Unrepresented Buyers I know.. Do it yourself

 Effective Dec 1st;   

You can now be an unrepresented buyer.

Prepare your own offer, decide your own price. Add your own conditions.

Have your lawyer prepare the offer....

You sign all kinds of things that you cannot sue me as I did not provide advice or suggestions on clauses or conditions or status or deposits or anything...

No he said she said....

No suing me and my insurance because you did not understand.  
I don't need to explain it...

Is that better? 

https://drive.google.com/file/d/1DNM9niElM-CeEmonZJsPCeNAahx2eOyp/view?usp=sharing

There are significant risks to representing yourself in a real estate transaction if you do not have the

knowledge and expertise required to navigate the transaction on your own. You will be dealing with

a seller or buyer who is benefitting from the services, opinions, and advice of a real estate agent.

It’s important to understand that the brokerage and its agents have a legal obligation to do what is

best for their buyer or seller client. If you are a buyer, for example, the brokerage and its agents are

working for the seller and must promote and protect the seller’s interests in the transaction.

Be aware that the agent is obligated to share anything you tell them with their client, including:

• your motivation for buying or selling the property;

• the minimum or maximum price you are willing to offer or accept; and,

• your preferred terms or conditions for an agreement of purchase and sale.

The real estate agent might provide you with assistance. It is important to understand any assistance

that might be provided by the agent:

• must be a service to their client, or incidental to a service to their client;

• must promote and protect the best interests of their client; and,

• must not include opinions or advice to you related to the transaction.

Just give me a call

647 218 2414 

Buyers Target Private Sellers because they save more!

When does it pay to go after a Private Sale or Mere Listing?

When they are negotiating for themselves..

“The average reduction from the private seller’s asking price and the price paid was 8.7% which is a significantly larger discount than the market average of just under 5% over the same period.
“Several people said that they actually targeted private sales because they knew they would buy more cheaply if they didn’t have to negotiate through a professional agent and in a couple of instances boasted that they had saved more $60,000 by buying privately.

What's the logic of that? 

“In all but two cases the buyers considered that they purchased their property more cheaply because there was no agent involved”, he said.

“When asked if they took into account the fact that the seller wasn’t paying an agent’s fee, every buyer surveyed said yes and that they expected to and in most cases did negotiate this amount and more off the price of the property.

“Several of these buyers even stated that the seller willingly offered up that they would look at a lower price because they weren’t paying an agent.

http://www.cprea.com.au/real-estate-accreditation-blog/?bp=23&nid=7717

So if you are selling and you want more; use a full time REALTOR 

David Pylyp   647 218 2414

We have time to sell Etobicoke Homes for Sale

Called a FSBO today because clients I HAVE want to see the house. After a few preliminary questions...

FSBO: Do your clients need to sell their house?

Me: No, they are first time buyers

FSBO: Just so that you know our story, we've bought a house and we're not moving into it until June, so we don't have to sell. We've told all the agents this.

Me: (smh) You will have to sell in a few months

 ** listing to the bottom of the pile**

Me: Out of curiosity, Why are you selling on your own?
FSBO: To save money, we're not in a rush to sell

I felt like telling her they've told every agent who's called they're going to be desperate in a few months and more than likely are going to lose way more as a result.

[Still shaking me head.] 

The reality is if my Buyers under contract can create an advantage and SAVINGS, when there are no customers coming to buy your home...   then we will be back in a few months and see if you are still here.

Time to call a real estate agent; ask for references and interview in person.

David Pylyp 647 218 2414

Purchase a Private Seller

I recently received an email from a person who was going to buy through me a few years ago but then changed their mind. They sent me an email asking for some help. One of their kids bought a house in Oakville.

The deal is now firm, and wanted me to find out more about it. 

I sent her an email saying that his agent should have provided him with all the information. 

She let me know that it was a private sale and even the lawyer was wondering why the sellers wanted to sell so quickly. 

Guess they should have used an agent.

With no representation on either side, there is no one to hold accountable.

When you buy you can have;
Your deposit is insured when held by a real estate company.
A Home Verified Report of PAST insurance claims.
Purchase Ownership History
Do a Home Inspection
Home Systems Insurance is available for Appliances and Wiring / Plumbing
Ask about things Buried in the ground ( tanks or septic)
Ask About Wiring Knob and Tube
Are there any items contain in or on the property that will impact getting insurance or financing?
Has Anyone died in the home?
Was it ever used for Notorious Means?

