Choosing a Real Estate Professional

When buying a home—whether it's your first or a getaway vacation home—you're bound to have many questions. Our website offers a wealth of information about the home finding and buying process.

Whether you are selling or buying a home, selecting a real estate sales professional is one of the most important decisions you will make during the process.There are some very important things you should consider when choosing a real estate professional. One of the first considerations is who the agent represents during the process. Real Estate Agencies It is important that you know the differences between a professional who represents a seller (the "traditional" role of a sales associate), a professional who represents a buyer, and one who represents both. In most areas, real estate professionals are now legally obliged to disclose, in writing, information on the various types of real estate agency relationships that exist. You should assume the real estate professional is working for the seller unless otherwise stated. Seller's Agent - A real estate professional becomes a Seller's Agent by entering into a listing agreement to represent the seller's interests. Seller representation may also be created when a real estate professional shows a property on the Multiple Listing Service and "buyer agency" has not been created. The Seller's Agent can provide information to assist the buyer, but they must place the interests of the seller first. A buyer should not disclose anything to the Seller's Agent they do not want the seller to know. Buyer's Agent - A real estate professional becomes the Buyer's Agent by entering into an agreement to represent the buyer. A Buyer's Agent can assist the seller, but does not represent the seller. The Buyer's Agent must place the interests of the buyer first. A seller should not tell the Buyer's Agent anything they would not want the buyer to know, because the Buyer's Agent must disclose any pertinent information to the buyer. Dual Agent - Dual agency occurs when a real estate professional represents both the seller and the buyer. It can also occur when the Listing or Seller's Agent works for the same real estate firm as the Buyer's Agent. In most states, the buyer, the seller, and the Agent must agree in writing for the creation of dual agency. The Dual Agent is required to treat the buyer and seller honestly and impartially. In dual agency, the professional's duties are more limited and there is potential for conflict of interest. You may hear the terms "transaction broker" and "intermediary" in association with dual agency. Interviewing Real Estate Sales Professionals If you are buying a home, the real estate professionals you interview should cover the following: Agency relationships Many real estate professionals who primarily represent buyers have been specially trained to do so and have received the Accredited Buyer Representative (ABR) designation How much home you can afford The difference between being "pre-qualified" for a mortgage and being "pre-approved" for a mortgage Key features you "must have" in your new home vs. those you would like to have How to evaluate and compare the homes you see An overview of the local standard Contract For Sale along with typical addenda and give you a copy for review The types of inspections you will want to have done on the property you select

Buying a Home? Here’s How I’ll Help You.

Helping You Find The Perfect Home To Suit Your Requirements: I’ll make sure you are presented with a selection of homes that suit your needs and requirements. I’ll take the time to find out exactly what your needs are. Then I’ll use all the modern search tools available to find a selection of homes that meet your criteria. I will then pre-screen all the homes on the list to ensure that they fit your requirements, so you don’t waste your valuable time. If you’re out of town, I can take digital photos and e-mail them to you.

Personal, Attentive Service: When you’re touring the homes I have selected for you, I will ensure that I make the time available that you require. I will help point out the features of each neighbourhood that fit with your lifestyle. If you’re moving to the Okanagan Valley, I’ll help you find all the essential services you require, and I’ll make sure you receive all the information you require, in advance.

Negotiation: Once you find your perfect home, I’ll help you negotiate the best deal for you, and make sure that the whole procedure goes smoothly.

Ongoing Commitment and Service For You: Even after the deal is completed and you have moved into your new home, my commitment does not end.  I will always be available to provide information and assistance for real estate related issues and other matters that you need assistance with.

Choosing Your Real Estate Professional

 “I’ve just found my realtor,” a friend told me upon returning from getting her oil changed. She went on to explain that she was waiting for her car, when another customer struck up a conversation with her. They found out they had much in common and then my friend discovered the individual was a real estate professional. “What really struck me,” my friend shared, “was how this person also knew about good investments and discouraged people from buying houses that they loved if the house would not appreciate financially in today’s market.”

In this one true vignette, we can pick up a number of factors that go into choosing which professional to work with. First and foremost is a comfort level. A feeling that you know each other even though you have just met. Second is a sense of trust, that the person has your interests at heart. And finally, a sense that the financial aspects of purchasing a second home are well understood by the agent. What is most interesting is that each of these aspects are purely subjective. What makes one person feel comfortable might not create the same response in someone else. We listen closely to our intuition when choosing someone to be our partner in real estate.

What qualities do you want in your area specialist. Do you prefer an outgoing type, or a quiet, contemplative person? Do you feel age is a factor? Are you more comfortable with a particular gender? And what expertise and education is important to you? Do you need someone familiar with finding homes for families versus singles? Do you need someone who shares the same recreational interests (skiing, golf) so they can comment on the quality of the services nearby? Creating this list before you even look at one property will help you later in your decision.

An advantage of dealing with a team like the Bo Knows Homes Real Estate Team is that you have several people with different skills and personalities to work with you.  We all share the same commitment to making the process satisfying and rewarding for you.

You can create a clear relationship. Spend some time via email explaining to a prospective area specialist exactly what you are looking for: the price range, the time frame, and what you expect your realtor to be able to do to assist you. Then gauge the response you get.

