Calgary Real Estate BlogRecently posted or modified blog postshttps://www.joesamson.com/blog/Copyright JoeSamson.com2024-03-03T17:48:54-07:00tag:joesamson.com,2012-09-20:3822Calgary Housing StatisticsMost Recent Calgary Real Estate Statistics: February, 2024
<a href="https://www.joesamson.com/calgary-real-estate-map-creb/" target="_blank" title="View Community Map of Calgary"><img style="float: right;" title="CLICK to view: Calgary real estate map" src="https://assets.site-static.com/userfiles/840/image/CREB-MLS-Calgary_Community_map.jpg" alt="CLICK to view: Calgary real estate map" width="201" height="260" /></a>
Days on Market: 24 (Down by 26.8% from a year ago)
Average Price: $583,160( Up by 15% from a year ago)
Active Listings: 2,355 (Up by 13.6% from a year ago)
Sold Listings: 2,135 (Up by 22.8% from a year ago)
New Listings: 2,711 (Up by 13.6% from a year ago)
Sold to List Price Ratio: 101.02% (Up by 1.57% from a year ago)
Months of Inventory: 1.10 (Down by 30.2% from a year ago)
<a href="https://www.joesamson.com/idx/search-form/"><img style="float: left;" src="https://assets.site-static.com/userfiles/840/image/dog-search.png" alt="“Moving" width="150" height="150" /></a><a href="https://www.joesamson.com/idx/search-form/">CLICK to Search for Homes in Calgary!</a>
Calgary Housing Prices
2023 - February
2024 - February
Y/Y - % Change
Total Sales
1,738
2,135
22.84%
Total Sales Volume
$880,858,321
$1,245,047,057
41.34%
New Listings
1,852
2,137
15.39%
Inventory
2,386
2,711
13.62%
Months of Supply
1.58
1.10
-30.19%
Sales to New Listings Ratio
72.84%
78.75%
5.91%
Sales to List Price Ratio
99.45%
101.02%
1.57%
Days on Market
33
24
-26.75%
Benchmark Price
$530,500
$585,000
10.27%
Median Price
$460,000
$548,500
19.24%
Average Price
$506,823
$583,160
15.06%
Index
247
272
10.30%
Number of Days it Takes to Sell a Home in Calgary (DOM)
<img style="float: right;" src="/userFiles/840/image/statistics/days-on-market.png" alt="Days on Market" width="70" height="70" />In February 2024, the number of days an average property listed on the market was for 24 days. In the same month of 2023, the average MLS® listing in Calgary sold in 33 days. This figure is composed of all listings on the Calgary MLS® System, including <a href="https://www.joesamson.com/calgary-condos/" title="Search CONDOS for sale in Calgary">condominiums</a>: apartments, <a href="https://www.joesamson.com/calgary-townhouses/" title="Search TOWNHOUSES for sale in Calgary">townhouses</a>, and single-family and attached houses within the boundaries of Calgary city limits.
Average Real Estate Prices in Calgary
<img style="float: right;" src="/userFiles/840/image/statistics/average-real-estate-prices.png" alt="Average Real Estate Prices" width="100" height="100" />The average price of a home in Calgary was $583,160 in February 2024. Currently, it is about 15.1% more than it was in the same month of 2023 when the combined price of single-family, condominiums and attached homes were recorded at $506,823.
Active MLS® Listings in Calgary
<a href="https://www.joesamson.com/idx/search-form/" title="View all MLS Listings in Calgary"><img style="float: right;" src="/userFiles/840/image/statistics/active-listings.png" alt="Number of Active Listings" width="80" height="80" />Active listings on the market in Calgary</a> can often be the indication of a shifting market as real estate prices can be influenced by the difference between the supply of inventory and the number of buyers being active in the market.
On the last day of February, the number of active listings in Calgary was recorded at 2,355 units, which is a decrease of 14.2% compared to February of 2023 when 2,746 homes were listed for sale in Calgary, AB.
Number of Homes Sold in Calgary
<img style="float: right;" src="/userFiles/840/image/statistics/sold-homes.png" alt="Sold Homes in Calgary" width="80" height="80" />The number of sold homes in Calgary last month was 2,135 properties. It is reflecting a seasonal trend when compared to January's numbers of 1,738 sold units, or a month-to-month increase of 29.4%. On a year-over-year comparison, the number of sold units increased by 22.8%.
New Listings in Calgary
<img style="float: right;" src="/userFiles/840/image/statistics/new-listings.png" alt="New Listings in Calgary" width="80" height="80" />When compared to the same month in 2023, the number of new listings in Calgary in February 2024 increased by 13.6% as CREB has recorded 2,711 <a href="https://www.joesamson.com/calgary-new-listings/" title="Search JUST LISTED Homes in Calgary">new listings coming on the market in Calgary</a>. On a month-to-month comparison, the number of new listings in Calgary increased by 26.7% which is a combination of current market trends and the seasonal cycle of the real estate market.
Months of Housing Supply
<img style="float: right;" src="/userFiles/840/image/statistics/months-of-housing-supply.png" alt="Months of Supply of Real Estate" width="80" height="80" />The pace of the market or months-of-inventory indicates the level of interest of the homebuyers on the street. A typical balanced market can be characterized by a 2-3.5 month of inventory.
Currently, the number of active listings is sitting at a supply of 1.10 months. It means, that if buyers would be acquiring real estate at the same rate and no new listings were to enter the market, then it would take this many months to buy up all of the available <a href="https://www.joesamson.com/communities/">real estate listings in Calgary</a>. In February 2023, the housing supply was sitting at an inventory of 1.58 months, meaning that buyers are about 30.1% more active today to purchase real estate than they were a year ago.
The Odds of Selling a Home
<img style="float: right;" src="/userFiles/840/image/statistics/odds-of-selling.png" alt="Chances of selling a home in Calgary" width="80" height="80" />The odds of selling takes into consideration the amount of sold properties compared to all the available listings in Calgary that were on the market in a given month.
Within the City of Calgary, in February 2024, a total of 90.7% out of all MLS® listings were sold when compared to the active listings which were recorded on the last day of the month (excluding expired and terminated listings throughout the month). It also means that a mere 9.3% of homeowners did not succeed at selling and they either became an expired listing or have been terminated at the request of the seller. At the same time in 2023, homeowners were able to sell their properties with a 27.4% lower success rate as approximately 63.3% of all the listings in Calgary that went up for sale have sold.
ARE YOU THINKING OF BUYING OR SELLING A HOME?<br /> Give us a call at <a href="tel:587-318-3801" title="Call Joe Samson">587-318-3801</a> to learn more about how we can help with your real estate plans!
2024-03-03T17:15:00-07:002024-03-03T17:48:54-07:00Joe Samsontag:joesamson.com,2012-09-20:5872Think it Through Before Buying a Condo<img src="https://assets.site-static.com/userfiles/840/image/Think_about_a_condo.jpg" width="1200" height="779" alt="A couple is thinking about making a decision while laying on the floor." title="Thinking about buying a condo in Calgary?" />
<a href="https://www.joesamson.com/calgary-condos/">Condos</a> and townhouses are some of the most popular home choices in Calgary, and that's because they are affordable for all types of buyers. Not to mention they come in all sizes and offer a convenient lifestyle for most people.
Are you thinking about buying one of these? If you are, there are some things you need to investigate before doing so to ensure you make a sound decision. It will only take you a moment to ask yourself the questions below and they may end up saving you a lot of time, money and frustration.
Is the Condo Board Facing any Lawsuits?
If there is a pending lawsuit on the homeowner’s association for any reason, the bank you're getting a loan from may not approve the final paperwork. And while that is important to consider, you should also carefully consider why there is a lawsuit to begin with. Is the association financially responsible? Are they in financial trouble? Find out answers to these questions, because if they aren't, you could end up making a bad investment.
How Does the Outside Look?
While a building might look nice on a website, it could look very different in person. Are the grounds maintained or do they need some work? Is the curb appeal of the building clean, or does it look dirty? What do the homes or buildings around the building look like? These are things you need to consider so you don’t end up with lower property value in the future.
What are the Rules?
Rules and regulations are extremely important in condos and townhouses, so you should familiarize yourself with them from the very start. Here are some things you need to look for in particular:
Is there parking for guests?
Can you have pets?
Is there a doorman?
Do you have to schedule a rooftop space?
When are recreational areas (pools, parks, clubhouses) open?
Are you allowed to have a grill?
There are thousands of details that can be listed, but you probably get the idea that you should read through what the association does and does not allow.
Are Units Owner-Occupied?
Some banks will stop lending to certain buildings when they see that the majority of the units are not being occupied by the owners. If the building that you like in Calgary has a lot of investor units, you could end up not being able to get a loan at all.
Do Residents Like Living There?
Talk to a few residents in the community or building that you’re considering to see if they like living there. Note any complaints and make sure you deeply consider those before signing any paperwork.
Looking into the condo or <a href="https://www.joesamson.com/calgary-townhouses/">townhouses</a> you’re going to buy in Calgary is smart investing. Even if you think you know you’re choosing the right place, take some time to do your research. You might be surprised by a lot of things that you learn, and it could end up preventing you from making a bad investment. 2020-05-15T15:43:00-07:002020-01-10T17:14:53-07:00Joe Samsontag:joesamson.com,2012-09-20:58563 Valuable Tips to Selling a Townhouse!<img src="https://assets.site-static.com/userfiles/840/image/Townhouse.jpg" width="600" height="395" alt="Townhouse" title="Townhouse complex" />
Are you ready prepared to sell your <a href="https://www.joesamson.com/calgary-townhouses/">townhouse</a>?
This can be an exciting venture with a lot to look forward to, but it's important not to make a rushed decision. You should know the process before you get started, otherwise, you could end up making a lot of expensive mistakes.
If you want a little bit of insider information to get started, check out the information below. This valuable information will likely be just what you need to get started.
Selling a townhouse is different from selling a single-family property! There are a lot of similarities between marketing a townhouse and a single-family home, but they are not exactly the same. There are a few major differences that you need to be aware of ahead of time.
Marketing a Townhouse
When a townhouse is marketed, it's extremely important for agents to talk about the amenities of the condominium complex. Special emphasis should be placed on the nearby parks, tennis court, swimming pools, available parking stalls, zero maintenance, security and any other amenities that appeal to people.
These are things you wouldn't likely talk about when selling a detached home, as most communities don't have exclusive private pools or even fitness centres for their homeowners.
Talk About Condo Fees
You pay condominium fees to help pay for snow removal, trash pickup, outdoor maintenance and other things, so it might seem obvious that this is an expense a buyer will have to consider. But, remember that a lot of people, especially first-time buyers, don't know that these dues exist. Talk to your agent about these fees before placing an offer. T
Tip: If you’re motivated to sell but aren’t getting offers because the market is slow, you can sweeten the deal for buyers by paying for their first year of condo fees.
Have Condo Documents Ready
You've got a buyer, great! But, don't get overly excited and forget that you need to have the condo association documents (rules, regulations, etc.) to your buyers as soon as possible. If you don't provide these by a certain deadline then they could very easily back out of the offer, leaving you in your condo for a lot longer.
Now that you know all of this information, you should be ready to hire an agent and get your townhouse on the market. Don’t be afraid to tell them what you want, but also take time to listen to their expert advice. Together you should be able to come up with a marketing/sales plan that is perfect for your property. And, if all goes well you may be able to move into your home before you know it!2020-04-16T09:17:00-07:002020-01-10T17:14:46-07:00Joe Samsontag:joesamson.com,2012-09-20:5838How to Avoid Condo Fee Nightmares<img src="https://assets.site-static.com/userfiles/840/image/Condo_document_Review.jpg" width="1267" height="1024" alt="Overworked person leaning on desk buried in papers" title="Condo paper review" />
We've all heard or read at least one condo fee horror story that makes us think twice about ever joining one on our own. You know, those stories where the condominium board imposed extreme rules for the homeowners in their communities and buildings.
Have these stories off-put you from purchasing your own home where there's a condo fee present? It makes sense to proceed with caution, but it’s also important to realize that there are ways you can avoid being in situations by keeping these suggestions:
Familiarize Yourself With The Bylaws
In order to follow the rules, you have to know what they are in the first place. That's why it's crucial you read through the house rules and regulations that are registered on title by the condo board. The rules are going to vary based on many factors, including the type of home you live in and the group that put them together. Some common rules Calgary residents can expect are:
Restricted loud noises from 10 p.m to 8 a.m.
No RVs or large vehicles allowed to be parked in the driveway
Only a certain number of vehicles can be parked on the curb
Decorations for holidays have to be taken down by certain times
Landscaping has to be kept up
Rugs need to cover hardwood floors to control noise in other condos
There will likely be many rules and regulations that are imposed on whether you’re going to live in an apartment type condo or a townhouse.
Read Condo Board Meeting Notes
Most condos in Calgary meet every three months or every month to discuss rules, concerns and other situations that need to be addressed. If you ask, you should be able to read notes from these meetings so you can get an idea of how strict the association is.
You might find that they are easy to deal with and allow a lot of leniencies, but you could also find just the opposite. Look for any red flags that might bother you in the future, like complaints from homeowners about the condo management company or cases where the condo board has made extreme requests to homeowners.
Look Into the Condo Board's Finances
Every board should have a reserve fund that helps cover major expenses, like repairs for building plumbing or other major repairs. If there isn't a large reserve available, then you could end up suffering the consequences and having to pay a huge fee to help pay for the repairs.
Another aspect of finances that you should look at is whether or not the condo board can afford their monthly expenses. If the homeowners in the association aren't paying their dues on time or at all, this could result in larger payments for everyone else.
The lesson here is to do your homework before you ever purchase any type of home with a condo fee. Horror stories are generally the result of not doing any type of research and just assuming things will be fine. There are plenty of <a href="https://www.joesamson.com/blog/category/home-buying-tips/" title="Home buyer's tips">buying tips</a> available and some wonderful associations in Calgary, and you can be part of one if you just look to find it.2020-03-16T14:50:00-07:002020-01-10T17:13:39-07:00Joe Samsontag:joesamson.com,2012-09-20:5837Decorate Your Condo on Outrageously Low Budget<img src="https://assets.site-static.com/userfiles/840/image/Condo_decoration_-_low_budget.jpg" width="800" height="533" alt="Furnished apartment" title="Decorating a condo with low budget" />
Purchasing a condo can be exhausting, not only because you have to find the right place, but also because of the paperwork you have to do. But, the good news is that once that's over, the real fun can begin!
You'll be able to start decorating to your heart's content, making your condo look exactly the way you want it to. Before you get started at the home improvement store, you should first consider your budget. This will ensure you can decorate without spending your new mortgage payment.
Ready to get started? Here are the best tips for decorating a condo!
Take Your Time
You might want to get your condo decorated within a week or two, but that could result in making rush decisions that you don’t like later on. Take your time so you can get a feel for your space and your own taste. Include items that you find that are unique and pull your place together as you get to know it. You will be glad you did this in the long run, especially if your taste tends to change over time.
Use Space Wisely
Most condos don't have a lot of extra space, and if yours doesn't, then you need to consider every piece that goes into it. This may mean opting for a corner couch rather than a huge sofa, or stools for your counter rather than a dining room table.
Think about what’s going to work best for the space that you have, not the space that you want. If you buy too many things or things that are too big, you could end up with a very uncomfortable and cluttered condo.
Add Privacy with Window Treatments
Your condo might have come with plastic blinds, but if you want elegance and increased privacy, you should invest in custom window treatments. These will pay off in a big way once you see them hanging up, and may even help with energy efficiency from keeping the sun out. There are thousands of options for covering your windows, which is why you should work with an experienced professional in Calgary for help.
Consider How Your Future Will Change Things
Are you only going to live in your place for a year or two? If so, don’t go crazy with your decorations, because you may not want to use them in your future home. Instead, purchase staple pieces that you’ll be able to use in any style or size of the home.
Another thing to think about is whether or not you plan on having kids or moving someone else in. Both of these things can change your future decor, which may mean holding off on statement pieces until later down the road.
These tips are simply meant to help make decorating a little bit easier and less stressful for your very first condo! Remember there’s no pressure to have a space that looks like it came from a magazine, as it should be unique and your very own. Have fun, incorporate things you like and enjoy the process.2020-02-14T15:19:00-07:002020-01-10T17:13:04-07:00Joe Samsontag:joesamson.com,2012-09-20:5730How a Condo Reserve Funds Could Increase You Home's Value or Destroy it!<img src="https://assets.site-static.com/userfiles/840/image/Condo_reserve_fund_study.jpg" width="1200" height="900" alt="Paper, glasses, pen" title="Condo reserve fund study" />
Whether you live in a condo or are thinking about purchasing one, the reserve fund it carries is something you need to keep in mind. It plays an important role within your condo as a whole and is something you may end up needing in the future.
This fund works like a savings account because it’s designed to cover expenses that the condominium owners will face in the future. Every building should have one of these, and there should be individual owners who are responsible for maintaining it. If you're not familiar with all the essential facts about this type of fund, then it’s important to learn about them so you’re prepared in the future.
Special Account Required for Reserve Funds
In the province of Alberta, a separate bank account is required for the reserve funds to be kept. This means that the funds cannot be within the same account that’s designated for routine repairs or replacements.
Reserve Fund Studies are a Must in Alberta
Every 5 years Alberta condo buildings are required to have Reserve Fund Studies updated. This is meant to ensure the heating/cooling systems, garage, windows, and other physical aspects of the building are in good condition. It also determines when those things might need to be replaced or repaired. Only engineers with special designations are able to do the reports, as they are specially trained with what to look at. Most buildings generally update their reports on the 5-year mark as to save money on full reports.
Directors of a Condo Must Have a Plan to Set Money Aside!
When reserve fund studies are completed, the results are turned over to the directors of the board. Their job is to create a fundraising plan that will ensure enough money is available to cover the repairs and replacements in the future.
An example of a common plan is to take 10% of condo fees and put them into the funds with a planned increase (normally 1%) for the next several years. This must be implemented within 120 days, and owners must be given an overview so they know what's going on.
Funds Can Only Be Used for Certain Expenses
Reserve funds are ONLY for non-routine repairs and replacements. This means they can be used for things like the roof and the boiler room, but not the pool and other routine repairs.
Reserve Funds Must be Maintained
If directors fail to properly maintain the reserve funds as suggested by the reserve fund study, they could be sued by owners within the building for neglecting to do their tasks properly.
Funds May Not Be Adequate
Because construction costs are on the rise, it's possible that repairs or replacements may cost more than anticipated in the future. Another common issue arises when reserve funds are needed earlier than anticipated, especially for building repairs and they could cause further problems with the condo fees.
If you’re currently or will live in a condo, then it’s important to familiarize yourself with the reserve fund that’s carried by the building. If you are buying then make sure you look at this ahead of time so you know whether or not a sufficient amount of funds are in place. 2020-01-15T12:23:00-07:002020-01-23T10:47:14-07:00Joe Samsontag:joesamson.com,2012-09-20:5729Why Selling a Condo is Different Than a House!<img src="https://assets.site-static.com/userfiles/840/image/selling_a_condo_vs_a_house.jpg" width="1252" height="843" alt="Apartment and House" title="Difference between selling a condo vs. a house." />
Are you thinking about selling your condo, but are worried that your place will sit on the market for a while? There are a lot of great <a href="https://www.joesamson.com/blog/category/home-selling-tips/" title="Tips on Selling real estate in Calgary">articles you can read about selling homes in the Calgary</a> area, but when it comes to selling a condo, things are a little bit different. You have to adjust the way you approach this process to make sure you’re doing things right.
After all, condos are far different from traditional homes, and shouldn’t be treated as the same. By learning what the differences are, you can better prepare yourself for what lies ahead.
In-house Competition
Your condo will be more likely to sell when it’s the only one of its kind in your building. If there were two or three other places just like yours, buyers may end up going with another just based on the price.
If you notice that there are a lot of other condos in your building that are just like yours, then you may want to hold off until they sell. Alternatively, if time is pressing, you can look into spending a little extra on decorating your home better than your competition. Often it takes very little investment and staging to make your home more appealing.
Pricing it to Sell
It's an unfortunate reality that with condos you don't have a lot of wiggle room when it comes to the asking price. Sure you can increase your asking price based on upgrades and more space, but remember that you have competition that could be as close as right down the hall.
When other condo owners place their units up for sale, they set the benchmark for what your place will likely go for. There is a good chance that you might be able to get a little bit more for those upgrades, but remember that buyers may not be interested unless they are substantial. Work with your agent to determine what price you should set your condo at, and research other units currently for sale to come up with that number.
Condo Documents
Condo buyers need to be made aware of the history of the building, problems with the condo board, maintenance that's scheduled, warranties, work that will be done in the future and anything else that has to do with the building/condo.
As the seller, you're required to produce those documents, so you'll need to work with your agent to determine which you need for potential buyers. Gather these documents in advance to avoid taking the risk of losing a potential buyer.
Limited Street Advertising
Your advertising will generally be limited to your agent's website because you can't put a sign in your window and expect people to come over. You also don't have control over the way your hallway looks, so curb appeal is really out of the equation for your space. Taking great looking photographs is going to be a key when it comes to showing your home to a potential buyer. Make sure that your real estate agent is taking top quality photographs or is hiring a professional to take pictures for you.
Know Your Potential Buyers
The majority of condo purchasers, especially if you live near a <a href="https://www.joesamson.com/calgary-northwest/brentwood/" title="Calgary community near U of C.">university</a> or have a small 1 bedroom, will be young and investing in their first place. Keep in mind that this generally means financing will be required, and if the buyer needs mortgage insurance, the restrictions for that may ruin the sale. While these tips can help prepare you for some of the difficulties you may face <a href="https://www.joesamson.com/calgary-condos/" title="Condos for sale in Calgary, AB">selling a condo in Calgary</a>, remember there’s no substitute for an agent. They can help guide you through the process so you have the support you need to get your condo off the market!2019-12-20T14:57:00-07:002019-12-20T14:58:43-07:00Joe Samsontag:joesamson.com,2012-09-20:408410 things to consider for any real estate investment The real estate industry is vast, and you will often find people wondering about the best way to invest in it. There are so many questions that people ask regarding real estate investment as a way to create a source of income.
This is an understandable considering how overwhelming it can be for beginners. There are many ways that can affect your returns. This means, there is a need to focus not only on the returns but also on the possible losses – in simple terms, proceed with caution.
<img src="https://assets.site-static.com/userfiles/840/image/blog/investing/image1-17.jpg" width="1200" height="800" alt="Kitchen and living room" title="10 things to consider for any real estate investment " />
The following are therefore some of the aspects of the industry you should consider in case you want to buy such an investment.
1. Employment opportunities in the area
The best place to buy a real estate investment is where many people are. What will be the need to buy an estate that will not profit you in any way?
A place with many industries and employment opportunities always has more a lot of people there. People stay where they can earn something and not places that are ‘dry.’
<br />This is an investment and should be treated as such. You buy it for people, and people look for employment and busy areas.
2. The location
If you want to invest in the industry and get anything out of it, the location you choose will determine everything for you. Many places are best for different investments. Identify a town that has a busy environment.
If you are not sure of the best location, it is advisable that you seek the advice of experts to give you tips. The types of renters that will be <a href="https://housing.com/news/attractive-rental-income-residential-commercial-property/" target="_blank">attracted to your property</a> depend on the location you choose. Consider the criteria for selection such as hospitals, proximity to learning institutions among other things.
3. Renting rates
If you have bought an income property, you need a monthly income. For this reason, take a survey and find out the monthly rental rates in that location. It is the rents that will pay back the mortgage for you, and it will benefit you in other different ways.
For this to be accomplished, the renting rates are the key aspect. If they are too low, they will not pay back faster, and if they are too high, they may scare away renters. Find a place with average rent.
4. Security
Security, security, and security – insist on a location with the highest level of security. No one, not even yourself will like to live in a place with poor security. Security is one of the most critical sections in the hierarchy of needs for human beings.
For this reason consider the proximity to the local police station, the friendliness in the neighbourhood and the kind of people who live there. In that manner, you are assured your customers will come looking for investment opportunities in cities like Calgary, Toronto and in <a href="https://vancouverhomeliving.ca/houses/" target="_blank">Vancouver's real estate</a> market.
<img src="https://assets.site-static.com/userfiles/840/image/blog/investing/image2-19.jpg" width="1600" height="675" alt="camera" title="camera" />
5. Amenities
Every region has things that renters will be looking out for. Find out the attraction sites and things that can pull renters to that region. For example, people are always looking for the best place they can do their shopping without having to travel far. They may also consider entertainment parks, movies theatres and things like that.
When buying the property, survey the area for such amenities. Chances are, you will have more renters in such areas that those far from them. This is the reason there are more renters in places closer to cities and towns that rural areas.
6. Education institutions
While people will be looking for a place to live, they will be thinking about their children and their education. Some of them have come with children going to school already and will be looking for transfers as they move to this new location for whatever reason.
A place with learning institutions far is not suitable for most people. For this reason, consider a location close to universities, schools, and colleges. Some renters have specific types of schools they would want to take their children to. It is up to you to find out the most preferred locations with the best institutions.
7. Future developments/ expansion
The best town or location should have proper plans for the future. They should show that there is some kind of developments coming up. Some of these developments are what attract renters to the location because they want to be part of it.
<img src="https://assets.site-static.com/userfiles/840/image/blog/investing/image3-21.jpg" width="1024" height="456" alt="development" title="development" />
The area should show signs of possible high growth and not be a declining area. It is all about establishing something for your future because your property needs to serve you for a lifetime. And the area with early stages of gentrification is a sign that your property will appreciate faster.
8. Inventory
The inventory levels should be one of your biggest considerations. Find out if there has been a lot of inventory in the past years. Check the <a href="https://www.joesamson.com/blog/calgary-real-estate-market-statistics/">market trends</a> from the past. It will not be a good idea to be in the seasonal trend while deciding on your investment.
9. Taxes on property
Taxes are always the determining factor for most investments. They are the considerations that most investors will be looking out for. The cost of taxation will most definitely affect your investment at all levels. Go through the tax reviews and the market at large and establish whether or not they are high. And you must know the reason for the currents rates.
10. Insurance
Your returns will be affected by some of these additional costs. They may reduce your profits or reduce them and in most cases, the later. But they are important all the same.
It is not a good idea to invest in places where there is no insurance like a place near natural disasters. Before you invest, therefore, indulge your insurance agent in some research for establishing possible risks.
If you are a beginner in the industry, the best investment is in single family homes and condos. These offer low maintenance costs and are easy to manage. But still, you must consider a property that has higher chances of appreciation.2018-08-16T11:29:00-07:002018-08-16T12:37:02-07:00Joe Samsontag:joesamson.com,2012-09-20:3997Tuxedo Park Community Information<a href="https://www.joesamson.com/calgary-city-centre/tuxedo-park/"><img src="https://assets.site-static.com/userfiles/840/image/communities/Tuxedo-park.png" width="900" height="715" alt="House in Tuxedo Park, Calgary." title="Tuxedo Park Community, Calgary." /></a>
Tuxedo Park is located in the <a href="https://www.joesamson.com/calgary-city-centre/" title="View homes in City Centre Calgary.">district of Calgary's City Centre</a> and it is well known for its close proximity to Downtown Calgary. The neighbourhood is located north of 16th Ave. with Centre Street running right through the middle of the community.
The community of Tuxedo Park was annexed to Calgary City in 1910 and established in 1929. The community experiences a cultural mix which is distinctive of its openness to welcome new residents. The cultural diversity in this community makes it easy for new residents to connect with others.
<a href="https://www.joesamson.com/calgary-city-centre/tuxedo-park/"><img style="float: left;" src="https://assets.site-static.com/userfiles/840/image/dog-search.png" alt="“Moving" width="150" height="150" /></a><a href="https://www.joesamson.com/calgary-city-centre/tuxedo-park/">CLICK to Search for Homes in Tuxedo!</a>
Tuxedo Park Profile
Tuxedo Park is a residential community that shares boundaries with Edmonton Trail on the east, 32 Avenue N on the north, 2nd Street NW on the west, and Trans-Canada Highway on the south. The Centre Street cuts through the community, running straight from north to south. The Centre Street connects the community to Calgary's downtown.
Numerous bus routes connect the community to nearby neighbourhoods and downtown Calgary. Some of the well-paved routes will include Route 300, Route 142, Route 17, Route 4 in Huntingdon, and Route 109 in Coventry Hills.
Residents can travel by bus in any direction within and out of the community. The activities in this community cannot lack opportunities for attractions and recreation. Since travel to Downtown Calgary is just a few minutes, residents can easily access the establishments, attractions and shopping facilities in the city.
Recreation & Amenities
The community offers numerous opportunities for outdoor recreation. Served by an active community centre, residents can enjoy skating, soccer, basketball, and many other sports. The Central Park is designed to provide different kinds of recreation to residents, including a skating rink.
<a href="http://tuxedoparkcommunity.ca/hall-rentals/" title="Tuxedo Park Community Association - Hall Rental">The community centre</a> can hold up to135 people in its main hall. Many events and activities take place here, including the yearly breakfast with Santa, crafts, appearances, conferences, Oktoberfest, and other social activities.
Tuxedo Park Schools
Many schools are serving Tuxedo Park community. Elementary schools in this district include Mount View, King George (offering French Immersion Program), St. Joseph, Rosemont, Buchanan, and St. Pius (offering French Immersion Program). Junior high school students are served by St. Joseph, George P. Vanier (offering French Immersion), and Madeleine d'Houet.
Students at the high school level can attend Crescent Heights, St. Mary's, and James Fowler. Bilingual high schools will are William Aberhart and St. Francis. University students can attend the University of Calgary which is just minutes away. Chinook Learning Services provides education and learning opportunities to adults. There is also a facility that caters to the needs of less fortunate children; it is managed by Woods Homes.
Real Estate in Tuxedo Park
<a href="https://www.joesamson.com/calgary-city-centre/tuxedo-park/" title="Search homes for sale in Tuxedo Park.">Search for Tuxedo Park homes for sale & Tuxedo Park real estate listings.</a>
Tuxedo Park real estate still contains older homes, historic landmarks, and lots. Houses for sale in the community come in different architectural features, sizes, and designs. You'll find single family homes, townhouses, condos, and detached homes.
Home buyers will also find some properties for resale that are foreclosures, bank-owned property, and short sales. There are bungalows perched on nice lots surrounded by trees.
Homes for sale are near Centre Street which has many shopping opportunities, ranging from gas stations, small strip malls, and shops. Although Tuxedo Park is an old community, it always offers opportunities for development. This is an open community where any newcomer will find a place. Its location near Calgary core makes it one of the coveted communities in this part of Calgary City.2018-05-29T18:53:00-07:002018-05-30T15:27:11-07:00Joe Samsontag:joesamson.com,2012-09-20:3670If You Had $24 Million... Here is a Property for You!There are a lot of things you can do with $24 million, including your own island and just about anything you wanted, ever. But, what if you just wanted something simple, like a home? Well, if you're in the market, then there is a Priddis-area ranch that's for sale. The home is listed for just under $25 million, with an original list price of $37.888 million back in 2014. Yes, it's breathtaking, but does that really justify the astounding price tag?
Priddis Mega-Mansion for Sale
<img style="display: block; margin-left: auto; margin-right: auto;" title="Pirddis Mannsion for Sale" src="/userFiles/840/image/blog/38_million_dollar_home/screen_shot_2014-03-01_at_10.49.19_am_580.png" alt="Pirddis Mannsion for Sale" width="580" height="386" />
What does $24+ million get you when it comes to a home? Besides the actual land, which sits on land that was actually owned by the family of the Ford Motor Company, it comes with a beautiful home. This beautiful structure is over 5,000 square feet and has four bathrooms along with three bedrooms.
In addition to this, it comes with luxury furnishings that are worth millions of dollars, and even a guest house for friends or family to enjoy. As for land, there are 242 acres, so you can do just about anything you can imagine on it, from owning horses to bringing in a farm!
<img style="display: block; margin-left: auto; margin-right: auto;" title="Luxury Homes Near Calgary" src="/userFiles/840/image/blog/38_million_dollar_home/screen_shot_2014-03-01_at_10.49.33_am_580.png" alt="Luxury Homes Near Calgary" width="580" height="384" />
The price for this place is pretty massive, and that's easy to see when you look at the listing. To put it in perspective, it's one of the highest priced properties in all of Calgary and Alberta and is also one of the largest. The last family who owned the home spent millions of dollars changing it for the better, which included re-contouring the land around it.
In addition to this, they put over $6 million worth of renovations into the home itself, so it looks as luxurious as you can imagine a home of this price would. The woman who owned the home originally purchased it with her husband, who passed away seven years ago.
<img style="display: block; margin-left: auto; margin-right: auto;" title="Most Expensive Home for Sale Around Calgary" src="/userFiles/840/image/blog/38_million_dollar_home/screen_shot_2014-03-01_at_10.50.04_am_580.png" alt="Most Expensive Home for Sale Around Calgary" width="580" height="385" />
After her husband passed, she completed the house, so all of the work is very personal to her. The home isn't even the size that she and her husband originally planned for; it's actually half of what they first designed. She spent a lot of time choosing which fixtures and other home decors would go inside, so everything is special and different.
This is definitely a home that looks like it was designed by someone with good taste because everything works very well together. No expenses were spared with the home, making it perfect for someone who wants to move into a place that needs no changes.
<img style="display: block; margin-left: auto; margin-right: auto;" title="Super Luxurious Kitchen" src="/userFiles/840/image/blog/38_million_dollar_home/screen_shot_2014-03-01_at_10.50.14_am_580.png" alt="Super Luxurious Kitchen" width="580" height="386" />
There are millions of dollars of millwork in the home, along with custom cabinets made by hand. In addition to this, there are different fixtures from all over the world, and views of the mountains that anyone could enjoy waking up to. If you do have animals, then there is a barn outdoor along with stables and hired hand quarters.
There is also a lot of storage for feed and a PRIVATE GAS STATION (as well as an entrance)! It's a unique home that has a lot to offer for the next owners; if they can afford to shell out the millions of dollars to pay for it.
More Photos of This Luxurious Property
<img style="display: block; margin-left: auto; margin-right: auto;" title="Entertainment Centre for High End Homes" src="/userFiles/840/image/blog/38_million_dollar_home/screen_shot_2014-03-01_at_10.50.31_am_580.png" alt="Entertainment Centre for High End Homes" width="580" height="385" />
<img style="display: block; margin-left: auto; margin-right: auto;" title="Homes With Wine Cellar" src="/userFiles/840/image/blog/38_million_dollar_home/screen_shot_2014-03-01_at_10.50.44_am_580.png" alt="Homes With Wine Cellar" width="580" height="387" />
<img style="display: block; margin-left: auto; margin-right: auto;" title="Property With an Excrecise Room" src="/userFiles/840/image/blog/38_million_dollar_home/screen_shot_2014-03-01_at_10.50.58_am_580.png" alt="Property With an Excrecise Room" width="580" height="382" /> 2018-02-01T13:39:00-07:002018-03-12T15:44:39-07:00Joe Samsontag:joesamson.com,2012-09-20:3588How to Search for a Home Online<img style="display: block; margin-left: auto; margin-right: auto;" src="/userFiles/840/image/blog/online/how-to-look-for-a-home-online.png" alt="How to Search for a Home Online?" width="800" height="1477" />
Before the internet… There was a time when the only way to search for homes was with a real estate agent. REALTORS® were viewed upon as the gatekeepers of real estate listings. It’s a strong contrast to how real estate listings are free to view by everyone today. Back in the days, they were printed in phone book style binders and were literarily kept under lock.
Real estate agents only used to have printed copies of listings which were forbidden to be removed from their offices. Other than driving up and down the block scouting for sale signs, the only other options available for a home buyer was to find a <a href="https://www.joesamson.com/about/" title="Joe Samson & Associates Real Estate Team">local real estate agent</a>. If a buyer wanted to view all the available homes that matched their search criteria, they would have had to talk to a real estate agent and visit them at their office.
Leaving the good old days of doing real estate like a sloth - According to a report by realtor.org, over 90% of home buyers start their home search online. It makes a lot of sense to use the internet as it made the buying and selling process more efficient and up to date. The information of homes that are available for sale gets updated almost instantly, therefore viewing homes online can save a lot of time and helps buyers to quickly narrow down their search results to a manageable list.
Over the last 10 years, we have witnessed a blast of online real estate services and it has fundamentally changed how real estate is being searched for today. You don’t really need to be tech savvy at all to find homes that may interest you. It’s now possible with a click of a mouse to <a href="https://www.joesamson.com/communities/" title="Calgary Community Information and Highlights">research communities</a>, find information about schools, gather <a href="https://www.joesamson.com/blog/calgary-real-estate-market-statistics/" title="Calgary Real Estate Market Statistics">local real estate market statistics</a> and to take a virtual tour into your neighbour’s closet.
This wealth of free real estate informant has not wiped out real estate agents and the ice age is still far away from where REALTORS® will become extinct. The real estate revolution has changed how business is done. Abandoning the idea of guarding the listings, the role of a real estate agent is shifted towards being more of an educator and to serve as a guide to the client.
...the role of a real estate agent is shifted towards being more of an educator and to serve as a guide to the client.
You may find that many real estate websites offer much the same information of listings - it’s important to remember that the real estate agent standing behind the website is the one who is going to be representing you and not the website that you are visiting. Most likely a well-polished website it isn’t going to reveal the true personality of its owner.
Below you will find some great tips on how to search for a home online. By following these tips and recommendations, it will transform your entire online journey to a much more enjoyable experience. Be sure to take notes and ask lots of questions from your real estate agent.
<img style="float: left;" src="/userFiles/840/image/blog/online/how-to-recognize-great-website.png" alt="How to Recognize a Great Real Estate Website" width="“150" height="“150" />How to Recognize a Great Real Estate Website?
The internet is full of low-quality websites and opportunist who may be out there for a quick profit. By all cost, I would avoid using sites such as Kijiji or Craigslist and go to a website that offers a high user’s experience with an integrated MLS® fed listings. But how do you recognize a great real estate website? Most consumers explore the web to search Multiple Listing Service homes on the market. For example, consumers who may be <a href="https://www.joesamson.com/blog/moving-to-calgary-ab-22-reasons-why-youll-love-it/" title="Read: Moving to Calgary, AB? - 22 Reasons Why You'll Love it!">moving to Calgary</a> can find out a wealth of information about different types of <a href="https://www.joesamson.com/calgary-south/" title="Search Homes for Sale in SOUTH Calgary.">real estate for sale in Calgary</a> on our website.
Below you will find several functionalities to look for when in search of the perfect real estate website:
1. Does it Have Great Community Information?
If you are moving to a new area, this is particularly important. Every homebuyer needs to study the local community ahead of time before deciding what communities they are going to be raising their children in. The more information you can learn about the place where you and your family is going to move into, the more peace of mind you will be having down the road.
A well informed real estate website should equally provide real estate expertise and local community information: like guides and insights about subdivisions such as <a href="https://www.joesamson.com/calgary-south/silverado/" title="View Homes in Silverado">homes for sale in Silverado</a> as an example. Real estate market data about communities can be very important to both buyers and sellers, similar to what you find on our website here if a buyer would want to view <a href="https://www.joesamson.com/calgary-south/walden/" title="View Homes in Walden">housing statistics of homes in Walden</a>.
A community page should best describe everything you wanted to know about a specific neighbourhood. Including photographs of the area, recreational opportunities, things that locals do for entertainment and perhaps available information about schools nearby may become handy as well.
2. Look for a Great Real Estate Blog
Other than having lots of great information about the communities that you are interested in living in, a <a href="https://www.joesamson.com/blog/" title="Calgary Real Estate Blog/News">local real estate blog</a> should be an integrated part of a superior real estate website. A blog allows visitors to get an idea of what it would be to work with that agent and his knowledge of the field.
Since day one when I entered the real estate business, I had never considered myself as a salesman. I have always focused on educating them and to provide valuable information to my clients to help them to learn more about the buying and selling process of real estate.
I strongly believe it is imperative to work with someone whose number one goal is to educate the home buyer or seller before making one of their lives biggest decision. A well constructed real estate blog is the perfect place for visitors to find a wealth of information about how to buy a home or everything that they need to know concerning the <a href="https://www.joesamson.com/blog/how-to-qualify-for-a-mortgage/" title="Read: How to Qualify for a Mortgage">process of qualifying for a mortgage</a>.
3. Is the Website Easy to Use
Finding your way around a website can sometimes be a real pain in the rear. Especially if you are not able to easily find what you’re looking for. Many real estate websites are set up to block people from getting to view listings by forcing them to register first. In my opinion, it only frustrates the heck out of most users and quite frequently users end up jumping to another website where they will eventually end up getting what they want. I really believe in providing exceptional service up front and offer <a href="https://www.joesamson.com/calgary-new-listings/" title="Search JUST LISTED Homes in Calgary">free access to MLS® listings</a> for home buyers to view.
4. Is the Website Up to Date?
The design of the website is also very important to reflect that its owner cares about innovation and wants to keep phase with new technology. A website that applies cutting-edge technology displays the agent’s willingness that he cares about the client’s needs. Some websites are so outdated that I cringe when I try to use it. I mean there is a ton of irrelevant content on the page with a pop-up banner, sidebar ads and offers for other products which have nothing to do with real estate. When a real estate agent is able to demonstrate a highly competent service online, there is a really good chance that they will be just as good in real life when working with buyers and sellers.
<img style="float: left;" src="/userFiles/840/image/blog/online/look_for_customized_mls_search.png" alt="Look for Customized MLS® Search Options" width="“150" height="“150" />Look for Customized MLS® Search Options
Finding yourself on a website that has been developed with the customer in mind is extremely significant. Once you have figured out the location and the details of a home that you are looking for, you will need to be able to filter the search results from the clutter of other listings that are irrelevant to your preferences.
Far too many real estate websites only offer basic search capabilities. At <a href="https://www.joesamson.com/" title="Home page of joesamson.com">joesamson.com</a> when someone is searching for a home in Calgary, they can easily narrow their search results by lot size, type of parking, amount of condo fees and they can even set to view homes based on the number of days it has been on the market.
Most IDX fed real estate websites allows users to set alerts that notify them when a new property goes on the market. This is extremely important in a competitive market. In order to up your chances against another home buyer, look for a website that has fresh listings which are being updated at least every 15 minutes throughout the day. Great opportunities tend to get scooped-up on the same day and you will need to hop on new listing immediately.
<img style="float: left;" src="/userFiles/840/image/blog/online/properly-configure-home-search-settings.png" alt="How to Properly Configure Real Estate Search Settings" width="“150" height="“150" />How to Properly Configure Real Estate Search Settings?
Ever since MLS® listings have become available online, home buyers have been undertaking home search activities on their own and they have become more hands on. This may have led many to believe that soon real estate agents will become extinct and their services won’t be required as buyers and sellers will be able to find each other online.
In many ways, the evolved real estate industry did make it easier for homebuyers to locate homes on the market. While the internet opened the gates of free access to view MLS® listings, it has also released a wealth of information that could suffocate the average home buyer. REALTORS® have listened to what the public wanted and they have made different kinds of search tools available to them. But at the same time, buyers must be cautious about how they go about using the online search tools as these tools by themselves aren't going to warrant the perfect outcome. The same way as if the best chisel in a sculptor's drawer will not necessarily create a beautiful sculpture unless its owner knows how to use it properly.
Common mistakes that buyers make while searching for a home online:
1. Incorrectly Interpreting the Data
While many real estate agents have access to display all sorts of data and different types of real estate listings on their websites, it doesn’t automatically makes them the area expert in that community. Just because someone is displaying condominiums for sale on their website, it won’t make them a condo specialist until they have a considerate amount of experience working with condos. The same example can also be projected out to commercial real estate dealings as well.
Consumers could sometimes make false assumptions concerning the expert that they have stumbled upon just because of the aggregate data that is being shown on their website. Analyzing the data and helping the client to decide if this is a good match for their real estate needs will need to be discussed with someone who is well educated and well experienced in interpreting the information.
2. Not Knowing Exactly What They’re Looking For
I am sure that every real estate agent can relate to this - when someone calls them up and asks them to send them a good deal when they come across one. The novice REALTOR® may jump at this opportunity and usually, it turns into a rabbit chase. While the more seasoned real estate agent would probe the consumer and find out a little bit more about their plans and create a customized search with laser-focused criteria.
While many online home buyers typically set up their own searches to carpet bomb every neighbourhood in a wide array of price ranges. There is always a good chance that their search results probably isn’t even remotely within their budget. A well designed real estate website is going to offer its user search capabilities based on various home styles. As an example, if someone were to look at <a href="https://www.joesamson.com/calgary-condos/" title="Search CONDOS for sale in Calgary">condominiums for sale in Calgary</a> or <a href="https://www.joesamson.com/calgary-townhouses/" title="Search TOWNHOUSES for sale in Calgary">townhouses in Calgary</a>, the consumer would be easily able to sort through listings that only belong whiting that style of homes.
3. Restricting the Search Settings Too Much
The most common mistake that homebuyers make when viewing homes online is restricting the price setting too much. As an example, If someone is considering to buy a <a href="https://www.joesamson.com/calgary-luxury-homes-for-sale.php">luxury home in Calgary</a> for $900,000, they will often use that figure as their capped price and no other listing is going to be displayed beyond that figure. Buyers (and sometimes their agents) forget that homes that are selling for $950,000 may be purchased for $900,000 after negotiations are done. Expanding the maximum search price setting can be hugely favourable to the buyer.
4. Looking at Homes They Can’t Afford
Looking at homes for sale online is a great way to initially start the home search journey. As time passes, progression is expected to be made by funnelling the information down. Many home buyers end up wasting time by looking at homes that are way outside their price range. The images of those luxury homes are pleasing to the eye, but they help very little, other than being a distraction.
<a href="https://www.joesamson.com/blog/reasons-why-you-need-a-mortgage-pre-approval/" title="Read: Reasons Why You Need a Mortgage Pre-approval">Getting pre-approved for a mortgage</a> is a crucial part of <a href="https://www.joesamson.com/blog/are-you-ready-to-buy-a-home/" title="Read: Are You Ready to Buy a Home? [INFOGRAPHIC]">making sure that you are ready to buy a home</a>. Finding out what price range you should shop within needs to be one of the first benchmarks that need to be confirmed in a <a href="https://www.joesamson.com/blog/the-importance-of-a-mortgage-pre-approval-letter/" title="Read: The Importance of a Mortgage Pre-approval Letter">mortgage pre-approval letter</a>. Once you know your set budget, try to stay within those limits to maintain your focus on the homes that are most relevant to you.
<img style="float: left;" src="/userFiles/840/image/blog/online/things-to-avoid-while-searching-for-a-home-onine.png" alt="Things to Avoid While Searching for a Home Online" width="“150" height="“150" />Things to Avoid While Searching for a Home Online
Even though I’ve been a <a href="https://www.joesamson.com/agents/125/joe-samson/" title="Joe Samson - Calgary REALTOR">REALTOR® in Calgary</a> for well over a decade now, it never stops to amuse me when someone calls in and goes on to explain that they have found the perfect home online and they want me to immediately drive across town on a Sunday evening. Never mind the inconvenience to my family and personal agenda, but if these people haven’t seen any real estate in a long time, should they be buying the very first property that they visit?
It’s understandable that folks get overly excited as they may have been looking at homes online for many months prior to contacting a real estate agent. This is a very common occurrence among first time home buyers. Most often it turns out such way that once someone views a home in person, it quickly changes from being their dream home to something else.
Buying a home isn’t like deciding where to go for supper. I constantly have to remind people to ground their emotions and be on alert about making an impulse decision. It is total nonsense to expect someone to drop everything and open a door for you right away. If you want to be taken seriously by real estate agents, then you need to treat them with a level of respect and be considerate of their schedule.
<img style="float: left;" src="/userFiles/840/image/blog/online/beware-most-real-rstate-photographs-look-better-online.png" alt="Beware - Most Real Estate Photographs Look Better Online;" width="“150" height="“150" />Beware - Most Real Estate Photographs Look Better Online
<img style="float: right;" src="/userFiles/840/image/blog/online/beware-of-deceiving-real-estate-photos.png" alt="Beware of deceiving real estate photos" width="400" height="351" />Kudos to all real estate agents who make the investment in taking professional photographs. I think all homeowners deserve to have their homes presented in the best possible light.
In addition to using the proper equipment, there are many tricks of taking real estate photographs, including software to further enhance the quality of the image. As an example, professional photographers use an SLR camera with a wide angle lens attached to it. This allows the image to capture more area of the room and to portray the property to look more spacious.
There are many other tweaks that go on to generate a high-quality image. Most importantly buyers need to be aware of real estate images looking better online than in real life. While a great image may initially peak someone’s interest (that’s the whole point), you need to be able to recalibrate your expectations once you decide to visit in person.
When I started in real estate, REALTORS® were only able to showcase a maximum of 10 photographs online. This was good and bad at the same time. It was good because it forced the agent to select the top 10 images that show the best parts of the home. But it was disadvantageous because it limited the number of rooms and features of the home that the listing agent was able to showcase on MLS®.
Fast forward to today when up to 50 images of a listing are uploaded and available to view. In the past, you were able to flip through the images very quickly and decide if the home resonates with what you’re looking for. Now it takes a very long time to review so many images before deciding to consider viewing the home in person or to pass on it. I mean seriously… why does someone need to take 10-15 images of the same kitchen?
One of my personal pet-peeves is “homes with a view”. Many times if there is a mountain-top showing through an upstairs window it is usually selected as the feature image. What the listing agent forgets to mention is that they took the picture while standing on a stool and had to peak out the small bathroom window and used a high powered zoom lens to take the shot between two apartment buildings. Yes, unfortunately, this could also happen and be prepared to be slightly disappointed every now and then.
<img style="float: left;" src="/userFiles/840/image/blog/online/bad-real-estate-images-can-be-an-opportunity.png" alt="Bad Real Estate Images Can be an Opportunity;" width="“150" height="“150" />Bad Real Estate Images Can be an Opportunity
Unfortunate for the seller, but fortunate to the buyer, homes with incredibly bad pictures can mean a huge opportunity for you. You see, not every real estate agent is created equally. While the best real estate agents are going to move mountains to sell a home, others may not worry too much about creating photographs that stand out from the rest. In reality, I find this to be a great disservice to the seller. The same way a quality photograph of a home can attract buyers, the opposite encounter can just as well repel home buyers from wanting to book a tour or to visit the open house this weekend.
Just because a home has terrible images online, it doesn’t mean it’s a house that you should make a pass on. In fact, I encourage buyers to strongly consider homes with bad images. Often it’s the listing agent’s sloppiness that causes people to turn away from viewing listings with horrible marketing attempts.
When there is little interest expressed by home shoppers towards a listing, the seller is often left without any other choice than to lower the price as they are not able to clue in why nobody is interested in viewing their home. If you are a home seller, this is one area that you want to keep an eye out for when hiring a REALTOR® to sell your home.
<img style="float: left;" src="/userFiles/840/image/blog/online/final-thoughts-on-online-home-searching.png" alt="Final Thoughts on Online Home Searching;" width="“150" height="“150" />Final Thoughts on Online Home Searching
Searching for a home online is a fantastic way to get started. It speeds up the learning curve for every home buyer and allows them to quickly familiarize themselves with the local real estate market. Reading lots and educating yourself about the how to buy a home and discovering things that sellers do to sell a home is going to be rewarding and help you with a trouble-free home buying experience.
If you implement these tips on how to search a home online, you will find satisfaction in knowing that you are not only going to save an incredible amount of time and energy but most certainly you will find yourself working with a reliable real estate agent to find your next home. Buying a home can be a long journey and if you arm yourself with the right resources, sealing the deal on your new home can be accomplished more easily and before you know it, it will become your reality.
<img src="/userFiles/840/image/blog/online/how-to-search-for-a-home-online-social.png" alt="Best way to search for a home online" width="600" height="315" style="display: block; margin-left: auto; margin-right: auto;" />2017-10-11T10:14:00-07:002018-02-18T18:34:51-07:00Joe Samsontag:joesamson.com,2012-09-20:3589The Importance of a Mortgage Pre-approval Letter<img src="/userFiles/840/image/blog/importance-of-a-pre-approval-letter.png" alt="The Importance of a Mortgage Pre-approval Letter " width="600" height="900" title="The Importance of a Mortgage Pre-approval Letter " style="padding: 20px; display: block; margin-left: auto; margin-right: auto;" />
Are you considering going through the mortgage pre-approval process before you begin your search for a home? Great idea! A couple of the most common situations you may avoid by making this smart decision include:
Being turned down by an agent or seller to look at a home. This isn’t because they don’t want to help but simply because they won’t know if you can afford the home or are serious about buying.
Falling in love with a home that you cannot afford. What if you found a place that was perfect for you, but it was way outside of your budget? This could lead to a lot of stress, frustration, and disappointment for you, the seller, and your agent.
Obtaining a mortgage pre-approval letter makes sense when you consider the stress that can be caused without it. The situations listed above are some of the most common, but they are not the only ones that may be experienced.
By taking the time to get pre-approved before beginning to shop, you’ll have evidence of your ability to pay and the fact that you’re serious about buying as well. Real estate agents and sellers alike will appreciate this and be eager to work with you as a result.
If you want to get the home buying process started with confidence, then taking the time to get a pre-approval is necessary to <a href="https://www.joesamson.com/blog/are-you-ready-to-buy-a-home/" title="Read: Are You Ready to Buy a Home? [INFOGRAPHIC]">make sure that you are ready to buy a home</a>.
The first step is to find a mortgage lender, who will run your credit and obtain important financial information in order to determine your eligibility. Fortunately, once this is over and you have been pre-approved, you can begin shopping for your next home. With that pre-approval in hand, you’ll be treated as a serious buyer from the very first phone call, whether you’re speaking with an agent or seller.
What is a Mortgage Pre-approval Letter?
This letter, while it may not seem like a vital document to you, is incredibly important to real estate agents and home sellers. A mortgage pre-approval letter is an evidence of <a href="https://www.joesamson.com/blog/how-much-real-estate-can-you-afford/" title="Read: How Much Real Estate Can You Afford?">how much real estate you can afford</a> and that you’re serious about taking the next step when buying a home. However, it’s important to keep in mind that while a pre-approval letter does carry weight, it is not a guarantee of a loan. Fortunately, it’s proof enough that you’re capable of buying, which is why agents and sellers value it so much.
How Do I Get a Mortgage Pre-approval Letter?
<a href="https://www.joesamson.com/blog/reasons-why-you-need-a-mortgage-pre-approval/" target="_blank" title="Read: Reasons Why You Need a Mortgage Pre-approval">Getting a pre-approval letter</a> is easier than you might think. Once you have selected your lender and received the thumbs-up from them to go and look for a home, you can ask them for an official letter to confirm their statement.
It is a very common practice in the real estate and banking industry to obtain a mortgage pre-approval letter. When you’re working with a reputable mortgage team, providing this letter should be standard practice for them.
