Tipsy Tuesday - Truth or Myth? Having Realtor Representation When Buying a New Build
Truth or Myth? Having Realtor Representation When Buying a New Build. There’s a lot of controversy out there about having a realtor represent you when buying a brand new home. I am here to state the facts.
Truth or Myth? Having Realtor Representation When Buying a New Build
There is a lot of controversy out there about having a realtor represent you when buying a brand new home. I am here to state the facts.
1. Having representation brings my price point up. MYTH - not only can I negotiate on your behalf to make sure you are getting the best deal, commissions that builders pay to agents comes from a completely separate budget and has nothing to do with the purchase price.
2. Having representation is more beneficial when the realtor has knowledge and experience in hew homes. TRUTH - as someone who has worked in new home sales, I can sort through the competition, make sure you are getting the best quality, and save you time and money in the process.
3. Having representation does not offer any additional protection. MYTH - as a consumer, having representation can protect you honourably and emotionally. Not only are you represented by a licensed professional, I can make sure you are connected with the right area manager and the right mortgage broker so that there are no grey areas during the buying process.
4. Having representation does not benefit me down the line. MYTH - as a licensed realtor, I can help sell your existing home, buy additional properties, and sell those as well down the line. With exceptional marketing skills and constant action within the market, you can be CONFIDENT that you are making the right moves when it comes to investing in Real Estate.
Please keep in mind when it comes to new builds, you get what you pay for. We work with trusted home builders that we know build above and beyond the standard building code.
Submission by Andrijana Jakovleska
andrijanajakovleska.com | instagram.com/andrijanajakovleska
780-937-6346 andrijanarealty@gmail.com
Mad Love Monday | Andrijana Jakovleska
My journey into the Home Sales business began when I was only 18 years old. Now, almost 7 years later, all of my accomplishments I owe to choosing boldness. I read a quote recently that stuck with me:
Choosing Boldness
My journey into the Home Sales business began when I was only 18 years old. Now, almost 7 years later, all of my accomplishments I owe to choosing boldness. I read a quote recently that stuck with me:
"Freedom lies in being bold".
It reminded me of my 18 year old self and me choosing to ask for what I wanted. It all started when my parents bought a new home built through a Home Builder back in 2015. Since it was our first family home since moving to Canada in 2009, it was an exciting process. Since that time my parents knew I was infatuated with interior design and had an eye for it, so they let me choose the interior selections and have a say in the layout of the home. This required me attending meetings with the area manager in Rosenthal (the area we were building the home in) and discussing all of the options. After a few visits and me observing the environment the sales lady was working in, and how she always had people come visit her, thank her for her services, and were just so glad to have met her for how she helped them get the home of their dreams or aid them to find the financing that fit their lifestyle best, I thought to myself... I want to do this.
One day, coming home from high school, I walked by her showhome (for once she did not have anyone sitting with her for a meeting) & I thought this is my chance. I walked in and she was happy to see me greeting me with a smile. We talked for a bit, and then I said: "I love what you do, our new home is now built and its so close by your showhome, I would be more than happy to come by and sit while you work to learn from you and also help in any way, I do not want any kind of compensation. Just being here is enough." She looked at me and said "I actually am in need of an assistant" My eyes lit up. I couldn't believe it. As soon as she saw my excitement she said " I will give you a 3 month probation period, this is a people business and it is not for everyone." I understood and said I am up for the challenge, despite my decision to remain in Business School and major in Marketing at MacEwan University.
Well... she must have liked me because I stayed as her full time assistant for 6 whole years while finishing my degree. Through all of the hardships, fun times & learning curves, we were a team and my loyalty to her was unmatched. I was able to continue my studies, travel, and also work a job I was passionate about (I was free) ALL because I was bold enough to ask.
To this day she is like an aunty to me, and it was hard parting with her but she wholeheartedly encouraged me to become a Realtor once finished with my schooling as she knew I would excel. Despite that, I knew that I would excel, my confidence was very strong. Looking back onto the past 9 months and my accomplishments in my new role, the one thing that has helped me more than discipline, motivation, or hard work (which are all very important) is being bold and asking for what I want. Nobody is going to come to you to hand you what you're looking for or what you deserve. If I did not ask to help the sales lady and learn from her, if I did not ask for the best possible support from my broker, if I was not always taking the risk of failing, asking to help a client, being present and accountable when things needed to be done, I would not be where I am today. My confidence only continues to grow every day and I know no matter what gets thrown my way, I will find a way to solve it and remain bold.
No one can take your boldness away from you. Choose it every day.
TIPSY TUESDAY | Commercial Real Estate – Where to start?
I want to empower you with a few tips and tricks to help you when you are starting out. Now, this may not apply to everyone. If you have leased space before, especially via Kijiji (or equivalent), it may have gone smoothly and with no complex documents to go through.
