Upper End Luxury Home & Condo Sales Hit Record Levels in 2017

 As previous reported in my regular real estate blog titled "What A Difference A Year Makes" I reviewed the overall real estate market activity for the first two months of 2018 versus the same time last year.  Essentially we are seeing the same diminished sales activity in the upper end "luxury" segment of the market as we are seeing overall, 2018 is indeed getting off to a slow start.

  During 2017 the southern Georgian Bay region saw an unprecedented increase in the demand for and sales of higher end properties priced from $750,000 and up. We consider $750,000 as the base starting point for upper end property sales in this area as typically this represents the top 10% of the local MLS® market locally.

  Luxury home and condominium sales have been steadily increasing in recent years but 2017 brought forth exceptional results with total MLS® sales above $750,000 totalling 245 properties, an increase of 51% over 2016.  We are now four months into 2018 and the real estate market here in the southern Georgian Bay area and in many other areas including the Greater Toronto Area(GTA) has changed significantly from this time last year. See my blog post "What A Difference A Year Makes."  The market has clearly cooled off.  In the 1st Quarter of 2017 (January through March) upper tier home and condominium sales over $750,000 totalled 49 properties.  In the first three months of 2018 that number dropped by 8% with 45 sales above $750,000 reported through the MLS® system of the Southern Georgian Bay Association of REALTORS®.

 The GTA is a major feeder market for us here in the southern Georgian Bay area.  This year has gotten off to a slower start in the GTA as well as in outlying markets such as Oakville, Burlington, Guelph, Kitchener, Waterloo and London.  Condo sales in the GTA have remained relatively strong but single family home sales and especially those at the high end of the market are well down from this time last year.  Sales of homes price over $1 million are down 55% to 60% across the GTA and into Burlington, Oakville and Hamilton.  A recent report published by the Financial Post states that luxury home sales in Toronto have been "hit hardest."  Clearly the current market is not the same as it was this time last year.

At this point in time we can only speculate what the remainder of 2018 is going to bring.  I have been a full time REALTOR® for over fifteen years and I watch market activity and statistics closely.  I remain very confident about the demand for area properties in 2018 but at the same time, we can not ignore some key factors that will impact sales in 2018 including increases in mortgage lending rates, tighter lending rules overall and the foreign buyer's tax which has no doubt impacted sales in the Toronto (GTA) area. 

  For the most part housing inventory will probably remain low in 2018 with the exception of the upper end of the market.  As of this post there were 142 area properties listed for sale on the MLS® system of the Southern Georgian Bay Association of REALTORS® priced over $750,000.  Given the current rate of sales this year that represents close to 10 months of inventory.

  If you are serious about selling you home no matter what price range it is in,  pricing your property realistically this year will be key in attracting a worthy buyer.  In the first few months of 2017, multiple offers and selling prices were happening at a rate unlike any of us in the local real estate market had ever seen.  While we are continuing to see some properties in the lower price ranges attracting multiple offers with strong pricing, it's not to the same extent as this time last year.

  Has the market crashed?  No but it has changed and market conditions overall have slowed significantly from last year and ultimately this can be good for both sellers and buyers.  A strong, "balanced" market with adequate inventory and conditions that favour neither buyers and or sellers to a greater degree than the other is the ideal environment for all of us to be in when it comes to our real estates needs and goals.

  More on this in future posts.  In the meantime  please feel free to Contact Me  for a qualified and unbiased consultation regarding your real estate selling or buying needs and objectives.

Property Sales Between $1 and $2 Million Are Up 88% in 2017

  Through the first nine months of 2017, MLS® unit sales overall across Southern Georgian Bay have actually decreased from one year ago with 12% fewer properties sold through the local MLS® system than in the same period last year.  The one exception to this is the upper end of the market where the sale of higher priced homes and condominiums is significantly higher this year resulting in an 8% increase in MLS® dollar volume.  MLS® dollar sales totals $876 million to the end of the 3rd Quarter and it’s all due to the sales of upper end homes and condominiums in the region which are those properties priced $750,000 and higher.

  Through the end of the 3rd Quarter, MLS® home and condominium sales priced $750,000 and higher are up 88% from this time last year with 196 sales reported this year compared to 104 in the first nine months of 2016.  The combined value of these 196 sales is just over $203 million, almost 21% of the total market. The real strength is in the $1 to $2 million segment which has doubled this year with 99 sales compared to 49 sales during the same period last year.  Not so many years ago, a $1 million property sale in our area caught your attention.  Now it's almost an every day occurrence and this trend is increasing as the number of luxury home and condominium properties valued at $1 to $2 million and higher grows annually.

