Category: Buying (7)

MLS-listingsIt’s difficult for any Home Buyer to make a final decision until they have been exposed to ALL the available Real Estate Listings and be assured that they did not miss a better home. Today your real estate agent has a host of technology available to assist Home Buyers in their search. Properly deployed, these technologies ensure that all available listings are at your disposal and that a Buyer is not overburdened or confused by viewing property that does not fit their criteria. Your REALTOR® has access to your local Multiple Listing System (MLS®) where they post available listings for other cooperating agents to view and sell. This is a local private database which is available to REALTOR® members of organized real estate. For example, members of the Calgary Real Estate Board (CREB) host a local database of available listings from their over 5,000 REALTOR® members. These REALTORS® are required to abide by rules governing their use of data, business ethics and how they cooperate. This system enables members to have access to all the new listings immediately when they are entered into the system . Access to this system ensures that you have the most up to date information and assures that you are seeing all the listings Real Estate Listings currently available on the MLS®.

Your agent should be able to set up a custom search for you that will email you this information immediately. Alternately, there are many sites that allow to you locate new listings manually or allow you to sign up for automatic updates. Armed with this information and a great Real Estate Agent, you can be assured to stay on top of all the new listings, the minute they come on to the market and not be overburdened by information on homes that do not fit your criteria.

market value of home

Before you can make an informed decision about selling your home you often need to verify the Market Value of your Home. Market Value is defined as the price that you could expect to sell your Home on the open market given a normal period of exposure. Receiving an accurate estimate of the Market Value can be crucial if your next purchase depends on the equity in your existing home, or if your finances allow little margin for error. What then is the best method of obtaining the most accurate estimate of Market Value?

There are several routes to obtaining  an estimate of market value and a handful of methods which can be employed, most based on accepted appraisal practice. One method would be to simply hire a Certified Appraiser to complete a “market value” appraisal of your home.  Appraisers will prepare market value appraisals and are bound by guidelines to use similar comparable properties which have sold in the past six months. A market value appraisal is just that: an estimate of what the property would fetch on the open market and this typically is the most applicable. Other types of appraisals include income valuations, which are generally used in income producing property and replacement cost, which is applicable for insurance valuation. To have an appraisal prepared you would contact a certified appraiser from the Appraisal Institute of Canada.

Some homeowners base their value on their City Assessment and while this can provide a rough estimate, these values can range widely and should not be used as a reliable indicator or your current market value. City Assessments are based on a model of mass appraisal which estimates the broad value of your type of home based on similar homes in your surrounding area.

The third method would be to use the services of an experienced Real Estate Agent to evaluate the market value. The advantage of this method is that while Appraisers are bound to use historical methods to estimate the value of your home at the present time, an agent can draw upon the same broad base of comparable sales and can extrapolate into the the future based on current market conditions. This is very important in a rapidly changing market (of rising or declining values) where  you need to know the value based on the intricacies of a complex local market which is in flux. Using this local and up to the minute intelligence, an experienced agent can ensure that you extract every dollar of value and don’t leave any money on the table in an increasing market. Similarly when the market is declining, a good Agent will provide knowledge that will place you ahead of the market and allow you to sell before the market declines.
The disadvantage of using an agent is simply the nature of the industry where there are hundreds of agents with a variety of skill sets and competencies competing for your business. This makes it important that you use the most knowledgeable, experienced and trustworthy agent to ensure that the agent does not simply “buy your business” by giving you a favorable number that appeases you and then lets you down later when the market provides you the stark reality of your homes value.

Sano Stante Real Estate  provides premium real estate service to discerning Calgary area clientele for over 30 years. If you are thinking of selling, call us to receive an expert market evaluation of your home.

 

important to look for when buying a home

buying a home

What is most important to look for when buying a home has much to do with the Buyer’s lifestyle and stage in life, as well as a other factors that experienced real estate agents evaluate.
To flesh out these nuances, ensure that you spend ample time with your real estate agent in a Buyer review. This is an interview where you review every aspect of buying a home, ensuring that there are no issues that would preclude you from buying your home, determining the best criteria for your new home, and  educating you on the entire process from start to finish.