After you let your instinct place its vote, it’s also helpful to bring in some factual evidence for your choice. In real estate, this means looking for particular qualifications. You might start with these:
- How many years has the proposed agent been selling in the area of your interest? (five+ is a good indicator)
- How many properties has the specialist sold in your price range?
- How much experience (number of sales ) does he/she have with contracts
- Is the agent able to provide property investment analysis?
- Does the agent have access to other homeowner services you need, including rental managers and maintenance teams?

If the quantitative answers match your qualitative feeling, you have met your match and can proceed to the real purpose: Finding your dream vacation property, knowing you have a professional who has your interests at heart.

Second Homes

It's here today and building momentum. Why? Because demographics and technology are converging to create a historic opportunity for both buyers and sellers.

There are an estimated 90 million Baby Boomers alone in the Canada and the US today. Those born between 1946 and 1964 totalled 70% more people than were born during the preceding two decades.

The first of the baby boomers just turned 50, starting in 1996. The last of the boomers will be turning 50 in 2014. And since people are most likely to purchase a second home between the ages of 45 and 64, this affluent group of homebuyers could be buying second homes until the year 2030.

Today, thanks to technology, second homes are becoming a place to work as well as play. How you use a second home is up to you. But if it's something you've been considering, now is the time to get the information you need to make an informed decision.

What about me?

You'd probably like to know what kinds of people are currently buying second homes. Well, married couples with or without children are almost twice as likely to own second homes as single persons. Most are over 35 years of age. And the fastest growing segment of buyers are age 35 to 54, without children at home.

What are the preferred locations?

The best locations are no more than two to three hours away from major metropolitan areas by car or plane. For example, Torontonians like Cottage Country. Vancouverites head for Whistler, the Gulf Islands, or the Okanagan. Albertans head for the ski/golf communities of the Rockies or the Okanagan, which offers more year-round variety.

The Okanagan’s appeal as a second home community is based on several factors. The comfortable climate contributes to this as do the number of recreational possibilities. Not many communities offer world class skiing and boarding, golf, boating and water sports, wine tasting and touring and all the other Okanagan activities, in such proximity. There are a number of golf communities, ski villages, waterfront properties, and other recreational properties, available at relatively reasonable prices.

Kelowna Airport provides easy access to several major centres, with several direct flights to Seattle, Vancouver, Calgary, Edmonton and Toronto. In addition, highway access to Vancouver is relatively easy.

What makes for "successful" second home locations?

Natural beauty is great, but don't forget about cultural and social resources, as well as first rate golf, tennis and other popular sports facilities.

How important is personal safety?

Second homes are a discretionary purchase, and everyone wants to feel secure in his or her environment. That's why gated and guarded residential communities will continue to increase. And locations like the Okanagan, Santa Fe, New Mexico, and Coeur d'Alene, Idaho, which are removed from most urban problems, continue to be attractive.

What will be my return on investment?

We won't even try to predict the future. But we can tell you that you'll get more enjoyment out of a property you can get to quickly and can use frequently. And since you know your area, chances are you'll make a better real estate investment closer to home. And be sure to look at each property with an eye toward tomorrow, because the vacation homes likely to appreciate the most are the ones that boomers can play in today and retire in tomorrow.

Let us help you explore the best real estate option for you.

Vacation Living

Turn the vacation spot of your dreams into a vacation home for a lifetime! It's not just the location, it's the lifestyle. It's the place you'd be tomorrow if you could find a way to make it happen. Well, owning a resort property and enjoying the lifestyle that comes with it may start as a dream, but for many it's become a reality. And it could be your reality.

If you're like the 90 million baby boomers now entering their middle years, you may be feeling a strong emotional pull to lead a more balanced life. You want a get-away place. A place to spend more time with your family. That's why a resort property may make more sense than ever.

Thanks to technology, resort properties are now more than just a place to vacation. They're becoming a place to live part time now, and a place to enjoy later in your retirement.

According to a survey by a prominent marketing and public opinion research firm, a vacation home has become the number one status symbol among Americans and Canadians. Almost 70% of those asked say they consider owning a second home a symbol of achievement.

The resort property segment of the real estate industry gives every indication of outpacing traditional residential sales in the years to come. Having a retreat in Key West, Mackinaw Island, Vail or Maui isn't necessarily something people can't live without. But it's certainly something most people can see themselves living with and enjoying for years to come.

What are my choices?

It all depends on the lifestyle you prefer. Do you enjoy golf, tennis, snow skiing, sailing or camping? You should be looking at areas that fit your lifestyle choices. The Okanagan offers all these in one area, at surprisingly reasonable prices.

Should I buy now?

It's never too soon to pursue your dreams. Today, the appreciation in many resort areas is better than in major metropolitan areas. So it's a perfect time to seriously consider investing in a resort property that you can appreciate now and for years to come. The time to start making your move is now, before the Baby Boomers inflate the prices of vacation homes the way they did in the 1970's and 1980's.

What's my next step?

Check with me for a complete selection of vacation homes to suit your requirements. The excellent pricing of properties in the Okanagan is sure to increase, as more and more people from around North America discover it.