  Not surprisingly the Blue Mountains is where the bulk of the higher end homes are located.  Year-to-date, 70 of the 196 sales (39%) reported above $750,000 are in the Blue Mountains close to area ski clubs, in the Thornbury area or west at Lora Bay. The Town of Collingwood is a distant second with 40 sales above $750,000 through the first nine months of the year.  By comparison in 2009 there were just two MLS® sales in Collingwood over $750,000 plus I sold an unlisted property in the town that year for just over $1 million.  Here we are eight years later and we are on track to do well over 50 MLS® sales in Collingwood this year above the $750,000 mark.  The main driver behind this trend is the growing influx of buyers coming from the Greater Toronto Area where they have sold their former residence for $1 million dollars or more and are retiring to Collingwood and the neighbouring municipalities.  How soon with this trend end?  I believe we are only in the early stages of this retirement migration and we have ten to twenty years of solid growth yet to come in this and all aspects of the local real estate market.

   As of this post there are 163 active MLS® listings in our market area priced $750,000 and higher.  This translates into about 7.5 months of inventory at the current rate of sales.  Understandably, the higher a property is priced the longer it will typically take to sell.  Buyers with $1 million dollars or more in their pocket are not as plentiful as in the lower price ranges.  Add to this the fact that upper end buyers are by their nature very discerning with specific tastes and the time to successfully market an expensive property to secure a worthy buyer goes up even more.

  It is not surprising that the Blue Mountains is not only home to the larger number of higher end sales but also the highest average sale price for properties in the upper price ranges.  Whether it is Osler Bluff, Craigleith, Alpine or Georgian Peaks,  buyers are willing to pay more to be closer to their private ski club and these clubs along with the Georgian Bay Club or Lora Bay golf courses tend to create the biggest draw in terms where affluent buyers are willing to make a significant real estate purchase. 

  Please feel free to Contact Me and I would be happy to share my  knowledge and experience of the Southern Georgian Bay luxury real estate market in order to assist you with making you the right choice for your buying and selling needs.  These properties are different from your run-of-the-mill homes as are buyer and seller market participants that deal in them that is why you need a qualified and knowledgeable REALTOR® to assist you in making qualified decisions.  

  A copy of this information is available to download by clicking here.

High End Home & Condo Sales Up 73% in 1st Quarter

  As with the local real estate market overall, luxury, upper end home and condominium sales have been very robust in the first quarter of 2017.  MLS® sales of properties valued over $750,000 are up 73% during the first three months of this year compared to the first quarter of 2016.

  Sales reported through the MLS® system of the Southern Georgian Bay Association of REALTORS (SGBAR) for the first quarter total 52 properties valued at $750,000 and higher compared to 30 sales in the first quarter of 2016.  The total value of these 52 sales is $55.6 million compared to $35.2 million in ales last year during the same quarter an increase of 58%.  Despite the significant increase in sales, inventory levels of properties over $750,000 have increased.  As of this post there are 150 active MLS® listings for properties priced above $750,000 up from 138 listings at the start of the year.  The total value of these listed properties is $214.4 million.

  The Blue Mountains remains the major area where the bulk of higher end homes and condominiums are sold.  1st Quarter MLS® sales in the Blue Mountains totals 24 units with a combined value of $29.5 million.  These 24 sales in the Blue Mountains represent 46% all all higher end property sales in our market for the first quarter of 2017 followed by Clearview Township with 13 sales totalling $13.6 million.  1st quarter MLS sales in Collingwood amounted to 6 properties with 5 in Grey Highlands and 4 sales in Wasaga Beach.  No sales above $750,000 in either the Municipality of Meaford or Mulmur Township were reported during the first quarter.

  As previously mentioned the inventory of higher priced homes and condominiums is on the rise and I suspect we will see this trend continue. Why?  Over the past year or so we have seen a dramatic increase in vacant lot sales most of these in the Blue Mountains.  Buyers of higher priced homes and condominiums in the area are often private ski club members with a desire to be close to their respective club.  Of the 96 vacant lots sold through MLS® in the 1st quarter, 58 of those (60%) were in the Blue Mountains.  Building versus buying a resale home looks very attractive to many affluent Buyers allowing them to build exactly what they want.  This might help to explain why the inventory level of properties over $750,000 is on the rise.  I will be watching these statistics closely over the next several months and will report regularly as to what is happening.

