Verbal proposals are most often brought forward at the counter offer stage with comments like, “We really don’t want to waste your time, so would you speak with your client and find out if X is acceptable to them?”

Recently, an agent tried to sell me on the idea of presenting a complete verbal offer to purchase on one of our listings. She said, “My client has to leave town right away. Would you check with your seller to find out if they would take X?”

To her credit, at least she was clear and honest that she was concerned about wasting her time, and her clients, and not trying to convince me that a verbal offer was a courtesy she was extending to us, so as not to waste our time. Still, my reply was, “No, I won’t, but if you’d be kind enough to put it in writing I’d be happy to present it to them immediately.”

Why? Verbal negotiations are reckless and unprofessional. Where a real estate agent is involved, they’re actually illegal.

Section 58 (1) of Saskatchewan’s Real Estate Act

An offer to purchase obtained by a registrant:

(a) is to be in writing, dated and signed by the buyer in the presence of a
witness; and
(b) is to clearly show, prior to execution by the buyer:
(i) the date on which the offer is made;
(ii) the names and addresses of the buyer and seller;
(iii) the street address or legal description of the real estate;
(iv) the price offered by the buyer and the terms and conditions of the
offer;
(v) the amount of deposit, if any, made at the time of the offer and
whether or not that deposit is to form part of the price;
(vi) a brief description and list of any chattels that are to be included in
the price;
(vii) the date of possession by the buyer and whether possession is to be
vacant or otherwise;
(viii) the date of adjustments;
(ix) the time and date by which the offer is to be accepted;
(x) the name, address and telephone number of the brokerage; and
(xi) any other information prescribed in the bylaws.

We get paid good money to represent our clients and to protect their interests. Creating binding agreements, and avoiding misunderstanding and the squabbles that arise from them is part of that. With the standard forms that are provided for us it literally takes ten minutes to complete an offer to purchase. Web based forms can be tweaked and resubmitted for presentation in seconds. Surely, doing it right can’t be considered “a waste if time.” This is, in part, what agents are paid for. Trying to bridge the gap that exists between a willing buyer and seller is never a waste of time when the proper procedures are followed, even if the time spent only makes us aware of what isn’t presently possible.

If your agent is suggesting a verbal negotiation he or she either lacks respect for, or knowledge of the laws that govern our business. Either way, that should get you thinking.

Samuel Goldwyn said, “A verbal contract isn’t worth the paper it’s written on.”

Samuel Goldwyn was right!

Let’s do this right. Let’s do it in writing.

I’m always happy to answer your Saskatoon real estate questions. All of my contact info is here. Please feel free to call or email.

Our Saskatoon home search tool offers MLS listings represented by all real estate brands, presented with more detail than you’ll find anywhere else. Check it out here.

Norm Fisher
Royal LePage Saskatoon Real Estate

One of the characteristics of an MLS® listing is an “offer of compensation.” The listing brokerage agrees to share the negotiated commission with any other brokerage that might bring a buyer who agrees to purchase the property. That offer of compensation is published with the listing data on the member based MLS® system.  In most cases, the compensation offered gets lower as the price of the home goes up. Most commonly, we’ll see something like what you see below.

3% on the first $100,000, 2% on the second $100,000 and 1% on the balance of the sale price.

Recently, I noticed an MLS listing priced at $399,900 with the following compensation offer.

0% on the first $350,000, 25% on the next $50,000 and 3% on the balance of the sale price.

If you were about to make an offer on this house would you want to know that your agent could be earning nearly two times the commission available on most listings in this price range? Would you want to know that your agent would earn an extra $250 for every additional $1,000 you agreed to pay?

Should you be entitled to full disclosure on this extraordinary and unusual compensation offer?

I think most buyers would want to know and I’m also of the opinion that they’d be entitled to know. Don’t be afraid to ask your buyer’s agent how he or she is paid and instruct them to advise you if you’re about to make an offer on a property that has any selling incentives or extraordinary compensation offers available on it. Better yet, understand that you’re really paying the fee and agree up front on how much it will be.

I’m always happy to answer your Saskatoon real estate questions.  All of my contact info is here. Please feel free to call or email.

Real estate geeks can follow our daily updates on Twitter @norm_fisher.

Our Saskatoon home search tool offers MLS listings represented by all real estate brands, presented with more detail than you’ll find anywhere else. Check it out here.