Don't you ask?
I do.... everytime. At the offer in person.
Call me

Do it Yourself - Toronto

Doing Everything yourself Could save you money, usually it is time consuming and nets a poorer result. http://SellinginToronto.ca

Family Law Court in Ontario is CLOGGED with unrepresented litigants because of the expense of using lawyers.  with that comes a lack of proper process, forms, disclosure, obligations and the ever present; I didn't KNOW I was supposed to do that! 

Can you imagine how our legal systems would be clogged with Self negotiated real estate transactions, private buyers and private sellers neglecting time lines and waiver needs.  Did you cancel that contractor?   Did you pay cash for that roof repair?

At some point DIY and Home Handyman Have some strings attached.  






I'm just reading an article here from Legal Matters, the fact that everyone wants to do everything themselves. I was very surprised, Very Surprised to learn, that in Family Law in Ontario, 75 to 80% of all the work done in court is self represented.

Unrepresented Applicants and Respondants

It makes me understand why long term career lawyers like Stan Gelman [in Mississauga] have opened up "do it yourself" assistance programs.

So we're trying to save money everywhere; by doing everything ourselves.

In the family law case everything is delayed, claimants argue they didn't know, Financial Statements are not done properly, things are handled in a ... [SLOPPY] fashion.  They are not paying attention to the timelines; they are always in trouble with the court. The Judge has to adjudicate the merits of each case that is delayed before they get to mediation or a decision. Transcripts are need and typed. [DARP]

Now WHAT IF  we were to apply those same standards to each and every real estate transaction in Toronto. Let's have every house Sold " For Sale By Owner" and Every Buyer is a By Owner Purchaser, and they are all out on their own arranging their financing, inspections and insurance.

..and Mortgage.

Can you see what's happening here?

There are claims right now that lowest interest rate available is 1.99%. Thats a variable rate that's very exciting..  but there are conditions involved.  There are indeed some strings attached to the  1.99%   Variable Rate program at IG 

There is always "Some Strings Attached".  If you would like to have a candid conversation;

Give me a call.  I'm available at 647 218 2414 
Or of course, You could do all of it yourself.

David Pylyp Sales Representative
RE/MAX Realty Specialists Inc., Brokerage






   

What is your commission?

When PROSPECTS call me and ask... What is your commission rate? I would answer with a response about sharing, Gross Commissions and "That commissions are always negotiable."

The response was predictable; We only want the price on the phone, They Hang up and Move On.  Now, when they call I give them 2.5% (We can negotiable; if you have another transaction tied to this.[purchase another home]  Never more than 2.5%

There are TWO parties to the offer.

The Selling Agent who brings the client.   

While 85 to 90% of Buyers may start the Home Buying process online, by the time they get to your door they have been educated, pre qualified, obtained a financial commitment from a lender and are under a Buyers Agency Agreement with someone [or possible committed to working with an agent but are not yet under contract with a Broker]

Will you be paying a Selling Broker's commission?  Will you offer more or less that what is average in your marketplace. **It is clearly in conflict with our regulatory body (RECO) for me to interfere with another Broker's Contract. In Plain English, I cannot ask my fellow realtor to discount their commission. I do not know what they are charging their client and may already be offering inducements or incentives. Co operating Broker's Commissions are clearly posted on the Listing forms and repeated on the printed data sheets. These averages are information that is available to you when I present you with the Comparable Market Evaluation (CMA) as I have usually selected 3 or 4 properties that have recently sold and I will be reliant upon these details when defending your asking price.  

I will defend your position to the best of my negotiating ability. I will not disclose your circumstances for selling, URGENCY, motivation or lowest Price. I will keep your secrets. When Agent's call, and they will, they directly ask What will you take?  The best response is that "I know they will take the ASKING PRICE."

So let's examine what I do in a transaction,  I price your home, present you with Print and Video Material, deal with survey, amendments, inspections, contracts and distribute to all involved in this transaction. [Buyers] need to know What might impact their future value by what is being built around them, [your home]  anything that remains in or on the property IE. OIL TANK buried in the yard, or anything that could impact obtaining financing or insurance like Knob and Tube Wiring. I would urge Home Buyers to Obtain a Home Verified Report to confirm if any insurance claims have been made in the last 5 years. 

