Three things to include on you house hunting 'to do' list!

1. Be sure you sign a Buyer Agency Agreement. This is the single most important thing you can do to level the playing field. more...

2. Be sure you approach the market with a real plan. You will find the property you want. When you do, will you be in a position to act confidently and in a timely manner? The best plan is one that will most quickly provide you with a strong sense of market value.more...

3. Use a Realtor, and get that Realtor working hard for you. Realtors are involved in dozens of real estate transaction every year - more than you will in a lifetime. Take advantage of that experience. Make them work for their commission. more...

The real estate industry is changing!

How it works...

"To act as the Buyer's advocate by protecting and promoting the Buyer's best interest - the agent's duties include: confidentiality, undivided loyalty, to obey all lawful instructions of the Buyer, to exercise reasonable care and skill, to account for all money and property, to disclose all facts, if known, any information relevant to the transaction, to abide by the Code of Ethics and Standards of Business Practices of the Canadian Real Estate Association and the By-Laws and MLS® Rules and Regulations of the Nova Scotia Association of REALTORS, the Nova Scotia Real Estate Commission and Rules and Regulations of any other authority with jurisdiction."

Why does this matter?

The traditional real estate transaction is one in which a property owner enters into a written agreement with a company licenced to trade in real estate. Although individual sales people are often called Real Estate Agents, in actual fact the company is the 'agent'.
The traditional listing agreement creates an legal, 'agency' relationship between the seller and the company that benefits the seller and includes specific duties that both parties owe to the other. The REALTOR® has specific duties to the seller that include, among others:

• To protect the Principal's (sellers') negotiating position at all times, and disclose all known facts which may affect or influence the Principal's (sellers') decision (undivided loyalty) and,

• To keep the confidences of the Principal (seller).

If you have not entered into either a Buyer Agency or a Limited Dual Agency Agreement the agents involved in your transaction are working for the seller!

What does this plan do?

This plan supports the central strategy of having home buyers to find themselves, as quickly as possible, in a position to make an informed and effective offer on the property of their choice. We are talking about understanding market value. We are talking about you, the buyer, finding a property you want to buy, and knowing how much it's worth.

If that seems ambitious consider that in 40 hours, someone turned me into an aircraft pilot. Not a professional pilot, but someone who they believed could be trusted to get an aircraft back on the ground safely.

Real estate is a complicated market in many respects!

Even within three or four years of the development of a new subdivision, individual homes will be noticeably different from others in the same subdivision and indeed on the same street. Some homes will exhibit new and attractive upgrades, others will have lost some of their attractiveness for one reason or another.

Many buyers approach this complex market without any real system, "following their nose", relying on the internet, "Open House" ads, and the advertising in various publications which carry real estate advertising.

This approach, with the lack of a clear 'system' has several weaknesses:

· First, and foremost it relies far too heavily on a description of a property crafted by an individual who has a duty and a personal interest in attracting prospective buyers (like you) to that property. Real Estate agents make every effort to promote the benefits and feature of a property. They make every reasonable effort to minimize weaknesses or distractions. They're trying to get you to call them to come see this property.

· Second, without an effective system you will spend more time and take considerably longer to develop a sense of 'market value'. One of the biggest problems is the uncertainty caused by even marginally unsuitable properties. If you don't have a way to eliminate unsuitable properties, these 'weeds' will distract you - making it a little harder to see the pattern that 'market value' represents. 

Use a Realtor^® - Make them work!

One of the benefits of a Realtor^® is that he or she can make sure that the time you spend viewing properties is well spent. Early in the hunt you should expect to see properties that represent good market value. They should be an average or better condition and without any significant weakness - either in location or with respect to any other feature or requirement that you have discussed with your Realtor^®.

If you are shown a house that leaves you wondering why you're standing there, the Realtor^®  certainly hasn't previewed the home, and probably can't give you a reasonable reason why he or she selected it. The Realtor^® should have a good reason for showing a particular property… every property, something specific to show you that assists you in understanding market value.

There's actually a little more to this plan...

The best way to find out more is to sit with me for an hour.

I use this plan because in doing so, I don't ever finding myself trying to talk someone into buying a house. And it is very rare that someone I'm working with will be very unsure about market value when they go to make an offer.

Give me a call... ask me every question you can think of. I totally enjoy this work and I'm be happy to tell you why!