Calgary Real Estate Commissions - Who pays and how much?

This 7 and 3 table shows you what we see in Calgary on most listings. However, it is against the law to fix commissions at set rates. Commissions are negotiable. 7% on the first $100,000 of the sale price plus 3% on the balance of the sale price is what the table below is based on. Whatever the seller and the listing agent agree to for commissions becomes part of the total sale price listed on the MLS® system. The seller's agent and the seller then usually offer a buyer's Realtor® 3.5% on the first $100,000 and 1.5% on the balance of the sale price if they have a buyer for the property. So yes the commissions may seem high and if it was going to only one Realtor®, I would agree. Realtors® generally split the commission whatever it may be and like everyone else that gets a paycheck is required to pay taxes and other expenses.

Every home listed on MLS® that has sold or is for sale has the commission component built into the price. To further put some perspective on what Realtors earn, there are over 5,700 Licenced Realtors registered with the Calgary Real Estate Board fighting over less than a couple of thousand deals most months. It's a job at the end of the day which for Realtors® is not 9 to 5 Mon to Fri with a few weeks vacation and a pension!

It's a good thing I enjoy helping people because if I was in this for the money I would have moved on long ago!

Finding the Perfect Home When Options Seem Limited

We've all been there - the excitement of hunting for a new home, armed with a dream list of features. Yet, the real estate market doesn't always align with our wishes. So, what can you do when no available homes tick all your boxes?

1. Reassess Your Must-Haves

Begin by revisiting your list. While it's great to aim for perfection, sometimes flexibility can open up a broader range of possibilities. Question the necessity of each feature. Perhaps a gourmet kitchen was on your wish list, but could a slightly smaller one suffice if the home shines in other areas?

2. The Potential of Renovations

Look beyond the present. Some homes might not be perfect now but possess the potential to be. Can you add a feature you desire later on? A house without a finished basement or hardwood floors can be upgraded down the line. Investing in improvements can make an almost-perfect house your dream home.

3. Monitor Market Movements

Real estate is a dynamic market. New listings pop up regularly. If the current options don't align with your desires, don't lose hope. More homes could be listed soon, and the perfect one might be just around the corner.

Stay ahead of other buyers by setting up immediate alerts for new listings that match your criteria. In the fast-paced world of real estate, being quick on the draw can make all the difference.

In Conclusion

Finding a home that meets every specification can be challenging. But remember, with a mix of flexibility, foresight, and prompt action, you can secure a home that meets most, if not all, of your desired features. After all, the journey to your dream home is all about balance!

#Home buying, #real estate market, #property features, #home renovations, #real estate listings

If You Are Thinking of Selling your Calgary home....

Here are our TOP 5 TIPS for a successful sale

1. Connect with a Full-Time Active Realtor®. A Calgary Realtor who has local, in-depth knowledge of the Community Market you are planning to list in.

2. With your Realtor®, create and follow a customized pre-listing plan which will include items such as decluttering, depersonalization and staging preparation;

3. Review a pricing analysis with your to determine the best position for your home within the local marketplace. A true professional will explain the strategy behind pricing recommendations; 

4. Release a perfect property presentation to the marketplace!!! This could include professional photography, drone images, video, 3D tour & floor plans.

5. Prepare for showings! I'd love to suggest a mini-vacation but, COVID so..if it is at all possible, stay with a friend or family member because living in a staged space is HARD. One of our best tips is to keep a GO BAG near the front door if leaving isn't an option. Make sure it is large enough to throw any last-minute items into just in case a potential Calgary Home Buyer requests a last-minute viewing.

Selling is stressful. The right Calgary Realtor is a stress reducer. We Offer Free Home Evaluations.

Need to Sell Your Calgary House Quickly? Here's What to Do

There are many different reasons why you might suddenly need to sell your home. It could be an unexpected work relocation, a change in family circumstances, or simply a desire to move.

Whatever the reason, selling a house quickly requires some fast action on your part. But that doesn't mean you need to get into panic mode. You can list and sell your property quickly while still enjoying the process!

The first thing you need to do is figure out how to make your home show its best. In addition to cleaning and decluttering, that might include getting any needed repairs done, sprucing up the place by painting and perhaps even doing some minor improvements.

How much you need to "stage" your property depends on many factors, including what conditions are like in the local Calgary Real Estate Market. For example, you may not need to make each room look like a page from a decorating magazine if you’re in a seller’s market.

So, before you start any work, talk to me about what needs to be done to make your home ready to be seen by Calgary Home Buyers.

The next thing you’ll need to consider is the listing price. Your listing price is especially important if you want to sell fast. No, you don't need to low-ball your listing to attract interested buyers — in fact, doing that might actually have the opposite effect. But you do need to price your property competitively.

In addition, it's smart to line up the resources you'll need, especially if you're also buying a new home. For example: get recommendations for a real estate lawyer, contractor, mortgage advisor, cleaning service, pet daycare, etc.

I’m well-connected in the local home industry, so I can recommend you to reputable professionals I know and trust.

A final tip: If you want to sell your Calgary houses quickly, you need to start the process now.

Give me a call to get the ball rolling.

We also Buy Calgary Homes For Cash.

What Is A Calgary Residential Real Property Report?

A Real Property Report for Calgary Residential Real Estate is a legal document that shows the property boundaries and anything on the property like homes, decks, garages, pools, sheds, etc.

It includes a visual scale drawing and remarks from the survey company;

Who needs a Real Property Report?

Homebuyers need to know what they are buying. Is the fence or garage on your property or your neighbours? Sellers are required by the Offer to Purchase contract to supply the buyers with a copy of the RPR;

How does a Real Property Report protect you?