Pricing Your Luxury Property To Sell

So you’ve decided to sell your home, condo or perhaps it’s a vacant lot.  As per my prior post, the #1 reason that properties sell or fail to attract a buyer is PRICE.  Sure, we can debate the matter location, condition and the desirability of the neighbourhood etc. but at the end of the day these are all factors relative to price.

  No matter how well maintained and up-to-date your home is or the fact it is in a great location, price is ultimately the most significant factor in securing a Buyer.  Today’s Buyers are forever fearful of over-paying.  Further, the Internet has enabled Buyers and Sellers to become very knowledgeable and informed.  Via their online searching and comparative shopping, they get a good sense of values. They know which properties have been listed for an extended periods of time and they determine by looking at photos and virtual tours which ones are physically worth going to view. 

 I would hazard to guess that when most Sellers decide to sell and contact a REALTOR®, the scenario unfolds like this.  The REALTOR® arrives at the property with little if any information to review with Mr. and Mrs. Seller other than perhaps a couple of MLS® data sheets for some other sales in the area.  They take a tour of the home with the Sellers then sit down to discuss price.  The REALTOR® will have a price in mind that they have arrived at based on the comparable MLS® sales they may have printed off in conjunction with their just completed tour.  Mr. and Mrs. Seller will also have a price in mind.  The Seller’s price will be based on the following:

• What they paid for the property plus any money they have since put into it.
• What they feel the home would cost to replace if you were to build it today.
• What they need to get out of the home in order to move on to the next home they wish to purchase.
• What their neighbours have told them their property is worth.  This price is usually high as the neighbour is selfishly protecting their own interests and  the perceived value or their property.

  The fact is, none of the above matters and is of little consequence to a Buyer(s).  The property is ultimately worth what a willing Buyer is prepared to pay.  For the most part, the most they are willing to pay is an amount equivalent to what other comparable homes in the area have sold for.  The REALTORS® job is to analyze the market, look at what has sold, what hasn't and also take a look at what is currently listed for sale as that is what the Seller(s) will be competing with.

  In order to effectively do the necessary legwork to establish price, as a Market Value Appraiser I prefer the two stage listing approach.  The first visit is to gather information about the subject property which can then be used to compare it to other recent sales in the area.  Differences in lot size, location, the size of the house, number of bathrooms, features, finishes and other criteria all need to be reviewed, with dollar adjustments made for the many differences that are bound to exist.  Only then can you arrive at a realistic selling and listing price.  In some instances and this is especially true with higher end homes, they may be no good comparables.  Nonetheless, conclusions can and still be drawn in order to arrive at a realistic price that will resonate with Buyers.  This entire process takes some research and skill.  It’s not a matter of pulling a number out the air so-to-speak or simply listing it for what the Sellers want.  Doing so will probably result in the property being listed for an inordinately long length of time coupled with the need for multiple price reductions in order to secure a sale.  When this scenario unfolds, the property may in all likelihood, sell for less money than it would have if priced correctly at the start.

  If you are interviewing a REALTOR® with the intent of listing your property for sale, the onus is on the REALTOR® to provide you with the following information:

• A summary of other properties in the area that have sold?
• How do they compare to yours in terms of location, size, condition & features etc?       
•  How long did it take for these properties to sell?
•  What was the listing versus sale prices for these properties?
•  What other area properties are currently for sale that you will be competing  with?

  There are other questions to ask as well but I think you get my point.  Selling your property is more than having a REALTOR® walk through and throwing out a price with nothing to substantiate it.  Doing so will inevitably result in an unduly lengthy days on market, the need for multiple price increases and in the end, a sale price lower than what you mind have attained early on had the property been priced so as to be in the market versus just on the market.

  Pricing a luxury or higher-end home is often a much different matter than what I have described above.  Finding a comparable sale(s) to a $1 or $2 million plus property can be a challenge. If you are the owner(s) of a luxury, high end property I will in the next post on my luxury home blog  “Southern Georgian Bay CarriageTrade Homes” talk about the process used to arrive at an appropriate price for that distinctive one-of-a-kind property.

