How Do You Choose a Realtor?
How do you choose a realtor?
Well, maybe that’s not the case if you’re lucky and already have a Realtor that you’ve established a great relationship with and trust. Yes, trust. Remember that. We will come back to that very important word.
Walking into vote a short while ago I got thinking about perception.
Both front runners in this election (in fact, most of the faces of the other parties) sound like they have good ideas on ways to continue to build Canada and improve the lives of its citizens. So if they all have mostly good ideas, and their advertising and commercials all paint powerful messages, it would be fair to say that the public’s perception of them is the tool they use to get a fair portion of their votes.
Most decisions in life are made this way –
from what you decide to eat to where you decide to shop, and from what you watch on TV to who will help you to sell your house.
Advertising sends a specific message to us and creates a specific perception of how we view a product or person. Though essentially just coffee houses, there’s a big difference in what comes to mind when you see a Tim Horton’s ad versus a Starbucks ad.
If advertising is just pushing perception without offering anything concrete to back up reputation, how can you be sure of any of your choices?
How do you get the person that will really help you reach your goals? In my case, how do you choose your Realtor?
Good question. Now we are getting somewhere!
Do you look for experience? Can too much make them hard headed and do they still work as hard as when they first started? Do you want someone who is hungry and enthusiastic, great out of the gate? Maybe they’d lack experience and miss something? How about marketing? Many Realtors have become very tech-savvy and are great at creating an online audience, but does the screen time not match up to the people skills when face to face is needed? Or what about your “people” people; some people are just great with face to face meetings, but do they lack the know-how needed to engage an important online audience?
Posing all of these questions might not be making it any easier on you. You may quickly run back to making those perception based decisions again.
Like any profession, there are just people that are naturally good at what they do, but most of all, they are good at what they do because people trust them. People trust them because they have earned it. Of all the good experiences I have had in this business, none have filled me with more satisfaction than that one line – We trust you, Hudson.
I didn’t start with experience, I had no marketing budget to even create any sort of perception, and to be real here, my kids are teaching me how to use Instagram. But when I walk into a room my first goal will always be to build trust. Without that as a fundamental starting block, all you have to go on is perception anyways.
Navigating the real estate landscape Welcome to the first instalment of our monthly series dedicated to Baby Boomers and even some Gen X’ers navigating the real estate landscape and embracing lifestyle changes. In this series, we will delve into various aspects of the home-selling journey, offering valuable tips and insights specifically tailored to the unique needs of this demographic. The decision to sell your home as a baby boomer is often more than a transaction; it's a pivotal moment that marks a new chapter in your life. Whether you're an empty nester looking to downsize, seeking financial freedom, or simply ready for a change, this series aims to be your comprehensive guide. In this inaugural article, we'll explore why now might be the right time for baby boomers to sell their homes. From the emotional aspects of letting go to the practical considerations of market dynamics, we'll cover it all. Without further ado, let's dive into the first topic: Embracing Change – Why Now Might Be the Right Time for Baby Boomers and even some Gen X’ers to Sell Their Homes. As the winds of change sweep through the real estate landscape, many baby boomers are contemplating a significant life decision – selling their homes. While the emotional attachment to a home can be strong, there are compelling reasons why now might be the opportune moment for baby boomers to make this transition. Empty Nest Syndrome: The kids have flown the coop, and the once vibrant family home might feel a bit too spacious now. Downsizing can not only reduce maintenance costs but also provide a newfound sense of freedom and simplicity. Financial Freedom: With property values having likely risen considerably from the time you purchased your first home, selling and downsizing can provide a substantial financial windfall. If you are Gen X or Baby Boomer, this is a tremendous opportunity to bolster your retirement savings, embark on new adventures, or even assist your children with their own housing endeavours, while simultaneously simplifying your life. Maintenance and Upkeep: As homes age, the upkeep and maintenance demands can become more burdensome. Selling your home now could mean leaving behind the hassle of constant repairs and yard work, allowing you to enjoy a more relaxed and maintenance-free lifestyle. Shifting Market Dynamics: The real estate market is ever-changing, and keeping a close eye on current trends is essential. With high demand and low inventory in many regions, baby boomers may find themselves in a seller's market, potentially fetching an optimal price for their property. Even when the overall market has cooled, as it has over the past 18 months, there are always properties where it doesn’t matter what the market is doing, demand will always remain high with Sellers still fetching a premium for their homes. Lifestyle Changes: As Gen X or Baby Boomers entering a new phase of life, your lifestyle preferences may evolve. Selling the family home can open the door to new living arrangements that better align with current interests, whether