Business magazine Alberta Venture has released its annual list of the province’s 50 most influential people. Read More
Buying and selling a house can be a real rollercoaster. But if you dash the myths and stick to what’s true, you’re in for a much smoother ride. So if you’re planning a move in Calgary, here are the top 8 real estate myths you need to know.
1. When oil prices are low, you shouldn’t sell.
Life doesn’t always follow the oil flow, and waiting out the economy isn’t
always the right decision. Instead, nine months after one-too-many margaritas
might be the perfect time to upsize!
2. Houses For Sale By Owner are cheaper than traditionally-listed homes.
Owners sell their homes without a realtor because they believe they’ll save
money. (Keep reading for the lowdown on that.) They DON’T do it so they can
pass those savings on to a buyer!
3. You don’t need a real estate agent.
If you’re a seller… foregoing a realtor will leave you with a ton of
time-sucking work. You’ll likely have to pay the buyer’s real estate agent’s
commission (which is recommended
by FSBO facilitators like PropertyGuys). And you may get a lower purchase price
than a realtor could’ve negotiated… meaning you might not save much, if
anything, after all..
If you’re a buyer… know the commission for a
buyer’s real estate agent is already built into the listing price. If you don’t
have an agent, the seller’s agent will get that part of
the commission. Not you. Be prepared to pay.
4. Calgary’s winters are bad for real estate.
Spring is the best time to sell.
Spring is a popular time to sell. But that’s exactly
why it can be smart to sell your home at another time of year. When there are
fewer homes on the market, yours has less competition. A US study even
showed homes sold faster in winter, and more often above asking price.
5. All real estate agents are the same.
Real estate is a science and an art. Doing it well
takes experience, connections, intelligence, attention to detail, efficiency,
economic understanding and a good dollop of well-honed instinct. Not everyone
is blessed with all that in equal measure!
When we were developing the idea for Virtuo, this was something that really
resonated with us. Because when you’re forking over more money than your
grand-pops earned in his entire life, you need an agent who’ll get you.
That’s why we came up with this super-cool matching algorithm. We combine
statistical data analysis with personality matching to find the right Calgary
real estate agent for each individual.
6. You should choose the real estate agent who says they’ll sell your home at the
If there’s one part of the process that’ll have you gnawing on
your nails till you’re a stubby-fingered onychophagiac (that’s a real word. Look
it up!) it’s setting the listing price.
You don’t want to leave money on the table, but too high might mean crickets.
Ask realtors for the reasoning behind their suggestions.
7. Your realtor will connect you with the best lenders, inspectors, lawyers and moving
Yes, your realtor may have contacts they suggest. But it’s not
a given. And it doesn’t mean they’re the best people for you. A better
idea is to find a resource (ahem, like Virtuo!) who:
purposefully seek out
Calgary’s best inspectors, brokers, lawyers, movers and so on,
match them to you,
your values and your needs, and
lay them out as a drool-worthy smorgasbord of service providers! So you can choose what you need
and forget the rest.
It also helps if your resource can set you up with a good deal. That’s why we schmoozed our fave
service providers until they promised our clients’ the best discounts. You’re
8. Moving is a hassle. There’s no way to avoid it.
Buying, selling and moving house can be a
huge hassle and time suck. But there are ways to mitigate the madness,
- Being organized – Keep appointment records,
contacts and important documents all together and easily accessible (this
inspired the Virtuo app).
- Planning ahead – Call Shaw well ahead of moving
day so your cable and wifi are good to go. That way, you won’t miss the Flames
going down in, well, flames on game day. (This is a hassle, we know, which is
why we offer to do it for you.)
- Getting help – Arrange moving day sitters for
the kiddos and pets. Enlist a kick-ass moving company. Bribe friends with pizza
(Wondering who the most kick-ass of all the
kick-ass movers are? Ask us!
We’ll book ‘em for you. We can’t book your friends… but we can recommend some
good beers for bribery. Try the Blonde ale from Calgary’s
Calgary is a great place to live. Keep these myths
in mind, and your move into or around our awesome city will be the ride of your