  One closing comment.  Everyday I see REALTOR® ads offering "FREE Home Evaluations."  With about 100,000 REALTORS® in Canada there are tens of thousands of "FREE Home Evaluations" being offered.  As a seller, insist on obtaining one that is done thoroughly and professionally utilizing some of the guidelines I have explained above.

Why Is My Luxury Home Not Selling?

We are now almost one and a half months into the new year.  Despite the relentlessly cold weather we have been having, spring will indeed come and with it, an upturn in the real estate market as traditionally happens once the better weather arrives.  

  As previously reported, 2013 was the best year in six years in terms of the number of properties sold through our local MLS® system.  Further, it was also a “record” year in terms of dollars sold with almost $625 million in properties changing hands via MLS® sales in our market area.  Luxury home sales in the area were also strong last year with 26 properties selling over $1 million.  With all this positive news, some sellers are probably asking themselves; “Why is my house (or condo) not selling?”  

  Earlier this week I completed an update course in order to renew my MVA (Market Value Appraiser) designation.  This designation must be renewed every two years and it requires taking some additional courses relative to appraisal in order to do so.  The course I completed was titled “Pricing to Sell” and it reinforced some of the various appraisal methods and steps taken in order to accurately value a property.  As I worked my way through the materials it really struck me that a large percentage of REALTORS® are not aware of and or do not follow the necessary steps to establish accurate property valuations.   

  The #1 reason that properties do not sell is PRICE. I know this may seem like I am over simplifying things but let’s look at the follow scenarios:

1 - The home make simply be just over priced.

2 - The home may be priced too high for the neighbourhood.  Having the most    

      expensive home in the area is not a good thing.

3 - The house may be dated and in need of renovation and upgrades.

4 - The house may be situated in an area that for some reason has become 

      undesirable ie: increased traffic or it has been re-zoned so as to allow 

      commercial uses etc.
5 - There is a lot of housing inventory on the market to compete with.

6 - Market conditions have changed, perhaps interest rates have gone up or the 

      economy has slowed down.

  Every one of these six reasons is in some way tied to price.  The first two are obvious, but what about the other?  If a home is dated and in need of some renovations, the price needs to reflect that.  It needs to be priced in such a way that if the buyer is in fact interested in the property, they will want to purchase it at a price that will allow them to undertake and finance the required.  Some buyers may just simply not want to get into a "project" and there is little you can do about that.  

  As for items #4 and #5, if a home is situated in an area where the land use and zoning have changed or say a new highway went in, you may need to price it lower in order to attract a buyer.  If there is an abundance of inventory listed for sale as there now is, you may have to lower the price to attract a buyer.  As of this post there are 104 properties listed for sale over $1 million.  If the economy has slowed or interest rates have increased etc. then again the price may have to be adjusted to account for those factors again in order to attract a buyer.  One way or another all of these reasons tie back to the issue of price.

 At the end of the day, maybe you made a bad choice in the REALTOR®  you selected to list and market your property.  That too may relate back to price.  Did they prepare a comprehensive evaluation which they reviewed with you to arrive at the current market value of your home?  Many times they don't instead just throwing out a price at which to list the property without doing any research or worse, they listed it at a price dictated by the seller.

 As we approach spring and head into the prime selling season, I am going to spend some time talking about price as it is the most crucial component in getting your home or other property SOLD!  In my next post I will review several ways in which a property evaluation can be prepared in order to arrive at a realistic market price.  There is a difference between having your property "on the market" versus "in the market" and my desire is to show you how you arrive at the latter.  Stay tuned.....

The Luxury Segment Is The Main Driver For Economic Growth

From time to time we have all heard and probably lamented over the old sayings “…. the rich get richer” or “the haves versus the have-nots.” Due to sweeping economic changes like reductions in the North American manufacturing sector etc., the middle class appears to indeed be shrinking.  If anyone doubts this trend, the New York Times just ran an interesting article attesting to this and while it speaks to the U.S. let’s face it, we are pretty much cut from the same cloth here in Canada.

  One only needs to look at our own local economy which has changed dramatically in recent years with many of our manufacturers closing their doors only to have those higher paying jobs replaced by minimum wage retail or service sector employment.  Not surprising we are not alone in this situation as across Canada and the U.S. those businesses that cater to “middle-of-the-road” consumers ie: retailers such as Sears are struggling while high end stores like Saks Fifth Avenueand Neiman Marcus are flourishing and for the first time, are moving into Canada staking their claim of the growing high end retail sector in this country.  

