After eight months of MLS® local sales activity, dollar volume in excess of $1.6 billion is at its highest level ever, 20 per cent ahead of last year’s record level set during the same period of time. It is almost a foregone conclusion that $2 billion in MLS® sales will be eclipsed by the end of the calendar year for the first time in the WinnipegREALTORS® Association’s 104-year history.
The Canadian Real Estate Association (CREA) this summer revised its annual forecast upward to reflect market increases, including Winnipeg’s. CREA economist Gregory Klump is calling for all-time sales and dollar volume records.
Nationally and locally, more consumers than ever are using the services of professional REALTORS® to successfully complete a real estate transaction.
To remind Canadians why more buyers and sellers are calling on REALTORS® to help them meet their real estate needs, a national advertising campaign began this year featuring two television and four radio spots, as well as a website and print ads. The commercials use humour to show Canadians how ridiculous it would be if they used a personal trainer or their mother-in-law to help them buy a property. How about a wedding singer or movie trailer announcer to find the home of your dreams?
The spots draw consumers’ attention to the website howrealtorshelp.ca which contains relevant information on the process of buying or selling a home. It demonstrates that REALTORS® are well versed in the intricacies of buying and selling a home, including the legal aspects of a transaction.
When you hear or see one of these commercials this month, take the time to check out the howrealtorshelp.ca website for some useful information dealing with the home buying and selling process.
When considering the information, keep in mind that Manitoba all REALTORS® have errors-and-omissions insurance for the benefit of consumers, while sellers’ disclosure is not legislated in this province — a disadvantage to consumers when they consider a “for sale by owner” transaction.
An example of the useful information found on the website:
Going it alone
The fact is most people who try to sell their own home end up using a REALTOR®.
Before anybody decides to fly solo through this complex, time consuming and financially perilous process, they should consider these questions.
• Will you really “save” the real estate commission?
When buyers see a home for sale “by the owner,” they see a bargain. They imagine the REALTORS® fee going into their pocket, not yours.
• Are you familiar with real estate law?
Complicated and ever changing, real estate law governs nearly every phase of selling your home.
One mis-step, and an entire deal can fall through, or worse, a lawsuit can come your way.
• How many potential buyers will you reach?
Selling a home takes more than just hanging a “for sale” sign. How will you promote your home? Will you write your own ads? How will you use the Internet, knowing that you have no access to www.mls.ca or the Multiple Listing Service®?
• Do you have the time?
Promoting a home is a full time job, and you may already have one. Will you be able to take calls at any time? How about screening the callers to figure out if they’re qualified to buy your home?
Not everybody who calls is appropriate to walk through your home, but how do you tell?
• Do you know the market well enough to get the most for your home?
Lacking years of experience, the average do-it-yourselfer is merely guessing at their listing price. Often they set the price too low and miss out on thousands of dollars, or they price their home too high and drive away willing buyers.
• What about your selling skills?
If the personalities of prospective buyers rub you the wrong way, can you still deal with them effectively? What about your own feelings, if you hear negative comments about your home? Best to keep the process at arm’s-length by using a REALTOR®.
• Do you have the negotiation skills to keep a deal on track?
When an offer comes in, emotions can run high with so much money on the line. This is why direct seller-to-buyer deals often end in disaster.
REALTORS® keep it professional and are indispensable when it comes to bargaining with buyers.