Norm Fisher
Royal LePage Saskatoon Real Estate

By way of Brendan King’s Twitter stream.

As a licensed Asian, I found this particular misunderstanding quite amusing and so did the other Asians in my office, but discriminatory practices are no laughing matter and fair treatment for all human beings is a cornerstone of a civilized society.

The Saskatchewan Human Rights Code was written to protect people from discriminatory practices. The following are “prohibited grounds” for discrimination under the Code;

(i) religion;
(ii) creed;
(iii) marital status;
(iv) family status;
(v) sex;
(vi) sexual orientation;
(vii) disability;
(viii) age;
(ix) colour;
(x) ancestry;
(xi) nationality;
(xii) place of origin;
(xiii) race or perceived race; and
(xiv) receipt of public assistance.

Section 10 and section 11 of the Saskatchewan Human Rights Code deal specifically with discriminatory practices in the sale or leasing of real estate.

Discrimination in the purchase of property prohibited

10(1) No person shall, on the basis of a prohibited ground:

(a) deny to any person or class of persons the opportunity to purchase any commercial unit or any place of dwelling that is advertised or in any way represented as being available for sale;

(b) deny to any person or class of persons the opportunity to purchase or otherwise acquire land or an interest in land; or

(c) discriminate against any person or class of persons with respect to any term of the purchase or other acquisition of any commercial unit or any place of dwelling, land or any interest in land.

(2) Repealed. 2007, c.39, s.4.

(3) Nothing in subsection (1) prohibits the sale, the offering for sale or the advertising for sale of a place of dwelling for occupancy by persons over 55 years of age exclusively.

Discrimination in occupancy of commercial unit or housing accommodation is prohibited

11(1) No person, directly or indirectly, alone or with another, or by the interposition of another shall, on the basis of a prohibited ground:

(a) deny to any person or class of persons occupancy of any commercial unit or any housing accommodation; or

(b) discriminate against any person or class of persons with respect to any term of occupancy of any commercial unit or any housing accommodation.

(2) Subsection (1) does not apply to discrimination on the basis of the sex of a person with respect to housing accommodation, where the occupancy of all the housing accommodation in a building, except that of the owner or the owner’s family, is restricted to individuals who are of the same sex.

(3) Subsection (1) does not apply to discrimination on the basis of the sex or sexual orientation of a person with respect to the renting or leasing of any dwelling unit in any housing accommodation that is composed of not more than two dwelling units, where the owner of the housing accommodation or the owner’s family resides in one of the two dwelling units.

(4) Nothing in subsection (1) prohibits the renting or leasing, the offering for rent or lease or the advertising for rent or lease, of any housing accommodation for occupancy by persons over 55 years of age exclusively.

The Saskatchewan Human Rights Code is here.

I’m always happy to answer your Saskatoon real estate questions.  All of my contact info is here. Please feel free to call or email.

Follow our daily updates on Twitter @Norm_Fisher.

Norm Fisher
Royal LePage Saskatoon Real Estate

“What makes Ms. Ummel different is that she is suing her agent, saying it was all his fault.”

I came by this story from today’s New York Times by way of the 1000 Watt Blog, one of my favorite daily stops.

Naturally, I can’t speak to the facts of this particular case and it’s my guess that it will be a difficult argument to make. However, the story should serve as a reminder to agents that there is more to representing a client than finding them a home and putting a contract together.

Ultimately, we are responsible to “protect and promote the interests” of our client. If they’re offering to pay more than market value, they have a right to know it. They depend on us to tell them the truth.

Nobody can predict the direction of a real estate market with absolute certainty, yet almost daily I hear from people who claim that a Saskatoon real estate agent has told them that prices are going to go through the roof this spring. Just three weeks ago, one agent stood in my office and relayed portions of a conversation he had with a buyer. “This house will be worth $X by spring. I guarantee it!”

“Hmmm…and I think you just did guarantee it.”

If your agent is using this kind of language, he or she may be either ignorant or reckless. I could be wrong, but it’s worth thinking about.

The full New York Times story is here.

I’m always happy to answer your Saskatoon real estate questions.  All of my contact info is here. Please feel free to call or email.

Follow our daily updates on Twitter @SaskatoonHomes.

Norm Fisher
Royal LePage Saskatoon Real Estate

Maureen’s decrial of the current state of the Saskatoon real estate market is a testimonial to her social conscience and it’s obvious that her concerns are sincere at every level. She points to the challenges and consequences which are inevitable in a market that experiences such rapid and significant change. Rising property taxes and insurance rates, increasing levels of debt, and uncertainty about the future are all things which are on Maureen’s mind right now.