  As further reported in the New York Times article, General Electric is experiencing a significant growth in sales of its Cafe´ upper end appliance line.  Whether or not they actually cook is irrelevant.  Affluent Buyers or those building a luxury property obviously want and are prepared to pay for high-end appliances with features like double ovens, hot water dispensers and more.  This fact relates back to my prior post wherein I stated luxury properties need to have the requisite amenities such as these in order to both attract a high net work buyer as well as to substantial your asking price.  I have found that among affluent Buyers, quality has now become more important than quality.  A 6,000 or 7,000 square foot home with middle of the road features, finishes and amenities will not command the same level of interest as a 4,000 square foot residence that has been superbly finished and contains the latest in high tech features.  
How does your home stack up?  

Announcing My Live Play - Georgian Bay APP

I have commented from time to time in prior posts about how much technology has changed not just our daily lives.  It has also had a profound impact on entire industries and professions including the role of REALTORS®.

  Smartphone and mobile device usage has grown significantly over the past couple of years.  It’s not just our kid’s texting that has increased mobile device usage.  CBC News reported back in July of last year that Smartphone usage by Canadian adults had increased 33% from the prior year.  With this in mind, I am very pleased and excited to announce the launch of my own real estate APP, Live Play – Georgian Bay which I believe is the first such APP for our area. 

   

  Available for iPhone, iPad and Android devices as well as HTML for Blackberry and similar platforms,  Live Play – Georgian Bay is aimed at providing consumers with current and relevant information that will assist them with their real estate buying and selling needs.  Our role as REALTORS® has changed, much of it driven by technology but also by the changing demands of today’s consumer.  As professionals, consumers expect and need their REALTOR® to readily provide a degree of information, knowledge and service with respect to real estate that is consistent with the degree of expertise they receive from their lawyer or accountant.

  More than just an MLS® search tool, I have developed Live Play – Georgian Bay in such a manner as to give users access to an abundance of information via their Smarthphone or mobile device including my quarterly Georgian Triangle Real Estate News and Condo Communique newsletters, blog posts, open house notices, access to Royal LePAGE TV help videos and more.  I have endeavoured to develop an APP that will both engage and inform my clients and users.  My intent is to build an online community, a place where users can share photos of their new or perhaps dream home, their latest home renovation project or to simply ask questions or post comments.    

  While I believe my APP is the first of its kind in the area, it will not remain static or stale.  I will continue to refine its features in tandem with today’s ever changing technology and in accordance with what people want.  As REALTORS® we must demonstrate our knowledge and willingness to assist consumers without expecting anything in immediate return.  With my APP and other initiatives such as this blog, I not only want to keep my current and past clients informed about our local real estate market but I hope my efforts will provide a degree knowledge and service to others, earning their respect, trust and perhaps future real estate business in the years ahead.

 Please click on this link to download the correct APP for your respective device.  After exploring its use I would love to hear your feedback and do not hesitate to mention other features you would like to see. 

Dealing With the Home Inspection Part 2

When dealing with the terms of an Agreement of Purchase and Sale, Sellers and Buyers often face-off over issues that me be identified as the result of the Buyer’s home inspection, which can jeopardize not only the negotiation process but the very sale itself

  Just like humans, every home will have its own personality if you will.  Certain characteristics and yes issues that may or may not constitute a “fault” and a reason for a Buyer to either abort the purchase, or solicit a price reduction.   Just as Sellers need to address the appearance of their home from a cosmetic standpoint when listing their home for sale, attention should also be paid to maintenance issues that have been neglected.  Does the roof need to be repaired or replaced?  Is there evidence of water leaks such as stains in the ceiling?  Are plumbing faucets leaking, have some windows lost their seals and are fogged up.  These are all factors that (a) represent how well a home has been maintained and (b) are  items that a good home inspector will identify and flag in a report along with some issues that may not be readily visible to the casual observer.

Depending on the property, Sellers may be well advised to have their own home inspection done prior to listing.  This is not meant to take the place of a Buyer’s home inspection but it will serve top identify items that should be addressed prior to listing the home for sale and eventually haggling with a Buyer over.

