Quote:
Originally Posted by Bob Burk
What did you dislike about your last realtor? I am a veteran realtor of almost 30 years and I am always looking for ways to increase my value to my clients.  |
My impression is that realtors have changed in the last couple of decades - either that, or I'm more cynical. In the past when listing a house, the realtor would look at the specific neighbourhood - not several similar neighbourhoods but the specific district - look at sales histories in a six to twelve month period, and come up with a realistic listing price based on house style, upgrades, square footage, proximity to traffic, walkable spaces and amenities, and then work with the client to determine fair value. Realtors would even make suggestions about how to improve sale value.
Today, my impression is that the realtor comes up with a sale price when looking at the property, and then looks for other properties in several districts that sold for that same price to present an argument to support the initial value. A realtor today will reference a 1500 square foot bilevel when assessing a 2200 square foot split level on the same street, and value the split level $100,000 less on the basis that the smaller bilevel has a new kitchen and bathroom, refinished hardwood, and a paint job. $50k upgrades on the split level results in the same quality of upgrades, yet there is no accounting for the difference in square footage. It's confusing.
To do better, focus on similar properties in the same neighbourhood. Another huge asset is knowing future developments in the district. For example, what are the municipal plans for increasing density, zoning from R1 to secondary suites, are the schools changing their focus. All of that is important for the seller as it influences the price for the buyer. I spoke with four realtors recently and it was only the fourth one who told me about significant future opportunities that made the neighbourhood much more desirable. That fourth realtor is the one who got my attention.
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