Edmonton Homes

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Are your home shopping expectations realistic?

There is no such thing as a perfect house. If you are pre-qualified and have been looking for a home for a long time, there will be one of four reasons you haven't found your dream home


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You can't afford the homes you like.

Either stop looking until you save enough money to purchase your dream home or be realistic what you can afford. Your first home does not to be the forever home. Purchasing your first property is the first step to getting your dream home by building equity. However if you have found a few homes, which would only need a few touch-ups like a new kitchen, talk with your mortgage broker to see if it possible to add a renovation loan into your mortgage.

Chosen the wrong real estate agent to help you.

The majority of Real Estate Agents in Edmonton and the surrounding area have access to the same MLS Data, but if there hasn't been anything which has caught your attention, you can either fire your agent and find one who will work harder for you, which may include knocking on doors in a specific area or making community phone calls to find you a suitable property. Or maybe you are just too picky.

No motivation.

There are many people who prefer to rent. Every month, they pay for someone else's mortgage, helping the homeowner build equity. Or you have signed a long lease and are not in a position to buy. Or you may have a reason for not purchasing yet. If this is the case, stop looking until you are really ready. Every time you view a home, the seller must vacate the premises which means more cleaning and making arrangement to remove children and pets.

You are TOO cheap.

What the asking price of a home is, is irrelevant to the purchase price. For example:if two identical homes are listed at $400,000 and the other at $375,000 and you are still "Low Balling" the less expensive one, you will never get a good price. A good real estate agent will complete a buyers CMA for you, which will indicate a fair value market price and if it is below, you've already made money.


BEST REAL ESTATE TIP: No matter what type of market we are in, the longer you postpone your purchase, the more money you will lose. Eventually, house prices will go back up in Edmonton, but so will interest rates!

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Come in, Welcome to our Open House!

Open houses are great for the listing real estate agents because it gives us an opportunity to meet the neighbors who may be thinking about selling their home and to pick up new buyers.


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When real estate agents host an open house, the ultimate goal is to sell the home. The real estate agent who is hosting the open house is representing the seller, has already spent time and money and anyone who walks through the door needs to understand, the agent will be asking you questions.


If you are only looking for decorating ideas or you are already under a Buyer's Brokerage Agreement, let the hosting real estate agent know. We have Rules, Regulations and a code of Ethics, whereof, we are not allowed to interfere with another REALTORS® Clients. However, if you are not currently working with a real estate agent, REALTORS® are always looking for new business.


If you are interested in the property and would like more information on the home, call your current agent - DO NOT tell the listing agent. Anything you tell the hosting real estate agent will be disclosed to the sellers and in the event, you write an offer on this property, information can be used against you in negotiations. It is our job to work in the best interest of our clients which would include informing the sellers of all interested parties.


Real Estate Agents are also responsible for ensuring the proper care of the home while showing. If you have children, please hold their hands and don't be offended if the REALTOR® is following you everywhere.


If you are just starting your new home search and have questions or would like a real estate buyer representative to help you through the process (for free), contact us.

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Understanding Buyers Brokerage Agreements

Buyer Brokerage Agreements have been around for several years, and only recently has been mandated for real estate agents to have buyers under agreement when working in a "client status". This legal change created security for both consumers and real estates in Edmonton and throughout Alberta. This form states the responsibilities of both the buyer and their real estate agent including:


  • The mandated Fiduciary Duties, to protect interests of the buyer
  • The buyer cannot hire more than one broker or real estate agent to represent them
  • The term of the agreement. Depending on the real estate market and how long the real estate agent chooses to work with a buyer, this agreement is normally 30 Days to 1 year and allows enough time for the buyer to purchase a home. If the buyer has not purchased a home during the time frame, they may extend the agreement or sign with another agent.
  • The retainer fee (normally $1000 - $2500) which is held in trust by the real estate agent/broker and forms part of the buyers down payment.
  • Remuneration is stated in the agreement and can not be changed without written consent from all parties. This protects the agents commissions and allows the buyer to know how much the REALTOR receives for their services. (usually paid for by the sellers real estate agent)
  • While under agreement, If the buyer elects to purchase a property without the help of their real estate agent, they will owe the agency the commission set out as per their Buyers Brokerage Agreement.
  • This agreement also lays out the obligations and duties of the real estate agent ensuring the agency is working in the buyers best interest. Some of these obligations may include

For more information on working under a Buyers Brokerage Agreement, feel free to contact us.

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Questions to Ask a Buyers Real Estate Agent

Below is a great question list for all Edmonton new home buyers. Purchasing a home is one of the largest investments you will make in your lifetime. Choose your REALTOR carefully. Don't be afraid to ask questions. 


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What type of properties do you mostly sell?

  • Purchasing a single-family detached house is different than buying a condominium, new builds or luxury properties. It is important that the Edmonton Real Estate Agent you choose has in-depth knowledge of the type of property you are planning on purchasing.

What is your negotiation style and experience in multiple offer situations?

  • Even in a buyers market, you may be in a multiple offer situation and great negotiating agents have personalized techniques for winning bidding wars. Some agents can be too aggressive and will lose due to their unlikeability, other agents can be too passive. Choose a real estate agent who is creative and on your side.

How many homes did you sell last year?

  • This is a very important question. The average real estate agent in Edmonton sells about 8 properties a year. Some agents will sell over 100 properties per year. If you want a REALTOR® who will spend time with you, is knowledgeable and experience, choosing a real estate agent who sells 25-50 homes a year is your best bet.

