set of skills that makes them very, very good at what they do.

So back to the title of this blog: You pay a Realtor for his valuable time, knowledge and experience.

Would you go to work for free?

Your Realtor does –

…and he also pays for expensive courses, mls memberships, and insurance…(all fixed costs)…

..and then marketing dollars are spent, and then he negotiates with your buyer…

..all in order to get you the highest price and so that he can be highly informed, in order to serve your interests.

Your Realtor only gets paid when and if the deal closes.

Sounds like you need one of these superhero’s…

..and if you are thinking of selling your house you should start looking for a good one!

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Thank you to all of my 748 subscribers and readers of this blog for your continued support.

here’s how I do it – a professional assessment

People have me over to view their homes on a regular basis. How am I able to tell them what it could fetch on the market?

I do quite a bit of research before I come over – including driving by the property, previewing sales and available properties on the street and in the area, and knowing what your upgrades are worth.

Here is an outline I will use:

land: how much land do I have (frontage X depth)

upgrades: front door, flooring, bathrooms, kitchen, pool, pool liner & equipment, finished basement, security system, water treatment upgrades, roof, windows, furnace, a/c, hwt owned/rented. What else has sold in your area… How does your home measure up? How does the home show? Will you require staging?

I have seen alot of homes and have a good feel for the market and the information shared at our meeting will be very thorough.

If you would like to know what your homes is worth, have me over for a comparative market analysis so you will have numbers that make sense.

 

 

People are afraid to admit it, but it’s true…

I have a story to tell…

This is written for all who have an interest in real estate…

But especially for YOU…the one who is thinking of selling it.

There are many sales people who are in the business, some part-time & some full-time. There’s also a good chance that someone you know really well is a sales person.

Something happens when you choose to list your home, and hire a sales person who you know out of convenience/feel you have to use/ who could be a friend or even family.

People are afraid to admit it, but it’s true.

You’re not happy with your choice.

AND,

The sales person isn’t happy either and only took the listing because it fell on their lap and they have nothing else…

They could have dropped the ball when they messed up and didn’t give you (or failed to ask!) for feedback on the showings that you’ve had, or maybe they are simply lacking the experience that it takes to negotiate multiple offers…

Why am I writing this?

Selling a home is not as easy as putting a sign on your lawn and waiting for the calls to come in – and I’m sorry to say it… but this may be all  you’re gonna get.

Ask your sales person these questions

1) show me the MLS data on the homes you have sold in the last year

2) pick any one of them, and ask how the listing relationship came to be and ask if you can call the Seller to hear about their experience

3) ask for any 3rd party reviews on the level of service they provide

4) ask them how they would handle a situation where more than one person was bidding on the home

5) ask how they would handle a situation where a buyer wants to offer on the property but does not have an agent

6) when you ask this next question, have a pen and a sheet of paper in hand and ask what proactive actions they will take to sell your home

7) ask what they would do if it’s a few days before closing and there is a major problem that needs to be rectified (for example, you have a flood)

8) ask about their most challenging listing experience and how they overcame any hurdles

9) ask how they qualify the buyer, and what actions they take to know the offer is legitimate

Good luck with your decision, and I hope to have challenged your decision-making process!

688 Readers and growing!

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