Show Me The Money!!

"If we can't tell you how we spent your money, we don't deserve it."

Ever been to the dentist? When you leave you get an itemized bill explaining exactly what was done and how much you were charged for each procedure. Imagine your bill just read

Dental Visit - $1,243.78


Now imagine the letter that would come back with your insurance claim.

DENIED - Insufficient Data


When you get a bill from your lawyer take a close look. Everything is itemized, right down to faxes, phone calls, and photocopying.


On your next real estate transaction look at the line related to commissions, assuming that you are not in the 25% of people buying and selling privately.

How exactly was the money spent? Is his golf membership listed? What about the Porche and Range Rover? Maybe her spa and manicure day? No no I am sure it cost plenty to put that crooked sign on your lawn. Ohh and the listing on the internet with the WONDERFUL photos of your kitchen table and the railing of your deck must have cost big! Did you see your house in the paper? It was just under the part that said he was "Top 1% in the world" and how he has "sold over $400 Million in real estate".

Let's be honest, if I am going to cut you a cheque for $15,000 I want you to justify it. The real estate model that my parents knew is archaic. The 5-7% commission system was built to feed a hungry machine. If only 30% - 50% of homes are selling then the few that sell are paying for all the others to try.

If you price your home right and it sells then the guy up the street decides to "try the market" and over prices by $20,000. You just paid for his advertising. Hope he said thank you.

Next time you sell a home and are thinking of using an agent ask for a detailed break down of how your commission is to be used. Tell them to include the dollars and cents specific to your house. Tell them to "Show You The Money!!"



I promise. No more Tom Cruise this week!

M

You Can't Handle The Truth!!

If it walks like a duck it probably is, right?

Real estate agents are really nice people. They come over to your house, hold your hand through a stressful situation, explain all the complicated terms like closing costs, land transfer tax and conditional offer.

If you ever feel the need to talk with an agent, list your home for sale privately. They will be falling over themselves to get your attention. Calls, emails, letters, bottles of wine (Thanks Mr. Brown!).

Agents are the first to tell you all the scary issues that are looming without them. Even their ads in the paper likening themselves to surgeons. Maybe you've seen it? "Sure, you could sell your own home. You could also do your own appendectomy." I love that one.

In A Few Good Men, Jack Nicholson immortalized Col. Jessop. Remember "You want me on that wall. You need me on that wall."



How dare we live in homes within the very market that agents provide and then question they way in which they provide it. Just pay your 5% and say thank you and go on your way. Otherwise pick up a sign and put it on your post.

Either way you'll sell.

M

Winter Real Estate: Can You Sell a Gift Wrapped House?

Door bells ring, are you listening.

It's the elusive winter home buyer!

We often hear that the spring is the best time to sell a house. If you try selling in mid winter you are crazy......nutty.....looney. Fact is many homes continue to be sold through this time. December - February accounted for 18.16% of all the property sold in Waterloo-Wellington over the last 12 months. In contrast March - May equalled 31.07% of all home sales over the same period. No one would claim that the winter would be better in the summer right?

Why not?

Your house is decorated nice, it's practically gift wrapped. It smells like turkey and pine half the time. Most people are feeling rather festive with the holidays around.

Don't discount this time of year. Almost 1/5th of all homes sold last year were sold during this time. For the buyer it is a great time to shop as well. People that went on the market after the summer hoping to catch a wave are now anxious to sell. They are adjusting their prices and looking for the right hook to draw in the buyer.

As the houses grow stale the buyers look for that new property, fresh on the market. Like a child bounding towards the impending mess of the presents they leap and hastily put in an offer on the "new house" up the street from the one they have been watching.

Is it your house being unwrapped this holiday season?

Give the gift of real estate.


Just make sure you dig out your sign!

M