McClelland Minute - January 17, 2010

What to Expect from Your Realtor

I have to admit that on entering the business a number of years ago I was quite surprised at the range of skills a Realtor needs in order to be successful.  This career is not just sales; it is a wide range of interdependent professional competencies.  Since 98% of all property in Canada is sold with the support of a real estate brokerage, there is a good chance that if you haven’t used a Realtor yet, the time will come when you will. 

Members of the general public often don’t realize that the Multiple Listing Service and the national web site www.realtor.ca are completely maintained and funded by individual members of the Canadian Real Estate Association as a service to both buyers and sellers.  We are fortunate in this country that it spans all provinces; it usually only exists in a regional format in the United States, if at all.  (Unfortunately, it appears our federal government thinks that this successful program should also be made available to people who want to sell privately with no oversight from provincial regulatory commissions.  It is becoming a scenario similar to the old story of the Little Red Hen being penalized for her industrious nature – but I digress.)

Each year our Group informally interviews a random sample of past and present clients to determine how our service and business practice can be improved.  Last year over 92% of our buyers researched properties on-line before calling us.  What this means is that if you want to sell a property, a good description and lots of photos need to be displayed prominently in a place that prospective buyers can find them.  For this reason, in addition to the national site and our own www.mcclelland.ca, we place listings on up to ten other special interest websites; wherever we think it will attract the attention of a prospective buyer of that type of property.  Farmland isn’t advertised on recreation sites, and vice versa.

Most Realtors prefer to meet face to face with buyers before the beginning of their search to determine how ready they are to make an offer and to narrow down their specifications.  First time home buyers in particular need to be encouraged to obtain pre-approval from their mortgage broker of choice.  There is no use showing property that a buyer can’t afford or in a neighbourhood that won’t meet their family’s needs.  Our team will conduct an initial search plus place them on an automatic notification program that emails them daily with new listings that occur within their search parameters. Once potential properties are identified, private showings are arranged, and the buyer is supported throughout the balance of home buying process.

There are several important phases in the sales program for a property from the first visit to establish an accurate valuation to the implementation of a sensible marketing strategy followed by strong negotiations and completion activities.  This may be the biggest financial transaction an owner will encounter in their life, and it deserves full attention to detail.  A Realtor can not invent a buyer, but certain approaches will ensure that the prospects that are available will be exposed to the property in a timely way.

We will continue to see the practice of real estate brokerage evolve.  The results of our latest discussions with clients has given us clear direction for the future including expanding the use of technology in the practice and some great suggestions on the type of information that a buyer or seller would like available when making a property trade.

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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