Questions People Ask About Calgary Alberta Realtor® Real Estate Fees and Commissions

Answers to Questions People Ask About Calgary Alberta Realtor® Real Estate Fees & Commissions

It is against the law to have fixed Realtor® Fees and Commissions in Calgary.

Real Estate Fees are negotiated between Calgary Home Sellers, Calgary Home Buyers, and Calgary Realtors®.

The selling price of any home on the Alberta MLS® System included the Real Estate Commissions plus GST. The fee could have been zero, or 1%, or 2%, or $2,500, or $8,550, or 7% on the first $100,000 and 3.5% on the balance of the sale price, or any other creative commission calculation you could imagine.

The point is there is no set fee for Real Estate Commissions in Calgary Alberta, Canada.

Remax, Century 21, Royale Lepage, CIR Realty, Exp Realty, Sotheby's, 1% Realty, 2% Realty, 3% Realty, and the hundreds of other Alberta Real Estate Companies are prohibited by law from fixing commissions rates.

The above companies and their Realtors® all want your business and will negotiate your Real Estate Commissions.

Calgary Home Buyers pay 100% of the Reator® Fees because it's included in the Home Selling Price. It's like the mark-up on any product you buy at a retail store.

Some Calgary Realtors® claim they won't negotiate commissions. There are Real Estate Trainers and Coaches that charge Realtors® thousands of dollars to learn how to "Protect Commissions." Talk to a few Reatlors® and you hear the same old scripts. How if they are not tough on commissions with you, they won't be tough on Calgary Buyers on the home price. Blah, Blah, Blah.....

The bottom line is All Realtor® Commissions in Calgary Alberta Canada are Negotiable.

You can get a 1% Commission deal from a Remax Realtor just as easily as from the company that calls itself 1% Realty. 2% Commissions are offered by Century 21 Realtors® just as often as from the company called 2% Realty.

Brand means nothing in Real Estate, Calgary Home Prices Rule Everything.

Feel free to contact me anytime you want the Truth About Calgary Alberta Real Estate Fees and Commissions.

Searching online for homes to buy can be fun. Also frustrating when you find the perfect home and it is already conditionally sold to somebody else.

So What Does Conditionally Sold Mean?

Conditionally Sold means the home seller has accepted a "Conditional Offer To Purchase" subject to "The Buyers' Conditions".

What Are "The Buyers' Conditions"?

One common Buyer Condition is "Subject To the Buyer getting Approved for a Mortgage".  Another common Buyer Condition is "Subject To The Buyers Approval of the results of a Home Inspection".

Buyers' Conditions are often referred to as "Walk Away Clauses". If a buyer does not waive the buyer conditions in writing by the specified time the offer to purchase contract is voided, the deposit is returned in full to the buyer.

The seller has options after accepting a "Conditional Offer To Purchase".

1. Change the MLS Listing Status to "Pending" and the listing disappears from the internet.

2. Leave the MLS Listing as "Active" to try to get offers in case the first one falls through.

From the seller's perspective if they are feeling confident or not about the first offer going through or not leads them to choose the option of leaving the property on the market or taking it off pending the outcome of the conditions.

Before we book property viewings for our clients we ask if the property is still active or conditionally sold. It's not ideal for our buyers to get excited about a property only to find out it's most likely sold already. But we do see the seller's point of view as well.

The best way to avoid the disappointment of missing out would be to get directly connected to the Real Estate Boards MLS® System. Then you would be amongst the first to see new listings that match your list of wants and needs.

Contact Us Today and we will get the MLS® System Working For You instead of against you! We reverse the process of you searching online for houses to the home finding you. We know our system works best because 100% of our buyer clients switch from wandering the internet and are glad they did.

Contact Us for more information on the entire home buying process in Calgary and how to avoid the disappointment of finding conditionally sold properties.

October 2021 Calgary Real Estate Newsletter

Conquering the Fear of Paying too Much for a Home

You’ve heard of “buyer’s regret”. It refers to purchasing a pricey item, like a fancy sweater or a new car, and then regretting it the next day because you think you paid too much.

Fear of buyer’s regret can actually dissuade people from making a purchase, even when the price is right and they really want the product!

In the real estate world, buyers can sometimes hesitate to make an offer on a home for the same reason. They worry about paying too much, so they take a pass on the property. That’s unfortunate because they may miss out on a great home at a good price!

How do you conquer this fear?

The first step is to get your finances in order. Determine how much your current property will likely sell for on today’s market. Also, talk to a lender or mortgage advisor to find out how much of a mortgage you can get. This will give you a fairly good idea of what you can comfortably afford.

Don’t forget to factor in monthly expenses when determining affordability. If you’re looking to move to a larger home or one that’s in a highly desirable neighbourhood, your mortgage payments may be higher. Other expenses, like utilities, might increase too.

Remember, a new home is as much a lifestyle investment as it is a traditional financial one. You’re making an investment in your – and your family’s – happiness. That might even make it worth spending a bit more. And, once you’ve reviewed your finances and anticipated your expenses, you may discover you can do just that!

So, take all these factors into account and determine a price range within which you can comfortably shop. That will make it easier to make an offer on that perfect property with confidence, and with no fears of regret.

DIY-Friendly Bathroom Makeovers

Want to make your bathroom look fantastic without having to do a major renovation? There are a lot of projects you can do yourself. In fact, there are some improvements you can get done in less than a day that will transform the look and feel of your bathroom. Check out these ideas:

• Update the sink. If you have some basic plumbing knowledge, this is a project you should be able to do on your own. A new sink can make the entire vanity look like new.

• Buy new decor. New shower curtains, towels, window coverings, mats, etc. can transform the look of a bathroom.

• Install new hardware. Replacing cabinet hardware may not seem like much of a change. However, it can have a surprisingly big impact. Shiny new hardware is like jewelry. It stands out.

• Replace the vanity mirror. Even if there are no scratches, an older mirror is like an old pair of glasses. It can become foggy. No amount of cleaning will make it any clearer. When ordering a replacement mirror, be sure that your measurements are exact.

• Paint. There’s no doubt about it. A fresh coat of paint makes any room look better.

These bathroom improvement projects can make a huge impact on the look of your bathroom. And, they can all be done affordably and in just a day or two.

Selling your Home? Choose the Right Photos

They say a picture speaks a thousand words. That’s certainly true in real estate. Sure, property descriptions are vitally important, but photos are essential. Especially these days, when so many people view listings online, the right photos can mean the difference between a buyer becoming interested in your property or moving on to the next listing.

So, what photos should you take?

Recent studies suggest that the more photos the better. Property listings that feature several photos tend to attract more buyers than those with just a single picture or none at all. So, you’ll want to have plenty taken. Some of the most effective shots include:

• Photos of each room.
• Desirable features, such as a gorgeous fireplace.
• The property facade.
• The backyard and other appealing outdoor features.
• Key rooms from multiple perspectives, such as the kitchen, master en suite, and dining room.

Before having these photos taken, be sure to prepare. If you were having a family photo taken by a professional photographer, you’d probably ensure everyone dressed their best. The same holds true when listing pictures are taken. Make sure your home looks its best.

Get as much decluttering and cleaning done as possible before pictures are taken. Also, if there are any repairs needed around the home, especially ones that are likely to show up in a photo, get those taken care of too.

Of course, if you need to list your home quickly, there are ways to shoot photos that still look great, even before your home is 100% prepared.

Listing photography doesn’t take that long, so scheduling won’t be a big concern.