• Remax-Condos-Plus
  • 26 July 2017

Today I want to talk about posted listings. Posted listings are those where a Seller wants to list their property on MLS. They pay a Broker a minimum fee to put it up then other brokers have to deal directly with the Seller. RECO says that this is all right. It used to be that when you listed a property, a REALTOR® had numerous obligations to the Seller and was liable for the information posted on MLS. Not anymore with posted listings. It's the wild, wild west! Deal with the Seller direct and try and figure out what they're selling. Many agents avoid posted listings altogether. It's too much work trying to educate the Seller. Those agents who attempt it, have to do both sides of the transaction. Represent your Buyer then do all the paperwork for a non-existent listing Brokerage i.e.: double the work for half the commission.

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  • Remax-Condos-Plus
  • 21 July 2017

June marked the third month in a row where sales declined from the previous month.

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  • Remax-Condos-Plus
  • 13 July 2017

Most of our blogs deal with Real Estate sales. That's our primary business. Today I want to talk about the rental market. Currently for every sale, there are 1.5 rentals being done downtown market. While the market is 50% bigger, I feel sorry for tenants. They need to get used to multiple offers. Rent controls won't help, they will only make the market worse. Landlords will even be more selective when choosing tenants. It's not just your income, but your lifestyle that will be scrutinized as well. In a sale, the one that offers the highest price is usually the winner. With tenants, you can offer the highest rent and still not get selected. So if you think the market is tight now, it will get even tighter down the road. Less new construction of condos and fewer condo buyers who want to rent their units out.

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Everyone knows that our real estate market has changed, except for Buyers and Sellers. Sellers think the prices of March and April are still happening today, wrong. Buyers think that prices are still going to drop by another $100,000, wrong again! So, what happens when Buyers and Sellers can't agree on a price? No sales. In fact, in June Sales have dropped by over 50%. In most markets, prices drop until demand and supply, (Buyers and Sellers) come into line. That is what economists forecast in every market, but not real estate. Sellers are speaking by not lowering their price, but canceling their listing and saying that they will come back next year. Buyers can wait and hope for further price drops, or they have an opportunity without multiple offers, to negotiate hard for their preferred property, today. So, even today some properties will sit on the market for months ... Read More

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