60/ DECEMBER 2010 THE RIDER


REAL ESTATE:


New Regulations to the Realtor.ca System By Teri Davidson.


Everyone has been asking about the new regulations to our real estate industry which allow consumers to place their private for sale home pic- tures on the real- tor.ca system. Yes...it’s true you can do this.


upheaval about it ? Consumers or the public have always been allowed to sell their own prop- erties, they have always been free to list their homes for sale with discount service providers. Has this been the chosen way to sell proper- ties? Only in small percentages.


Here are the reasons the consumer public have chosen to use professional realtors.


But why the big


The training and the education levels which are mandatory for every licensed realtor. There are a series of courses and minimum passing marks which must be maintained. The licensed realtor must then complete further courses over the first two years of holding a license in order to maintain the license. He or she must work for a licensed Real Estate Broker or Brokerage. All licensed real estate salespeople and brokers must achieve a mandatory number of points every two years in order to keep their license. Failure to do so results in your license being revoked immedi- ately.


We have a fiduciary obligation to our clients whether they be buying or selling.


ing.


We are obligated to collect proof of who we are dealing with through Fintrac requirements. We hold deposits in a regulated mandatory Trust Account.


We follow up on all condition requirements, A Home For Your Horses


Exceptional horse farm situated on 98 acres including 6 turn-out pastures with mixed soil. Cen- tral to Simcoe, Pt Dover & 30 minutes from Hwy #403. Riding arena 64x128. Heated steel barn with quarantine stalls. Comfortable lounge with kitchenette overlooking the arena that boasts an overhead sprinkler system. System fencing. Pond, Well, 12,000 gallon cistern, 40x50 coverall with run-in along with 27 acres of hay on site. MLS# 9101905


Seller may consider VTB to qualified Buyer with 50% down. Asking $599,900 We must have insurance. We are familiar with how to arrange financ-


completing all paperwork and obligations con- tained within the contract in a timely fashion. We are professional in our conduct and busi- ness dealings.


But the biggest reason for our existence is the day to day, hour to hour, smoothing of the way, handling objections, marketing, showing and presenting of the properties we have been entrusted to sell and guidance we provide in the same fashion to those wishing to purchase. I will give you a recent example. I have sell- ers who listed their rural home with me as they were looking to move back to a more northern area where their family are still located. We were successful in having an offer presented to us right away from another agency salesperson. The offer was written back, close to asking price, the buyers accepted. The agreement was conditional upon a home inspection. Home inspection was done...two major negative issues were found during the inspection. One was a foundation crack severe enough to go right through the foundation. The other issue was involving the


garage. It was determined that the garage was not structurally sound and this was verified by an engi- neering report. When I called the seller to report the findings they were very surprised , disbelieving and angry and expressed all of this to me in a forceful manner. The closing statement initally was that they did not need to sell.


The buyers representative had been working on her end too, and as you can appreciate, her clients, the buyers, also were very shocked, surprised and angry to learn it was going to cost $20,000 to correct the problems with the house.


She rationalized the purchase with them. Reminded them how much all of the homes other attributes suited them, how difficult it is to find rural properties like this one for the price they were bud- geted for. She suggested they try to resolve the pur- chase by splitting the costs of repair.


I called my sellers back later that same evening when they had had time to calm down and explained the reality of the situation. The home legitimately had these issues, verified by the Engineer’s report. They had several options. They could stay where they were and not sell the house. They could fix the issues with the garage and foundation themselves at the contractor’s quote of $20,000. This would not mean their home would then sell for $20,000 more..any buyer is assuming he is buying a home with a structurally sound garage and no crack in the foundation. So sale price would not increase. Or thirdly, they could reduce the price by $10,000 split- ting the cost with the buyers and carry on with their plan to move closer to family. Their choice was the third option and the house was sold.


Because of all the emotion and the physiological aspects involved when problems occur , I really believe this sale would not have gone through if it were not for the third party participants, namely the licensed real estate practitioners. As soon as the information was shared there would have been resis- tance on both sides, words would have been exchanged, perhaps defensively from both sides and the agreement would have ended.


Don Dobie


Royal LePage Brown Realty www.DonDobie.com 519-426-7187


Sales Representative 1-888-999-8044


My point here is that a picture on an INTERNET site does not sell a home. It is very difficult to be jus- tifying price and condition of your home when you have the ulterior motive of wanting to sell the home. Home sales are not like product sales as there are vast differences in how people feel and react when it comes to selling their personal residences. Consumers are at liberty to act for themselves in a court of law, do their own business accounting, do their own roofing, plumbing, hairstyling, decorat- ing...we can even do our own dental work if we choose too but I think you’ll agree ...most of us would hire a professional. Someone who knows how to do the job, knows how to finish things in an acceptable manner which will not affect value, get


Continued on P{age 62. Ottawa Valley Erin, Caledon & Surrounding Areas Durham Region


75 First Street, Suite 14,


Orangeville, ON L9W 2E7


Erin: 519-833-0569 Tor: 905-450-3355


jguagliardi@royallepage.ca www.jacquelineguagliardi.com


Orangeville Area


Real Estate Agent Directory


Put your business here for only $22.50 per issue!


Simcoe County Brant County


Teri Davidson Broker/Owner


29 yrs full-time experience • Canada's Most Referred Realtor


Serving: Brant, Haldimand, Norfolk, Oxford, South Dumfries, North Dumfries, Ancaster, Flamborough, Cambridge and Woodstock.


Associate Realty Brantford Inc.


519-752-4116 • (519) 647-3330 teridavidson@execulink.com


Southwestern Ontario www.murraygibbons.com


• Serving South Western Ontario • 30 Years Experience • International and local clientele


All types Farms, Rural, Residential, Development Lands


MURRAY Gibbons, B.Sc., Agr., Broker of Record


Great Lakes Realty & Auctions Inc. Waterford, Ontario


Office: 519-443-6443 or Cell 519-757-5595 Email: murray@murraygibbons.com


Norfolk County, South Coast


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