Fall is here!

There is a wonderful feeling of fresh air. Fall is my most favorite season as it brings colour, cooler temperatures and a sense of people getting ready for something. Whether it is new beginnings as the new school year starts for students, profs, teachers and parents or folks out looking for a new start in a new home be it a bigger home for a growing family or a smaller home as they begin to leave the nest, it feels like the timing is just perfect.

Much has been written in several periodicals about the real estate market across the land and I believe it is a topic that most people like to discuss because, let’s face it, many of us have a vested interest. I find that wherever you go there seems to be a growing number of experts at every function, however, my advice is to get your data and knowledge from someone who actually practices in the field of real estate full time.

I have found that friends and neighbours, although well intended, are the very first ones who put your decision making about your real estate into doubt. Conversations usually go like this “You are only listing it for x? Your house is worth way more than that.” This is a comment that is generally from a neighbour close by who is counting on the sale of your house raising the value of their own home. Remarks like this are usually not helpful to those who are making some of the most important financial decisions in their lives. Would you counsel your neighbour about other financial investments? Likely not, so perhaps avoid discussing your personal real estate business with your neighbours and friends is the best path.

I have said before that it makes more sense to actually speak to a well respected realtor who knows about the market in your area. This is where the advice of a friend or neighbour can be helpful, as they have some first hand experience.

Relying on what you read is perhaps unreliable as markets across Canada are divergent. For example, folks in Calgary, Edmonton and Fort McMurray are experiencing one kind of market that is currently affected by dramatic and sudden price adjustments in oil. This is affecting a variety of decisions for people in businesses in these communities, therefore employment, available income and a need to seek employment elsewhere. To suddenly see cash flow reduced affects other decisions.

In Ottawa our experience is different. Ottawa being a government town is deeply affected by budgets and elections. This period is no exception. It feels like many buyers are waiting on the fence until after the election to buy, thus creating stress, frustration and even disappointment for sellers.

If you are a frustrated seller I do hope that your realtor is in touch on a regular basis giving you accurate information that will help you make necessary decisions about managing the sale of your home.

Keeping a home listed in a sluggish market without changing the price in hopes of a positive outcome will only disappoint on so many fronts. If you are not really motivated to sell then it is unwise to leave your home on the market without changing the price as it then begins to develop a stigma. You want to avoid the circumstance that creates negative chatter about a property.

When you are searching for a realtor there are always many options. Don’t be fooled by bravado and a braggadocious attitude. Rather look for an agent whom you believe is looking after your interests, not using you as another feather in their cap. Identify someone who shares your same values, ethics and principals. This is critical in managing the sale of your asset. Trust is at the very core of this relationship and you never want to be in doubt of the information your agent is giving you.

When trying to select an agent some people go for price. In other words “Who is going to charge me the least amount of money to sell my home?” You should examine what the agent is offering you. What kind of exposure are you getting? How available are they? Do they have regular office hours to take phone calls to book appointments or is it an asserting service? Not all services are equal and not all agents perform on the same level.

When you do decide to sell your home it is always good to see at least three agents in order to get a real overview of the market. You don’t get your news from just one source so don’t rely on just one agent who can be very persuasive in the interview but will they deliver on all their promises?

Selling your home is more than just putting a sign out and taking pretty pictures.

Whatever you decide it is perhaps not a good idea to get locked into a contract for a long period of time. Do a shorter contract to see if there really is a fit. You can always renew it at the end of the contract.

I am always available to talk about real estate and enjoy doing so. I welcome the opportunity to talk about it in more detail over tea. So don’t be afraid to call. Until next time, enjoy the change in weather!