This is part 3 of our three part series on Responsible home ownership (read part 1 here and part 2 here). We are living in a new economy in Calgary and because of this new economy we need to think a bit differently about the home buying process. As always- don't hesitate reach out if you have questions or concerns about buying a home.
A great Realtor can make a huge difference in the buying process and educating you about what you are buying. On the other hand, a Realtor who isn't aware of their limitations can be a huge detriment to a real estate transaction. For example: I don't sell/lease commercial real estate. I can, I am licensed to trade on the commercial side but it's not something I am knowledgeable in and it would not be in my client’s best interest. If a customer comes to me for a commercial deal, I will refer them to one of our partners who I know will take care of them. It's great for Realtors to want to learn and expand their skill set but it shouldn't be at the expense of the customer.
I met with a potential client last year who contacted me about selling their NW home. Our meeting started with him bragging about choosing his buying Realtor based on the closing gift she offered him (did you just roll your eyes? Yeah, me too). When we looked at the numbers it turns out he overpaid on the home by almost $20,000: he didn't care about the Realtor or their expertise and in turn the Realtor didn't seem to care about him either. We didn’t end up working together for fairly obvious reasons.
A wonderful client of ours owns a beautiful condo in Mission that she purchased before we met her. She has had some challenges with resale and wanted to change Realtors and get a fresh perspective. When she called us to list her condo she asked "how much potential re-sale should play a part when buying a home?" Her previous Realtor didn't talk about re-sale at all. My answer: All I really care about is potential resale. The way I look at it is if I sell you a home today and you call me in three years and we can't re-sell it...I didn't do my job in the first place; I was just looming for a commission.
I love selling Real Estate and I really enjoy working through the buying process with our clients; from first timers to experienced investors. Of course, we want your business...that's how we make out living. However, if you interview me to help you buy (or sell) a home and I am not the right person for the job I will be the first person to tell you.
That is the end of our three-part series on Responsible Home Buying. I hope my rambling has given you some good food for thought when you are considering your next home purchase. If you have any questions or want to talk about what you are looking for or have any feedback, I would love to buy you a coffee and chat.