Is The Housing Market Going to Crash Like It Did 2008-2011?

 I’m certainly not an economist but my half optimistic, half realist self would like to believe that what is happening with housing sales right now and for the next few years will not be a repeat of 2008 to 2011. These were the years when we saw buyers disappear and prices hit a decade low. Of course without my crystal ball working properly I can’t be certain but here is my logic.

We all know real estate prices are cyclical and sales data suggests the average real estate pricing cycle is 7 years. Prices rise for 3 or 4 years and then they decline for 3 or 4 years. So it makes sense that prices have started their downward turn here in 2015. We were on an up cycle when I started in real estate in 2006 through to 2007 right to the first two quarters of 2008 and then the drop continued to 2011 until we started back on the up cycle in 2012.

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Top Tier Real Estate Agents Don’t Discount Commissions So Why Do I?

I was reading an article on CBC's website from 2012 that was titled "Real Estate Secrets From a Pro". The first question to the real estate pro in the Q&A thread asked: "Why do some real estate agents cut commissions and others don't? The answer from the pro was: "Top-tier agents don't discount commissions because they don't have to. Agents are like cars: They come at different price points based on their performance. I always say, if an agent can't negotiate their own commission successfully, how can you expect them to negotiate for the biggest asset you will ever own?"

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The Best Way to Sell Your House.... Make It Easy for a Buyer's Agent (Part 2)

Our success with Lime Green Realty Inc. over the last three years is living proof of how making it easy for a buyer's agent can bring great results. In an industry that is highly competitive we focused on commission savings for the seller on the listing side of the commission structure and did not alter the buyer's agent's commission. This strategy ensured that our sellers would save money while still providing a typical commission to any agent that represented a buyer. On top of that, we have ensured that we make it as easy as possible for the buyer's agent to sell our listings. Here are just some of the things we do:

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The Best Way to Sell Your House.... Make It Easy for a Buyer's Agent (Part 1)

The real estate industry has gone through so many changes over the last 15 years. One of the most significant is the agent who really sells your home. Back in the day, before the internet was such a big part of business, you hired a listing agent to "sell" your home. Today, you hire a listing agent to market your property and act as your advisor but typically, it is actually a buyer's agent that is going to "sell" your home. In Red Deer in 2011, 88%* of the houses that were sold were NOT sold by the primary agent whose name was on the listing. So we can conclude from this that when you hire an agent to list your house, it is likely going to be a different agent that is going to bring you the buyer. In Central Alberta, buyers can "hire" a buyer's agent and it doesn't cost them anything because the seller is paying the commissions. This is one of the reasons why a buyer's agent has become so popular for buyers these days, there is no direct cost to the buyer.

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Agents with Attitude: Self-Regulation in Real Estate

"Such a pitty you conduct yourself this way such an embarrassment to our industry." I decided I would start this blog with a comment that was made by an agent in an email which just might peak your interest as I can imagine you are wondering how boring a blog on self-regulation in real estate might be. I think you might be pleasantly surprised at what this blog can teach you about the inside workings of my experiences in the real estate industry.

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The real estate listing information and related content displayed on this site is provided exclusively for consumers. personal, non-commercial use and, may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. This information and related content is deemed reliable but is not guaranteed accurate.

*Compared to a typical rate of 6% on the first $100,000 and 3% on the balance of the sale price, not applicable for agent or relocation referrals.
**$1,500 cash back on a property that sells over $250,000 and $1,000 for a property that sells under $250,000. Commission paid by seller must be 3% on the first $100,000 and 1.5% on the balance of the sale price. Not applicable for agent or relocation referrals. May be reduced or not applicable on for sale by owner properties.
***Includes transactions from the CARA MLS System.