How Long Does it Take to Get a Pre-approval letter?
The answer really depends on how much time do you need to provide all the documents to the lender? The sooner you can send the lender or the mortgage broker the supportive documents, the faster you will be approved and provided with a mortgage pre-approval letter. Based on my experience it shouldn’t take them longer than 24-48 hours to provide you with an answer once you have provided all the supportive documents to them.
Why Do I Need a Pre-Approval Letter?
While you may be able to verbally express that you’re ready to buy, there are many great reasons for being pre-approved for a mortgage. A pre-approval letter is physical evidence of the fact that you are a serious buyer with the capacity to purchase.
Sellers really don’t know anything about the potential buyers coming through their door. And for valid reasons they are always skeptical whether the buyer is going to <a href="https://www.joesamson.com/blog/how-not-to-screw-up-your-mortgage-approval/" title="Read: How NOT to Screw-up Your Mortgage Approval">succeed in qualifying for the mortgage</a>. You will find that sellers take you more seriously when you’re equipped with a mortgage pre-approval letter, and your agent is able to help you in a much more effective manner as well.
For instance, with this letter, they may be able to help you to negotiate a better deal due to the fact that you’re a bonafide buyer. Most pre-approved buyers also find that sellers prefer to work with them over non-approved buyers, giving them an edge over the competition.
Another important reason why you need a pre-approval letter is that it clarifies the amount that you can actually afford to borrow. This will make it easier to search for your next home and can save you from the heartbreak of falling in love with a home that you simply can’t fit in your budget. Making this even better is the fact that pre-approval can help speed up the closing process by the only having to approve the purchased property.
Benefits of a Mortgage Pre-Approval Letter?
1. Pre-approval Letter Provides Proof of Financing
Most real estate agents request that clients obtain pre-approval before they ever show them a home. This is for good reason, as it’s an unfortunate reality that unqualified buyers waste their time and therefore money. Agents want security that their clients have the ability to buy, which is exactly what this letter shows.
2. Negotiate Better Price & Term
Do you want to be in a better position to negotiate on a home you love? A pre-approval letter will help, as it proves you have the funds and therefore the deal is more likely to go through. Even if a seller has multiple offers, you may gain an advantage over the others if they haven’t shown proof with a pre-approval. This letter is also paramount if you’re buying in an area that’s high in demand, as some sellers may not even consider working with buyers who aren’t pre-qualified. To make yourself stand out, even more - work with a reputable lender. If you aren’t sure who to go to, ask your real estate agent for referrals.
3. Savvy Sellers Want to See Proof of Approval
An additional reason why top real estate agents request pre-approvals from buyers is the fact that an increasing number of sellers actually require it. This is because sellers only want to work with serious buyers who aren’t going to waste their time. They want security in knowing that the buyer is serious and financially capable of affording their property, which is exactly what the pre-approval letter shows.
Of course, you can attend an open house because agents cannot screen walk-ins for this, but if you want a private showing, don’t take it personally if the agent asks you for your pre-approval letter first. Plan on making an offer? Your letter of approval will ease the seller’s mind because they won’t have to just take your word for being able to afford their property.
4. Pre-approval Reduces Condition Time
Obtaining a mortgage takes a lot of time, as you have to prove your income, dig up financial records, and meet all requirements of the lender. Fortunately, if you get pre-approval ahead of time, this process can actually be shortened considerably. While this takes a lot of stress off of your shoulders, that’s not the only advantage.
Sellers absolutely love buyers with a mortgage pre-approval letter, as it decreases the amount of time they have to wait between accepting an offer and removing all of the contingencies.
5. A Good Real Estate Agent Will Not Work With Un-approved Buyers
Real estate agents work hard for their clients by showing them properties, negotiating for them, and helping you navigate through the buying process. With all the time they invest in you, it’s easy to see why they want to make sure you’re a serious buyer from the start. This provides them with security that you’re not casually browsing and can actually afford the homes that you want them to show you.
To ensure a more enjoyable experience for both you and your agent, get pre-approved before beginning the process. Your real estate agent will greatly appreciate you having a mortgage pre-approval letter and will be able to get started assisting you much more quickly.
Pre-Qualification Letter vs. Pre-Approval Letter
While a mortgage pre-approval and pre-qualification letter might seem like they are interchangeable documents, they are actually very different from one another and often befuddles even industry members. By understanding these differences, you can avoid major road bumps in the buying process.
The process of pre-qualification only takes a few minutes. A mortgage pre-qualification gives you a slight idea of what kind of loan you might qualify for. Being an informal estimate, this is ideal for buyers are in the very initial stages of buying a home.
A mortgage pre-approval is a more intensive process that requires a credit check, financial verification, and proof of down payment, a pre-approval is essential if you’re ready to buy a house. It provides a far more accurate idea of what you can afford so you can begin looking at homes within your realistic price range. A pre-approval letter will also declare your purchasing power once you do find a property that you like.
Unfortunately, the term of pre-qualification and pre-approval are being used interchangeably and there is always great confusion between the two. At the end of the day, the lender is the only entity that can actually approve a mortgage and it’s best to get a mortgage pre-approval commitment letter from them.
A mortgage commitment letter is going to cover all the conditions that need to be in place for the mortgage to be funded, which makes the mortgage commitment letter a more valid document than anything else.
How long is a Mortgage Pre-approval Letter Good For?
Interest rates tend to fluctuate based on many variables and lenders are only able to guarantee to the home buyer a fixed rate for a short period before buying a house. Typically banks provide a “rate-hold” for 90-120 days after pre-approving someone for a mortgage.
Receiving a guaranteed interest rate until you find your new home is another benefit of getting a mortgage pre-approval/commitment, but you need to be careful about not to do things that could jeopardize your pre-approval.
What Can Hinder a (pre) Approved Mortgage?
<br />
Changing Jobs or Quitting Your Job
Opening or Closing a Line of Credit Account
Falling Behind on Payments/Missing Payments
Opening a New Credit Card or Obtaining a Loan
Closing Credit Cards
Changing Your Financial Behaviour
Withdrawing Large Amount of Money from Chequing or Savings Accounts
Concealing Down Payment Gifts
Although having a mortgage pre-approval is security knowing how much you can afford, there are rules and stipulations you must follow once your approval is finalized. In most situations, you must pay very close attention to your finances and major life-changing events such as changing jobs or befriending a cosigner. This means continuing to make payments of your credit obligation on time and avoiding any new loans or credit cards that may affect your <a href="http://www.fcac-acfc.gc.ca/eng/resources/publications/creditloans/pages/understa-comprend-1.aspx" target="_blank">credit score</a>.
Any changes that occur in the time between having your offer accepted and closing can cause a re-examination of your pre-approval and result in a derailed loan. With the utmost certainty, lenders will verify employment and creditworthiness just prior to releasing the funds. Some specific activities you should avoid include:
Final Thoughts
As you can see there are many elements of buying a home and being well prepared in advance is going to serve you well along your journey. Having a mortgage pre-approval letter in place is not a prerequisite to purchasing real estate.
Although sometimes it can be perceived as an extra hoop that others just want home buyers to jump through. By now I trust that you can see that foremost it is really going to benefit the home buyer by being organized and having the right mortgage team in your court.
Be sure to ask your real estate agent for references and recommendations of banks and mortgage brokers that their clients had a great experience working in the past. You can have peace and comfort knowing that they will only steer you towards those individuals who provide an exceptional job to get your mortgage approved.
<img src="/userFiles/840/image/blog/importance-of-a-pre-approval-letter-social.png" alt="Reasons Why Getting a Mortgage Pre-approval is Important" width="600" height="314" style="display: block; margin-left: auto; margin-right: auto;" />2017-09-12T10:28:00-07:002019-01-14T12:45:27-07:00Joe Samsontag:joesamson.com,2012-09-20:3590Reasons Why You Need a Mortgage Pre-approval<img style="float: right;" src="/userFiles/840/image/blog/reasons-why-you-need-a-mortgage-pre-approval.png" alt="reasons why you need a mortgage pre-approval" width="450" height="931" />When making financial decisions that will heavily impact your life, such as buying a home, it’s important to be informed before jumping into a decision and making sure ahead of time that you are <a href="https://www.joesamson.com/blog/are-you-ready-to-buy-a-home/" title="Read: Are You Ready to Buy a Home? [INFOGRAPHIC]">ready to buy a home</a>.
This means asking questions and using all resources available to understand more about the commitment of purchasing a property. To gain this understanding, the first (and arguably the most important) step is to determine how you will pay for it. While paying all cash is ideal because it eliminates the need to pay interest, this isn’t something most people can do. This is when the majority of home buyers turn to obtaining a mortgage so they can secure the funds they need to purchase a home.
Fortunately, as a buyer, you have many <a href="http://www.canada.com/business/understanding+your+mortgage+options/3671622/story.html">mortgage options</a> available to choose from. You will find that each of these is different, as some will require more money down while others may have strict requirements dependent on their financial history.
To determine which is best for your situation, getting pre-approval for a mortgage is crucial. In fact, doing this before you ever look at homes is highly recommended by real estate agents and it can even help streamline the entire buying process.
With awareness of the fact that you need to get pre-approved for a mortgage, the next step is to understand more about the process of how to go about getting a mortgage pre-approval. The following guide will help you get started and anticipate what to expect. The information you learn through this can help you have a more enjoyable experience and smoother transaction in the future.
Reasons for getting a mortgage pre-approval:
Negotiate Better Terms & Price
Build Trust & Win Multiple Offer Situations
Take Possession of Your New Home Faster
Get Your REALTOR®’s Attention & Priority
Seller May Request Proof of Financing
Establish a Laser Focused Search
Avoid Disappointment and Frustration
Interest Rate Increase Protection
What is a Mortgage Pre-approval?
Each lender has a specific set of guidelines that they use to determine whether a borrower will <a href="https://www.joesamson.com/blog/how-not-to-screw-up-your-mortgage-approval/" title="Read: How NOT to Screw-up Your Mortgage Approval">get approved for a mortgage</a>. These guidelines are more in-depth than those associated with a pre-qualification, as that only involves a superficial look at you as the borrower.
Due to the fact that requirements can be so different with each lender, it’s easy to see why doing your own calculations is not recommended. An official pre-approval means that the lender has gone through your financial information and qualified you as a borrower. This will give you a more accurate idea of what your interest rate will be, as it will be based on your specific information as a borrower.
It’s always recommended to get pre-approved before you ever start looking at homes so you have a more realistic and accurate idea of what you can afford. In addition to saving money, it’s one of the most beneficial things you can do as a responsible buyer. The length of time it takes to get pre-approved will is usually no more than a few days once you have provided all of the supportive documents
Most mortgage pre-approvals and <a href="http://www.federalreserve.gov/pubs/lockins/">interest rate holds are guaranteed</a> for a period of 3-4 months, which is why it’s recommended to start the process up to 120 days before you’d like to purchase a property. By taking care of this early you will be able to look at homes with more peace of mind and avoid the potential stress of dealing with offer negotiations at the same time.
Before filling out any paperwork, it’s important to gather financial documents that support your ability to afford a home. This may include paperwork proving income, proof, and source of down payment funds, asset information, and liability information. In addition this, you will need to provide personal information such as your social security number or SIN number, so the lender can review your credit score.
How Do I Get Pre-approved for a Mortgage?
To get the pre-approval process started, you will need to speak with an experienced mortgage broker (or lender) who can help you. If you aren’t familiar with any professionals you can rely on, then ask your REALTOR® for recommendations.
Once you meet with the mortgage broker ask them questions to help you learn more about their rates and programs. If you aren’t interested in interviewing different lenders, then go online and research banks or mortgage brokers.
...if you work with a real estate agent who doesn’t mention getting a pre-approval letter at all, then they may not have the expertise that’s so important in this type of profession.
While doing this research is pretty straight-forward, it’s important to keep awareness of lenders that make things seem “too easy”. If you speak with any lender that claims they can provide you with a pre-qualification letter without taking a look at your financials, do not go with them.
Also, if you work with a real estate agent who doesn’t mention getting a pre-approval letter at all, then they may not have the expertise that’s so important in this type of profession.
How Much Mortgage Can You Afford?
With most buyers, there’s a considerable difference between what they think they can afford and what they actually can afford. Getting the mortgage pre-approval will point you in the right direction, as it will give you the best idea of what you can realistically afford.
However, it’s important to be aware that some lenders approve buyers for less than they want to spend while others will approve buyers for more. This is when it’s important to be self-aware of your finances and what you’re genuinely comfortable with spending on this significant purchase.
The hard numbers you receive from the lender will be a great starting point that allows you to narrow down your search for homes. Knowing your price range will give you an idea of how many rooms you can afford, which area you might want to live in and if you can genuinely afford what you want. For most people, this is when shopping for a home becomes more real and they can finally picture themselves as homeowners.
By taking the time to get pre-approved, you will ultimately be helping yourself avoid many pitfalls that first-time buyers run into. For instance, knowing your financial position can help you avoid looking at (and falling in love with) homes that you simply cannot afford.
When you’re ready to start looking, analyze the approval letter and monthly payment information provided by your lender. Once you’ve determined the maximum that you’re content with, the down payment and closing costs can be calculated so you can look at homes within your ideal budget.
Obtain a Mortgage Pre-approval Letter
<a href="https://www.joesamson.com/blog/the-importance-of-a-mortgage-pre-approval-letter/" title="Read: The Importance of a Mortgage Pre-approval Letter">A pre-approval letter</a> is contingent on you as the borrower keeping your credit score and finances the same until you close. This is why most lenders warn their clients against making large purchases or taking out new credit cards, as these types of transactions can affect their credit score and financial situation.
As long as they do this, the pre-approval letter will play an important role in the buying process. Sellers will appreciate the fact that a qualified buyer is looking at their home, and if you end up competing with another buyer, this could be what helps you secure the property. The pre-approval essentially shows that you are qualified and serious about purchasing.
Negotiate Better Terms & Price
One common and frustrating situation for sellers is dealing with buyers who aren’t qualified to buy their home. This wastes time because it generally results in the deal falling through and other potential buyers moving on.
As a pre-approved buyer, sellers will appreciate the fact that you’ve proven your financial backing. Beyond that appreciation, this approval can act as a negotiation tool because you’ve already gone through the work of proving your ability to buy. This entices the buyer to negotiate with you, as they won’t have to worry that the deal will fall through because you won’t get approved for a mortgage.
Your pre-approval may also persuade the seller to accept your offer rather than a higher one from a buyer without the same approval. In addition to this, an eager seller may be willing to change their terms of the sale due to the fact that your purchase would be a done deal.
With the pre-approval being such a strong negotiation point, it’s easy to see why top real estate agents request that their clients take care of this before they are shown properties.
Build Trust & Win Multiple Offer Situations
The <a href="https://www.joesamson.com/calgary-southeast/" title="Search Homes for Sale in SOUTHEAST Calgary">real estate market</a> is always changing, therefore you can never anticipate whether or not a home is going to attract offers from multiple buyers at the same time. However, it’s important to be prepared just in case this situation does occur.
A pre-approval letter from your lender is just what you need, as this will make you stand out. Sellers see this letter as security, not only because you have proven that you can obtain financing, but also because you’ve proven that you’re serious about buying the property. As a result, you will be one of the top candidates they consider accepting an offer from.
Take Possession of Your New Home Faster
Finally, your offer has been accepted; what next? If the home inspection turns out to not show any issues, then you’ll likely anticipate moving into your new home. While packing your bags is a great way to get started, there will be some waiting time before your new keys are in hand.
Most of this wait time is the seller deciding whether or not to accept your offer, which will generally be minimized with your pre-approval letter. Even more beneficial is the fact that your bank will already have the paperwork and documents that are needed to approve the loan, so you can close the home as quickly as possible.
To gain insight into what happens after your offer is accepted, the lender will need to have all your information in order to determine if you can afford the property. Having already done this legwork to get the pre-approval, your lender will be able to move on to requesting an appraisal of the property. Once everything is in order, you will finally be able to close the home, likely without having to wait the 45-60 days that most average buyers do.
While choosing to get pre-approved for a mortgage is your decision, it’s a smart and beneficial move on your part. If you are serious about buying, it’s the very first move you should make. A top real estate agent will tell you the same thing, making it something you don’t want to wait to take care of.
Get Your REALTOR®’s Attention & Priority
<br />Getting pre-approval for a mortgage is not something that is guaranteed. Even if you think your finances are in order and you’ll be approved for a specific amount, you won’t know for certain until you have that letter in hand.
To avoid frustration and stress for you, your REALTOR®, and the seller, don’t ask to be shown properties until you’ve taken time to get your pre-approval taken care of. Real estate agents want to spend quality time showing you potential homes you could buy, not homes you may only dream of living in.
If you get pre-approved for a mortgage, you will have the attention of your real estate agent if they are caught between deciding which client they can make time for. By showing that you are ready and able to buy, your real estate agent will know they aren’t wasting their time or yours by showing you properties.
Seller May Request Proof of Financing
There are many additional reasons, aside from time savings, why real estate agents request their clients obtain pre-approval before showing them homes. One of the most common is because the seller often requires it, as they don’t want non-qualified buyers walking through their home. This is most common with <a href="https://www.joesamson.com/calgary-luxury-homes/" title="Search LUXURY HOMES for sale in Calgary">luxury real estate</a>, although this seller preference is seen with budget-friendly homes as well. For these reasons, don’t take it personally when you are requested to have pre-approval done before you’re allowed to view a home.
An added benefit of having this done is that you’ll be in a better position to present an offer on a home that you would like to buy.
Sellers take buyers who have pre-approval letters readily available much more seriously because they have shown their ability to pay. Without this, the seller would never know if you would be able to get financing for their home or if the deal with go through.
Establish a Laser Focused Search
You’re ready to buy and don’t want to waste time looking at homes that may be outside of what you can afford. By taking care of financing before you search, you’ll have an accurate idea of the amount you can spend on a home. This is due to the fact that your lender will analyze bank statements, pay stubs, your credit report, and all other necessary financial information to determine what you can borrow. With that information, you can establish a much more accurate price range so you can search for homes you can afford with confidence.
One additional highlight of knowing your budget is the fact that you will be able to narrow down your options for properties. This will give you a limited selection to choose from so your search can be expedited.
Another advantage of knowing how much you can spend is that you will be less likely to find properties you like but cannot afford. You will only see homes that fit your budget so the entire buying process is overall more enjoyable and efficient.
Avoid Disappointment and Frustration
When you think about applying for a pre-approval, you may be intimidated by all that are involved. From digging out your tax returns to proving your income, it can be a lot to take in at once.
However, this shouldn’t be a reason to postpone doing the pre-approval until you actually find a home that you like. To avoid disappointment and frustration, you should embrace your inner-strength and put all of your documents together. Once you have done this, you’ll likely find that the process isn’t as intimidating as you thought it would be.
After the application is completed and you’ve been pre-approved, you will know exactly what your realistic budget for a home and taxes is. This means you won’t waste time looking at listings that are far outside of your budget, such as homes that cost $400,000 whereas you’re only approved for $350,000.
Ultimately this saves you from disappointment when home buying, making it clear why real estate agents request you do this from the very start. By doing something as simple as applying for pre-approval now, you will do yourself a great service that will make shopping for a home easier down the road.
Interest Rate Increase Protection
Most pre-approvals for mortgages provide buyers with a 90-120-day rate guarantee to protect them in the event that rates increase when searching for a home. This essentially allows you to lock in a rate so you can shop for homes knowing you won’t see an increased rate surprise when you’re ready to buy.
However, if interest rates decrease while you’re shopping, most lenders will honour that rate instead. If no other reason compels you to obtain a pre-approval, this “lock-in advantage” may be just what does.
Final Thoughts
Buying a home is a huge financial decision and therefore should be treated with careful consideration. Real estate agents understand this, which is why they are likely to request their clients take care of this before they are shown homes.
Walking through properties before doing so will be pointless as well as a waste of time for both you and your agent. If you are serious about buying, then prove it by obtaining your pre-approval as soon as you can. Once you know how much you can afford, you’ll find that <a href="https://www.joesamson.com/blog/category/home-buying-tips/" title="Home Buying Tips">buying a home</a> is less stressful and you’re able to enjoy searching with confidence.
<img src="/userFiles/840/image/blog/reasons-why-you-need-a-mortgage-pre-approval-social.png" alt="Mortgage Pre-approval" width="600" height="314" style="display: block; margin-left: auto; margin-right: auto;" />2017-08-24T10:35:00-07:002018-03-12T13:22:09-07:00Joe Samsontag:joesamson.com,2012-09-20:3591How Much Real Estate Can You Afford?<img style="padding: 10px; float: right;" src="/userFiles/840/image/blog/how-much-real-estate-can-you-afford.png" alt="How Much Real Estate Can You Afford?" width="420" height="630" />One of the first <a href="https://www.joesamson.com/blog/are-you-ready-to-buy-a-home/" title="Read: Are You Ready to Buy a Home? [INFOGRAPHIC]">things that you should be doing when buying a home</a> is figuring out how much you can comfortably afford without putting any stress on your monthly budget.
Once you have settled into your new home it's going to be rather difficult and costly to change your mind about the home you have just bought. By reading this article, you will be able to figure out how much real estate you can truly afford to buy.
Questions to keep in mind when setting a real estate budget:
Is it going to change my lifestyle?
Can I live within my means?
What is the maximum mortgage payment that I feel comfortable with?
Have I created a monthly budget?
Is it going to cause stress or peace in my life?
It’s fairly easy and straightforward to find out whether you even qualify for a mortgage. A responsible and well-planned home buying process must start out with <a href="https://www.joesamson.com/blog/reasons-why-you-need-a-mortgage-pre-approval/" title="Read: Reasons Why You Need a Mortgage Pre-approval">getting a mortgage pre-approval</a> so that you can benchmark your decision based on your purchasing power.
Yes, as weird or perhaps somewhat belittling it may sound - we all have certain financial limitations that we need to keep in mind and not to exceed. Even the elite home buyers need to draw the line in the sand when they are looking at <a href="https://www.joesamson.com/calgary-luxury-homes/" title="Search LUXURY HOMES for sale in Calgary">luxury homes</a> in their local real estate market.
In my years of experience of working with all categories of home buyers, I have found that those who have stayed within their means, turned out to be the most satisfied with their home purchase.
Owning a home comes with many aspects of responsibilities, including the financial burden that buyers must keep in mind before they sign on the dotted line. Monthly mortgage payments, property taxes, insurance fees, common maintenance costs can add up really quickly.
Not having enough money set aside in your budget to allow you to enjoy a certain level of lifestyle could really dampen your entire home ownership experience.
Life Beyond Owning Real Estate
It’s so easy to get depressed these days with all the negative news that we’re seeing on TV every day. A home should be a place where we go to find shelter, to relax and to reenergize ourselves, perhaps to have a bit of fun and to invite friends and family over.
I’ve been in far too many homes which were by no means entry-level homes, yet I’d found that while it looked great on the outside, the owners had minimal furniture inside the house. It’s quite demoralizing to visit a home where the owners can’t afford to have sufficient amount of furniture to make it feel like an enjoyable place to be in.
But not having enough furniture inside a house is only a first world problem. Making sure that you can still have enough money for clothes and entertainment is going to be a great contributor to the level of satisfaction you’ll have in life.
Embrace Living Within Your Means
For many new homebuyers in today’s real estate market, the phrase “living within your means” is as foreign as the authentic hair on Donald Trump’s head. While our parents used to live with the belief of saving first and then spending what you’ve got - today’s generation is trying to live their parent’s dream by spending first and then paying for it later.
Unfortunately, this type of thinking often gets homebuyers into financial problems and creates extraordinary stress in their lives. Money problems usually snowball into other kinds of problems like having issues with relationships and the stress could also lead to health challenges if you are not careful about calculating how much real estate you can afford.
While you may easily afford your monthly mortgage payments while you’re having a well-paying job - what would happen if that income source would stop all of a sudden? Can you go on and make the mortgage payments for two, six or maybe 12 months if needed?
Having peace of mind knowing that you can easily afford your home is going to serve you well. Especially knowing that you have enough savings set aside when unexpected financial challenges happen.
How Banks Calculate Mortgage Approvals?
For many decades now, banks have come up with a formula to calculate people’s affordability levels. This formula is called the <a href="http://www.investopedia.com/terms/g/grossdebtserviceratio.asp">GDSR (Gross debt service ratio)</a> and <a href="https://www.cmhc-schl.gc.ca/en/hoficlincl/moloin/hopr/mupr_015.cfm">TDSR (Total debt service ratio)</a>.
Banks have statistically proven that if they purposely limit how much financial debt people take on, then the likeliness of them defaulting on their mortgage is significantly reduced.
The GDSR takes into account all of the monthly expenses associated with the property and compares it to your monthly income before taxes.
Banks and conventional lenders like to make sure that homeowners don’t spend more than 32% of their gross monthly income on housing costs.
What is included in the GDSR calculation? When the gross debt service ratio is used, it takes into consideration the following expenses: 50% of all condo fees (if applicable), heating costs, property taxes and mortgage payments.
TDSR - total debt service ratio is another formula that lenders use when someone applies for a mortgage. As the name of the formula suggests, it adds up all the debt that you may have in addition to the expenses of owning a home.
The TDSR formula includes all credit card, car loan payments and any other types of loans that you may be responsible for. The maximum amount that banks prefer limiting their client’s mortgage payment amount is to be below 42% of the borrower’s gross monthly income.
Assuming that you have sound employment and a good credit history, along with a decent credit score, you should be able to easily figure approximately what mortgage amount the banks will consider approving you for. Below is a quick example of how banks may approach your mortgage application.
Mortgage Calculation Example
Cost of House
$500,000
Down Payment (5%)
$25,000
Mortgage (95% LTV)
$475,000
CMHC Insurance fee (3.6%)
$17,100
Total Mortgage
$492,100
Monthly Mtg. Payments (at 3% intr.)
$2,328.84/mo.
GDSR Calculation Example
Heat
$150
Condo Fee (50% if applicable)
$200
Property Taxes
$250
Mortgage Payments
$2,328.84
Total Expenses
$2,928.84
Based on the above calculation, you would be required to have a gross monthly income of $9,152.63 to purchase a $500,000 home with 5% down payment.
TDSR Calculation Example:
Car Payment
$530
Credit Card Payment
$200
Other Loan Payments
$180
Mortgage & Housing Costs
$2,928.84
Total Payments
$3,838.84
The above TDSR calculation works out to 41.9% of the gross monthly income which is just below 42% of the gross monthly income of $9,152.63
How Much Mortgage Payments Can You Really Afford?
Just because the bank had successfully approved your mortgage application, it doesn’t mean that they are providing you with a safety net. It’s somewhat amusing that banks are willing to trust someone with hundreds of thousands dollars and project that they will have the same employment for 25-30 years to come.
Sometimes it is just crazy for home buyers without any savings to use all of their approved mortgage amounts. In the following example, you can see that there isn’t much room for error if the homebuyer did not have any money set aside for rainy days.
Discretionary Income Calculation:
Gross Monthly Income:
$9,152.63
Estimated Income Tax (36%)
$3,294.95
Mortgage & Housing Costs
$2,928.84
Loan & Credit Card Expenses
$910
Discretionary Money left to spend
$2,618.84
While it may sound like life's a peach with having an income in excess of $100,000 a year - it may not be very wise to tap out the mortgage amount that the banks might be willing to provide.
After using data of average housing prices, debt levels and so on, it appears that someone who is considered to be a high-income earner may end up being worse off than someone earning much less and living within his means.
There are other expenses that bank don’t keep in consideration, yet they play a very important role in the quality of everyone’s life. Most of us could probably live without some of these expenses, but being accustomed to the western world, these items below have become a normal our lives.
Therefore some of the figures in the list is an approximate estimate only to illustrate their presence in our everyday lives.
Common Monthly Expenses
Internet & TV
$120
Telephone
$80
Utilities (water & power)
$200
Fuel
$200
Car Insurance
$120
Home Insurance
$110
Fitness
$50
Dining
$200
Coffee
$100
New Clothes
$100
Kid's activities
$150
Daycare
$650
Entertainment
$150
Groceries
$1,000
Home Maintenance
$100
Car Maintenance
$75
Vacation
$250
Total Expenses
$3,655
To maintain a comfortable quality of life, it turns out that one might need to spend $3,655 every month above and beyond housing costs and other loan payments. In the above example, it turns out that based on our calculations, you can be at least $1,037 short at every month if you were to buy the house that the bank had approved you for.
Final Thoughts
It is every individual’s personal decision to figure out how much money they need to set aside to have peace of mind. Some will want to save up enough to be able to maintain their lifestyle for many months in case there is a disruption to their income source. Or others feel it’s important to set aside at least 10% of their income for future use or to invest it.
There is no right or wrong answer when it comes to personal savings. But as long as you figure out your own comfort level apart from the financial institution’s approval formula, you should be very comfortable living in your new home knowing that you are not going to be financially stranded.
<img src="/userFiles/840/image/blog/how-much-real-estate-can-you-afford-social.png" alt="How Much Mortgage Can I Afford?" width="600" height="314" style="display: block; margin-left: auto; margin-right: auto;" />2017-07-10T10:49:00-07:002018-03-12T11:46:26-07:00Joe Samsontag:joesamson.com,2012-09-20:3592The Purpose of a Final Walkthrough in Real Estate<img style="display: block; margin-left: auto; margin-right: auto;" src="https://assets.site-static.com/userfiles/840/image/blog/Final-walkthrough/final-walkthrough-1.jpg" alt="Final Walkthrough in Real Estate" />
When closing real estate transactions, sometimes an agreement on the price isn't the biggest obstacle for the buyer and seller to overcome. One oversight many buyers have is with the condition of the property, as some anticipate it to be different than what they see when they’ve taken possession. Unfortunately, this generally results in a dispute, although even in situations where concerns are valid, there’s not much can be done when the transaction has closed.
By becoming familiar with the Purchase Agreement, the buyer can better understand what these specific terms and conditions include. When an agent explains this to their clients, this can help avoid frustration for both parties upon Completion Day. To further explain the wording of this contract and what it means for the buyer, the information below can help.
Understand What You Sign Off On
Most purchase agreement contracts will state in formal legal terms that the final walkthrough is done to show buyers what condition the property can be expected to be in upon possession. As soon as the contract is signed, the property should remain in the same or better condition when the offer was accepted. The terms and language used will differ based on local laws, so it’s important to consult with your real estate agent to determine the exact meaning of the fine print.
To put this in perspective, take a look at the example of the term found in the Residential Purchase Agreement that is used in Alberta by REALTORS®: “On Completion Day, the Property will be in substantially the same condition as when this contract was accepted and the attached and unattached goods will be in normal working order.”
<img style="display: block; margin-left: auto; margin-right: auto;" src="/userFiles/840/image/blog/walkthrough-clause.png" alt="Walkthrough clasue" width="900" height="232" />
As you can see, the adjective "substantially" gives some room for things to change. It essentially implies that normal wear and tear can be expected, as can small scratches or bumps caused by the process of moving.
The terms of the contract are incredibly important for both parties that are involved in the transaction. If the buyer is interested in adding additional terms, such as those that guarantee repairs will be done, then those must be agreed to and incorporated into the contract before both parties sign.
Spelling Out the Terms
<img style="float: right;" src="https://assets.site-static.com/userfiles/840/image/blog/Final-walkthrough/Spelling-Out-the_Terms-01.jpg" alt="Terms of a walkthrough" width="400" />
In most purchase contracts, the seller isn't required to make small repairs, take care of updates, or even clean up the property after it's under contract. The only exception to this is with appliances, as they must be in proper working order.
However, even in situations where an appliance doesn't work or there is damage in the home, the buyer may not be able to claim a breach of contract if it's discovered on the day of possession. In scenarios like these, the buyer will likely have to continue with the purchase and can only refuse to close if there is a "material breach of the agreement".
If this type of breach does occur, the first potential outcome is that the seller's lawyer would convince their client to give the buyer compensation, a monetary holdback, or a guaranteed repair to continue the sale.
In some situations, agents even recommend that a monetary holdback (such as $500) be incorporated into the contract to ensure the buyer has a predetermined amount set aside in the event that the property is not substantially the same. The unfortunate caveat with this is the fact that the majority of buyers are likely to take advantage of the holdback and it would become a loss for the seller.
The second outcome is that the seller does not take responsibility for the issue, which leaves the buyer with the only option to recover compensation in small claims court in the future.Of course with the time and energy required to go to small claims, most buyers would take this as a loss and end up paying for repairs or a new appliance out of their own pocket.
If you're the buyer, it's easy to feel like the contract takes the side of the seller. However, keep in mind this will favour you in the future when you decide to sell the property yourself. Ultimately the contract is set in place to help protect both parties.
Should You Make Time for a Walkthrough?
For those who do plan to do a walkthrough, this should occur within 24 hours the closing is finalized. This will ensure you don't walk through the home too early and potentially miss damage that occurs after you leave. It will also ensure anything that was supposed to be left behind (based on the contract) is in fact there. It's important that when you do this, the seller has vacated the home and taken all of their personal items with them. If anything has been left behind, it will be your responsibility to deal with it at that point.
Keep in mind that a final walkthrough before the closing is not the same as a home inspection. Occasionally home buyers tend to get carried away, and they expect to spend a long time looking at the details of the property. This is not the opportunity to climb into the attic or to inspect the furnace. It’s okay and recommended to do spot checks. However, during a walkthrough, you are only trying to determine whether the home has been still taken care of after the ink dried on the contract.
Making Sure that a Walkthrough is Effective
<img style="display: block; margin-left: auto; margin-right: auto;" src="https://assets.site-static.com/userfiles/840/image/blog/Final-walkthrough/Make_Sure_the-01.jpg" alt="Making sure the final walkthrough is effective" width="500" />
Many buyers are under the impression that scheduling a walkthrough will help them get a better idea of the condition of the home they're about to pay for. While this is partially true, going as far as to add an inspection provision into the contract before agreeing to buy is not a guarantee for a positive outcome. This is because most damage only occurs or is uncovered during the moving process. Unless the home is 100% empty when the walkthrough is done, it's very unlikely you'll see all holes in the walls, scratches on the paint, or flooring blemishes when you do walk the home.
If the buyer does insist on special tasks to be done before they take possession, such as removing junk from the garage or painting the walls, this must be agreed to and incorporated into the terms of the contract.
The buyer's lawyer should also designate a deadline and any provision for a monetary holdback as well. Additionally, repercussions for the work not being done as agreed upon should be clearly stated in the contract.
What to do if you Find a Problem During the Walkthrough?
From time to time, some issues do arise at the date of the final walkthrough. As already discussed, legally there is usually very little that can be done at this point. However, don't despair, as lawyers sometimes are able to find a common bridge between the seller at the buyer.
Most of the time a seller is a reasonable person and they will acknowledge their fault. Because lawyers are really good at explaining these situations, I'd say there is a good chance for the problem to be nabbed right away. But you will need to take action really fast by calling your lawyer right away and submitting some proof to him as well.
Final Thoughts - Making Your Decision
For the home buyer, the final walkthrough is a chance for them to see their new home right before they close. This gives them the opportunity to make sure it's in the same condition as it was when they first completed an inspection. For most, this offers peace of mind knowing exactly what they are investing in before the deal is completed.
While the final walk is not mandatory, we recommend it, so there are no surprises when the buyer walks into his or her new home. Although you may not have any intentions to complete a final walkthrough, we do recommend adding a term to the contract that says that the seller needs to guarantee you with an opportunity 24 hours before to complete a walkthrough. This will drastically reduce the chances of the seller not respecting (your) property after the documents are signed.2017-06-17T11:01:00-07:002018-10-26T11:36:35-07:00Joe Samsontag:joesamson.com,2012-09-20:3593Top 10 Reasons Why Your Home isn't Selling!<img style="display: block; margin-left: auto; margin-right: auto;" src="/userFiles/840/image/blog/top-10-reasons-why-your-home-in-not-selling.png" alt="Top 10 Reasons Why a Home is Not Selling" width="600" height="900" />
Homeowners who are in the market to sell their home tend to face several challenges throughout the selling process. Many of these challenges are not in your control: unrealistic home buyers, <a href="https://www.joesamson.com/blog/calgary-real-estate-market-statistics/" title="Calgary Real Estate Market Statistics">local market conditions</a>, low-ball offers, and more are just some examples.
However, there are also many things that are in your control. You may not know it, but there are factors that can also scare away potential buyers. Even the most minor details can scare away some buyers, while other factors are more significant. If you are having trouble selling your home, these are probably the top 10 things that might be scaring away potential buyers.
1. Asking Above Market Value
One of the biggest and most common mistakes in selling property is overpricing. An <a href="https://www.joesamson.com/blog/ridiculous-reasons-to-overprice-a-home/" title="Read: Ridiculous Reasons to Overprice a Home">overpriced home</a> is a guaranteed way of scaring away potential buyers, and it’s unlikely that they will ever come back for a second look.
Most buyers won’t waste their time inspecting a home that has too high of a selling price. Potential buyers are aware of the selling value of your home because they’ve done their research on the internet and hopefully they’re working with a competent real estate agent whose job is to verify the market value of the home. They have access to resources at their fingertips that will instantly tell them if your home is overpriced. If your home is $15,000 more than others in the same neighbourhood, they will most likely assume that your home is priced too high.
Avoid the use of internet tools such as <a href="http://dcrealestateguru.com/how-accurate-are-zillow-home-value-estimates/" target="_blank">Zillow’s Zestimate</a> in determining your home’s value. Your real estate agent is well equipped to provide a more accurate price point that will result in a sale of your home. Appropriate pricing is critical from the very beginning of the<a href="https://www.joesamson.com/sellers/" title="Sell Your Home"> selling process</a>, otherwise, this can cost you time and money.
An overpriced home is a guaranteed way of scaring away potential buyers..
2. Poor Quality Photos and Video
The internet is usually the first stop many people make when researching about almost anything: from booking vacations to books, and even real estate. More than 90% of home buyers start their research online, and what they find on the internet is usually what will prompt them to call up a real estate agent to schedule a visit to the property. In the same vein, if they don’t like what they find online, you can be sure they won’t be scheduling a visit to see your home.
Poorly taken photographs and videos is a sure way of scaring off potential buyers. Typically, an experienced realtor will ensure that you have excellent photos and videos of your home. As a seller, it is also recommended to ask the realtor what kind of photo equipment they use and even ask for a sample of their work. If you find that the quality of media they produce is low, you can supplement it by hiring a professional photographer of your own.
3. Dirt and Grime
You’ve probably walked through someone’s house and thought to yourself, “<a href="https://www.joesamson.com/blog/that-house-smelled-so-bad-but-there-was-more-than-the-smell/" title="Read: That House Smelled So Bad... But There Was More Than the Smell">Wow this place is filthy</a>!”. If this has happened to you in the past, you’ve likely done everything you could to get out of there as soon as possible. Imagine if a potential buyer walks into your home and thinks the same thing?
When inspecting a home for sale, some buyers will even walk through your bathroom and open kitchen equipment such as the oven and refrigerator. The presence of dirty burners and oven filled with burnt food and grime will not give a lasting impression, causing the buyer to want to leave immediately. It gives a poor perception of the owner, causing the buyer to think that the home has been neglected. What’s worse is that it will also leave them wondering what else in your home you haven’t been taking care of before you put it on the market.
4. Foul Odour
You may not notice any foul odours in your home, but that’s because people tend to develop an immunity to certain smells over time. If you’ve been living with pets over the last few years, you probably won’t notice that there are any pet odours lingering in your home. The foul scent of pet odours is a surefire way of scaring off potential buyers, killing off what could have been a sale.
If a buyer walks through your front door and detects a bad smell, this will send them running away as fast as they can. They might not even want to complete the entire inspection especially if the odours are unbearable.
The most common sources of bad odours include spoiled food, trash, cigarettes, and pet odours. Before you put your home on the market, ask a realtor or someone else who doesn’t live there to come in and check if they identify any unpleasant scents. If they do, address the problem before inviting potential sellers into your home.
5. Too Much Clutter
One of the top things any real estate agent would recommend to a seller is to <a href="http://www.hgtv.com/design/decorating/clean-and-organize/stop-household-clutter-15-things-to-get-rid-of-right-now-pictures" target="_blank">remove clutter</a> before putting their home on the market. Your home may have all the fixing of a <a href="https://www.joesamson.com/calgary-luxury-homes/" title="Search LUXURY HOMES for sale in Calgary">luxury home</a> and is in a prime location, but if it’s filled with clutter this will scare away potential buyers.
<a href="https://www.joesamson.com/blog/staging-challenges-of-selling-real-estate/" title="Staging Challenges of Selling Real Estate">The presence of clutter</a> makes it difficult for buyers to envision themselves living in your home. A simple and effective way of getting rid of things you don’t need is by donating them to a charity.
6. Personalized Décor
While personalized décor may look great in your current home, it’s time to remove it when you are ready to sell. Once you put your home on the market, ask yourself if something in the house is something that a potential buyer would like to see. It’s unlikely that any buyer would appreciate personalized décor the way you have. Remove any personal items hanging on the walls, and paint the walls with a neutral colour.
7. Presence of Mold
There is never any occasion when the presence of mold is acceptable. It’s definitely one of the top reasons that you could be scaring away a potential buyer. Aside from being unsightly and disgusting, mold is detrimental to human health. You should never sell a home that still shows signs of mold; the best way to avoid this is to schedule mold inspection.
Most homeowners aren’t aware that they are living in a house that has a mold problem. Mold can thrive in many areas that are not easily visible to the human eye. The attic is one of the most common areas that molds will attack, including ventilation fans as well.
8. Nonfunctional Components
Major home components are the air conditioner, furnace, roof, electrical system, and windows. These components also require the most amount of money to repair or replace. Selling a home with nonfunctional components will scare off potential buyers.
Keep in mind that most home buyers aren’t looking to shell out much more money after they’ve just spent on a new home. One of the worst things that can happen to a new homeowner is to have to pay for repairs a few weeks or months into their move. Repairs for major home components can cost anywhere from several thousand dollars up.
9. Still Showcasing Grandma's Furniture
Most home buyers won’t shell out money on a home that they need to update later on. In some cases, outdated décor can scare away potential buyers. Despite requiring inexpensive repairs and minor updates, many buyers don’t want to have to shoulder the responsibility of doing the updates themselves.
Before you<a href="https://www.joesamson.com/sellers/" title="Sell Your Home"> sell your home</a>, ask for third-party opinions of your home décor. Ask for the honest opinions of young people, even including millennials who these days have more purchasing power and are in tune with the pulse of what’s trendy. Even minor updates such as adding new carpets, installing new light fixtures, or getting rid of old wallpaper can make a big difference and increase your chances of selling your home in a shorter amount of time.
10. Unattractive Curb Appeal
When inspecting a home to buy, potential buyers will usually do a drive-by for the properties that they are interested in. They do this to check out how the exterior of your property looks, while also inspecting the neighbourhood. It’s always in your best interest to make sure that your home has exceptional curb appeal.
Even if the interior of your home may look better than others in the community, having poor curb appeal can scare off potential buyers. This can easily be addressed by ensuring that you have well-groomed landscaping, planting bright flowers, and ensuring that the exterior of your property is always clean.
Final Thoughts
Finding a buyer isn’t always easy, even if you have a beautiful home in a stunning location. While pricing your home has a big impact on attracting potential buyers, the last thing that you need as a seller is to scare away buyers with problems that you could have addressed early on.
These are the most common issues that you need to keep in mind when preparing your home to sell. By being aware of how a buyer experiences the visit to your home, it will most certainly help you to realize your plans much faster than you might have thought!2017-06-02T11:08:00-07:002018-02-18T18:53:34-07:00Joe Samsontag:joesamson.com,2012-09-20:3594Are You Ready to Buy a Home? [INFOGRAPHIC]The idea of buying your first home can be incredibly exciting, especially considering the fact that your monthly payments will no longer be lost on rent. However, making this investment requires focus, dedication, and a willingness to learn what’s necessary to get through the buying process. With these qualities and an eagerness to be a responsible homeowner, you’ll be on your way to having a much smoother experience with real estate.
<img src="/userFiles/840/image/blog/ready_to_buy/are-you-ready-to-buy-a-home-infographic.png" alt="Ready to buy a home checklist" width="550" height="1254" />
Whether you’re just beginning the buying process by searching for homes online or have gone through the steps to <a href="https://www.joesamson.com/blog/how-much-real-estate-can-you-afford/" title="Read: How Much Real Estate Can You Afford?">determine your budget</a>, there are many more steps to take before you’ll be ready to make an offer.
First, it’s important to recognize how emotionally and financially ready you really are. Is this just a dream for now or do you want to make this happen in the near future? If you’re ready to make this a reality, <a href="https://www.joesamson.com/blog/calgary-real-estate-market-statistics/" title="Calgary Real Estate Market Statistics">take a look at the housing market</a>.
One of the best parts about getting involved in real estate right now is the fact that the housing market is strong. Interest rates are low, and with high rent prices, it’s often a better financial move to buy.
Once you’ve taken a closer look at how the market will play a role in buying, the next step is to prepare yourself for the buying process. <a href="https://www.joesamson.com/about/" title="Joe Samson & Associates Real Estate Team">Real estate pros</a> recommend looking at the signs below to see if you’re prepared to embark on this journey. With these, you’ll have a much better idea if you’re really ready to buy your very first home.
<img style="float: left;" src="/userFiles/840/image/blog/ready_to_buy/1-ready-to-buy.png" alt="" width="150" height="150" />Do You Plan on Sticking Around?
Do you have a steady job that you plan on staying at for a long time? If there is the probability of you relocating in the foreseeable future or aren’t set on a particular career path, then renting may be a much better option for you. Although buying might be more appealing than renting, but it can turn out to be more expensive and it’s more of a long-term commitment.
For example, if you decide to purchase a home, you will have to pay a commission to your local real estate agent for helping when you decide to sell your home, there could be significant prepayment mortgage penalties, lawyer fees, home inspection and appraisal fees when buying, and many other costs along the way. The advantage of renting is that you still get a nice place to live without all these expenses and the burdens of actually owning the property.
The last thing you want to do is turn your finances upside down just a few short months after you get the keys to your real estate. It is essential to consider what your 5-10 year plan is going to be. What city will you live in? Do you have plans on changing careers in the near future? If you don’t have answers to these questions or a 5-10 year plan, then you’ll only want to invest in a home that is affordable and will be easy to sell quickly if necessary.
However, short-term home ownership may not offer the investment potential that you may want. For example, you still have to pay for the down payment, repairs, upgrades, maintenance, and other expenses related to running the home and satisfying the mortgage. Considering those, paying for a home that you’re only going to live in for a few years may end up actually costing you more than renting.
If you are thinking short term, the only exception to buy vs. rent is when you are looking for an investment property. Real estate markets go through cycles every 5-7 years and if you are confident that prices are on the rise, then you may have a great opportunity at your hands to get a great return for your investments even in a few short years. Your REALTOR should be able to provide you with informative statistics on local real estate prices and trends.
<img style="float: right;" src="/userFiles/840/image/blog/ready_to_buy/2-ready-to-buy.png" alt="" width="150" height="150" />Are You Aware of What You Can Afford?
You’re likely aware that buying a home is one of the biggest purchases you’ll make in your life, which is why you have to carefully consider what you can afford. Just like you’d double check your finances before investing in a new car, you must know for certain what your maximum budget for a home is. If you can’t find the time to do this, then you may not be completely ready to make this move. However, if you are on top of your budget and how much you can spend, then that’s a good sign you may be ready to take the next steps towards ownership.
Before meeting with a bank, take a look at your income. On average your mortgage payment (including interest, insurance, principal, and property taxes) should be no more than 42% of what you bring in. Of course, spending less than this is ideal, as it ensures you have enough room in your budget every month for savings or unexpected expenses.
Not to mention insurance as well as <a href="https://www.joesamson.com/blog/calgary-property-taxes/" title="Read: How to Lower Your Property Taxes">property taxes</a> will increase over time, and if you can’t afford a big down payment, then mortgage insurance is going to add up. In addition to this, you should consider the fact that you may have to deal with chaining condo fees, HOA fees, high utility bills, repairs, upgrades, and other household expenses.
Another aspect of considering what you can afford is thinking about the options you have for loans. Interest rates can vary considerably, depending on whether you get a fixed or variable loan. To put this in perspective, if you had a 2.5% fixed 25-year mortgage for $350,000, your payments would be $1,568 a month.
On the other hand, if you had a 2.5% fixed 15-year mortgage for $350,000, your monthly payments would be $2,3320. In the long run, the second option actually saves you the most due to the fact that you’d save over $50,671 in interest.
<img style="float: left;" src="/userFiles/840/image/blog/ready_to_buy/3-ready-to-buy.png" alt="" width="150" height="150" />Have You Been Approved for a Mortgage?
While it would be ideal to pay for your first home in cash, that’s not the situation that most first-time buyers are in. Instead, you have to rely on a mortgage through one of the many lenders that are out there. It’s important to make this your first step before looking at homes, as this will ensure REALTORS take you seriously and you’re able to move quickly on a home that you like.
To get started, you’ll need to <a href="https://www.joesamson.com/blog/reasons-why-you-need-a-mortgage-pre-approval/" title="Read: Reasons Why You Need a Mortgage Pre-approval">get pre-approved</a> by answering questions about your income, debt-to-income ratio, and monthly expenses. In addition to this, you’ll likely need to have good credit to get the nod to start looking at homes.
There are many options available for home buyers to <a href="https://www.joesamson.com/blog/how-not-to-screw-up-your-mortgage-approval/" title="Read: How NOT to Screw-up Your Mortgage Approval">successfully approve a mortgage</a>. You can choose to visit your favourite bank or talk to a mortgage broker who can advise you about the different mortgage options among banks that have to offer.
<img style="float: right;" src="/userFiles/840/image/blog/ready_to_buy/4-ready-to-buy.png" alt="" width="150" height="150" /> Do You Haven Enough Money Saved?
Once you have pre-approval and know how much you can afford to spend on a home, it will be time to create a nest egg. This will not only help fund your down payment but will also ensure you can cover unexpected expenses and moving costs.
In addition to this, you’ll appreciate having some savings when it comes time for maintenance (such as mowing the lawn) and upgrades (such as replacing the roof) on your property. Even with strong do-it-yourself skills, you’ll have to invest in the tools, materials, and other equipment needed to get this type of work done.
<img style="float: left;" src="/userFiles/840/image/blog/ready_to_buy/5-ready-to-buy.png" alt="" width="150" height="150" /> Did You Create a Monthly Budget?
Budgeting is especially important for first-time buyers as it helps to make sure you can still have a life while owning your first home. After all, how will you afford to take vacations, have a gym membership, or do leisurely activities that you love if you have a mortgage payment at the top of your budget?
When making your budget, make it a point to give yourself a little bit of wiggle room to do something like a hobby or sport. If this results in not being able to get the home that you want, then you will have to decide whether you’d rather put your hobby on the back-burner or settle for a more affordable home.
There are additional <a href="https://www.joesamson.com/blog/how-much-real-estate-can-you-afford.html">homeownership expenses</a> that you have to budget for, including HOA fees. These are common with four out of five home purchases, so make sure you know whether or not this is something you’ll have to deal with in the future. It’s also important to consider the fact that the HOA can charge special assessments and fees that aren’t covered by this monthly expense.
<img style="float: right;" src="/userFiles/840/image/blog/ready_to_buy/6-ready-to-buy.png" alt="" width="150" height="150" />Do You Know What You Want to Buy?
What type of house do you want to live in? Whether you enjoy <a href="https://www.joesamson.com/calgary-luxury-homes/" title="Search LUXURY HOMES for sale in Calgary">luxury homes</a>, <a href="https://www.joesamson.com/calgary-townhouses/" title="Search TOWNHOUSES for sale in Calgary">townhouses</a>, <a href="https://www.joesamson.com/calgary-condos/" title="Search CONDOS for sale in Calgary">condominiums</a> or detached properties, you should make this decision before you ever start browsing. Fortunately, if you have already looked at your budget, then you should know which type of home that you can afford. In fact, if you know what you can afford then you should also be aware of the area that is within your budget as well.
While these considerations are important, you should also take a look at your lifestyle, your commute, kids (now or in the future), transportation, and even shopping. This will help you narrow down which community that you like and if you want to commit to one certain area at the moment. If you aren’t ready, then you may be better off leasing rather than buying and losing money in the long run.
<img style="float: left;" src="/userFiles/840/image/blog/ready_to_buy/7-ready-to-buy.png" alt="" width="150" height="150" />Are Your Expectations Realistic?
Although home ownership has become increasingly common, it’s not exactly easy. It takes time, it takes money, it takes patience, and it causes stress. By understanding that there will be some compromises to be made, you’ll be in a much better position to make a decision down the road.
For example, did you know that there is no such thing as a perfect home? If you know that you can’t expect this, then you won’t have such a difficult time finding a place that works for you and your budget. It’s also important to adjust your expectations, as you may not be able to (yet) afford the type of lifestyle that you’d like (such as what your parents have).
Do you tend to react based on your emotions? When it comes to buying a home, this could end up hurting you. Instead, your decisions should be based on practicalities so you’re making a solid and worthwhile investment.
Sitting on the fence and being hesitant about putting in an offer on a house that could work for you could end up breaking your heart by letting someone else buy the property ahead of you. Missing out on an opportunity is not the end of the world. There are always new listings coming on the market and perhaps the next time you will be ready to act faster when opportunity shows itself
<img style="float: right;" src="/userFiles/840/image/blog/ready_to_buy/8-ready-to-buy.png" alt="" width="150" height="150" />Do You Know Your Real Estate Market?
Have you taken a look at the market conditions in your area? This is something that is constantly changing, which is why it’s so important to always consider it before making an investment. You should also know that the market varies in each area, so look at the place where you want to live rather than the city as a whole. As a home buyer, I would keep on eye on the selected few communities that I would love to live in to learn what real estate prices are. As an example, I would frequently visit online <a href="https://www.joesamson.com/calgary-south/" title="Search Homes for Sale in SOUTH Calgary.">real estate listings in South Calgary</a> or monitor every <a href="https://www.joesamson.com/calgary-south/silverado/" title="View Homes in Silverado">home for sale in Silverado</a>.
Home prices fluctuate all the time and if they appear to be in a downtrend, then economically it probably makes more sense to hold-off with buying real estate and invest your money somewhere else.
Understanding what the current market condition is, could also help you to better prepare your offer for a particular property. Real estate markets vary from city-to-city and while some markets may be struggling, other real estate areas could be booming and you may need to act faster and be a little more aggressive with your offer price to avoid missing out on a great deal.
An <a href="https://www.joesamson.com/agents/125/joe-samson/" title="Joe Samson Calgary Real Estate Agent">experienced real estate agent</a> should have this conversation with you in order to prepare you for the buying process so that you’ll know what to expect.
