Qualities That Make A Great Real Estate Agent

When it’s time to buy or sell a home, we all want to feel like we’ve picked the best agent in town. Learn about 10 qualities that make a great real estate agent? Check out these 10 tips for selecting a great real estate agent to represent you in the Victoria area.

Qualities That Make A Great Real Estate Agent

1. They “get” you and they understand your motivation. If you’re selling they understand your reasons and what you want from the sale of your home. If you’re looking to buy, they care about your budget and your needs. They’ll keep all of this in mind and take care of your best interests.
2. They have experience and will happily provide references to other satisfied clients.
3. Great agents continually update their education and training and make sure they stay current on real estate matters, trends and regulations.
4. They’re excellent communicators and will keep you in the loop on everything from their marketing plans and what’s happening in the market to listing agreements and feedback from showings or open houses. The best agents explain what’s going on with negotiations, offers, and subject removals and keep you up on what’s happening throughout the entire process.
5. They will listen to you – what you want and what your expectations are. So they can market your home in the best possible way, they’ll ask questions about your home and listen carefully to your answers.
6. Great real estate agents are adaptable and will work with you in a way that suits your needs. Do you want to hear from them every day? Do you prefer to communicate with text or phone calls, email or face to face? Your agent will understand these things and individualize their responses in a way that guarantees your satisfaction.
7. They’ll keep their clients motivated. Even during difficult situations, a great agent will keep a positive outlook because it’s critical to their success to make sure their clients feel supported and happy.
8. New things don’t scare them. They’re willing to try new things to stay on top of trends and technology. If there’s a new social media platform or device or they need to learn new skills, they’ll do whatever is necessary to educate themselves.
9. A great real estate agent understand that your timeframe is important. If you need to buy a home by a certain date, or you have to sell by a specific deadline, they’ll do everything they can to meet your expectations.
10. The licensing board does not have any complaints, violations or disciplinary actions against the agent. If you want to verify your agent is the great person you believe they are, you can check the Real Estate Council of BC website at recbc.ca to find out about a specific individual.

At RE/MAX Camosun, and through our RE/MAX University, our agents are always undergoing training and updating their education. This means they know what’s current, what’s new and what’s coming up with issues, technology, real estate rules and the market.

Choosing a RE/MAX Camosun agent ensures you’ll get a great real estate agent and the best service in town, from agents who have all of the above qualities and so many more. Call RE/MAX Camosun today at (250) 744-3301 and ask how we can help.

Selling Your Home? Prepare Your Finances

If you’re selling your home, before the offers start rolling in, you should prepare for the massive amounts of money that will pass through your hands and prepare your finances. Still have a way to go paying off your mortgage? Here are some things to consider.

Prepare your finances & mortgage “discharge”

Many people use the proceeds from the sale of their home to “discharge” or pay off their mortgage. If you have what is known as an “open” mortgage, you can pay it all off without any penalties. If you have a “closed” mortgage, be prepared to pay a penalty. The penalty amount will depend on a number of factors, including how much time is left on the term of the mortgage.

If you’re buying a new home, is your mortgage “portable”?

A “portable” mortgage means you can take your mortgage money with you and buy a new home, without penalty. This can be a real bonus if the interest rate on your mortgage is lower than existing rates! If your new home is more expensive, and requires more mortgage, you’ll have to borrow the extra money at the current market rate. One of the many reasons you should prepare your finances.

Maybe the buyer is “assuming” your mortgage

Your mortgage may have a feature that allows the new buyer to take over your mortgage. If the interest rate is lower than existing rates, this can be a very enticing selling feature for your home.

Become a mortgage lender yourself

If your buyer is having trouble arranging all the money to buy your property, you may consider lending directly to them. This is called a “Vendor Take Back” mortgage, and it’s often used by sellers to help move a property in a slower market. This is an incredibly complicated financial dealing, and you must talk with your REALTOR®, financial advisor, and lawyer before choosing this route.

If you find your new dream home before you’ve started to sell your old one, talk to your existing mortgage lender. You may be able to arrange “Bridge Financing”. This is when your lender (the bank) is confident your existing home will sell quickly, and they agree to lend you the down payment for your new dream home.

If you find your new dream home before you’ve started to sell your old one

Talk to your existing mortgage lender. You may be able to arrange “Bridge Financing”. This is when your lender (the bank) is confident your existing home will sell quickly, and they agree to lend you the down payment for your new dream home.

Capital gains tax

If the home was your primary residence, you will not have to pay taxes on any capital gain (the increase in the value of your home). If you had tenants living in part of your home, such as the basement, you will pay capital gains tax on a portion of your profits. You may also owe capital gains tax if you’re selling a vacation or investment property. Talk with an accountant to find out what you’ll have to pay.

GST for professional services

Your lawyer and REALTOR® are providing services that are subject to GST/HST. 

Do you have more questions about mortgages? Contact the on-site mortgage brokers, Mortgage Architects, or our office at 250-744-3301 or toll free: 1-800-663-2121.

Choosing Superior Real Estate Services

Buying a home is one of the most crucial decisions for a family.  When making a purchase of this magnitude, buyers and sellers want to know they’re in good hands. At RE/MAX Camosun, our agents offer superior real estate services.  By guiding clients through the process of this incredible time RE/MAX Camosun offers stability, the power of a globally recognized brand, and intimate knowledge of Victoria. RE/MAX Camosun agents receive the highest-level of training in education, technology and support, giving them the outstanding edge needed to list and sell your home.

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