Following this review you should have a solid foundation and comfort with the process you will be undertaking, a detailed understanding of the criteria you require in a home, and knowledge of how to go about selecting the best property. Essentially, after this review, all that is remaining for you is to pick the property that you “love” because you will only be viewing homes that fit all of your criteria – making the selection process that much easier and saving you an enormous amount of time.

The one common theme that emerges from these reviews which highlights what is most important to look for when buying is to “buy what you can’t change”

What do we mean by this?

Aspects of a property that you cannot change would be:

  • Location and surrounding neighbourhood
  • Zoning, restrictions, bylaws and regulations
  • Other factors that are outside of your control or too onerous to change such as major structural issues.

The components of a property that you can change are:

  • Cosmetics (paint, flooring and decorating)
  • Minor plan shifting (moving or opening a few walls)
  • Non-structural repairs
  • Landscaping

Often the best value can be discovered hidden in properties that are the less appealing, but with issues that are easily overcome. Conversely some of the biggest problems we have witnessed arise from properties that had lots of surface appeal masking a location issue, structural problem or other permanent condition. It”s easy to fall prey to these, so be certain to rely on an experienced real estate agent to guide you past these and shed light on the more important aspects of a property. Also, ensure that you insist on a home inspection as a condition of the purchase to ensure that you discover any serious issues that may be hidden beyond obvious sight.

There are more permutations and quirks to buying the right home than can be described in a synopsis, however a very important point is to ensure that you get the best representation on your side. Choosing the best real estate agent to find the perfect home won”t cost you any more and can save you much more than dollars – it can affect the rest of your life. Sano Stante real estate group has provided over three decades of expert real estate service to thousands of satisfied homeowners. We can help – call us.

 

If the other company is a member of a cooperative Multiple Listing Service® (MLS®)  which your  Agent belongs, then they share listing information to all members. For Sale By Owner (FSBO) properties are not listed in MLS® so an agent would be required to contact the Owner to receive the property information and if you are working with your Agent under a buyer agency agreement, your agent may be able to help you purchase a FSBO.

Sometimes if you call on a sign, an listing agent may entice you to work through them “exclusively”.  Be aware that the Listing Realtor may be obligated to provide fiduciary duties to you (look after your best interest) and you may be treated as simply a customer.  If you have an Agent or REALTOR® that you know and trust, you should always check with them first or simply insist that you will be represented by your REALTOR® and that your REALTOR® will contact them to obtain further information. Almost always the Seller has a commission or fee allocated to the Buyers agent. The only incentive for dealing exclusively is for the listing agent who hopes to be paid the buyer agent portion of the commission also. By insisting on represntation you can ensure that your interests will be best represented and that you agent is paid for his work further enhancing your working relationship with your chosen agent.

The purchase of a home is one of the most important decisions that most of us will ever make. When selling a home, most people are aware of the listing agreement between the seller and a real estate agent which spells out the services and duties that  your real estate agent  will perform, but did you know that there is also an agreement that guarantees the services you will receive from your real estate agent when buying a property? It’s called a Buyer Representation Agreement (B.R.A.).

The B.R.A. is a contract between you, as a buyer, and your real estate agent. This agreement helps to ensure you will receive the very best “Client Service” and representation your real estate agent has to offer, rather than regular “Customer Service”. To fully understand the benefits of a B.R.A., it’s important to note the difference between Customer and Client Service in the real estate agent/buyer relationship.

In the Client Service buyer relationship, you enter into the B.R.A. knowing the real estate agent is taking a vested interest in your buying experience. You are becoming your real estate agent’s client and they is working exclusively for you. Your real estate agent will work with you to discover your needs, help find the best property for you, notify you of all new listings (including properties not listed or for sale privately), will provide you with expert advice, facts and comparisons to other properties, and will be instrumental in the negotiating your purchase; providing advice such as offering price counseling, financing alternatives and actively negotiating exclusively on your behalf.

