Monday, November 15, 2010

What is Buyer Representation?

You are a beautiful row attached townhouse with a stone front, vertical concrete steps and pillars to adore your exterior and support a second storey portico. You have impressive hardwood floors; hardwood staircase with wrought iron pickets and solid oak hand rails. You have a finished upper level as a master bedroom retreat complete with Juliette balcony replete with railing to seek the morning rays of sunshine that adorn the Toronto Skyline.

You are two years old and facing a potential building site for additional townhouses, that currently is a demolished building site strewn with construction rubble and fenced to avoid additional dumping. The potential upside is enormous; they downside risk equally colossal.

The owner's purchased this wonderful freehold townhouse and adorned it with ceramics, upgraded lighting, slate and backlit lime stone back splash to enhance their lifestyle and entertaining, To impress their guests and visitors.


I did not decide to sell, You decided to sell and place yourself on the open market.

It is not my fault that the market does not appreciate your upgrade selections and enhancements to the same dollar for dollar investment that you paid. It is not a loss on a property when the March sale (Spring Values are in anticipation of Values where Fall [November] Values are historic) prices are not achieved in the fall as the market is slightly softer seasonally. [factually about 1.5 – 2% deviation]

You could have waited and hoped that prices would rise in the spring of 2011.

My job is to represent my Purchaser. My function is to inform educate and obtain the best terms and pricing in favour of my client. My client is under a Buyers Agency. I am sorry that you were angry at my tactics. I am sorry that you felt you were taken advantage of….

But to say you lost money…..

Let’s be clear. Having a Happy Real estate transaction is great! Having a buyer Score on a property is the best! That is called Buyer Representation. We looked at all the available properties and made a selection based on days outstanding, [days on market] variance to initial asking price, number of price reductions, examined last sold data, trended values to 2007 with annual appreciation and calculated deviation from last sale based on market timing. I think my client is pleased.

Next, my client will be placing their place for sale. Now, I am here to defend their value and use my negotiating skill and the same clear imperical data to obtain the most for them. Informed Clients are empowered to act decisively with confidence not emotionally.

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