According to the powers that be, we are not supposed to help the seller of a property price their home below market value to create a bidding war as this is misleading to the consumer. This is understandable as no one wants to be told that something is a dollar only to find out that its 2 dollars. The reality of the current marketplace in Winnipeg is there are more buyers than sellers, thus more demand than supply. When this happens, it is almost a certainty that people will ultimately pay whatever it is they have to in order to get what they want. The Winnipeg Jets are a good example of this. Check the ads online for the cost of tickets. They are well over what the face value is and people will pay to go and watch professional hockey. Given the opportunity to represent a seller in today’s market place, I will provide them with all of the information to help them make a good decision. This would include historical data as to when the best time of year to sell would be, the asking and selling prices of homes similar to theirs, the prices of homes similar to theirs that failed to sell and the strategies involved in marketing once the property hits the market and until showings begin and offers are accepted. Once offers are received then we revert to the strategy outlined in a previous blog to make sure the seller ekes out every last penny from their home. This is a fairly straight forward process; however, sales people are not all created equal. What works for one, may not for another. It’s all about communication. Tell the consumer everything and let the consumer make the decisions based on their needs and our professional guidance. With over 2600 sales in my career, experience, honesty and integrity can many times put more money in the consumers pockets than selling on their own can. No obligation consultations are available anytime.

As mentioned in my last blog, finding a home in Winnipeg over the last 10 years has proven to be a challenge for many buyers. In this blog I will share some strategies to help you minimize the stress involved in securing a home and winning at the bid war game. You can avoid the bidding wars game altogether, but this involves patience and will be the topic for a future blog. The 1^st step is to be 100% sure of your financial capabilities. In many cases it is a waste of time to get into a bid war on a home that is priced at the same amount of your maximum pre-qualification. This will in fact help the seller get more money for their home as your bid will be limited to the asking price and your qualified amount, thus creating a potential for others to bid above you. This would be a fantastic time for your agent to assess the situation and if there are no offers at offers date and time, strike! Another situation that I see regularly is an offer with many conditions when you are competing against other offers. I do not suggest that you make your offer “condition free” what I am suggesting is that the more conditions on your offer, the less likely it will be chosen as the eventual winner. A home inspection for instance can be done prior to the offer date. You can employ some home inspectors to do a quick walk through and a verbal report for far less than the regular fee charged which includes a comprehensive report. They will also do a 2^nd and a 3^rd inspection at a reasonable cost. The financing condition is perhaps the most problematic and least understood of all the conditions. This can make or break the deal. It is not impossible to make an offer without the financing condition and yet cover your behind with the proper wording to any offer. This wording will depend on your financial capabilities and a discussion between a knowledgeable, aggressive banker and agent will create a clear understanding of how to formulate the offer so that it is as strong as possible without compromising your situation. At the offer presentation stage, communication is a key component between agents. Some agents acting for the seller do no have the time (although they should) to comb through multiple offers over a 2 hour period or whatever time it takes. This is in the best interests of the seller. In these cases, when your properly written offer is presented to the vendor, it could and should give you, the buyer, one last chance to make a final change to your offer. Sometimes it is a matter of a few thousand dollars which in the big picture could be less than 1% of the eventual selling price. A small price to pay for the home you have identified as an exact match to your criteria.  A High Level of Service is Not Expensive..Its Priceless!

Purchasing a home in Winnipeg over the last 10 years has proven to be a challenge for many. I have heard of cases where as many as 16 offers have been made before a buyer has been successful. How does one put the odds in their favor? Buying a home is a process, not an event in any market in any city. Preparation and understanding the rules of engagement are key. Whether trying to buy a home privately or through a real estate agent, you must get your ducks in order starting with financing. This is the critical 1^st step. There are some very good rates out there and looking at just one option could prove costly. Many times, you can save thousands over the life of a mortgage by simply tweaking one small item. Once you have been qualified, the next step is determining how much you want to spend and the areas where you want to live. Research is the key. You can find lots of great information on the web, or you can hire a real estate agent to help you determine what is best for you. The problem with the latter choice is like all salespeople, most of them have the equation back wards and they forget that this whole exercise is about and for YOU, not them. After 23 years of being in this industry, it does not surprise me when I read about statistics from a recent poll that determined 69% of the people who dealt with a real estate agent would not go back to the same person. The main reason..COMMUNICATION. Take the time to meet with some one before you go out and look at any house. Determine through questions that they are going to represent YOUR best interests at ALL times. Simply calling an agent who has a property for sale is a recipe for disaster; after all, they are not in a position to represent your best interests. Unfortunately, many of my peers do not tell this to the consumer which leads to problems down the road and the 69% ratio of unhappy consumers. For a Strategic Recipe on How to Avoid Bidding Wars, drop me an email. I welcome your thoughts and comments. A High Level of Service is not Expensive..Its Priceless.

Two evenings ago, I had the privilege of representing an estate and we received multiple offers, 4 to be exact. Extracting the most amount of money from this opportunity is what the client pays for. This is done by making sure all buying parties are aware of the situation either through us or through their representative. Once all parties are aware of the number of offers and had the opportunity to make any adjustments to their offer, they are presented to the vendor or representative of the vendor in the order they are received. Upon review, any items that are not clear on the offer are clarified. The best offer is not always the clear winner. After all, my responsibility lies in the sellers’ best interest. Is the second, third or fourth offer prepared to pay more or prepared to remove conditions that may make their offer better in the end. The key to the situation is to clearly communicate ALL options available to the vendor and allow them to make an educated decision as to what is in their best interest! Unfortunately there are more losers than winners in a multiple offer situation. It is a tough situation for a buyer to find themselves in. At the end of the day, the vendor will typically benefit from this situation and did! The key is to make sure that all parties are given a fair chance to amend their offer if they choose to and the sellers (and no one else’s) best interests are looked after at all times. The property sold for $17,600 over list price. Need a recipe for a successful Real Estate Transaction?

According to psychologists, relocation ranks 3^rd on the stress ladder behind death and divorce? It is possible to have a stress free closing on a home purchase or sale. It all begins with the very 1st meeting. Expectations of a consumer are paramount. Is this a 1^st time or a seasoned buyer or seller? Identifying concerns from past experiences or some one else’s experience is key. Help the customer understand that the closing is simply part of the process.  There are time tested techniques for a stress free close; however, there will always be unforeseen problems. No one individual or company can control an entire process from start to finish. The selling agent and buyer have no control over the seller and conversely the listing agent and seller have no control over the buyer. A job loss or deportations are 2 of the problems that can occur at closing. The key in every situation is to be prepared to tell the client the truth from the very beginning. The 1st meeting is critical. A complete overview of the process and a discussion regarding unforeseen circumstances will help the consumer understand. Do you need a recipe for a successful Real Estate experience? I look forward to your thoughts or comments.

Welcome to my 1st blog of 2012. My mission with my blogs are to help people identify problems before they occur. I want to share all of my successful real estate recipes with you. Every day I see problems with transactions of home sales due to small details that have been overlooked. The intentions of my blogs are to help people unfamiliar with a process. The purchase or sale of a home is a stressful time. With proper education, expectations can be identified, goals and desires can be determined and most importantly an assessment can be made which helps the true professional create a roadmap of what the customer can expect. It involves a lot if information, but who wants a surprise? The best surprise is no surprise! In my future blogs, I will share some secrets to a stress free relocation anywhere in the world. I look forward to your comments, feedback, concerns and questions.