The year’s local real estate market is finishing with a flurry of activity. The MLS® market has had an impressive second half. Despite such a strong finish, it appears highly improbable that the most MLS® sales ever— over 13,000 in 2007 — will be safe from this year’s challenge. It is almost impossible to overcome a 200 sales lead when December, at best, will probably only generate 600 sales. However, 2011 will go down as the second best MLS® year on record for sales and will easily set another annual dollar volume record.
Favourable local market conditions are at play, such as relatively affordable house prices in comparison to other major Canadian markets, some inventory improvements over the past few years, a continuation of low mortgage rates, steady employment numbers and consumer confidence, which has been buoyed by the return of the Winnipeg Jets and other exciting developments in our city, including the new airport and the Canadian Museum for Human Rights.
“Consumers here see housing as a haven of stability in comparison to alternative investments,” said WinnipegREALTORS® president Ralph Fyfe.
In general, global economic uncertainty has made Canadians nervous and jittery over their stock investments. On the other hand, real estate offers something more solid.
In the Winnipeg market, over 1,500 REALTORS® are working towards satisfying buyers and sellers every day.
As a reminder of what REALTORS® bring to the table in all of their make up, experience, expertise and sheer determination, here is an article from the Calgary Real Estate Board that has been edited to reflect our local market:
Whether selling your home, or looking for a new one, the over 1,500 REALTORS® in Winnipeg and the surrounding area work together to help you! This REALTOR® network allows them to share information and resources that places you in the best position possible to secure the biggest financial investment most people experience in their lifetime.
Who is a REALTOR®?
Not all licensed or registered brokers and salespeople are REALTORS®. Only real estate licensees who are members of the Canadian Real Estate Association (CREA) are REALTORS®. These REALTORS® are committed to a high standard of professional conduct, ongoing education, and to a strict Code of Ethics and Standards of Business Practice. Using the service of a professional REALTOR® helps in disclosing maximum property information and facts therefore reducing your risk.
Teaming up with a REALTOR® provides you with invaluable access to professional real estate expertise and knowledge. You benefit because:
• Your REALTOR® can help determine your buying power and refer you to lenders best qualified to maximize your loan and minimize your cost.
• Your REALTOR® has full access to all the features of the Multiple Listing Service®, Canada's most powerful real estate marketing network.
• Your REALTOR® provides local community information on utilities, zoning, schools, etc. REALTORS® assist you in making the best choice selecting an environment where you and your family can grow.
• Your REALTOR® has a finger on the pulse of the housing market and is knowledgeable about developments and trends in real estate; and,
• Your REALTOR® has the facts on comparable pricing, neighbourhood trends and housing market conditions, data you can use to set your best course of action and maximize your home’s resale value when you are ready to sell.
• Your REALTOR® can negotiate the best deal. There are myriad negotiating factors, including price, financing, terms, date of possession and often the inclusion or exclusion of repairs, furnishings or equipment. By negotiation alone, your REALTOR® often saves you more than the cost of their service.
• Your REALTOR® assists you in providing due diligence to evaluate the property. This may include inspections for mould, dry rot, asbestos, faulty structure, roof condition, septic tank and well tests, just to name a few. Your REALTOR® can assist you in determining what conditions to recommend and assist in finding qualified professionals to investigate and provide report to you.
• Your REALTOR® can guide you through the sales process making sure everything flows smoothly from initial offer to closing.
• Your REALTOR® markets your property to other real estate agents and the public. Often REALTORS® will provide guidance on staging or repairs that enhance the salability of your property. Your REALTOR® will harness the power of the Multiple Listing Service® to expose your property to a large network of qualified buyers as well as coordinate marketing through the most effective array of other advertising media. Only REALTORS® have access to the marketing exposure of industry publications such as the Winnipeg Real Estate News and the Commercial Real Estate magazine.
You are protected when you work with a REALTOR® for a number of reasons:
• All REALTORS® are graduates of a real estate education program and are committed to pursuing ongoing professional development courses.
• REALTORS® must adhere to a strict code of ethics and standards of business practice, your guarantee of professional conduct and service excellence.
• All REALTORS® carry errors-and-omissions insurance.
• The Real Estate Assurance Fund is available to you in the rare event of fraud, or breach of trust by a REALTOR®. It is your protection against financial loss. This fund is financially supported by our members.
• A licensed brokerage supervises the business conduct of all REALTORS® to ensure their compliance with Manitoba law.
Why the registered “®” after the word REALTOR®?
Only REALTORS®, who are members of the Canadian Real Estate Association and a local real estate board, can call themselves REALTORS®. WinnipegREALTORS® members adhere to a strict code of ethics and standards of business practice, that non-board members and independent listing companies do not. REALTORS® take mandatory education every year to ensure that they are knowledgeable in every aspect of the ever changing real estate industry.