The Time To Sell

by Andrew Murray on May 3, 2012

I’ve knocked on a lot of doors in the last month and the thing I’m hearing the most is “we want to wait so we can get more in a year.” Though this may be true, it’s also a truism. Property goes up in value, within a healthy market at least, between 4-7% each year depending on area. So that is a given.

There is, however, one small issue many potential sellers don’t realize. Whether they are downsizing or upsizing, the cost of real estate they purchase will ALSO cost more money. So any move will be lateral.

Another important factor is that interest rates are at a 50 year low. If they remain static then great! But they’re only going to go back up. Therefore, any extra money made from hanging on to your property another year to maximize your return, could easily be lost by a spike in interest rates.

I just had a client who sold his home, in a healthy market, bought into a new one while locked into a ten year term. The move is lateral, but this person will be clearing off a mortgage that is not sustainable, moving to a home better suited and securing a better rate.

So, with all these factors clearly favouring a move this year, why then would you wait?

If you or anyone you know is considering buying or selling real estate soon, please have them contact me and I will gladly help explain the process to help your referral make the most informed and important decision.

Please visit my website for more information:
Halifax Real Estate – A modern approach
902.880.1490

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New page created on the Shipbuilding effects on Housing

by Scott Grace on February 19, 2012

Happy Sunday everyone! I wanted too link to a new page I have created on the effects the shipbuilding contract will have on the Halifax Real Estate market. The Halifax Real Estate Market page can be found by clicking the link.
Shipbuilding Halifax Real Estate

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Best performance in North America

The EXIT Realty Professionals team recently was the best performer in our training activity “Farming Face to Face”. The team set more appointments with home sellers than any other office in North America! Way to go team!!!

Visit the Halifax Real Estate Listings website for more information and to view all of the new listings!

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Buy a home in Halifax

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Real Estate Agent Responsibilities

by Andrew Murray on January 25, 2012

You are entitled to — and should expect — competent service from your agent
Now that you have been introduced to different types of relationships buyers and sellers can engage in with a real estate agent, it is helpful to understand the associated responsibilities.

 

For your real estate agent, these responsibilities depend on the relationship agreed upon. The most extensive and involved relationship, in terms of responsibilities, is an agency/client relationship. Here’s what you should expect:

 

Undivided loyalty

 

The agent must act solely in your best interests, must always put your interests above their own and above the interests of other parties. This means, among other things, avoiding conflicts of interest and protecting your negotiating position at all times.

 

Confidentiality

 

The agent has a duty to keep your confidences. Confidential information includes any information concerning you, the property or the transaction that has not required by law to be disclosed, but which, if disclosed, could be used by another party to your disadvantage. It is important to note that the duty of confidentiality continues even after the agency relationship ends.

 

Full disclosure

 

The agent must inform you of all known facts that might affect your relationship or influence your decision in a real estate transaction. This includes any conflicts of interest the agent might have in the course of providing services to you.

 

The agent should not decide whether the information is important to you and is obligated to disclose all relevant information. An exception to full disclosure to you is confidential information your agent may have gathered from a past client in a previous agency relationship, unless the previous client agrees in writing.

 

Obedience

 

As long as instructions are reasonable and ordinary under the circumstances, the agent must obey all of your lawful instructions. If you ask the agent to do something unlawful, the agent would be obliged to refuse and consider terminating the relationship and existing service agreement.

 

Reasonable care and skill

 

The agent must exercise reasonable care and skill in performing all assigned duties. The agent is expected to meet the standard of care that a reasonable and competent industry member would exercise in a similar situation.

 

Full accounting

 

The agent must account for all money and property placed in his or her hands while acting on your behalf. As licensed professionals, real estate industry members are further bound by statutory obligations that are set out in the real estate trading act and commission by-law.

 

These obligations reinforce the common law duties described above. You are entitled to — and should expect — competent service from your agent, knowing that the brokerage and its representatives are bound by the law to be honest in every real estate transaction.

 

It is important for buyers and sellers to be aware of these obligations so they can make informed decisions. The surest path to success is to ask questions and be sure you are satisfied with the answers before you enter into a relationship with a specific brokerage.

 

The Nova Scotia Association of REALTORS® represents more than 1,700 brokers, salespeople and affiliate members throughout the province. REALTOR® is a trademark, which identifies real estate professionals who are members of The Canadian Real Estate Association and, as such, subscribe to a high standard of professional service and a strict code of ethics.

 

Posted by Halifax Real Estate – A modern Approach

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