Final Thoughts
There are many things to consider when purchasing a home, which is why you shouldn’t take this decision lightly. Some of your top priorities should be figuring out things like:
Home Affordability
Your 5-10 Year Plan
Your Budget
By looking at these important things, you’ll be much better prepared for buying a home. In addition to this, you’ll be much more likely to avoid mistakes that are incredibly common with <a href="https://www.joesamson.com/blog/courageous-first-time-home-buyers/" title="Read: Courageous First Time Home Buyers">first time home buyers</a>. Last but not least, don’t forget to use the resources around you. <a href="https://www.joesamson.com/about/" title="Joe Samson & Associates Real Estate Team">Local real estate agents</a>, in particular, will help make sure you negotiate a good deal and get through <a href="https://www.joesamson.com/blog/are-you-ready-to-buy-a-home/" title="Read: Are You Ready to Buy a Home? [INFOGRAPHIC]">the home buying process</a> in a smooth manner.
<img src="/userFiles/840/image/blog/ready_to_buy/how-do-you-know-you-are-ready-to-buy-a-home-social.png" alt="" width="600" height="314" style="display: block; margin-left: auto; margin-right: auto;" />2017-04-20T11:11:00-07:002018-02-18T19:02:15-07:00Joe Samsontag:joesamson.com,2012-09-20:3595How NOT to Screw-up Your Mortgage Approval<img style="padding: 15px; display: block; margin-left: auto; margin-right: auto;" src="/userFiles/840/image/blog/mortgage_approval/mortgage.png" alt="How not to screw up a mortgage approval" width="500" height="778" />
<img src="/userFiles/840/image/blog/mortgage_approval/waive.png" alt="" width="850" height="23" />
<img style="float: right;" src="/userFiles/840/image/blog/mortgage_approval/there-is-always-a-way.png" alt="mortgage approval in Calgary" width="400" height="273" />How to Prevent the Financing Blues?
Avoiding disappointment is always the best thing that you can do, but occasionally it does happen when some mortgage brokers are just utterly incapable of getting things done with the lender. Selecting a great mortgage broker is essential for getting the financing approved. Choosing to work with the wrong person can be detrimental. Let me explain…
Don’t tell this to anyone else, but just because the banks have the money that you need, sometimes they may try to make it sound like they get to do anything is not always the case. At the end of the day, banks still want your business.
So if the bank’s business also depends on securing the next mortgage, then it still didn’t make sense to me why would they be so willing to drop the ball and not communicate anything back to the mortgage broker so that the buyer and seller can stay informed?
Then I remembered a conversation that I had with a good mortgage broker associate of mine - he told me that they have an excellent relationship with the underwriter of a particular lender and often they can get borderline applicants approved and faster than anyone else.
Then I had an “ahhhhh so….” moment. So if a mortgage broker can have a preferred treatment with a lender, then the opposite must also be true.
<img src="/userFiles/840/image/blog/mortgage_approval/waive.png" alt="" width="850" height="23" />
Reasons Why Banks May Have Peripheral Service
Mortgage brokers are responsible for collecting a<img style="float: right;" src="/userFiles/840/image/blog/mortgage_approval/I-can-get-the-mortgage-money.png" alt="shady mortgage broker" width="400" height="269" />ll the documents from the purchasing clients and presenting it to the lenders for approval. But because mortgage brokers are on a commision based compensation model, they may have tried to bend the truth in the past to squeeze the <a href="https://www.joesamson.com/blog/how-to-qualify-for-a-mortgage/" title="Read: How to Qualify for a Mortgage">mortgage approval</a> through or may have given other reasons why lenders may not like dealing with them.
If a particular bank becomes suspicious or has a reason not to trust a mortgage brokerage - then a client’s file may end up receiving subordinate attention (I am going to explain this in a bit). Hence may be the explanation why banks are not giving them the courtesy of keeping them updated on time.
The second reason why banks may prioritize one application over another could be because they probably try to provide the best service to their most appreciated clients and everyone else has to stand in line to have their files reviewed.
There are mortgage brokers who send a ton of customers to a particular bank. There are also smaller <a href="https://www.joesamson.com/blog/top-34-mortgage-experts-gives-away-their-best-mortgage-tips/" title="Read: Top 34 Mortgage Experts Gives Away Their BEST Mortgtage Tips!">mortgage brokerages</a> who only send a few clients to the bank, and their lack of ability to refer more business naturally means that they are positioned at the back of the queue.
Specific banks provide a designated underwriter to only handle the clients of a high volume mortgage brokerage, while others’ application may get sent to the head office’s approval centre (a.k.a. “the black hole”). If the application gets reviewed at the head-office, then it’s anybody’s guess when they will respond as the mortgage broker has no direct communication with the underwriter.
As a disclosure on my part, this is simply the best theory that I was able to come up with and I know for a fact that you won’t find a single lender that will admit to this business practice. But if you can confirm or deny this theory, I would love to hear your comments below.
<img src="/userFiles/840/image/blog/mortgage_approval/waive.png" alt="" width="850" height="23" />
Never Give Up Control of the Situation
<img style="float: right;" src="/userFiles/840/image/blog/mortgage_approval/free_lying_financing.png" alt="Stay in control of your financing approval" width="400" height="269" />One of the most important steps that a home buyer or their REALTOR® can do to keep the transaction on time is never to give up control of the situation.
Far too often, people like to point fingers at each other as to why things didn’t get done on time and even less often do they want to take responsibility for the negative outcome. If you want to have a positive result, then you will need to be able to control <a href="https://www.joesamson.com/blog/are-you-ready-to-buy-a-home/" title="Read: Are You Ready to Buy a Home? [INFOGRAPHIC]">the entire buying process</a>. Otherwise, you are at the mercy of somebody else.
From the minute you decide to purchase that property, you will need to control the terms of the agreement. It means that you will need to make it very clear to the lender that they need to have the mortgage approved before the condition's deadline rolls around.
But, if the real estate agent doesn't have any relationship with the lender or the mortgage broker, then it may be a bit difficult to exercise any leverage over them. By leverage, I mean that Mortgage Brokers love getting referrals from real estate agents and the only way they can keep those referrals coming is if they do a great job servicing the client.
<img src="/userFiles/840/image/blog/mortgage_approval/waive.png" alt="" width="850" height="23" />
How to Win Before the Bank Lets You Down?
<img style="float: right;" src="/userFiles/840/image/blog/mortgage_approval/make-sure-to-get-my-mortgage-approved.png" alt="Getting a mortgage approved" width="400" height="307" />Fortunately, there is a way of ethically “controlling” the lender and gaining the upper hand even when they let you down by requesting an extension on the property that others may be standing in line and waiting for your offer to collapse.
Most certainly everyone is under pressure at their job, and that also includes the underwriters working for the lender. Just imagine someone plugging away with their work and every time they look at their inbox tray, there is another file that they have to get to, but they have another dozen approvals to review beforehand. Underwriters always end up with more work than they can handle. On top of the overwhelming workload, they have tight deadlines that they supposed to keep. Well… sort of.
For the underwriters to juggle things and try not to miss the deadline, they either need to work first on the “most preferred file.” Or prioritize the applications based on the deadlines by which they need to have the approval in place.
Prioritizing means this means that if you were to give the lender 2 weeks to get a mortgage approved, most likely it’s going to sit on their desk for another week before they actually do anything with it as they have multiple other files with higher priorities ahead of yours.
<img src="/userFiles/840/image/blog/mortgage_approval/waive.png" alt="" width="850" height="23" />
<img style="float: right;" src="/userFiles/840/image/blog/mortgage_approval/getting-mortage-approved-gamble.png" alt="" width="400" height="269" />The Solution to Controlling the Bank
The solution is simpler than you may have thought. While negotiating with the seller, I always find out from the seller’s agent - “how would they like to have my client approved quickly?” The answer is always: YES.
Then I point it out, that it’s great that our interests are the same. At this time, I propose that we’ll agree on a short financing condition date (this is music to their ears). BUT in case the bank cannot complete the approval on time, then we’ll have the option to extend the financing condition deadline by a few extra days.
By getting the seller to sign off on extending the condition date at the same time when the offer is accepted, it will automatically leave you with more peace of mind in case the bank needs a few extra days. This strategy imposes more pressure on the bank to giddy up and start working on the file right away.
So the agreement may speak to a 4-day financing condition day which will ensure that the bank will keep a close eye on the file. But in case the bank drops the ball, I have already set up the expectation with the seller ahead of time by having them to agree to extend condition date.
<img src="/userFiles/840/image/blog/mortgage_approval/waive.png" alt="" width="850" height="23" />
Final Thoughts
It can be very disappointing for both the buyer and the seller when financing isn’t approved in time or all together. Although, it's not entirely possible to plan for every situation in advance. But if a home buyer is <a href="https://www.joesamson.com/blog/reasons-why-you-need-a-mortgage-pre-approval/" title="Read: Reasons Why You Need a Mortgage Pre-approval">pre-approved for a mortgage</a> before starting their home search, then these tips above will most certainly ensure a positive outcome.
It is important to understand how lenders and mortgage brokers operate so that you can be a few steps ahead of them and detect any problems even before they occur. Before consulting with a lender or a mortgage broker, check with your real estate agent to see if they can recommend someone with whom they had a great experience working in the past.
If you had found the above information valuable, please share with your friends, and anyone that you may think would benefit from this article. Your comments are always welcome!
<img style="display: block; margin-left: auto; margin-right: auto;" src="/userFiles/840/image/blog/mortgage_approval/mortgage-social.png" alt="Mortgage approval" width="650" height="340" />2017-04-04T11:29:00-07:002018-02-18T19:05:38-07:00Joe Samsontag:joesamson.com,2012-09-20:3596How to Buy Real Estate in Canada<img style="display: block; margin-left: auto; margin-right: auto;" src="/userFiles/840/image/blog/how-to-buy-real-estate-in-canada.png" alt="Things You Need to Know Before Moving to Canada & Buying Real Estate" width="600" height="900" />
In the recent weeks, there has been a lot of chatter about US Citizens wanting to move to Canada as a result of their presidential elections. I am quite certain that the expressed interest shown online is much greater than a number of people who are actually going to follow through.
Setting all the hype aside, and for those who are actually very serious about finding out what it is like to buy real estate in Canada - below, you will find a general overview of the Canadian real estate system.
Please note that the following information is for information purposes only and it is not intended to serve as legal or tax advice.
Can Foreigners Buy Real Estate in Canada?
Buying real estate in Canada is fairly straightforward, however, a lot of questions arise when non-residents plan on buying property in Canada.
Much of the confusion comes from individuals who wonder whether they are already residents or plan on becoming a resident of Canada. In order to be considered a resident, you must legally live in Canada for over 6 months of the year. Don’t spend this much time in Canada? If you are in the country for fewer than 6 months, then you are simply a non-resident. However, you can still purchase a home, open a bank account, or establish yourself in other ways.
Luckily for those who are not residents of the country, most of the provinces in Canada do not restrict foreign buyers from owning real estate. Though it’s important to note that some of these provinces do set limits on how much land or property a non-resident is allowed to purchase. Fortunately, if you’re just looking to own a primary home, you shouldn’t have any issues no matter which province you’ve set your eyes on.
Home Buying Process for Foreigners in Canada
<img style="float: right;" src="/userFiles/840/image/blog/canadian-real-estate.png" alt="Buying a Home in Canada" width="450" height="338" />The process of buying a home in Canada is very similar to our neighbours south of the border. Most home buying process should begin with <a href="https://www.joesamson.com/blog/reasons-why-you-need-a-mortgage-pre-approval/" title="Read: Reasons Why You Need a Mortgage Pre-approval">securing a mortgage approval</a> that will give you an idea of <a href="https://www.joesamson.com/blog/how-much-real-estate-can-you-afford/" title="Read: How Much Real Estate Can You Afford?">how much money a homebuyer can spend</a>. After this, the next step is to select a REALTOR® who is experienced and ready to help you to find a property. Once that home is found, they’ll help you make an offer that will hopefully be accepted.
Canadadian law requires the offer is made in writing and that it clearly lists all of the terms and conditions of the transaction. For instance, if the carpets, appliances, hardware, or other interior additions are included, then they should be included in the offer as chattels included.
There are two very common conditions that buyers should include when making an offer on a property, both of which must be satisfied in order for the continuance of the offer.
The first should state the requirement of a property inspection.
While the second should note your ability to meet your financial obligations.
After the offer has been completed and you’ve signed on the dotted line, you’ll be legally bound to complete the details set forth in the contract and you cannot change your mind without facing legal consequences.
If you choose to do so, then you could be sued for damages and most likely completely forfeit your deposit. After your agent presents the offer to the seller, it’s then a waiting game to find out whether or not they’ll accept.
In most situations, there will be at least a few negotiations going back and forth between the buyer and seller once the initial offer has been submitted. While all negotiations are unique, most are based on items that the seller is willing to leave behind, the price of the property, possible repairs needed, and the completion date when the keys will be handed over is usually up for discussion.
After the dust settles around negotiating the details of the purchase agreement, every change must be documented and signed off by both parties. At this point is when you’ll need to provide a deposit as agreed upon in the offer to purchase agreement.
Rather than going to the seller, the funds are customarily placed in the selling REALTOR®’s trust account or outlined in the agreement. The deposit is part of the total purchase price and it is only released to the seller on the closing day.
While it might sound intimidating doing all of this back and forth work to buy a home, it is usually a very smooth process when working with a real estate agent. As the buyer, you’re not tied to using the agent that was responsible for<a href="https://www.joesamson.com/sellers/" title="Sell Your Home"> listing the property</a>. In fact, to avoid any conflict of interest, it is recommended to have your own REALTOR® to represent your best interest during the buying process.
In most scenarios, the buyer’s real estate agent is being compensated by the listing agent’s brokerage and you shouldn’t have to pay any extra fees for having an expert to represent you unless it’s otherwise agreed in writing.<br /> <br />Every province in Canada has their own rules and regulations that govern real estate transactions. Be sure to ask your real estate agent to explain the <a href="https://www.joesamson.com/blog/are-you-ready-to-buy-a-home/" title="Read: Are You Ready to Buy a Home? [INFOGRAPHIC]">home buying process to make sure that you are ready</a>.
Mortgages for Non-residents in Canada
When it comes to financing the property, whether or not you are a resident is a detail that will come into play. Canadian residents are typically able to finance over a 25-year term for 80%-95% of the purchase price. Non-residents will face a different lending process by having to pay a minimum of 35% down, leaving them with 65% to finance.
The <a href="https://www.joesamson.com/blog/how-to-qualify-for-a-mortgage/" title="Read: How to Qualify for a Mortgage">mortgage qualification</a> process is generally the same for both. The qualification process usually starts with a phone conversation to gather information such as income, tax information, and so on. E-mails, faxes, and regular mail will be used to get any additional copies and documents that are needed. Only after all pertinent information is ready will the application be sent to a lender for approval.
In most situations, the approval will be ready one to two days after the application is submitted. However, the process can be stalled if tax returns, a bank report, confirmation of down payment, credit report, copies of personal identifications, real estate appraisal, or bank statements are not adequate.
Another bump in the road can be experienced if you go to the wrong bank. Not every bank in Canada is willing to approve a mortgage application for foreigners. For this reason, it’s crucial to work with a <a href="https://www.joesamson.com/blog/top-34-mortgage-experts-gives-away-their-best-mortgage-tips/" title="Read: Top 34 Mortgage Experts Gives Away Their BEST Mortgtage Tips!">Canadian mortgage broker</a> from the very start. If you’re not sure who to go to, then ask your real estate agent to refer you to someone they’ve worked with in the past.
As the borrower, you’re also going to require the services of a Canadian lawyer to help you wrap up the legal documents, such as the registration at the Land Titles Office. If you’re not in the country when these need to be signed, then you can always request your lawyer to courier you the documents that require signing.
The only drawback is that this takes more time, you’ll need to hire a Notary Public to witness your signatures and it is going to add extra cost to the total legal bill. So it does require some careful planning on your part.
Keep in Mind When Selling Property in Canada
When it comes to selling a property in Canada as a non-resident, things are a bit different than they are for residents. This is because non-residents are required to pay a certain amount of taxes on capital gain. To put this in perspective, Canadian residents are not required to pay any taxes on capital gains as a result of their primary residents going up in value over time. However a non-resident is required to pay around 25% of the gain, and this will have to be paid before the sale is completed and the proceeds of the sale are disbursed. The funds for this will go to the seller’s lawyer and will only be cleared when Canada Revenue Agency forwards a <a href="http://www.cra-arc.gc.ca/tx/ndvdls/lf-vnts/dth/clrnc-eng.html">clearance certificate</a>.
In order for the clearance certificate to be sent, a few requirements must be met, such as a contract of purchase that has all conditions of the sale removed. Once satisfied, the CRA will submit the certificate to the seller, which normally takes 6-8 weeks to receive. If the requirements are not met and the certificate is not obtained, then the seller’s lawyer must withhold 25-50 percent of the selling price from the sale proceeds.
While the work of purchasing the home is done, the matter of taxes is still at bay. A non-resident seller will have to file a Canadian income tax return for the year that the sale went through. A refund may be expected for the taxes that were paid, although this depends on the transaction details. The way Canadian real estate is taxed depends on what the property is being used for. For example, a rental property will require 25% of the gross rent a tenant pays to be paid by the non-resident owner.
If you live in the United States and are worried about being taxed in the states as well as in Canada, you can put your mind at ease. The U.S., as well as many other countries, have tax treaties that prevent you from being taxed in both countries. If you don’t live in the U.S., then it’s recommended to speak with a tax accountant to learn more about the specifics.
Additional Fees When Buying and Selling Property in Canada
Just like with any major purchase, it’s always important to keep in mind that there may be additional costs and fees when buying real estate. This varies by Province, so make sure your REALTOR® takes time to explain this before you get the ball rolling. Some common additional costs include:
1. Land Transfer Taxes
Property Transfer or Land Transfer Fees: These are determined based on 0.5-2% of the total value of the property. In most situations, they will be 1% of the first $200,000 and 2% for the rest. This is not applicable in Saskatchewan, rural Nova Scotia, and Alberta.
If you’re looking to avoid this tax, you may be able to do so under a special circumstance. In 2005 the Provincial Budget made exemptions from the Property Transfer Tax for individuals who were buying their first home. However, they must meet the following criteria:
Be a Canadian citizen
Must be a resident of Canada
Do not own a home anywhere in the world
In the past 6 years have filed at least 2 Canadian tax returns
Lived in the province for one year (or longer) before the purchase
Residence must be principal residence for the first year it’s owned
For vacant land, a home must be constructed within a year after the closing date. The buyer must live in the home for the following year.
Other exemptions do apply, although these vary based on region as well as the value of the property being purchased. This applies to both resale and <a href="https://www.joesamson.com/new-homes-calgary.php">newly constructed homes</a> as of 2007, so many buyers can now take advantage of it. If you’re thinking about buying in Toronto, they have their own Land Transfer Tax, which offers a rebate for first-time buyers as well.
2. Cost of Clearance Certificate
Paid by the seller, the normal fees related to preparing and filing for a clearance certificate can range anywhere from $300 to $1000. If the transaction is complex, it’s likely the amount will be at the higher end.
3. Property Tax
Property tax is paid every year to the municipal government or in rural areas to the county. Rates vary in each province and city, as the fee is levied within local communities. The amount paid will also depend on current tax rates as well as the value of the property.
4. Goods and Services Tax (GST)
A 5% tax is required on newly constructed homes, although this amount is normally included in the sales price so it doesn’t surprise you later. It may also be eligible for homes that have been substantially renovated from the purchase condition. However, if you are purchasing a newly constructed home for less than $350,000, you can apply for a partial rebate of that 5%. Just keep in mind this rebate is only applicable for those who will make this property their principal residence.
If you’re buying a home over the threshold of $350,000 but below $450,000, the rebate of the goods and services tax will reduce proportionately. If you’re purchasing one over $450,000, then you will not be qualified to receive a GST rebate. For questions relating to this, one of the best sources is an experienced accountant or Revenue Canada’s website.
5. Provincial Sales Tax (PST)
Although normally factored into the sales price of a home, the PST is an expense that can range from 0-10% from province to province. Currently, Alberta is the only province in Canada that does not have a provincial sales tax.
6. Harmonized Sales Tax (HST)
Used in Newfoundland, Labrador, Nova Scotia, British Columbia, and Ontario, this is the combination of Provincial Sales Tax and Goods and Services Tax. Most services, consumer products, homes, and goods are subject to this tax. Additionally, this tax applies to costs as well as fees that are related to the purchase of a property, such as cable, commisions, legal fees, painting, etc. It’s collected by the Canada Revenue Agency before being sent to participating provinces. Almost every province has a provincial sales tax or the HST, except for Alberta.
Final Thoughts on Buying Real Estate in Canada
Although there are many steps that need to be carefully considered when buying real estate in Canada as a non-resident. The overall process of buying a home in Canada is fairly straightforward when you have a professional by your side. Every province and territory in Canada will have different advantages and some disadvantages. Be sure to find a <a href="https://www.joesamson.com/agents/125/joe-samson/" title="Joe Samson - Calgary REALTOR">real estate agent</a> who can answer all your questions about the <a href="https://www.joesamson.com/communities/" title="Search homes for sale in Calgary communities">local real estate market</a> and ease any concerns that you may have about becoming a homeowner in Canada.
<img style="display: block; margin-left: auto; margin-right: auto; vertical-align: middle; border: 1px solid black;" src="/userFiles/840/image/blog/buying-real-estate-in-canada-social.png" alt="Buying real estate in Canada" width="600" height="314" />2017-02-17T13:31:00-07:002018-02-18T19:11:30-07:00Joe Samsontag:joesamson.com,2012-09-20:3597Moving to Calgary, AB? - 22 Reasons Why You'll Love it!<img title="Moving to Calgary - 22 Reasons you'll love it!" src="/userFiles/840/image/blog/moving_to_calgary/tips-moving-to-calgary.png" alt="Moving to Calgary, AB - INFORGRAPHIC" width="850" height="4741" />
There are many emotions experienced when moving to a new city, from the excitement of being in a new home to the wonder of what the area is going to be like.
Fortunately, if you’re planning on relocating to Calgary, AB, these emotions can be met with peace of mind knowing that you're moving to an area that offers a lot of promise to residents and affordable <a href="https://www.joesamson.com/communities/" title="Calgary Community Information and Highlights">homes for sale in Calgary</a>. Of course, that doesn't mean moving can't be tough and met with challenges about leaving friends and family, but when you look at the big picture, this can turn out being a great decision.
Calgary offers incredible opportunities for individuals just as well as families. In addition, to be visually stunning, it has a number of amenities that make it a place that people want to stay once they move here. If you're still a little nervous about your move, keep reading to find out the specifics of what makes Calgary one of the top cities to live in the country. It's genuinely a place that you will fall in love with for a long list of reasons, allowing you to reflect back on your decision to move here with a smile and pat on the back.
What is it like living in Calgary?
<img style="float: right;" src="/userFiles/840/image/blog/moving_to_calgary/calgary-vintage-stamp.png" alt="Calgary Vintage Stamp" width="350" height="347" />
Calgary is a vibrant and energetic place to live, with a youthful and prosperous economy that makes it a joyful place to live. However, before it achieved this reputation, it started out as a small police post in 1882. The city wasn't actually incorporated until 1893, which was followed by rapid growth. This was especially true in the 1970's when it became a hub for energy resources such as the Canadian oil industry. In fact, over 85% of Canadian energy companies made their headquarters here due to the expanding economy and incredible growth.
While those energy industries still maintain a major presence in the city today, they are now accompanied by many others, including financial, manufacturing, technology, logistics, film/creative, and more. These businesses have greatly contributed to the expansion of the economy and the appeal it provides to residential and commercial investors. Offering an even more, promise is the fact that trusted analysts have predicted that this prosperity will continue for at least 8-10 years as the city expands.
Although exponential growth from a diversified economy is a big reason why Calgary is so loved, the low tax rates are one that's not to be forgotten. Alberta as a whole enjoys having 10% provincial corporate tax rates, which are the lowest in Canada.
Calgary is not subjected to PST (provincial sales tax) or municipal sales tax. And unlike all other provinces in Canada, which work on a sliding income scale, Alberta has a flat personal income tax rate of 10%.
If you're wondering about the weather, Calgary is known for having blue skies and sun almost every day of the year. These sunny days are beautifully complemented by the four distinct seasons of spring, summer, fall, and winter. For those who love the snow, in particular, the average annual snowfall is just around 135cm.
For those who love the warmth of the spring and summer, the dry winds that blow off the Rocky Mountains (known by locals as "Chinooks") can raise temperatures more than 20c in just a few hours. While this feels good in the summer, it could also mean wearing shorts in January, making the weather exciting and downright enjoyable all year round.
<img style="float: left;" src="/userFiles/840/image/blog/moving_to_calgary/moving-1.png" alt="“Moving" width="150" height="150" />Community Life
Although the prevalence of big businesses and energy industries has continued to grow, Calgary hasn't forgotten its small-town roots. You will still get the feeling of a small town when you walk through it, especially in each of the communities that make the city as a whole so desirable.
People who live here have the unique ability to create a diverse and welcoming cultural environment that is constantly adapting to the influx of young residents that move here. In fact, there are over 120 languages spoken in Calgary and many of the foreign-born citizens who speak them have warmly brought their religions, food, traditions, and ideas into the city. Overall that has contributed to a vibrant, diverse, and unique culture that has defined the identity of Calgary.
<img style="float: right;" src="/userFiles/840/image/blog/moving_to_calgary/communit-of-calgary.jpg" alt="" width="350" height="212" />The majority of people in Calgary are those who live here and work here every day. However, it's not uncommon for <a href="https://en.wikipedia.org/wiki/List_of_festivals_in_Calgary" target="_blank">festivals and yearly events of Calgary</a> to bring visitors in from all over the world.
The annual Stampede is one example of an event that brings cowboys and cowgirls to the city during the month of July. This action-packed festival features a world-famous rodeo, nightly shows with country singers, and evening entertainment for people of all ages to enjoy. Sure not everyone in Calgary enjoys this type of "cowboy culture" or even takes part in it, but they are tolerant and generally welcoming, just as they are with most other events that celebrate diversity.
Something most people notice when they move to Calgary is that people here are genuinely friendly. In general, the communities are warm, the residents are accepting, and people are willing to celebrate diversity and unique cultures. Part of the reasoning for this is the fact that such a large percentage of residents are young, as Calgary has the lowest average age in the country thanks to baby boomers.
Another reason for this acceptance and warmth is the fact that most residents have a strong sense of community and take pride in the neighbourhoods they choose to live in. They know that they are part of one of the cleanest cities in the entire world, even boasting about the fact that it's rat-free (which is a feature only shared with the Arctic and Antarctica).
<img style="float: left;" src="/userFiles/840/image/blog/moving_to_calgary/moving-2.png" alt="“Moving" width="150" height="150" />People of Calgary
It's easy to see that Calgary can be a place that's a lot of fun, thanks in large part to the diverse people that make it so unique. It's a refreshing change from cities that tend to be stuck in their ways because they don't share the desire to adapt to their changing residents. This is why so many people are glad to call Calgary home and look forward to the unique festivals and events that contribute to the accepting and lively atmosphere.
It's definitely not the "gun-wielding cowboys of the west" city like so many thinks, as the variety of ethnicities and progressive thinking of communities have made it genuinely modern. In fact, Calgary elected a Muslim mayor in 2010 and has been noted to have one of the most multi-cultural populations in Canada.
If you're moving to Calgary, you will find that you are welcomed into the city and community in a way that's completely different from anywhere else. Residents here greet their neighbours with open arms, and it's not uncommon to see perfect strangers helping new residents get acquainted with the city as well.
Although you might think one way about Calgarians and this city, you'll change your mind once you arrive. Don't be surprised to find friendly neighbours, a youthful population, beautiful scenery, fun events, and communities that work together to offer residents great lifestyles.
There's a reason that Calgary has been given the nickname of the "most American" city in Canada. It's young (with 41% of people being ages 20-44), accepting, and FUN! It's also a place where you can find all different cultures in one spot so there are endless new activities, foods, and events to try out.
<img style="float: left;" src="/userFiles/840/image/blog/moving_to_calgary/moving-3.png" alt="“Moving" width="150" height="150" />Calgary Employment Opportunities
If you don't already have a job lined up but are moving to Calgary, don't worry. You shouldn't have too much difficulty finding a job, especially when compared to other cities in the country. After all, Calgary is home to oil reserves, many corporate headquarters, and energy industries.
There are also opportunities in agriculture, technology, construction, engineering, television, and many other industries for you to find. With so many options out there, it's easy to see why there was a point in time when fast food companies simply couldn't find workers to hire.
The <a href="http://www.numbeo.com/cost-of-living/city_result.jsp?country=Canada&city=Calgary" target="_blank">standard of living in Calgary</a> is high and people are able to find jobs at a much faster rate than they would in other areas. In fact, <a href="http://www.statcan.gc.ca/tables-tableaux/sum-som/l01/cst01/lfss03k-eng.htm" target="_blank">Calgary's employment rate</a> is one of the best in the country, including for immigrants moving to Canada. This is especially true for industries that have recently experienced labour shortages and need workers to fill positions quickly. This is common in the oil filed although other energy-related sectors are always looking to hire new workers. These industries are vital to the economy here and employ a large percentage of the residents in the city.
If you're new to Alberta then you might be surprised to learn that it has oil sands that provide huge production opportunities. In fact, these are only second to the oil giant of Saudi Arabia, making Calgary a hub for anyone who is in the oil field.
Being such an important resource, there are always people who need to be hired to help keep the industry running at top speed. The wealth of this industry is a huge contributor to the wealth of the city as a whole and one of the reasons it has the strongest economy in all of Canada.
To make Calgary even better, it was recently named the 5th "<a href="http://www.economist.com/blogs/graphicdetail/2015/08/daily-chart-5" target="_blank">Best City to Live in the WORLD</a>" from 2010-2014 by the trusted Economist Intelligent Unit. Although there are many reasons why it has earned this title, the magazine looked at the factors of education, infrastructure, stability, health care, and safety in particular. Adding to the list of accolades, Calgary is also one of the nation's safest major cities, offering residents a lifestyle that they wouldn't find in other parts of the country.
<img style="float: left;" src="/userFiles/840/image/blog/moving_to_calgary/moving-4.png" alt="“Moving" width="150" height="150" />The Economy of Calgary
<img style="float: right;" src="/userFiles/840/image/blog/moving_to_calgary/calgary-oil-industry.jpg" alt="Calgary Oil Industry" width="350" height="222" />The economy in Calgary is always expanding due to being the leader in the oil and gas industries. To put this in perspective,
Canada owns the third largest oil reserve in the world, 97% of it being in Alberta. However, it's important not to forget that this city also has the second highest concentration of corporate head offices in the country. These offices are home to a wide range of businesses that include health, manufacturing, industrial, energy, environmental, and many others. All of these different types of businesses have set the stage for a flourishing economy where jobs are abundant and there are opportunities for all types of workers, including those just entering the workforce.
Entrepreneurs come here to make it and there are start-ups everywhere you look because of that "can-do" spirit. Residents have a desire to succeed and to make their dreams of owning a business a reality. However, are you wondering if the only resources are petroleum and agriculture? While these do play major roles in the <a href="http://www.calgaryeconomicdevelopment.com/research-and-reports/economic-indicators/more-economic-indicators/" target="_blank">economy of Calgary</a>, especially since there are more than 100 years of oil reserves left in the sands, they aren't the only energy resources.
Solar, wind, and biomass, are all alternatives that are promoting diversity for energy resources. With diversification has become a priority in recent years, green technologies like these are crucial for getting rid of coal mines and reducing power usage.
<img style="float: left;" src="/userFiles/840/image/blog/moving_to_calgary/moving-5.png" alt="“Moving" width="150" height="150" />Calgary Real Estate & Rentals
Calgary is an excellent place to live because it boasts the highest percentage of ownership in the entire country. Much of this is due to the strong economy, especially with the abundance of jobs available. If you're thinking about buying <a href="https://www.joesamson.com/calgary-south/" title="Search Homes for Sale in SOUTH Calgary.">real estate in Calgary</a>, then it's important to have reasonable expectations when it comes to pricing.
<img style="float: right;" src="/userFiles/840/image/blog/moving_to_calgary/Homes-in-Calgary-AB.jpg" alt="Homes in Calgary, AB" width="350" height="232" />Homes inside of the city and <a href="https://www.joesamson.com/calgary-acreages/" title="View ACREAGES for sale near Calgary">acreages around Calgary</a> are priced based on a number of factors but mostly real estate values are driven by location. If you're looking to live in the downtown core, expect to find <a href="https://www.joesamson.com/calgary-condos/" title="Search CONDOS for sale in Calgary">condos</a> that start in the $200,000's and extend up into the multi-millions.
If you're looking for a single-family home or a <a href="https://www.joesamson.com/calgary-townhouses/" title="Search TOWNHOUSES for sale in Calgary">townhouse</a> around the inner city, their prices will start around $450,000 but expect to do renovations if you want updated finishes.
If you're looking outside of the core, you'll find that the prices are greatly varied depending on the area. For example, the <a href="https://www.joesamson.com/calgary-west/" title="Search Homes for Sale in WEST Calgary.">homes for sale in West Calgary</a> tend to be the most expensive because of the sizes of lots. <a href="https://www.joesamson.com/calgary-south/" title="Search Homes for Sale in SOUTH Calgary.">South Calgary</a> and North Calgary are ideal for homeowners who are looking for turnkey properties that are fairly priced starting around $400k. For those looking for something smaller, there are apartments, condos, and townhouses located throughout the city as well. However, <a href="https://www.joesamson.com/calgary-new-homes/" title="Search New Construction Homes in Calgary">new construction homes</a> are typically available in the outskirts communities of Calgary.
If you are looking to rent or are a buyer who wants to know what rentals go for, the prices are pretty consistent in the city except for the downtown area. Most people can find 1 bedroom apartments priced from $750 to $110 and 2 bedrooms for $900 to $1200.
<a href="https://www.joesamson.com/blog/the-truth-behind-secondary-suites-in-calgary/" title="Read: The Truth Behind Secondary Suites in Calgary">Basement suites</a> tend to be the most affordable at around $500 to $750 while houses are the most expensive ranging from $1200 to $1500+. If you're looking for the cheapest place to rent, it's the northeast side of the city.
No sales tax is an added advantage of buying in Calgary and a huge reason why it's one of the most modestly-priced major cities in the country. If you're thinking about relocating to Calgary, then you are likely to find a home that you absolutely love. The city is unique, there are many different home styles, and the communities offer incredible amenities.
<img style="float: left;" src="/userFiles/840/image/blog/moving_to_calgary/moving-6.png" alt="“Moving" width="150" height="150" />Transportation in Calgary
<img style="float: right;" src="/userFiles/840/image/blog/moving_to_calgary/c-train-in-calgary.jpg" alt="C-train in Calgary, AB" width="350" height="263" />It's easy to get around Calgary by driving, however, public transportation is still a viable option for those who do not wish to get behind the wheel for every outing.
While buses and shuttles make up a large part of this transportation, the LRT (light rail transit) is one of the best forms of public transit. Otherwise known as the C-Train, this is constantly growing and expanding, with stops all over the different communities of this city. It's even free to ride in downtown, encouraging those who work in the area to keep their cars at home.
If you plan on taking public transit often, then it's recommended to move next to an LRT line within your community. This will shorten your commute time and make it easier to get to the stop when the weather isn't nice.
If you're planning on driving, the nearly-completed <a href="https://www.transportation.alberta.ca/804.htm" target="_blank">Ring Road</a> can help shorten your commute while making it easier to get around. Another thing you will find if you decide to drive is that the roads in Calgary are very well maintained.
However, this is due to the fact that there is a lot of construction during the summer, which can mean traffic jams that extend your commute. This is when it will come in handy to be near a public transit line that will eliminate the need for driving.
If you're nervous about walking after getting off of the train or a bus, don't! Calgarians are known to be very courteous to pedestrians and wait for them to cross the road before they continue driving.
For anyone planning on walking, Calgary is incredibly pedestrian-friendly. While drivers are courteous to those who are crossing the road, the streets are also very easy to navigate. As you walk out from the middle of the city the street numbers will increase, making it easy to find where you're going.
However, it's important to know which quadrant you're going to so you can navigate based on NW, NE, SW, and SE. If you don't know which quadrant you're going to, you will likely end up at the right address but in the wrong section of the city.
To make walking in Calgary even more appealing, the +15 Skyway Network in downtown provides elevated indoor pedestrian walkways. In addition to being heated during the winter, they allow for easy travel between buildings without any worry of vehicles.
For those who work in this area, the Skyway network helps make getting around a lot easier and virtually eliminates the need for a vehicle.
<img style="float: left;" src="/userFiles/840/image/blog/moving_to_calgary/moving-7.png" alt="“Moving" width="150" height="150" />Food & Best Restaurants in Calgary
<img style="float: right;" src="/userFiles/840/image/blog/moving_to_calgary/restaurant-in-calgary.jpg" alt="Barley Mill Restaurant in Eau Clair, Calgary" width="350" height="263" />Food lovers... welcome to Calgary! The city where you can find an abundance of amazing restaurants for a wide variety of cuisines.
There are thousands of restaurants in the city, with the majority being local spots that you won't find anywhere else.
You'll never run out of delicious food to try, whether you're looking for authentic Italian, spicy Indian, or a classic sub. Making these spots even better is the fact that the service is always friendly, keeping in tune with the welcoming vibe you'll get when you move here.
The cost of a good meal in Calgary will vary based on the entree and type of restaurant you visit. However, the average cost of a meal will run you around $12-$17. If you're looking for the cheapest option, then a food court is the spot where you'll get the most for your money.
Fast food will be even cheaper, but a few dollars more is worth it to get the quality food from local restaurants. If you're a bargain hunter, you can even find $1 loaves of bread at Superstore and $1 doughnuts at Tim Hortons, making it easy to grab something fast on the go.
Unfortunately, if you're in the mood for something fancier, like steak, you'll need to expect high prices. Steak and even veggies are priced quite high at the moment.
In the mood for a beer? You've come to the right place. Calgary residents tend to drink beer like people in other cities drink coffee!
Of course, there are good coffee places (Tim Hortons can't be beaten), the bars here are well worth checking out if you want an adult beverage. <a href="http://www.brasseriekensington.com/" target="_blank">Brasserie Kensington</a> and <a href="http://oaktreetavern.ca/" target="_blank">Oak Tree Tavern</a> are two examples of popular options, each offering amazing bar food in addition to beers from all over the world. Want a burger instead? Check out <a href="http://www.petersdrivein.com/" target="_blank">Peter's Drive-in</a> to see where all the locals get the best hamburgers.
There really are endless options when it comes to great bars, restaurants, and coffee shops in Calgary. If you're looking for some solid suggestions, then it's recommended to check out Avenue Calgary Magazine. They've collected data from all over the city to create an in-depth <a href="https://www.avenuecalgary.com/Restaurants-Food//" target="_blank">guide to dining in Calgary</a>. With this resources on your side, you'll be eating the best food in the city in no time!
<img style="float: left;" src="/userFiles/840/image/blog/moving_to_calgary/moving-8.png" alt="“Moving" width="150" height="150" />Best Schools in Calgary
<img style="float: right;" src="/userFiles/840/image/blog/moving_to_calgary/calgary-school-university-of-calgary.jpg" alt="Calgary Schools - University of Calgary" width="350" height="263" />Calgary is a city that's passionate about education. After all, it is home to the largest percentage of individuals in Canada who have received a post-secondary education! It was even named the third "<a href="http://www.macleans.ca/news/canada/smart-cities-2010-overall-rankings/" target="_blank">most educated city in Canada</a>" by Maclean's Magazine.
Fortunately, this means for anyone moving here there are many educational opportunities to choose from. Each school is set to the highest of standings, especially the universities and colleges. A degree from any of the many that are available will be recognized throughout Canada as well as the rest of the world.
MountMount Royal University and the University of Calgary are two of Calgary's schools that stand out in particular for their excellent programs and high educational standards. However, there are many other schools to choose from, offering something for everyone who is looking for the right program for them.
If you're moving here and in need of schools for younger children, the <a href="http://www.cbe.ab.ca/" target="_blank">public education system in Calgary</a> is excellent and held to incredibly high standards.
There are also a large number of <a href="http://www.ourkids.net/calgary-private-schools.php" target="_blank">private</a> and <a href="https://www.cssd.ab.ca" target="_blank">separate schools</a> available to choose from that are known worldwide for the quality education they provide. This can make it a lot less stressful to move to a new place like Calgary, simply knowing that school isn't something you will have to worry about.
Want to know where the very best schools in Calgary are before you move? Check out this link to read what MoneySense Magazine has to say <a href="http://www.moneysense.ca/columns/home-owner/best-schools-alberta-elementary-schools/" target="_blank">here</a>. Are you interest in school ratings in Calgary instead? Save yourself time and visit the <a href="http://www.moneysense.ca/columns/home-owner/best-schools-alberta-elementary-schools/" target="_blank">website</a> of The Fraser Institute for rankings by a school.
<img style="float: left;" src="/userFiles/840/image/blog/moving_to_calgary/moving-9.png" alt="“Moving" width="150" height="150" />Ski Resorts Near Calgary & Banff
<img style="float: right;" src="/userFiles/840/image/blog/moving_to_calgary/skiing-in-banff-ab.jpg" alt="Skiing in Banff - Reason to move to Calgary!" width="350" height="175" />Calgary is home to some of the best ski resorts in all of Canada, making it a wonderful place to live for any ski-enthusiasts. It's just a short trip away from the Rocky Mountains in particular, which offers world-class hills and skiing people of all skill levels. There's a reason the 1988 Winter Olympics were held in Calgary; it's beautiful and the nearby ski hills have been expertly crafted.
Whether you're interested in the stunning resorts in the Rocky Mountains or those that are a couple of hours away, you have many to choose from. Some worth considering include:
Castle Mountain
Doesn't it just sound majestic? This ski resort is located in the Rocky Mountains 270km from Calgary. It's absolutely worth the trip to get here, as the long and steep runs are incredible for those who love to ski.
The snowfall also reaches around 9 meters annually, making it an excellent place for lots of powder. There are 78 ski trails with options for beginners, intermediates, advanced, and experts. It's one of the resorts that has a lot of old-school charm, friendly folks, and great food to complement the experience.
Lake Louise Ski Resort
Located near Lake Louise about a two-hour drive from Calgary, Alberta in the Banff National Park is this popular ski resort. It's very easy to access and has breathtaking views of a setting that can't be beaten. It's common to see ski events hosted here, meaning it can get quite busy and crowded.
Nakiska Mountain Resort
Located only 60 minutes from the heart of the city and tucked in the Canadian Rockies, Nakiska is a quaint ski resort that once held the privilege of hosting the '88 Olympic Alpine Events. Today it's still well-maintained but is generally best for families and intermediate skiers (there are no options for experts). Anyone can have fun on the slopes here for a day without having to worry about a long drive back home.
Sunshine Village
If you're an expert skier or someone who enjoys steep and rocky terrain, then Sunshine Village is an ideal choice. The exposed terrain and steep trails make it both exciting and a challenge. It's definitely one of the better mountains in Banff, making it a place worth checking out when you're in the area!
Winsport
<a href="https://www.winsport.ca/">Winsport</a> is formally known as Canada Olympic Park. It is used for professional training as well as recreational purposes. Winsport is an excellent choice for all types of skiers. To make the park even more challenging, they recently added the "black diamond run" for those who are more advanced.
What's unique about Winsport is the details, such as the magic carpet that transports people around the park so they don't have to walk. They also have night skiing and an Under Armour SuperPipe for snowboarders to take advantage of!
<img style="float: left;" src="/userFiles/840/image/blog/moving_to_calgary/moving-10.png" alt="“Moving" width="150" height="150" />Rocky Mountains - Calgary & Banff
<img style="float: right;" src="/userFiles/840/image/blog/moving_to_calgary/morraine-lake-banff-national-park.jpg" alt="Morraine Lake in Banff National Park" width="350" height="248" /> Less than 90 minutes away from Calgary is the stunning Banff National Park and the Rocky Mountains. Although this park may have started as a small hot springs reserve in 1885, today it is an astounding 6,641 square kilometres of gorgeous outdoor space.
From this park, you can see unobstructed views of the incredible Canadian Rockies. If you're adventurous, these are excellent for climbing, skiing, snowboarding, hiking, snowshoeing, or doing a wide variety of other outdoor activities.
Other features of Banff that you don't want to miss out on include: the sparkling waters of Lake Louise, flower fields of Sunshine Meadows, and the jagged peaks of the Icefields Parkway. One of the best parts about coming here is the fact that there is so much to do. There are even bird-watching groups that come out here along with guided tours. If you want to learn more about this park and the mountains that surround it, visit the official website at: (<a href="http://banffnationalpark.com/" target="_blank">banffnationalpark.com</a>).
<img style="float: left;" src="/userFiles/840/image/blog/moving_to_calgary/moving-11.png" alt="“Moving" width="150" height="150" />Calgary Recreation & Sports
There's a sport to do for every month in Calgary, including the winter and summer seasons. Lacrosse, field hockey, volleyball, basketball, netball, Australian football, and cricket are only a small selection of sports that are played regularly across the city. If you enjoy being involved in activities, you will surely be able to find something that you're interested in, especially if you're willing to try a new spot.
What's special about Calgary is the fact that it's home to many sports camps for children and teens, many of them starting from the age of 3. There are also teams for children of all ages, including baseball, hockey, football, soccer, and baseball. If you're an adult and love these sports as well; don't worry. There are many teams for adults as well!
With the Rocky Mountains so close by, it's easy to see why they have used for adventure trips and a wide variety of outdoor activities. However, if you want to stay within the city limits, you can find facilities and outdoor areas for recreational hockey, cross-country skiing, swimming, kayaking and even rock climbing. Are you more interested in watching sports? There are many professional and amateur sports teams that you can watch all throughout the year, including at the World Pro Rodeo Centre.
Calgary Flames<br />Anyone who loves hockey is going to enjoy seeing the Calgary Flames play a game at the Scotiabank Saddledome. If they score a goal, you'll see actual flames shoot up, causing the entire audience to erupt in cheer. There's nothing like a Flames game in Calgary.
<img style="float: right;" src="/userFiles/840/image/blog/moving_to_calgary/calgary-stampeders-macmahom-stadium.JPG" alt="Calgary Stampeders Football Team - Macmahom Stadium" width="350" height="263" />Calgary Stampeders<br />The <a href="http://www.stampeders.com/" target="_blank">Calgary Stampeders</a> are a professional football team that you can watch regularly at McMahon Stadium. One of the best parts of seeing them score is seeing the touchdown horse named Quick Six run down the sidelines! There's also tailgating and a lot of fun post-game activities to enjoy with other fans outside.
Calgary Roughnecks<br />If you enjoy lacrosse you'll have fun watching these games all across the city of Calgary. This city is home to some of the most hard-core fans out there, making it easy to find others who share your love of this sport.
Olympic Oval – Skating<br />The Olympic Oval is a world-class skating facility where you can take public skate lessons or just enjoy watching shows with professional skaters. The oval ice surface is over 450 metres, making it large enough for big classes and expert skaters.
Fly Fishing in the Bow<br />The Bow River winds throughout Calgary and provides excellent fishing opportunities for those who love the thrill of the catch. It's best known for trout fishing but there are much other fish you can find all along this beautiful river.
Floating on the Elbow River<br />There's nothing quite as relaxing as lying out on the Elbow River in an inflatable boat, especially with the stunning views of the city just beyond the trees. This is a popular place to find people from all over the city during the summer, but make sure to play it safe and wear a life vest when you're on the water.
Skateboarding at Shaw Millenium Park<br />As the largest skate park in North America, Shaw Millennium Park will not disappoint anyone who loves to skate. There are roll-on rails, bowls, half-pipes, ledges, a fun box, stairs, and wall rides all located throughout this 88,000 sq ft concrete facility. There's even a 30' full-pipe that skaters can use to refine their skills or just try something new. No matter what skill level you are, there's something you'll find to love at this park.
Calgary Polo Club<br />The Calgary Polo Club, which was established in 1890, sprawls across 200 acres that has 8 grass playing fields, horse boarding, an outdoor arena, an exercise track, and so much more. Whether you want to watch one of the fast-paced tournaments or learn to play polo for yourself, this is the place to do it.
Calgary Climbing Centre<br />There are two impressive climbing gyms inside of this centre where you can scale, dangle, and ascend to new heights. If you want to work your way up to outdoor climbing, this centre offers excursions in the Rocky Mountains where you can test your abilities and enjoy a group climbing experience.
Hot Air Balloon Ride<br />Hot air balloon rides are some of the best ways to take in the skyline of this beautiful city. It's an experience unlike anything else, and with professionals who offer these rides throughout the year, you will have many opportunities to go.
Mountain Biking at Canada Olympic Park (Winsport)<br />There are 25km of trails at WinSport that offer beautiful views, challenging trails, and a lot of fun for those who love to mountain bike. Fortunately, there's a chairlift that takes you back to the top of the hill so you can save your energy for the ride.
Biking, Walking & Running<br />The Pathway System in Calgary is one of the most incredible features that residents use on a daily basis. It's made up of over 500km of pathways that connect throughout communities and along the boundaries for those who want to walk, jog, bicycle, or run. It's even used for commuting due to the fact that trails are vehicle-free.
Sail, Kayak, Canoe & Bike at Glenmore Reservoir<br />The Glenmore Reservoir is a popular place for gorgeous views as well as incredible outdoor space for all types of activities. You can barbecue, kayak, sail, swim, or even bike, run and walk along the trail system that winds around it. If you visit the Glenmore Reservoir just once you'll likely want to go time and time again because it's such an amazing resource, especially during the summer.
Soccer<br />There are many soccer fields located throughout Calgary to accommodate those who love the sport. There are also two soccer domes in the southeast and northwest sectors of Calgary where you can play indoors to escape the cold or snow.
Spruce Meadows<br />Calgary is home to one of the best equestrian facilities in Canada and North America as a whole. If you enjoy watching jumpers show their skills, then Spruce Meadows is the place to go. The grounds are also stunning, so it's a great place to spend an afternoon after you watch an equestrian show. There are also events held here all throughout the year, making it a fun spot for families in Calgary.
<img style="float: left;" src="/userFiles/840/image/blog/moving_to_calgary/moving-12.png" alt="“Moving" width="150" height="150" />Calgary Nightlife & Entertainmnet
<img style="float: right;" src="/userFiles/840/image/blog/moving_to_calgary/nightlife-in-calgary.jpg" alt="Nightlife in Calgary, AB" width="350" height="233" />If you plan on going out for a night on the town, Calgary will not disappoint. When moving here, you will find that there are a number of things to do for entertainment and fun. This begins with the downtown area, which is home to a lot of great bars, shows, and nightclubs.
What's even better is that you can walk from one place to another or use public transit, so there's no need to drive. Downtown is also a popular spot for big events and free concerts, so it's likely you'll run into something exciting going on if you make this your destination for a night out. If you want to learn more about the nightlife scene, then take a look at this excellent guide <a rel="nofollow" href="http://www.discovercalgary.com/Calgary/RestaurantsBars/Nightclubs" target="_blank">here</a>.
If you're looking for something different, like shopping or sipping a hot latte on a street-side patio, 17th Avenue is a great spot to check out. This street features 400 different businesses including bars, restaurants, boutiques, and retail shops.
It's the perfect place to go shopping, go to dinner, then grab a cocktail or cup of coffee. It's also part of the 17th Ave Retail & Entertainment District, which is home to a wide variety of shows and plays. It's also close to Stampede Park, which has shops, restaurants, lounges, cafes, and much more.
<img style="float: left;" src="/userFiles/840/image/blog/moving_to_calgary/moving-13.png" alt="“Moving" width="150" height="150" />Calgary Events & Festivals
There are seemingly endless festivals and large events held in Calgary during the spring, summer, and even winter! Some of the most popular that you should check out upon moving here include:
Sun and Salsa Festival!
Hosted in the community of Kensington, this festival is exactly what the name says: sunshine and salsa! You'll find salsa from some of the best companies in the area, with all of them competing to win the top prize. In addition to this, there are merchants that set up booths so you can purchase lots of fun items and delicious food.
Making this even more fun is the fashion show that's held during the event, which features clothing from the area's top retailers. This is perfectly complemented by live bands, musical acts, dancing, and other entertainment that changes every year.
Globalfest
Globalfest has been an August tradition for Calgarians since it was started in 2003. Organized by the Calgary Fireworks Festival Society, this features incredible fireworks shows that last for hours. In fact, there are different teams that make the fireworks shows so each is unique, beautiful, and elaborate.
Calgary Stampede
<img style="float: right;" src="/userFiles/840/image/blog/moving_to_calgary/calgary-stampede.jpg" alt="Calgary Stempede" width="350" height="250" />The <a href="http://www.calgarystampede.com/" target="_blank">Calgary Stampede</a> is an annual event that's held during the summer. Named "The Greatest Outdoor Show on Earth", this celebrates the cowboy lifestyle and rodeo in Canada. It features entertainment, country western bands, amusement park rides, delicious food, and a lot of other fun activities.
One of the best parts about this is to get involved in dressing up! It's the one time of year when you'll see Calgarians dressed in casual country wear, such as cowboy hats and plaid shirts. While most people don't dress all-out, it's still a lot of fun to be part of something so unique.
This event has become such a popular annual tradition that even most of downtown Calgary close down to join in on the excitement! You'll even hear country music playing at most stores a week or two before it happens, getting residents excited about what's to come.
However, if this isn't something you're interested in, there are other cultural events that go on, including theatre, the Dragon Boat Festival, the Folk Festival, and Shakespeare in the Park. There are also a lot of small community events that make this weekend fun for people of all ages.
Calgary Folk Music Festival
This is a 4-day festival that happens every July on the beautiful Prince's Island Park. It features celebrities, local bands, and performances on eleven different stages.
There are tens of thousands of people who come to watch these performances, normally over 50,000 in total! Even if you're not a folk music fan it's worth it to check this out once because of the food, friendly people, and the views from the island.
<img style="float: left;" src="/userFiles/840/image/blog/moving_to_calgary/moving-14.png" alt="“Moving" width="150" height="150" />Weather in Calgary
<img style="float: right;" src="/userFiles/840/image/blog/moving_to_calgary/january-weather-in-calgary.png" alt="January weather in Calgary" width="350" height="247" />Calgary is known for having a lot of sun and beautiful blue skies due to it being at an altitude. This unique climate makes it truly a beautiful place to live, especially if you appreciate having as many sunny days as you can.
When it comes to daily weather, it can be unique in the fact that it changes quite rapidly. This is why the saying goes "If you don't like the weather, wait five minutes!". It's common for sudden thunderstorms or rainstorms to occur just as common as it is to experience cold snaps in the summer.
It's even common for the weather in the winter to warm up to t-shirt temperatures because of the Chinooks, which are warm winds that blow off the mountains. On any given day the temperatures can go from +20 to -20, making it difficult to predict what any given day will be like.
