Real Estate 101

Working with a Realtor

Thursday, August 12, 2021

Selling strong

We are well into summer and still the seller’s market is continuing strong. In Medicine Hat, we’re seeing less new listings hitting the market. This low inventory for buyers means sellers are in a great position to list their home. And when homes are listed, they’re moving quickly, and closer to the asking price, if not over.

Within the last month, real estate professionals in the city listed a residential acreage just under $689,900. The property itself boasted roughly four and a half acres, was a bit dated with the finishings, but quality built. This listing isn’t typically something buyers see, but many saw the potential, as well as the opportunity. The property was sold for $1,000,000. While this story isn’t common, it does show that buyers see a home for what it’s worth.

It’s important to note that in this case, real estate agents were used on behalf of the buyer and the seller. There are a lot of advantages to working with a real estate professional, including all of the knowledge and expertise we’re able to offer, as well as suggestions on good relationships with outside professionals, which is an important step when buying or selling a home.

Offering up expertise

It’s important to do a little research before choosing your real estate agent. 

  • How long have they lived in Medicine Hat
  • How long have they been in real estate
  • How many transactions have they completed

Not all realtors work full time. Some consider the profession as more of a hobby and work part-time, assisting their clients in buying and selling. Full time agents are able to fully immerse themselves in the local market. There’s a level of expertise and knowledge one can expect when working with a full-time agent, who will make themselves available to their clients. 

I work through each step of the process with my clients, from soft-staging a home, to suggesting contractors to help get any work around the property complete.

Professional relationships

Banker vs. Broker

I recommend my clients speak with a mortgage broker. This is because brokers have a fiduciary obligation to their client. They work together with you and have your best interest at heart. Mortgage brokers have numerous resources available at their fingertips and are able to look at multiple lenders to find the best option for you so that you’re able to make the right decision. 

Mortgage specialists work for their institution and are usually only able to offer a certain rate. You may be able to negotiate a better outcome, but ultimately products are built with the bank in mind, not the client.

I trust Kristi Sauter and Mandy Reinhardt with my clients and know my clients will be taken care of when discussing their options.

Home Inspector

Having a home inspector you trust can save you thousands of dollars. I will always recommend my clients have a home inspection completed prior to possession to make sure everything is exactly as it seems and is in working order. Issues found can always be negotiated before conditions are lifted and it may land on the seller to complete the fix before the move-in date. Little things do add up and for $500, we’ll get a better view of the home and have peace of mind that all is well.

I recommend Randy Corbitt and Wade Ellis to all of my clients. Randy has a construction background and is always very thorough. He’ll help you understand any issues he finds and will make recommendations on how to get the job done right. Wade has been in the industry for a long time and is incredibly knowledgeable when it comes to home inspections.

Lawyer

The best thing you can do for your investment is find the right lawyer who specializes in more than just real estate. I suggest clients find someone with a background in litigation, as issues may arise during and after the transaction is complete. Call around and ask about their backgrounds and experience. It’s important, too, to find a lawyer that has a team behind them, so you feel supported during those moments when you need them.

Sarah Koch and Ryan Schindel are the people I know I can trust my clients with. They work hard to create relationships and build confidence in the people they work with.

Insurance companies

It’s important you call around when shopping for home insurance. Talk to your current company and ask about bundles. And don’t hesitate to tell them you’re in the market for a good deal. Every company is different and will be able to offer something different. Prices fluctuate, as do policies, but deals can be found year round.

Companies want your business, so don’t be afraid to negotiate to get the best offer.

Hiring movers

I suggest that my clients hire movers as soon as conditions on the home they’re looking to buy have been removed. A moving company adds peace of mind, knowing that there’s one less thing to worry about come possession day. You can relax once we’ve received the keys and work with the movers to show them where all of your belongings can be placed.

My clients have only had great things to say about 5 Star Moving Company here in Medicine Hat.

Need other recommendations?

As a real estate professional, and someone who has grown up in Medicine Hat, I’m able to suggest numerous professionals to my clients. Whether you’re in need of a plumber, roofer, or someone in between, I’m here to help you before, during and after your move.

Let’s connect so I can help you find the home that fits your lifestyle.

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