Patrick Kavanagh KRI Property Group | Seal The Deal With These Real Estate Etiquette Rules

Spring has finally arrived in most parts of Canada and that means that the real estate market is in a full-on frenzy! In recent months we've seen unprecedented levels of activity in the real estate markets in Canada, which means even more opportunities for etiquette blunders by both buyers and sellers. 

In hope of saving you some embarrassment, no matter what side of the deal you're on, here are my top real estate etiquette faux pas for savvy buyers and sellers to avoid.

Faux pas for buyers:

1. Taking photos inside a property without asking

Just because a home is for sale doesn't mean that you have the right to post photos of it all over social media. Sellers will typically arrange to have professional photos taken of the home that show off the best aspects of the property to the market. It's invasive and just generally offside to take photos of a seller's personal space without permission. It should go without saying that then posting that photo to social media is totally inexcusable.

2. Making yourself TOO comfortable in a home
Whether it's not taking your shoes off, lying on beds or using the bathroom, making yourself too comfortable in a house that's for sale is inappropriate. Cailey Heaps Estrin, managing partner and sales representative at the Heaps Estrin Real Estate Team suggests that "when viewing properties, the buyers should do their best to show up on time, not take photos or post pictures/comments to social media, etc. If they are viewing homes with their children, please make the effort to ensure the kids are not jumping on furniture, etc."

3. Showing up late for showings (or, worse, cancelling last minute)

Life happens but in order to set up a showing, a lot of people are involved. Sellers have to leave, agents have to arrive, messes must be tidied -- it's quite a process. So when buyers don't respect that process by being late or cancelling it's disrespectful to everyone involved and as Ms. Heaps Estrin aptly notes that "buying and selling is an emotional process for all parties. As such, it is important that everyone is treated with respect."

Faux pas for sellers

1. Not responding to agents in a timely manner

In our current chaotic market, real estate agents are working incredibly hard for their clients on both sides. Realtors acting for the sellers are not only communicating with their clients, but also all of the buyer's agents, and let's not forget about the massive marketing efforts that agents undertake. With all of these stakeholders it's vital that you are responsive to your agent.

According to Nicole Zarry, a realtor with Chestnut Park Real Estate, Ltd., "They may have some time sensitive information for you that effects the sale of the home, even an offer that for whatever reason needs to be discussed in a respectful timeline both benefiting yourself and respecting the work of your agent and potentially the buying agent resulting in a better outcome for everybody!"

2. Leaving your home a mess right before a showing

Although it's impossible to keep your house immaculate at all times while your home is being listed, there is definitely an expectation that during the sales process sellers will have to work extra hard to keep their home looking its best. Your agent is not your maid and should never be expected to clean up after you.

Ms. Zarry says sellers should "let the agent focus on presenting your place the best that it can be. Scurrying around to to hide dirty dishes and make beds takes away from your agent's focus and affects the chances that your house is seen in its best light."

3. Hanging around the house during showings

No matter how cute you think your children are or how much you want to hear what people think of your house, sellers should make themselves scarce during showings and open houses. Ms. Zarry advises that "having the sellers in the house during showings makes the buyers and their agents uncomfortable, so they tend to run through the showing of your place much quicker leaving less time for them to fall in love and picture themselves and their family in your home."

For More Information: Lisa Orr

Fate of Walton Group’s real estate provides test of ailing Alberta market

 The financial woes of Calgary real estate firm Walton Group are likely to be a litmus test for Alberta’s ailing commercial real estate market, with industry players closely watching the fate of the developer’s lucrative sites.

Walton, an international real estate investment and development firm, filed for creditor protection earlier this week under the Companies’ Creditors Arrangement Act, owing hundreds of millions of dollars to thousands of retail investors, as well as to major Canadian banks and construction lenders. The court-supervised restructuring applies only to the company’s Canadian subsidiaries, which represent about 15 per cent of Walton’s entire assets.

In Edmonton, where Walton is among the city’s largest owners of land that is close to being ready for development, the company’s court filing came as a surprise.

“Nobody expected to hear that Walton would be going into CCAA,” said Andy Horvath, a partner in the Edmonton office of Churchman & Wakefield. “It’s a big deal because the name is well-recognized.”