Will it snow on Christmas? There's really a 50% chance of snow, depending on how the weather has been throughout the rest of the year. However, snow regularly comes by Halloween, so chances of a white holiday are pretty decent. However, one thing you can be certain of during the winter is that it will be cold. In fact, it normally reaches -30c and even colder sometimes, which might take some people moving here a little bit of getting used to!
<img style="display: block; margin-left: auto; margin-right: auto;" src="/userFiles/840/image/blog/moving_to_calgary/calgary-average-temperatures.png" alt="Average Temperatures in Calgary" width="650" height="279" />
Summer is normally from +20 to +30 but don't expect to see these temperatures in the spring. In April it's normally still snowing, same for May as well. Of course, every year can be different, but it's pretty common to not see warm temperatures until well into June. For more information about the weather in Calgary go to <a href="https://www.theweathernetwork.com/forecasts/statistics/temperature/cl3031093/caab0049" target="_blank">The Weather Network</a> (source for average temperature chart)
<img style="float: left;" src="/userFiles/840/image/blog/moving_to_calgary/moving-15.png" alt="“Moving" width="150" height="150" />Calgary Golf Courses
Are you a golf enthusiast? If you are, then you will LOVE Calgary! There are a number of stunning <a rel="nofollow" href="http://www.discovercalgary.com/Calgary/ToursActivities/GolfCourses/" target="_blank">golf courses in Calgary</a> that range from public to private, so you have options for any type of course that you prefer. With this city being ranked by <a href="http://www.golfadvisor.com/articles/top-golf-destinations-in-canada-14297.htm" target="_blank">Golf Advisor</a> as one of the top 10 for golf in the country, you won't be disappointed with any that you choose.
There are actually over 47 different options, meaning you can take your time to visit them all! There's a reason people come to Calgary from all over the world to play golf, and once you experience one of our courses, it will be easy to see why.
<img style="float: left;" src="/userFiles/840/image/blog/moving_to_calgary/moving-16.png" alt="“Moving" width="150" height="150" />Things to Do in Calgary
<img style="float: right;" src="/userFiles/840/image/blog/moving_to_calgary/things-to-do-in-calgary.jpg" alt="Things to do in Calgary" width="350" height="263" />With the stunning nature that surrounds Calgary, there are endless natural resources to enjoy. Banff National Park, in particular, is 125km northwest of the city and offers beautiful views of the Rockies and tons of outdoor space.
Nearly 5 million people visit here every year, as it has so much to offer all types of nature lovers. If you're looking for something closer, Bragg Creek is just 30km west of Calgary and is a great place to hike, ride horses, raft, canoe, walk the dog, mountain bike, or do a wide variety of other outdoor activities.
A short 45km west of this is Kananaskis, which offers everything from horseback riding and biking trails to ice climbing and cross-country skiing. On your way there you can find a Provincial shooting range for even more options for things to do.
All throughout the city, there are beautiful parks that are perfect spots for picnics or just afternoons doing activities. These offer convenience, especially for residents in communities that are walkable. Most of these neighbourhoods connect to the Pathway System, which is North America's Largest Network of Pathways. It's over 700km long and goes through parks, natural areas, communities, and alongside rivers. These paths are vehicle-free, so they are perfect for pedestrians. Public parks are also situated throughout the city and can be used for a wide variety of activities during the spring, summer, and winter.
If you're looking for something different to do, then Calaway Park is a spot worth checking out. It's located on the outskirts of Calgary and is a seasonal amusement park. There are also a number of incredible malls, cinemas, and theatres located all throughout the city for additional entertainment options. Check out Globe Guide's "Best Things to Do in Calgary" <a href="http://globeguide.ca/2015/06/best-things-calgary-alberta/" target="_blank">here</a>.
<img style="float: left;" src="/userFiles/840/image/blog/moving_to_calgary/moving-17.png" alt="“Moving" width="150" height="150" />Generous Calgarians
<img style="float: right;" src="/userFiles/840/image/blog/moving_to_calgary/giving-calgarians.jpg" alt="Giving Calgarians" width="350" height="193" />Albertans are incredibly generous and rated among the most giving in all of Canada, which can be seen in <a href="http://www.statcan.gc.ca/pub/11-008-x/2012001/article/11637-eng.pdf" target="_blank">these statistics</a>.
Within Calgary specifically, residents give the most per capita to the United Way. Residents here are willing to give as much as they have to help their neighbours and make a difference in others lives. One example of this is when the great flood of Calgary occurred in 2013. During this time residents did everything they could to help those who had been affected, which brought the city closer together as a whole.
Another example was the Fort MacMurray Fire in 2016, which brought out the best in Calgarians who wanted to help the nearly 100,000 people who were affected by it.
<img style="float: left;" src="/userFiles/840/image/blog/moving_to_calgary/moving-18.png" alt="“Moving" width="150" height="150" />FREE Alberta Health Services
Healthcare in Calgary is excellent, with a large number of high tech and world-class facilities being situated within it. What's even better is that health care in Alberta is free and you don't even have to pay a monthly premium for it. However, it's important to keep in mind that if you make over $50,000, health care premiums will now affect you. The amount will depend on how much you make but will range from $200 to $1000 per year.
<img style="float: left;" src="/userFiles/840/image/blog/moving_to_calgary/moving-19.png" alt="“Moving" width="150" height="150" />No PST & Low Taxes in Calgary, AB
Although free (or very affordable) health care makes Calgary a wonderful place to live, the low taxes are another huge benefit for those who live here. Calgary, as well as Alberta, has the distinction of having the lowest personal and corporate tax rates in the country. This is in part due to the fact that there is NO PROVINCIAL SALES TAX in Alberta and the structure of taxation is different from all other provinces in Canada.
For example, all other provinces in the country use a progressive rate schedule for personal income taxes. In Alberta, there's a flat 10% tax rate regardless of income level.
<img style="float: left;" src="/userFiles/840/image/blog/moving_to_calgary/moving-20.png" alt="“Moving" width="150" height="150" />Safe Neighbourhoods in Calgary
Anyone who lives in Calgary will tell you that it's a very safe and comfortable place to live. In fact, it was once named one of the safest major Canadian cities by<a href="http://www.macleans.ca/canadas-most-dangerous-cities-the-rankings/" target="_blank"> Maclean's Magazine</a>. Whether you are looking to start out on your own or you're raising a family, this is definitely a wonderful place.
Calgary's crime rate is very low, especially when compared to other major cities in Canada. The crime rate has even lowered as the city has expanded due to the efforts of fire, emergency medical services, and police.
The City of Calgary and its residents continuously contribute towards making Calgary a safe place to live. By organizing lottery draws to fund Calgary's STARS Air Ambulance helps to keep this important service up in the air.
<img style="float: left;" src="/userFiles/840/image/blog/moving_to_calgary/moving-21.png" alt="“Moving" width="150" height="150" />Calgary Arts & Heritage
Art is a major part of the culture in Calgary, starting with the beautiful statues and architecture that make this city so unique. You can see influences from local artists and other cultures all over the city and in various communities.
Another way to take in the arts is to visit the Southern Alberta Jubilee Auditorium (opened in 1957), which is a performing arts facility. With thousands of seats available, this is where large audiences can bee Broadway music, theatrical productions, and local shows put on by community centres. The twin facility, which is located in Edmonton, is home to the Alberta Ballet Company, the Kiwanis Music Festival, and the beloved Calgary Opera.
<img style="float: left;" src="/userFiles/840/image/blog/moving_to_calgary/moving-22.png" alt="“Moving" width="150" height="150" />Architecture in Calgary
<img style="float: right;" src="/userFiles/840/image/blog/moving_to_calgary/calgary-architecture-stephen-avenue.jpg" alt="Calgary Architecture - Stephen Avenue, Downtown Calgary" width="167" height="250" />The architecture in Calgary is stunning from anywhere you look, especially in the downtown area. There are numerous skyscrapers that have been thoughtfully designed with innovative details and unique exteriors. Some of these were even constructed during the skyscraper boom in the late 1950s, making them true pieces of Calgary's history. The rest of the buildings are a mix of residential and office towers that generally extend at least 40 floors high.
Two of the best structures to check out, in particular, are the Scotiabank Saddledome and Calgary Tower, as they are some of the most unique in all of the country.
The Peace Bridge is another famous piece of architecture, which was designed by designed by Spanish architect Santiago Calatrava. Calgary's Bankers Hall Towers are twins that you should visit as well, especially because they are the tallest twin towers in Canada. Last but not least, don't forget to check out The Bow (which is Encana headquarters), as it's the tallest office tower in Canada.
Final Thoughts on Relocating to Calgary
Now that you've read all about the features of Calgary, it's easy to see why it's such a genuinely fantastic place to live and work. There are endless things to do, so you'll never get bored or run out of new things to try. And because the people here are so friendly, you're likely to make a lot of new friends and like all of the neighbours that you live by. The close-knit spirit of each community makes it all that much better, with everyone feeling like they are a part of something special.
If you have questions about your move to Calgary, which is understandable for anyone, then <a href="https://www.joesamson.com/contact/" title="Contact us">contact us</a>! With their incredible knowledge of the area, you'll find that they can give you personal and professional advice like nobody else. We can even help you find a perfect place to live so you look forward to your move even more!
<img style="display: block; margin-left: auto; margin-right: auto;" title="Relocating to Calgary" src="https://assets.site-static.com/userfiles/840/image/blog/moving_to_calgary/moving-to-calgary-ab-social.png" alt="" width="600" height="314" />2017-01-03T13:37:00-07:002022-03-21T11:00:07-07:00Joe Samsontag:joesamson.com,2012-09-20:359810 Steps to Finding the Best Real Estate Brokerage...to Work for as a New Agent
<img src="/userFiles/840/image/blog/real_estate_brokerage/10-stesps-to-finding_the-best-real-estate-brokerage.png" alt="The Best Real Estate Brokerage to Work for" width="600" height="900" />
Once you become a real estate agent, one of the most critical decisions that you will need to make is choosing the real estate brokerage that you are going to work for. In Calgary alone, there are over 230 different real estate brokerages registered. While some of the brokerages are more prevailing than others, there are very few of them that excels in many areas.
The real estate office that you decide to work for it is undoubtedly going to have a direct impact on your income and the type of service that you are going to provide to your clients.
Now that I have been in business for over 14 years, I can reflect on things that I have learned as to what matters when choosing a real estate brokerage. After a few failed attempts, I am able to identify some of the characteristics of a remarkable real estate company that is going to contribute to your success as an individual agent.
Are you on your way to become a REALTOR® and recently completed the <a href="https://www.reca.ca/industry/licensing/first-time-application-real-estate-mortgage-property-management.html" target="_blank">Real Estate Associate Program (REAP)</a>? Or perhaps you are not overly thrilled about the value that you are getting at your current brokerage? I highly recommend you to take a look at the following areas to learn how to find the best real estate brokerage whose mission is to fortify the success of their real estate agents.
<img style="margin: 0px 15px 15px; float: left;" src="/userFiles/840/image/blog/real_estate_brokerage/brokerage-1.png" alt="It’s Not Only About the Money" width="150" height="150" />It’s Not Only About the Money
<img style="float: right;" src="/userFiles/840/image/blog/real_estate_brokerage/money.png" alt="" width="121" height="121" />One of the first questions that typically pops into anyone’s mind when searching for a new real estate office is the fees that they will need to pay to the brokerage.
There are many different kinds of <a href="http://realtormag.realtor.org/for-brokers/feature/article/2003/10/new-approaches-business-models" target="_blank">real estate business models</a> today. The amount of the fees that a brokerage is going to charge their agents are going to hinge on the type of services and support they are going to provide. Some businesses charge a minimal administration fee every month, but they curb down on the level of assistance that they are willing to offer. And there are also brokerages with well-advertised brand names who might want to sell you on their corporate marketing success (btw… you will be paying for this), yet they may offer little tangible support in return.
<img style="float: right;" src="/userFiles/840/image/blog/real_estate_brokerage/transaction.png" alt="" width="121" height="121" />More established real estate agents who are carrying out a high number of transactions every month love this arrangement. Relatively speaking, the high monthly fees may sound like a horrendous amount having to pay for the average real estate agent; but if there are zero transaction costs, this type of fee structure makes the most sense for them as their expenses are limited regardless how busy they keep the office staff. Unfortunately, those REALTORS® who are performing below average will also be contributing the same amount to the brokerage.
<img style="float: right;" src="/userFiles/840/image/blog/real_estate_brokerage/splits.png" alt="" width="121" height="121" />Many REALTORS® feel attracted to a 100% commission split model that a broker offers. You need to keep in mind that real estate brokerages are in business for a reason, and most certainly they will be collecting from you in another way. A brokerages' income can also arrive from monthly desk fees and transaction fees.
However, the most typical fee arrangements made are the commission splits. Brokers have understood, that if agents do not have to pay a steep office fee until a deal materializes, it helps their agents remain in business long if a dry spell may be upon them. This compensation style is a very common choice for those who are just getting started in real estate.
<img style="float: right;" src="/userFiles/840/image/blog/real_estate_brokerage/win-win.png" alt="" width="121" height="121" />A combination of commission splits and a modest office fee structure may be the most ideal, win-win solution for both the broker and the agent.
While the brokerage offers a way to ease the agent’s financial burden via a generous commission split, they are also receiving a monthly office fee to keep the operation going. With this business model, it is wise of the broker to make an investment in their agent’s professional path by providing extra support and training to them. This type of business approach appears to be the most sustainable business model, and it is highly rewarding for both parties.
"Most importantly, look for a commission split model where the brokerage has an invested interest in your success."
<img style="margin: 0px 15px 15px; float: left;" src="/userFiles/840/image/blog/real_estate_brokerage/brokerage-2.png" alt="Professional Training, Coaching & Mentoring" width="150" height="150" />Professional Training, Coaching & Mentoring
<img style="float: right;" src="/userFiles/840/image/blog/real_estate_brokerage/real-estate-training.png" alt="Real Estate Agent Training at CIR REALTY" width="361" height="243" />When you have completed your real estate licensing course, you have learned quite a bit about the principles, fundamentals, and real estate law to keep you out of trouble and to protect the best interests of your clients.
The real estate licensing school helped you to learn all the things that you need to know to pass your real estate license exam, but it does little to equip you with the skills that you need to have to sell real estate for a living.
It is also crucial to establish skills about how to prepare a home market evaluation for the first couple of times or to learn how to structure a complex purchase agreement. It takes time to learn the art of negotiations and lots of practice to acquire this skill.
Most new agents need training in these areas, and they need to have available support in the early stages of receiving their real estate license. Seasoned REALTORS® equally need to have access to training about the fast-changing world of technology and to learn more new ways to <a href="https://www.joesamson.com/blog/reasons-why-you-need-a-mortgage-pre-approval/" title="Read: Reasons Why You Need a Mortgage Pre-approval">bring value to clients</a>.
Real estate companies should have different types of formal training programs and an organized process to coach new agents entering the profession.
Continuous professional development is the foundation for a prosperous real estate career. When considering future brokerages to hang your hat at, be sure to ask the broker to provide you with a description of their training program.
The owners of any real estate brokerage should build the company on the pillars of SUPPORT, INNOVATION, and CULTURE. Every week, the managers and staff conduct professional development classes about changes in the industry and advancements in technology.
In addition to in-house training, successful real estate offices should be reaching out to leading industry experts whom they regularly invite to train their associates about fresh marketing ideas, negotiation skills and ways to provide a superior customer service experience.
For new agents, it's important to provide access to training courses to help beginners to advance to the next level. Above and beyond the in-house classes, the brokerage has an extensive collection of training videos recorded in-house that is accessible from the comfort of your home.
<img style="margin: 0px 15px 15px; float: left;" src="/userFiles/840/image/blog/real_estate_brokerage/brokerage-3.png" alt="Innovation & Technology" width="150" height="150" />Innovation & Technology
<img style="float: right;" src="/userFiles/840/image/blog/real_estate_brokerage/planting-technology.png" alt="Innovation" width="300" height="194" />Technology has changed the face of real estate forever. It may be tough for anyone to search for a home and not to start their quest on the internet.
Along with <a href="https://www.joesamson.com/blog/how-to-search-for-a-home-online/" title="Read: How to Search for a Home Online">searching for homes online</a>, many other technological advancements are being seen in the real estate industry. In a fast phased world, real estate brokerages need to better leverage technology to remain competitive, and they need to get their agents onboard.
Flourishing brokerages understand the importance of running a business efficiently, and they have learned to adapt to cater to the expectations of their agents and clients. <a href="https://www.uphomes.com/">A good looking website</a> is no longer considered to be a technological advancement. A site that not only lures new customers but also serves as a central communication hub for the brokerage is considered an invaluable asset.
The second pillar on which a top real estate office should be built on is Innovation. The majority of real estate brokerages profoundly rely on third-party solutions, while leading brokerages recognize that they need to invest in technology to create their personal in-house system to manage communication between REALTORS® and Managers.
Traditional brokerages hold regular meetings at their offices. In-person meetings mean that they need to have a large enough space to fit everyone and it would require a considerate amount of travel time back and forth to attend the meeting. Leading real estate companies have this figured out by conducting an online virtual office meeting for their agents to participate from the comfort of their homes or personal office space.
Attendees can interact with each other via a live chat box helping to pitch a listing or to ask a question. This tool is also often used to live-stream professional development classes so that agents have the ability to learn at their convenience.
When you are trying to decide which brokerage would be the best to join, keep an eye out for businesses that invest in technology. The goal of every real estate brokerage should be to make it easy for REALTORS® to run their business by providing access to leading-edge resources and tools.
"The goal of every real estate brokerage should be to make it easy for REALTORS® to run their business..."
<img style="margin: 0px 15px 15px; float: left;" src="/userFiles/840/image/blog/real_estate_brokerage/brokerage-4.png" alt="Easy Access to Broker Advice" width="150" height="150" />Easy Access to Broker Advice
<img src="https://assets.site-static.com/userfiles/840/image/blog/real_estate_brokerage/getting-fast-answers-from-broker.png" width="401" height="279" style="float: right;" />Having easy access to your broker for advice is probably one of the most important crutches that you can rely on when getting started as a new agent.
When you are new in the business, most likely you are going to have a ton of questions to ask your broker.
One of the most common challenges at many brokerages is the level of experience that a broker can bring to the table. In addition to receiving great advice, a timely response from your broker is a reasonable expectation.
When you are negotiating an offer, timing is always of the essence. A delayed response to your question could jeopardize your entire deal, ruin a relationship with your client and ultimately end up costing you thousands of dollars.
A well-run real estate office is going to have several layers of assurance to provide sufficient coverage to answer a REALTOR®’s question. More often than not, brokers are spread too thin and are expected to juggle too many things on any given day.
In the case of a larger company, you should keep in consideration the number of agents the broker needs to manage and consider asking yourself the question if he is going to have adequate time to look after you.
Another crucial fact to watch out for is whether the broker himself is actively selling real estate? A broker who is also spending time with his own clients can result in a conflicting situation. The broker not only competes with his own agents, but he is also competing against the time that is available to serve his agents properly.
One of the best ways to confirm whether a broker/manager is going to respond quickly is by asking a couple of agents who are already working at that brokerage.
<img style="margin: 0px 15px 15px; float: left;" src="/userFiles/840/image/blog/real_estate_brokerage/brokerage-5.png" alt="Administrative & Marketing Support" width="150" height="150" />Administrative & Marketing Support
<img style="float: right;" src="/userFiles/840/image/blog/real_estate_brokerage/real-estate-support.jpg" alt="Administrative Support" width="200" height="140" />Some real estate offices offer á la carte services to their agents. It can include anything from taking care of processing all of the paperwork to initiating certain marketing procedures. While this model may sound tempting to jump all over, it forces the agent to conform to an existing system and to pay a higher fee to the brokerage.
At the other end of the spectrum, you can also find real estate brokerages who offer almost no services other than meeting the minimum requirement. In this model, you literally get what you pay for.
As you can see, there is a vast array of differences in how a real estate office is managed. Getting authentic feedback from other agents of a brokerage that you are thinking of joining is also a wise move to make. Interviewing several agents at that brokerage should reveal how well the staff is doing with respect to responding to the agent’s needs.
<img style="margin: 0px 15px 15px; float: left;" src="/userFiles/840/image/blog/real_estate_brokerage/brokerage-6.png" alt="Convenient Access & State of the Art Facilities" width="150" height="150" />Convenient Access & State of the Art Facilities
Although more and more business is handled at our home offices, most likely we want to keep things professionals and we still require a place to meet clients at. Making it convenient for your clients to meet with you, it can certainly further strengthen the relationship.
Other than the looks of the office, you should also make sure that you will have a workstation to access when you stop by the office. A low number of computers may not be enough to handle the number of REALTORS® wanting to use the computers. Are the meeting rooms readily available? If the rooms are regularly overbooked, it can be a challenge trying to conform to a client's schedule. Do you have after hour access and freely available parking for you and your clients?
Some of these points may seem quite insignificant at first, but as you get more established, a convenient meeting place or a nearby drop-off location for a mail can save you countless hours of driving time and prevents you from commuting from one end of the city to the other.
<img style="margin: 0px 15px 15px; float: left;" src="/userFiles/840/image/blog/real_estate_brokerage/brokerage-7.png" alt="Financial Stability of the Brokerage" width="150" height="150" />Financial Stability of the Brokerage
<img style="float: right;" src="/userFiles/840/image/blog/real_estate_brokerage/financial-stability-brokerage.jpg" alt="Financial Stability - CIR REALTY" width="200" height="200" />Under normal circumstances, this question should not even be necessary to discuss. However, it is critical to highlight that a real estate brokerage has the same potential to be mismanaged just like any other business in another industry.
Being associated with a real estate firm that’s thriving can bring you credibility, yet on the flip side of the coin, a brokerage with skeletons in their closet can tarnish your reputation overnight.
Furthermore to putting a dent in your reputation, not receiving your hard earned commissions can be just as devastating. Unfortunately, it has already happened in the past, and most likely there will be other brokerages in the future who are going to decide to throw in the towel. And when they do, your commission cheques are probably going to be on the line.
Most likely this is going to be the most challenging question to get answers to before you decide on what brokerage to join. Even if you had access to financial documents of the company, you would need to be an expert to scrutinize the financial records of the brokerage. Going with a large, well-known brokerage, on its own, it won’t entirely guarantee that they are financially sound.
One of the most prominent ways that you can get an idea of whether the business is going anywhere is by learning about their past and by looking for signs that they are making investments in their future.
"A good, solid business will be able to grow, even in the midsts of an economic downturn."
<img style="margin: 0px 15px 15px; float: left;" src="/userFiles/840/image/blog/real_estate_brokerage/brokerage-8.png" alt="Brand Prominence" width="150" height="150" />Brand Prominence
A real estate brokerage with a large market share is always a good sign which is going to help agents to attract more clients. When the brokerage’s brand is well recognized and is seen all over the place, it can create established credibility among most customers.
Part of investing in the agent’s future is seeing the brokerage to spend a significant amount of capital towards institutional advertisement. Advertising mediums of a brokerage should include a dominant presence, both offline and online.
<img style="margin: 0px 15px 15px; float: left;" src="/userFiles/840/image/blog/real_estate_brokerage/brokerage-9.png" alt="Company Culture<" width="150" height="150" />Company Culture
<img style="float: right;" src="/userFiles/840/image/blog/real_estate_brokerage/company-culture-cir.png" alt="Company Culture" width="350" height="358" />The real estate industry tends to present a lot of lone wolves as REALTORS® do their work independently most of the time. This is especially true in an increasingly virtual world where interaction with others is becoming more distant. Developing a sense of community and belonging to a social environment within the workplace is becoming more challenging every day.
We work long hours and finding ways to connect with colleagues is an important factor to ponder on. A well-balanced culture that develops interpersonal relationships can make a significant difference in the level of job satisfaction and enjoyment. It doesn’t matter how much money you are making if you are feeling alone all the time.
Look for an environment where social activities are happening many times during the year and supported by management. Going beyond having fun, try to get a sense of the agent to agent support. You are going to find that many agents are happy to help others and it truly creates unity among them.
<img style="margin: 0px 15px 15px; float: left;" src="/userFiles/840/image/blog/real_estate_brokerage/brokerage-10.png" alt="Team Concept to Grow Your Business" width="150" height="150" />Team Concept to Grow Your Business
<img style="float: right;" src="/userFiles/840/image/blog/real_estate_brokerage/team-concept.png" alt="Working in a team at CIR REALTY" width="360" height="242" />Agents working in teams is becoming more popular these days. It provides additional benefits to the seller as to having multiple people trying to sell their home. It also gives peace of mind to the selling agent knowing that they have proper representation of the seller all the time, even when they need to take a day off.
In a smaller brokerage, it can be difficult for a team leader to find agents who are interested in working on a team. The higher the number of agents you have at a real estate brokerage, the easier it is going to be for you to find people who could become a great team member.
When searching for a real estate brokerage with plans to expand in the future, this can be a significant element to keep in mind.
Final Thoughts on Choosing the Best Brokerage to Work for
Take plenty of time to research brokerages before making a decision. The time that you are going to invest in researching the best brokerage to work for will pay off in the long run.
While it is relatively straightforward to jump from one company to another, it could be a costly move to do in the future as you will need to rebrand all of the marketing pieces. Transferring listing agreements over to another brokerage are also time-consuming and extremely inconvenient having to explain it to your client.
Selecting the right brokerage to work for will have an immense impact on your success. Whatever you do, be sure not to choose a brokerage simply based on commission splits. Don’t forget about broker support and availability, training systems, brand awareness, team environment, innovation and the looks of the facility.
Additional Tips & Resources<br />- According to Top Real Estate Agents
Bill Gassett - Westborough, MA REALTOR®
<img style="float: right;" src="/userFiles/840/image/blog/real_estate_brokerage/bill--gassett.png" alt="Bill Gassett" width="186" height="186" />Bill Gassett, a <a href="http://www.maxrealestateexposure.com/ma-re/worcester-county/westboro-ma-real-estate/" target="_blank">top real estate agent based in Westborough Mass</a>, shared his views on how to pick a real estate company to work for. Here is what Bill told me: "Joe thanks for the opportunity to share my thoughts with your readers. Taking the time to select the right brokerage to work for is important. An agent should plan on interviewing at least three companies before making their decision.
There is so much that goes into picking the right real estate company. Selecting the right fit often boils down to what the individual agent has for goals. In other words, what is most important. Is it the best commission structure?
Does the commission structure change as I make more sales? Is there a 100% commission plan? Do I pick the company with the largest market share? Is it the company that provides the best training? Does the company teach me things on an ongoing basis? How far is the company located at my home?
These are just a sample of a few things a new agent should be thinking about. An agent should have a good understanding of up-front what is most important to them starting out as a new agent. Training often is one of the top considerations as you can't expect to be any good if you don't learn from the get-go.
As an agent progresses, their income could become front and centre as the most important aspect of their business. Sometimes it is a blending of all of these things that can lead an agent for choosing one company over the next.
Tyler Zey - Easy Agent Pro
<img style="float: right;" src="/userFiles/840/image/blog/real_estate_brokerage/tyler-zey.png" alt="Tyler Zey" width="186" height="186" />Tyler Zey, content and marketing manager at <a href="https://www.easyagentpro.com/blog/" target="_blank">easyagentpro.com</a> added: When it comes to choosing the perfect real estate brokerage for you, the first step is deciding what you want and need out of the company.
There are a couple things agents should consider when deciding on which broker to work with to ensure they’re making the best choice for both their personal business style and long-term career.
First of all, you need to determine your goals and what you’ll need to accomplish them.
Secondly, there’s a lot more to it than commission splits.
If a brokerage offers few resources to agents, they will probably take less of a commission split. However, if you just got your license and are ready to start your career, you might need access to a few things.
Do you need an office? What about tech support? How about an assistant or advertising?
These are all incredibly valuable services that you’re likely to have to financially invest in any way if you don’t already have access to them.
Other factors to consider can include the size of the company and the brand presence.
Going with a well-known brokerage has some obvious perks, but you’ll also be likely working with a large company, and this can be difficult if you’d rather be with a smaller group.
Do your research and weigh the pros and cons.
It is possible that you’ll end up changing brokers at some point in your career before you find the perfect one.
Or, that your goals will change and so will the kind of real estate company you want to work for.
And that is entirely okay.
At the end of the day, you are your own business.
You’ll most likely be able to choose a broker once you have a solid idea of your goals as an agent. If you aren’t exactly sure what you’re hoping to do, then it’s probably worth it to choose a brokerage with a mentoring program and training opportunities.
Either way, knowing what you want and what you can bring to the table will make choosing your first brokerage all the more successful.
Paul Sian - Anderson Township, OH REALTOR®
<img style="float: right;" src="/userFiles/840/image/blog/real_estate_brokerage/paul-sian.png" alt="Paul Sian" width="186" height="186" />When looking for a real estate brokerage to join you should be looking to see what types of technology they offer to help agents do their jobs and at what cost they charge the agents.
Does the brokerage have access to the right marketing and workflow tools that will help you excel in your career or are they instead expecting you to figure out and pay for your own tools?
While some tools you should be exploring on your own, as a new agent it is best to try what is available at a low cost since it will take time for you to figure out what works for your situation.
Not every marketing tool will work for every agent and therefore it 's nice to be able to have a full selection of tools already paid for and available to you. So when you talk to different brokers make sure to get a look at the tools they offer so you understand what it is they are offering and be sure to find out what your commission splits and monthly fees may be so you can compare broker technology offerings based on their cost to use them.
All agents should be looking at workflow tools that the brokerages provide as well. How is the brokerage handling all your files? Do they allow you to use a digital signature platform to sign documents?
While your clients may or may not want to digitally sign a document your ability to have your broker digitally sign documents for you can save you a lot of travel time. Is the broker using online appointment setting tools or are they requiring phone calls to a call centre for showing appointments? As you become more successful in your real estate career, you will realize the time-saving tools help you get more done than if you did not have them.
Another thing to look at regarding broker offerings is what types of training is offered? Does the broker not only provide the latest and greatest in marketing and workflow technology but do they also train you to use it? Is the broker investing in training to help agent boost their selling skills?
Whether you are a new agent or a seasoned agent getting training to improve your skills not only helps you to do your job better but also lets your clients know you are serious about helping them by knowing everything that there is to know about real estate.
<a href="http://www.cincinkyrealestate.com/anderson-township/" target="_blank">Anderson Township, Ohio REALTOR® Paul Sian</a> has been licensed for over 12 years. Paul is currently licensed in the states of Ohio and Kentucky and helps clients with the selling and buying of homes.
Conor MacEvilly - Seattle, WA REALTOR®
<img style="float: right;" src="/userFiles/840/image/blog/real_estate_brokerage/conor-macevilly.png" alt="Conor MacEvilly" width="186" height="186" />As the joke goes, most managing brokers will determine if an agent is a good fit for their brokerage by holding a mirror in front of the agent’s mouth. The agent, however, should be a lot more selective when making their choice as to which brokerage to join.
Selecting the right brokerage that fits and compliments an agent’s individual needs and style is important. A lot will depend on how experienced the agent is. The newer agent will need a lot of hand-holding and training. The more experienced agent, however, can choose between joining a full service / big name brokerage or opt for the more self-reliant/virtual brokerage model.
As Conor MacEvilly, <a href="http://www.myseattlehomesearch.com" target="_blank">a REALTOR® who works in the Seattle real estate market</a> says: The ideal model in my opinion -is a combination of the two (the type I’m with): get to work from home but there’s a bricks and mortar office if I need it (but rarely do), excellent advice a phone call away plus big brokerage name recognition but without the overheads that most big brokerages extract from agents each month.
As for deciding which company to join, you should research them just for your clients research you… go for coffee with a couple of different agents who work there or corner them at open houses, sit down with the managing broker for the particular office you are considering joining…are they a good fit or just a hype merchant? What is their fee structure? Are you paying a lot every month for that fancy reception area and meeting rooms but will rarely use those facilities?
What training do they provide and how can they help you grow your business? To be honest, 95% of the time it’s up to you to grow your own business and no brokerage has a box of patented, career changing, trade secrets that they will share with you the minute you sign up with them. And don’t forget to ask what happens to any active listings you have, if in the future, you decide to move to a different company.
There’s room for all different types of brokerages but more and more agents these days are asking “what exactly am I getting for my hard earned money?” Better to find out before you sign on the dotted line with another brokerage. At the same time, it is not a good idea to choose a brokerage solely on their fee structure. At my first brokerage, they hid the photocopier paper. I didn’t stay very long but did I learn how to research and select my 2nd brokerage. I’m still at my 2nd brokerage.
Chris and Karen Highland - Frederick, MD REALTOR®
<img style="float: right;" src="/userFiles/840/image/blog/real_estate_brokerage/chris-karen-highland.png" alt="Chris and Karen Highland" width="186" height="186" />The Brokerage of My Dreams
The brokerage model hasn't been adequately challenged since 1906. There is still a semi-adversarial relationship between the broker and the agent competing for a bigger piece of the pie. It's a very good time to consider a paradigm shift in the broker/agent dynamic.
Support
The ideal brokerage would first provide effective self-assessment of your skills and temperament so that you can be most effective in your strengths and also know which areas you need to seek assistance or outsourcing.
This dream brokerage would diminish the competing interests of the broker as well as the other agents thereby creating a collaborative environment in which many more can thrive. A "1099" or competitive self-employed environment is one of the most cut-throat in which to succeed.
The broker should provide clear strategies, whether online or off, to develop massive lead generation and conversion machines. A brokerage should encourage and provide training in business development as well as in technical and legal matters regarding real estate. A team approach and/or agent equity may be effective in minimizing competing interests.
Many agents are led to believe the brand is a strong motivator for consumers to work with you. The truth, as I see it, is that YOU make the brand. In today's marketplace, most often consumers are drawn to you, because of your reputation as an agent and/or the information you provide to them. (websites, blogs, community information, listings, etc.)
These resources are available to all, without the need for a big brand. Never lose sight of the fact that YOU are the brand. People work with you because they know You, as You, and trust You.
Professionalism
Look for direct access to either an experienced, ethical broker or manager, for necessary consultations. Affiliation with a company that has a tarnished reputation will certainly diminish your brand.
On that note, a brokerage should allow and support you in co-branding, developing your own brand alongside the company, should you ever leave. Lacking this, you are essentially building someone else's equity at your own expense. To use our own marketing language, it's like renting instead of buying.
Compensation
Equitable commission splits are more a function of the services being provided. For example, if the broker is the rainmaker and you are focused on serving the client and closing the transaction, then that merits a greater portion of the commission. Otherwise, if you as the agent are developing your own business, you should get a bigger piece, as you are laying out the resources to acquire the business.<br />The ideal brokerage would provide effective retirement options, so agents aren't only as good as their last deal. After 25 years in the industry, we believe we've found that dream brokerage.
Chris and Karen Highland is a residential real estate team in Central Maryland. Karen handles internet marketing and social media, while Chris is also a Regional Leader with <a href="http://expertmarylandagents.com/" target="_blank">eXp Realty Maryland</a>. They are both excited about the tools and collaborative environment they have found at eXp Realty. You can find Karen and Chris at <a href="http://frederickrealestateonline.com/" target="_blank">Frederick Maryland Real Estate</a>.
Lynn Pineda - Coral Springs, FL REALTOR®
<img style="float: right;" src="/userFiles/840/image/blog/real_estate_brokerage/lynn-pineda.png" alt="Lynn Pineda" width="186" height="186" />Lynn Pineda is <a href="https://imagineyourhouse.com/coral-springs-fl-real-estate/coral-springs-realtor/" target="_blank">a top real estate agent in Coral Springs, FL</a>. Here is what Lynn commented - What an important question that Joe has tackled and I’m happy to provide some of my own tips to help.
While ultimately we, as Real Estate Agents are our own business and we are the “front of the store” so to speak, yet it still can be a huge benefit to have a solid, win-win Brokerage behind us - strength behind our business - it’s not done alone.
So just how do you go about selecting the right Brokerage? First, you must know what it is you want and expect from the Brokerage that you decide to be a part of for your Real Estate business and what Brokerage is in tune with your principles?
Do your homework. Ask people. Research online; you’re lucky, that in this day and age the internet is at your disposal for discovering all you need to know. You don’t have to go to the library to check out a book. Thank goodness for that! Find out what others are saying about the Brokerage. Are they in line with your beliefs?
You want to know that the Brokerage has a good level of support staff with a Broker and/or Team Leader that is accessible. Having an office where you can get the help of more experienced Agents who aren’t afraid of telling you too much is a real plus too!
If you need to learn about Real Estate, make sure that the brokerage offers a high level of structured training. Ask what the training looks like. Ask to see a training schedule. You want to see a monthly format. Know what to expect.
Even if you’ve been in business for a long time, a Brokerage with an incredible training system may be just what you need to take your business to the next level. Being educated is perhaps one of the most critical aspects of choosing the Brokerage as this is what will contribute to making your business strive.
And of course, you want to know how much money you’ll get to keep in your own pockets after all the office fees and Brokerage portions are deducted. You are in business and your income matters. What about any sharing of the profits for you now and your retirement - wouldn’t that be nice?!
You’ll want to hear about the whole picture that the Brokerage offers. Choose wisely.
<img style="display: block; margin-left: auto; margin-right: auto;" src="/userFiles/840/image/blog/real_estate_brokerage/10-stesps-to-choosing_the-best-real-estate-brokerage.png" alt="How to choose the best real estate brokerage to work for?" width="600" height="314" />2016-12-15T14:04:00-07:002019-02-09T11:33:49-07:00Joe Samsontag:joesamson.com,2012-09-20:3599Social Media Marketing for Real Estate<img style="display: block; margin-left: auto; margin-right: auto;" src="/userFiles/840/image/blog/social_media/social-media-content-marketing-real-estate.png" alt="Social Media and Content Marketing for Real Estate" width="700" height="803" />
No matter what profession you’re in, using social media is an excellent way of connecting with others and sharing your vast knowledge. However, for REALTORS® in particular, social media can help them reach new heights. It is particularly the case for agents who have real estate blogs, as they can easily link posts in social media to drive more traffic to their main website.
While there are many choices as to where you can share information and content, some are better than others. Below I’ll share some of the best communication platforms that I feel are the most effective for connecting with clients and exposing my expertise.
Social Media Content Marketing Sites for Real Estate
FACEBOOK<br /><a href="https://www.facebook.com/JoeSamsonRealEstate" target="_blank"><img style="float: left; margin: 5px 10px 0px 0px;" src="/userFiles/840/image/blog/social_media/facebook.png" alt="Facebook" width="50" height="50" /></a>Facebook is probably the most known social media sites that exist today. Facebook is one of my favourite places to share content at and to engage people in a conversation.
Creating a Facebook business account is an absolute must for every real estate agent today. It creates an opportunity to stay in touch with your clients and to make new friends who can become your customers in the future. If you would like to connect with me, please like e most known social media sites that exist today. Facebook is one of my favourite places to share content at and to engage people in a conversation.
Creating a Facebook business account is an absolute must for every real estate agent today. It creates an opportunity to stay in touch with your clients and to make new friends who can become your customers in the future. If you would like to connect with me, please like <a href="https://www.facebook.com/JoeSamsonRealEstate" target="_blank">Joe Samson & Associates - Facebook</a> page.
GOOGLE+<br /><a href="https://plus.google.com/+Greatcalgaryrealestate" target="_blank"><img style="margin: 5px 10px 0px 0px; float: left;" src="/userFiles/840/image/blog/social_media/googleplus.png" alt="Google+" width="50" height="50" /></a>When looking at my profile here, <a href="https://plus.google.com/+Greatcalgaryrealestate" target="_blank">Joe Samson - Google+</a>, you’ll notice that I frequently use Google+ to share my real estate articles and to interact with other real estate agents.
When you create a profile page, you can join real estate communities, connect with other professionals, and share content you’ve written/found. Your profile can serve as an excellent tool in getting you noticed, so make it a part of your daily social media updates.
TWITTER<br /><a href="https://twitter.com/JoeSamson" target="_blank"><img style="margin: 5px 10px 0px 0px; float: left;" src="/userFiles/840/image/blog/social_media/twitter.png" alt="Twitter" width="50" height="50" /></a>Even if you don’t use Twitter, it’s something you’ve likely heard about. And while it can be intimidating to use at first, it’s incredibly beneficial for business professionals. Every message you type will be immediately shared with your followers, which is why it’s important to share quality content. The more followers you can drum up, the more exposure you will get. I personally enjoy sharing real estate articles and information about my business, as this is useful to my followers.
Check out my Twitter profile here: <a href="https://twitter.com/JoeSamson" target="_blank">Joe Samson - Twitter</a> to see what I “tweet” out to my 7,000 followers on a daily basis. Making this tool even better is the fact that it’s compatible with other apps, such as the Buffer App, which allows you to set up a schedule to tweet regularly.
LINKEDIN<br /><a href="https://www.linkedin.com/pulse/activities/joe-samson+0_3pIK8cClFninik6NKqZ-If?trk=nav_responsive_sub_nav_yourupdates" target="_blank"><img style="margin: 5px 10px 0px 0px; float: left;" src="/userFiles/840/image/blog/social_media/linkedin.png" alt="Linkedin" width="50" height="50" /></a>Linkedin is a unique social site due to the fact that it’s strictly meant for professional use. This means it’s a place to share professional content, connect with others in your field, and join real estate groups. It essentially allows you to network with others, all without having to hand out a business card. A lot of good can come from regularly using this, so don’t hesitate to be a daily user. On my Linkedin updates here <a href="https://www.linkedin.com/in/joesamsonrealtor/detail/recent-activity/shares/" target="_blank">Joe Samson - Linkedin</a>, you can see how I use <a href="https://www.linkedin.com/in/joesamsonrealtor/detail/recent-activity/posts/" target="_blank">Linkedin to share real estate content</a> and connect with others in my field.
PINTEREST<br /><a href="https://www.pinterest.com/homesincalgary1/" target="_blank"><img style="margin: 5px 10px 0px 0px; float: left;" src="/userFiles/840/image/blog/social_media/pinterest.png" alt="Pinterest" width="50" height="50" /></a>While you might be familiar with Pinterest because so many use it for crafts, it’s also an excellent tool for real estate professionals! I’ve found Pinterest very useful in the real estate industry not only to showcase listings but to draw attention to unique images that should go along with a great real estate article. I like to add eye-catching graphics and catchy headlines to articles to attract visitors to click and “pin” my content.
With Pinterest, you can create as many boards as you like, which is why I have some for various topics of real estate and some for personal use. You can also join in group boards related to real estate in order to share your content and see what others are posting. See what I’m pinning and visiting my profile at <a href="https://www.pinterest.com/homesincalgary1/" target="_blank">Joe Samson - Pinterest</a>.
ABOUT.ME<br /><a href="https://about.me/jsamson" target="_blank"><img style="margin: 5px 10px 0px 0px; float: left;" src="/userFiles/840/image/blog/social_media/aboutme.png" alt="About.me" width="50" height="50" /></a>This tool serves more as a “get to know me” page than a spot to be social. It’s great if someone searches you and doesn’t see your business website first. To use it effectively, make a profile with a detailed summary of your business.
You can add multiple links, one of which should be your main website and the other which should be a spot where you share your articles. By having all of this listed, like I do on my profile here <a href="https://about.me/jsamson" target="_blank">Joe Samson - About.me</a>, you’ll drive traffic to other areas while exposing your expertise in the real estate field.
SCOOP.IT<br /><a href="http://www.scoop.it/u/joe-samson-1" target="_blank"><img style="margin: 5px 10px 0px 0px; float: left;" src="/userFiles/840/image/blog/social_media/scoopit.png" alt="Scoop.it" width="50" height="50" /></a>One of the most challenging struggles with sharing useful content is being able to add in your opinion. Scoop.it is something that can help with this, as it allows you to share articles while adding your personal thoughts. By doing so, you’re adding a bit more personalization to the post, which is something that I’ve found attracts more readers.
To get a better idea of what this looks like, feel free to visit my profile at <a href="http://www.scoop.it/u/joe-samson-1" target="_blank">Joe Samson - Scoop.it</a> and check out some of the <a href="http://www.scoop.it/t/real-estate-tips-by-joe-samson" target="_blank">best real estate tips</a>. Once here, you’ll see my Scoop.it groups and how I’ve used them to share information about real estate, social media, and local community information.
One of the great features of this tool is that if you share well-received content, the site is going to reward you for your effort which helps to make your content more noticeable to others and to boost your visibility.
LIST.LY <br /><a href="https://list.ly/joe-samson/lists" target="_blank"><img style="margin: 5px 10px 0px 0px; float: left;" src="/userFiles/840/image/blog/social_media/listly.png" alt="Listly" width="50" height="50" /></a>When many people research a topic online, they are looking for content that’s easy to read - this is where List.ly comes in handy. This social media platform allows you to create lists of topics that you want to share more information that is related to the main subject.
With lists being so incredibly easy to read (and well-favoured for re-sharing), it’s a no-brainer to use a tool like this. I’ve had great experiences using lists, and they’ve ended up being some of my most shared blog posts! To get a better idea of what this looks like, visit my profile at <a href="https://list.ly/joe-samson/lists" target="_blank">Joe Samson - List.ly</a> and take a look at the list I created to provide<a href="https://list.ly/list/1AyY-home-buying-tips" target="_blank"> tips for homebuyers</a>.
Browse through my lists as well as those published by other top real estate bloggers, and you’ll see how excellent this is for effortlessly sharing content.
RESAAS<br /><a href="https://www.resaas.com/joesamson1" target="_blank"><img style="margin: 5px 10px 0px 0px; float: left;" src="https://assets.site-static.com/userfiles/840/image/blog/social_media/resaas.jpg" alt="RESAAS" width="50" height="50" /></a>RESAAS is a profession-specific social media site for those who are in the real estate field. The RESAAS platform gives you a new, more efficient way, of connecting with other real estate agents. You can share content, start discussions, exchange referrals, and more.
In general, you’ll find that most agents use this to share listings, although sharing high-quality content is also common (and what I use it for). To see some of my best content, including an article that explains the <a href="https://www.resaas.com/reblast/8cacb75a-5b7e-4116-b795-f20e934ffeb4#.WD9F3aIrK8g" target="_blank">importance of a mortgage pre-approval letter</a> or visit my profile at <a href="https://www.resaas.com/joesamson1" target="_blank">Joe Samson - RESAAS</a>.
ACTIVERAIN<br /><a href="http://activerain.com/blogs/joesamson" target="_blank"><img style="margin: 5px 10px 0px 0px; float: left;" src="/userFiles/840/image/blog/social_media/activerain.jpg" alt="ActiveRain" width="50" height="50" /></a>With the ActiveRain platform, you can share content, connect with other agents, and update your very own real estate blog. Being such an important social media site with many users, you’ll find that it’s a great place to go if you’re just getting started with blogging.
However, it’s also excellent for networking because so many industry professionals use it. With this site, you can even make a profile page with information about yourself and your profession. If you don’t have this, then you’re missing out on a channel for increasing your visibility as a real estate agent. You can see my profile at <a href="http://activerain.com/blogs/joesamson" target="_blank">Joe Samson - ActiveRain</a>.
TUMBLR<br /><a href="http://joe-samson.tumblr.com/" target="_blank"><img style="margin: 5px 10px 0px 0px; float: left;" src="/userFiles/840/image/blog/social_media/tumblr.png" alt="Tumblr" width="50" height="50" /></a>Tumblr is used by millions of people on a daily basis, although many in the real estate field are beginning to see how effective it can be for their profession (myself included). It allows you to share content, from pictures to articles effortlessly. It also lets you write your blog posts such as the one I wrote about <a href="http://joe-samson.tumblr.com/post/152082327500/crazy-tips-about-how-to-search-for-a-home-online" target="_blank">how to search for a home online</a>.
Tumblr completely allows you to customize the article to your style. See my profile at <a href="http://joe-samson.tumblr.com/" target="_blank">Joe Samson - Tumblr</a>, which I plan on growing with high-quality real estate content in the coming year.
BAG THE WEB <br /><a href="http://www.bagtheweb.com/u/joesamson/bags" target="_blank"><img style="margin: 5px 10px 0px 0px; float: left;" src="/userFiles/840/image/blog/social_media/bagtheweb.png" alt="Bag The Web" width="50" height="50" /></a>If you’re looking for a tool that is easy to use, Bag The Web is it. Just like the name implies, you use this to share bags of content with others. To do this, all you have to do is “grab” the link for the content, change the article title to prevent duplicate content and drop it into the website.
In addition to this, you’ll need to write a high-quality description of the article, so readers are motivated to read it (and know what it’s about). I’ve found this to be an excellent content curation tool that helps boost the visibility of some of the best real estate articles I’ve written. To see how I use this site, take a look at my profile at <a href="http://www.bagtheweb.com/u/joesamson/bags" target="_blank">Joe Samson - Bag The Web</a>.
ISSUU<br /><a href="https://issuu.com/csamsojo" target="_blank"><img style="margin: 5px 10px 0px 0px; float: left;" src="/userFiles/840/image/blog/social_media/issuu.png" alt="ISSUU" width="50" height="50" /></a>Issuu is free online publication tool to create a magazine-like page. The creators of ISSUU embraced to provide an exceptional reading experience for their visitors. I use this platform to curate my most favourite real estate articles.
It only takes a few minutes to publish your articles which can be in a PDF, Word, plain text or just about any format you can upload. You can read my best real estate content that I have published at <a href="https://issuu.com/csamsojo" target="_blank">Joe Samson - ISSUU</a> profile.
SLIDESHARE<br /><a href="http://www.slideshare.net/JoeSamson1" target="_blank"><img style="margin: 5px 10px 0px 0px; float: left;" src="/userFiles/840/image/blog/social_media/slideshare.png" alt="Slideshare" width="50" height="50" /></a>With Slideshare, you can turn old content into something completely new and fresh, just by adding visuals. Essentially all you do is create slides of your content by printing it to a PDF and as you upload it to the site it converts it to a slide.
With most people more likely to click on links with visuals and lists, this is an effective way of bringing more visitors to your content. To get an idea of how this can be used for real estate, in particular, take a moment to look at how I’ve used it here <a href="http://www.slideshare.net/JoeSamson1" target="_blank">Joe Samson - Slideshare</a>.
TRIBERR<br /><a href="http://triberr.com/JoeSamson" target="_blank"><img style="margin: 5px 10px 0px 0px; float: left;" src="/userFiles/840/image/blog/social_media/triberr.png" alt="Triberr" width="50" height="50" /></a>Triberr is a social networking group for bloggers to get to know each other. You can join groups of bloggers who specialize in writing real estate articles. It is a fantastic place to collaborate on projects and to share ideas with each other. You can see at my profile page: <a href="http://triberr.com/JoeSamson" target="_blank">Joe Samson - Triberr</a> that it also comes with an RSS feed that you can connect your best blogs posts. It automatically bookmarks your newest article and makes it available for others to see. Triberr is a great hands-off way to promote your latest blog posts.
BEHANCE<br /><a href="https://www.behance.net/info0a030937" target="_blank"><img style="margin: 5px 10px 0px 0px; float: left;" src="/userFiles/840/image/blog/social_media/behance.png" alt="Behance" width="50" height="50" /></a>Bechance is one of the most undiscovered, yet very powerful ways to showcase your real estate articles and to find other content that is worth reading. You can see my profile at <a href="https://www.behance.net/info0a030937" target="_blank">Joe Samson - Behance</a> and an example of an article that I have written about <a href="https://www.behance.net/gallery/40153945/Why-People-Love-MOVING-to-Calgary-AB" target="_blank">why Calgary is a great city to move to</a>. What makes this site so prominent is that it allows you to create articles to support some of your main blog posts.
Search engines love to see web pages referencing similar content; hence they tend to help your main website to rank better. It can take a considerate amount of time to write so much content at so many social media sites. Because it requires so much time, I only expect to slowly progress in the future to use this social media account.
Social Bookmarking Sites for Real Estate
DELICIOUS<br /><a href="https://del.icio.us/jsamson" target="_blank"><img style="margin: 5px 10px 0px 0px; float: left;" src="/userFiles/840/image/blog/social_media/delicious.png" alt="Delicious" width="50" height="50" /></a>With Delicious, you can save all of your favourite spots online in just one spot. When you find content or media that you like, all you have to do is save it to Delicious and it will stay there as long as you'd like it to remain visible. You can even organize links based on content subjects to make it easier to search.
I enjoy sharing the real estate content I find (in addition to my own posts), so others can see what articles I have found to be useful. Take a look at my profile at <a href="https://del.icio.us/jsamson" target="_blank">Joe Samson - Delicious</a> to see what type of real estate content I have bookmarked.
PEARLTREES<br /><a href="http://www.pearltrees.com/jsamson" target="_blank"><img style="margin: 5px 10px 0px 0px; float: left;" src="/userFiles/840/image/blog/social_media/pearltrees.png" alt="Pearltrees" width="50" height="50" /></a>Another option for sharing content. Pearltrees is an excellent tool for REALTOR® because it gives you an opportunity to place all your content in the one place. Essentially it’s a visual bookmarking site where you can place photos, videos, articles, and websites.
You can even organize everything based on category, which makes it much easier to sift through the various forms of content you have. Take a look at my Pearltrees account at<a href="http://www.pearltrees.com/jsamson" target="_blank"> Joe Samson - Pearltree</a> to see how I’ve organized my best real estate articles.
One additional feature of this tool is the fact that you can use it to explore the profiles of other users. You can take a look at their trees to see how they’ve organized their content, then use that inspiration for your own. It’s a great place to feed your creativity while satisfying your need for content organization.?
DIIGO<br /><a href="https://www.diigo.com/profile/Csamsojo" target="_blank"><img style="margin: 5px 10px 0px 0px; float: left;" src="/userFiles/840/image/blog/social_media/diigo.png" alt="Diigo" width="50" height="50" /></a>Diigo is another useful bookmarking site that lets you store any useful articles you find interesting. It’s an excellent place to organize content that you enjoy or would like to reference, including your own. To get a better idea of how I use that, look at my Diigo profile here <a href="https://www.diigo.com/profile/Csamsojo" target="_blank">Joe Samson - Diigo</a>.
STUMBLEUPON<br /><a href="http://www.stumbleupon.com/stumbler/JoeSamson/likes" target="_blank"><img style="margin: 5px 10px 0px 0px; float: left;" src="/userFiles/840/image/blog/social_media/stumbleupon.png" alt="Stumbleupon" width="50" height="50" /></a>StumbleUpon is a unique tool because it helps you discover content that's related to the topics you're interested. For example, on my channel at <a href="http://www.stumbleupon.com/stumbler/JoeSamson/likes" target="_blank">StumbleUpon - Joe Samson</a>, I have a lot of excellent real estate content that I otherwise might not have found.
What's even better is that you can submit content you've found, share content with others, create lists, and browse posts. With this, you’ll be able to share your own content, find useful content, and connect with others in a unique way.
