McClelland Minute - September 6, 2009

A Few Do’s and Don’ts

It has been an interesting year so far, with a new experience seemingly around every corner.  If I may be so bold as to offer some candid advice, particularly to those involved in buying or selling real estate for the first time, it may save both you and me some pain (and money).

If you are planning to build a spec house, sit down with your Realtor first to see what is selling in the local market.  Once you have a floor design and location, come back for a second consultation.  Another set of eyes won’t hurt.  For example, in my personal opinion, houses built for mature adults should have two bathrooms, and at least two bedrooms, along with the option for a laundry station, on the main level.  Too often people build for their own tastes rather than the buyer group(s) they are targeting.  The objective here is to sell for a profit in a timely manner isn’t it?

I know you are excited about the prospect of making that first home purchase but, please, please, don’t put your choice on FaceBook for the world to see before having an accepted offer in place. Someone within your circle of friends may just know the owner, who now feels they are in the position to bargain a little harder; or maybe, just maybe, a friend of a friend who is also interested in that address may make an offer before you get yours in.  Don’t believe me?  Both happened this summer.  Some things in life are still best left private.

If you want an opinion of value for your property because you are considering putting it on the market, just call and say so.  Most Realtors will be happy to prepare an analysis and sit down with you to discuss marketing.  Call an appraiser if you require a written valuation for estate planning, mortgage financing, or to prepare your property for sale privately.  There are a number of appraisal firms available in the region to assist you.  Even though Realtors and appraisers have similar training, our provincial professional associations have agreed not to work in each other’s area of expertise.   

You lead a busy life – work, family, and friends take up a good part of your day.  It is hard to fit house hunting into the schedule. Regardless, it is important to be considerate of others, especially those families with children.  In my humble opinion, no one needs to see a house after 8:00 PM in the evening. Last week a young lady called me at 7:50 PM wanting to see a listing ten minutes later.  It so happened that this was a convenient time for her as her children were away for the evening. After expressing my thoughts on the time of the showing, we were able to accommodate her at an earlier time the next evening.

Expect to negotiate in today’s market.  Some offers may go back and forth a half dozen times before the deal is fully explored.  Always remain respectful.  I learned early in my career from a veteran Realtor not to pull something back off the table that had already been agreed to.  If you can’t put a deal together, thank the other party for their time.  You never know, if the other side doesn’t agree with you today, they may have second thoughts by tomorrow and bend your way.

Vern McClelland is associate broker with RE/MAX of Lloydminster.  If you have questions or comments on this article or other real estate matters, he can be reached at 780.808.2700 or through the McClelland Group website www.mcclelland.ca

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