I was really saddened at this blog post that is making the rounds

No Sale, but agent still gets $9,446 - Moneyville.ca

http://m.moneyville.ca/article/1124668--no-sale-but-agent-still-gets-9-446

I know that a bunch of realtors were silently giving a thumbs up to this court ruling, but what does a case like this do for the real estate consumer or the industry at large?  

This is a short term victory for a disgruntled agent who felt he was put out because a seller changed their mind and cost him a sale. nothing more nothing less.  

Our industry is under constant attack that all we do is pop a home on realtor.ca and sit back and let the cash flow in. I know nothing is further from the truth, but that's what a large part of the consumer public feels. The actions of this Agent does nothing to change that perception, in fact it likely makes it worse. Could this not propagate the feeling that if the poop hits the fan, the Agent will look out for their bottom line as opposed to their clients. 

Ya, I've been burned too. 

Now don't get me wrong, have I been on the wrong end of a client changing their mind for whatever reason and stopping a sale? Sure have. Does it make you mad after you've busted your hump for for weeks, spent a lot of good money on someone and they say "oh well, we'll catch ya next time" sure does. But you know what.. welcome to commissioned sales! No closing… no commission. If the buyer and seller don't exchange proceeds of sale, then we don't get a commission cheque. That's how it works.

What really annoys me about this case 

In my view it's the agents job to take the high road and move on! Imagine the leads and deals he could have dug up if he had put his time, efforts and knowledge back into the market instead of small claims court. For what? to prove a point? 

Are there times when we as agents deal with unscrupulous people who try and take advantage of us for their benefit? Yes, but it is the vast exception rather then the rule. If there is true negligence and intent to get out of a contract signed by both parties, or if this seller had refused to close and sold the property to a buyer after the fact, ok, we've got some talking points. But in this instance I say cut bait and get on with finding clients who want to do business.  

The consumer needs to know that any professional is willing to make sure the relationship is in clear focus. The more and more we get deal focused in real estate, the less the public will have faith that we're looking out for them.

I'd love your thoughts?

I found this ad above a urinal at one of my favourite Regina restaurants and it gave me inspiration for this blog. Let's clear one thing up first, yes I was peeing when I thought of this and no I wasn't peeing when I took the picture. 

Image Advertising draws you in…

yes it does and it still works. But is the impact of image advertising being lessened by the advent of social media and the way the internet in general is changing? I think so.

This ad for a New Zealand winery draws you in with a whimsical label and in fact that is the main message in the ad.. " winner of best label design". There is absolutely nothing in this ad that addresses whether this wine is even remotely drinkable. It could be pure basement turpentine… Brilliant. They are promoting their label not their wine. They are promoting the fact that if they take this much care and intention into the packaging then the same must be true for the vintage. Is is true? You have to buy some to find out.

Let's look at this concept in Real Estate. REALTORS® are probably the works offenders at so called label advertising. They run huge full colour ads with a picture of their face and say, wow look how awesome I am. Look how much you need me, look how much I've sold. You know what, it works.. or has worked. The public in large part will take a leap of faith on someone that says look at my awesome label, the rest must be awesome too. But I believe the times, they are a changin'. 

REALTORS® Like wineries will be much more successful in the months and years to come with true advocacy as their main lines of advertising. More wine is sold if people are recommending it to friends, sales people are more successful if people who have actually done business with someone refer that sales professional to a friend or co-worker. 

What am I really saying? 

I'm saying be sceptical. Think about the advertising claims that you see. Regina's Leading Real Estate Expert… Regina's #1 Agent …. Regina's most referred Realtor … etc, you get the picture. Ask yourself why brands feel the need to advertise this way. Honesty in advertising should be a major factor in your interview process, for whatever goods or serviceses you seek out. 

What does that have to do with the net?

With the maturation of the internet, word of mouth is even more powerful that it was when our parents were selling things. Message spread at the speed of light not just the speed of sound. Find out what people, actual people, are saying about a brand by listening to the conversations that are going on right now. search.twitter.com. Bookmark it and go their often. Don't just take the brand at their word, find out what other people are saying!

Did I notice the ad? 

Heck ya. Will I buy a bottle to check it out? I sure will. If only looking for a REALTOR® was a simple as picking out a good bottle of wine. Is the guy on the bus bench down the street as safe a bet as a New Zealand Sauvignon Blanc, not so much. Commit yourself to buying in on a more personal level than a flashy magazine ad, get the advertiser to back up their claims. Most of all trust your gut! Take substance and hustle over flash every day of the week.

Footnote. 

I highly recommend Rock Creek, and in no way is this meant to speak poorly of the establishment. Great Fish Tacos. They had me at Boh on tap.