FLIPBOARD<br /><a href="https://flipboard.com/@JoeSamson" target="_blank"><img style="margin: 5px 10px 0px 0px; float: left;" src="/userFiles/840/image/blog/social_media/Flipboard-icon.png" alt="Flipboard" width="50" height="50" /></a>Flipboard is an application geared towards mobile users to aggregate and to find great content to read. In essence, it’s another bookmarking site. Flipboard was initially launched in 2010, and it quickly became one of the most popular downloaded apps in the Apple Store.
My profile <a href="https://flipboard.com/@JoeSamson" target="_blank">Joe Samson - Flipboard</a> only focuses on real estate type articles. You can find many high-quality real estate articles shared by the best REALTORS® throughout North America.
Enhancing Your Social Media Presence
With the many social media tools you have to use, it’s easier than ever to gain exposure in the real estate field. Of course, you don’t have to use all of these, but the more that you participate in regularly, the better. The more sites you join, the more people are going to see your name, your articles, and links to your main website or blog.
You’ll also be able to connect with other agents, which can further help you expand your network. To get started, simply use this outline and enjoy reaping the benefits that social media has to offer!
A special thanks and acknowledgment to <a href="http://www.maxrealestateexposure.com/" target="_blank">Bill Gassett, a trusted real estate agent in Massachusetts</a> and to <a href="http://www.rochesterrealestateblog.com/" target="_blank">Kyle Hiscock, a top REALTOR® in Rochester, NY</a> for being the pioneers in real estate marketing, for their selfless persistence of helping their colleagues and for their continuous inspiration to pursue social media and content marketing strategies. Be sure to check out Bill's and Kyle's real estate blogs and social media profiles to see more great examples of social media content marketing.
<img style="display: block; margin-left: auto; margin-right: auto;" src="/userFiles/840/image/blog/social_media/social-media-real-estate-marketing.png" alt="Real Estate Social Media Marketing" width="600" height="314" />2016-11-30T15:13:00-07:002020-01-03T09:18:58-07:00Joe Samsontag:joesamson.com,2012-09-20:36018 Reasons Why REALTORS® Will Be Needed FOREVER!<img src="/userFiles/840/image/blog/8-reasons-why-realtors-will-be-needed-forever.png" alt="8 Reasons Why REALTORS Will be Needed FOREVER!" width="800" height="419" style="display: block; margin-left: auto; margin-right: auto;" />
In certain situations, it’s important to have the expertise of a trained and experienced professional. After all, their time in the classroom and on the job has provided them with insight that can help you when you need it the most.
While this might remind you of a time when you needed to see a doctor or another professional, what if you’re about to buy or sell a home? This situation, while different from prescribing a remedy to your problem, still requires the expertise that only an <a href="https://www.joesamson.com/agents/125/joe-samson/" title="Joe Samson Calgary Real Estate Agent">experienced real estate agent</a> can provide.
Thinking of hiring an agent to help you buy or sell? Below you’ll find 8 reasons why it’s essential to work with a real estate agent.
1. A Good Agent Will Focus on Educating vs. Selling to a Client
It’s no secret that agents are dedicated to selling to their clients, but a good agent isn’t going to stop there. They will also educate you on the entire process so you understand what to expect and situations that may come up once the buying or selling process begins. The agent, just as you, wants to make sure you make a smart and educated decision.
Let’s say you’re a seller and ready to get your home on the market so you can move. Is your property really ready for the market? Should you leave your decorations or have professional home staging done? What about the price, is it fair?
Do you know <a href="https://www.joesamson.com/blog/why-realtors-are-worth-so-much/" title="Read: Why REALTORS® are Worth So Much?">how much it costs to sell a house?</a> As you can see, there are a lot of questions that need to be answered before your home is actually listed. An agent will help you learn about every aspect of selling a home so you have confidence.
On the flip side, let’s say you’re a buyer and ready to get the keys to a new home. Have you been pre-approved by a lender? Do you have realistic expectations for what you can afford? Do you know how to make a strong offer?
If you’re not prepared, then buying a home can turn from exciting to seemingly impossible. By working with an agent, you’ll transform the way you think about buying real estate. They will focus on setting realistic expectations and guiding you through the process so buying doesn’t seem as overwhelming.
One of the best ways to make sure that you are hiring a REALTOR® who’s priority is their client’s interest is by reviewing his website for added information that will help you to make a better decision.
A great place to find information about buying or selling a home would be a personal <a href="https://www.joesamson.com/blog/" title="Calgary Real Estate Blog/News">real estate blog</a> of the agent. Learning about the communities that you are considering is also significant. Look for detailed community descriptions such as <a href="https://www.joesamson.com/calgary-south/silverado/" title="View Homes in Silverado">Silverado homes for sale</a> or meaningful organization of the website that you can easily navigate.
Being able to search for a home based on whether it’s a <a href="https://www.joesamson.com/calgary-luxury-homes/" title="Search LUXURY HOMES for sale in Calgary">luxury home</a> or a <a href="https://www.joesamson.com/calgary-townhouses/" title="Search TOWNHOUSES for sale in Calgary">townhouse</a> is important to filter down the available options to the ones that only matter to you.
2. REALTORS® Know How to Create Outstanding Marketing
It’s difficult for most buyers to walk into a poorly presented <a href="https://www.joesamson.com/calgary-open-houses/" title="view OPEN HOUSES in Calgary">open house</a> and imagine the potential it could have. Sure the agent might be able to try and explain what could be but having the buyer imagine it can be difficult. This is why it’s essential to prepare a home for being sold in the right way. Some of the most important aspects of this include:
Staging
Decorating/Designing
Photographing
Video Producing
Exterior/Interior Improvements
While you may be able to find each of these things on your own, that doesn’t mean you’ll make the right choices. For example, do you know which real estate photographer is going to get the BEST shots of your home so it’s clear how big the rooms are? With each of these details, you don’t want to take chances.
You’ll save time, money, and frustration by having an agent help you with finding professionals who will do an excellent job of presenting your property.
Your home has its own individual style, story, and appeal. While you might know that, conveying that to others may not be so easy. An agent is going to be the one to help you effectively market why your home is so fantastic. They may even be able to connect you with vendors that could offer discounts to the potential buyers of the home, giving people further incentive to make an offer.
3. It Takes a REALTOR® to Know Local Market Conditions
When it comes to both buying and selling a home, there are a lot of things you’ll learn during the process. For example, if you’re selling, do you know what the local market conditions are? For those without experience, this is very unlikely. Real estate agents are in-tune with conditions in your immediate market so they know things like:
Type of audience for your home
Where to advertise to buyers
Where most buyers are coming from to see your home
Average number of days it takes to sell a home
The average asking price versus sales price
Trends in real estate in your area
Whether or not sellers pay closing costs
Challenges you could face due to your location
With in-depth knowledge of your market and real estate conditions in your area, your agent can educate you all about the facts. This means facing reality rather than having expectations that are likely not to be met. Even if you’re looking to buy, they will help make sure you get the most for your money and are aware of every realistic challenge, obstacle, and the possibility for you to expect.
With so many mistakes that could occur without the right knowledge, it’s necessary to have the guidance of a real estate professional. They’ll help you avoid these mistakes and make smart decisions that are likely to save you money.
4. Effective Social Media Coverage is a Priority
<img style="float: right;" src="/userFiles/840/image/blog/social-media-real-estate.jpg" alt="Social Media Coverage in Real Estate" width="350" height="265" />Social media marketing is one of the fastest and most effective ways to reach potential buyers. While it might be tempting to post your home for sale on your social media, chances are most of those are your family and friends who won’t be likely to make the purchase. If you’d like to reach more people both locally and nationally, then you need an agent who can help.
When you work with an agent, they will be able to use their digital marketing tools (such as predictive analytics) to show your home to hundreds or even thousands of people in minutes. If you work with a <a href="https://www.joesamson.com/about/" title="Joe Samson & Associates Real Estate Team">top real estate agent</a>, then you can expect even more. That’s because they’ll use smart marketing techniques and pictures/videos to help boost the viewers of your home.
5. Agents Know How to Negotiate the Best
Sure you might know how to negotiate a deal for something you want at a swap meet, but negotiating in real estate is a much more complex type of situation. When it comes down to it, do you really know how to sell a home? What if the buyer presents an offer you want to counter or one that is way too low for you to even consider? When it comes to buying a home, there are just as many needs for negotiating. What would you do if the seller wouldn’t fix something or come down on a too-high price?
Knowing what to do can feel impossible when you’re in the situation, especially if you haven’t dealt with it before. By working with an agent you’ll be able to create a smart strategy, negotiate effectively, and manage the situation in the best way possible. How do they do this? By using their experience, gathering <a href="https://www.joesamson.com/blog/calgary-real-estate-market-statistics/" title="Calgary Real Estate Market Statistics">statistics on the local real estate market</a>, and considering smart negotiation tactics they’ve learned over the years. Having them as your buffer will ensure you’re not at the forefront and can keep emotions out of such an important financial decision.
6. Real Estate Agents Know How to Handle Heated Conversations
While it would be nice to get through a real estate transaction without any problems, this is very rarely the case and sometimes certain <a href="https://www.joesamson.com/blog/sizzling-situations-between-real-estate-agents-and-clients/" title="Read: Sizzling Situations Between Real Estate Agents and Clients">home buying situations can get out of hand</a>. For example, what would you do if you were buying a home and the home inspection revealed a problem with the roof, troublesome plumbing, or black mould?
Or, what would you do if you were selling a home and the inspector was trying to make a simple problem seem like a larger one? First of all, you need to be clear about <a href="https://www.joesamson.com/blog/how-to-choose-a-home-inspector/" title="Read: How to Choose a Home Inspector">how to hire a home inspector that you can trust</a>. But most importantly, facing these problems alone can feel impossible and turn you from hopeful to irritated, resulting in clouded judgement.
When you have a <a href="https://www.joesamson.com/blog/over-the-top-customer-services-stories-by-realtors/" title="Read: Over the Top Customer Services Stories by REALTORS">great real estate agent providing excellent service</a>, you have someone who knows how to deal with even the most stressful situations -- all without losing their cool. Whether you want to prevent a buyer from backing out or you need help telling a seller about repairs that need to be addressed, your agent will be there. Their experience in this field and critical thinking skills means they’re able to solve problems to help you through. By standing tall, pulling their experience, and being realistic they can help you overcome challenges during any stage of your purchase or sale.
Encountering a problem in real estate might sound frightening, and for those who are dealing with them alone, they are. Even with research, you can never anticipate what’s going to come and the myriad of challenges that could be waiting for you. If you want to stand tall and fight for the deal, then an agent is going to be your best line of defence.
<img style="display: block; margin-left: auto; margin-right: auto; border: 1px solid black;" src="/userFiles/840/image/blog/can-you-handle-a-tough-conversation-01.png" alt="Real estate agents know how to handle tough conversations!" width="600" height="900" />
7. Online Home Evaluations Are Never Going to be Accurate
It’s no secret that there are incredible (and useful) tools at your disposal when it comes to researching real estate evaluations. For example, in minutes you could be online looking at a valuation of your property right from your phone or computer. However, how accurate are these valuations really?
In the majority of situations, they are not accurate because they do not consider many factors. For example, what properties is the valuation based on? How long ago did the properties sell? Were those homes comparable to yours? With so many outlying factors to consider, it’s easy to see why you should never rely on online home evaluations.
Just like you shouldn’t go online to self-diagnose your symptoms, you shouldn’t merely rely on information gathered online to complete your home valuation. By doing so, you are very likely to end up with inaccurate information that could hurt you in the long run.
8. An Agent is Your BFF (Best Friend Forever)!
Real estate agents are unique because they’re some of the only professionals who don’t have set office hours. Sure they might prefer to work 9-5, but if a client has a question outside of those normal office hours, they will be there to help. Their priority, in addition to helping make a sale, is to make sure their clients know that they are important.
Whenever you need advice, just send them an e-mail or give them a call to get the information that you need. You won’t have to worry about paying for every point of contact (like you would with a lawyer) because real estate agents work differently. By knowing that they’re available to help you, there will be no reason to succumb to confusion or fear. Trust them to help you make this incredibly important decision.
Final Thoughts
Walking into the real estate process without any knowledge of how it works is a recipe for disaster. In addition to not understanding the market and changes that are so common, you won’t have a reliable source for information. With a top real estate agent on your side, you can let go of common worries and smile knowing you have an experienced professional, eager and ready to help you. By hiring them, you can look forward to the good things that are about o come!2016-10-24T14:31:00-07:002018-02-18T19:54:00-07:00Joe Samsontag:joesamson.com,2012-09-20:3602Best Real Estate Posts, EVER!!!<img style="float: right; padding: 10px;" src="/userFiles/840/image/blog/best_posts/best-real-estate-posts.png" alt="Best real estate round-up posts" width="450" height="743" />The internet is full of real estate experts and wannabes who are constantly trying to offer advice and tips to their readers.
Unfortunately most of the time nobody is interested anymore of reading another article of the “Top 10 Tips…” or “How to paint your dog house”.
Seriously, the internet has more information than we need or could ever have the time to read. We only have a limited amount of time to sort through the pile of rubbish that’s coming at us every day. And in order to find the diamonds that is worth spending the time paying attention to we only have split seconds to make a decision whether we the article is worthwhile to read.
I have taken a stab at helping you to narrow it down to you a bit and only include the best and most distinct real estate bloggers that I was able to cross paths with today. It is a privilege for me to know these guys as many of them have been great mentors and inspiration to me.
The real estate experts mentioned on this page are pioneers of putting online technology and marketing to use for the benefit of their clients, and because of their constant strive to figure things out, they have become proven leaders of their local markets.
I truly think that the resources referenced on this page are invaluable for anyone who is looking for authentic advise about real estate. Consider this round-up of articles to be the cream of the pie with some extra icing on it with the cherry sitting in the middle.
Enjoy all the real estate article and resources mentioned on this page. If you like what you have read please share with others or leave a comment below.
<img style="float: left;" src="/userFiles/840/image/blog/best_posts/bill.png" alt="" width="150" height="150" />The Ups and Downs of Delaying Showings <a href="https://twitter.com/massrealty" target="_blank"><img style="float: right; padding: 1px;" src="/userFiles/840/image/blog/best_posts/twitter.png" alt="" width="40" height="40" /></a><a href="https://plus.google.com/u/0/+BillGassett/posts" target="_blank"><img style="float: right; padding: 1px;" src="/userFiles/840/image/blog/best_posts/googleplus.png" alt="" width="40" height="40" /></a><a href="https://www.facebook.com/realtormabillgassett/" target="_blank"><img style="float: right; padding: 1px;" src="/userFiles/840/image/blog/best_posts/facebook.png" alt="" width="40" height="40" /></a>
Bill Gassett is a legend when it comes to blogging about real estate. I seriously can’t think of any blog topic that Bill hasn’t covered yet. Bill talks about the <a href="http://www.maxrealestateexposure.com/pros-cons-deferred-showings/" target="_blank">pros and cons of deferred showings</a> when a new listing goes on the market. Some of the greatest benefits of not letting buyers see the listing for a few days once it goes on the market allows some excitement to be built up around the listing and perhaps it could create a bidding war situation if offers are presented at the same time. These strategies could work well in a hot real estate market.
Some of the cons of deferred showings could be that not many buyers may appreciate it that they are being played and they may altogether turn away from being interested in the property. The answer whether you should defer showings greatly depends on the <a href="https://www.joesamson.com/blog/calgary-real-estate-market-statistics/" title="Calgary Real Estate Market Statistics">current market conditions</a> and most importantly it should be discussed with the owner in great detail and they are the ones who need to make the call on this.
<a href="http://www.maxrealestateexposure.com/pros-cons-deferred-showings/" target="_blank"><img src="/userFiles/840/image/blog/best_posts/pros-cons-of-deferred-showings.png" alt="" width="650" height="187" /></a>
Best real estate posts, EVER! <a href="https://t.co/umdG5lCm5q">https://t.co/umdG5lCm5q</a> <a href="https://twitter.com/hashtag/realestate?src=hash">#realestate</a> <a href="https://twitter.com/hashtag/bestrealtor?src=hash">#bestrealtor</a> <a href="https://twitter.com/hashtag/blogging?src=hash">#blogging</a> <a href="https://t.co/IZLyAWI1AL">pic.twitter.com/IZLyAWI1AL</a>
— Joe Samson (@JoeSamson) <a href="https://twitter.com/JoeSamson/status/745678588117147648">June 22, 2016</a>
<img style="float: left;" src="/userFiles/840/image/blog/best_posts/aman.png" alt="" width="150" height="150" />Must Knows When Building a Home<a href="https://twitter.com/njrealtyhomes" target="_blank"><img style="float: right; padding: 1px;" src="/userFiles/840/image/blog/best_posts/twitter.png" alt="" width="40" height="40" /></a><a href="https://plus.google.com/+AmanSinghTV/posts" target="_blank"><img style="float: right; padding: 1px;" src="/userFiles/840/image/blog/best_posts/googleplus.png" alt="" width="40" height="40" /></a><img style="float: right; padding: 1px;" src="/userFiles/840/image/blog/best_posts/facebook.png" alt="" width="40" height="40" />
Aman Singh is a real estate agent in Metuchen, NU who has been putting his experience to use while creating awesome blog posts for his readers. Aman points out that while there are some huge benefits to buying a new construction home like: being able to customize the layout, not having to do any work yourself, being able to include some of the newest technology in home system controls, and most importantly no need to worry about home repairs as the new home warranty is still in place for years to come.
Owning a used home could come with some surprises such as maintenance issues that may not have been discovered during the home inspection phase or rooms sized not being the ideal size. But some of the most appreciated rewards of owning a resale home is finding them in mature areas with tree-lined streets and having to worry about the disruption of nearby construction still going on.
If you’re looking for a new home, be careful and take your time to figure out what’s best for you. And most importantly ask your real estate agent to help you to answer your questions.
<img src="/userFiles/840/image/blog/best_posts/tips-on-buying-new-construction-homes.png" alt="Tips on Buying a New Construction Home" width="650" height="171" />
<img style="float: left;" src="/userFiles/840/image/blog/best_posts/tony-m.png" alt="" width="150" height="150" />Mortgage Programs for First Time Buyers <img style="float: right; padding: 1px;" src="/userFiles/840/image/blog/best_posts/twitter.png" alt="" width="40" height="40" /><img style="float: right; padding: 1px;" src="/userFiles/840/image/blog/best_posts/googleplus.png" alt="" width="40" height="40" /><img style="float: right; padding: 1px;" src="/userFiles/840/image/blog/best_posts/facebook.png" alt="" width="40" height="40" />
Tony Mariotti is a top Mortgage Broker located in Portland, OR. Tony identifies <a href="https://www.rubyhome.com/first-time-home-buyer/" target="_blank">5 different mortgage programs for first time home buyers</a> that virtually every one buyer should be able to fit into one of those options. It isn’t very often that home buyers are able to receive such a clear, detailed explanation about the different type of options that they have.
When it comes to deciding what mortgage products you are going to be signing off on, you should have an absolutely clear understanding of your options. Some of the programs that are available may seem to be attractive at first, but if it’s too good to believe it may just be. Read on to find out some of the mortgage traps that you need to watch out for.
<a href="https://www.rubyhome.com/first-time-home-buyer/" target="_blank"><img src="https://assets.site-static.com/userfiles/840/image/blog/best_posts/mortgage-for-first-time-home-buyers_1.png" alt="Mortgage Programs for First Time Home Buyers" width="650" height="182" /></a>
<img style="float: left;" src="/userFiles/840/image/blog/best_posts/Lynn.png" alt="" width="150" height="150" />Best Way to Sell a House Fast<a href="https://twitter.com/LynnPineda" target="_blank"><img style="float: right; padding: 1px;" src="/userFiles/840/image/blog/best_posts/twitter.png" alt="" width="40" height="40" /></a><a href="https://plus.google.com/+LynnPineda" target="_blank"><img style="float: right; padding: 1px;" src="/userFiles/840/image/blog/best_posts/googleplus.png" alt="" width="40" height="40" /></a><a href="https://www.facebook.com/ImagineYourHouse/" target="_blank"><img style="float: right; padding: 1px;" src="/userFiles/840/image/blog/best_posts/facebook.png" alt="" width="40" height="40" /></a>
Lynn Pineda never stops to amaze her readers and because of her fantastic blogging skills, she is well recognized. It is equally important for a seller and a real estate agents to be able to <a href="https://imagineyourhouse.com/seller/how-can-i-sell-my-home-fast/" target="_blank">sell a home fast</a>. One might think that we just need to post a quick ad on the internet and then the house is going to sell itself.
The reality is that real estate agents do a ton of work to complete a sale and to sell it quickly. Lynn explains that choosing the right listing price is the most important element of selling. You can either help yourself by pricing it correctly or if you end up overpricing your home, then most likely you are going to be helping your neighbour to sell their home ahead yours.
Selecting the right REALTOR® is essential as it’s going to be the glue holding everything together for you. Choosing the right real estate agent should be based on their skills and past achievements.You definitely need to work with someone who knows how to do marketing in the 21st century.
Most buyers are looking at homes online and if your home is not showing up in the top results then it means that the chances of selling are much lower than if you were to hire a marketing pro to create maximum exposure for your listing.
<a href="http://imagineyourhouse.com/seller/how-can-i-sell-my-home-fast/" target="_blank"><img src="/userFiles/840/image/blog/best_posts/selling-a-house-fast.png" alt="How to Sell a House Fast" width="650" height="224" /></a>
<img style="float: left;" src="/userFiles/840/image/blog/best_posts/jeff-01.png" alt="" width="150" height="150" />Keep More Money by a REALTOR®<a href="https://twitter.com/DFWKnoxRE" target="_blank"><img style="float: right; padding: 1px;" src="/userFiles/840/image/blog/best_posts/twitter.png" alt="" width="40" height="40" /></a><a href="https://plus.google.com/112505364355163550124" target="_blank"><img style="float: right; padding: 1px;" src="/userFiles/840/image/blog/best_posts/googleplus.png" alt="" width="40" height="40" /></a><a href="https://www.facebook.com/thedallasrealestatestore" target="_blank"><img style="float: right; padding: 1px;" src="/userFiles/840/image/blog/best_posts/facebook.png" alt="" width="40" height="40" /></a>
Jeff Knox is at the top of his game every time when working with his clients and also when it comes to online marketing. When you’re planning <a href="http://www.knoxre.com/blog/nine-reasons-why-listing-with-a-realtor-beats-fsbo.html" target="_blank">to sell your home, it’s not recommended to do it yourself</a>, just like you wouldn’t want to cut your own hair for the best results.
Successfully selling a home will largely depend on the amount of interest that you are able to drum up. Knowing how to generate hundreds of leads of active buyers will exponentially increase your chances of selling.
Owning a website is one thing, but being able to successfully market your home to thousands takes skills and knowledge of online marketing that will sell your home faster. Whatever you do, make sure you are working with someone who knows how to do <a href="https://www.joesamson.com/sellers/" title="Selling a home with online marketing">online marketing</a> that works.
It is statistically proven that when a home is sold with a REALTOR®, on average the homeowner had received more money than someone who tried to sell on their own. Real estate agents have a network of thousands of people that they can connect with to find the right buyer.
Figuring out how to complete the paperwork properly is the most important part once you had found a buyer. Signing off on things that you may not have intended to agree will lead to major financial consequences unless you have someone trained to watch over your shoulders and to explain all the legal jargon that you need to know.
<a href="http://www.knoxre.com/blog/nine-reasons-why-listing-with-a-realtor-beats-fsbo.html" target="_blank"><img src="/userFiles/840/image/blog/best_posts/selling-with-a-realtor-vs-fsbo.png" alt="Save money when selling with a Realtor" width="650" height="189" /></a>
<img style="float: left;" src="/userFiles/840/image/blog/best_posts/paul.png" alt="" width="150" height="150" />Best Way to Finance an Investment Property<a href="https://twitter.com/PaulPsian" target="_blank"><img style="float: right; padding: 1px;" src="/userFiles/840/image/blog/best_posts/twitter.png" alt="" width="40" height="40" /></a><a href="https://plus.google.com/+PaulSian" target="_blank"><img style="float: right; padding: 1px;" src="/userFiles/840/image/blog/best_posts/googleplus.png" alt="" width="40" height="40" /></a><a href="https://www.facebook.com/realtorpaulsian" target="_blank"><img style="float: right; padding: 1px;" src="/userFiles/840/image/blog/best_posts/facebook.png" alt="" width="40" height="40" /></a>
Paul Sian located in Cincinnati, OH is a top real estate agent in the area and there is no one who can even catch his shadows when it comes to dominating online marketing.
If you are looking at investing in income-producing properties you need to be aware of the differences of <a href="http://cincinkyrealestate.com/tips-financing-investment-property/" target="_blank">financing an investment property versus an owner-occupied home</a>. Banks make the assumption that if the real estate isn’t occupied by its owner, then it isn’t going to be looked after as carefully and perhaps the chances of the owner walking away from it are greater if financial problems of the owner would become an issue.
To offset these increased “risks”, the banks will normally require the investor to come up with a minimum of 20%-25% as a downpayment. There are several different ways to put down less money for a downpayment, however, usually mortgage insurance is going to be required or a premium on the offered interest rate may be needed to be paid to the lender.
The source of down payment will need to be verified and they must have been deposited in your account for at least 60 days prior to closing. This is a very important step to keep in mind as the banks don’t want you to borrow the money as it would impact your debt-to-loan ration if they were to find out.
The bottom line is to be aware that different lending rules apply to financing an investment property and most importantly you’ll need to be accurate about figuring out that you have enough cash available to complete the sale.
<a href="http://cincinkyrealestate.com/tips-financing-investment-property/" target="_blank"><img src="/userFiles/840/image/blog/best_posts/getting-financing-investment-property.png" alt="How to finance an investment property" width="650" height="183" /></a>
<img style="float: left;" src="/userFiles/840/image/blog/best_posts/ryan.png" alt="" width="150" height="150" />The Benefits of Using a REALTOR®?<a href="https://twitter.com/Raleigh__Realty" target="_blank"><img style="float: right; padding: 1px;" src="/userFiles/840/image/blog/best_posts/twitter.png" alt="" width="40" height="40" /></a><a href="https://plus.google.com/+RyanFitzgerald5" target="_blank"><img style="float: right; padding: 1px;" src="/userFiles/840/image/blog/best_posts/googleplus.png" alt="" width="40" height="40" /></a><a href="https://www.facebook.com/raleighrealtyhomes" target="_blank"><img style="float: right; padding: 1px;" src="/userFiles/840/image/blog/best_posts/facebook.png" alt="" width="40" height="40" /></a>
Ryan Fitzerald based in Raleigh, NC is one of the toughest online marketing gurus in the real estate business that I have ever come across. Ryan had simply obliviated his competition by rolling up his sleeves and not settling for anything less than being the best REALTOR® online and offline as well.
If you still have <a href="http://www.raleighrealtyhomes.com/blog/use-a-realtor-when-buying-selling-homes-raleigh-nc.html" target="_blank">doubts that selling a home with a real estate agent will cost you money</a> in the overall scheme of things, then you better read Ryan’s blog post as he will set this straight and you’ll only wish that he could become your real estate agent (unless you are in Calgary of course).
There is an 89% chance that a seller will end up listing with a REALTOR® once they have exhausted doing it on their own. Once homeowners realize how much work it actually takes to sell a house they will also appreciate getting more money for their listing because an average listing sold by a REALTOR® typically nets more than $46,000 when compared to a FSBO. Ask yourself - if you could get that much more for your home, would you still try to sell it on your own?
A deal isn’t done until the seller has the money in his back pocket. It has had happened many times before when something unexpected had shown up at the closing table and all of the sudden the entire deal became jeopardized. Nobody likes last-minute surprises as it usually results with extraordinary consequences that neither the buyer nor the seller can afford. Let’s not take any chances and find yourself a knowledgeable REALTOR® who can guarantee them that the paperwork is always completed to your advantage.
<a href="http://www.raleighrealtyhomes.com/blog/use-a-realtor-when-buying-selling-homes-raleigh-nc.html" target="_blank"><img src="/userFiles/840/image/blog/best_posts/selling-using-realtor.png" alt="Benefits of selling with a REALTOR" width="650" height="173" /></a>
<img style="float: left;" src="/userFiles/840/image/blog/best_posts/karen.png" alt="" width="150" height="150" />Busting Myths About Buying a Home<a href="https://twitter.com/365frederick" target="_blank"><img style="float: right; padding: 1px;" src="/userFiles/840/image/blog/best_posts/twitter.png" alt="" width="40" height="40" /></a><a href="https://plus.google.com/+KarenHighland" target="_blank"><img style="float: right; padding: 1px;" src="/userFiles/840/image/blog/best_posts/googleplus.png" alt="" width="40" height="40" /></a><a href="https://www.facebook.com/khhighland" target="_blank"><img style="float: right; padding: 1px;" src="/userFiles/840/image/blog/best_posts/facebook.png" alt="" width="40" height="40" /></a>
Karen Holt Highland is a long time pro out of Frederick, MD whose experience in real estate is hard to match by anyone.
There are many facts surrounding a home buying that simply aren’t true. It’s a bit of an oxymoron thinking that a fact cannot be true. But Karen shares 15 facts that she managed to disprove and she explains why you shouldn’t be believing everything, even if you can see it.
One of the <a href="http://frederickrealestateonline.com/15-bs-facts-about-homebuying-everyone-thinks-are-true/" target="_blank">biggest disbelief that people have when buying a home</a> is that interest rates are going to fall and they are just going to wait with buying real estate until it actually happens.
Well, most likely it isn’t going to happen as the economy is showing signs of great recovered and the Feds have already started to increase rates earlier in the year. Anyone sitting on the sidelines will quickly realize that while they were waiting to save a few pennies, they have passed on the opportunity to earn some dollars as real estate prices have been already going up again.
I love this one - “if Zillow says that my home is worth this much than they must be right because they said I can sell it for more than the price you told me”. It is a proven fact that online estimates can be off by as much as 10% in a typical market. A local real estate agent is always going to be more accurate by putting together a professional CMA (comparative market analysis). Be sure to check out the other facts that have been busted by Karen.
<a href="http://frederickrealestateonline.com/15-bs-facts-about-homebuying-everyone-thinks-are-true/" target="_blank"><img src="https://assets.site-static.com/userfiles/840/image/blog/best_posts/busting-real-estate-myths_1.png" alt="" width="650" height="176" /></a>
<img style="float: left;" src="/userFiles/840/image/blog/best_posts/kyle.png" alt="" width="150" height="150" />How Many Days Does it Take to Sell a Home?<a href="https://twitter.com/hiscocksoldteam" target="_blank"><img style="float: right; padding: 1px;" src="/userFiles/840/image/blog/best_posts/twitter.png" alt="" width="40" height="40" /></a><a href="https://plus.google.com/+KeithHiscockSoldTeamRochester/about" target="_blank"><img style="float: right; padding: 1px;" src="/userFiles/840/image/blog/best_posts/googleplus.png" alt="" width="40" height="40" /></a><a href="https://www.facebook.com/HiscockSoldTeam/" target="_blank"><img style="float: right; padding: 1px;" src="/userFiles/840/image/blog/best_posts/facebook.png" alt="" width="40" height="40" /></a>
Kyle Hiscock is another marketing legend. His clients are lucky to have him on their side when it comes to selling a home as he is the best I’d ever come across in Rochester, NY. Heck, if I were living in his town and wanted to sell, I would probably ask him to market my home because he is definitely hard to keep up with when it comes to marketing a home online.
We have been asked many times - “<a href="http://www.rochesterrealestateblog.com/how-long-does-it-take-to-sell-a-home/" target="_blank">How long is it going to take to sell my home</a>?”. Well, the quick answer is: it depends… Certain factors like the current market conditions are going to have a significant impact on the time it takes to find the right buyer. Every market has three types of market conditions. It could either be a seller’s market, buyer’s market or when everything is just normal is called a balanced market. <br /> <br />Pricing your home accurately is going to have the largest impact on the length that your home is going to be listed for on the market. If you choose to ignore the pricing advise of your REALTOR®, then you might as well anchor down and be prepared to be showing your home for a very long time.
Working with a real estate agent who knows his game and has a listing strategy in place is going to be a crucial element in your selling process. Hiring the wrong person for the job will make or break your plans of selling or it may take much longer for you to get someone on the hook if you just leave everything up to a chance to work out.
<a href="http://www.rochesterrealestateblog.com/how-long-does-it-take-to-sell-a-home/" target="_blank"><img src="/userFiles/840/image/blog/best_posts/time-to-sell-a-home.png" alt="How long does it take to sell a home?" width="650" height="183" /></a>
<img style="float: left;" src="/userFiles/840/image/blog/best_posts/luke.png" alt="" width="150" height="150" />The Truth Behind a Mortgage Approval<a href="https://twitter.com/MadisonMortgage" target="_blank"><img style="float: right; padding: 1px;" src="/userFiles/840/image/blog/best_posts/twitter.png" alt="" width="40" height="40" /></a><a href="https://plus.google.com/+MadisonMortgageGuys/posts" target="_blank"><img style="float: right; padding: 1px;" src="/userFiles/840/image/blog/best_posts/googleplus.png" alt="" width="40" height="40" /></a><a href="https://www.facebook.com/madisonmortgage" target="_blank"><img style="float: right; padding: 1px;" src="/userFiles/840/image/blog/best_posts/facebook.png" alt="" width="40" height="40" /></a>
Luke Skar is a true master at online marketing within the mortgage industry. Luke’s been involved with mortgages since 2001 and now he is not only exceptional while helping his clients, but he also thrives when it comes to SEO knowledge.
Many home buyers are unaware of that while they think that they already have a mortgage secured, more often than they should, they fall on their faces when they find out that they cannot qualify for the mortgage. After spending a bunch of time with their REALTOR® and finally locating “the” perfect home, they are disappointed to learn that they cannot buy that house. Unfortunately, the reasons are because they only had a <a href="https://www.madisonmortgageguys.com/pre-approval-vs-pre-qualification/" target="_blank">pre-qualification done at the bank</a>.
Pre-qualifications only take a few minutes to complete. Quite often they can be done either over the telephone or by a quick online questionnaire without the request of any supportive documents. In essence, this is nothing more than a conversation between the lender without any commitment coming from the bank.
A <a href="https://www.joesamson.com/blog/reasons-why-you-need-a-mortgage-pre-approval/" title="Read: Reasons Why You Need a Mortgage Pre-approval">mortgage pre-approval</a> shows that the bank had done all their due diligence on you and that you have provided them with all the necessary documents to prove your worthiness of receiving a mortgage. At this point, all you should need to have left to do is to go out there and find that perfect home for your family.
The lesson is that when you are at the beginning of your home search, you can get an approximate idea of how much you are able to <a href="https://www.joesamson.com/blog/how-much-real-estate-can-you-afford/" title="Read: How Much Real Estate Can You Afford?">qualify</a> for. This information should get you in the ballpark, but by all means, it is not a guarantee that you can start planning a home search on. Therefore, without providing the necessary documents to the lender, there is no point to look at any houses and waste anybody’s time.
Although, it may sound very tempting to do, if you respect your own time and other people’s time, like the real estate agent and the homeowner. Let’s save them the disappointment and get pre-approved before you seriously start looking at any homes.
<a href="https://www.madisonmortgageguys.com/pre-approval-vs-pre-qualification/" target="_blank"><img src="/userFiles/840/image/blog/best_posts/mortgage-preaproval.png" alt="Mortgage pre-approval vs. pre-qualification" width="650" height="178" /></a>
<img style="float: left;" src="/userFiles/840/image/blog/best_posts/xavier.png" alt="" width="150" height="150" />How to Sell a Home With Tenants<a href="https://twitter.com/XavierDeBuck" target="_blank"><img style="float: right; padding: 1px;" src="/userFiles/840/image/blog/best_posts/twitter.png" alt="" width="40" height="40" /></a><a href="https://plus.google.com/+XavierDeBuck/posts" target="_blank"><img style="float: right; padding: 1px;" src="/userFiles/840/image/blog/best_posts/googleplus.png" alt="" width="40" height="40" /></a><a href="https://www.facebook.com/NorthcliffRealEstate" target="_blank"><img style="float: right; padding: 1px;" src="/userFiles/840/image/blog/best_posts/facebook.png" alt="" width="40" height="40" /></a>
Xavier De Buck is based out of Blackheath, Gauteng. His work ethics and skills in real estate had reached far beyond his continent from South Africa to all the way to the U.S & Canada.
Many landlords are asking whether they should be <a href="https://luxuryhomesjohannesburg.com/real-estate-blog/selling-a-house-with-tenants/" target="_blank">listing a house for sale while a tenant lives there</a> or they should wait for them to move out first? While it sounds tempting to hang on to that extra cash flow while the tenant resides on the premises, but having a tenant around for showings could have its own challenges which could deeply impact the final sale price and it could cost much more in the long run than what the owner could gain through the few months of extra rental income.
Fortunately, there are several ways to make things to go seamlessly if the landlord wants to hang on to the extra income while putting the house up for sale.
Obviously, the tenant is fully entitled to live there until the lease expires. But at the same time, the landlord is also entitled to bring potential buyers through the property. Things could get really interesting if the tenant just doesn’t give a “hoot” about how the property looks.
By helping the tenant out to keep things tidy like paying for a weekly cleaning service or landscaper could go a long way and the tenant will appreciate it as well. Usually, it’s the appearance of the home that is the biggest concern, so if you have that part covered, then it’s just a matter of treating the tenant like you would want to be treated if you were in his shoes.
Make sure to provide sufficient noticed to the tenant. Different jurisdictions have different rules about this, but a good rule of thump is to give them at least 24 hours of notice to keep the relationship on the positive side.
Another scenario that could unfold is when the tenant gets all grumpy and fells like they are going to do anything just to delay the time when they have to end up moving. If this is the case you may be able to offer the tenant a bit of an incentive. Many landlords that I had met offered free pizza to them once a week or even a free month’s rent if they kept their end of the bargain up.
And finally if push comes to shove, then sometimes the landlords just needs to bite the bullet and wait for the tenant to pack up and leave. This way the property can be presented in a neutral way without the side effects of a bad tenant that would drag down the value of your home.
<a href="https://luxuryhomesjohannesburg.com/real-estate-blog/selling-a-house-with-tenants/" target="_blank"><img src="/userFiles/840/image/blog/best_posts/selling-a-home-with-tenants_1.png" alt="Selling a home with tenants" width="650" height="179" /></a>
<img style="float: left;" src="/userFiles/840/image/blog/best_posts/debbie.png" alt="" width="150" height="150" />Tips for Buying a Luxury Home<a href="https://twitter.com/vegashomepro" target="_blank"><img style="float: right; padding: 1px;" src="/userFiles/840/image/blog/best_posts/twitter.png" alt="" width="40" height="40" /></a><a href="https://plus.google.com/+DebbieDrummond/about" target="_blank"><img style="float: right; padding: 1px;" src="/userFiles/840/image/blog/best_posts/googleplus.png" alt="" width="40" height="40" /></a><a href="https://www.facebook.com/vegashomepro?ref=hl" target="_blank"><img style="float: right; padding: 1px;" src="/userFiles/840/image/blog/best_posts/facebook.png" alt="" width="40" height="40" /></a>
Debbie Drummond sits at the top when it comes to selling real estate in Las Vegas. With over 10 years in real estate, she has successfully carved herself a niche into the luxury home market of her area.
The way people are used to <a href="http://www.thelasvegasluxuryhomepro.com/blog/luxury-home-buying-tips-for-2016.html" target="_blank">buying a luxury homes in 2016</a> is way different than what it used to be just a few years ago. Flying drones are dominating the skies over many new listings as real estate agents have taken note of the importance of showing the real estate that is for sale. In today’s competitive housing market it is essential to present the home in the best possible way to potential clients.
Property tours of homes are also very popular. Even though they have been around for a while, new technology allows buyers to walk though the house as if they were viewing it in person. <a href="https://www.joesamson.com/blog/3d-property-tours-calgary/" title="Read: 3D Property Tour is the NEW Cool in Real Estate">3D property tours</a> are interactive and lets the user to take a walk through entire home.
Not every view is created equal. It’s important to pay attention to what the view could become years down the road. Many areas undergo major redevelopments and proper due diligence of the surrounding area is imperative for everyone before investing into a <a href="https://www.joesamson.com/calgary-luxury-homes/" title="Search LUXURY HOMES for sale in Calgary">luxury home</a>.
Many financing options are available to multi-million dollar properties as well. Even though a good proportion of home buyers are paying cash for their luxury homes, in some cases sellers are requesting proof of funds of financing to be in place before allowing anyone to come through their door for a visit.
Be sure to have the best professionals on your side, especially a <a href="https://www.joesamson.com/agents/125/joe-samson/" title="Joe Samson - Calgary REALTOR">local real estate agent</a> who specializes in luxury homes for sale.
<a href="http://www.thelasvegasluxuryhomepro.com/blog/luxury-home-buying-tips-for-2016.html" target="_blank"><img src="/userFiles/840/image/blog/best_posts/luxury-home-buying.png" alt="Buying Luxury Home" width="650" height="205" /></a>
<img style="float: left;" src="/userFiles/840/image/blog/best_posts/david.png" alt="" width="150" height="150" />Are Home Warranties Worth the Money?<a href="https://twitter.com/davidorealtor" target="_blank"><img style="float: right; padding: 1px;" src="/userFiles/840/image/blog/best_posts/twitter.png" alt="" width="40" height="40" /></a><a href="https://plus.google.com/u/0/+DavidODoherty1/posts" target="_blank"><img style="float: right; padding: 1px;" src="/userFiles/840/image/blog/best_posts/googleplus.png" alt="" width="40" height="40" /></a><a href="https://www.facebook.com/david.odoherty.376?fref=ts" target="_blank"><img style="float: right; padding: 1px;" src="/userFiles/840/image/blog/best_posts/facebook.png" alt="" width="40" height="40" /></a>
David O’Doherty in Clayton, NC does a fantastic job with his online marketing to keep buyers and sellers informed on his <a href="https://www.joesamson.com/blog/" title="Calgary Real Estate Blog/News">real estate blog</a>. In his latest posts he explains what a <a href="http://livinginnc.com/real-estate-blog/what-does-a-home-warranty-cover/" target="_blank">90 day home warranty covers</a> and helps to decides if it’s worth considering.
Most home warranties come with certain limitations. For example, if the buyer were to discover problems with the HVAC system, they would only covers the costs of repairs for up to $1,500 regardless if a totally new replacement system would run you in excess of $4,000 - $5000.
Buying a home warranty could cost about $500 on average. So depending on the level of risk that you would be willing to take, it might be a great thing to consider for the sake of having a piece of mind in place. When one puts it in perspective of the total purchase price, it’s actually a really small portion of the overall cost of the real estate.
Be sure not to mistaken a used home warranty with a builder’s warranty. New home warranties typically are good for 10 years and they only cover major structural issues if it were to be discovered. In this case, the builder would be on the hook to remedy the problem and the cost of enabling the owner with benefits of the program should be bared by the developer.
<a href="http://livinginnc.com/real-estate-blog/what-does-a-home-warranty-cover/" target="_blank"><img src="/userFiles/840/image/blog/best_posts/home-warranty-program.png" alt="Home Warranty Program" width="650" height="202" /></a>
<img style="float: left;" src="/userFiles/840/image/blog/best_posts/debbi-g.png" alt="" width="150" height="150" />Preventing Scratches on Floors<a href="https://twitter.com/DebbieGartner" target="_blank"><img style="float: right; padding: 1px;" src="/userFiles/840/image/blog/best_posts/twitter.png" alt="" width="40" height="40" /></a><a href="https://plus.google.com/+DebbieGartner/posts" target="_blank"><img style="float: right; padding: 1px;" src="/userFiles/840/image/blog/best_posts/googleplus.png" alt="" width="40" height="40" /></a><a href="https://www.facebook.com/debbie.gartner" target="_blank"><img style="float: right; padding: 1px;" src="/userFiles/840/image/blog/best_posts/facebook.png" alt="" width="40" height="40" /></a>
Debbie Gartner is also known as The Flooring Girl who provides unbelievable tips and tricks of everything that you need to know about the floors in your house.
One of the biggest issues when selling a used home are damaged floors. If the carpets are several years old with kids and pets around, there is a really good chance that the buyer will want to make some changes to it or would expect it to be in new condition since they will be paying top dollar for their investments.
Many style of homes come with hardwood floors in them and regardless of how careful you are with taking good care of it, it is going to get scratched if you don’t pay special attention to looking after it. The good news is that <a href="http://theflooringgirl.com/hardwood-flooring/how-to-prevent-scratches-in-your-hardwood-flooring.html" target="_blank">preventing the floor from getting scratched</a> is the best thing that you can do.
Debbie goes on to explain that avoiding wearing certain types of footwear, wearing socks all the time and using the proper cleaning solutions are the best weapon of choice. There are some other types of additives and special coats of solvents that can be applied, but by all means it should be decided by a professionals which products to use and how to apply.
<a href="http://theflooringgirl.com/hardwood-flooring/how-to-prevent-scratches-in-your-hardwood-flooring.html" target="_blank"><img src="/userFiles/840/image/blog/best_posts/preventing-scratches-in-floors_1.png" alt="Preventing Scratches on Hardwood Floors" width="650" height="178" /></a>
<img style="float: left;" src="/userFiles/840/image/blog/best_posts/anita.png" alt="" width=" alt=" height="150" />Why Buyers Need to be Represented?<a href="https://twitter.com/Anita_Clark" target="_blank"><img style="float: right; padding: 1px;" src="/userFiles/840/image/blog/best_posts/twitter.png" alt="" width="40" height="40" /></a><a href="https://plus.google.com/+AnitaClark" target="_blank"><img style="float: right; padding: 1px;" src="/userFiles/840/image/blog/best_posts/googleplus.png" alt="" width="40" height="40" /></a><a href="https://www.facebook.com/WarnerRobinsRealtor" target="_blank"><img style="float: right; padding: 1px;" src="/userFiles/840/image/blog/best_posts/facebook.png" alt="" width="40" height="40" /></a>
Anita Clark is not only a top notch real estate expert out of Warner Robins, GA, but she is the queen of equipping home buyers and sellers with invaluable information.
Buyers tend to think that they are okay to just wonder out and buy a home though an open house without their own real estate agent. The misconception behind this train of thought is that they are expecting to save the REALTOR®’S fee, but what other important considerations are they not paying attention to that’s potentially costing them tens of thousands of dollars?
Anita explains that are at least 10 hazards of representing yourself against a seller. One of the most common pitfalls of dealign directly with the seller’s real estate agent is that they already have a contractual obligation to get the best possible deal for the seller and now they are venturing onto a territory where conflict of interest is guaranteed to become an issue.
The only way to avoid a dual agency situation is to have your own buyer’s agent (just as 87% of all buyers do) to make sure that someone is advocating on your own behalf. One of the best <a href="https://www.joesamson.com/blog/5-profound-mistakes-that-homebuyers-need-to-avoid/" title="Read: 5 Profound Mistakes that Homebuyers Need to Avoid">examples of paying for a mistake</a> is when the buyer thinks that they got so much off of the asking price, but little they may know of how overpriced the property was to begin with, and at the end they may still end of paying more than they should have despite the perceived discount of the purchase price.
<img src="/userFiles/840/image/blog/best_posts/why-you-need-a-buyer-agent.png" alt="Why buyers need to be represented" width="650" height="225" />
<img style="float: left;" src="/userFiles/840/image/blog/best_posts/bill.png" alt="" width="150" height="150" />Be Careful with a Reverse Mortgage<a href="https://twitter.com/massrealty" target="_blank"><img style="float: right; padding: 1px;" src="/userFiles/840/image/blog/best_posts/twitter.png" alt="" width="40" height="40" /></a><a href="https://plus.google.com/+BillGassett" target="_blank"><img style="float: right; padding: 1px;" src="/userFiles/840/image/blog/best_posts/googleplus.png" alt="" width="40" height="40" /></a><a href="https://www.facebook.com/realtormabillgassett/" target="_blank"><img style="float: right; padding: 1px;" src="/userFiles/840/image/blog/best_posts/facebook.png" alt="" width="40" height="40" /></a>
Reverse mortgages have been around for a long time and it’s just a matter of time before a home owner with a reverse mortgage registered decides to list. <a href="http://www.maxrealestateexposure.com/how-to-sell-home-with-reverse-mortgage/" target="_blank">Selling a home with a reversed mortgage</a> is very similar to one with a regular mortgage on it. However there are some important details that Bill points out in his article that every listing agent should pay attention to.
In some cases a home with a reverse mortgage could become a short sale which could make closing a bit difficult if the seller doesn’t have any cash to bring to the table. In this case be sure to complete a thorough due diligence while preparing the property to be listed and avoid problems down the road. An experienced agent is what you need to have to deal with special types of mortgages.
<a href="http://www.maxrealestateexposure.com/how-to-sell-home-with-reverse-mortgage/" target="_blank"><img src="/userFiles/840/image/blog/best_posts/Screen_Shot_2016-06-16_at_2.43.14_PM.png" alt="" width="650" height="173" /></a>
<img style="float: left;" src="/userFiles/840/image/blog/best_posts/angela.png" alt="" width=" alt=" height="150" />How to Choose the Best REALTOR®<a href="https://twitter.com/AngelaRealtorUT" target="_blank"><img style="float: right; padding: 1px;" src="/userFiles/840/image/blog/best_posts/twitter.png" alt="" width="40" height="40" /></a><a href="https://plus.google.com/+TremontonRealEstate/videos" target="_blank"><img style="float: right; padding: 1px;" src="/userFiles/840/image/blog/best_posts/googleplus.png" alt="" width="40" height="40" /></a><img style="float: right; padding: 1px;" src="/userFiles/840/image/blog/best_posts/facebook.png" alt="" width="40" height="40" />
Angela Duong in Tremonton, UT surely does a great job with helping her clients as she always goes above and beyond to do a great job for them. She provides over the top advice of all things about real estate and she has taken a special liking to make sure that when someone hires a REALTOR®, they know how to do a thorough job at it.
There are countless ways to “skin a cat” but there are only a few very <a href="http://www.madhomesutah.com/blog/7-things-to-consider-when-choosing-a-realtor.html" target="_blank">important questions that a real estate agent</a> interview shouldn’t go without. Hiring a local agent is one of the top priorities to consider when trusting someone with your largest investment. A local expert is going to be able to provide you with great <a href="https://www.joesamson.com/communities/" title="Calgary Community Information and Highlights">insights of the community</a> and future developments that may be impacting your decision making process.
Having a good reputation is probably needless to say that is important to remember. In the past it was very easy for someone to fall off the radar and to have a clean slate eery time they messed up something. With today’s technology, a quick Google search will most likely prevail every complaint and wrong doing of the individual. Be sure to take an extra few minutes and research some reviews of the local REALTOR®.
One of the telling signs that you are dealing with the wrong person if his online presence is non-existent. Research prevailed that over 90 percent of home buyers begin their <a href="https://www.joesamson.com/blog/how-to-search-for-a-home-online/" title="Read: How to Search for a Home Online">search online</a>. If the person that you choose to enable to find your dream home does not make the effort to have their own website then it’s probably another sign that you may be dealing with a “dinosaur”.
Standing out from the crowd shows a level of commitment and getting to know the agent though his website before is a real useful way to get a grip on what it would be like working with this guy.
A REALTOR® being flexible with his schedule is always important. Most buyers have time to view properties on the weekend or after work. Communicating with you in a timely matter will help to avoid frustrations and having your questions answered quickly shows the level of professionalism and care.
<a href="http://www.madhomesutah.com/blog/7-things-to-consider-when-choosing-a-realtor.html" target="_blank"><img src="/userFiles/840/image/blog/best_posts/how-to-choose-the-best-realtor.png" alt="How to choose a REALTOR" width="650" height="178" /></a>
<img style="float: left;" src="/userFiles/840/image/blog/best_posts/dustin.png" alt="" width="150" height="150" />How to Face Home Buying Fears<a href="https://twitter.com/DBrohmRealtor" target="_blank"><img style="float: right; padding: 1px;" src="/userFiles/840/image/blog/best_posts/twitter.png" alt="" width="40" height="40" /></a><a href="https://plus.google.com/+DustinBrohmSaltLakesFavoriteRealtorSaltLakeCity/posts" target="_blank"><img style="float: right; padding: 1px;" src="/userFiles/840/image/blog/best_posts/googleplus.png" alt="" width="40" height="40" /></a><a href="https://www.facebook.com/DustinBrohmRealtor/" target="_blank"><img style="float: right; padding: 1px;" src="/userFiles/840/image/blog/best_posts/facebook.png" alt="" width="40" height="40" /></a>
Dustin Brohm located in Salt Lake City, UT is one of most passionate person about real estate whom I’d met before. His clients are happy to have him on his side as he brings a high level of knowledge and work ethic to his game that is difficult to match.
It’s not uncommon for home buyers to be concerned about making one of their lives biggest decisions. Buying a home comes with many responsibilities and while it’s very easy to sign a purchase agreement it could have life impacting effects of a poorly made decision.
There are probably dozens of questions going through a buyer’s mind while shopping for a new home. Some of them have to do with weather the property is going to cause them a lot headaches if many things turn out to be wrong with it.
We’d all seen those TV shows where it took the buyer tens of thousands of dollars to fix a poorly constructed home. This a valid concern for any home buyer and it should be addressed head on at the first opportunity. There are other questions that Dustin point out and provides answers of how to deal with them in his article about <a href="http://searchsaltlake.com/real-estate-blog/home-buying-fears-and-how-to-face-them/" target="_blank">“Home Buying Fears and How to Face Them</a>”.
<img style="float: left;" src="/userFiles/840/image/blog/best_posts/Joe-01.png" alt="" width="150" height="150" />Final Thoughts<a href="https://twitter.com/joesamson" target="_blank"><img style="float: right; padding: 1px;" src="/userFiles/840/image/blog/best_posts/twitter.png" alt="" width="40" height="40" /></a><a href="https://plus.google.com/+Greatcalgaryrealestate" target="_blank"><img style="float: right; padding: 1px;" src="/userFiles/840/image/blog/best_posts/googleplus.png" alt="" width="40" height="40" /></a><a href="https://www.facebook.com/JoeSamsonRealEstate" target="_blank"><img style="float: right; padding: 1px;" src="/userFiles/840/image/blog/best_posts/facebook.png" alt="" width="40" height="40" /></a>
Real estate is constantly being changed by great people who put their heart and soul into finding ways to make things better. Becoming good at something takes a lot of time and effort for everyone to elevate their game to the level where they can be recognized as professionals and leaders.
Understanding online marketing and testing the limits of technology plays a huge part of the success that creates these great contents. These articles above have sweat and maybe even tears in them. Thank you to all my friends who have written these fantastic articles.
The posts mentioned here are only the tip of the iceberg. If you are looking for more quality blogs and posts, be sure to visit their websites and follow them on social media. The wisdom and understanding that you will gain from them is by far going to outweigh anything that you have seen before!