that be a smaller residence, a retirement community, or even a travel-centric lifestyle. While the decision to sell a home is deeply personal, considering the current market conditions, lifestyle changes, and financial opportunities can help you make an informed choice. Embracing change and seizing the moment might just lead to a more fulfilling and comfortable future. If you feel you may be ready to embark on a new chapter, explore different living arrangements, or capitalize on the current market dynamics, or, you're a baby boomer that is contemplating the sale of your home, let's have a conversation. Together, we can explore your options, discuss market trends, and create a personalized strategy to maximize the value of your property. Contact me today to schedule a complimentary consultation. Let's turn the page and embark on this exciting journey together. Your next adventure awaits! Written by: Tom Hillson, Sales Representative
Purchasing a home in the current market In September there was a lot of talk on the return of the real estate summer slowdown. I addressed the concern and panic among some sellers in my newsletter, and how this shift is an integral part of the ever-evolving real estate landscape. This volume will focus on the advantages of being a purchaser in the current market. Healthy Market Stability: While the market's pace may have slowed down, it’s important to recognize that this is a sign of a healthy and balanced market. Buyers now have the opportunity to conduct thorough due diligence before finalizing a property purchase. Conditions like financing, inspections, and sale of property are back in play, allowing buyers to make informed decisions. Fixed Interest Rates: The topic of interest rates has recently experienced day-to-day fluctuations. With the Bank of Canada bond yields decreasing this week, we anticipate a continued reduction in fixed mortgage rates. It's important to note that bond yields and fixed mortgage rates have a direct connection. Meaning when bond yields lower, fixed interest rates decrease. Although lenders have begun to reduce their fixed rates, the decrease is not as significant as the fall in bond yields. Current rates for an insurable 5-year fixed are 5.75%. Lenders rates tend to take the elevator on the way up and the stairs on the way down. Overall this is excellent news for anyone with a mortgage renewal approaching in the near future.
Real estate in Guelph I am not going to pretend I know what is going to happen, but with so many people asking me, it’s only fair I try. I mean, I have my opinions, and I will continue to make my personal decisions when it comes to real estate and investing based on them – and when my clients ask, I will share how I feel. So, how do I feel about the real estate market? Well, actually pretty good. And how did I feel last month? Well, pretty good. What about a month from now? Yes, pretty darn good. How can you feel good about something that so many are feeling bad about? Well, I am not quite sure that the owning of real estate, or the homes people want, or the investments they hope to make have people feeling bad; I imagine it is more about the new interest rates. Let’s look at the investment of real estate first. Whether you are renting it out or living in it, it is a choice of what to do with your money. For the people that are living in it, it’s great to know that it is an investment, because you have to spend money on housing regardless. When we look at any investment we always ask ourselves, “Does this make sense?” The simplest way I can look at real estate and answer that question is to say, I have a product and the people that want and need this product are growing, and the availability of this product does not seem to be doing the same. Describing it this way helps make the most sense to me. I guess I could say the same thing about Coca Cola, but there is Pepsi, Sprite, water, beer, and this Prime drink that my kids won’t stop talking about (don’t get me started). So real estate as an investment makes sense, as there is no alternative to housing. What about everything I am reading about prices going down? Well, real estate prices are going down now, since the rates people use to afford them have gone up. When the rates go down, you know the prices will start to climb again. The market is very healthy – I have been saying this for months. The reason we’ve noticed some homes not selling is due to the sellers adjusting their price expectations downwards slower than the buyers are. The sellers are still willing to accept the price of a spring ago, but the buyers are the ones calculating the interest rate. When rates go up that quickly, it’s hard for sellers to accept things fast enough, so buyers wait, and one by one new sales prices give data to sellers that say “You see, these are the new prices,” and a reluctant decision takes place by way of a price adjustment and then another sale happens. In the spring market of 2022 prices rose but when interest rates started to climb prices fell. Although real estate goals still existed, and people still wanted to invest, the falling prices is what grabbed the headlines, so that healthy underbelly lies just below the surface. Now here we are, in the early part of the year and what can sometimes be the barometer of how our real estate market will perform. How is it going? Well, the supply and demand levels have once again tipped in a slight favour of the seller, but buyers armed with a different interest rate are taking a more calculated approach instead of having a fear of missing out. To conclude, a properly priced home will sell, an underpriced one will sell for over asking, and an overpriced home won’t sell at all. You see, nothing to see here, just a regular old spring market in Guelph. Thanks for reading, and I thought this quote would be fitting. “When the market is greedy, I get scared. When the market is scared, I get greedy.” -Warren Buffet
