Rick Sergison - Durham Region Real Estate Blog

One of the questions that I am most frequently asked is actually "What should we ask a REALTOR®?" Often, it is just as important (and possibly more so) to know what questions that a REALTOR® may ask you that you should NOT answer!

Remember: Until you have signed a contract or "Listing Agreement" with the REALTOR®, that REALTOR® and any other that you might speak to, does not have a fiduciary obligation to you! They are under no obligation to keep your answers confidential. You may say, "Hey! What a minute! What kind of professionalism is that?" But please consider this.. If you hire another REALTOR® to market your home and one of the REALTORS® that you talked to previously, but didn't hire, ends up bringing an offer from a Buyer later, working as the Buyer's Agent, they would be obligated to disclose anything that they know about your property and motivation, etc. to their client - THE BUYER! Your answers may be used against you!

Interview as many REALTORS® (commonly called "agents"*) as you wish, but be careful of such questions as, "Why are you thinking of moving?" While the question may seem innocent enough, your answer may indicate some duress or motivation that might suggest that you could be open to taking a lesser price for your home - even well below market value! Whatever your reasons are for selling your property, they have absolutely no bearing on the value of your property. Such questions as "How much did you pay for your property?" or When did you purchase the house?" are totally irrelevant to it's current value!

YOU SHOULD NEVER CHOOSE A REALTOR® BASED ON WHAT THEY TELL YOU THEY CAN GET FOR YOUR HOME! The market (the Buyers and effects of supply and demand) determine your home's value - not the REALTOR® (unless they are going to buy it themselves - at or above market value!) It's too easy to do the "3L" Listing Program - (LIE, LIST and LATER) to get people to sign a Listing Agreement for 6 months and then come back and say "Oh well, the market changed" or "There is so much more competition now". Once they've got you signed.... (Always demand an "Easy Exit" Guarantee". But that's a blog for another day!)

So, avoid any questions that might suggest your opinion of the property's value, such as "What do you think your home is worth?" Your answer can work against you - both with the REALTOR® you hire and those that you don't! Don't make it easy for them to tell you "what you want to hear" just to get the Listing Agreement. The value of your property is NOT determined by what a Seller "thinks" their property is worth, or even what he or she wants or needs for the property.

The value of your property is determined by what a willing Buyer will pay for it, within a reasonable time period and after a thorough marketing program has been implemented to ensure that every prospective Buyer has been made aware of the property's availability.

When you are looking to hire a REALTOR® to work for you - YOU should be the one asking the questions! After you have signed the Listing Agreement with the REALTOR® that you trust to protect your best interests, then you can safely answer any questions that your REALTOR® may need answers to so that they can know how best to serve you!

Good luck and Happy Selling! (and Happy 2011!) -- Rick

* The term "agent" is often misused as, in many jurisdictions, including Ontario, the "agent" is the Brokerage or company that the Broker or Sales Representative is licensed through. The term REALTOR® is a licensed trademark of the Canadain Real Estae Association in Canada and may only be used by it's registered members.

It started with a few people, standing on bridges overlooking the busiest highway in North America. Gradually, the crowds grew and grew, braving the bitter wind and snow of winter and the scorching sun of summer. Each time the grim parade makes it's way down that stretch of highway, the crowds swell and more flags appear. Firetrucks, with lights flashing and firefighters on top, stand at attention and salute the passing motorcade.

Each time a Canadian soldier falls in the line of duty, they are flown to Canadian Forces Base Trenton to be repatriated before taking a last, long ride to the Coroner's Office in downtown Toronto, 107 miles away. Most of that sad journey is along this highway. This stretch of highway has now officially been renamed "The Highway of Heroes".

The MacDonald - Cartier Freeway runs from the outskirts of Montreal to Windsor Ontario, straight through the heart of Toronto. Locally know (somewhat affectionately) as the "Four-Oh-One", it is the busiest highway in North America and the busiest trucking route in the world, surpassing even the Santa Monica Freeway in L.A.

At first, the City of Toronto government tried to discourage the practice, but like trying to stems the tides in the Bay of Fundy, they were powerless to stop the flow and gave in, eventually even officially endorsing the tribute. Politics is like that, I guess.

I have lived on both sides of the US/Canada border. I often envied the Americans for their willingness to show their patriotism - flags waving from many homes all year around. We Canadians are often said to be a more reserved people, and from my experience, I believe that to be true. We don't wear our patriotism "on our sleeves". Maybe that is starting to change. I hope so, if only for our fallen heroes. They deserve it.

Recently, songs have been written and more recently, a US news service featured the Highway of Heroes. Below are links to those songs and videos.

Today is Remembrance Day in Canada and Veterans Day in the United States. To our men and women, all around the world, who risk their lives for us - thank you. I pray that if you ever travel this Highway of Heroes, it is to go into T.O. for some afternoon shopping or to catch dinner and a show.