In all I would suggest to you that easily 30 - 50 hours could be accumulated on your file; prior to the time we attend with at your real estate closing.

Let's examine the LISTING AGENT's of that Commission.

• Every Agent must pay their Broker. It's a cost of being in business. Licensing, Insurance, in addition to Memberships. 
• There are the Marketings costs, Brochures, Video, Photography, Time and efforts for websites, online and Social Media Advertising. 
• The balance is Income for Me. Less the tangible expenses of gasoline Insurance, vehicle lease, cell phones and equipment, cameras and computers and my Friends that Calculate and collect Income Taxes. 

IF I am Listing a house for a few hundred dollars;  Which category can reduced?

THEN How do you expect to achieve the highest value when selling your home IF you do not advertise or promote your property to attract the largest POOL of available shoppers?

Meeting an agent who is prepared to handle your sale from Listing, Pricing to Negotiation (and we hope Multiple offers) and sheppard your transaction, DRAMA free, to the closing table; Anticipate what the hurdles might be and bring in the health care, legal or financial talent to help you as required has value over the inexperienced agent or mere listing that merely offers the illusion of a lower price. Selling yourself is an option but unless it's a smokin' Hot Deal, Buyers are not going to find you.

What is my commission rate?  Usually less than 2.5% Let's Negotiate...

I can just sell it myself

I'd rather sell it myself...   

I often get the question. When I list my house why should I use a realtor? Why not just sell it myself? What would your answer be?


We could cut our kids hair...  My Dad used a bowl till I was 12,

I could paint my house, but I don't.... 
I could read a book and become a gourmet chef....  If I practised...
An amateur photographer can take pictures just as good as the Wedding Photographer...
I could represent myself in Traffic Court but I take a Court Agent.... Why? 

Because they are skilled and understand the process that has specific process and save me from dire consequences as a consumer. 

It not the actual doing ... It's the being prepared for what could happen and knowing what to do when it's necessary.

Drama belongs in the theatre  not in a real estate transaction. We get paid to be knowledgeable, remain calm and coach our clients in an orderly process avoiding Legal missteps and protect your financial net worth.

What do you say?

Lets Talk   647 218 2414

Changing Your Tire = For Sale By Owner

Following the weekend festivities at the Roncesvalles Village Festival we headed home in a soft rain. It was cool and drizzling like an October evening feels. 

The SUV had been parked all day,  It was dark so I didn't notice the flat tire. The low pressure warning had been on for a few days. I ignored it. The vehicle felt funny, awkward, not rolling the same.  I stepped out and walked around. Circle Check...  FLAT.

Found a PetroCanada near the condo, PAID a dollar for the free air and tried to pump it up. The sound was as loud going in as going out.  There was real serious leak. I drove it back to the Condo to have a look in a dry well lit garage.  At least, it would be warm and dry, where I could simply change the tire.

The wheel well contains a tire that needs to be dropped.  OK, Snapped the plastic handle off. (damage item 5) Unscrewed the retaining bolt and the whole well dropped. Thank goodness the tire had a safety belt attached or it could have slipped out.  [I never would have comprehended the storage safety strap in the dark, in the rain.]

Removing the jack from the German Engineered Highly efficient storage area took 20 minutes. It will never go back. Found the secret LOCKING NUT in its resting place. Loosened the wheel lugs prior to jacking up the car, correct procedure, removed scissor jack. Found the correct contact point for scissor jack while sliding under the vehicle. (refer to rain and street comment in para 1)

Removed all the lug nuts and but could not remove the wheel from the car. [Frozen} Playing with it. Kicking it and finally using the 5 pound persuader (sign install) hammer, I successfully shifted the car off the jack, rendering it twisted and inoperative. (damage)

Abandoned the task, REINSTALLED lug nuts on the flat tire, drove to service shop in the morning on a flat, guaranteeing that it would require replacement.

Tire  $ 225
Jack maybe used at $75
unreplaced damage $ 400
Repair $50

Life Lesson?  Priceless.

If I could not finish this job inside a condominium garage; in a well lit and dry area, Parked in a secure safe location, with access to flashlight to read the manual study the components, assemble the pieces, remove the lugnuts with a tire wrench, I would never accomplish this task in the dark in the rain.

