Myths Busted

There is a disturbing trend in real estate these days. The ability of people to google, check mls, zoom on Google Earth has empowered Buyers ....mostly in a good way! Buyers are educated, they know what they can get for their money, they can check the neighbourhood and search out statistics. All good.
What it has caused though is a sense of "I know the market", "I watch mls", "I will just work with the listing agent". Here are some points to keep in mind:
1. Knowing what is for sale does not tell you what a property ultimate sold for - there is often a big gap! Therefore a Buyer can easily overpay;
2. What you see on the internet is often deceiving. Good photos can make a property look incredible, and not show the drawbacks. Equally so, and more importantly.....bad photos can have you overlook the perfect property, extending your search time;
3. MLS does not provide a good feel for different areas. A property in the Haliburton Highlands compared to a property in Muskoka or The Kawarthas are not all equal. Your Realtor can explain why there are differences and what your money truly should get you in each individual market;
4. Calling the Listing Agent each time you see a property causes extra work for you, the prospective Buyer. The Listing Agent, until a Buyer Representation Agreement is signed, is working for the Seller. They do not know your likes, dislikes, price point, area of interest. Therefore you continue to call agents, only to find out that the property is not for you, and you start again.
4. Working with the Listing Agent does not give you a better purchase price. At the end of the day, the Brokerage gets paid, and the Seller wants the price that the Seller wants. The listing agent will sell the property - if not to you, then to someone else, all they have to do is wait. Remember, the listing agent's job is to get the Seller the best possible price for their property, not create a fire sale so they can get paid quicker.
One of the scenarios that we are seeing today is a couple drive to the area on Saturday to look at cottages. They have 4 appointments with 4 different listing agents (tough to coordinate to start with!). The couple sees each individual property - none are what they are looking for, they have lost a full day with no results, and each of those 4 agents knows nothing about the Buyers or their goals. The day is a loss, and the next weekend the couple start the dance all over again!
Here is what should happen: the couple talks to 3 or 4 different agents to get a feel for each of the agents. Are they a good fit? Are they truly interested in my goals? In my wishlist? Do I get a sense that this agent will spend time on my behalf? Do they seem to have a knowledge of the listings currently on the market and the area/town/lakes? Once the "right fit" is found, the legwork is in the hands of the Buyers' agent. That agent will look at what is on the market, with their knowledge of each lake (big, small, weedy, good boating, good swimming, quiet), they will weed out the listings on lakes that don't fit the Buyer's wishlist. Then they will look at factors such as seasonal, access, water frontage, # of bedrooms, move-in ready or needing tlc.....THEN, and only then, will they forward possible properties to the Buyers. The Buyers only look at properties that are true candidates. A date is set, the Buyers come up, and the agent takes them to each of the potential properties. The Buyer may not like what they see...that's o.k. It's a process. But that initial meeting is also crucial, because the agent is going to learn even more about you by your reactions to the properties that he/she has shown you that day.
Buying a property should be fun and exciting....not a huge amount of work. Let someone be on your side, work for you, and care for your happy ending.

Misadventures!

Well, I usually try to put informative and factual things on my blog, but today it is all about me :) Life as a real estate person.......

I recently had two outings that are worth sharing. The first was a "first" for me. Although I love the outdoors and camp, canoe, etc., atv'ing is something that I have only been involved in on a simple, short trip level - when required to get from A to B. Two weeks ago that changed. Marilyn and I had listed a large parcel of land that backs onto Crown Land - and like a good agent should, I asked the Seller to show me the property - specifically the 4 corners, and a large pond at the back of the property. No problem! The Seller was quite obliging. First issue - he left on his atv, and I couldn't figure out how to start mine! He patiently turned around and showed me the tiny black switch under the left throttle. OK - now we are rolling! We did a circle around the parking lot so I could get the feel for it, then off we went! I must admit I was a little nervous but how hard can it be to follow someone on a nice, wide trail? Firstly, it wasn't a nice trail, secondly, it wasn't a wide trail. When we vered into the bush, off the main trail, and over a downed tree - I knew I was going to have something to write about (if I survived). Luckily, I only made one really wrong move - not being used to how much I could crank the heavy steering column, I missed a sharp turn and wedged between two trees. With a slight smirk (and I am sure an internal, uproaring laughter), the Seller got off his atv and rescued me. We went over things, around things, and on side slopes - and I survived! My thought all the way out was literally "Oh my God - I still have to turn around and go back!). But, I did it! The pond at the back corner of the property was absolutely stunning and worth the trip, we saw a beautiful fawn bedded down in some long grass, a buck (I missed it because I was too busy trying to steer), and some excellent bushland. I couldn't lift my arms for two days - but I can now say I am an experienced atv'er! I am glad I stuck it out - it was well worth the experience.

My second story (much shorter) is about how to hold your composure in an embarrasing situation! Yesterday I was showing cottages to two gentlemen. We were at an elevated cottage, built on a rock, with stairs leading down to the water front. The men were at the bottom of the stairs and I was near the top, on my way down, when it happened......my foot slipped. My first thought was that if I let go of the railing my life would be over as we know it (a bit extreme but hey!). I held on tight to the railing and went thump, thump, thump, down the stairs with one leg bent behind me and the other straight ahead. The gentlemen ran to my aide, but what could they do? I came to an abrupt stop - hopped up as quickly as I could and said "I'm fine". There was a searing pain in my knee and ankle - but I smiled through my embarrassment and pretended nothing hurt. What hurt most? My pride! I left some layers of skin on the railing and I am now hobbling around - skipped my morning power walk with a colleague (I'll use any excuse!), and feel pretty dumb. So much for professionalism!