My name is Ellie Scott and I specialize in Retail Sales & Leasing at Avison Young in Edmonton. I’ve been in this industry since 2010 and I know the whole process of leasing space can be fairly intimidating…or at least a bit daunting. Its quite a process that requires handling legal documents, following timelines/processes, coordinating people, deposits…the list goes on and on. I want to empower you with a few tips and tricks to help you when you are starting out. Now, this may not apply to everyone. If you have leased space before, especially via Kijiji (or equivalent), it may have gone smoothly and with no complex documents to go through. That’s fair! Sometimes you land a bit of a unicorn. But the majority of properties will have/require some component of the below, and you’ll be happy you knew about them early on.
Alright, lets get into it. At this point maybe you have done some googling of “commercial space Edmonton” and google comes up with some random spacelist website or another 3rd party website…
Where to look: its honestly best to talk to a broker first, but I know sometimes you just want to take a look at what’s out there, and I understand that! So, if you don’t want to engage a broker just yet, the best place to start your search is on the websites of the different brokerage firms. There is no centralized website (ex: MLS for residential) for commercial real estate (CRE). There is a commercial section on realtor.ca, but only those brokers who are a Realtor® are able to put listings on that map. Typically, commercial brokers aren’t realtors (fun fact!). This means you literally have to search each company’s respective website. Those brokerage firms include (but not limited to): Avison Young, CB Richard Ellis, Colliers, Cushman & Wakefield, NAI Commercial, Omada Commercial, ReMax Commercial, Royal Park Realty, and more. If you see information on a sign, take down the company name and search it, or call the number on the sign. Its important to note the property address or at least its cross streets (or closest to). Spacelist is an ok search tool, but they are a 3rd party who takes information from the brokers websites and uploads it to theirs. A lot of times the information is outdated so its not usually the most accurate.
Talk to a Commercial Real Estate broker (aka advisor, associate, agent) who is has a ‘commercial’ licence from RECA (Real Estate Council of Alberta – our governing body) and are licenced to trade in real estate (if they aren’t licenced, their title will say ‘unlicensed’). More specifically, talk to someone who specializes in the type of CRE you are looking for. There are 5 asset classes in CRE – Retail, Office, Industrial, Investment, and Multi-family. Basically:
Retail = shopping/strip/power centre
Office = office buildings/walk ups/downtown towers
Industrial = manufacturing/warehouse/garage
Investment/Multi-family = buying/selling properties
Most importantly. A broker will look out for your best interest. Their job is to represent you. Find someone you connect and jive with. Someone you feel you can trust. You will work very closely with this person and communicate a lot, so you should feel like you are getting taken care of and have no hesitation towards reaching out with questions. Side note: tenants don’t pay the fee, the landlord does. So it typically has no upfront cost to you to use someone.
Some residential agents will also be licensed and able to transact in CRE, but that doesn’t mean they specialize in it. At the end of the day, find someone who can look out for your best interest, be informed on the market, and understand the asset class and the intricacies involved. As long as they know those things, you should be good to go!
Get your business plan prepared. With new businesses, both a landlord and a financial lender will want to see this. Financial terms are very important here as they want to know you’ve thought of all the costs involved in running a business. Staff, utilities, rent, all the goods! If it’s a franchise, it’s a bit different because there is a plan and proven track record behind the name. Chances are you’ll still need one to get financing. When you go talk to the bank, see what their requirements are for items they need included in the business plan.
Talk to your municipality. There are so many different requirements for each type of business. Different rules and bylaws that need to be followed, different parking requirements, fire code, all sorts of things. If you talk to someone here early on, it can help you plan out all these different aspects that you will need to include in your space. How many washrooms you need to build, if you need an emergency exit, the list goes on. There are also numerous resources online, so check your respective municipality website as well.
Budget, Location, & Timing. The trifecta of finding that perfect space. They also make up a sliding scale. Think about your budget and consider how the location might affect it. For example, in retail you might want to go into a funky shopping district, but those usually cost more money so do you think you will sell more/enough to make it work in a location like that? Or are you more destination? Will people happily drive to you to get your product/service? Will taking a less desirable location be more beneficial because you won’t need those other traffic drivers to get people in the door? What about timing, do you need a space yesterday? Its challenging to find something within a budget, in the perfect location, at exactly the right time. See the sliding scale? Think about these 3 items as they form the basis of finding your space.
Communication. Keep lines of communication with your broker open. The more open and communicative, not only will everyone be well informed, but they will also be able to adapt to any changes that arise. Legally, a broker has to keep certain information confidential, so there shouldn’t be a worry they are going to give out your personal information. That is, until a deal gets to a certain point, then specific personal information needs to be shared to the Landlord, but that’s later in the process and is still kept confidential between the respective parties
Overall timing. Leasing space can take anywhere from a couple months to years to complete. There are different variables, situations, permit issues, and all sorts of things that come up. I think for the majority of the YEG Boss Babes, it’s likely best to plan for at least 3-6 months from the day you start looking to getting the keys and taking possession.
Ask questions because if you don’t ask it, they can’t answer it. Plain and simple!
Alright YEG Boss Babes, those are some simple and yet very important tips to think of when leasing space. If you want more information, I’ve got all sorts of information I can provide to you or I can put you in touch with the appropriate person to help you out.
Thank you so much for reading – I look forward to connecting!
Here’s the thing — delegation isn’t about “less work.” It’s about better work. It’s about creating space for the parts of your business (and life) that actually matter.