<img style="display: block; margin-left: auto; margin-right: auto;" src="/userFiles/840/image/blog/best_posts/round-up-social-image-01.png" alt="Best Real Estate Blog Posts" width="650" height="340" />2016-06-22T14:37:00-07:002019-01-17T10:28:47-07:00Joe Samsontag:joesamson.com,2012-09-20:3603Sizzling Situations Between Real Estate Agents and Clients<img style="float: right; padding: 10px;" src="/userFiles/840/image/blog/sizzling_moments_between_real_estate_agent_and_client.png" alt="Sizzling Situations between real estate agent and client" width="450" height="513" />When it comes to buying or selling a home - regardless if you are looking for a home in a large city or in a small town, a real estate agent is one of the most useful tools to have. Their experience and insider knowledge can make both buying and selling easier and can lend to their client making a more educated decision. But how is the experience for the agent compared to the experience of the client?
Sometimes the reality is that clients and agents don’t see the same situation in the same light because of not communicated expectations. Lack of experience or too much professional experience can easily skew a person’s view, and without proper communication, this could cause a lot of issues.
And while some clients and real estate agents can get past this, some end up hitting a brick wall and they decide to go their separate ways in search of something new. The goal of this post is to help to smooth out a few bumps on the road between REALTOR® and client by having a glimpse into each others' thinking.
Read on to get a better understanding of the other person's point of view and find out what it feels like to get inside the shoes of a real estate agent. The situations that are listed below are some of the most common between agents and their clients. If you’ve been in any, it might be surprising to learn just how different the other party had viewed the same situation.
The Buyer Who Shows Up Late
Buyer’s View: Not Worried. It’s okay being late because the agent can adjust their schedule.
Agent’s View: Upset. Agents are very schedule-oriented in order to make sure they always on-time at the property they’re going to view as the homeowner leaves the premises for the scheduled time. Unfortunately, if the buyer is later for their viewing, that could cause the agent to be late to their next property viewing.
Real estate agents usually show 5-8 homes at the same time and need to calculate in advance how much time a client is going to spend inside a house, how long it will take to go from one house to another, and estimate traffic time as well. All this needs to be precisely scheduled in advance and if a client is only 20 minutes late it will create a chain reaction and causing the preset appointments with the homeowners to be missed.
Compromise: The agent should let the client know how showings work so they know how important being on-time is. This is something that anyone can understand, they just might need to be told once so they know how important it is.
The Buyer Who Wants a Chauffeur
<img style="display: block; margin-left: auto; margin-right: auto;" src="/userFiles/840/image/blog/driver-01.jpg" alt="" width="725" height="375" />
Buyer’s View: Convenience. There are many buyers who think that because an agent drives around town throughout most of the day, they are willing to chauffeur them around as well. They’ll often ask them to pick them up, drop them off and even take other people to their desired location.
Agent’s View: Frustration. Most agents are glad to drive potential buyers to view homes, but asking any more than that is unreasonable. Clients should be seeking other means of transportation to get to the meeting place where they can begin the tour together. But clients shouldn't be requesting real estate agents to drive across town to pick them up.
Compromise: If a buyer is demanding to be chauffeured, then the agent should let them know their services do not extend beyond simple viewings that are within a certain mile radius. It’s good to get this out in the open so the buyer doesn’t expect too much.
The Buyer Who Wants to Look at Luxury Mansions They Can’t Afford
Buyer’s View: Fun. Who doesn’t like to look in a home that’s considerably out of their price range? It’s always fun to see how the other side lives, especially in a home that is truly jaw-dropping. A buyer could request that their agent takes them to homes that they’ll probably never be able to afford, but that’s okay because their afternoon is free and they want to day-dream.
Agent’s View: Frustration. Agents want to sell homes, not show homes just because someone wants to see the inside. By having to take an entire afternoon to show luxury homes to someone that won’t ultimately buy one, they are taking time away from their family or other important things that matter to him.
Unfortunately, the agent doesn’t always know whether or not a buyer is serious about a type of home, so it can be difficult to determine who is just dreaming of something greater.
Compromise: An open house can satisfy both parties because they don’t take any extra time out of the day for either party. The “buyer” can go see what it looks like and the agent can take in more viewers at once.
The Buyer Who Spends Hours at the First Viewing
<img style="float: right; padding: 10px;" src="/userFiles/840/image/blog/keep-calm.png" alt="" width="450" height="457" />Buyer’s View: Wants to Consider Details. When a buyer pays too close of attention to the details during the first viewing, they could end up spending way too much time there. Normally they don’t think of this as much of a problem since they cleared their schedule to do so.
Agent’s View: Overwhelmed. The initial viewing is the time when agents want their buyers to simply see the home to determine if they like it. It’s not the time when the client should be trying to determine if the door handle is the right colour or if the sink should be a different shape. Those things can be looked at more comprehensively down the road, like scheduling a second viewing before the buyer is ready to make an offer.
Compromise: The agent should discuss with the buyer what the initial viewing will be like before they actually go to it. This will help them set their expectations so they can get through the viewing without taking the entire day.
The Seller Who Won’t Show the Home
Seller’s View: Not Worried. If a seller isn’t really motivated to move quickly, they could put off showings when their agent requests them. They often have the mentality of: “couldn’t the potential buyer just come back at a better time? If they can’t, then they weren’t the right buyer anyway.”
Agent’s View: Frustration. Agents have to show homes on demand, or else they could very well miss out on a sale. Not everyone has an open schedule, and if the home can’t be showed when they are available, they could end up looking at and buying another property. When agents are in this situation it can be difficult to make the sale, and that could lead to a difficult relationship with the seller.
Compromise: The agent should explain to the buyer that every person that is rejected for viewing a home could have been THE buyer. They should also explain that the majority of people won’t come back to try and look at it a second time. The seller should make sure they keep an open schedule and that their home is always clean so showings aren’t stressful for them.
The Seller That Wants to Stick Around for Viewings
Seller’s View: Excitement. When sellers have either put a lot of work into their home or lived there a long time, they have a lot of pride and knowledge that they want to share. They might look at a viewing as an exciting way to tell the potential buyer all about the place, with tidbits of information about every single aspect of the structure. And while some of this information might be really important to the seller, not all of it will be.
Agent’s View: Stress. When an agent is told that the <a href="http://www.maxrealestateexposure.com/accompanied-real-estate-showings-do-not-sell-homes/" target="_blank">seller wants to stick around it could jeopardize the sale</a> as they don’t have the same feeling of enthusiasm that the buyer does. Instead, they can feel distressed, because this adds a new uncomfortable element to the appointment. Due to their experience, they know that most owners tend to talk too much, and they don’t talk in a way that leads to a sale. This can disrupt the flow of things and mean seeing a perfectly viable buyer walk away.
Compromise: If the seller insists on being around, then the agent should make it clear that they are leading the viewing. Of course, the buyer can chime in with facts about the water heater or recent kitchen remodel, but other than that they should just be a bystander. If the seller really wants to sell the home, then they should understand and agree to this.
The Client That Wants an Open House Every Weekend
Client’s View: Excitement. The more <a href="https://www.joesamson.com/calgary-open-houses/" title="view OPEN HOUSES in Calgary">open houses</a>, the better. Most people selling their home think that it should be open every weekend, especially if they want to expose it as much as possible.
Agent’s View: Knowing Better. Any experienced real estate agent can tell you that an open house every weekend generally isn't the most effective way of selling a home. Now that the internet is so prominent, most people want to view pictures and open houses online before they schedule an appointment to see a property they like.
People looking at selling their homes need to understand that they may not be the agent’s only clients. Most of the time a REALTOR® juggles his calendar to satisfy all of his clients.
Compromise: An agent can talk with their client to let them know the best course of action for selling their home. A good compromise is to have one open house and then to focus the rest of the attention on pictures and online tours.
Uncle Johnny Knows it All
Buyer’s View: Already educated at home buying. Many buyers, whether because they have a family in real estate or read articles online, think they know everything there is to know about <a href="http://www.rochesterrealestateblog.com/real-estate-pricing-mistakes-that-sellers-need-to-avoid/" target="_blank">pricing out your house</a>. Because of that they might suggest that a home really isn’t worth what it’s being sold for, and neglect any facts the agent gives. They already know what they need to know, so why would they listen to someone else?
Agent’s View: Annoyed. Real estate agents go through a lot of training and real-life experience to do the work that they do. This is why it can be so annoying to have a buyer come in who thinks they know it all. Any good agent will take the time to explain to them how market value works, and hope that the information they give will get through to the buyer.
Compromise: Agents can use fact sheets and data from reputable resources to back up the information they give a buyer.
The Seller That Won’t Take Staging Advice
Seller’s View: Relaxed. Some sellers love their homes, and figure that the right buyer will love it too, no matter what it looks like and <a href="https://www.joesamson.com/blog/get-rid-of-it-before-selling-your-home/" title="Read: Get Rid of it... Before Selling Your Home">staging a home </a>is unnecessary. Therefore they won’t listen to their agent about cleaning it up or even doing a few things to stage it to look nicer.
Agent’s View: Pressured. Agents can only do so much to make a home look nice, and the rest is up to the seller. If the seller isn’t willing to work with them, then they will face even more pressure when trying to sell to a potential buyer.
Compromise: Some agents will offer to make certain changes themselves, and then explain why they are so beneficial. If a client really wants to sell, then they’ll listen to them and do anything necessary to get the right buyer to see the true beauty in the home.
The Home That Has an Unpleasant Odour
Seller’s View: Unaware. “What do you mean my home smells bad; I think it smells just fine.” There might be cat litter boxes out in the open or garbage cans without lids, but these don’t seem to bother them, so it shouldn’t bother anyone else.
Agent’s View: More Work. Real estate agents put great emphasis on homes looking nice and smelling nice so potential buyers can have a pleasant experience when walking through them.
Unfortunately, if the seller becomes “nose blind” to smells from broken sewer pipes or litter boxes, this can hinder the chances of a home being sold. REALTORS® can do a great job in <a href="http://www.greatcoloradohomes.com/blog/looking-at-homes-online-versus-in-person.html" target="_blank">marketing homes online</a>, but when the buyer shows up the truth will be revealed to them.
Compromise: If you’re going to sell a home, then do a thorough cleaning at the start and continuously keep it clean. Invest in air fresheners as well, they are worth it. If you’re the agent, then walk through the home before bringing a client there, and ask the homeowner if you can bring air fresheners.
Approaching Real Estate in the Future
How will you approach real estate after reading about the different perspectives that the client and agent can have? By understanding how the other person sees things, you may have a better overall experience with the person you’re working with. This can lead to mutual respect and have a smooth transaction from start to finish.2016-06-13T15:06:00-07:002019-01-17T10:50:00-07:00Joe Samsontag:joesamson.com,2012-09-20:3604Over the Top Customer Services Stories by REALTORS®<img style="display: block; margin-left: auto; margin-right: auto;" src="/userFiles/840/image/blog/over_the_top/Over-the-top-realtor-service-.jpg" alt="Top Customer Service" width="1200" height="667" />
Being chased by an 80lbs dog, jumping 6 foot high fences or being yelled at by a naked person in a shower while showing houses are common stories that many seasoned real estate agents probably experienced at one point in their career.
No doubt, all successful real estate agents often go far out of their ways to look out for their clients best interest. The most common example is working long hours, getting stuck in major traffic and sacrificing personal family times to accommodate the client’s work schedules. Interestingly this is just the tip of the iceberg as most of the things that we do to help our well-respected clients almost never gets mentioned or recognized.
Believe it or not, there are some really crazy things that some of the top real estate agents had done to help their clients. Read on to get a glimpse of the unexpected situation that could be easily taken from a best seller story.
<img style="float: right;" src="/userFiles/840/image/blog/over_the_top/Wayne_Munden.png" alt="Wayne Munden" width="100" height="100" />Outstanding Professionalism & Some Lemonade
Wayne Munden - <a href="http://www.waynemunden.com" target="_blank">Top REALTOR® in Burlington, ON</a>
I had a wonderful OFFER last night that earned my selling clients $150,000 over list price on their original family home. It was a pleasure to work with 6 professional TORONTO Agents. Each one of them brought a unique integrity to the negotiation table.
I felt bad for all who didn't get the deal, and many of them left sad, I felt really bad because I can tell by the look on their face that the last few months have been a struggle to get a deal done. Wish I had 5 more of these houses. Oh, and one Agent rode his bike to the Home.
BTW...one of the Agents who was in our MULTIPLE OFFERS last night knew it was going to be a long night. He walked over to College Street and bought all Agents, who brought OFFERS in, and Sellers, a Fresh Squeezed LEMONADE, for us all, including competing agents. Brilliant. It is why I respect all REAL ESTATE Brands and REAL ESTATE Professionals. We have to learn how to work together for the betterment of our clients & the industry. Maybe that is the magic pill. Think about it. (Toronto Agents are really cool)
The Hero is not the Listing Agent in the city of Toronto, the Hero is the Buyer Agent. Our role is to simply direct traffic.
<img style="float: right;" src="/userFiles/840/image/blog/over_the_top/Andrew_Fortune.png" alt="Andrew Fortune" width="100" height="100" />A Flat Tire and Getting Stuck in Snow Won’t Stop an Offer
Andrew Fortune - <a href="http://www.greatcoloradohomes.com" target="_blank">Top REALTOR® in Colorado Springs, CO</a>
I had some buyers that I met at a property for the first time this past winter in January. I work in Colorado Springs and for the most part, there are not many deep mountain properties that get snowed in. We do have a few neighbourhoods that are very mountainous though. Here’s a video I made driving down from one of those neighbourhoods recently: <a href="https://www.youtube.com/watch?v=BMI8z3O32LA&feature=youtu.be">click here</a>
After watching the video, you can imagine that it gets interesting in a snowstorm. This particular client wanted to meet me at a property that is located up near the neighbourhood in the video. I told him to make sure that he had good snow tires and all-wheel/4-wheel drive as we just had 2 feet of snow up there. I headed up to meet him and brought along a new agent that I was training.
My buyers show up in a 1980’s Honda Civic with bald road tires (not snow worthy). He drove (or slid) right past the driveway and then got stuck on the road in front of the house. This property was the first house on a single lane road with no outlet but 11 homes behind it, so we were in a bad spot.
My new agent and I tried to push the car, but then realized that it also had a flat tire! It was a disaster. Of course, this was all happening in the evening when people come home from work, so there ended up being a line of people parked behind us trying to help them get out. Eventually, we got the tire replaced and pulled them out with no damage to the car. It was a crazy day.
There is so much more to the story than this, but the funny part was that the first thing these buyers said when we were finally past the drama was “So, what do we need to do to make an offer?” Apparently, my expression showed my shock because they started laughing as soon as they saw my reaction. I said, “Really, after all that?”. Once I collected myself we put in an offer, but they ended up buying a different home in the mountains a couple months later.
Incredibly, at our <a href="https://www.joesamson.com/blog/the-purpose-of-a-final-walkthrough-in-real-estate/" title="Read: The Purpose of a Final Walkthrough in Real Estate">walkthrough</a> right before closing, my buyer (who had driven once more without good tires) got stuck in the snow again. It took an hour to dig him out. It just goes to show that no matter how bad your showing experience is if the clients want the home they really don’t care about anything else!
<img style="float: right;" src="/userFiles/840/image/blog/over_the_top/Bruce_Firestone.png" alt="Bruce Firestone" width="100" height="100" />Elderly Couple Doubles Their Assets by Smart REALTOR®’s Advice
Bruce Firestone - <a href="http://www.brucemfirestone.com" target="_blank">Top REALTOR® in Ottawa, ON</a><br />Photos: http://profbruce.tumblr.com/post/118954634839/realtor-hero
Elderly clients of mine came to see me last year. They were living on a large rural property, quite isolated from everything—neighbors, services, shopping, jobs, friends, family, you name it. That was OK when they were younger, but not so much now, especially since the husband was suffering terribly from a combination of illnesses. They asked me to sell their property, and to help them find a visitable home nearer to the city centre as well as to hospitals and other services.
To maximize value for them, I led a team of lawyers/planners/surveyors that successfully severed their lands into two parcels—one 10-acre piece with their home on it, and one 60-acre piece of vacant land. The former was sold to a nice couple in their 30s, and the latter was sold to a developer…
We probably doubled the value they were ultimately able to obtain from their holdings via this strategy since a developer places little or no value on a house and a young couple doesn’t have the wherewithal or interest in holding onto development land or immersing themselves in byzantine procedures that pass these days for the approvals process in most jurisdictions to make lands usable for purposes other than growing weeds.
But then the story gets interesting. How many bungalows do you think we looked at to find one that was suitable for elders? 22, and really none of them were. The one my clients finally decided to purchase (out of sheer desperation) required significant renovations to a) create a 0-step entry and b) a bathroom accessible to someone using a walker.
This brought to my attention how badly served elders are in our society, and how, with just a little more aforethought, we could build <a href="https://www.joesamson.com/calgary-new-homes/" title="Search New Construction Homes in Calgary">new homes</a> that serve all age groups better, including seniors.
And homes with roll-in showers, 0-step entries and accessible bathrooms with grab bars don’t have to be stigmatized by ugly design either or, for that matter, excessive costs. I mean a 0-step entry works not only for seniors but a woman (or man) with a baby carriage too.
<img style="float: right;" src="/userFiles/840/image/blog/over_the_top/David_Welch.png" alt="David Welch" width="100" height="100" />A Bit of Night Mowing to Complete the Sale
David Welch - <a href="http://www.davidwelch.com" target="_blank">Top REALTOR® in Orlando, FL</a>
If you know Orlando, you know that there are tons of landscape maintenance companies. If you're a real estate agent in Orlando, you know you can't get any of them to mow a yard to clean it up for showing or closing. I had a property listed for an out of state owner and was fortunate enough to find the buyer as well.
The prior tenant had skipped out on the owner, and the yard was about a foot high, so the buyer had asked specifically in the contract for the seller to have the yard mowed prior to closing. She agreed to have it done, then asked me to find someone to do it.
The property was not located in the safest area of town, and I could not get anyone over there. It was a cash deal and closed very quickly, so I did not have much time. I was also really busy, so the night before the closing my wife and I went over at about 9:00 pm. I had her stay in my Tahoe aiming the lights on the yard, while I mowed as quickly as I could. She moved the truck around to keep the lights on in the area I was mowing. I got it done, and we closed the next morning.
<img style="float: right;" src="/userFiles/840/image/blog/over_the_top/Jean_Richer.png" alt="Jean Richer " width="100" height="100" />The Cop is Naked... Run!!!
Jean Richer - <a href="http://jeanricher.com" target="_blank">Top REALTOR® in Ottawa, ON</a>
A quick story about feature sheets. I had a client who was a 6'4" policeman and I was selling his house. On a Friday afternoon, I called him and asked if I could drop off some feature sheets at his house. He said no problem if I am not there just come in, drop them off and we are good to go! I show up at his house, ring the bell as usual and wait a minute or so. No answer so I open the door with the lockbox, go to the kitchen and smell his pizza in the oven.
I figured he went to the corner store to get a beer or something like that. No worries it's all good. I had to go look in his master bedroom as he had done some fixing up and wanted me to check it out, so I went upstairs. As I get into his master bedroom I hear the shower going and right away I am thinking " There is a 6'4" naked policeman behind that door with a gun. I'm a dead man!! ".
I quietly go back downstairs, lock the door and leave as fast as I can. I get a call from the client a few minutes later to see if I had been in his home. I told him yes and that I had dropped off the feature sheets. He just wanted to confirm it was me. I wished him a good weekend and kept on going! That was a close one!!
<img style="float: right;" src="/userFiles/840/image/blog/over_the_top/Ryan_FitzGerald.png" alt="Ryan FitzGerald" width="100" height="100" />Arachnophobia at a Client's House
Ryan FitzGerald - <a href="http://www.raleighrealtyhomes.com/cary.php" target="_blank">Top REALTOR® in Cary, NC</a>
I have a story about a client who lived in Seattle and was selling his home here in Raleigh. In order to sell his house, I went to the home and discovered that the water was not working. Turns out that the seller didn't have water. They called the city of Raleigh to turn the water back on and the city told him there is a valve under the house in the crawl space that he needs to turn.
The seller called me and asked if I could turn the valve for him to get the water back on. I obliged and drove to the property to turn the water on so we can get his home listed and sold only to find out the crawl space is loaded with spiders! I HATE SPIDERS! It took me a good five minutes to work up the courage to crawl underneath the house and when I found the valve I turned it and crawled back out covered in webs. Then we listed and sold the home!!
<img style="float: right;" src="/userFiles/840/image/blog/over_the_top/Joe_Samson.png" alt="Joe Samson" width="100" height="100" />Drawing Blood to Show a Property
Joe Samson - <a href="https://www.joesamson.com/">Top REALTOR® in Calgary, AB</a>
It was a weekday on a late October evening when the first snow started to appear in Calgary. My clients had called me about wanting to see a listing on the other side of the city which was about 45 minutes away plus the time stuck in rush hour.
As it happens to most of us, I was running a little bit behind with my things to do and I was in a hurry to leave the office to get to the property on time. After making my way through in a major traffic jam, I finally pulled up to the house and the timing was just perfect as my clients had arrived right behind me.
One last check in the mirror before I get out of my car, fixed my tie, and off I went to greet the client and take him inside the house. Then all of a sudden I froze in my steps and forget to breathe for a few long seconds. I started doing my Macarena dance looking for my REALTOR® access key. And I said: “Noooooooo…!” I left it in the office.
Driving back and getting it was not an option. Especially on a snowy evening while all the drivers seemed to forget how to drive on a slippery road even though when Calgary could see snow on the ground between October to May.
I knew that I had to come up with a solution very quickly. So I figured that I could try climbing in the basement window and open the door from the inside. Luckily I knew the client really well and I was pretty sure that he wouldn’t mind me doing this to sell his house.
<br />I still had my suit on and crossed my fingers and I was hoping that nobody is going to call the cops thinking that I am a burglar. So I prepared myself for the “breaking & entering” manoeuvre. Asked my client to hang on to my winter coat and suit. I carefully rolled up my white shirt’s sleeve and tossed my silk tie behind my neck so that it won't be in the way.
All of a sudden I felt the MacGyver power coming on to me and with full confidence, I carefully put both of my hands on the single pane glass and started to apply a bit of pressure to be able to slide it sideways. BANG!!! Both of my hands just went through the window and the glass was shattered into pieces. And I noticed that I was dripping blood all over my shirt.
I ran to the front door and let the client in to view the home. While they were checking out the vacant property, I excused myself and cleaned up my wound a little bit. The more interesting part of the entire event was that I choose not to go to the ER at 8:00 p.m. as I was very tired. Instead, I went straight home and stitched it up all myself.
Do You Have a Story to Tell?
Do you have an interesting story to share about working with your clients? I know that there are lots of great stories out there to tell. If you got something funny, heroic or have an awesome example from the past of an outstanding service that you had provided, then please send it to me or share it in the comments below. Contact me today as I am planning on expending this blog post with YOUR story!2016-05-25T15:11:00-07:002018-02-19T16:42:32-07:00Joe Samsontag:joesamson.com,2012-09-20:3605Playgrounds in SW Calgary to Check Out This Summer<img style="display: block; margin-left: auto; margin-right: auto;" src="/userFiles/840/image/blog/Calgary-Playgrounds.jpg" alt="Playgrounds in SW Calgary" width="1200" height="711" />
The beautiful weather of the summer is upon us, and that means it’s time to get outside and get active with your family! There are a lot of things you can go do, but what’s better than a good old-fashioned day at the park? Kids can have fun while playing and parents will be able to enjoy being outdoors. <a href="https://www.joesamson.com/calgary-south/" title="Search Homes for Sale in SOUTH Calgary.">Southwest Calgary</a>, in particular, has some of the most beautiful parks to check out, so if you’re interested in visiting other neighbourhoods to see what they have, then try out those listed below:
Treehouse Playground at Christie Park
Located in <a href="https://www.joesamson.com/calgary-west/christie-park/" title="View Homes in Christie Park">Christie Park</a>, this playground is perfect if you have little ones that are toddlers or in 1st or 2nd grade. It has a beautiful new play gym, equipped with a slide and fun rock climbing wall.
Park at Elboya Park
This is a great park to take kids that are young and a little bit older. <a href="https://www.joesamson.com/calgary-city-centre/elbow-park/" title="View Homes in Elbow Park">Elbow Park</a> has a beautiful, brightly coloured gym that's equipped with a lot of climbing areas, slides and a lot more. You'll also find that there is a lot of grass around this, so it's the perfect place to fly a kite, play soccer or do any other outdoor activity.
Playground at Mayfair
Surrounded by large trees, this is a location where a lot of people spend afternoons watching their kids play in <a href="https://www.joesamson.com/calgary-city-centre/mayfair/" title="View Homes in Mayfair">Mayfair</a>. The gym is decorated with bright colours and has everything younger kids need to get all of their energy out.
Our Lady of the Evergreens School Playground
Located in <a href="https://www.joesamson.com/calgary-south/evergreen/" title="View Homes in Evergreen">Evergreen</a>, kids ages 5-12 will love playing here. This massive park is surrounded by grass as far as the eye can see, and has some of the most impressive fitness possibilities around. Kids can slide, climb, spin, build and do a lot of other fun activities while they are here. It's one of the favourites of community members because it's so big it offers something for every child.
Calgary Science School Playground in Lakeview
Located at 34th St and 58th Avenue SW, this is a great spot because it's not packed full of gravel like other playgrounds are. There’s a fun structure with a rope that kids can climb on, along with ramps to run on, a merry-go-round, swings and more. It's also surrounded by a lot of grass, so you can have a picnic or enjoy playing sports outside of the pavement area.
Kelvin Grove Playground
Located at 73 ave and Kerfood Cres SW in <a href="https://www.joesamson.com/calgary-south/kelvin-grove/" title="Kelvin Grove">Kelvin Grove</a>, this is a really big park that has something for kids of ALL ages! There are a lot of swings, a bridge, tic-tac-toe, slides, stairs and so much more. What's even better is that this is right on another playground, so there are lots of options for kids.
Which of these playgrounds will you go and see with your kids this summer? It’s a great time to visit them all and see how other communities have worked hard to make their outdoor areas more appealing to families!2016-05-24T15:20:00-07:002018-03-12T15:20:11-07:00Joe Samsontag:joesamson.com,2012-09-20:36063D Property Tour is the NEW Cool in Real Estate<img style="display: block; margin-left: auto; margin-right: auto;" src="/userFiles/840/image/blog/3D_Property_Tour-01.png" alt="3D Property Tours by Matterport" width="1200" height="587" />
Have you used Google Street View? Imagine that inside of a home! That’s exactly what 3D tours are like, and that’s why they are so attractive to both buyers and sellers. With just one click a 360-degree view of the home is offered, and that means knowing exactly what the home will look like in person. Users can even click out of the entire home to look at the layout, and then click back into any room they’d like to visit.
Online listings have become integral parts of the home buying and selling process, with over 90% of buyers searching online before anywhere else. But, the chances of selling a home are only as good as the actual property presented.
Buyers want to see high-resolution pictures so they can get an accurate feel for what the rooms look like. But, as technology progresses, do potential home buyers want more?
While some real estate agents will argue well-taken pictures are more than enough, others are adapting to the demand for videos to be present on listings. That’s why virtual tours are so common today and can cut the time a home stands on the market in half.
However, while the basic 360 degree home tours were incredibly useful for online home listings, they are no longer the most technologically advanced tools sellers have. 3D property tours mad possible by <a href="http://matterport.com/">Matterport</a> are now being used by an increasing number of agents, as this totally immerses the viewer in the home--without them ever having to leave their own.
With 9 out of every 10 home buyers searching online for their next home, the internet is a more powerful tool than ever. And according to Google, searches related to real estate have increased over 250% in the last four years. Making your listing stand out is crucial to gaining attention, and the new 3D tour may be just the way to make that happen.
See How it Works
Why 3D Tours?
Everyday video tours presented by sellers are useful, but their main drawback is that they don’t show the home from every angle like you would in person. With 3D tours, that’s no longer an issue. The viewer can use their mouse to click everything in the home, from the ceiling in the guest bedroom to the floor on top of the stairs.
When people are looking at homes online, they want to see what everything from the basement to the backyard looks like. If they aren’t able to see what they want, they are much less likely to actually see the home in person. This can mean the listing standing around longer, even if it’s a great property with a lot to offer.
3D tours offer a way for potential buyers to see homes just like they would in person--all from the comfort of home. With this, they’ll be much more likely to make an appointment to see a place in person and potentially purchase it.
What’s the Purpose?
The purpose of 3D home tours is to intrigue potential home buyers to purchase a home! It gives them a more in-depth view of the layout of the property and fully immerses them into space. A lot can be missed with basic pictures, but with a 3D tour, the potential buyer will see everything so they can determine if they want to see a property in person.
Making Listings Fun
The innovation of 3D technology for home tours is new, but agents are quickly picking it up because of the potential benefits. When potential buyers are browsing through homes, they are much more likely to click on a home with this tour, rather than one that has basic pictures or no pictures at all.
These types of tours are simply a lot of fun, and because they can be so effective, they are well worth the time and investment. What better way to make your listing stand out? Of course, your description says a lot, but this type of tour brings an entirely new element.
Sharing More Information
The reality is that there's only so much information that can be shared through pictures and a fact sheet. This is true, and a big reason why it’s so important to adapt to the new method of doing tours. It allows you to share a lot more information and answer questions that you might not know clients even have.
Do you want to show people the layout without having to dig through blueprints? Or show how big your master bedroom is without taking hundreds of pictures to find the right angle? You can with 3D tours because they scan the home exactly how someone would see it in person.
Creating a Tour
Creating a 3D walkthrough is something that requires 3D scanning technology. Once the home has been cleaned and <a href="https://www.joesamson.com/blog/get-rid-of-it-before-selling-your-home/" title="Read: Get Rid of it... Before Selling Your Home">staged</a>, the first scan of every room in the home is done. Generally, the tour will be done in the same way a tour would be done in person. This ensures the view is exactly what the buyer would have, and they get the best idea of what the home looks like in person.
Once the scan has completed and uploaded, the video can be viewed by any potential home buyer that wants to see the property!
Attracting More Buyers
When a regular listing is put online through any real estate website, it’s visible to anyone who is searching for homes in that area. But, what really determines if they’re going to click on that listing? More people are willing to look at a home if they know there’s a 3D view of it available, especially if they live out of the area.
What if buyers want to see what the downstairs looks like from the top floor? They can view this with the 3D tour. What if they want to see how many steps they can take in the master bedroom? With a 3D tour, they will be able to do this more easily because of the 360-degree views they’ll have.
All you need is one buyer to sell a home, and with technology like this on your side, you’ll be much more likely to sell. More buyers will look at the home as a result of the tour, and that additional exposure is never a bad thing.
Even international buyers (maybe someone looking for a vacation home) will feel like they are physically present in the home when they view this type of tour. The benefit is: buyers near and far will see what the property looks like in person, and won't have to be physically present to do so.
What About Privacy?
Some sellers become concerned with their privacy when these types of tours come into consideration, but what they don't realize is that these can actually help cut down on the number of people who physically visit the home.
Because buyers will get such a good idea of what the place looks like through the virtual tour, they'll know whether or not they really want to see it in person. This attracts a lot more serious buyers and can mean greater privacy due to fewer open houses and general foot traffic.
Pre-Qualifying Homes
While it’s important for homeowners to be pre-qualified, it’s also important for them to pre-qualify homes that they see in person. After all, seeing ten different homes every weekend can get overwhelming, and it can lead to a lot of disappointment.
When 3D tours are presented on a listing page, it helps the buyer qualify that home before they ever see it in person. If they really do like what they see on the tour, then they are going to know they’ll like it in person. This can reduce the amount of disappointment for both parties and lead to a much easier sales process.
Wouldn’t you like to see buyers come through that already knew they loved your home? This could potentially lead to a quicker sale and less time sitting on the market.
Reducing Questions
Buyers have a lot of questions when they are considering homes, even after they’ve seen a home in real life. They often have questions about what they saw, like whether or not there was a big closet in the guest room. And while sometimes pictures can answer these questions, they can’t answer them all.
3D tours offer a more realistic view that can answer questions without the buyer ever having to see the home in person a second or third time. They’ll know exactly what they need to know to determine if it’s a home they really want to consider purchasing.
Eliminating Scheduling Conflicts
Sometimes it's difficult to view a home several times before finally putting down an offer, especially with busy schedules. With 3D tours, that's no longer an issue. The potential buyers will be able to enjoy a walk-through of the home 24 hours a day and 7 days a week. All they have to do is log on and watch the video and they'll have all the information they need.
This can really help get rid of the obstacles that face buyers with scheduling today and mean being able to review information they need to purchase the home immediately.
Increasing Views
Because 3D tours are so new, they are all the buzz. If one home in a neighbourhood has this but all the others do not, it’s likely to get a lot more views. And in addition to people simply browsing and finding these, more will be likely to share them with friends and family. “Hey I know you’re looking for a house, look at this cool video of one in your neighbourhood!” is something that could very well happen.
As more people see your 3D tour, your chances of selling in a short amount of time increase. Unique listings are the way to sell, and this is just about as unique as it gets in today’s technological world!
Other Applications
While 3D tours are most useful for selling a home, they can also be used for rent. Potential renters want to look at as many places as possible before they rent a place out, and due to the fact that property managers can be busy with other things, it can take a while to see all places. However, with these tours, that problem is eliminated.
The renters will be able to get an in-person view of the entire home or apartment without even having to check out keys. They’ll then be able to narrow down the places that they like and really want to see in person, all within less time.
And rental tours aren’t just for large apartment complexes; they can also be used for income properties that everyday people own. Wouldn’t it be nice to find a renter more quickly and without having to show the property on a daily basis? With virtual tours this may be possible, offering a lot of convenience for all parties involved.
Open House Online
<a href="https://www.joesamson.com/calgary-open-houses/" title="view OPEN HOUSES in Calgary">Open houses</a> are important for selling homes, but it can get exhausting having them every other weekend or more frequently than that. With a 3D tour, you can have your open house online every day! This way when you do have an open house in person, you’ll be able to make the experience even better, with special touches like treats to eat or a nice fragrance in the air.
The combination of an open house online and in person may be just what you need to effectively <a href="https://www.joesamson.com/sellers/" title="Sell Your Home">sell your home</a>. You’ll certainly get more exposure and won’t have to spend as much time keeping your home open house ready.
Looking to the Future
3D home tours aren’t as easy to put together as typical 2D pictures, but they are worth the extra effort. In the next months and years, they are sure to be the go-to videos that sellers use for their listings, especially as the technology progresses. If you’re looking to integrate more technology to make your home easier to find, is this something you’ll use?
3D Property Tour Service Providers in Calgary
3D Scan Experts - <a href="http://www.3dscanexperts.com/" target="_blank">http://www.3dscanexperts.com</a>
2016-05-07T15:24:00-07:002018-02-19T16:49:32-07:00Joe Samsontag:joesamson.com,2012-09-20:3607The Ultimate Guide to an Open House that Sells!<img style="display: block; margin-left: auto; margin-right: auto;" src="/userFiles/840/image/blog/guide-to-doing-open-houses.jpg" alt="Guide to a successful open house" width="1200" height="800" />
Holding open houses has been one of the most powerful tools that anyone can use to sell homes. But as online research has become more prevalent with buyers, the debate of whether or not open houses are still used today has been more heated than ever. Are buyers only searching <a href="https://www.joesamson.com/calgary-open-houses/" title="view OPEN HOUSES in Calgary">online open houses</a>, or are they getting out there and actually taking advantage of open houses?
Some experts dismiss the open house, saying it’s an outdated custom that’s carried on mainly to placate home sellers. Other real estate pros remain devoted to the method. Their track records show that open houses can, and often do, get the property sold.
But, what do the numbers say? The National Association of Realtors (NAR) regularly surveys people on their reliance on open houses. In 2014 about 44 percent of buyers used an open house as a source of their home search process. <a href="http://www.realtor.org/topics/realtor-open-house-events/media-hooks-for-realtor-open-houses">The survey</a> also revealed that seasoned home buyers are more likely to visit open houses than first-time home buyers. Interestingly 51 percent of buyers between the ages of 45 and 54 enjoy searching for their new home via an open house, while only 23 percent of the younger generation favours going to open houses.
For the agent, an open house is not an easy task. It is actually a full day of work, costing them about 12 hours of time or more. Of course, the actual open house might only last a few hours, but in order for that to happen they have to: market online, create information packets for walk-ins, make sure the home is ready to show and actually host the event.
<br />WHY OPEN HOUSES?
Interested buyers are coming to you, which means all you have to do is open the door for them. You can get that important face-to-face time with people that allow you to instantly build rapport. It’s not like trying to e-mail somebody, using social media to get a hold of them or trying to use a flyer. You can see the buyer in person so you can immediately assess their need, talk to them, get to know them and start connecting with them much more quickly.
What is the Goal of an Open House?
The first and foremost goal of an open house is to sell the property! The way you prepare the home will affect how it shows when people are walking through it and can mean someone making the decision to buy right away. Basically, an open house creates a buying atmosphere.
The second goal of an open house is for the buyer to have a sort of “speed date” with the real estate agent who is hosting. During their time they will have the opportunity to ask the REALTOR® any questions they might have. This can help them decide whether or not they should hang their hat with the real estate agent that uncle Bob may have recommended who maybe only sells 3 houses a year.
ADVANCED PROMOTION
In order for an open house to be a success, marketing beforehand is crucial. A busy open house can lead to more sales opportunities, so getting guests in the door is extremely important.
You need to promote an open house at least a week in advance to let the people know that they can come through to see the house during the weekend. If you haven’t spent a great amount of time marketing your open house, getting people there will be much more difficult.
Local Newspaper or Real Estate Magazine
The first thing that you can do is to advertise in the local newspaper. Most local media newspapers have an open house section where buyers often go to make their plans.
Community Flyers
Knock on some doors and hand out some flyers to the neighbours. Let them know that the house down the street is going to be open this weekend so that they can come through. But make sure you answer the question: “What’s in it for me if I stop by?” They already live in the neighbourhood, so why would they be interested?
They might know somebody who is interested
They can get a good idea what their house might be worth
Pick a couple hundred homes around the targeted property and deliver postcard type flyers to let the entire community know what you are up to this weekend. You can hand deliver them in a couple of hours or use a postal delivery service where they can drop them off for you (there will be a fee for this).
Sign Toppers
Order sign toppers that state the day and the time when the open house is going to be held. Insert this banner on the top of the street sign early in the week so that all of the people who drive by the house can see.
Post Online
Every agent should embrace the power of the internet by marketing their open houses on the web, where buyers search the most! This will likely draw a lot more people in and result in getting your name out there as well.
One example of a site where you can post your open house times is Kijiji. However, no matter what site you use to advertise, do not forget to add the time of your open house in the first sentence of the description. A lot of real estate agents forget to take advantage of this opportunity when they have a listing on the MLS system. But be careful not to forget about your listings, because if they expire you might have disappointed buyers beating on doors when the sellers aren’t expecting anyone.
Your Own Website
Another fantastic idea is to post open house opportunities on your own website if you already have one. Many people have personal blogs these days, and surprisingly, there could be a large following paying attention to those personal stories.
Using blogs to create some hype about the upcoming event is a must. Quite often fifty percent of people who walk into an open house learn about them through online listings.
If you don’t have a website yet, one can be easily and quite affordably be created these days. Template designs will allow you to quickly customize the site and showcase the property to potential buyers.
Social Media Sites
<img style="float: right;" src="/userFiles/840/image/blog/social-media.png" alt="" width="170" height="138" />Some agents will spend hours curating content for their listing pages and websites, only to end up forgetting about the other marketing techniques they could be using. Take advantage of Evites, <a href="https://twitter.com/JoeSamson" target="_blank">Twitter</a>, <a href="https://www.facebook.com/JoeSamsonRealEstate" target="_blank">Facebook</a> and <a href="https://www.linkedin.com/in/joesamsonrealtor/" target="_blank">LinkedIn</a> to advertise the date and time of your open house! You might be surprised at how many people show up at the open house when you take advantage of social media. And if you have a virtual tour of the home that you can link to your posts, you may draw in even more people!
There’s nothing wrong with piggy-backing on your friends a little bit. However, be gentle with promoting your “selfish” needs on these channels, as it can really turn off some people if you overdo it. Don’t blast it out to everybody all week. Let them know what you are up to this weekend, but don’t shout it too many times. Just let people know that you are going to be there and that you’re going to have refreshments and great opportunities.
MATERIALS TO USE AT OPEN HOUSES
Feature Sheets
Make sure that a few days in advance you print some high-quality feature sheets that visitors can take with them. Don’t be afraid to order at least 20-30 feature sheets. If you don’t use them all, you can always use the leftovers next weekend. Whatever you do, don’t try to save money with printing costs, as you should be creating the impression that you care about quality. As a result, the buyers will be more likely to think that the house is high quality as well.
Articles & Information
Other things that you should share with buyers are community articles and information. I like to only bring one copy and tell people: “Hey, that is my display copy, but why don’t I send you the entire copy by e-mail so that you have the full information that you can read or share”. Some people may just want to quickly flip through them while others will really appreciate going out of your way trying to help them.
CMHC - Home Buying Guide
CMHC has some great tools such as <a href="https://www.cmhc-schl.gc.ca/">buying guides</a>, condominiums guides, house maintenance tips, etc., all of which you can order for free off of their website. Once you receive these you will be able to hand them out at open houses so you have your own information as well as other professional materials. This will get great information out to the public, and the bigger the packet they take home is, the better.
Area Statistics
Look around the area and keep your information specific; don’t generalize on how the entire city is performing. Shine a light on how many houses have sold in the area within the last 3-6 months. Also include how long they took to sell, how much buyers typically negotiated off of them and, if you really want to hit the ball out of the park, you may also want to prepare a map for visitors to see how their location compares to your open house.
Next, you will want to share some information about similar homes that are active in the community. If you can, try to visit them earlier in the week so that you can share with the buyers why that other house is priced so high. For example, its basement may not even be finished or some of the renovations may have been done to low standards. Give them all of the information that is extremely valuable for a buyer to know.
Information On Nearby Listings
If you want to show your expertise in a professional way, then research other listings in the same neighbourhood that are similar in price range and features. Visitors will appreciate this information, and other agents/buyers will be more likely to work with you because of this.
Signs, Signs and More Signs…
Since neighbours can be your greatest asset, the last and possibly most obvious material you’ll need for your open house is the sandwich board or signs with direction arrows pointing people to the front door.
Put signs on major roadways leading to your open house. Hopefully, your property isn’t located too far off the main road where it’s very hard to get to. If the house is quite the distance away from a major intersection, then be sure to place plenty of directional signs so that it can be found based on the breadcrumb signs that you have left there.
How many signs do you need? It’s really going to depend on where the open house is located at. Usually, 6 signs should be enough, but you can never overdo it. I like to place signs on both sides of the street so that they can be noticed from either direction.
Every property is different, so choose your signs on an individual basis. For example, if you’re looking to draw in customers for a <a href="https://www.joesamson.com/calgary-luxury-homes/" title="Search LUXURY HOMES for sale in Calgary">high-end property</a>, use specialty signs that look luxurious and professional. If you’re selling a home that’s a bargain, then appeal to deal-finding customers with a handwritten sign.
One of the biggest mistakes you can make is disregarding potential customers. Remember, not everyone who walks through the doors of an open home is looking to buy. However, one of those customers could end up falling in love with a property when they least expected it. They could also know someone looking for a home just like the one you’re selling.
Like any good agent, you should prepare yourself for neighbours stopping by. Don’t write them off as a waste of time though, because you never know if they’ll see it and love it, or know someone who will love it. If they tell you not to mind them because they’re the “nosy neighbour”, make sure you tell them you love those types of neighbours and they are more than welcome to look around.
Treat anyone who walks through the doors of an open home as a buyer or a potential ambassador to a buyer. This is why it’s so important for the REALTOR to market the property to anyone and everyone. Every person could possibly share their “great experience” at an open house, and all it takes is one of those people to buy!
Video Open House is the Future?
It’s no secret that home buyers look around at homes online before they buy, especially with all of the photos, <a href="https://www.joesamson.com/blog/3d-property-tours-calgary/" title="Read: 3D Property Tour is the NEW Cool in Real Estate">video open houses</a> and specific information that’s available. And while websites and other listings are used to advertise homes you have for sale, you shouldn’t shy away from open houses.
After all, how else would the buyer know how beautiful the sun shines in through the living room window? Or that the colours in the home are actually much richer than they appear in pictures? Virtual tours are great, but they are no substitute for standing in a home in real life. When a buyer experiences this they will start connecting feelings to the home, and that’s an important part of the buying process.
How are you using technology? What’s surprising is that many agents aren’t harnessing the true power of it. They aren’t taking advantage of the fact that virtual tours and videos can more easily get buyers interested in a home. That’s because they might see something in the video or tour that they didn’t see in pictures, which motivates them to attend the open house.
Video open houses probably won’t be replacing open houses anytime soon, but they may very well help attract buyers and get the home noticed by more people.
<br />UP THE EXPERIENCE
Once you get started with the open house, you need to get creative. Ask yourself if there is anything else that you can do to add to this experience?
Preparing the Home
Go outside and look at the home, does it need to be cleaned up? You might need to mow the lawn, plant or water the flowers, have the trees trimmed or sweep the porch off. It will be worth it to clean up the exterior so the home looks like it’s being kept up with. Curb appeal goes a long way with potential buyers.
Detail the Interior – The inside of the home should be extremely clean, with scrubbed floors, dusted shelves, cleaned up bedrooms and a grim-free kitchen. Make it look great!
Before you open the door, you want to give yourself some time to turn on all the lights and open the blinds to let natural light in the home. Don’t forget to also set up your own articles that you have brought with you to be displayed.
It’s also beneficial to clear random stuff off the countertop so it’s not in the way. You want to get the place set up so that you can be in the best position to show the house as beautiful as it can possibly look... You can call in a professional stager if you want it to be as close to perfect as possible, or you can just watch a lot of HGTV to get some great ideas on how to do it yourself.
Provide Beverages & Appetizers
Small appetizers (brownies, cookies) and refreshments will help make your open house more memorable than others. Want to attract more people? Then try to have a themed party! One top seller had a pool party complete with margaritas, and that brought a great amount of attention to the open house.
Some hosts will go as far as baking some cookies during the open house to get some friendly aroma throughout the house and to offer some warm cookies for those who can be tempted.
I also heard folks putting on scented candles or special scents to fill the house. But be careful with this as you don’t want to repel the buyers with a scent that’s too strong. You also don’t want them to think you’re trying to mask a bad smell.
If possible, you can also get some soft music going to make everyone comfortable so that they can naturally picture their own family living in the same house.
Disney Movie
It’s almost guaranteed that you will have families with kids coming through the doors. Imagine how grateful those parents would be if you are able to draw their kids like a magnet to a popular movie in the living room while they are able to view the home without any behavioural issues getting in the way.
Team Up With a Mortgage Broker
What if you had a buyer at the open house who was ready to sign the paperwork right there? If you let them walk away, they could re-think their decision in the hours after. By having a Mortgage Broker or a loan officer at the open house, they will be able to run credit reports and show you <a href="https://www.joesamson.com/blog/how-to-qualify-for-a-mortgage/" title="Read: How to Qualify for a Mortgage">how to get a mortgage</a> right then and there.
And if the buyers weren’t quite qualified to buy that particular home, the loan officer could use their credit analysis program to give them advice on how to prepare to buy in the future. This could easily lead them into more open houses on a regular basis and make them buyers once they have their credit ready.
Follow-ups
Following-up with visitors after the open house is over is extremely important. That’s why it’s best to have every guest sign in with their name, phone number and e-mail. If the home ends up having a price reduction or any other beneficial change, those visitors may be motivated to buy.
Most attendees are not ready to buy that day, but if you keep in contact with them, they’ll be likely to turn to you when they are. Send an e-mail with listings once a month or make contact in a way that you are comfortable with; it will pay off.
Find What Works
A lot of people say “no” to open houses before they realize how they really work. But if you consider the facts, you might see all of the benefits.
Find the method of selling that works best for you; chances are if you host an open house the right way, you’ll find that it works!2016-04-29T15:26:00-07:002019-01-17T10:54:04-07:00Joe Samsontag:joesamson.com,2012-09-20:3608Going from Renting to Owning a Home in 60 SecondsIt will only take you 60 seconds to read this post and by the time you finish, you can be well on your way to plan out the next steps of your home ownership dreams or to help someone who you really care about to start investing in their own home.
<img style="display: block; margin-left: auto; margin-right: auto;" title="Going from Renting to buying" src="/userFiles/840/image/blog/renting_a_home_to_own.jpg" alt="Going from Renting to buying" width="600" height="440" />
If you're a renter then chances are you have high hopes of owning your own home one day. You want to put those rent payments towards something you'll eventually own, and the closer you get to finally achieving the goal, the better you feel. But, while you're saving up for that down payment, are you doing anything else to prepare? Take a look at the following tips to help you get closer to finally owning your own place!
Look at Your Credit Score in the Eye
If you don't already know what your credit score is, then it's important to become familiar with it. Most lenders won't give you a decent loan if your credit isn't in shape, and that's why you need to know what your score is. If it's not where you want it to be, then try to take out credit accounts so you can start building better history.
Learn About Being a Homeowner
A lot of people are surprised to learn that being a homeowner comes with a lot of expenses. For example, you have to pay for insurance for your home, taxes, and community fees (if applicable) in addition to your mortgage payment.
You will also have to cover repairs, landscaping and other maintenance around the home as they are necessary. Sit down and figure out what expenses you may face as a homeowner, especially if you live in a <a href="https://www.joesamson.com/calgary-condos/" title="Search CONDOS for sale in Calgary">condo</a> or home with an HOA. These have special rules and you may need to pay extra in order to follow those.
Compare Your Rent vs. Buying Expenses
If you were to continue renting for longer, would it be a better financial move for you? Consider the benefits of home ownership versus renting to determine which choice you should make right now. Sometimes it's better to continue renting while other times it's best to buy before prices of homes in your desired neighbourhood increase.
Learn About Tax Benefits
When you own a home in Calgary you have a lot of expenses, but you also have deductions for the property taxes and mortgage interest that you pay. If you have a business, this could save you a lot of money when tax season comes around and may make owning a much better choice than renting.
Look at Mortgages and Down Payment Options
If you don't have 20% to put towards your down payment, then you'll have to take out mortgage insurance, which is an expense on top of your loan, insurance and tax. The good news is that if you're willing to pay that mortgage insurance, you may be able to get a loan for as little as 5% down.
Take these tips and implement them into your home-saving strategy. By doing your research, saving your pennies and focusing on what you want, you should be able to invest in a place in Calgary that you love. Just remember there's no reason to rush, and a great real estate agent can help you work through all the details.2016-04-16T15:31:00-07:002018-02-19T16:55:40-07:00Joe Samsontag:joesamson.com,2012-09-20:3609Real Estate Agents vs. Private Home Sellers<img style="display: block; margin-left: auto; margin-right: auto;" title="Real Estate Agent vs private seller" src="/userFiles/840/image/blog/real_estate_agent_vs_private_seller_600.png" alt="Real Estate Agent vs private seller" width="600" height="366" />
Are you thinking about moving, but need to sell your home in order for that to happen? Before you can get the keys into another person's hands you'll first have to choose how you're going to sell. Do you want to hire a real estate agent, or do you want to handle the sales process yourself?
If you're thinking about taking the reigns and selling on your own, there are many facts you should know before jumping right in. Understanding these can make you more aware of the drawbacks you may face.
The Expense of Advertising
When you hire a real estate agent you're paying for their full service, which includes the expense of advertising. Agents regularly pay to have memberships to real estate websites and directories, and if you are able to get into those that aren't exclusive, you'll have to pay for that membership as well.
If you want even more exposure you'll have to pay to put your home on various other home sale sites, especially those that are popular. On top of that, you will need to cover the cost of taking professional pictures so you can attract people to actually want to click on your home in particular.
Advertising expenses don't stop there, especially if you want to maximize your chances of a quick sale. Brochures, flyers and ads all cost money to produce and maintain. It's important to be prepared to shell out a lot of cash up front for various fees and memberships. And doing so doesn't even guarantee you'll get a lot of attention since it can be difficult to separate yourself from other homes without adequate advertising experience.
Selling for Less than What Your Home is Worth
Nobody and I mean nobody, wants to sell their home for less than it's worth. You want to get maximum value for the property you've worked so hard on, and in order for that to happen, you have to price it appropriately. It might seem easy to do this because you can simply call an appraiser, but there's actually considerable risk in this.
The majority of appraisers will often their clients lower numbers because they don't want to be sued for <a href="https://www.joesamson.com/blog/ridiculous-reasons-to-overprice-a-home/" title="Read: Ridiculous Reasons to Overprice a Home">overpriced homes</a>. Even someone who seems reputable and honest may low-ball the numbers they give you, and that's not going to help when you put your home up on the market.
When you hire an agent this scenario is far less likely to happen because part of their service is a thorough market analysis. They'll use their experience with selling homes combined with current market conditions to help come up with a fair price. Agents want you to make money on your home and are motivated to price it accurately so it doesn't spend a lot of time sitting in limbo.
Still not sure if it's worth it to hire an agent? Keep this in mind: the majority of homeowners who privately sell end up losing tens of thousands of dollars from underpricing their home, which is far more than many agents charge. This doesn't even take into account the risk you take with negotiating on your own, which could result in selling for less than you anticipated. If you're not aware of what your home is worth, you could end up taking an offer that's too low.
Not Preparing Your Home Properly
Did you know a properly <a href="https://www.joesamson.com/blog/get-rid-of-it-before-selling-your-home/" title="Read: Get Rid of it... Before Selling Your Home">staged home</a> can sell more quickly than one that's not? For example, a home may be more likely to sell if personal pictures are taken down, the right window treatments are installed and the right paint colours are chosen.
Making your home appealing to you is important while you live in it, but it needs to be appealing to potential buyers while you're selling it. The details are extremely important, and you have to consider every last one to have a chance at selling your place quickly.
Real estate agents are helpful during this process because their experience means they know how to make your home look more appealing. While you could certainly look up tips on the internet, nothing is a replacement for real-life experience. It could take you months of trial and error with your home's preparation to figure out what is going to help make a sale possible.
Dealing With the Paperwork
It's well-known that there is a ton of paperwork to sign when you buy a home, but when it comes to selling a home yourself, there's much more. In addition to legal forms, there are also confusing papers that are crucial to the sales process.
All of those have dates at which they have to be signed/filed as well, which is why it's so important to be familiar with what they are and how to take care of them. It could take you months to learn how to do all of the paperwork on your own, and if you missed just one thing it could be a hindrance to the selling process.