Do you have other professionals you work with on a regular basis?

  • Again, another very important question. Agents have relationships with other real estate providers and depending on how this question is answered, it will give you an insight on how long they have been in real estate, but more importantly on how they conduct their business.

Are you full-time real estate agent?

  • Not all Real Estate Agents are full-time REALTORS®. You don’t want someone doing this part-time or as a hobby. Looking at properties for fun is not the same as having fun when looking at homes. When viewing homes, great Edmonton real estate agents will point out the flaws of each home and they all have them, not commenting on how pretty the bedroom is set up.

Do you normally work in my price range?

  • Most Edmonton real estate agents work a wide range of prices, but if they usually help home buyers purchase million dollar homes, you might not be a top priority. Similarly, if you want to purchase new build homes and they normally work on older properties, the agent may not have the right connections for Edmonton home builders.

Will I be required to sign a buyers brokerage agreement?

  • If any Edmonton Real Estate Agents answers "No", find another REALTOR®. The Canadian Real Estate of Alberta has mandated to work with all residential buyers under an agreement. There are 2 types of agreements - Exclusive & Non-Exclusive.

Do I have to work with your recommended service providers?

  • If the agents say “yes”, it’s illegal. Find another REALTOR®. Good real estate agents in Edmonton should have solid recommendations for other service providers, but you should never feel pressured to use their recommendation. A good agent doesn’t do everything on their own. They have a team of other professionals including mortgage brokers, home inspector, contractors, Conveyancers, real estate lawyers, etc.

Can I review all documents before I sign them?

  • A good real estate agent will take the time to explain the documents and provide you with ample time to review important documents. Never feel pressured into signing. Real Estate Contracts are a binding agreement and it is important you understand them thoroughly prior to signing.

Do you use e-signature or DocuSign?

  • An e-signature is an electronic signature and gives you an indication of how internet savvy the real estate agent is. electronic signature also eliminates the need to print, fax, scan, and ship documents and are time documented. During this conversation, your agent will also mention auto-prospecting, which is a system to keep you updated the moment a new home which meets your criteria arrives on the Edmonton or surrounding area market.

How long have you been a licensed real estate agent?

  • This question is one that cannot be missed. Experience in the real estate industry is important. The longer a real estate agent has been selling real estate, the more transactions they have likely completed.

Do you attend the inspections?

  • Inspections are a contingency or buyers condition when purchasing a home. If any real estate agents in Edmonton or the surrounding area, tells you don't really need one, find another REALTOR®. You may think an inspection for a condominium or a brand new property is a waste of time and money, but have an inspection can save you thousands of future dollars and find unforeseen issues. New Home warranties have limitations.

How will I know how much to offer when I find a home?

  • Listen carefully to how the real estate agent answers this. If the REALTOR® pulls title and does a buyer's Comparative Market Analysis or CMA, congratulations, you have found yourself a great Buyers Real Estate Agent.


Feel free to contact us if you have any questions or need help with purchasing your dream home.

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How to find a QUALIFIED buyer

Finding a QUALIFIED buyer for your home is not easy. Everyone wants to own real estate, but not everyone can qualify. If you have been trying to sell your property and are finding it difficult to find a buyer for your home, there are some tricks to the real estate trade. Especially now with the government restrictions put upon us with qualify at 2% higher than your interest rate.


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Open Houses

Open Houses in Edmonton can be hit and miss. You can't put up signs and expect a buyer who is in a position to purchase, who thinks your home is perfect and is qualified to purchase to walk off the street and put an offer on your home. It is not that simple. Keep an open mind. Most buyers attending Open Houses are still in the "looking stage". Open Houses can receive constant foot traffic if done right. Read more on how to have a productive open house.

Adjust your expectations

Not everyone who inquires on your home is really interested. There is no such thing as a perfect home. You may love your home, but the reality is, your home is only a tangible commodity. Appraisers, inspectors, lawyers, financial institutions, and BUYERS can appreciate the effort of any upgrades, but it really comes down to money. Even if you find a buyer who is willing to pay more for your home because it staged, does not mean it will be appraised at the agreed upon price, therefore cannot sell.

Talk to REALTORS

Expect calls from Edmonton Real Estate Agents. Listen carefully. You will know in the first few minutes if they are looking to help you sell (list) your home or have a qualified buyer who has inquired through them. Buyers who are working with real estate agents in Edmonton, are under a signed Buyers Brokerage Agreement and must fulfill their obligations if interested in your home. The real estate agent will be asking questions, lots of them. The agent is working in the best interest of their client buyer and is working in the best interest of their client.


The agent may be looking for more business and is calling to list your home. Take the time to talk. You may not want to list your home at this time, but if you are the one asking questions, you may learn something which will help you sell your home on your own. There are many real estate agents do not deal with buyers and specialize in listings only.

Marketing

There is more to marketing a home than putting your property on the MLS which impacts Realtor.ca, putting a sign in the front yard and adding a key box to your entrance. Advertising by word of mouth is a big advantage. There are almost 4000 Real Estate Agents Associated with the Edmonton Real Estate Board who talk to each other. Tell your friends, family, co-workers, doctor, dentist and everyone you meet. Marketing your property to attract buyers who are qualified and in a position to purchase a property takes work and experienced, tech-savvy REALTORS have the know-how. This includes knowing the absorption rate in your neighborhood.


Find a great Edmonton Real Estate Agents who target markets homes to find the right buyers

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Data is deemed reliable but is not guaranteed accurate by the REALTORS® Association of Edmonton.