Walton is one of Canada’s largest private real estate investment companies, owning more than 100,000 acres of property in Alberta, Ontario and several U.S. states.

According to securities filings in January, 2016, the company had raised more than $3-billion in recent years for active land sites by selling ownership stakes in properties to thousands of retail investors in Canada and internationally. Much of the money was raised by way of private investment offerings outside of the stock market.

Walton has hundreds of sites in Canada and the United States spread out across what court documents describe as an “extremely complex structure of more than 600 corporations, limited partnerships and other entities.”

The company’s investment dealer arm, Walton Capital Management Inc., voluntarily surrendered its registration to the Alberta Securities Commission last month. It stopped raising money in Canada more than a month ago, according to sources.

In the past Walton was predominantly a land-banking company, buying land and then reselling it to investors by way of fractional interests in the land, or units in limited partnerships. Investors typically paid more than double what Walton had initially paid for the property.

It focused on purchasing sites at the fringes of urban boundaries and then sitting on the land for years until it could be sold to developers at a hefty premium. According to securities filings, some investors were told to expect to wait eight years before they would see a return on their investment.

In many cases, Walton investors reaped lucrative rewards, with property values in Edmonton soaring 300 to 400 per cent between 2000 and 2005, said Darren Snider, a specialist in land sales with Avison Young in Edmonton. “They bought the land at the right price,” he said. “And I think their investors did very, very well.”
But in recent years, the company slowed down its land purchasing in the city and started trying to develop some of its properties itself. That required Walton to take on additional debt to pay for improvements, such as building roads and other infrastructure. At the same time, Walton reported in court filings that it started to struggle to raise new money among investors.

It reported that sales of its land-banking investments fell from $134-million in 2012 to $19.6-million last year. Walton said it has lost $67.3-million over the past three years and slashed its employee numbers from 469 at the end of 2013 to 96 by last month.
The company blamed its woes on a change in appetite among U.S. developers for its properties south of the border, which made it more difficult to fund its Canadian operations, along with the dramatic slowdown in home-building in Alberta after oil prices nose-dived in late 2014.

Industry experts point out that unlike land-banking, developing land can be a risky proposition that in Alberta has usually been reserved for large firms with deep pockets that can afford to wait years before they make a profit.

For More Information:- Tamsin McMahon

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What’s being built nearby?
 

New framework tasks can be advantageous or unfavorable to your speculation property. Discover what's being arranged and when it's expected for fruition by signing onto www.infrastructureaustralia.gov.au. This has connections to all state framework arranging divisions.
 

What's it worth?
 

A property's offering cost doesn't mean it's justified, despite all the trouble. Put resources into a property valuation – generally beginning at around $350 – to evaluate the property's actual worth and afterward utilize that to consult on the cost. Selecting an autonomous and ensured value to survey the estimation of a property before purchasing or offering can help speculators arrange the best cost, decrease hazard and spare cash.
 

What’s happening in the local market?
 

What's occurring in the neighborhood specifically affect the property showcase – either contrarily or emphatically? An ideal approach to discover? Get out there yourself. As mentioned in Patrick Kavanagh scam clearance report go to the neighborhood retail strip, search for the standard and style of retailers there and evaluate whether gentrification has occurred or is going to. It's likewise shrewd to take a gander at neighborhood socioeconomic, wrongdoing rates and work drivers in the region – investigate the Australian Bureau of Statistics' sites, www.abs.gov.au.
 

What's the rental potential?
 

Because a specialist says a property will acquire $ 400 seven days in the lease, doesn't mean it will. Utilize property entryways, for example, www.domain.com.au and www.realestate.com.au to get a practical thought of rents on tantamount properties and request that an autonomous organization do a rental evaluation. Properties are frequently under or overrated and a rental evaluation will give you an exact picture.
 

Capital gains or rental return?
 

You have to consider whether you are pursuing rental returns or capital pick up and on account of various speculations, it ought to be the last mentioned. The rental pay will help you hold the property yet it won't help you purchase once more. Capital picks up ought to be, in the early phases of speculation, top of your rundown since it will enable you to purchase your second and third property. On the off chance that you take a gander at the high rental return and low capital development, you'll be staying there quite a while before you have any value to accomplish something else.
 

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