With sincerest thanks and gratitude............

http://www.youtube.com/watch?v=InztCEsi-7w

http://www.youtube.com/watch?v=IsCVlM1CSPU

http://www.youtube.com/watch?v=n1R8qLAmkLU&feature=related

To View Property Website With Virtual Tour & More, Visit www.Amberlea.ca

Beautifully updated, upgraded, maintained and decorated in Amberlea. Modern Kitchen With Pantry & Stainless Steel Appliances, Pella Sliding Doors, Walk-out To Custom Deck, Hardwood Floors In Living, Dining & Family Rooms, Familyroom With Gas Fireplace & California Shutters, Professionally Finished Basement - Pot Lights & Stone Fireplace, Upgraded Windows. 2nd Floor Laundry With Washer & Dryer. Public & Seperate Board Elementary & High Schools In Neighbourhood, Shopping Plaza 3/4 Km, Mall 2 Km, Easy Access 401 & 407. This Home Shines!

Recent Updates: Stainless Steel Kit Appls (08), Washer (10), Furnace (08), Roof Reshingled (07), Hdwd Flooring (08), 6' Baseboards Thruout (08), Crown Molding (Fam Rm & 2nd Bdrm, All Baths Reno'd (04-06), Lawn Re-Sod & Landscape (08)

CAMP X was set up in 1941 as a top secret faciity for training spies for the Allied Forces, including the French Underground and eventually, the United States Secret Services. Founded by the British Secret Service, with the help of a Canadian businessman, William Stephenson, William Stephenson's code name was "Intrepid" and his story is told in the book "A Man Named Intrepid".

Nestled on the shores of Lake Ontario, just 30 minutes east of Toronto, history played out in secrecy that only came to light several years ago.

One of the men who was trained at that facility was a man by the name of Ian Fleming, who would later create the world's most famous spy, James Bond. Apparently when Ian Fleming was training at CAMP X he stayed with family in Toronto on Avenue Road - right across the street from the Saint James Bond Church. (The church was named from the merger of St. James Prebyterian and the Bond Street Congregational Churches)

According to historical accounts, Ian Fleming was not quite the killer that Agent 007 was. Apparently, when it came to having to "kill" an "enemy agent", he was unable to complete his mission and kill someone in cold blood.

Check out this story and more at this link >> http://webhome.idirect.com/~lhodgson/ianfleming.html and all of the history of this amazing top secret installation.

2008 was a year of change and challenge for real estate in the Greater Toronto Area, as it was with most sectors of the economy. The average price increased fairly substantially in the Spring, as it does in most years, but stalled and fell back as we moved into the Autumn market. (Yes. I purposely avoided using the term "Fall" market.)

Where are we heading? That's a great question that no one can answer with any certainty While the average price fell in October, it rebounded in November (see graph on reverse). However, the total number of sales for the month of November was down by 50%. A lot will depend on interest rates, rental vacancy rates and, particularly in certain areas, job stability (e.g. GM in Oshawa).

I personally believe that we are seeing a fantastic opportunity for buying real estate, whether it is as a first-time buyer or buying investment properties. Will it get better? It may, but things can change very quickly and we often don't know the opportunity is gone until it's too late. If your "personal economy" allows, it may also be a great time to consider a "move up" as the higher-priced segment of the market has seen more pressure-but it must be done very carefully. You don't want to end up replacing the "Seller in trouble" whose situation you just finished taking advantage of! As the saying goes, "It's always the right time to buy a great home, but it's never a good time to buy a wrong home!"

Whether you, or someone you know, are considering a first purchase, an investment property, moving up, down or even out of the area or the market - take a look at the graph on this page. It illustrates the price trends for the Greater Toronto Area, not only month by month, but also over the last several years. Call me to discuss how to use this information to your advantage. Timing is everything! Let's get together and look at when to buy or when to sell and, if you're doing both, which order to do it in. (If you wish to receive a monthly update, just email me and let me know.)

Finally, (and I HATE having to add this paragraph, but if I didn't, I wouldn't be doing my best job for you) let me say that I hope and pray that you don't find yourself faced with the prospect of having to sell, or worse lose, your house due to the economic factors that we currently face. If it appears as even a remote possibility, don't wait to contact me. I am here to help and I have experienced many challenging real estate markets over the past three decades that I have been a Realtor. Unfortunately, in past situations, people have called me when it's too late and the Big Bad Wolf (or the Mortgagee) is at the door. Before you lose your job, have your credit downgraded or lose your equity, I may be able to help you find alternatives, but I can't do much to help when the damage has already been done. Denial could cost a chance to look at other options that may be available rather than having to sell your home. Let's look at them while we can. I would much rather only sell houses that people WANT to sell! (There. I said it. Now enough of this media-fed negativity!)

I sincerely hope that 2009 is your "best year ever". I look forward to helping you make it so!