Your New Forever Real Estate Agent

chaos-227972_1920So you have decided to sell your house. Congratulations!

By now you have looked around and panicked and realized that you will actually have to clear off the coffee table for the first time since the baby was born if you are going to having people look at the house! AND fold and put away LAUNDRY MOUNTAIN! So where do you start?

DO NONE OF THOSE THINGS!

Okay, maybe clear off the coffee table. But really those things are NOT a priority. The very first thing you should do is find your ‘new forever’ real estate agent. “What? New? Forever? What are you talking about?” Stick with me. Grab a pen and paper. I will wait.

Okay, now I want you to draw a line down the middle of the page. At the top of one side of the line write PRO and the other side write CON.

On the PRO side, start writing down all the things you want in a real estate agent. There is no right or wrong way to do this. You might start with qualities like Honest, Punctual, or Funny. Why funny? Because you are choosing to work with this person in a potentially stressful situation. Do you want to have some comic relief along the way?  Maybe, maybe not. But if you do, do you want a Realtor who has permanent RBF  (resting bitch face)and a sense of humor to go with it? Okay, so that may not be high on your list of PROs for a Realtor, but worth some thought. Did you also notice how entertaining and funny this blog is? Maybe put that down on the PRO side! (I am rooting for me!).

Some other qualities or traits you may consider are:

Member of the local Real Estate Board

Winner of awards

Volunteer work

Works a set schedule?

Recommend by recent past clients (whom you can actually contact as references)

A Realtor who actually has a plan to market the property beyond putting it on MLS, putting up a For Sale sign, and holding an open house.

A track record of successful sales

Someone who is easy to get a hold of (do they answer their calls, or return messages promptly? Define promptly! They may think promptly is by the end of the day, or they may think promptly is within 5 minutes.

Accountability to your desired result

Do they have a Plan B?

DO YOU LIKE THEM?

Do they understand what you are trying to accomplish with this move?

That should be enough to get you started….

Now On to the CON side.

Basically, it can be the OPPOSITE of the PRO side.

Dishonest

Late

Lazy

Sour faced (RBF), no sense of humor

No experience (or no backup of a Realtor with experience)

Days off?

No market plan, or too basic

You don’t like them!

No references

Don’t do what they say they will do

Not listening to you

Great! You have your list. Now push aside the stuff on the coffee table, put your feet up and read about WHY this list is the place to start with you have decided to sell your house. (This blog is the first is a series of 5. Check back for #2, or sign up to be emailed when it comes out! cynthia@cynthiamcgiverin.com)

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Are Chinese Investors really buying this?

I came across the ad below today (copy of ad below). It says : CHINESE INVESTOR LOOKING FOR PROPERTIES TO BUY!   

“I am a real estate investor with Chinese buyers looking for properties in Toronto. Please contact me if you have inventory that is below market value“. (Italics mine)

It begs the question. Who responds to this type of ad?

Maybe someone desperate for cash? But if they are cash strapped and own a home, wouldn’t they just put in on the market, get it sold in a week or so, and get the MOST out of their house? Why would they sell it for below market value?

Okay, so rule out the cash strapped home owners.

Who else?

Someone who doesn’t need the cash? A financially comfortable home owner. Why would they sell below market value?  Bingo, they won’t.

So rule out financially comfortable home owners.

Who else?

People who know something is wrong with the home that affects its value in a significant way and would rather not disclose. Now that sounds plausible. Maybe a grow op, home used for purposes of crime, or a home where a criminal act occurred (assault, murder etc). Would they sell below market value? Absolutely! These properties carry what we call, a ‘stigma’. They will always go below market value.

So follow this train of thought for a moment. The ad is asking for people who have an ‘inventory’ of homes, below market value, to call them and they will buy them as an investment, because, after all, they are Chinese Investors. Really. I can’t make this up. I know a few investors who are from China. They are very savvy and educated about real estate investment. Why would Chinese investors buy homes with a significant stigma, even if they are below market value? Quite simply, they won’t.

If I were a Chinese investor, I might be offended by this ad. But then again, a Chinese investor isn’t trolling for below value homes on Kijiji.

Conclusion: This ad is trolling for buyers who read the ad and say “Oh, look! This person might be able to find us a below market value house too! Let’s call then! ”

This ad is not looking out for sellers. At all. It is a three dressed up as a nine. A confusing ad, without a clear focus. Another ad giving our industry a poor name.

But I have to go now. I am showing some great investment properties to some investors. Whos country of origin, by the way,  really doesn’t matter. Great properties are a great investment even at FAIR MARKET VALUE. Every time.

PS. If you are looking for smart investment opportunities, contact me below or visit our Investment page. We can guide you to ensure your money is wisely invested!

chinese_investor_looking_for_properties_to_buy____houses_for_sale___markham___york_region___kijiji

Are you too smart for your own good?

win lose          Guilty as charged.  Let me explain.

I like to research. Whether it is researching real estate trends, home values, or our next vacation, you will often find me on the computer researching.

When it comes to researching our holidays, in some ways, I feel I know more about our destinations than residents!

And sometimes that comes back to bite me. Because although I may know more about tourist attractions and pending weather patterns than locals, I don’t know the specific nuances that only residents would know. Where is the best place to get a home cooked meal? A reasonable priced massage? A trustworthy mechanic? What areas of town to avoid during what hours of the day…. There are certain things that only residents would know. So while I can think I have a good grasp of the destination, my knowledge is limited by my very position as a tourist.

And this scenario happens more often that I like, in real estate. You see, home owners and buyers alike, often do a lot of research online. As they should! This is a huge investment and knowledge is power. And sometimes, sellers and buyers, do enough research, and ask enough questions, that they think they know enough to ‘help themselves’ and choose not to use a trusted Realtor.

This scenario recently presented itself to me yet again. And it just leaves me feeling sad. Not for me, although the business would have been nice. Not for the buyer. But for the seller. There were three potential people to be involved in the transaction. Buyer. Seller and Realtor. And only one person won. The buyer. They made off like a bandit. In a successful real estate transaction, we strive for a Win-Win-Win. This was a Lose-Lose-Win. (If you came to this blog via my e-newsletter, this is point where the seller lost $100,000 Crazy right?!?!)

Call me a ‘right fighter’ but this just irks me. Someone ‘won’ off the back of someone else. And it was not necessary. The scenario could easily have been Win-Win-Win. But someone thought they knew ‘enough’ to help them self.

Please, if you are reading this because you are doing your research, work with a Realtor that you know you can trust. Interview. Ask questions. But in the end, a great Realtor working along side of you won’t cost you what you think. Because what you don’t know, that is what really can cost you. Ten of thousands of dollars.

Contact me anytime. Let me prove to you the value of a great Realtor.

Cynthia

 

 

 

Where smart investors are buying!

Take 30 minutes and listen to this interview with our personal investment Realtor Rachel Stempski. She is one SMART cookie! Listen to this interview and then call me if you want to discuss it more fully.

FYI…Welland is where we are investing 🙂

http://iloveniagararealestate.com/002-why-are-smart-investors-buying-in-the-niagara-region-rachel-stempski-explains/