I share many of the concerns which she expressed. I am also a parent, and coincidentally I have one daughter and one son, both young adults, so I’ve spent lots of time considering how this “new Saskatoon” will affect them. I’m also keenly aware that there are many residents in this fine city who will face challenges which will dwarf those that my own kids might experience as a result of this “boom.”

Maureen also takes the opportunity to place a little blame for what’s going on, starting with Premier Lorne Calvert and wrapping up with the real estate industry. She says, “I also blame the real estate industry and its new method of taking bids on houses, instead of taking offers. When my father was in real estate, there were some ethics involved. I don’t see that now.”

This attempt to “blame the real estate industry” and suggest that there is something unethical about “the new method of taking bids” would be easy enough for most to agree with, particularly those who are facing the challenge of buying a home in this market. Ultimately, it demonstrates a lack of understanding as to the role of a “seller’s agent” in the real estate transaction.

Since it is “ethics” which are questioned here, let’s take a look at some of the ethical guidelines which may apply from the Canadian Real Estate Association’s Code of Ethics which all REALTORS® are sworn to uphold.

Article 3 – Primary Duty to Client – A REALTOR® shall protect and promote the interests of his or her client. This primary obligation does not relieve the REALTOR® of the responsibility of dealing fairly with all parties to a transaction (Also appears in provincial statutory legislation in the Saskatchewan Real Estate Commission Bylaws, section 702).

Article 12 – A REALTOR® shall render a skilled and conscientious service, in conformity with the standards of competence which are reasonable expected in the specific real estate disciplines in which the REALTOR® engages.

Article 18 – The business of a REALTOR® shall be conducted in strict accordance with all statutory and regulatory requirements.

Ethics and statutory regulation aside, we have volumes of agency law decisions which define an agent’s obligations to his or her client. Agency law provides a history of expectations which are considered reasonable and holds an agent accountable and liable for damages which result from a failure to act as a fiduciary to the person or persons who have hired them. In its simplest form, the agency relationship is founded on obedience, confidentiality, competence, disclosure, accountability, trust and loyalty.

Finally, the listing agreement used in Saskatchewan binds a seller’s agent to the following promises to his or her client;

• obey the seller’s instructions on the Exclusive Seller’s Brokerage Contract and all lawful instructions of the seller;
• represent the seller’s best interests;
• fully disclose known facts which might influence the seller’s decision;
• maintain confidentiality of personal and financial information discussed with the seller even after the Exclusive Seller’s Brokerage Contract expires;
• safeguard the seller’s documents and money; and
• exercise reasonable care and diligence.

I expect that most people do understand that multiple offers on a property most likely places the seller in the best possible position to negotiate a favorable price and terms. Given that are bound by a Code of Ethics, statutory law, agency law and our promise in writing to act with complete loyalty to the seller, how is it that we are viewed as “unethical” for making as many prospective buyers as possible aware that a client’s home is for sale? I would suggest that failing to make every effort to deliver the best result for a client would be unethical and unlawful.

Discussions which I’ve had with Al Jacobsen, Registrar of the Saskatchewan Real Estate Commission and with Randy Katzman, a local real estate lawyer suggest that agents who fail to provide adequate exposure for a client’s property could be subject to both prosecution and civil litigation with potential consequences including large fines, license suspension or cancellation, and damages which might result from that negligence. Personally, I’m not much into any of that.

Every time that a seller’s home is sold without a reasonable level of exposure to the market, a betrayal is committed. Every time an agent brings a seller’s property to the market and provides buyers with reasonable access, a promise is fulfilled. Seller’s benefit and so does the community of Saskatoon real estate buyers.

Please don’t call the Saskatoon real estate community unethical for doing right by its sellers. They pay us a hefty chunk of change for representation and they deserve to get exactly what they’ve paid for; obedience, confidentiality, competence, disclosure, accountability, trust and loyalty. Acting as one’s agent is an honour and a privilege that should be taken seriously.

Read also: Deceptive agent practice could cost sellers money

Read also: Who is your real estate agent looking out for?

Read also: Premium Saskatoon homes sell while market is still at work

I’m always happy to answer your Saskatoon real estate questions.  All of my contact info is here. Please feel free to call or email.