Hey there Rob Rayner here checking in. Just driving in the office this morning and I noticed this happening in the ol' neighbourhood. There it is we got some more old houses coming down here in lakeview and making way for new ones and there was a house there yesterday when I was came home from work and now it's gone. So we've talked about this before. This is, oh look at all the soot and stuff in here from that its all blowing in here. We've talk about this before this is a new and emerging trend here in Lakeview and other old neighbourhoods like it here in Regina. Old house coming down making way for new construction. It really is a sign of the times and everyone around here should be happy about it because it increases the overall property values in the neighbourhood. When you get rid of the ones that are too old to be renovated, not in a condition to be renovated. And someone is willing to put their money and big money into redeveloping in a neighbourhood, hey that's good for everyone. So here's a tip for 2012 if you want some, you know insight or some crystal ball effect, buy a house in Lakeview. If you don't want to live there rent it out coz you know you can and someday you might be able to pull this off and there will be great gains in that. Love to hear from you on this issue. rob@livinginregiina.com talk to you soon buh bye.

Queen City Growth Continues

A Little Goes a Long Way 

 
If you look at the last 9 years or so we've obviously see the price go up substantially in all sectors of Regina Real Estate, I'm not sure there is anything in the immediate future that can stop that wave of growth. Brisk migration of new people and ex pats to the city along with terrific job numbers really support another big year for 2012. However a little goes a long way, the percentage of growth has only been double digits 3 times in the last decade, but those 3 occasions have changed the tide line. 2008 is most telling, lowest number of sales in last 6 years, world economic crisis and the median price goes up 30% from 2007. That's a rock steady market if I've ever seen one. Ask Buyers from 2007 in Calgary if they were up 30% in 2008. But you see after '08 that slow and steady returns. That's just how we want a Real Estate market to preform, no extremes.

Stocking the Shelves

If there is one big unknown for 2012 it will be inventory. If I had to guess, I'd say we will be below balanced for 2012. Meaning it will largely be a sellers market for much of the year. Now don't get all excited sellers and think you can just list your home at some crazy price just to get what you "need" out of it. Homes will still have to be competitive when pricing, but there will be a larger margin of error for sure. The market may tolerate the over list a little bit. Buyers that means you have to have a proactive approach to looking for your next home, don't just settle for an Agent putting you on a prospect match and hoping the right thing comes up. It means you need someone with some hustle and someone who's willing to get creative for you, especially if you are in a multiple offer situation. There are lots of good buys out there right now and will be all year. Have your prep work done and get ready jump when the opportunity presents itself.

Speculation Free Zone

I've never been a supporter of Real Estate speculation, so it's never a good time for that. But I'll bet you a nickel the three big condo projects getting ready to go in the ground in Regina, City Square Place, Gardens on Rose and Capital Pointe will see their fair share of speculators making purchases out of the sales centres. They are the ones who are going to list the unit the minute possession is granted. Watch out for an over saturation of the Regina Condo market about 6 months after 2 of the three are finished and ready for residence. If you're buying a condo to live in don't worry. If you're buying to flip beware. If you're buying to rent it out, do your numbers, don't go for the big fancy unit and prepare to hold for 3 to 5 years. For the true investors out there, I will refer you to one of the pre eminant authorities on Real Estate Investing, Don Campbell from the Real Estate Investment Network. His message is clear and sound and it's one that everyone remotely associated with Real Estate needs to hear. Here's his look at Real Estate for 2012 and it's a must watch!

Stick to the Knitting

A little cliche yes, but the message is sound. Stay with the business you know. I will say it again and again and again. Real Estate is murky waters at the best of times, expecially in unqiue years which 2012 will be. You NEED to get some professional advice before you make decisions with hundreds of thousands of dollars. Especially if you are one of the fortunate Reginaians that owned their home prior to 2006. Being impartial about a combined gain of around 85% in equity since 2004 is difficult. Get an advocate.

 

Sorry @FdoAguirreCEO might be the last 4011 I have for awhile. Your stance on AB Oil is bizarre to say the least. twitter.com/RobReynar/stat…

Hey there! Rob Reynar here checking in I don't normally blog about individual listings that's something that I've never done but in this case something really cool that I found today. I've never seen it before actually and I wanted to pass it along to you because I think it's fantastic. I'm here 113 Mcnabb cresent and there's  something about the window of this house that I thought were really cool. There were big, they had nice casement autumns, new style casement, but there was no screen. And I thought "that's interesting" why would you make new windows with no screens. Well I found out why. It's a phantom screen on a built-in window. Not just a phantom screen door, but a phantom screen built right into the window. I think that's a fantastic idea, like I said, I've never seen that before I've been in a lot of houses before I've never seen this feature. What it allows you to do is keep both the inside and the outside of the window spotless without having to take the screen in and out. The winter time you're not gonna open the window, you don't need airflow, you just allow the light and it's visually appealing. In the summertime close it up and you can open the window and get airflow. Terrific idea! if anyone knows where these babies are manufactured or if they have any experience with that I'd love to hear from you. Terrific Feature! Again 113 Mcnabb crescent.

Love to hear your comments on this rob@livinginregina.com


Talk to you soon! Bbye!