I wouldn't trade my job for the world!

Winter Blah's

Winter seems to be shorter this year (oops, am I speaking too soon?). As Marilyn and I gear up for The Toronto Cottage Life Show in March, we are pouring over our notes, reconnecting with clients, planning our Spring, and getting the word out to get cottages priced now so they can be advertised at the Show. Time has flown by but we are excited for the new season. Winter is a quiet time for making sales, but a wonderful and busy time to organize, reconnect, strengthen our education and improve on systems. You have to be constantly improving and learning in real estate. I will be sad to see Winter go though, it is great to see the snowmobilers whizzing by and enjoying the outdoors, the visitors walking the streets with their Sir Sam's Ski Hill passes and their cross country ski trail passes hanging from their coats, and to smell the fresh crispness of Winter air - there is nothing like it! I don't mind all the dull, grey-brown trees without their leaves because they provide a wonderful contrast to the sparkling white snow. Today the sky seems more blue than usual, and it is definitely a day to enjoy some of that fresh air! But alas, I have to work. Perhaps after work I will get to go for a leisurely walk - Winter will soon be over! I hope that the people reading this are taking the time to enjoy what nature is offering before it is gone. Life is short - don't let the seasons pass you by! There are 4 of them!

Choosing a Waterfront Property

One of the most popular questions when on duty is: where do I start? what do I look for? This a huge question, with many answers! My recommendation is to sit down and decide what your vision of cottage life includes. Quiet evenings and bonfires? Canoeing and kayaking? Fishing? Swimming? Boating and water skiing? Make a list. There are many types of cottagers, many types of properties, and many types of lakes. Each lake has it's own "personality". With over 600 lakes in our County, they range from small, motor-restricted to large chains great for boating. Each lake has a different price point. What $350,000 buys you on one lake, does not get you far on another.

Know your price range - know your "must haves" - know your planned lifestyle. If you share each of these with your Realtor it makes the cottage hunt more efficient. Do you need to get into the cottage in winter? Or will you be a summer cottager? We have a lot of seasonal roads in the County but many are also short and could be ploughed by yourself or someone you hire if that is the right cottage for you - so do not discount them. Cottages on seasonal roads also give you a price break if you are willing to consider them.

Also ensure you can talk to your Realtor and communicate. If you tell your Realtor that privacy is very important to you - know that privacy to one person is not the same as what it means to someone else. I recently had a client that insisted that the most important thing they wanted was complete privacy. They needed to get away from everyone and everything. They asked to see a particular cottage that, in my mind, was not private at all with cottages flanking both sides and very little for trees or shrubs between them. They absolutely loved it and thought it was incredibly private!

If you are not sure exactly what you are looking for - my suggestion is to book a day with your Realtor - have him/her showing you 3-4 cottages on different lakes. By the end of the day your Realtor will know you better, and you will know what you like and what you definitely don't like!

Summer Sales

Well, summer is over half over already! Business will slow down temporarily in the Highlands for the last two weeks of August while Buyers turn their attention to back to school preparations and The CNE, but they will be back come September! September and October are traditionally crazy months for Realtors. Buyers who have looked all summer but not found that perfect cottage yet, are really serious now. Many think about how nice it would be to have Thanksgiving in their new cottage and invite all the family! Environment Canada is predicting a warmer than usual Fall this year also, which should help keep people motivated.

With serious items such as economic trends and interest rates - why did I mention the weather? Sounds crazy, but the weather can affect real estate in cottage country quite a bit! Haliburton County is still an area of "choice" - lower taxes but a Muskoka feel. So even in a tough economy, it is still a great place to buy a vacation property. Having said all that, Buyers still have to be "in the mood". Spring presented a lot of wet, cold weather, and it was hard for Buyers to think about lounging on a beach or on the deck of their new cottage! July started with a huge bang - until the severe hot weather hit! Everyone renting a cottage and thinking about getting their own, stayed at the cottage - too hot to move, too hot to drive around and look at options. It doesn't mean they won't look, it just created a temporary lull.

The County definitely had lots to choose from this year - many listing in many price ranges. I wouldn't call it a Buyer's market just yet. To create a Buyer's market, both Buyer and Seller have to be of the same mind set, and right now, Seller's still want their prices. There are several price reductions in the area, but not much above normal for this time of year. Remember, fair market value of a property comes down to what the Buyer is willing to pay and the Seller is welling to take - a meeting of the minds!

My New Blog

Hi everyone - My first blog, www.aviewofthehighlands.blogspot.com, was created to be strictly about my adventures around Haliburton County - no business! But it seems that separation is hard for me - I like to talk! So I have created a second one for those who wish to read about real estate.

Firstly, I wish to talk business. Haliburton County is a fabulous place to take on a business of your own. Not only do we swell to bursting capacities every summer, but we have great winters too! Many people think of our County as a summer destination but it just isn't so. With our extensive snowmobile trails, Sir Sam's Downhill Ski Resort, amazing top-rated cross country ski trails and snowshoeing becoming more popular than ever before, winter is a mecca for visitors to the area. YES, business is quieter, but for the business owner this is truly a good thing. The crazy pace of summer means that business owners need that time to breath, re-group, plan for the next season. Business is still coming through the door, but you can get to those other items you desperately need to give attention to!

We currently have two businesses for sale. Both are vibrant, active and stable businesses in the Village of Haliburton. A bulk food store that is clean, large, and has a great following of loyal clients, and a Day Spa which has been in the County for over 23 years and offers everything from manicures to tanning! Both businesses offer excellent locations, parking directly in front of the stores, an instant client base and all the tools necessary to step right in and take over.

There is great opportunity in our County - move here, relax here, earn money here!