The big distraction in real estate sales

Yesterday a woman called our Sutton office and her call was put through to me. Now, this might have been a competition bureau call where they pretend to be a possible client. Regardless, the question she asked was what our office charged for commission. She was commission shopping; the biggest distraction affecting our profession right now. My answer went something like this:

I believe the better question for you is this, "what is the most effective way to get my home sold for the most money with the least stress?" And, while on a roll, I mentioned that the biggest distraction in our area is wondering who's cheapest or who is making what. Trust me, if my financial planner is making me money, I hope he is also profiting from the experience. He doesn't need to discount his services -- I'm glad to pay and happy for his professional skill that is guiding my humble nest egg in trying times.

If a professional delivers spectacular results and nets you a great price for your home -- all the while giving you the utmost service and communication. Do you really care what they make? Since when did we reward cheapness? Are we all doomed to worship at the shrine of the Walmart models of business?

Why do we allow ourselves to become distracted by the shiny prospect of paying as little as possible for professional services? Do you choose a dentist, lawyer, electrician, handyman or any other valued specialist based on how little they charge? Or do you rather choose based on the value of their service, the long lasting benefits and better result?

If a race to the bottom of attempted to get a cheap service instead of a great service continues the end result is going to be very costly.

Selling your home isn't like putting your used civic car on kijiji......it is likely the largest asset you have. So, here is my suggestion when looking for a Realtor that will, in the end, make YOU the most money.

1. look around and get as many recommendations as possible about the skill set and approach of the Realtor

2. look at and meet with a few Realtors (with an ear to hear more than how little they get paid.)

3. look for a full time Realtor -- with their head fully in the profession.

4. look for a Realtor well respected by their colleagues (as in, their colleagues LOVE showing their listings)

5. look for a Realtor who advises wisely (even if not the popular or easy route)

6. look for a Realtor who is invested in the community and gives of their money, time and talents to make YOUR community a better place to live.

7. look for a Realtor who is a skilled negotiator (hint....if they can't negotiate a good compensation for their own skills -- do you think they'll be the best at negotiation the highest price for your home?)

8. look for a Realtor who is true to their word -- they say what they mean, mean what they say. This person is going to call you when promised and communicate as promised.

9. look for a Realtor who is a resource before, during and after the sale -- not just a one hit wonder sales person out for the quick cheque.

10.  look for a Realtor who will not string you along (taking your listing at a price they know it won't sell for and then badgering you for price reductions. We call that "buying the listing.")

I could go on....but you get my point. Choose wisely, you owe it to yourself to focus on value and net results not in the distraction of trying to pay as little as possible for professional services.

Creative Marketing -- not 1 size fits all.

Marketing is most certainly not one size fits all. Each property requires imagination and creativity to position it to stand out in the array of competitors. A great Realtor considers carefully the target audience and determines where the best exposure will be. And pictures? Of course, but pictures that showcase the home and grounds in artistic ways -- not "just the facts" photos -- or even worse those horrid ones you see with laundry and clutter included!

Does your property fit into a niche publication? Does your marketer understand what you loved about it? Is the marketing changed up if not effective?

Why I like to be very hands on with my listings is so that I become familiar with the property, its assets and atmosphere. All of the prep work about researching, measuring, downloading and perfecting the launch of a new listing is part of my process to come out so robustly and completely with your home that it stands out beautifully.

How a home is described and captured in words is every bit as important as how lovely the pictures are. Overused phrases and tired descriptions put would be buyers to sleep and they click over to the next property.

The marketers making a big splash might be primarily making a big splash about themselves -- and not about you and your property! There is a huge difference between marketing a property and "image advertising" which is essentially bragging.

You should not be so interested in how many sales notches the sales person claims but rather in how effective they are in getting the job done. Better yet, how effective are they in getting YOUR job done and how effective are they in keeping you as stress free as possible.

All Realtors are not created equal....chose carefully and not on the basis of trumpets and fanfare about them!

Call me. We'll talk....

You have to live somewhere.

Here's the thing. You have to live somewhere. Even IF the market were to soften 10,000 or 15,000 for that home you'd really like in a year you have to consider some things.

1. Unless you've moved in with relatives or friends chances are you've spent more than that on rent in a year. (Not to mention possible pain and suffering of cramming in with relatives -- theirs and yours! What is that cost?).

2. In our area with average days on market before selling around the 100 day mark, the home you love is no longer available.

3. While you're waiting for a better time to buy, prices could rise instead of fall.

4.  While you're waiting for a better time to buy, interest rates could creep up, meaning you will end up spending more than you might be saving.

5.  While you're waiting for a better time to buy you might have to put off getting the pet your want, or having the child you want (if renting in strata properties with age/pet restrictions).

6. While you're waiting for a better time to buy you may switch jobs, making securing financing harder -- especially if switching to self employment.

7.  While you're waiting for a better time to buy you can't paint the colours you want or build the deck you want or hang the light fixtures you want.

8.  While you're waiting for a better time to buy you might have to pay for a storage locker for all your toys and miscellaneous items that don't fit into your rental or shared dwelling.

9. While you're waiting for a better time to buy you might be putting off hosting dinners or parties because you're not "settled."

10. While you're waiting for a better time to buy you could be putting the life you want on hold -- all to save some money -- in theory....in fact it may well cost you more.

11. As I write this one of my colleagues, Debbie, told me a story. She asked her buyer if the home was 15,000 less would he offer today? When he said yes, she said, "OK, then let's do it!" And, they wrote the offer for 15,000 under list and got the house!

Some of you have heard me say, there is never the perfect time to have a baby, get a dog or move. But you do have to live your life! And you do have to live somewhere!

Why list in the winter?

Those that know me have heard me say a great time to list is in the middle of winter. While this seems counter-intuitive (most people are listing and buying when the spring flowers are blooming) there is good reason. Simply put, that reason is supply and demand.

Currently I have several sets of buyers with nothing to show them that is of interest. December has seen many buyers in the Okanagan and precious little inventory. So many will list or re-list in the spring and completely miss qualified winter buyers. The demand is far greater than the supply.

You always want to stand out -- and you sure will if you come on when others are going off the market!

So, do call me for a market evaluation and we can see where you stack up in our marketplace. Another good thought if you are listing in the winter -- dig out those spring pictures. We'll put all season photos on line so that even if your land is covered in two feet of snow right now, buyers can see what it looks like in full bloom.

There is no "bad" time to sell. Granted it can be a chore keeping access and driveways clear and safe in the winter -- but it could be to your great financial advantage to make the effort.

If everyone floods the market in spring, suddenly there is more supply than demand and that will affect pricing.

Be different. Be bold.