Follow our daily updates on Twitter @SaskatoonHomes.

Norm Fisher
Royal LePage Saskatoon Real Estate

This is not exactly important real estate news but I couldn’t resist writing a small snip about this story.

It seems that the popular A&E reality program, “Flip This House” has run a number of episodes which amount to nothing more than a sham. Featuring self proclaimed “real estate developer” Sam Leccima, the episodes represent his renovation projects as having been sold for huge profits. As it turns out, most of them haven’t actually sold and at least one of them wasn’t actually renovated.

To make matters worse, it’s clear that Sam Leccima is the target of a number of civil suits from prospective investors who trusted him to invest their money wisely. One gentleman claims to have lost $100,000 to the smooth talking television celebrity.

A&E claims to have no knowledge of the sham and they have pulled all episodes which feature Leccima from their re-run schedule.

Thanks to Doug Quance for the heads up on this bit. Doug is an Atlanta based agent who has been on top of this home town story since October of last year when he noticed some of Sam’s sold properties were still listed for sale.

I’m always happy to answer your Saskatoon real estate questions.  All of my contact info is here. Please feel free to call or email.

Follow our daily updates on Twitter @SaskatoonHomes.

Norm Fisher
Royal LePage Saskatoon Real Estate

The front page of today’s Star Phoenix says, “Tenants feel pinch: Heated market driving increases in rental charges.”

The story references the predicament of a Saskatoon woman, Marilyn LePage who faces her third rent increase in the last twelve months. She has written a letter to city council asking, “What can be done to keep rent increases and frequencies under control for myself and other Saskatoon citizens?”

The answer she received was sure to disappoint as council made it clear that “rent controls” fall outside of the local jurisdiction. City solicitor Theresa Dust reminded those present of past attempts by the province to place controls on rents and noted that it produced “poor results.”

This is one of the sad realities of a real estate market which is experiencing a growth spurt. It affects almost everyone, and those who don’t own their own home can be affected the most. They not only move further away from owning a home due to increased cost of housing, but they inevitably pay the price in higher rental costs as market values increase.

I expect that we’ll hear many more stories like Ms. LePage’s over the coming year. East-side apartment style condos are now selling in excess of $130,000. An investor who purchases such a unit with 25% down will face carrying costs of over $850 per month not including maintenance or insurance. At present, that same unit has a market rent of about $700. Assuming the unit is occupied every month of the year, the landlord is a couple of thousand dollars shy of covering expenses. They won’t be excited about that for very long.

At the same time, vacancy rates are falling across the city and that trend is expected to continue as more people move back to Saskatoon. Condo conversions will likely remove a number of units from the rental market over the next two years.

Ultimately, rents are subject to the principle of supply and demand just like resale real estate is. More renters and fewer rental units equal higher rent payments. It’s pretty much unavoidable.

Read the Star Phoenix story here

I’m always happy to answer your Saskatoon real estate questions.  All of my contact info is here. Please feel free to call or email.

Follow our daily updates on Twitter @SaskatoonHomes.

Norm Fisher
Royal LePage Saskatoon Real Estate

If you’ve visited my blog before, chances are you’ve caught on to the fact that I’m very concerned about a practice which is occurring regularly which I believe is deceptive and hurtful to both buyers and sellers. It goes like this; the agent lists the seller’s property and promises to give the home full exposure to the market including all kinds of advertising and more importantly, MLS® service. He then does whatever he can to hide the listing from the market while he makes his best effort to sell the property himself, hoping to pocket the entire commission. Perhaps he lets a few of his best buds from the office in on the game, but for the most part he tries not to let anyone know it’s for sale unless he or someone else from his office has the chance to show it to the buyer.

Why should you care? Well, if you’re a home buyer it robs you of the opportunity to see and consider homes which were supposed to be listed MLS®. It limits your options. If you’re a seller, you should care because these practices are almost certainly going to cost you money; lots of money. Every agent knows that there is a pretty direct relationship between the number of prospective buyers for your home and the price at which your home will sell. If an agent pulls this trick on you, he has no shame. He is a deceptive, selfish person who thinks nothing of stealing from you. He certainly has no regard for the fiduciary duty which he owes to you as your agent.

At first, I was reluctant to bring it up. Now, I’m like a raving lunatic who can’t be stopped until this evil practice is dead. J Please forgive my rambling but I do take this business very seriously.

I did a little research today on Saskatoon and area real estate sales dating back to February 15.