A Real Property Report only protects you if you look at it and understand what you are buying along with the house. There could be problems on the RPR you do not want anything to do with. There could be a Utility Right of way from the gas company that prevents you from ever building a garage.

How does municipal compliance protect you?

There are a lot of garages that extend onto the City of Calgary’s property in back lanes. The City will charge you a fee for an encroachment agreement or tell you to move it. You need a Stamp of Compliance from the City to know what you are getting with the house purchase.

How long is a Real Property Report valid?

If there are no changes to the footprint or no bylaw changes, the RPR is good. When the City passed a new bylaw requiring window wells to be on the RPR, it created a huge headache for homeowners that had to get updated RPR’s before selling.

How can I get a Real Property Report updated?

There is not much difference in price between updates and new Real Property Reports in Calgary for some reason.

What is shown on your Real Property Report?

Legal address, lot dimensions, joining properties, easements, encroachments, utility right of ways, permit stamps, surveyor comments, etc.

How much does a Real Property Report cost?

You should be able to spend less than $1,000 on a Real Property Report. It is good to get a few quotes as there is a lot of companies competing for business.

The benefits of a Real Property Report

Problems can sometimes be resolved. Buyers know accurate locations and dimensions of buildings, improvements, rights-of-way, and encroachments relative to their property's boundaries. Financing sometimes requires verified survey information. Development and building permits will require a Real Property Report.

Where do you get more information regarding Real Property Reports for Calgary, Alberta?

Calgarians can start with the Alberta Land Surveyor’s Association. The ALSA website answers the above questions in greater detail. They also have the member companies listed for you to call and get some quotes.

You can also ask me or any other Realtor or a Real Estate Lawyer to refer to a good RPR company. We work with many and have a shortlist we can send you anytime.

Is it Time to Re-Shingle Your Worn Out Calgary Roof?

Don't wait until you decide to sell your home to have the shingles replaced. Do it when they need it.

In Alberta because of our location to the sun, shingles wear out unevenly. The south side goes first and the north side still has many years of life left.

Consider replacing the shingles on your Calgary house with thicker shingles on the sunny south side so that the entire roof ages evenly.

When the shingles wear out or become damaged, you need to have them replaced.

Unfortunately, it's not always easy to determine whether your shingles need replacement right away or whether you can hold off for another few years.

Assuming your home has the most common type of shingles — asphalt — here's what to look for:

• Corners upturned on some shingles.
• Missing shingles.
• Shingles lifting during high winds and not settling back into place (flat) within a day or two.
• Heavy accumulation of shingle debris (particles) in the gutters.
• Shingle bits and pieces found on the ground around your home.
• Spots on your roof that still look wet a day or two after a rainfall. (This could be a sign of water infiltration into the felt or even the roof deck.)

If you have any of these signs, be sure to have a roofing contractor take a closer look.

Before investing in a new roof, be sure to check with the retailer or contractor who supplied the original materials. Your shingles might still be under warranty.

Bottom line: Don't delay. You don't want to wait until you hear drip drip drip or decide to sell your house before taking action!

Most Roofing Companies in Calgary Offer Free Quotes - It's always best to get a minimum of 3 quotes from companies with a good track record. They expect you to get at least 3 new roof quotes and when you tell them they have competition for the job, you can get their best price upfront. 

Do not forget to tell the roofing company that you want stronger shingles on the south-facing surfaces so that the shingles over time will wear out evenly.

Make sure you understand the warranties being offered with the shingles. Is the warranty with the house or with you the buyer? When does it expire? How long has the company and the manufacturer been in business in Calgary? What references do they have? 

When the job is done file all paperwork where you can show it to potential new buyers if you do decide to sell your house. Scan all paperwork and file it away on one drive, google drive, dropbox or some other cloud storage service. Then you have two copies in the event you need it for a warranty claim or anything else.

Fact: Homes with well-kept shingles give home buyers a better overall impression of the condition of a home and how well it's been owned. And these homes generally sell quicker for more money than the home that just got listed today and needed shingles 2 years ago!

Should You Buy or Rent A House in Calgary?

Buy or Rent is a question that gets asked and analyzed a lot in the Calgary Real Estate Market.

I am a Realtor so I’m obviously biased – Yes You Should Buy A Home – In Fact You Should Buy Many Homes – And You Should Move More Often – You should keep me employed and busy!

Landlords want you to stay as a renter and keep paying the mortgage for them. They want you to take care of the property like you own it. And do not cause any problems with neighbours. Pay the rent on time and hand the keys back to them when you're done with no claim on the property whatsoever.

Banks want you to be a homeowner and rent mortgage money from them. They want you to skip payments, defer payments, renew at posted mortgage rates, pay huge penalties for paying off your mortgage too quickly. They want to make a ton of money off you just like your landlord does.

The money side of the buy or rent analysis misses the huge peace of mind component that comes from being your own landlord. How much is it worth to not have to deal with landlord rules? Do this, do not do That….

If you want an easy answer to the Rent or Buy a Home in Calgary Question, just look at who owns the majority of houses in Calgary today. These people did the research, crunched the numbers, and took into account all the variables of home ownership.

These people can't all be wrong, can they? Most of them took out mortgages well over the low mortgage rates that you can get today. So, they are paying a higher rent on mortgage money than you can get, and they are not selling in a panic because of lower investment costs.

Back to the who owns more property in Calgary. Is it Landlords or Homeowners?

The answer is Homeowners live in over 70% of the homes in Calgary. And I know as a Realtor the 30% that are rentals are owned in a large part by the 70%. Many people own 2 or 3 homes. One to live in and the rest to invest in.

The City of Calgary House Data webpage offers up a lot of detailed home ownership information to help you in your buy or rent decision.

Call Me: Jerry Charlton at 403 831 0842 and I will help you help yourself!