The biggest benefit of hiring an agent is the fact that they take care of this paperwork for you. Sure you'll have to sign things as they come, but you won't be the one responsible for finding them and filling them out. Your agent will do all of this for you, which makes it so easy to track everything that's going on.
Doing the paperwork on your own is certainly possible, but it is an incredible amount of work that you have to be prepared for. If you're going to do it then I'd recommend finding as many resources as you can.
Not Getting Exposure
Remember the advertising that we talked about above? That can pay off by getting you mild exposure, but it's not anything compared to the exposure that an established real estate agent can get. That's because only licensed agents to have access to some of the largest and most popular listing services that buyers trust.
Maximizing exposure without professional tools and experience is difficult, and may take a lot of time to get used to. You may have to go through a lot of different options until you find something that gets you a lot of phone calls or e-mails.
Another reason why you may not get exposure is that your home is listed for sale by owner. While not everyone will be discouraged by this, some buyers specifically want to work with agents because they trust their expertise. This is why a lot of people will filter out homes that are privately sold and will only search through agents.
Going Through Unqualified and Non-Serious Buyers
When you're in charge of selling your home it's important to be welcoming to all potential buyers who come your way. But, it's also important to remember that not everyone who contacts you or comes into your home will be the right buyer. Some may not even qualify for the price of your home and others may just want to take a look around to see what the place looks like.
The benefit of having an agent around is that they help you weed through the buyers by asking the right questions. Doing it on your own means you're the one who needs to ask questions and you'll need to make sure buyers are pre-qualified before any of the paperwork is started.
It can be exhausting to go through a lot of buyers, and it can be a huge waste of time. Through experience, you'll learn what to ask and look for in buyers, but that could mean sitting on the market for months or even years longer than you ever anticipated.
You Take All Liability
It's your responsibility to tell the buyer all about the home you're selling before any paperwork is signed. If you were to fail to disclose information about the home, then that liability could fall on you in the future.
For example, you could potentially be liable for a lot of repair costs and other expenses because you didn't tell the buyer that the roof was in bad shape. That would end up cutting into your profits and would make the entire process of selling privately not even close to worth it.
This is likely not to happen when you hire a real estate agent because they unearth all information about the home from the start, and they make sure you are aware of the need to disclose the details.
It might not be pleasant to tell potential buyers about the things that aren't 100% great in your home, but it's necessary. If you really want to avoid potentially turning people away, then you should try to have repairs and upgrades done ahead of time so you can talk about the quality work you've had done.
You'll Have to Clear Your Schedule
Thinking about going on a short trip during the weekend? Think again if you're responsible for selling your home. If a buyer wants to come and see your place, it's important to be open to their schedule. Always being unavailable may cause you to turn a lot of people away, including the buyer you've been looking for. It's okay to be unavailable while you're working, but other activities may have to wait until you find a serious buyer.
If clearing your vacation or activity schedule is okay, then hopefully you'll be okay with opening your availability for phone calls and e-mails. People want to learn more about homes before they buy, and will likely contact you to ask a lot of questions. Quickly responding is essential, and may help increase your chances of selling.
Discovering What's Right for You
Selling a home privately is something that can be done, but that doesn't mean it's easy. It requires a lot of time, a lot of energy and a willingness to learn the ins and outs of real estate. If you're not sure whether or not it's right for you, ask yourself if you could deal with the considerations above. There's a good reason real estate agents are in demand, and you'll find that they offer true value for the service that they provide.2016-03-30T15:36:00-07:002018-02-19T17:00:49-07:00Joe Samsontag:joesamson.com,2012-09-20:3610Why REALTORS® are Worth So Much?<img style="display: block; margin-left: auto; margin-right: auto;" title="why realtors cost so much" src="/userFiles/840/image/blog/why_realtors_cost_so_much_board_600.png" alt="why realtors cost so much" width="600" height="395" />
When <a href="https://www.joesamson.com/sellers/" title="Sell Your Home">selling a home</a> it's important to ask as many questions as you can so you learn more about the sales process and what decisions you're making for your future. Most of your questions will likely be about how the sale actually works, but are you also wondering why the agent's commision is set at what seems like a high price?
In most situations, this is an expense that the seller will take on, and that's why it's so important to understand what you're paying for. Some of the top answers that can help you understand more about this rate include:
The Commission Will be Split
Let's say you're selling a home for $300,000 and the commision for the agent you hired to sell it is 6%. You might think that making $18,000 for one sale is a lot, but that's likely because you're not considering how that commision gets split between others. When you take all of those things into account, the amount that the agent takes home really isn't as much as you would have thought.
In most situations the selling agent has to pay out 50% of their commission to the buyer's agent. This alone takes a huge chunk out of the money they make, but the expenses don't stop there. They will then have to pay their brokerage a fee, which is, on average, around 30% (depending on the brokerage). And in addition to those fees, they will have to take care of these other expenses:
- Advertising Expenses<br />- Office Expenses<br />- Operating Fees<br />- Assistant Income<br />- Insurance Expenses<br />- Licensing Fees<br />- Taxes
Considering all that selling agents have to pay out, it's easy to see why they set their commissions at a certain rate. It's really a necessity if they want to make any income from the homes that they sell.
Not Selling High Priced Homes
Selling a high priced luxury home can mean a big commission for an agent, even considering the fees and payouts they have to make. But, most real estate agents aren't selling multi-million or even <a href="https://www.joesamson.com/calgary-luxury-homes/" title="Search LUXURY HOMES for sale in Calgary">million-dollar homes</a> on a monthly (or regular) basis. They might get to see the odd one, but unless they specialize in only luxury homes, they'll likely be selling at the mid-range price point. This means that their commission isn't always going to be a big paycheck, and may just barely cover their expenses.
Not Selling Many Homes
A lot of people have the perception that real estate agents sell 10 or more homes per month just because they have a lot of listings. But in reality, even the most experienced agents sell only six to eight homes per year. This means they really aren't making a lot of money from their commissions, even though they are working around the clock. Of course there may be months where the market is booming and the agent is selling a lot of homes per month, but this isn't always typical.
They Do a Lot For Clients
Real estate agents are some of the hardest working professionals out there, because their livelihood depends on getting things done. It might not be easy to see what they do from the seller's perspective, but rest assured there's a lot that goes on behind the scenes. That's why most agents work over 10 hours per day and only take one day off per week. As for what they bring to the table, it includes:
- Experience<br />- Knowledge of Local Laws<br />- Knowledge of the Market<br />- Expertise<br />- Creativity<br />- Drive to Sell
Bringing on an agent is always recommended because they'll be there to help you do one thing: get your home sold quickly. They are the experts and know all of the small (but important) details that go into the sales process. If you think they just list your home for sale and then wait around until someone contacts them, think again! They actually do a whole lot more, and some of those things include:
- Advertising<br />- Taking Pictures/Videos<br />- Setting up Appointments<br />- Speaking with Potential Buyers<br />- Open Houses<br />- Negotiations<br />- Paperwork<br />- Contracts<br />- Legal Forms
There are a lot of steps that need to be taken to sell a home and get the keys in the buyer's hand. Agents work much harder than most people realize, and have to do things properly in order for the sale to be legal and binding. Their service is worth the commission that they are charging because of all that they do!
The Risk of Selling
Being a real estate agent is actually quite risky, especially for professionals who are just getting started. Some of the biggest risks come from:
a) Not Being Able to Sell
Sometimes homes are just difficult to get off the market, even if the agent does everything they are supposed to do. All it takes is the right buyer, and sometimes that one buyer is hard to come across. Unfortunately if this happens and the seller decides to drop them, the agent is out operating costs.
b) Not Having a Lot of Homes Selling
An agent could have a lot of homes for sale at one time, but if they aren't actually selling any of those, then they are once again out the operating costs for their business. Not only do they have to pay their staff, but they also have to pay for insurance, marketing, transportation, office expenses and everything else that is required to simply run their business. If there aren't commissions coming in, then the agent has to figure out how to pay for these on their own.
c) Seller Backs Out
If a seller decides they want to back out of working with an agent before the sale is complete, then the agent is again out cash for trying to sell that home. Unfortunately this does happen quite often, especially since sellers are generally under the impression that their home should be off the market within days or just a couple of weeks.
d) No New Listings
Real estate agents can have a steady income when they are selling homes on a regular basis, but if they don't take in new clients all the time, then their income could suffer. They have to make sure they are constantly marketing themselves so they have new homes coming in to sell.
They Have Experience and Expertise
You could certainly try to sell your home on your own, but do you think you'd be successful? A very small percentage of people who try to do this are, and the rest generally turn to agents to help them out. After all, they do have to be licensed in order to do this job, and are extremely knowledgeable about all types of real estate transactions as a result. In addition to this, most agents train with those who are more established when they first start out so they can get real-life experience.
And how important is the experience? In real estate, it's everything! It could mean the difference between a sale going through successfully or being denied because of a technicality.You want someone who knows what they are doing, and time on the job is one of the best ways to be sure of that. Some other reasons why and an experienced agent is worth paying for include:
- Contacts in the business for help finding buyers<br />- Network of agents they can work with<br />- Catching potential problems ahead of time<br />- Making sure all paperwork is done properly<br />- Knowing how to talk with potential buyers<br />- Being able to negotiate<br />- Giving you realistic advice based on past experience<br />- Knowledge of the sales process from start to finish<br />- Knowledge of the local real estate market
They Help You Avoid Pricing Too Low
If you're thinking you could just hire an appraiser and then go to a lawyer to sign contracts to sell your home, you'd be right. And while this would help you avoid paying a commision to a real estate agent, do you know how much money it could cause you to leave on the table?
On average, owners who sell their own homes end up selling for 20% LESS than those who hire real estate agents. If you're wondering why this happens, it generally starts with the appraisal.
Many appraisers may give their clients lower prices for what their homes are worth, and that's because they don't want to be sued for fraud. If you went off of the number they gave you alone, you could miss out on tens of thousands of dollars that you rightfully deserved.
A past client of mine is a great example when they received various appraisal values for their home. They had finished <a href="https://www.joesamson.com/blog/making-sure-renovations-pay/" title="Read: Making Sure Renovations Pay">renovating</a> their property and they wanted to refinance their mortgage to pay back some of the renovation cost. The bank's appraiser came in at $750,000 while the independent appraiser valued their property at $950,000. That's a whopping difference of $200,000.
When you pay for a real estate agent you're paying for their expertise with the market, and they will know the appropriate price for your home. They want to help you maximize profit, and will provide you with a realistic number of what your selling price should be.
Seeing the Value in Service
With all that you now know about real estate agents, how they work and the true commision they take in, do you see why commision rates aren't really that high? It might seem like they are taking in a nice amount of money at first, but that could be far from the truth. These professionals have to work long and hard to become good at what they do, and then have to earn all business that they get in the future. They also rely only on commisions for their income and don't make a base salary from anything else.
It can be exhausting being in this career, and that's why you have to truly love what you do to do it well. When you sell your home with one of these professionals, take a moment to ask them more about what they are doing for you. Chances are they'd be glad to explain more about the process, and you'll see just how much value they bring to the sales process.2016-03-11T16:39:00-07:002018-02-19T17:04:00-07:00Joe Samsontag:joesamson.com,2012-09-20:3611How to Lower Your Property Taxes<img style="float: right; padding: 10px;" src="/userFiles/840/image/blog/property_taxes/How_to_save_property_taxex_som-01.png" alt="" width="500" height="583" />There are many things in life that you just can’t get your head wrapped around no matter how hard you try.
Figuring out how your city calculates property taxes is definitely on the list of those mysteries that we just seem to ignore because of its complicity, yet we know that it drains hundreds and sometimes thousands of dollars from our bank accounts year after year.
Did you know that you have a pretty good chance to lower your property taxes? All you need to do is to find some errors that the City may have made when calculating your property taxes and then you need to present the facts to them.
Are you interested in finding out what steps you need to take to keep some of your hard-earned dollars?
Understanding how property taxes are calculated can be a well-spent investment of your time and put money back in your pocket that you well deserve to keep!
I can’t promise you that every one who appeals their tax assessments is going to walk away as a winner. However, it’s definitely worth a shot to explore and find out how much you can potentially save if you were to go through the appeal process.
Is it Worth Your Time?
<img style="float: right; padding: 10px;" src="/userFiles/840/image/blog/property_taxes/Time_is_Valuable.jpg" alt="" width="501" height="334" />The first thing that you need to decide is whether it’s going to be a time well spent for you?
One of my personal pet peeves is that many people tend to go to battles to fight a parking ticket or any fines simply out of pure principal values. In and of itself there is nothing wrong with this attitude as long as you have all the time in the world to fight for justice.
Unfortunately, most of us have to work for a living and if someone is going to spend dollars to make pennies, then I am sorry, but I just don’t see the rational thinking behind that train of thought. At least, not from an economic point of view.
Based on an average case, you can expect that the whole process is going to take you at least 3-4 hours of analyzing, research and preparations time. As an example, if you can earn more money just by staying at work for an extra 3-4 hours, then most likely you’re better off to just accept the imposed tax bill and forget about it, even though you may be right.
I know it sucks… But often we can choose to be right or happy, but very rarely we get both at the same time.
But, if you have decided that it’s worth your time to further pursue lowering your taxes then read on to find how it works and how to go about the appeal process.
How are Property Taxes Calculated?
Most municipalities use property values to figure out what portion every homeowner is going to pay. They call this the “fair and equitable taxation” model. Every year the City approves a budget that they will need to run City service. The majority of this revenue must be collected from property taxes and satisfy the total budget that they have set out. Therefore, regardless whether home values are going up or down, the City must be able to generate sufficient income from homeowners.
The City achieves their target by applying the same tax rate to every property. Meaning that if your home is valued higher, then your property taxes are going to be higher as well. Interestingly, the City doesn’t tell you what the tax rate is going to be until several months after all appeals coming to an end. The logic behind this is to guarantee themselves the set budget by figuring out what properties are going to be valued at and setting the <a href="http://www.calgary.ca/cfod/finance/Pages/Property-Tax/Tax-Bill-and-Tax-Rate-Calculation/Historical-Tax-Rates.aspx" target="_blank">current tax rate</a> on this figure.
<img style="display: block; padding: 10px; margin-left: auto; margin-right: auto;" src="/userFiles/840/image/blog/property_taxes/Tax_rate_formula.png" alt="Tax Rate Formula" width="500" height="68" />
Now that you understand how property taxes are levied, we can both agree on that the municipality is always going to get what they want by continually adjusting the tax rate regardless of your home’s value.
Your only option to lower your property taxes is to find an error in their assessment process and prove it to them.
City Assessed Values are NOT Always Accurate
In fact, they are most often wrong than right. Why is that?
There are many factors that influence property values and most variations cannot be accounted for by robots or complicated mathematical algorithms that city officials are using to calculate property taxes.
In the chart below, you can find 10 properties picked randomly that have sold within 30 days of when City of Calgary Tax Assessments was calculated (July 1, 2015).
<img style="display: block; padding: 10px; margin-left: auto; margin-right: auto;" src="https://assets.site-static.com/userfiles/840/image/blog/Tax-value-comparison.png" alt="Comparisons of Property Tax Assessed Values vs. Actual Sold Values" width="1200" height="1265" />
How Does the City Calculate Assessed Values vs. REALTORS®?
<img style="float: right;" src="/userFiles/840/image/blog/property_taxes/How_to_properly_compare_your_property_value-01.jpg" alt="" width="501" height="334" />After a lengthy conversation that I had with a City of Calgary official, I’d found out that they have severe subjectivities included in their evaluations which is often being controlled by the computer program that they have created. This is probably the number one reason why a city assessed value can be so different from a market evaluation that a professional real estate agent prepares which often takes hours to complete.
The city also uses a direct comparable method to figure out property values just as REALTORS® do. However, there are several details that can contribute to the price variance.
In Calgary, tax assessed values are typically sent out in early January and they’re reflecting property values registered up to six months prior to it. In a changing market, this could easily mean a 5%-10% increase or decrease in value. Make sure that you’re looking at comparable from the correct time period.
Municipalities go back 2-3 years to collect data and the computer program automatically adjusts for time while REALTORS® use most current available data to figure out fair market values.
Certain upgrades and condition of a property are never going to be a perfect match. Real estate agents need to manually review and carefully adjust for a variance that can be detected between properties. While City officials are using “rule of thumb” figures to make adjustments and this could inflate values if you happen to own near homes that sold with luxury type upgrades in them.
Assess Your Assessment
In Calgary, property tax assessment values are public information with limited information that you can look up by visiting: <a href="https://assessmentsearch.calgary.ca" target="_blank">https://assessmentsearch.calgary.ca</a> or to the applicable website in your area.
In order to review all the details concerning your own property, you will need to login or create a new account at <a href="https://myid.calgary.ca">https://myid.calgary.ca</a> using your property Roll Number and Access Code which is found on your <a href="https://assets.site-static.com/userfiles/840/file/blog/property-assessment-notice.pdf" target="_blank">Property Assessment Notice</a>.
Once you gained access to the Property Assessment Detail Report. You will need to examine the following two areas.
Verify your property information by checking for any errors concerning your home such as size, developed area, age, condition, etc… See example here.
View how the city had arrived at your assessed value by checking the comparable properties that they have recorded.
For further information on how to perform the above steps, you can find additional information <a href="https://www.joesamson.com/#below">below.</a>
How to Prepare for a Property Tax Assessment Appeal
<img style="float: right;" src="/userFiles/840/image/blog/property_taxes/Prepare_your_case_to_be_a_winner-01.jpg" alt="" width="501" height="334" />For the City of Calgary, you must file your appeal before March 7, 2016.
Review your assessment of factual errors. If you can spot a problem - it claims that your basement is finished or have a 3 car garage vs. no garage then you are going to be a guaranteed winner.
Review comparable properties used by the City to create your assessed value. The more unique your property is the better chances you have of winning your case. If you live in a neighbourhood where “cookie-cutter” homes are all over and yours is similar to them, then chances are pretty high that the assessment is reasonably accurate.
Have a real estate agent to send you more details on the comparable properties used by the city.
If you think that the comparable properties used by City are superior to your home, ask your REALTOR® to provide you with his research on what the property should have sold for within three months of when the property values were calculated. You must be able to build your case by providing at least three good comparable properties that have sold for a minimum of 3-5% less than what your assessed value is or identify a difference of features worth 3-5% of your assessed value.
Details to watch out for when searching for good comparable properties:
Homes must be the same type. I.e: if you have a 2 storey home, then you must use a 2 storey home as a comparable.
Interior size should be within 100sq.ft. for a house or no more than 50q.ft. for a condominium.
Watch out for the same style of parking spots available. I.e: If you have a double car attached garage, then you need to find a similar property that comes with a double attached garage.
Is your basement finished? You should try to find homes with finished basements.
Is it a newly built home on an old lot?
What year was your home built in vs. the comparable property?
It is imperative to take note of that City officials will not consider reports generated by online tools such as Zillow or from websites that automatically generate market evaluations reports. Although there is a bit of an irony in this because they oppose the exact same thing that they are practicing themselves. Be sure to consult with your real estate agent or contact us if you need help.
How to Submit Your Appeal
File your complaint on Calgary Assessment Review Board’s <a href="https://arb.calgary.ca/eCourtPublicCarb/" target="_blank">website</a>.
Next, you will need to file your evidence either online at the above link, in person or by e-mail. All the different ways to contact the City are listed <a href="http://calgaryarb.ca/eCourtPublic/Contact-Us.html" target="_blank">here</a>.
Then you will be advised of your hearing date. Unfortunately, you won’t be given an exact time when it’s your turn as the hearings proceed similarly to a production line. You will need to camp out for either an entire morning or afternoon. <a href="http://calgaryarb.ca/eCourtPublic/Hearing.html" target="_blank">Here is</a> more info on the hearing process itself.
Now it's just a matter of waiting. It could take the Board up to six weeks to notify you, typically by e-mail or in your ePortal.
Finally, if you and the Board don’t see eye-to-eye, as last resort you still have the option to take The City to The Court of Queen’s Bench for a judge’s decision.
Pro tip: if you think that you have the potential to save thousands of dollars on your taxes, then it is strongly recommended to hire a certified property appraiser to support your research.
Additional Resources
<a href="http://www.calgary.ca/assessment" target="_blank">City of Calgary Assessment Website</a>
<a href="https://assets.site-static.com/userfiles/840/file/blog/Assessment_Search_-_How_to_Guide_for_Property_Owners_Calgary.pdf" target="_blank">Assessment Search - How to Guide for Property Owners in Calgary</a>
<a href="http://www.maxrealestateexposure.com/how-to-challenge-high-property-taxes/" target="_blank">How to Challenge High Property Taxes</a> - by Bill Gassett
<a href="http://www.thelasvegasluxuryhomepro.com/blog/how-to-challenge-high-property-taxes-in-las-vegas.html" target="_blank">How to Challenge High Property Taxes in Las Vegas</a> - by Debbie Drummond
<a href="http://www.raleighrealtyhomes.com/blog/wake-county-real-estate-tax-change-what-you-need-to-know.html" target="_blank">Wake County Real Estate Tax Change</a> - by Ryan Fitzgerald
<a href="http://www.greatcoloradohomes.com/articles-for-home-sellers.php" target="_blank">Articles and Resources for Home Owners</a> - Andrew Fortune
<img style="display: block; margin-left: auto; margin-right: auto;" src="/userFiles/840/image/blog/property_taxes/How_to_save_taxes_som.png" alt="" width="600" height="314" />2016-01-14T16:46:00-07:002019-01-17T10:31:36-07:00Joe Samsontag:joesamson.com,2012-09-20:3612Why Home Values Aren’t Dropping in Calgary?<img src="https://assets.site-static.com/userfiles/840/image/blog/Home_Prices.jpg" width="639" height="546" alt="Home Prices in Calgary" title="Real Estate values holding up in Calgary." />
Despite all the worries that the oil industry and the new governments had brought on us, interestingly, home prices in Calgary have weathered the storm surprisingly positively. Since January of 2015 average prices has not changed at all.
After the last oil recession which happened in 2007, Calgary’s real estate prices peaked in June of 2014 at an average of $491,609. December’s average prices were registered at $462,657. Since the peak of the market, we had only seen an average drop of a 5.9 percent in home values.
It’s been said and forecasted all over the news that the current oil recession is expected to last longer than it took in 2007. Yet it’s been over a year now and the side effects are barely being noticed so far. Sales have definitely dropped since a year ago by 18.2 percent, but it mostly shows that buyers are more cautious and they’re looking for properties with a value attached to the price tag.
So why haven’t prices dropped much more in Calgary today than they did 7-8 years ago?
I believe that in the years prior to 2008 when all of the banks almost went belly up, they were giving out mortgages left and right to just about anybody. It was quite common that the average person with an average job could easily qualify for at least 2-3 mortgages at the same time.
Quite a few people got excited hearing about how much money their friends made in real estate and they also went out and bought themselves a couple of investment properties. However, when they heard that the market is tanking, they have quickly decided to get rid of their investment properties and flooded the market all of a sudden which created an oversupply of inventory.
In the last 12 months, the best news that I could see in our real estate market was that we had fewer homes available for sale than in the prior year. Interestingly, common wisdom would have expected exactly the opposite reaction of homeowners.
I think the number one reason why the inventory wasn’t as high as it was back in 2008 is that the banks had put tougher approval policies in place and they filter out many people who shouldn’t become landlords.
What to Expect Calgary’s Real Estate Market to be in 2016?
I am going to be bold here, especially since the Calgary Real Estate Board is about to release their official market forecast next week for Calgary. But at my defence, I had gone back and checked their previous forecast and they predicted a price growth of +1.58 percent for Calgary, yet the reality was a 2 percent drop in home values for Calgary.
It’s obvious that the impact of low oil prices are going to have a great effect on Calgary’s oil industry and the first 3-6 months of the year is going to be challenging for not only those who have already lost their jobs but also for those folks who have decided to put their home-buying plans on hold due to the uncertainty surrounding their employment.
Historically speaking it is the spring market when real estate prices tend to be on the upswing. In 2007 when real estate prices peaked in June, prices started heading in a downward direction and they have temporarily recovered in the spring of 2008, yet shortly thereafter in the summer months, they continued their decline for the remainder of the year. This spring market trend is quite common to see, even in a down market we can anticipate a bit of a bump of prices in the spring real estate market.
The first 3-4 months of the year is going to be crucial to deciding whether prices are going to decline even further or if oil prices recover somewhat then we can safely say that we can finally relax.
As in most cases, there are many variables that can affect people’s circumstances. I think there is an even bigger threat lingering above our heads than the recession of the oil market.
In the second half of 2015, we have started seeing more instability in the global investment markets. The obvious uncertainty that everybody is trying to avoid to talk about is certainly all around is, but it’s going to be only a matter of time before everyone is willing to admit it.
The global financial markets have been increasing quite steadily over the last 7-8 years now without a significant correction and also without any fundamental reasons behind it. The biggest concern that is slowly starting to reveal itself is some of the skeletons that the financial sector, companies and many governments haven’t cleaned up yet that caused the market crash back in 2008.
I would say that a major stock market correction would probably have a deeper impact on people’s decisions to buy or sell a house in 2016.
Having said all that, and assuming that my predictions are going to happen, I am carefully suggesting that Calgary’s real estate market could see a 4-6 percent drop in real estate values in the coming year.
Let me know if you have any specific questions about the <a href="https://www.joesamson.com/blog/calgary-real-estate-market-statistics/" title="Calgary Real Estate Market Statistics">Calgary real estate market</a> or when you need help buying or selling your next home. I look forward to hearing from you!
2016-01-05T17:47:00-07:002019-01-16T14:53:11-07:00Joe Samsontag:joesamson.com,2012-09-20:3613Things to do in Bowness<img style="display: block; margin-left: auto; margin-right: auto;" src="/userFiles/840/image/blog/Bowness_Park.png" alt="Bowness Park in Calgary" width="1200" height="799" />Photo by Nelu Goia
Before starting your home search, you may want to get a taste of the different neighbourhoods in Calgary. If so, <a href="https://www.joesamson.com/calgary-northwest/bowness/" title="View Homes in Bowness">Bowness</a> is a place you should check out! If you're used to city dwelling, then this area will offer you that small town feel you might be longing for. It is scenically beautiful (especially the homes), and has a beautiful park that makes for a wonderful place to spend an afternoon. The residents who live here love it, and that's easy to see when visiting for even just an afternoon.
So, what can you do in Bowness?
Food: If you’re looking for something to eat, then Fat Olives Brasserie comes highly recommended from the locations. This restaurant has a beautiful interior, with floor-to-ceiling windows that allow a whole lot of light to shine through. It specializes in Mediterranean and English food with a menu that changes throughout the year. Some of the top menu items include:
Boeuf Bourguignon
Six Hour Slow Braised Lamb
Mixed Bruschetta
Pudding
Entertainment: For those who want to do something educational and fun, The <a href="http://calgaryics.org/" target="_blank">Irish Cultural Centre</a> is a wonderful place to visit. It's packed full of historic information about Irish culture throughout the year, but if you're visiting during St. Patrick's Day, you'll find many different events going on.
<img style="float: right;" src="/userFiles/840/image/blog/bowness-park-calgary.jpg" alt="Bowness Park in Calgary" width="400" height="300" />Nature: Visit <a href="http://www.calgary.ca/CSPS/Parks/Pages/Locations/NW-parks/Bowness-Park.aspx" target="_blank">Bowness Park</a> and you won’t be disappointed! This was actually created before the First World War, so it's packed full of historic locations. And while it was affected by the flood in 2013, it's still a sight to see. Renovations have made this a place where kids can enjoy the spray park and adults can enjoy going out on the river in a paddleboat. In the winter there's also an outdoor skating rink, so it's a lot of fun for the entire family. Come here for lunch or just a trip in the river and you'll have a great time.
Shopping: <a href="http://thelightcellar.ca/" target="_blank">The Light Cellar</a> is a grocery store that is not to be missed when in Bowness. If you’re thinking “really, a grocery store?” Just wait until you hear more about it! This store is a locally owned gem, bringing residents a variety of choices of healthy, natural foods.
While raw chocolate is one of the favourites, there are also spices, locally foraged foods and many other choices for you to bring home with excitement. They also hold classes for cooking throughout the week to get the community involved in healthy eating made easy! Not sure what something is? Just as the staff, they are incredibly friendly.
Why is Bowness so Special?
The strong sense of community is what makes this neighbourhood really shine. From the free holiday dinner at Christmas time to the block parties that connect residents, there's something truly special about this place. It’s a wonderful area to spend the day or even the weekend, especially if you want to explore all of the fun local shops that have a lot to offer.2015-06-30T17:19:00-07:002018-02-19T17:11:50-07:00Joe Samsontag:joesamson.com,2012-09-20:3614Inglewood Sunfest<img style="display: block; margin-left: auto; margin-right: auto;" src="/userFiles/840/image/blog/inglewood/Inglewood-sunfest.png" alt="Inglewood Sunfest in Calgary" width="1199" height="832" />
What better way to celebrate the summer months in Inglewood than by going to the Seize the Sunfest? This is an Inglewood favourite that is perfect for all community members, including children of all ages.
When: Saturday, August 1st<br /> Time: From 11 a.m to 5 p.m<br /> Where: Mainstreet Inglewood<br /> Cost: Free Admission
If you haven't been to this event before, then mark your calendars to attend this year, even if you don't <a href="https://www.joesamson.com/calgary-city-centre/inglewood/" title="View Homes in Inglewood">live in Inglewood</a>! It's a street party that will have great food, live entertainment, arts, crafts and even bouncy houses for the kids. Everyone will have something to do, whether they want to watch the street performers or just relax on the patio before walking around to the different vendors. You'll be sure to spend the entire day when you're there, especially if you enjoy learning about new local businesses and what they have to offer.
Things to Keep in Mind: In 2014 the Sunfest made it a priority to reduce the amount of waste that this event created. After last year turned out to be a success with 62% of waste being diverted from the landfill, 2015 is set to be even stronger. The goal is to divert 75% of waste, which means you're going to have to keep in mind some rules:
No styrofoam containers allowed
Vendors are encouraged to use bamboo food containers and utensils
Bring a reusable water container
There will be garbage cans, but try to use the Green Event Service Stations as much as possible.
Have questions? Ask a volunteer!
How to Help Out: If you’re interested in being a volunteer, then please e-mail: <a href="mailto:info@inglewoodsunfest.ca">info@inglewoodsunfest.ca</a>. Volunteers are crucial when it comes to keeping this event going, so your help will be appreciated.<br /><br /> How to Perform or Attend as a Vendor: You can register via the official website for Sunfest at <a href="http://www.inglewoodsunfest.ca" target="_blank">http://www.inglewoodsunfest.ca</a>.<br /><br />Where to Park: It’s recommended to walk to the event if you live in the neighbourhood, otherwise parking can be difficult.
Throughout the day there will be tons of entertainment for the attendees to enjoy. Street performers are among the favourites, but there will also be music and games. And kids won’t be bored, either. There will be a lot of kid-friendly activities, so by the end of the day, they should be exhausted from all of the fun that they had!
If you’re worried about food, there will be plenty of vendors who have snacks, meals and beverages available for purchase. You can bring your own snacks as well, so it’s all about what you want to do.
One thing is for certain: if you come to the Sunfest this year, you’ll want to go back next year. Everyone who attends, from old to young, is guaranteed to have a great time and meet a lot of community members/neighbours.
Festival Sponsors & Suppliers
<a href="http://www.shinefm.com/" target="_blank"><img src="/userFiles/840/image/blog/inglewood/shitefm.JPG" alt="" width="150" height="135" /></a> <a href="http://urbanaudio.ca/" target="_blank" rel="nofollow"><img src="/userFiles/840/image/blog/inglewood/urbansound.jpg" alt="" width="150" height="89" /></a> <a href="http://www.villagebrewery.com/" target="_blank" rel="nofollow"><img src="/userFiles/840/image/blog/inglewood/villiage.png" alt="" width="150" height="89" /></a> <a href="http://www.macconpublicsafety.com/" target="_blank" rel="nofollow"><img src="/userFiles/840/image/blog/inglewood/maccon.jpg" alt="" width="150" height="89" /></a> <a href="http://greeneventservices.ca/" target="_blank" rel="nofollow"><img src="/userFiles/840/image/blog/inglewood/green-event.jpg" alt="" width="150" height="149" /></a>2015-06-23T17:22:00-07:002018-02-19T17:12:29-07:00Joe Samsontag:joesamson.com,2012-09-20:3615Best Patios in Calgary<img style="display: block; margin-left: auto; margin-right: auto;" src="/userFiles/840/image/blog/patios/Calgary_patios.jpg" alt="Calgary Patios" width="1202" height="655" />
Summer is upon us, and now that the weather is nice, outdoor dining might be on your mind. Luckily there are a lot of great patios you can visit during the warm summer months, and beyond being beautiful, they also serve some tasty food. If you’re ready to get out and explore some of the hottest new neighbourhood restaurants, take a look at some of the best below. They are well worth exploring, especially if you’ve been wanting to see some of the many communities that they’re located in!
<img style="float: right;" src="/userFiles/840/image/blog/patios/Azuridge.png" alt="Azuridge" width="300" height="203" />Azuridge
<a href="http://www.azuridge.ca" target="_blank">Azuridge</a> offers some of the most gorgeous views of the Rocky Mountains, this is one place you must visit this summer. It's a short 30-minute drive from downtown to Priddis, so it's worth visiting no matter where you live. The patio outside is open on a daily basis from 12 in the afternoon to 9 in the evening, and reservations are recommended on days when the estate is booked for an event.
Other Things to Do: If you're interested in doing something else while in Priddis, check out the Brown-Lowery Provincial Park.
<img style="float: right;" src="/userFiles/840/image/blog/patios/The_Lake_House.png" alt="The Lake House" width="300" height="199" />The Lake House
<a href="http://lakehousecalgary.com/" target="_blank">The Lake House</a> is located in the Lake Bonavista neighbourhood, this is one restaurant that really comes to life during the summer. It's located right on a private deck on the lake, so the views of the water are unbeatable. The menu has rave reviews from locals, so it's definitely a place you'll want to check out soon.
Other Things to Do: Check out the Garrick Theatre throughout the summer to see live shows and concerts.
<img style="float: right;" src="https://assets.site-static.com/userfiles/840/image/blog/patios/Chefs-Table-at-Kensington-Riverside20Inn.jpg" alt="Chef's Table at Kensington Riverside Inn" width="300" height="222" />Chef's Table at Kensington Riverside Inn
The patio at <a href="http://www.kensingtonriversideinn.com/best-restaurant-in-calgary/" target="_blank">Chef's Table at Kensington Riverside Inn</a> is open during the summer, so don't miss out on it! They have everything from brunch to dinner, and because they are AAA rated, you know you’ll be getting a great meal.
Other Things to Do: Enjoy Riley Park and the beautiful views it has to offer!
<img style="float: right;" src="https://assets.site-static.com/userfiles/840/image/blog/patios/River20Cafe20Restaurant.jpg" alt="River Cafe Restaurant" width="300" height="303" />River Cafe Restaurant
<a href="http://www.river-cafe.com/" target="_blank">River Cafe Restaurant</a> is located in Prince's Island Park, this restaurant boasts one of the best menus in the area. A short walk from the nearby Eau Claire centre is going to take you across a bridge leading into Prince's Island Park where you will find yourself among mature trees and friendly wild gooses feeding on the perfectly manicured grass.
Some of the top choices are the red lentil hummus and the bison striploin. Go for weekend brunch, lunch or dinner for a great meal. After your meal is sure to enjoy the beautiful scenery in the park as you walk past the riverside.
Other Things to Do: Enjoy Shakespeare in the Park, which is located by Mount Royal College.
<img style="float: right;" src="https://assets.site-static.com/userfiles/840/image/blog/patios/Barley20Mill.jpg" alt="Barley Mill" width="300" height="224" />Barley Mill
<a href="http://www.barleymillcalgary.com/" target="_blank">Barley Mill</a> is a local pub and eatery in Eau Claire is a great spot to enjoy drinks on the patio during the summer. You can also munch on a variety of different meal options they have, so there’s something for everyone to have.
Other Things to Do: The Eau Claire Market is a great place to walk around if you want to do a little shopping.
Try out any of these patios this summer and you’re bound to have a great time! They offer a lot of great food, refreshing drinks and spectacular views. And if you explore around them, you’ll get to know the neighbourhoods that surround you better.2015-06-16T17:27:00-07:002018-02-08T18:34:00-07:00Joe Samsontag:joesamson.com,2012-09-20:3616Canyon Meadows Neighbour Day<img style="display: block; margin-left: auto; margin-right: auto;" src="/userFiles/840/image/blog/Canyon-Meadows-Neighbour-Day.jpg" alt="Canyon Meadows Neighbour Day" width="1200" height="800" />
If you live in the <a href="https://www.joesamson.com/calgary-south/canyon-meadows/" title="View Homes in Canyon Meadows">Canyon Meadows</a> area, then go out and celebrate Neighbour Day with your fellow neighbours and local businesses! It's a great way to connect with your community, but it's also packed full of fun for the entire family.
Whether you’re new to the area or have lived their entire life, you’ll be guaranteed to have a good time. Most people look forward to this all year because it gives them a chance to meet those that live closest to them, and really draws the community together.
When: Saturday, June 27st<br /> Where: Canyon Meadows Community Center Outdoor Park, <a href="https://www.google.com/maps/place/844+Cantabrian+Dr+SW,+Calgary,+AB+T2W+6G4,+Canada/@50.946032,-114.078452,17z/data=!3m1!4b1!4m2!3m1!1s0x537176b14fc6e135:0x570e7a773489bcf9?hl=en">+Google Map</a><br /> Time: 12 p.m to 3 p.m<br /> What to Bring: Blankets, sunscreen and the family!<br /> Cost: FREE<br /> Who: Residents of Canyon Meadows Neighbourhood
This will be an event for all, so bring your entire family! It’s going to be an old-fashioned picnic and BBQ with a lot of great food and beverages as well, so don’t worry about packing a lunch (unless you’d like snacks for the kids). You can stay for as long as short of a time as you’d like, so drop by or make yourself at home for the duration!
Worried about the kids getting bored? There will be a lot of fun activities for kids of all ages, so they’ll have something to do. This includes carnival games that will have a lot of fun prizes! What better way to enjoy the beautiful weather this time of year? Bring a blanket to place on the grass and you’ll be able to spend the day having fun with your family and getting to know your fellow neighbours.
The event is also kicking things up this year with a live band that will be playing throughout the day. There will also be a kids bike parade at 2 p.m, which you can get your children involved with if you're interested! Remember that this event is 100% sponsored, so it’s free for the community to enjoy.
Volunteering
If you're interested in helping out, then you’ll be of great use to the event. They are always looking for individuals to run games, help cook the food and make sure all of the other details are taken care of. You can also help by sponsoring if you’re able to. To learn more about volunteering or sponsoring, e-mail <a href="mailto:cmneighbourday2015@gmail.com">cmneighbourday2015@gmail.com</a>.
You can also RSVP to the event (this is not mandatory) on the official Facebook page, which is located at: <a href="https://www.facebook.com/events/430388167134000">https://www.facebook.com/events/430388167134000.</a> If you “like” the page you’ll receive all updates for Canyon Meadows, so it’s an easy way to stay connected and updated on events like this.2015-06-09T17:34:00-07:002018-02-19T17:15:40-07:00Joe Samsontag:joesamson.com,2012-09-20:3617Dinosaurs In Motion Travelling Exhibition in Calgary<img style="display: block; margin-left: auto; margin-right: auto;" src="/userFiles/840/image/blog/Dinosaurs-In-Motion-Travelling-Exhibition.jpg" alt="Dinosaurs In Motion Travelling Exhibition Telus Spark" width="640" height="320" />
<br />While you're checking out <a href="https://www.joesamson.com/calgary-city-centre/bridgeland/" title="View Homes in Bridgeland">houses in Bridgeland</a> community and are interested in doing something fun with the family, then Dinosaurs in Motion is a wonderful choice! It’s been going on since January but ends Sunday, June 28th, so now is the time to go with your family.
Dinosaurs in Motion has fully interactive and realistic looking dinosaur sculptures that actually engage children and attendees of all ages in learning! They'll have fun seeing these creatures in person, learning about what they ate, how they lived and just how large they were in size.
Where: 220 St. George's Drive NE, Calgary, AB, T2E 5T2<br /> When: 10 a.m to 4 p.m<br /> Cost: Included with Admission or Membership to TELUS Spark<br /> Age 18-64 $19.95 <br /> Age 65+ $17.95<br /> Age 13-17 $15.95<br /> Age 3-12 $12.95<br /> Age under 3 - Free
When you attend this exhibit, you'll have a lot to see and a lot to do. Each of the 14 life-size dinosaur sculptures has informative displays, including how they are connected with the area! What's even better is the fact that the creatures can move so guests can get a good idea of how they move.
While at the exhibit you can also enjoy drawing, sketching and sculpting so you can enjoy showing your creativity. Kids especially enjoy the art section, but that's not where it stops. Guests will also learn about kinetics, biomechanics and robots! It's all laid out to be a lot of fun, as kids can help move dinosaurs with various pulleys and remote controls.
About TELUS Spark
TELUS Spark is a science centre located in the Bridgeland community. It's open all throughout the week and regularly has events and exhibits for the community to enjoy. There are even films and live planetarium shows available throughout the year, making it a great place for kids of all ages to learn.
There are parking spaces available, but if you would like to exercise, you can bike via one of Calgary's many bike paths! There's also a route from the LRT, so there are many ways to arrive and get back home safely. Pricing is per exhibit, but if you're interested in going to different events throughout the year, it's worthwhile to purchase an annual membership. Prices can be found on the TELUS Spark website, and vary based on age and type of admission.
Some of the other fun events and various activities this centre have included:
- Adults Only Night <br />- Sparks 'n' Spurs <br />- Live Science Demonstrations
You can find more specific information about upcoming events by looking on the website, and you can purchase tickets there as well.
The Dinosaurs in Motion is a wonderful exhibition to attend if you haven’t yet been to this centre and will be a great way to meet locals in the area. You’ll likely find a lot of other events you enjoy throughout the year as well, so there will always be something you can do as a family.
- Photo by TELUS Spark Centre2015-06-01T17:36:00-07:002018-02-19T17:17:01-07:00Joe Samsontag:joesamson.com,2012-09-20:3618How to Choose a Home Inspector<img style="display: block; margin-left: auto; margin-right: auto;" src="/userFiles/840/image/blog/Choosing_a_home_inspector-2.jpg" alt="Choosing a Home Inspector" width="1199" height="707" />
Home inspections are crucial parts of the selling and <a href="https://www.joesamson.com/blog/are-you-ready-to-buy-a-home/" title="Read: Are You Ready to Buy a Home? [INFOGRAPHIC]">buying process</a> and can be advantageous to either party. The insight given by an inspector can mean a more accurate price for the property, as the entire structure is looked over with this service. However, not every inspection is a walk through the park for the person who hired them. Occasionally with marginal professionals looking to get things done quickly, there is a lot of room for error.
Finding a qualified, honest and licensed home inspector is more important than ever. And thanks to the popularity of the internet, more people are aware of that. According to a recent survey by the NAR (National Association of REALTORS®), 87% of frequent internet users were more likely to use home inspectors for their next purchase. And even 83% of those who said they used the internet "just a little" said they would hire a home inspector.
In addition to this; news articles, social media and other outlets are helping internet users think more about who is doing their inspection They want to avoid the nightmares they’ve heard or read and want only qualified professionals to help them. How can you make sure this is your experience? Keep reading and you’ll learn all you need to know!
You’ve walked around a home and love the way it looks, so why should a home inspection be done?
Getting Your Mortgage Approved
Are you going to have a mortgage on the home? Then some of the bank’s top requirements are that you have a home inspection done. This is non-negotiable for most lenders once they request it because they want to know if the home has any defects that could cause you to go bankrupt and foreclose.
Paying a Fair Price
What would you do if the home that looked perfect was far from it when you actually moved in? If the plumbing needed to be repaired, the foundation was cracked or the roof needed to be replaced, you could spend thousands having those things done. If you have an inspection, then you’ll be able to negotiate with the seller the cost of the repairs or having the repairs done before you sign the final paperwork.
Your Own Piece of Mind
A home that’s in a bad condition can be extremely unsafe for you, your family and your pets. With an inspection done by a qualified professional, you’ll have peace of mind knowing that you have increased safety. Of course, this doesn’t mean you’ll never run into problems, but it means you know what risks you’re taking on from the start.
DON’T BUY WITHOUT AN INSPECTION! Some buyers get lucky with properties that are in perfect condition, but this is very rarely the case. Most find out about at least one or two problem areas that need to be addressed and are able to have those fixed (or will be compensated for the cost of repair) by the seller.
The Goal of the Inspection
The ultimate goal is to make sure the home really is in good condition, from the top of the roof to the foundation. If it’s not, then it can open your eyes to any problems that may be a financial burden down the road, like repairs or replacements.
The Role of the Home Inspector
A home inspector is a licensed professional who is responsible for telling the client if there are any potential problems within the home. They provide an independent review, which means they are not biased to help either the buyer or the seller. They simply get paid to give professional advice on the state of a home, and to write that in a report.
And because 82% of buyers hire these professionals, they are more in demand than in previous years. Buyers want to minimize their risk, and they know that having a home inspection done is one way to make sure that happens.
Some of the things inspectors look at include:<br />- Heating/Cooling Systems<br />- Roof Quality<br />- Foundation<br />- Interior Outlets<br />- Windows<br />- Chimney<br />- Plumbing
The assessment of an inspector is based on a visual inspection. They won't be taking things within the home apart, but they will use their professional training and expertise to determine if something, like a heating system, for example, is going to fail soon.
How to Choose a Home Inspector
Even if you’re buying a property with cash (lucky you!), you should have a home inspection done. Don’t be fooled by a property that looks great, because you never know what could be lurking behind the walls. I’ve seen people go into financial turmoil because they avoided an inspection, and soon found out they had to replace entire electrical systems and plumbing parts.
If you haven’t watched the movie Money Pit, I highly recommend it. Sure it’s a comedy, but it’s also a very real situation you could end up in without a home inspection being done.
- Research Online:<br />The internet is going to be an important resource when finding a home inspector you can trust. If you’re lucky you might find websites with reviews for various inspectors, and that can help make the decision easier. However, don’t take all of those reviews seriously. Although it sounds like paranoia, some of those reviews could very well be fake. Make sure you do additional screening on each inspector to make sure they are truly the best.
- Ask Your REALTOR®:<br />Your real estate agent will likely be able to recommend several inspectors that they know and trust because they have worked with them in the past. However, there’s a caveat with this as well; you have to make sure you trust your representative in order to trust their recommendation.
Do additional research to make sure they don’t just have a business relationship with the inspector where they receive a kickback for recommendations. It’s best to talk to three different home inspectors before deciding on the one you’re going to hire.
- Ask Friends and Family:<br />If any of your friends family or even neighbours have recently bought a place, ask them for referrals! At least one or two will likely have someone that they had a wonderful experience with. And just like with the other options for finding an inspector, you should do additional research as well.
All of this work to find someone you can trust might seem like a lot, but think about the consequences of not doing so. What if the home was a “lemon”, and ran your savings dry with necessary repairs? It is worth the time and energy to find someone who is going to do an honest and thorough inspection.
Questions to Ask
Once you meet with a REALTOR® you’re thinking about hiring, take time to ask them some questions. This will give you a chance to get to know them and their professional background, which can mean weeding out those that aren’t suitable for the job.
- What professional organization are you a part of?<br />If you're dealing with a reputable inspector, they'll be glad to give you this information. They should also be able to explain how they came to be a part of this organization by passing certain requirements.
- What experience do you have?<br />Trustworthy inspectors will have many years of experience with this type of work. They should know basic building codes, but also have an eye for detail. They should also have a current license.
- What do you look at during the inspection?<br />Inspectors only look at things that can be seen, so don't expect them to take apart your HVAC unit to make sure it's in good shape. They should answer this question with an electrical box, water heater, furnace, roof, foundation, attic, basement and any other place that is visible in the home.
- How long does it take?<br />If they tell you they do quick inspections, then move on. It's important that they take their time, so 2-4 hours for a single-family space. If you have a larger home, then it should take longer.
- Can I come with you?<br />Do not hire someone who tells you "no". They should be 100% okay with you attending the entire inspection. And during that, they should explain to you what you're looking at so you familiarize yourself with your home. If you can’t make it to the inspection, then wait to have it done. You should be present for at least 30 minutes, not only so you learn more about your home, but to ensure your inspector is doing a good job.
- When will I receive my inspection report?<br />Most inspectors will give you your report right at the house as soon as they are finished, but it’s important to ask just to make sure you know what you’re getting into.
Safeguarding Yourself From a Bad Inspector
By doing your research, making sure the inspector is licensed and asking those questions above, you should be able to protect yourself from a bad inspector. After all, the answers to those questions will tell you whether or not they are honest, hard-working, thorough and reliable. Fortunately, there are a few other things you can do to protect yourself if you really want to find someone you can trust.
Avoid Someone Who Wants to do Repairs
One major red flag to look out for is an inspector who offers to help you with repairs or upgrades. This creates a big conflict of interest because you never know if they are lying to make more money. And while they might be able to do these things, their sole focus should be on giving you an accurate and thorough inspection.
Read a Sample Inspection
By reading through a sample report you'll become more familiar with what they include and how long they should be. Problems should be easily displayed and highlighted, and information should be clear. Most inspectors offer sample reports to their clients as well, so this is something to ask for when interviewing different people.
Below you will find a few sample reports provided by Calgary's most preferred and helpful home inspectors. Be sure to contact them for further questions regarding their services.
- C.H.I. Home Inspections:<br />Locally owned and operated inspection service where you are dealing with the owner of the business one-to-one. Cliff provides great service and makes sure to explain his report in great detail. Click to download sample report <a href="https://www.joesamson.com/userFiles/840/image/blog/Inspection_123__Sample_Drive_SE_416595.pdf" target="_blank">HERE</a>.
- Mr. Home Inspection Services:<br />Uses the latest technology and thermal imaging inspection equipment to guarantee a thorough analysis. Mr. Home Inspections is well known to take his time to discuss any issues found and whether they need any further attention. Click to download sample report <a href="https://www.joesamson.com/userFiles/840/image/blog/sample_home_inspection_report.pdf" target="_blank">HERE</a>.
- Odds on Home Inspection:<br />Provides a 135 point home inspection report. They are so sure about their quality of work that they are more than happy to provide their customers with a 100% money back guarantee. Click to download sample report <a href="https://www.joesamson.com/userFiles/840/image/blog/1234_Mock_Street.pdf" target="_blank">HERE</a>.
Find out if Re-Inspections are Included
If a problem is found in the home, and the homeowner repairs it, the inspector may offer to come by and re-inspect it. This is not included with all professionals, but it is something that the majority will offer as a free service.
Avoid Unbelievable Offers
If an inspector talks a lot about what they can do for very little money, they may be just telling you what you want to hear. It’s important to make sure the inspector has the proper credentials, like a licence that’s still active and experience in this field. They should also be licenced so you are fully protected. Last, but not least, their pricing should be in line with what other inspectors in Calgary or in your city charge.
Another aspect of an unbelievable offer is an inspector who tells you that everything in the home is perfect. Even new homes aren’t perfect, so don’t believe this. Every home has problems, even if they are small and can easily be repaired.
Hiring a Trustworthy Professional
Qualified home inspectors should not miss anything (like a major repair issue) while they are working because of how thorough they are. This can help you avoid those nightmare situations where you end up in a "money pit", and will ensure you end up in a home that you can feel comfortable in. Nobody wants to invest in something that will suck up all their money, and a qualified inspector can be a big part of making sure that happens.
Investing in a Home Without Worries
Most home buyers are not aware of what to look for when they are hiring someone to inspect their next investment. By taking the time to use the tips above, you’ll be one step ahead! You’ll end up finding someone that you can trust, and that will give you a thorough report you can use to determine whether or not your next home purchase is worth it.
You only know as much about the home as your inspector tells you, so do your homework to make sure they’ll tell you everything.
Resources:
<a href="https://loans.usnews.com/questions-to-ask-when-choosing-a-home-inspector">https://loans.usnews.com/questions-to-ask-when-choosing-a-home-inspector</a>
<a href="http://www.bankrate.com/brm/news/real-estate/home-inspectors1.asp">http://www.bankrate.com/brm/news/real-estate/home-inspectors1.asp</a>
<a href="http://homebuying.about.com/od/homeshopping/qt/hirehomeinspect.htm">http://homebuying.about.com/od/homeshopping/qt/hirehomeinspect.htm</a>
2015-05-28T17:39:00-07:002019-01-17T10:36:13-07:00Joe Samsontag:joesamson.com,2012-09-20:3619What Type of Car Should a Real Estate Agent Drive?<img style="display: block; margin-left: auto; margin-right: auto;" src="/userFiles/840/image/blog/real-estate-agent-car2.jpg" alt="Real Estate Agent's Car" width="1200" height="588" />
We’ve all heard the quote “dress for the career that you want”, but should it apply to the vehicle you drive as well? One of the most frequent arguments real estate agents here is whether or not they should drive a nice car. Some of these debates get quite heated online, with agents from all sides stating why they feel nice cars are or are not beneficial.
One common reason why agents say they should drive nice cars so that it projects the image of success. On the flip side, some agents are dedicated to driving budget cars so their clients feel they can relate to them. But in reality, the answer really depends on the experiences the agent actually has on the job.
In most cases, the vehicle that an agent chooses really just depends on their overall success and how much they have to spend. This is why it's not surprising that high-earning agents are 172% more likely to purchase and drive a luxury car rather than something more budget-friendly. And when it comes to agents who earn the least, they are 282% more likely to drive something like a minivan.
For some agents finding a car is as simple as choosing what they like, but for others, they take many more factors into consideration. What side of the divide do you fall on? Let’s take a look at why people feel one is right over the other, and that may help you see the views of others in this industry.
The Argument for Luxury Cars
This business is very image-oriented in my opinion and you attract what you project, said - David Fresquez
I have a friend here in Atlanta who drives his Ferrari to see clients. He sold over $143 million last year.” - Greg Lyles <br />The quotes above are just a couple from a discussion on "Raise the Bar in Real Estate", which is a Facebook group for agents in the field. And they by far were not the only ones who felt this way, with many other agents and clients agreeing with them.
- Projecting Success<br />The argument for individuals on this side is pretty easy to see, even if you don’t necessarily agree. They simply feel that if you want clients to think you’re successful and can help them, you have to show that you’re successful enough to own a nice car. Of course “nice” has a different meaning to everyone, so for some, this could be a fully loaded Lexus, while for others it could mean a Lamborghini.
<br />However, a lot of agents say that they are “pro-luxury”, but that it’s important to find a balance with what you purchase. This means choosing something that is sleek and nice, but not obnoxious. “I think I’m going to get an Acura next. [it’s a] Good mix of successful, but not overpaid” said Dawn Brenengen.