Here’s what I found.

• A seller is more than twice as likely to receive an offer which is above the list price if the buyer is represented by another real estate company (or brand). Last week the average overbid exceeded $6,000 and we’ve seen offers as high as 15% over list price in the past few weeks. As a home seller, you probably want to maximize the chances that it will happen for you.

• Where a listing sold for less than the asking price, the average discount was just .4% if the buyer was represented by a different real estate company (or brand). The discount jumped to 2.4% when the same company (or brand) represented both the buyer and the seller. On a $250,000 home, the difference amounts to an additional $5,000.

I believe that this massive disparity is the result of agents who engage in the practice I’ve described. I can’t think of another reasonable explanation and I’m seeing it happen every day.

There is nothing wrong with entertaining offers from buyer who is working with your agent, or your agent’s company. However, if there aren’t any agents from other companies inquiring on your home, you may want to find out if your agent is playing “hide the listing.” We are currently experiencing the hottest real estate market I’ve ever seen. Make sure your agent is helping you take advantage of it, and not robbing you blind.

I’m always happy to answer your Saskatoon real estate questions.  All of my contact info is here. Please feel free to call or email.

Follow our daily updates on Twitter @SaskatoonHomes.

Norm Fisher
Royal LePage Saskatoon Real Estate

You may have heard me chirp once, or even twice about a practice which is occurring all too often in this fast moving Saskatoon real estate market. I’m talking about MLS® listings which magically sell before they’re even submitted to the MLS® system. It seems that everyday there are several new listings which have been sold before most of the market is even aware that the homes are for sale. It frustrates the heck out of buyers who only want to have a chance to view a home and consider making an offer. It’s an out and out rip off for sellers who would like to sell their homes at the highest possible price.

I wanted to share an experience which I think clearly indicates how the market can work for both buyers and sellers when agents take their duty seriously and actually make an effort to provide a seller’s property with adequate exposure to a very hungry market.

I had listed an attractive property which would be considered to be in fairly high demand. Together, my seller and I arrived at a price taking into consideration both recent sales and other similar properties which were being offered for sale at the time. We completed a listing agreement on a Monday afternoon. Based on his motivation and the time frame in which he wanted to sell we agreed that the listing would be marketed as follows:

On Tuesday I would return to the home to take photographs. I would prepare a nice internet ad which I would post as soon as I completed it. I would follow that posting up with a mass email to more than 300 local real estate agents informing them that the property would be on the market the following day and that they were welcome to call to arrange an appointment to show the property to their buyer. On Wednesday morning, I would submit the listing to the MLS® system. That’s what I did. Here’s what happened.

• 579 people viewed the listing on the Internet.
• The listing was viewed 185 times on the Saskatoon MLS® system by other real estate agents.
• 23 viewings occurred between 11:30 am and 7:30 pm on Wednesday.
• I made or received 137 telephone calls through the course of that day, most of which were related to this listing.
• Several buyers expressed interest and more than one agent attempted to pressure my seller into accepting an offer before other buyers could see the home.
• My seller took my advice that it would be reasonable and fair to review offers later in the evening after the others had had a chance to see it and consider the home.
• At 8:00 pm, I presented 12 offers to my seller. Not a single offer was for less than the asking price.
• My seller accepted an offer which was well above the asking price, and a back-up offer which was almost as strong.

Happy seller, happy buyer, exhausted but very happy seller’s agent.

Now, it’s important to me that you understand that I don’t see myself as a hero in this story. It seems to me that this is what should be expected of me as the seller’s agent. After all, agency law demands that the agent protect and promote the client’s interests, and only the client’s interests.

Am I “the Donald” of Saskatoon real estate? Am I smarter than other Saskatoon real estate agents? No. This is not a terribly complicated strategy. I’ve used it and other similar strategies many, many times. Any agent who has negotiated more than a couple of dozen transactions knows that this approach or some variation of it would be effective for his or her client, especially in this market.

Delivering on your promises and actually doing what you’re being paid to do doesn’t make you special. It’s just the way that it should be, and that’s really all that I did.

Now, consider for a moment another approach that I might have taken, if I didn’t give damn about my client and I didn’t particularly care about the promise which is inherent in an agency relationship; to promote and protect the client’s interest. If that were the case, I could have slipped that listing into my briefcase where nobody but me would be able to see it. Then, I could have gotten on the phone and called the most motivated buyer who has contacted me expressing an interest in such properties. I could have quietly arranged a showing. That buyer likely would have made an offer which probably would have been decent, perhaps just a little lower than the list price. My seller, reasonable guy that he is probably would have accepted it. I would have pocketed a full commission.

