QUOTES this MONTH
“Expect problems and eat them for breakfast.”
– Alfred A. Montaper
“Be yourself; everyone else is already taken.”
– Oscar Wilde
“Live as if you were to die tomorrow.
Learn as if you were to live forever."
“The secret of getting ahead is getting started.”
– Mark Twain
ASSOCIATION OF REGINA REALTORS®
"February" MLS® Stats
In February 2018, there were 189 sales reported in all geographic areas during the month, compared to 139 sales recorded in 2017.
In the city, three were 1,225 active residential listings on the market at the end of February, up over 14% from 2017's 1,052.
There were 531 new listings placed on the MLS® System during the month of February in all geographic areas, up 5.8% from 2017's 502. In the city, 400 were posted, up 2.8% from the 389 in 2017.
The ratio of sales to new listings for the month was 38% in the city and 35% in all geographic areas. These relatively lower sales to list ratios tend to point to buyer's market conditions. Balanced market conditions are generally in the 40-60% range -- below 40% is considered to be more of a buyer's market -- above 60% is considered to be a market favouring sellers.
A trend in the city of Regina which began in 2017 , we saw an increase of active listing inventory in particular a large supply of condos. Condos account for 28% of the total active lisitngs stated Gord Archibald, Chief Executive Officer of the Associaiton of Regina REALTORS® Inc.
In 2017, there were 3,271 residential sales reported in all geographic areas, down 4% from 3,408 sales in 2016.
In 2017, for year-to-date, the average selling price in the city was $318,372 compared to $319,003 in 2016 -- a decrease of 0.2%.
In 2017 for all geographic areas, the year-to-date average sale price was $316,156 -- a decrease of 0.1% from $316,619 posted in 2016.
In December 2017, houses listed an average of 64 days before selling compared to 53 days in 2016.
For more Regina real estate stats go to
Source of information from the Regina MLS® System
What your REALTOR® would like you to know
Yes, there are some dishonest real estate salespeople out there,
just as there are terrible people in every profession.
Yes, there are some dishonest real estate salespeople out there, just as there are terrible people in every profession. These sales reps have hurt the public financially and broken the public’s trust. They should be fined heavily and banned from real estate.
But there are also many real estate salespeople who are trustworthy and work hard every day. They demonstrate their integrity even when it costs them a paycheque. They will tell you the truth even when it’s something you don’t want to hear. That’s how important it is to them to be upfront and honest.
To every one of you who have been hurt by a dishonest sales rep, we grieve with you and offer our humblest apologies that you’ve been through that. It makes us sick too and angry that our reputations are lumped in with the bad guys.
We work hard to make ourselves available to you…evenings, weekends, holidays and late at night. That means we give up family time to make sure you are getting what you need as our valued buyers/sellers. But there are times we need time away with our families, so we pay another trusted salesperson to look after you while we are unavailable. Then we stay in close touch with them to make sure everything goes well.
Clients who worry about wasting our time are never the ones who do. Please don’t call the listing agent to see their listing because you don’t want to bother us. It puts the listing agent in a conflict of interest working for their seller, but not knowing they are being expected to look after our buyer. Call us and we will make sure you can see the listing as soon as possible.
And the reverse is true. If we are the listing agent, please be honest when we ask if you are working with a REALTOR® . We don’t want to interfere with an existing relationship…and we don’t want to waste our time when you are working with someone else.
We value our relationship with you and your family. Buying/selling a home is often a strangely emotional and intimate experience…we spend a lot of time with you and usually get to know you well. We grow to love your kids because we see them so often (and face it, they are great kids, right?). That’s why we treasure your referrals to family, friends and coworkers…it means you treasure our relationship too.
We are only human, and there are times when we fail, but we do our best to do our best for you and your family. If there is a problem, please talk to us first and give us a chance to solve the problem. Expectations are a funny thing…it’s impossible to meet them if we don’t know what they are. And remember, we have expectations of you too, so let’s be upfront about how to work best together.
Although we can pick out problems with a property just because of our experience, we aren’t roofers, plumbers, electricians or foundation experts. That’s why we ask you to get a home inspection done. Home inspectors don’t pay us to refer you to them…we just think it’s wise to have an independent set of eyes looking at this huge purchase you are making. And yes, home inspectors miss stuff all the time, but they do their best too.
Being a REALTOR® is an expensive business to be in. Unless you are self-employed, it’s often hard to understand the risks we face financially every day and the expenses we cover just to be in business. Sometimes we go months between pay cheques, then get several in one month…so we must manage our money well to make sure we can be responsible financially. We pay for everything ourselves, from our liability insurance to advertising, car expenses to staffing, professional dues and fees to continuing education (which are required to keep our licensing). We must work for a brokerage, and they get a substantial portion of every dollar we make. So that great big pay cheque you think we get is a whole lot smaller than you imagine. Most of us do this job because we love it, and the people we get to meet and work with.
We do a lot of work we don’t get paid for behind the scenes…from advice given to research done, then miss the paycheque because the seller sells their home privately using the information we gave them. Or the buyer we showed a gazillion homes to goes and buys privately. And yes, we can go after them for commission, but that doesn’t build good customer relationships in the end. We usually just sigh and move onto the next client.
We value you. You’re important to us and we respect how difficult buying or selling a home can be. Please be patient with us as we work hard on your behalf!
With author's permission, this article was copied from the REM Magazine.
The REALTOR® Code
CREA’s REALTOR® Code has been the measure of professionalism in organized real estate for over 40 years. The first code was approved in 1913; members approved the first code of ethics specific to CREA members in 1959. The Code has since been amended many times to reflect changes in the real estate marketplace, the needs of property owners and the perceptions and values of society.
A REALTOR’s® ethical obligations are based on moral integrity, competent service to clients and customers, and dedication to the interest and welfare of the public. The REALTOR® Code, by setting high standards of professional conduct for REALTORS®, helps to protect Canadians’ rights and interests. It also creates a level of trust between REALTORS® and their clients.
A STRICT STANDARD OF CONDUCT
The REALTOR® Code establishes a standard of conduct, which in many respects exceeds basic legal requirements. This standard ensures the protection of the rights and interests of consumers of real estate services. As a condition of membership, all REALTORS® agree to abide by the Code.
Key items of the Code include:
- REALTORS® must disclose in writing whom they are representing as an agent in the transaction, and explain to parties in a transaction the details of the agency relationship; and
- REALTORS® can’t acquire an interest in property (either directly or indirectly) without disclosing the fact that they’re real estate professionals.
THE CODE AND THE LAW
The REALTOR® Code establishes obligations that may be higher than those mandated by law. However, in any instance where the code and the law conflict, the obligations of the law must take precedence.
Courtesy of: Canadian Real Estate Association (CREA) CREA.CA