Do your Research!

Do your Research!

When you embark on buying or selling Real Estate it is important to hire a good team. It is very important to do your research when hiring your team. Don’t just take your friends word for it that this person is good. They might have been good and satisfactory for your friend, but your needs might be very different. 

Here are some easy steps to doing some quick research…

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It’s Business As Usual

It’s Business As Usual

Its been almost a year since the new changes have taken effect. The changes  were that agents can now post a home sellers contact information on MLS and charge whatever they want to post that information. (There is more but that is the gist of it)  While many people in the industry predicted the end of “The Real Estate agent” similar to how the Travel and tourism industry has drastically changed, there has not been a dramatic drop off in “Real Estate Agent” transactions. 

Independent For Sale By Owner companies did increase their market share this year, this result was not a direct result of the changes implemented by CREA last year. There can be many factors that directly influenced owners trying to sell their own houses. One stat that directly relates to this is the hot market in Canada. The trend in a hot market is for owners to sell their own homes. Many owners speculate on the market, throw a for sale sign on their lawn and see what they can get. This trend always shifts back when the market slows down and it takes more marketing and services to sell a house. 

Many news agencies and speculators expected agents to go out of business everywhere, the direct opposite happened. There was an increase in Real Estate agents coming into the market as well as Real Estate Brokerages. Some of those brokerages were discount offices but for the most part these companies did not have a major effect on the big companies.

The general consensus is that people do not want to sell their own houses, many sellers have realized that there is a lot of work to be done, many services that agents do provide, and many ancillary products that many agents do refer in the transaction. There will always be the do it your-selfers and the changes helped that niche market. 

One area that many sellers have expressed an increased desire is for the marketing aspect of their property. Sellers want their house on every possible marketing site, from social media sites to the obvious MLS. They want the latest in marketing technology and many expect it to be included in their general commission package. It is these types of requests that are driving the old and new Real Estate agents to sharpen their skills and upgrade their knowledge in the newest courses that the Real Estate boards are adding to their regular curriculum. The Real Estate boards and brokers are starting to realize that high tech marketing, social media and the latest technology are becoming common place and the industry must keep up or they are going to be dumped for these new and upcoming discount brokerages. 

Overall 2011 will be remembered for being a hot market year, increase in property values, and a year that the Real Estate industry became ever more competitive on every front.

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