Most likely, I would have had a happy seller and a happy buyer. My seller may have even patted me on the back for getting the job done so quickly and effectively. Sometimes, through the smoke and mirrors you just don’t know that you’ve been screwed.

One thing would have been very different though, had I decided to go that way. I would have felt like a failure as an agent, unworthy of the trust and confidence that this client placed in me. I would have known that I could have done more for him, had I not been so interested in helping myself.

Do you have a home to sell? Make sure your agent understands that you expect him or her to be working for you, protecting and promoting your interests. There are many very professional agents working in this market who wouldn’t think of pulling such stunts. You just need to be sure that you’re working with one of them. You deserve no less.

Ask questions and hold your agent accountable. It’s really that simple.

I’m always happy to answer your Saskatoon real estate questions.  All of my contact info is here. Please feel free to call or email.

Follow our daily updates on Twitter @SaskatoonHomes.

Norm Fisher
Royal LePage Saskatoon Real Estate

Sharon, a real estate investor from Calgary, Alberta occasionally visits my blog. If I recall correctly, she contacted me after she read one of my little rants about poor quality images in real estate listings. From time to time, she forwards copies of listed properties which strike her as ridiculous in some way. She has no shortage of material to chose from so she uses her discretion in sending me those which are most fun.

Her latest email was this listing (no longer available), marketed by a Calgary agent who indicates on the listing that it is a “No Animal Home.” This image of the kitchen appears to show two food dishes on the floor in front of the kitchen cabinets. I’m thinking that these people either have a pet, or some pretty nasty eating habits.

Sharon asks, “What are they thinking!?”

Sharon, I think it’s safe to say that someone is not thinking very much.

Mean time, the number of potential buyers continues to mount. There are plenty of motivated buyers waiting in the wings for these types of premium homes. One of those buyers is certainly prepared to pay more than anyone else for one of these two homes. At least, that’s pretty much how it works in most cases. The only problem is, both homes are currently sold, pending unknown conditions. At the time I write this blog, neither listing has yet found its way to MLS® Online. The listings will appear there tomorrow, a day late and a dollar short.

Of course, the question running through my mind is, how much money did these sellers miss out on by accepting an offer before most of the market could even get away from work? This, we’ll never know. Perhaps they somehow managed to connect with that buyer who was willing to pay the most, but I doubt it. Why would anyone accept an offer before the market knows their house is for sale? To me, it’s simply mind boggling. Any thoughts?

Read also: How to Get Serious Buyers Lining Up at Your Door

I’m always happy to answer your Saskatoon real estate questions.  All of my contact info is here. Please feel free to call or email.

Follow our daily updates on Twitter @SaskatoonHomes.

Norm Fisher
Royal LePage Saskatoon Real Estate

The charge resulted from actions Grover allegedly took “to falsify” inspection records which would have indicated that timely property inspections had occurred prior to a fire at his rental property at 214 Avenue E North which killed three-year-old Isabelle Bowron and her infant sister Jordynn in March, 2005. One other adult, Curtis Gifford suffered permanent brain damage from the fire. Jennifer Bowron, mother of the children who perished, along with her three-year-old son William were burned.

The day after the fire, Grover approached the grandmother of the dead children at the hospital and asked her to sign inspection records indicating that timely inspections had been performed, as the law requires. She refused. Grover was later charged and convicted of attempting to falsify records.

In a 2 to 1 ruling, the Court of Appeal concluded that there was “no evidence” that Grover actually knew that the inspections had not been conducted.

Grover has a lengthy history of problems related to his Saskatoon real estate, a portfolio which includes single family homes and apartment buildings. In one five year period over 30 fires were reported at his properties. He’s been convicted of making a false or misleading statement, obstruction of justice, as well as other infractions under the Fire Prevention Act and Saskatoon’s fire bylaws.

Grover claims to be a victim of a fire department conspiracy and seems to sincerely believe that the system is just out to get him.

The first time I ever spoke with Jack Grover he was loudly singing halleluiahs and proclaiming himself a “Christian man.” Such public pronouncements, particularly those expressed during an introduction almost always leave me feeling suspicious and on my guard. He describes himself as a “very, very good man,” yet he seems to have no problem letting his tenants live in poorly maintained firetraps.