As a Customers Service buyer, we can expect a real estate agent to show us the requested listing, present the material facts about the property, and show us properties within the criteria we have provided. What we need to realize is that in this relationship, the real estate agent may be previously contracted to work in the best interests of another client and
this may be the seller of the property. In any event, as a Customer the real estate agent is always ensured to provide you, the buyer, a good sales experience. Additionally, you should expect that the status of these relationships will always be disclosed to you by your real estate agent.

The Client Service buyer relationship is more involved. This relationship differs from the Customer service buyer relationship in
that it empowers your real estate agent to utilize his or her skills through all stages of the real estate transaction, and leaving ‘no stone unturned’ when it comes to your home purchasing experience.

Signing a B.R.A. does not mean you have to buy anything. It simply states that if you do purchase a home during the term of your contract, you will use this particular brokerage and that they will be compensated for the services they have provided. It also does not require you to pay up front when this compensation is most often included in the sale price through the cooperating listing contract. Alternately, you may chose to pay the fees directly thereby deducting this component from the sale price. You can also use a B.R.A. to ‘test drive’ your real estate agent. You and your real estate agent can determine the length of the contract and ensure that you and your real estate agent feel this relationship is a good fit for both of you.

When you are buying your home, why not receive the best representation possible? In one of your most important decisions of your life, signing a B.R.A. ensures that you have your selected real estate agent representing your best interests in your home purchase and that your real estate agent is working exclusively for you.

It seems amazing at times how we can entrust one of the largest decisions and investments of our lives to a perfect stranger. Maybe we go through a short interview process, see if we connect with the person in a short matter of time, or many times we follow the advice of a colleague or co-worker and hope for the best. If you were lucky enough to have them refer you to Sano and his team then you are in good hands, but really how well do you know Sano?

Sano offers his clients over 30 years of experience in the Calgary Real Estate market. Amazingly, after all that time, he has become more passionate about the industry, his clients and their needs.  Along the way he committed seven years striving to improve the professionalism in the industry as a Director of the Calgary Real Estate Board and was elected the CREB President in 2011 and an honorary life member in 2012. A recipient of almost every Real Estate award, Real Estate has not been just a career for him, but a passion. This is important to understand because in Calgary alone there are currently 5150+ REALTORS®  many who are not full-time professionals. There is a rule of thumb that is known within the Real Estate industry and stands true to this day; less than 20% of agents do over 80% of the Real Estate business! Given the complexity and seriousness of a major Real Estate transaction,  one must ask themselves if the person they are choosing to represent them falls into this elite group of professionals.

Sano has built his business from the ground up based on repeat clientele, referrals and reputation. The most important measure of success, as echoed by Sano on many occasions, is when a client refers their loved ones and friends to our services—a compliment towering over any award.

Now, some might think that’s enough—a busy family office with several Associates, countless hours spent working within the industry and with his clients to ensure their getting the most of his services, but not for Sano. A consummate professional who continually keeps himself and his team up with the newest trends and marketing strategies, Sano’s vision of service to the clients of Sano Stante Real Estate Group (SSRE) really is at the pinnacle of the industry and the results of SSRE are a testament to this.

As a past or future client of Sano Stante Real Estate Marketing, we encourage you to see why Sano,  is ranked one of the top REALTORS® in Calgary, in the #1 Remax office worldwide. Along with Dan Stante and an outstanding team of administrative associates they share one goal—to provide the best possible service and build upon a stellar reputation already proven through the test of time.

Allow us to re-introduce ourselves to you and provide you with our award winning services for your next real estate transaction. If the finest professional expert advice and negotiation skills are what you demand, we deliver and for the same cost or less than competing agencies! Call us today to put the best real estate service to work for you today.