- Shows You’re Good At What You Do<br />Agents who drive a nice car want to project a classy, successful image to their clients, so they choose the style and brand they feel will accomplish that. One of their biggest arguments is that a nice car gives the client confidence that they do their job well, so why wouldn't they trust them to sell or buy their home?
- Avoid Disappointing Specific Clients<br />It’s true that image is important in this field, and everything from attire to vehicles can play a role in what the client thinks. In fact, one commenter online stated that they lost out on a deal because the client said their vehicle was “too dumpy” to drive customers in. Ouch! That just goes to show that individuals who vote for luxury do have a point.
Now that you’ve looked at things from the “luxury car supporter” perspective, let’s look at the flip side: the people who support budget cars.
The Argument for Budget Cars
<img style="float: right;" src="/userFiles/840/image/blog/kia-family-car.jpg" alt="" width="300" height="200" />If you’re someone who feels that budget cars are best for most real estate agents, then you’re part of a large group of people. There are many reasons they feel it’s not worth it to spend a lot on a car, and some of the most common include:
- You’re Still The Same Agent<br />It’s true that even if you drive the nicest car out there, you could still be a really bad real estate agent. That’s why some professionals feel they shouldn’t be judged by their vehicle, but on the actual work that they do for their client. They feel that if a client is going to judge them based on their vehicle, they must not have been the right fit for their service anyway.
- Puts Client At Ease<br />A lot of agents also say that driving regular cars that most everyday people have really helped put the client at ease. It helps them relate, and for most people, that’s something they take very seriously.
- Avoid Losing Money<br />Another point to consider is that some clients will determine how much money they are willing to spend when they see the car that the person their working with drives up in. Brendan Clemmens, who posted on the Facebook group discussion, said that sometimes people think just because an agent is driving a nice car, they deserve to get a discount because they clearly don’t need the money.
- Some People Don’t Care<br />There’s a lot of truth to this point because a lot of clients have absolutely no opinion about the car that their agent drives. They simply want them to contact them regularly, help them in a comprehensive manner and have a successful transaction. The last thing on their mind is the make and model that the agent shows up in, so why should they spend extra on a luxury vehicle?
The “It Depends On My Field” Argument
- Luxury VS. Budget<br />For many real estate agents, the vehicle they purchase is completely dependent on the type of clients they work with. If they are mainly focused on high-end luxury real estate, then they choose luxury vehicles that clients are more likely to related to. If they are focused on helping distressed clients find affordable deals, then they are more likely to choose budget vehicles without the name brand.
It’s easy to see why this works, especially when you look at things as a client. How would you feel if you were looking at a foreclosure that you could barely afford when your agent came driving up in a brand new Mercedes? While this might not bother some people, it could certainly rub others the wrong way.
The same could be said for luxury clients as well, especially since many are very particular about the image they want to portray. Some agents said their upper-bracket clients feel they have more credibility because they drive a luxury vehicle, making it vital to their career as a whole.
- Location of Sale<br /> <img style="float: right;" src="/userFiles/840/image/blog/Truck.jpg" alt="" width="300" height="188" />And one situation that you might not think about until you're in it is the area where you live or are making a deal. Brandon Kekich, who services clients in Detroit, said: “Not as often as we used to, but as recently as two years ago we have lost high $$$$ listings because we did not pull up in a domestic [vehicle].” And Jeff Boyd said, “I’ve seen a Bentley roll up to a bread-and-butter house in Lake Forest and the clients were off-put, but cruising around Newport Coast or Beverly Hills it would be expected.”
There will always be clients who really don’t care whether the agent they are working with shows up in an Escalade or on a bicycle, but there seem to be more who really do take it to heart. That’s why most professionals in this field take their driving choice so seriously, and carefully consider what they invest in.
The “I Drive What I Drive” Argument
When it comes to the rest of the real estate agents out there, they simply drive what they drive! Sure higher-paid agents might show up in a BMW or a newly leased luxury vehicle every other month, but that’s generally just because they have the means to do so, and they love what they drive. There are also agents who choose hybrids, electric vehicles and bikes because they are environmentally friendly.
However, just because people in this camp want to purchase what they like doesn’t mean they don’t think about their career as well. The only difference is they aren’t making their decision based on what the client thinks, but how they can service them better.
For example, they might choose the fact that one car gets better gas mileage, which is great because they are willing to drive long and far to meet their clients. They could also choose based on a spacious interior, which comes in handy when they’re driving clients around potential homes to purchase.
Final Thoughts: How Do You Feel?
It’s unfortunate that even the most helpful and all-around great real estate agent can be judged by just the car that they drive, but that’s the world we live in today. If the agent chooses to adapt to that, they may end up seeing more success even though they changed nothing about their actual service. This isn’t always the case, but it certainly can happen with many types of clients.
Is changing your car something you would do as an agent? Or as a client, would you judge the person you hired based on their choice of vehicle? There are good points on each side, but ultimately there’s no “perfect answer”. Simply said, if you want to have a successful career, you should be good at what you do. This means providing clients with great service and being there to help them with their needs.
However, keep in mind that there’s a lot said for keeping a clean car. Take the time to go to the car wash and vacuum out your vehicle before you show up for an appointment with a client. This is especially crucial if you are going to drive them around and want to give them a good first impression. Other than that, all you can do is be hard-working, there for them and ready to take on any work that needs to be done!
Resources:
<a href="http://www.marketleader.com/blog/2014/01/29/a-portrait-of-the-agent-realtor-habit-survey/">http://www.marketleader.com/blog/2014/01/29/a-portrait-of-the-agent-realtor-habit-survey</a>
<a href="http://www.buzzbuzzhome.com/chat/general-chit-chat/205/a-realtors-vehicle">http://www.buzzbuzzhome.com/chat/general-chit-chat/205/a-realtors-vehicle</a>
<a href="https://www.inman.com/2015/05/12/should-real-estate-agents-drive-fancy-cars/">https://www.inman.com/2015/05/12/should-real-estate-agents-drive-fancy-cars/</a>
2015-05-21T17:48:00-07:002019-01-17T10:55:01-07:00Joe Samsontag:joesamson.com,2012-09-20:3620Calgary International Children’s Festival<img src="/userFiles/840/image/blog/The-Calgary-International-Childrens-Festival.png" alt="The Calgary International Children's Festival" width="1200" height="832" /><br />
Looking for something fun to do with your kids this weekend? <a href="http://calgarykidsfest.ca/" target="_blank">The Calgary International Children's Festival</a> will be on May 20-23, so don't miss out! This is something families in the area look forward to all year, and it's sure to be something you’ll have a great time at. It’s a wonderful way to help your kids learn more about theatre and get involved with local groups.
If you've never been to this festival before, then you're in for a treat. There are hundreds of outdoor activities for kids to take part in, from face painting and colouring to interactive activities and plays. Kids of all ages and even adults can find something to do while they’re here. Some of the top attractions to look out for are:
- Alice in Wonderland - Located in the <a href="https://www.theatrecalgary.com/tickets/seating-map" target="_blank">Max Bell Theatre</a>, this is 55 minutes in length and perfect for kids ages 6-11.
- Bam - This is a comedic-drum-playing-group that will be at the <a href="https://artscommons.ca/rentals/venues/jack-singer-concert-hall/" target="_blank">Jack Singer Concert Hall</a> on a limited schedule. This is something for all ages, so it's perfect for families.
- Ryan’s Magic Mashup - Perfect for ages 7-11, this magic show is interactive and full of really fun magic tricks. It will be located in the Jack Singer Lobby and is around 50 minutes in length.
- Squonk - Squonk is a show that uses inflatables, wind power and music to capture your attention. It's perfect for ages 6 and up and will be located at the <a href="http://www.calgary.ca/CSPS/Parks/Pages/Locations/Downtown-parks/Olympic-Plaza.aspx" target="_blank">Olympic Plaza</a>.
Other shows, concerts and entertainers scheduled to attend include: The Bow Valley Fiddlers, Roving Characters, KORE, Wild Sings, Caleb Cameron, Wild Kratts Live and more.
If you're thinking about attending, then hours Wednesday-Friday are 9:30 am to 3:00 pm. If you're attending Saturday, then hours will be from 9:30 am to 5:00 pm. Make sure you check the weather forecast in the morning before you go to determine what you need to bring with you. Sunscreen and hats are both items that are worth bringing along to protect you from the sun. You can also bring your own water and snacks as you please.
Where is this event?
It’s located in <a href="https://www.joesamson.com/calgary-city-centre/downtown-calgary/" title="View Condos in Downtown Calgary">Downtown Calgary</a>, specifically, you'll find the venues in the Arts Commons Hall and outside of the Olympic Plaza.
Where can you park?
If you're driving, then you can park in the underground parking lot at Arts Commons, or at the different parking lots around the hall (like Tower Parkade, Lot 19, City Hall Parkade or Telus Convention Centre Parkade).
Where do you get tickets?
The Box Office at Arts Commons is where you’ll need to go to get tickets. It’s open throughout the week and weekend.
Can you get involved?
Yes! This festival is always looking for volunteers, and if you’re someone who wants to help, then visit <a href="https://www.volgistics.com/ex/portal.dll/ap?ap=872252866" target="_blank">https://www.volgistics.com/ex/portal.dll/ap?ap=872252866</a> . Even students who are over the age of 14 can help, so it might be a great way to do something for the community with your entire family.2015-05-19T17:53:00-07:002018-03-12T13:16:15-07:00Joe Samsontag:joesamson.com,2012-09-20:3621How to be an Amazing REALTOR® - Keep Your Clients for Life!<img style="display: block; margin-left: auto; margin-right: auto;" src="/userFiles/840/image/blog/amazing_realtor.jpg" alt="Amazing Real Estate Agent" width="1200" height="800" />
When it comes to being <a href="https://www.joesamson.com/about/" title="Joe Samson & Associates Real Estate Team">a successful real estate agent</a>, retaining clients is essential. And that's not only because over 80% are likely to use their service again in the future, but also because they may recommend their friends and family their way. In fact, 92% of individuals looking to buy or sell will take advantage of recommendations over all else, so the power of the past client is incredibly important.
Unfortunately, as the real estate climate changes, it can be difficult to not only keep clients but also attract them to do business with you. There’s a lot of competition, and setting yourself apart is more important than ever. Ask yourself this: Are you doing all you need to do to keep your clients, or could you be doing more?
Some real estate agents aren’t open to the idea of changing, saying their methods are working just fine. They’d rather stick with what they know, and if that’s how they want to do things, there’s nothing wrong with that.
However, if you want to get ahead and improve the way you interact with clients, there are a lot of changes you may be able to implement. These may help you move forward and to better serve home buyers and sellers rather than hitting a plateau.
How important is it for you to have repeat clients? This should be one of your top priorities no matter what type of real estate you sell. According to a <a href="https://www.contactually.com/blog/real-estate-statistics-for-2017" target="_blank">research</a> done by Sabel Harris (Senior Manager at Contactually), that’s because around 25% of real estate agents actually generate over HALF their business from repeat clients!
If you want to benefit from this just as so many other agents do, take advantage of the tips below. They’ll help you nurture and grow your business relationships so you can keep those clients on your team.
Create a Cohesive Team
You work with a smart, effective and experienced team of agents that you know you can trust. They help you manage your clients on a regular basis, but even with their help, you’re not seeing the sales that you should. What’s going on? What most agents don’t realize when they work with a team of other agents is that their service can fall by the wayside as a result.
This isn’t to say you’re not being kind and welcoming to your clients, but you may be confusing them as they filter through the different individuals you’re working with. To help clients buy or sell properties, they need to be on the same page as you and the rest of your team.
Take time to create a bonding real estate team that effectively communicates not only with the client, but with each other. Make sure every client understands the roles on your team and that if they are being referred to someone after they meet with you, they know who they are working with. The last thing you want is for a client to love working with you, only to be tossed to someone else without seeing you ever again.
A HUGE part of retaining clients is making them feel like they are a part of your professional family. Welcome them with open arms, get to know them and have them get to know the agents you work with. This will create stronger connections so they are more likely to stay with you and come back to you.
Don’t Over-Inflate Your Value
Ouch! Does this tip hurt a little? It's a delicate subject for agents to discuss, but it’s one that’s incredibly important. You should be offering great value for the commision that you charge, and that should be crystal clear to your clients. And when it comes to value, it should be more than just helping them negotiate a good rate for their next home (although this in itself is very valuable to the client).
To the customer, true value for the price they’re paying means hiring someone who knows their field. Prove to them you know what you're talking about by updating them on real estate news, talking to them about market conditions or telling them why homes in the area are priced a certain way. Show off by presenting facts, information and statistics, but make sure you do it in a friendly way (don’t be arrogant).
If you aren’t currently doing this, try it out. When your client feels that you are an expert in real estate that you can trust, this will ultimately strengthen your relationship. They want to know they can turn to you for everything they need to know. And if you want to keep up-to-date ahead of time, subscribe to newsletters for real estate news.
Update Your Website
An average of 92% of home buyers look online while they are searching for a home to purchase, and 43% actually find the home they end up purchasing online. Therefore you need to have a website that doesn’t look like it’s from the year 2000. If prospective or even current clients can’t utilize your website in the way they need to, they’re likely to turn to an agent that’s embracing the internet more effectively.
Here’s what you need to do:<br />- Make a website or have one created<br />- UPDATE your listings regularly<br />- Include pictures in listings, possibly videos as well<br />- Write in-depth descriptions<br />- Update your <a href="https://www.joesamson.com/blog" title="Calgary Real Estate Blog/News">Real Estate Blog</a>, even if just weekly<br />- Offer e-mail newsletters
If you do all of these things, your clients will stick with you knowing they can turn to your website when they want to browse homes.
Care About Your Clients
In order for any potential client to stick with you, they need to know you care about them, says Marty Green a top Real Estate Broker/Manager in <a href="http://realestatecareermentor.com/competence-and-care/" target="_blank" rel="nofollow">his blog</a>. Marty explains it’s crucial to remember to “C.A.R.E - Contact And Retain Everyone”. It’s so important to show your clients that you appreciate them because you do! You wouldn’t be in business without them, and you should be proud to show them how much you enjoy having them around.
You need to communicate with your clients regularly, but this shouldn’t be bothersome to them. Send a quick e-mail, make a phone call or send out a flyer. The goal is to have them know that you’re thinking about them and are there for them if they do need anything. If they feel important, you are much more likely to earn their loyalty and keep them coming to you well into the future.
This is similar to those who show brand loyalty because they know they’re going to get a good product, even if the price is more expensive. If the client knows you’re the best real estate agent for them, they’ll turn to you no matter what. Give them reasons to stay, not reasons to leave.
Don’t Take On Too Many Clients
Too many clients certainly isn't a bad problem to have, but it's one that you need to handle in the proper manner. That's because if you are overwhelmed, you're not going to give any of your clients the attention they need or deserve. This can send them off to other agents within days, and result in them not giving you a second chance.
Avoid this downward spiral before it gets that bad by recognizing your limits. Honestly ask yourself how many clients can you comfortably handle. This means giving them each individual attention, with quick response times and regular visits to make sure they feel valued. The thought here is that you don’t want to compromise the quality service that you’re known for, so how many people can you take on while maintaining that?
Once you know your limit, refer excess clients to agents that you trust, and keep your focus on building a quality team around you. Sure this might mean missing out on a few clients now, but what would happen if you took them on and ended up upsetting them because of your lacklustre service? You don't want this, and neither does your reputation.
If you keep the focus on building a business team, you'll eventually be able to grow your business and keep all clients within your workgroup. It’s worth the time and effort to do this slowly because ultimately it can mean more money and more success.
Keep E-mails Fast and Efficient
When clients e-mail you, avoid sending them an auto-response. James Kimmons who is a Real Estate Business Expert suggest in <a href="http://realestate.about.com/od/realestatewebsites/tp/email_mistakes.htm" target="_blank" rel="nofollow">his post</a> that if you really can't take a few minutes to write out a message, then let them know you'll get back to them soon because you want to help them in the most comprehensive manner. If you do this as soon as you receive messages, your client will know they are a priority for you.
When you do respond to messages, keep e-mails short to medium in size! Don't write a book that they'll have to dissect paragraph for paragraph.
Keep Buyers Motivated
The dream for every buyer and agent is to find a home, make an offer and have it accepted, all without any problems. Unfortunately, this rarely happens today, as real estate is a constantly changing market. A lot of buyers end up having to walk away from homes that they were ready to live in, which can be disappointing. It’s crucial for you to be there for them during this time so they know there is hope.
One great way to overcome this type of slump is to make sure the client LOVES the home when they are about to make an offer. If they do and know they want it, then make an offer that they are comfortable with. If they do end up being beat by someone else, let them know there are many other homes that are suitable for them.
It can be a struggle dealing with emotions when offers aren't accepted, but it's all part of the <a href="https://www.joesamson.com/blog/are-you-ready-to-buy-a-home/" title="Read: Are You Ready to Buy a Home? [INFOGRAPHIC]">real estate buying process</a>. All you can do is keep them motivated with new choices, and make sure you're giving them honest information about what they can expect.
Remember, the average number of homes each person looks at is around 10, so let them know it’s okay to search. Don’t promise them everything they want, or else they will likely jump ship to someone who gives them realistic expectations.
Don’t Appear Too Eager
There’s nothing worse than walking into a store and being pushed to purchase a product because the salesman is desperate. Do you come off like this when clients come to you? Of course, you need to work to support yourself, but you shouldn't ever come across as desperate. This will cause you to lose business simply because the client won't be sure you're being genuine with them.
Change your perspective from about you to about the client and they'll notice. Show them that you're passionate about helping them, and take into account their needs and wants. Serve them in the most comprehensive manner that you can, and you'll find that success follows you.
Don’t Falsify Information
Honesty in real estate is mandatory. This doesn't only mean telling the client the honest truth, but it also means not hiding information from them. Trust me, the last thing you want is for your client to learn you were either lying or omitting information from them, just because they did a simple online search. Even if the truth isn’t pleasant, it’s important.
Another tip for being honest is to let the client know when you’re joking. Otherwise, you could say something they take seriously, or even worse, you could offend them.
Don’t Ignore Even Small Needs
Never ignore what your clients need! Even if they are interested in a piece of information about homes in the area, accommodate them. Remember this: if you don’t do this, a different agent will. Offer the type of service that you would want when you were reaching out to a professional. Your client will appreciate the fact that you’re there to help.
Even if a client isn’t looking to buy or sell right now doesn’t mean they won’t be in the future. Keep yourself in good graces with every person you come in contact with and it will pay off in the future.
Show Overall Gratitude and Respect
A lot of people feel neglected by their real estate agents, but if you utilize these tips, that won’t be the service that you present.
Show them the high level of quality that you offer and they’ll likely become loyal to you for all their real estate transactions.2015-05-14T17:55:00-07:002018-03-12T13:33:01-07:00Joe Samsontag:joesamson.com,2012-09-20:3622Finding a Super REALTOR® <img style="display: block; margin-left: auto; margin-right: auto;" src="/userFiles/840/image/blog/Finding-a-super-realtor.jpg" alt="Finding a Super Realtor" width="1200" height="696" />
There are a lot of horror stories out there of people who have signed with the wrong real estate agents or brokers. Unfortunately, these = can become a reality if you're not careful who you sign with. But, how can you know that you're working with an expert that you can trust? Do you just have to guess? The answer to this question is to do your research, and the first step is learning which type of professional you need to hire.
Brokers, Agents and REALTORS®
A lot of people think that these professionals are the same, but they are not exactly alike. A real estate agent is someone who arranges the sales of real estate for their clients. They are able to negotiate, and can also represent their client, whether they are the buyer or seller, throughout the entire transaction. Real estate agents receive a commision for their services and must be licensed.
Brokers are the professionals that agents work under. They deal with the legal details that are related to real estate deals for both the buyer and the seller. Brokers have to go through a more difficult type of exam in order to become licensed, and they also must have a degree and more experience than typical real estate agents.
Something that is very special and unique about REALTORS® is that they are both brokers and agents! There are actually only around 1 million Realtors all over the world, out of the many millions of people who work in real estate. In order to achieve the designation of a REALTOR®, a person has to become a member of the Canadian Real Estate Association.
Signs of a Trusted Professional
Now that you know what all of the titles mean, it's time to determine what makes a real estate professional truly trustworthy. It's crucial to do your research because if you don't, you could end up not making the right decision. Here are some tips that will make it a lot easier to choose someone that you really enjoy working with.
1. Sharing Information
When working with any type of professional, it's important that they share information with you so that you are educated with what's going on. This is especially important with your real estate professional, as you need them to educate you on all the steps that are involved with buying or selling. They should be willing to answer your questions, give you explanations that make sense and make sure you are well informed throughout the entire process of buying or selling. Their advice is what you base your decisions on, so it should be readily available.
2. Communication
Look for a <a href="https://www.joesamson.com/about/" title="Joe Samson & Associates Real Estate Team">real estate professional</a> who listens to your wants and needs. They should be keeping your best interests in mind because it's your finances that are being used. Tell them what your budget is, what you want out of the transaction and any other details that pertain to the situation. Someone that listens to you is going to be more trustworthy and easier to work with.
3. Dependable
Your agent should show up to appointments on time, and make sure to clearly communicate with you at all times. But, they should also define boundaries and let you know times when they won't be able to take your calls. If they are open and honest with you, then your relationship with being much easier to navigate.2015-04-23T17:59:00-07:002018-02-19T17:24:59-07:00Joe Samsontag:joesamson.com,2012-09-20:3623Signs of Telling When It's Time to Upgrade Your REALTOR®<img style="display: block; margin-left: auto; margin-right: auto;" src="/userFiles/840/image/blog/Finding_a_new_real_estate_agent.jpg" alt="Finding a new real estate agent" width="1200" height="902" />
There are many <a href="https://www.joesamson.com/blog/how-to-be-an-amazing-realtor/" title="Read: How to be an Amazing REALTOR® - Keep Your Clients for Life!">wonderful REALTORS®</a> out there who work hard for their clients and help them with every detail of their transaction, but this type of service isn't always guaranteed.
Unfortunately, among the mix, there could also be some uninspired agents, and they can cause their clients frustration, stress and disappointment. I know it sounds a bit strange reading these words on a real estate agent's blog, but I feel that this isn't a closely guarded industry secret.
Are you in a situation where you are thinking about leaving your REALTOR® for a different one? There are a lot of reasons why people consider doing this same thing, and some of the most common are listed below. Read through them to see how you might relate, but also use them as guidance for hiring the right agent in the future.
The Agent Doesn't Give a Good First Impression
First impressions are important, especially in the world of real estate. Agents have to be friendly, confident and experienced in order to win the trust of their clients. If you've met with an agent and didn't have a good impression of them right away, just imagine the impression that other people will have. This could impede chances of you selling your home, but it could also mean not being able to find one to purchase either.
Another aspect of first impressions is related to the image that the agent has on their website. Do they <a href="https://www.joesamson.com/blog/get-rid-of-it-before-selling-your-home/" title="Read: Get Rid of it... Before Selling Your Home">stage homes</a> so they look more appealing to potential buyers? Do they take the time to make their website user-friendly to visitors?
When an agent doesn't put an honest effort into making their real estate website to <a href="https://www.joesamson.com/idx/search-form/" title="Advanced Calgary MLS Search">easily search homes</a>, this should be considered another red flag. Buyers generally start with online searches to find homes, and if they have a bad impression of a REALTOR'S® website, they likely won't bother to call them for a home they are interested in.
The Agent is a "Smooth Talker"
Agents who tell their clients what they want to hear can spell trouble from the very start. This won't only cause the client stress and frustration, but can also mean a lot of money and time wasted. That's why it's so important to find an agent who is upfront, honest and reliable.
Nobody in this field should tell you "yes" to everything that you ask, and they should be forthright with details about contracts and transactions as well. Even if someone is nice that doesn't mean they are honest, which is why it's crucial to pay close attention to what they are really saying.
Unethical business practices carry serious consequences for the agent, but also for the client. This is why it's so important for anyone who feels uneasy about their agent to leave right away. Some of the biggest signs of dishonesty include:
Trying to talk you out of what you want
Telling you only what you want to hear
Contracts that are poorly written
Making false claims that can't be backed up
When clients leave their real estate agent due to dishonesty, it can leave them with a bad impression of professionals in this field. However, this shouldn't be something to expect with every person in real estate. There are many reputable agents out there who you'll be able to trust and work closely with. Don't be afraid to <a href="https://www.joesamson.com/blog/questions-to-ask-your-agent-when-buying-a-home/" title="Read: Questions to Ask YOUR Agent When Buying a Home">ask questions</a> and to really get to know the agent you're interviewing before you actually hire them.
The Agent is Unprofessional
The right attitude is crucial for real estate agents to have because they are working with the public throughout most of their careers. They should be professional, pulled together, friendly and organized so they give the right impression to everyone they come in contact with. This doesn't only give the client confidence in hiring them, but it gives others the assurance that they are working with a serious professional. Trust is a big part of the relationship between the client and the agent, and that can easily be broken when a bad attitude shows its face.
Most people will generally leave their agent immediately when they are clearly not as professional as they should be. Constantly showing up late, forgetting appointments, acting unfriendly and having a bad attitude are all red flags for clients from the very start. These things show that the agent could lose their cool when working with a difficult buyer, or even that they may miss an opportunity to sell. Clients need to have peace of mind that their agent is cool, calm, collected and up for the job at all times.
The Agent Doesn't Listen
Real estate agents are there to give their clients advice, but they are also there to listen. This ensures they can give the best customer service possible and meet the expectations that the customer has set.
For example, they should ask you up-front what your expectations are, whether that means moving to a nicer neighbourhood or <a href="https://www.joesamson.com/sellers/" title="Sell Your Home">selling your home</a> within a few weeks. Through those questions, they should be able to get to know you better and address any concerns that you might have. Your agent will also be able to assess your wants and give you an idea of whether or not they are realistic.
It's reasonable for clients to expect that their agent will listen to them, get to know them and give them realistic advice. After all, real estate is very personal because of the impact it can have on finances, whether it's with buying or selling. When attentive service doesn't happen, the majority of clients will start looking elsewhere for help with real estate. They'll look for a good agent who knows that listening is the key to providing memorable and effective service to their client.
The Agent Has Another Job
Full-time real estate agents are more in-demand than ever, and that's because they generally offer better service than agents who only do this part-time. Just like it's been said before: "Part-time effort will create partial results, and full-time effort will create full results".
When this is someone's career, they are able to dedicate more hours of the day to help their clients. When agents have another job to do, their attention to their customers is often cut in half, and that could get in the way of efficiently selling or buying. This is a big reason why the majority of clients switch to full-time agents soon after they learn theirs has another career they are committed to.
Some real estate agents are able to do this part-time without sacrificing great customer service, but this is very rarely the case. Generally, their commitment to their other job will get in the way at some point, and their inexperience from not being out on the field all day can mean other potential issues.
And while not everyone will leave their agent because of these reasons specifically, they generally won't hire this person again when they need real estate help in the future.
The Agent Doesn't Respond in a Timely Manner
No client should expect their real estate agent to answer the phone late at night or respond to e-mails immediately unless they were explicitly told the agent would be there 24/7. Most people should simply expect their agents to respond to them in a timely manner, which generally means a couple of hours at the most.
When clients don't get the attention they deserve, like responses to phone calls or e-mails within a reasonable amount of time, that's when they start to think about straying to another agent. This is especially true in situations when a great deal comes on the market and it needs to be acted on immediately. Lack of attention could affect a purchase or sale, meaning significant loss of opportunity to the client.
If your agent hasn't been responding to you in a reasonable amount of time, then it's very easy to see why you'd want to look at other professionals to work with. After all, you likely want to sell or buy as quickly as possible, and you need your agent to help you with the details in order for that to happen. There are others out there who value their clients, and they'll be in contact with you regularly so you always get the attention that you deserve.
The Agent Can't Deal with Unexpected Problems
It would be nice if every transaction in real estate was smooth sailing, but that's very rarely the case. Agents should be continually updating their education so that they can deal with any type of unexpected problem that comes about during different types of transactions.
For example, they should be able to give their client advice on what to do if they don't qualify for the loan that they need. They should also be able to handle problems during the buying or selling process, which could arise when dealing with difficult parties. This is where experience will come into play, but also professionalism and problem-solving capabilities.
When an agent is clearly overwhelmed by issues that come up, the client has every right to want to leave them. The agent is the one who is responsible for putting their client at ease, and if they are causing them stress or frustration, then they should work with someone else. The whole reason people hire agents is for help during this process, and they shouldn't be the ones bearing the burdens of surprise problems on their shoulders.
Finding the Right Agent
Have you ever left a real estate agent to go to another one, or are you considering doing so now? It's important that you don't feel bad about this because you deserve someone who is going to work hard and actually help you. However, before making any rushed decision, I know that everyone always deserves a second a chance. Make sure that whoever you are dealing isn't just having a bad day for a good reason.
Just remember that your expectations should be reasonable, and the agent you work with should be up-front about what you can expect from them. This will ensure that the process goes as smoothly as possible and that you avoid any disappointment down the road. There are great REALTORS® out there to help you, and once you find one, you'll be able to rely on them for all of the real estate services you need!
To My Dear Colleagues
If you are a colleague of mine (even if you are located halfway across the world) and you have recognized any of the things above that you are guilty of - please do your past and future clients a favour and put their best interests above all.
Raise the bar you've set for yourself and be proud of what you do. After all, being a real estate agent is a highly noble occupation since it's our responsibility to help buyers and sellers to orchestrate one of the biggest decisions of their lives.2015-04-09T18:01:00-07:002018-02-19T17:29:23-07:00Joe Samsontag:joesamson.com,2012-09-20:3624Ridiculous Reasons to Overprice a Home<img style="display: block; margin-left: auto; margin-right: auto;" title="Ridiculous Reason to Overpricve a Home" src="/userFiles/840/image/blog/ridiculous_reason_to_overpricve_a_home_600.png" alt="Ridiculous Reason to Overpricve a Home" width="600" height="426" />
When you think of spending a lot of money on a home, you likely dream of generous master bedrooms, a beautiful kitchen, luxurious bathrooms and maybe even a pool. And while this is the case with many homes, it's certainly not the case with them all.
There are some homes that sellers overprice considerably, and not because they have made a mistake. They are fully aware that they are pricing their home high and the reasons why vary from one seller to the next.
When you see the ridiculous reasons why sellers hike up the prices on their homes, you'll be left in amazement. After all, some reasons just make it seem like sellers don't even want their home to be taken off the market!
Take a minute to read about these overpriced properties; you'll be thoroughly entertained and may even learn a few things NOT to do if you decide to sell a home in the future.
Sweet Memories
Everyone gets an emotional attachment to their home, especially if it's a place where they raised children or went through a lot of lifestyle changes. I know I have a lot of great memories in mine and cherish those on a regular basis.Of course, those memories are important to you, but they aren't necessarily important to the buyer. Sellers who hike up the price of their home just because they have an emotional attachment generally don't sell quickly or end up lowering their price down the road.
If you're putting a price on your memories, then you may want to re-think things. This could end up costing you more in the long run when you sit on the market unable to sell.
A Celebrity Used to Live Here
This is a tricky one because sometimes a celebrity owner can absolutely mean getting more money for the home. BUT, that's not always the case. It really depends on the celebrity who lived in it and how long ago that was. And, of course, it also depends on what the home looks like and where it's at. Most people won't want to live in a run-down house if someone they've never heard of lived in it 30 years ago.
Pride of Ownership
Some owners feel entitled to a certain amount of money for their homes and are insulted when they are offered anything less. Unfortunately this makes the entire sales process extremely emotional, and generally ends up upsetting the seller, buyer and even the real estate agent! In fact, having too much pride in your home can actually get in your way of selling it. Buyers don't want to work with someone who isn't flexible or willing to negotiate.
It's good to have pride in your home, but it's also important to have a realistic view of how much you'll receive for it when it comes time to sell. In order to have the best chances of getting it off the market, try to disconnect from the emotional attachment you have to it. View the house from a buyer's perspective and you'll have a whole new point of view.
DIY Home Evaluation Research
"I went on X website and it told me my home is worth a LOT more than you're telling me it's worth." That is something a lot of agents hear every day (including myself), and a big reason why sellers think they should sell at a higher price point. The truth is, those websites don't consider all of the small details that go into pricing a home. You know who does do that? A real estate agent! Their job is to fairly price the home so it sits on the market for the shortest amount of time possible.
The House Around the Block Sold for the Same Price!
At any moment there are generally several homes in every neighbourhood up for sale. It's extremely important to look and see what those homes are going for price-wise, but you shouldn't base your selling price off of those. Your neighbours could have homes that sold for more money because of upgrades, square footage, more bedrooms, a better layout or many other reasons.
Talk with your agent about homes in your neighbourhood and what makes them different from yours so you can price accordingly. Every home is unique, and you can't assume your home is worth as much as another in your area. It's also important to keep in mind the market fluctuations can affect your selling price, and your agent should consider that when helping you.
The Last Agent I Met With Gave Me a Higher Price
Agents realize that you're going to meet with several different people choose who you sell your home with, and it's actually something I encourage you to do. After all, you want to find the person who is the best fit for selling your home and who will work hard for you. What's important to know is that some agents are simply going to tell you what you want to hear so you are more likely to hire them. This is really unfortunate because it sets you up for likely failure to sell.
You need an agent who is going, to be honest, and realistically set your expectations. Overall this will be the more reliable choice, and that can mean selling your home more easily than you would otherwise.
I Have Great Neighbours
How close are you to your neighbours? Most people who have great relationships with theirs think that this is a huge selling point for their homes. After all, who wouldn't want a neighbour they could rely on for house sitting, the occasional dinner or getting the mail while they are out of town? While this could certainly be something that attracts some buyers, it's not a reason to raise the price of your home. That's because most buyers simply want to live in a good, safe area.
Most purchasers generally aren't necessarily looking to have close relationships with those who live next door to them, and that could potentially raise some problems for both households involved. It's crucial to keep in mind that just because you're friends with the people around you doesn't mean that new buyers will be as well. Very few people will pay out a premium to know they have good neighbours, especially since people move and not all personalities mix well.
What buyers today do pay more for is safer, more beautiful neighbourhoods, not those that only come with a couple of nice people next door. They want security in knowing that their purchase will be an investment that will increase in value because the entire neighbourhood is desirable as a whole.
I Want to Retire
Are you ready to take out your retirement funds and finally travel the world? Or maybe you're just going to move to a comfortable little home that you can live the rest of your life in? When sellers are ready to retire, they are normally extremely motivated to get the keys into the hands of a new owner. Unfortunately, this motivation can get in the way of that happening when the seller <a href="https://www.joesamson.com/blog/your-real-estate-is-going-to-pay-for-your-retirement/" title="Read: Your Real Estate is Going to Pay for Your Retirement">calculates how much money they'll need for a cushioned retirement</a>.
Any seller should know that they can't overprice their home just because they need the cash to retire. Buyers want a good deal and won't overpay just to make the current owner's bank account ready for their next stage in life. Unfortunately, if the seller doesn't realize this quickly, they could hinder their own plans by not selling their home in a timely manner.
I Made Repairs/Upgrades and Deserve a Premium for Them
Doing <a href="https://www.joesamson.com/blog/making-sure-renovations-pay/" title="Read: Making Sure Renovations Pay ">upgrades and repairs to a home</a> is incredibly important, and can absolutely make all the difference with how much you can sell your home for. However, the type of work you did and where it was done is what's key to getting more for your asking price.
For example, if you made a really cute kid's room, it may not be something that buyers really care about, especially if they don't have kids. But, if you took the time to have your kitchen renovated and your bathrooms upgraded, then you will likely get more money for that work.
Another thing to consider is who did the work. Most buyers want to see that a licensed contractor did it, as that ensures that any construction was done up to code, especially if it included plumbing or electrical work.
If the Agent Works Harder, the Home Will Sell at Any Price
Almost every agent who has been selling homes for a while has heard a client say "if you work harder then I can sell my home at the price that I want to". Unfortunately, this is not at all reality, because even the best agent in the world can't sell a home that's priced too high for no apparent reason.
Agents do all that they can to sell homes as soon as they are hired, and that's because they genuinely want to get it off the market. There's no "hard work" they can do to make buyers want to purchase a place that is obviously not worth the asking price.
Any seller that thinks an agent can work magic to sell their home is going to set themselves up for frustration and disappointment. They likely won't be able to sell their home for a while and may have to go through several agents before they realize their error.
Thoughts to Consider
Have you ever come across a home that was clearly overpriced? If you haven't but are about to search for homes, it's very likely that you'll see several. And, if you end up really liking one that you know is priced too high, make sure you have a reliable real estate agent by your side. They'll be able to give you honest advice about what you can expect and whether or not the home is worth pursuing.
Are you thinking of <a href="https://www.joesamson.com/sellers/" title="Sell Your Home">selling a home</a>? If you ever decide to sell your place the future, you'll know exactly what you should avoid so you don't overprice. Of course, you don't want to price your home too low, either, which is why your agent is going to be such a useful resource!2015-03-19T18:05:00-07:002019-01-17T10:48:53-07:00Joe Samsontag:joesamson.com,2012-09-20:3625Calgary's Most Expensive Neighbourhoods<img style="float: right;" title="Calgary Luxury Home" src="/userFiles/840/image/blog/expensive_neighbourhoods//calgary_luxury_home_400.png" alt="Calgary Luxury Home" width="400" height="267" />Calgary is a wonderful place for Canadians to live, not only because of the close proximity to the Rocky Mountains but also because of the gorgeous neighbourhoods that are available to choose from.
What's even better is that Calgary is home to some of the wealthiest neighbourhoods in the country, with <a href="https://www.joesamson.com/calgary-luxury-homes/" title="Search LUXURY HOMES for sale in Calgary">luxury homes in Calgary</a> that are meant only for those with large pocketbooks.
In a recent study, Canadian Business and Environics Analytics had teamed up to identify Canada's <a href="http://www.canadianbusiness.com/lists-and-rankings/richest-neighbourhoods/alberta-2014/">richest neighbourhoods</a> among which Calgary had several communities to put on the podium. Whether you're thinking about moving into a new neighbourhood or you just want to go browse houses to dream about living in, these neighbourhoods are worth learning more about. Those listed below are the top 5, and they have a lot to offer for anyone who is able to afford their high price tags.<img style="display: block; margin-left: auto; margin-right: auto;" title="Calgary Richest Neighbourhoods" src="/userFiles/840/image/blog/expensive_neighbourhoods//calgary_richest_neighbourhoods_1045.png" alt="Calgary Richest Neighbourhoods" width="588" height="706" />
1. Britannia
<img style="display: block; margin-left: auto; margin-right: auto;" title="Community of Britannia, Calgary" src="/userFiles/840/image/blog/expensive_neighbourhoods//community_of_britannia_calgary_588.jpg" alt="Community of Britannia, Calgary" width="588" height="364" />
<a href="https://www.joesamson.com/calgary-city-centre/britannia/" title="View Homes in Britannia">Britannia</a> was built in 1952 and was designed to be an upscale community for individuals with a higher net worth. The intention to make this a high-end community was obvious from the start, as lots were selling for $5,000 compared to the average $250 price tag for lots in Calgary.
The average income of households in this area is almost $1.5 million, and the average household net worth is over a whopping $7 million. If you're thinking about moving here, then prepare to pay the average $1.5 million selling price. In relation to other areas across Canada, it's the 16th highest in household net worth and has the highest average household income in the country.
2. Bel-Aire & Mayfair
<img style="display: block; margin-left: auto; margin-right: auto;" title="Community of Bel Aire & Mayfair, Calgary" src="/userFiles/840/image/blog/expensive_neighbourhoods//community_of_mayfair_calgary_790_03.jpg" alt="Community of Bel Aire & Mayfair, Calgary" width="589" height="364" />
<a href="https://www.joesamson.com/calgary-city-centre/bel-aire/" title="View Homes in Bel-Aire">Bel-Aire</a> & <a href="https://www.joesamson.com/calgary-city-centre/mayfair/" title="View Homes in Mayfair">Mayfair</a> were established in 1954, these two neighbourhoods have become extremely popular for wealthy Calgarians. The average home price is over $2.1 million, and the average household net worth is almost $6.6 million. As for the income, the average for households in these neighbourhoods is just approaching $554,000. These areas feature gorgeous homes, but also beautiful landscaping that can make you feel like you're at home when you first arrive.
3. Eagle Ridge
<img style="display: block; margin-left: auto; margin-right: auto;" title="Community of Eagle Ridge, Calgary" src="/userFiles/840/image/blog/expensive_neighbourhoods//community_of_eagle_ridge_calgary_588.jpg" alt="Community of Eagle Ridge, Calgary" width="588" height="364" />
<a href="https://www.joesamson.com/calgary-south/eagle-ridge/" title="View Homes in Eagle Ridge">Eagle Ridge</a> was constructed in the 1960's, this neighbourhood has homes that sell for an average of $1.41 million. The average annual household income is over $660 thousand, and the average net worth is over $6.55 million. What's especially unique about Eagle Ridge is that it's home to the Prime Minister of Canada, Stephen Harper. This may be a small neighbourhood, but it has beautiful and unique homes that offer something for everyone.
4. Mount Royal
<img style="display: block; margin-left: auto; margin-right: auto;" title="Community of Mount Royal, Calgary" src="/userFiles/840/image/blog/expensive_neighbourhoods//community_of_mount_royal_calgary_588.jpg" alt="Community of Mount Royal, Calgary" width="588" height="364" />
The beautiful neighbourhood of <a href="https://www.joesamson.com/calgary-city-centre/lower-mount-royal/" title="View Homes in Lower Mount Royal">Lower Mount Royal</a> has households that average a net worth of $6.59 million. The income for the average household reaches just over $617,000, and the average home can be bought for just about $1.6 million. This is thought to be a more laid-back neighbourhood where residents have a strong sense of community. The area of Upper Mount Royal is also the 20th most walkable neighbourhoods in Calgary, so it's great for individuals who don't want to drive everywhere they need to go.
5. Roxboro
<img style="display: block; margin-left: auto; margin-right: auto;" title="Community of Roxboro, Calgary" src="/userFiles/840/image/blog/expensive_neighbourhoods//community_of_roxboro_calgary_588.jpg" alt="Community of Roxboro, Calgary" width="588" height="364" />
Established in 1923, <a href="https://www.joesamson.com/calgary-city-centre/roxboro/" title="View Homes in Roxboro">Roxboro</a> is one of the richest neighbourhoods when it comes to net worth, but it comes in second in Calgary when it comes to the annual income of households. While Britannia is number one for the large income that residents have, Roxboro residents have an annual income of over $845,000. The average net worth of households here is just over $6.38 million, which makes it the 20th highest. As for the home prices, they are the 2nd most expensive in Calgary at almost $1 million on average.2015-02-26T19:10:00-07:002018-02-19T17:36:03-07:00Joe Samsontag:joesamson.com,2012-09-20:3626Avoid Making a Mess of Your Real Estate Plans<img style="float: right;" title="How to avoid hiring a bad REALTOR" src="/userFiles/840/image/blog/bad_realtor_480.jpg" alt="How to avoid hiring a bad REALTOR" width="280" height="388" />Imagine that you're about to make a huge financial move in your life, which involves selling your home so that you can build or purchase the <a href="https://www.joesamson.com/calgary-new-homes/" title="Search New Construction Homes in Calgary">new home</a> you've always wanted. Many sellers may plan their move so carefully but sometimes they miscalculate the most important step along the the way.
You may decide that you want to rent after your home sells, which will ensure that you don't have to worry about carrying two properties at the same time.
You pat yourself on the back and celebrate the success of your careful planning. Do you think that once you make that decision the hard work is over?
While you've certainly made important decisions, you still have to face the job of hiring a real estate agent that you can trust. This may seem easy, but it's actually something that requires a lot of consideration. After all, this is the person you're relying on to get your home off of the market so that you can move on with the goals that you've set for your future.
Hiring the Wrong REALTOR®
So, what happens if you don't hire the right REALTOR®? Is it something that will dramatically affect your finances or future? Well, that depends. There are a lot of nightmare stories out there, and all of them are unique in their own ways.
Take into account an experience that one woman had with a real estate agent named "Mark". This story will give you an idea of why your choice of real estate agent really matters, and how one bad agent can set you back considerably.
Nancy and her husband hired Mark after they remembered he had worked with a friend of a friend to help sell their home. They didn't do any research because he was already an acquaintance and figured he was successful working for a great company, so he must be good at his job.
Mark came over right away with his assistant to look through the home to get an idea of what they could put it on the market for. During the walk-through, the assistant commented on the home is a bit cluttered, but they offered no other advice in terms of improvements that could be made. Nancy and her husband then signed a one-year contract with him, as he said it was required of all sellers.
The REALTOR® left saying they would be in contact in a few days to discuss a selling price, and Nancy got to work on the house. She decided to get on top of the situation and box up some of that clutter the assistant had mentioned, assuming it would make her home more desirable to buyers.
Fast forward three days later, the agent showed her a few homes similar to hers and discussed what her selling price should be. Unfortunately, this number was lowered than what the couple wanted to sell for, so they decided to start high and see what happened. After all, they could always lower the price later on!
After this meeting, the agent was supposed to come by to take pictures of the home so they could make flyers, but that didn't happen as planned. Missed meetings and lack of feedback made Nancy and her husband nervous, and that was not even the worst part.
The Failed Real Estate Sale
The months quickly passed without any progress being made. The REALTOR® was nowhere near to be found but we still had our house and our hopes were quickly diminishing of every being able to move into our new home.
Almost one year after Nancy and her husband put their home on the market, it was still there, with no buyers in sight. Nancy had almost cleared out her home to make it more appealing to buyers, and her agent wasn't giving her nearly any feedback about the changes she was making.
Not only was he not telling her what to do to make her home look better to buyers (i.e., how to stage it), he was also not sharing with her what potential buyers were saying after they walked through. Nancy felt a HUGE lack of service and suffered a real blow when she found out her friends had sold their home after just a few months on the market.
Why are Others Selling Their Home's Faster?
The home of their friends wasn't as nice as theirs, so how did they sell it so fast? Was it just pure luck or something else? Actually, it was their REALTOR®. The person they hired went above and beyond to make sure they had a great selling experience. Here is a list of what they did for their friends, and what they continue to do for any of their clients:
- Reports of what potential buyers said during walk-throughs.<br />- Help with home staging.<br />- Provided packing boxes, tape and other supplies to put away clutter that needed to be hidden.<br />- Advice on whether or not to paint.<br />- Advice on which personal items to leave in the home.<br />- The loan of a moving trailer so moving was less stressful.<br />- Lists of pricing options for how much they wanted to sell.<br />- Advice on how pricing could make a sale more complicated.<br />- Gave feedback after every showing.<br />- Answered questions as they were asked.
It's easy to see that Nancy's friend had a completely different experience with her REALTOR®; an experience that Nancy and her husband really wanted for themselves. With their contract ending with Mark soon, Nancy and her husband went to go see their friend's REALTOR®, Becky.
While at the office every agent was kind, answered questions and showed courtesy. And, as for Becky, she was absolutely delightful and was actually glad to see them. She answered questions, gave advice and seemed genuinely interested in helping out the couple with their home.
They ended up hiring Becky once their contract with Mark was up, and a little over two months later, their home was under contract. They got all the same amazing services that their friends did, and were extremely glad they made the switch. Becky was working for them because she really did want to see their home sell. She was honest, hard-working and gave really good advice that got their home off the market quickly.
Hopefully, this experience shows you just how important it is to do your homework on the REALTOR® you work with before you sign a contract with them. You need to know that they will be there when you need them, not just when they need you.
Take your time to ask friends and family for recommendations, but also do research online and ask the actual REALTOR® questions in person. Even better - don't let anyone tell you how great they are. Unfortunately, everyone seems to be a little biased towards themselves. Look for signs of what they had done for others in the past. Try to ask for references or READ and VERIFY testimonials from their past clients.
On our website, you will find <a href="https://www.joesamson.com/about/testimonials/" title="Joe Samson's Testimonials">dozens of testimonials </a>from our past clients for example. It never hurts to look at all of your options, especially if you want to save both time and money.2015-02-19T19:15:00-07:002018-02-19T17:39:06-07:00Joe Samsontag:joesamson.com,2012-09-20:3627Questions to Ask YOUR Agent When Buying a Home<img style="float: right; padding: 10px;" title="Hiring a real estate agent" src="/userFiles/840/image/blog/hiring_a_real_estate_agent_400.jpg" alt="Hiring a real estate agent" width="400" height="267" />If you're buying a home you probably want to do things right so you have peace of mind knowing you're making the right moves.
You've checked your credit, you are ready to take out a loan, know what your expectations are and are ready to <a href="https://www.joesamson.com/blog/finding-an-outstanding-realtor/" title="Read: Finding an Outstanding REALTOR®">hire an agent.</a> But, which agent should you choose?
When looking for a real estate professional to help you buy a home, it's important to interview several professionals. This will ensure you can compare each of them and choose which is the very best fit for you.
What should you ask them? Below are some GREAT questions you should consider using.
How many years have you been in business?
You want someone with experience, right? Well, ask this question first and right away you'll know how long they have been helping people buy and sell homes in the neighbourhood where you live.
Do you have a good reputation?
Working with a reputable agent is important. Make sure you are by asking them about their reputation and testimonials specifically. They should be able to provide these to you without a problem.
What's your experience with homes in my area?
Your agent should be able to tell you specific information about the area you plan on buying it. From trends in the area to <a href="https://www.joesamson.com/blog/calgary-real-estate-market-statistics/" title="Calgary Real Estate Market Statistics">property values of homes</a>, they should have the facts that you need.
Do you require that I be pre-approved before buying?
In most situations, the answer to this question is going to be yes, and that's a good thing. An agent who wants to help you avoid disappointment will make sure you're <a href="https://www.joesamson.com/blog/reasons-why-you-need-a-mortgage-pre-approval/" title="Read: Reasons Why You Need a Mortgage Pre-approval">pre-approved for a mortgage</a> so the buying process goes more smoothly.
How many homes have you helped clients buy in the last year?
The duties an agent has when helping you buy a home are different from when they are helping you sell one. You'll need to ask this question to make sure they are familiar with the process and have a track record of making sales.
When I've found a home, will you be present at the inspection?
Most top rated agents will say yes to this, as they know how important it is for them to be there. However, not all agents will do this, so it's not always going to be a "yes" answer.
Do you require me to sign a contract to work with you?
The answer for this will depend on the agent and how they work, but most agents will not make you do so. If you're not up to signing a contract, then you should be able to easily find someone who won't require you to.
How many homes will you show me?
An agent who really listens to you should only have to show you 5-10 homes, maximum. If they don't narrow down your options, you could easily end up becoming overwhelmed.
Ready to get out there and start interviewing? Don't forget to write down all the answers and compare them before you make your final choice. Buying a home is a huge financial step, and that's why it's so important to carefully consider which professional helps you do it.2015-02-17T19:19:00-07:002018-02-19T17:40:42-07:00Joe Samsontag:joesamson.com,2012-09-20:362810 Tips for Purchasing a Luxury Home<img style="display: block; margin-left: auto; margin-right: auto;" src="/userFiles/840/image/blog/Luxury_Home_in_Calgary_II.jpg-01.jpg" alt="Luxury Home in Calgary" width="1201" height="680" />
Luxury homes are more stunning today than they have ever been. I mean, could you imagine having a basketball court or private theatre in your house?
There are some amazing homes out there, and the higher your budget, the more choices you'll have. But, before you sign mortgage papers for a home just because it has a waterfall or giant closet, remember that you're still making an investment. Below you'll find some of the top tips from real estate agents that will definitely help you buy your dream home.
#1. Bring the Right REALTOR® on Board
Hire a Realtor who has experience with luxury homes in particular. They will be able to give you specific information that other agents wouldn't be able to. For example, they'll be able to tell you which luxury communities are the best to invest in.
A luxury real estate agent in Calgary should be well aware of communities such as <a href="https://www.joesamson.com/calgary-city-centre/bel-aire/" title="View Homes in Bel-Aire">Bel-Aire</a>, <a href="https://www.joesamson.com/calgary-city-centre/britannia/" title="View Homes in Britannia">Britannia</a>, <a href="https://www.joesamson.com/calgary-city-centre/lower-mount-royal/" title="View Homes in Lower Mount Royal">Mt. Royal</a> and many other luxury communities in Calgary.
#2. Get a Home Inspection
If you find a home you're seriously considering, always have it inspected. Avoiding this could result in buying a pretty home that isn't in good shape. Try to <a href="https://www.joesamson.com/blog/how-to-choose-a-home-inspector/" title="How to Choose a Home Inspector">select a home inspector</a> who specializes in luxury homes rather than regular houses.
Modern homes these days often come with sophisticated electronic systems that could require great expertise to manage.
#3. Ask for Private Listings
Ask your agent for private or "pocket" listings that are within your price range. High-end homeowners may not allow their agents to put their homes public on the market to protect their privacy. Often, luxury property homeowners will only show their homes to pre-qualified buyers to avoid tire kickers and wondering eyes.
Most REALTORS® can work with other luxury agents to find you homes that you wouldn't see in online listings. It definitely pays off hiring a well-connected luxury agent.
#4. Will it Sell in the Future?
While you might love the solid gold toilet in your luxury home, will that appeal to other buyers? If you purchase a unique home remember that it may be difficult to sell in the future despite being luxurious.
#5. Research Online
While your agent will help you find a home, you can still do research on your own. Look at <a href="https://www.joesamson.com/calgary-luxury-homes/" title="Search LUXURY HOMES for sale in Calgary">Calgary luxury home listings</a>, take virtual tours and research neighbourhoods. You'll learn a lot just by looking around at what's out there!
Concentrate on finding websites online who specialize in showcasing luxury homes and provide additional information that is beneficial to the buyer.
#6. What about the Title?
If you're concerned about taxes or even your privacy, then speak with your tax accountant about how you'll take the title of your home.
#7. Ask Experts for Tax Information
Luxury homes often have extremely high taxes, and that's why you should speak with your estate planner or tax accountant before you make the final purchase. They'll give you tips for taking the title and information on tax deductions.
#8. Trust Your Agent
Work with an agent who respects your privacy and won't speak to others about your needs, budget or other sensitive information.
#9. If You Can, Use Cash
Cash is always the best option for purchasing a luxury home, but if you want to keep cash free, then take advantage of a low-interest mortgage.
#10. Prepare Your Financial Information
Some agents and even sellers want proof that potential buyers can afford luxury homes. Have bank statements and other documents that prove your wealth available to show to the necessary parties.
Although many buyers feel protective of their net worth to share with strangers but it could ease the relationship between the agent and the sellers would also appreciate only bringing qualified people through their home.
Buying a luxury home in Calgary can be a wonderful experience, and these tips will ensure things go more smoothly. Consider them before you ever contact an agent to look at homes and you'll be glad that you did!2015-02-11T19:21:00-07:002018-02-19T17:44:09-07:00Joe Samson