Will the death of two young children cause Grover to be filled with Christian conviction? Will he turn over a new leaf and work to improve the properties which he owns, for the sake of those unfortunate souls who have few options for housing?

The principle of supply and demand states that when supply of a product is low and demand for that product is high, the value of the product increases. The law of agency tells us that an agent has a duty of “utmost loyalty” to his or her client and the agent is to “protect and promote the interests of the client, above all others.” With those things in mind, it seems obvious to me that an agent’s objective should be to create as much demand for a listing as possible. Assuming that there is a reasonable level of demand for homes like yours, I can surmise that the more people I can make aware that your home is for sale, the higher the selling price will ultimately be.

Our marketing plan has been designed to reach as many buyers as possible, as quickly as possible, even before the home is officially placed on the market. Assuming that demand for properties like yours is reasonably high our efforts will likely have buyers lining up at your door. I get the word out days before the sign goes up in an effort to create a flurry of interest and activity during its first few days on the market.

If you’re considering selling your Saskatoon home, check out my For Sellers page which details our marketing plans and provides samples of the quality of our promotional work to present your home at its best. I’m willing to bet that we’ll do more to market your home before it’s officially for sale than a lot of others will do while it’s for sale.

I’m always happy to answer your Saskatoon real estate questions.  All of my contact info is here. Please feel free to call or email.

Follow our daily updates on Twitter @SaskatoonHomes.

Norm Fisher
Royal LePage Saskatoon Real Estate

We are currently in a market of low supply and high demand. It doesn’t take an economist to understand that good homes which are well exposed to the market have the potential to draw multiple offers at, or above the listed price. If agents and buyers are aware that your home is for sale there’s a pretty good chance that they’ll be lining up to view your property. Of course, that’s good for you! The problem, in my opinion, is that some agents may be making an effort to ensure that buyers working with other agents are unaware that a property has been offered for sale, hoping to get the jump and sell the home themselves. On the surface, they may come off looking like a real go-getter. In fact, such practices are only good for the agent and potentially they could cost you thousands of dollars.

In a recent post titled, “Can’t Find a House? It’s Time to Get Ugly,” I shared a story of an agent who listed a fine little property for $239,900 which sold very quickly for $260,010. I’m sure that this agent probably had a buyer which would have been happy to purchase this home quietly, before it actually hit the market. Had she behaved in a sneaky and deceptive manner, she would have brought her own buyer before anyone else knew it was for sale and written an offer herself. In a case like that, the dynamics of the negotiation would have been far different than they actually were. In all likelihood, the buyer would have offered somewhere below the list price and the seller may have been prepared to accept that. It’s very doubtful that the seller would have held out for more than the listed price. However, this agent understood her duty to act in the best interest of her seller and placed the property on the open market as she had promised to do and as a result, the buyer who was prepared to pay the most for the home was made aware of its existence and bought it. Both buyer and seller are pleased with the deal that they struck.

All too often, new listings are appearing on the MLS® with a note which says, “Sorry, this one is conditionally SOLD!” Well I say, “How proud you are for selling your client’s home before 99% of the market even knew it was for sale.” Not something I’d want to brag about.

There have been many instances lately where homes are sold before the close of business on the day that they’re listed. While I wouldn’t go so far as to call this unethical, I’m not sure that it’s sound strategy for the seller’s interests. The home is sold and most of the market is still stuck at work. It seems to me that we should at least allow some evening showings before we jump on an offer. Wouldn’t you think?

It’s time that agents came up with some kind of a pre-listing marketing strategy to expose upcoming listings to buyers so that more of them have an opportunity to see and consider the home. I plan to do that over the next couple of days and I will share the details with you when I do. Mean time, if you’re placing your home on the market, ask your agent to submit the listing to the Multiple Listing Service immediately to ensure that as many buyers as possible know it’s for sale. Try not to be so eager to sell that you accept an offer before most buyers can even see it. Yes, you need to deal with offers in a timely manner, but late tonight is as timely as early today and if you give them a chance to see it, the best buyer for your home will step forward and put their money where their mouth is.

I’m always happy to answer your Saskatoon real estate questions.  All of my contact info is here. Please feel free to call or email.

Follow our daily updates on Twitter @SaskatoonHomes.

Norm Fisher
Royal LePage Saskatoon Real Estate