  From my experience, most Buyers are reasonable.  Buyers looking at a century old farmhouse will for the most part be prepared to deal with a host of things that a home inspector may find.  That is part of owning an old house.  Someone buying a newer home however may not be so tolerant.  Regular maintenance of small items that have been neglected will probably not be questioned by a Buyer as most of these will be duly noted when the Buyer views the property.  Personally, I do not feel that a Buyer should be looking to amend a price to repair items that were clearly visible when they viewed the property that is simply a Buyer trying to take advantage of someone.   It is the larger unforeseen items that are uncovered via a home inspection that will no doubt raise concerns and perhaps bring about a change of heart with the Buyer.  Is there inadequate insulation in the attic?  Is their aluminum or in the case of older homes, knob and tube wiring present?  Galvanized pipe in older homes is another issue that is of concern?  Is the furnace and or air conditioner, or the swimming pools liner on their last legs?  These are just a small sample of what a home inspection might uncover that could impact a Buyer’s decision to move forward with their purchase of a specific property.

  As a REALTOR®, I may handle the situation differently if I am representing the interests of a Buyer versus a Seller.  The following are some of the options available to Buyers and Sellers in terms of how to negotiate dealing with issues that may arise from a home inspection. 

• -          First, the Buyer may simply not fulfill or waive their home inspection condition by the required date.  As such the deal becomes null and void and the buyer’s deposit is returned to them.
• -          Second, the Buyer requests (in writing) that in exchange for the Seller fixing the items at the Sellers expense prior to the closing date, the Buyer will remove their condition and firm up the purchase.
• -           Third, the Buyer can ask to have the previously agreed to price amended ie: reduced in order that they do the needed repairs at their own expense after closing.  This price reduction can be done up front or it may be done as a credit to the Buyer on closing.
  

 Sometimes a Seller may dig in their heels and insist that they will do nothing to remedy a problem that may have been identified in a home inspection.  That is most likely not the most prudent position to take.   Being unwilling to fix a problem or consenting to a price adjustment may result in losing the sale and they will only have to face the same issue with the next Buyer that comes along.

  As always, my best advice to Sellers is to get your home in top shape before you list it for sale.  In the event your home needs something like a new roof, furnace or other such item and the funds are simply not available that’s okay.  Your REALTOR® can price the property accordingly which should take the item off the table when it comes time to negotiate with a Buyer as the issue has theoretically at least already been dealt with via the price.

  For additional information about home inspections, see my Home Cents Help Tip “The Importance of a Home InspectionBefore Buying.”

Just Out - The Latest Issue of My Georgian Triangle Real Estate News

Further to my last post, luxury home sales in the southern Georgian Bay area during 2013 remained strong yet as we start 2014, there remains a significant level of available inventory over the $1 million mark.  

The latest issue of my Georgian Triangle Real Estate News summarizing the entire local real estate market for 2013 now available to 
download.

New Changes Announced Affecting Real Estate Commissions

In recent years, real estate commissions have become a topic of frequent discussion with many consumers of the opinion that commissions charged are too high or perhaps it’s a matter that the perceived value they received from their REALTOR® was not commensurate with the commission or fee charged.

  Contrary to what consumers may have been lead to believe, real estate commissions are and always have been negotiable.  The only real restriction that has been placed on commissions is not the amount that can or cannot be charged but rather the format of how commissions are calculated but that is about to change.

 The real estate profession is governed by Provincial law, specifically the Real Estate and Business Brokers Act (REBBA 2002) Previously as per REBBA 2002; a real estate brokerage could charge either a flat fee to list and sell a property or a percentage of the sale price, but not a combination of the two.  Recent amendments to REBBA 2002 have removed this restriction, allowing brokerages to have the option of developing fee or commission structures that may include a combination of a flat fee and a percentage of the sale price.

  This now gives brokerages the additional flexibility in how they structure pricing to suit their business needs and desires of their specific clients.  Personally I view this as a win win situation for REALTORS® as well as consumers.  Every property and every selling circumstance is different and this change as to how real estate fees/commissions are derived provides greater freedom to address each situation in a manner that will garner the best results for everyone involved.

  Ultimately, market forces will determine which fee structures are attractive to consumers. It is more important than ever for consumers to understand what services their REALTOR® will provide and how or who will pay for those services.

 If you are contemplating the sale of your property and are not certain as to how the new rules affect you, please feel free to contact me and without obligation I would be happy to discuss and clarify the issue for you.