Selling a condo is easy,  they are all the same...   We understand the process clearly.
Sound familiar?  You know all the details about your building, Status Certificates, Maintenance Fees and Management. You know the property best.

Reading, Understanding and comprehension is good.  Experience, doing is better. Having right tools and knowledge..   Priceless.

I paid to repair and replace the tire.  Mistakes and choices with real estate are much more expensive to fix. Usually it involves lawyers.   If you think mechanics are expensive... Selling by Owner is more exciting! 

If you are relocating to  or within Toronto, ON Canada, I would like to meet with you.
Call me.

Whats the Big Deal - I can Sell it Myself

With Internet, computer technology and apparently free advertising there should be a plethora of venues and opportunities to sell IT yourself.

You are saving VAST sums in commissions so you spent the savings on lavish colour brochures, a stunningly presented video about your residence, neighbourhood and amenities. Then added the RAW picture files as a pictorial online.

No...    Why Not?

Lets Examine a potential Transaction;

Remarks for Brokerages:  For All Appointments and Inquiries Contact:  The Home Owner directly at 647 218 2414 Email all offers to david@davidpylyp.com  Agents Welcome Commission Negotiable Via Seller-Use Form 202 -The Seller Has Reserved The Right To Sell The Property Themselves In The MLS ® Listing. 

CB Comm:$1 See Remarks  

Showing your house, is easy. I called and booked an appointment to show.  You agreed that IF we have an offer you are aware of Form 202 from the Toronto Real Estate Board. Sounds like you are Ready and Prepared.  I have a prospect in tow and hope you will not oversell your built in shelving and your son's woodworking project in the basement workshop. 

The Buyers likes your house; your asking price, IMHO is slightly optimistic but they are prepared to Negotiate. After showing a number of comparable properties we have a FIRST round offer. I need to present a Form 202 Prior to entering into a negotiation with you about the value of your home.

Now you feel my value is $1. The Buyer cannot add any expenses, surveys, inspection or taxes of the purchase, nor my commission to the Mortgage, as they generally are using their entire resources for their down payment. 

I need to continue with this Buyer through the counter offer (you didn't accept their initial offer) and explained you feel that your house is worth more [but the comparables do not support that conclusion.]

I do not want to argue LOGISTICS or Terminology or Timelines with you. No, you will not hold the deposit funds.  It is not my responsibility to explain your options to you. I represent my Buyer.
My Buyer clients often need support -- even hand holding -- during the buying and selling process. They need financial planning and approvals. They cannot call a website at night because they are having an anxiety about payments and budgets; Buyers remorse or second thoughts and detailed questions about what they already saw that's sold. It would be nice if they did, but they call me instead.

Websites are perfect for viewing homes for sale, but they however do not provide much in the way of service and are not the new, competing force in the marketplace. Interactive Web 3.0 sites have been around awhile and is here to stay. They have plenty of competition as they compete for consumer eyeballs.

The ability to find homes on the Internet is no longer impressive. Real estate experience and the ability to help buyers sort and filter data, to find and buy the right home for the best price is a valuable service that the Internet still cannot provide.

Updated Listing Kits are being assembled now. If you are considering Selling and you would like to examine one;  call and I will deliver this to you. Buyers receive a Satisfaction Guarantee.

416 233 9000 or 647 218 2414

The Private Sale - Etobicoke Real Estate

Pre- recession in the 90's the Big For Sale by Owner [FSBO] concept was Peartree.  Now we have Comfree and Property Guys. They give you a sign, some frames for your open house placards, some general instructions and you are on your own!  They post your ad on their website. Some add your listing to the MLS System.

The traffic and inquiries seem perfect?  But where are the offers?  Who helps the Buyers to move forward and create some urgency and focus?

Now what?   This video really gives a few life examples.


Yes, everyone would like everything to cost less. Etobicoke Real Estate is about knowing the community, giving context to all the available data, having insights about values and helping you decide the very best course of action for your family.

I am very prepared to negotiate for my commission, but remember, If I cannot negotiate my fee, how can I handle your equity?  The David Pylyp Group has 3 pricing structures to help you decide what level of service you need. http://youtu.be/9CK_T-drfrE You tell me.

Call me today!