Building a new home – budgeting!

Where is the value in real estate commissions? Do you see the value?

Does it make sense that it costs the same amount to sell a home as it costs to frame the home? As a REALTOR® it doesn’t really make sense to me, does it make sense to you?

The buyers look for the most motivated seller and best possible value!

Buyers buy from the most motivated sellers and those transactions set market price.

Single Family Home versus Townhome? Pros and Cons!

In general, with a townhome you get more quality interior living space; however, there are trade-offs such as less yard space, strata fees, and bylaw restrictions.

What to look for in a Mere Posting, aka Flat Fee MLS®, listing package?

Three key things too look for in my opinion.

1/ Cost and structure of cost
2/ What’s included?
3/ Performance/success rate of the company offering the mere posting package.

Mere Postings, aka Flat Fee MLS®, market share growing slowly in Victoria, B.C?

In 2013 there were approximately 80 mere postings listed in with the Victoria Real Estate Board, for 2014 that number will be approximately 90 mere postings. Personally, I’ve doubled my mere posting sales year over year and hope to continue the trend in 2015.

What cooperating commission (buyers’ REALTOR® commission) is being offered in Victoria, B.C?

96% plus more of the time the cooperating commission offered is 3.0%100k+1.5%balance, or more!

Why are brand new home so expensive? More and more regulation ever year!

Engineering, Home Protection Office, municipal requirements, and more have made new home construction a lot more expensive than in the past.

The listing REALTOR®/Agent doesn’t actually sell the property the majority of the time!

Raw numbers indicate that more than 90% of the time a buyer’s REALTOR® represents the buyer on a purchase; therefore, why are many sellers paying the listing REALTOR® half of the commission if numbers show the REALTORS® listing very rarely actually sell the property themselves? Food for thought.

Victoria, B.C. Real Estate – The flattest real estate market in the country!

If you bought a home in Victoria seven years ago it’s probably worth a similar amount plus or minus a few percent. If you bought a home in Toronto seven years ago you are up approximately 45% and Vancouver up 25%. However, if you are buying now into the Victoria market the flatness and underperformance of our market is not necessarily a bad thing in my opinion.