Perception…this was the word of the year announced at our recent Royal LePage Benchmark kick-off in January…..and it has really stayed with me…
Perception is reality. We have ALL heard this phrase…..but is it true in all cases??????
IF buyers believe that 2025 will NOT be a good time to buy…this “can” definitely impact their decision making.
*Even if I can overcome every question/obstacle/concern they have – interest rates, political climate, risk/cost of waiting….
IF sellers decide it is NOT the right time to list – based on the same criteria as above – they will wait on the sidelines.
*Waiting till everyone else lists is a common strategy!
All my clients know another famous line I have is – “real estate is about inventory!”
There are ALWAYS buyers…..in a recession…during COVID….in the midst of political uncertainty….
There is ALWAYS someone moving out of Calgary – or moving in. Always someone moving out of their parents house – or downsizing to an apartment. People merge their lives and buy new…and then there are people who split up and need TWO houses. Buyers want to MOVE up – and sometimes have to move DOWN. Schools affect buyers choices….trust me I moved from a home I LOVED (with amazing neighbours) based on what the school situation would look like for my kids. Jobs, dogs, aging parents, winning the lottery, the brutal rental market…the list goes on! PLUS add on investors – who completely understand to BUY when everyone else is not! And don’t care about any emotional components involved!
If buyers have 5 homes to choose from – they will make decisions quicker. If they have a choice of 50 to look at with loads of time to decide – all of a sudden be prepared to get seller feedback that the buyers didn’t like the light switch covers….or that the lighting was not to their liking….or the drapes were too short (all of which I have heard about homes – and all of which can be changed!)
An interesting thing that I have noted – after showing many different properties of all sizes, categories, and price ranges – is that once a Buyer forms a perception of a property, that perception very quickly becomes their reality. Oftentimes, that reality is nearly impossible to shake, once formed. It becomes etched in a Buyers mind, forever impacting their ability to move forward and connect with that home in any meaningful way.
Clearly having a LISTING realtor with STAGING expertise can help affect future BUYERS perceptions! I LOVE when I finish staging a home and the sellers just look at me and say:
“I never thought it could look like this”
or
“I wish I had done this when I was living here!”
A well staged home – helps Buyers to see a comfortable, attractive and well cared for living space. Home staging accentuates the positive – while detracting from the negative! Bonus – when Buyers see a home that is beautifully staged, they often perceive there to be higher VALUE in that property. The higher perceived value most often translates into a higher selling price!
On the flip side – my experience as a stager – helps my buyers immensely as well. I can often see past the home as it is represented in photos – and advise my clients how to “see” it differently too through my eyes! Our house tours on the buying side are intense! I see potential everywhere! But I am also the first to say – “we can do better!”
FUN FACT: Sellers always think that they can get the highest price for their home, while buyers always believe that they can pay the lowest price!
Back to PERCEPTION – In January 2025 the property assessments came out…within minutes I was bombarded by texts and calls from my clients (and my neighbours!) asking if they can REALLY sell their home, for what the property assessment states it is worth!
Sadly in most of the cases – the answer was NO…including MY OWN HOME! 😉
However, there WILL BE a future seller who BELIEVES it to be true…and there WILL BE a future buyer who also BELIEVES that this document accurately represents current worth!
Property assessment values are estimates of a property’s market value, but they are not always the same as what you could sell for! This is because property assessments are based on many sales of similar properties in the area, rather than a single sale. When was the CITY of Calgary last INSIDE your home?! Two houses can be exactly the same, side by side, on the same street. Same South backyard, same garage, same sq footage – BUT – one is COMPLETELY renovated/updated top to bottom and one is original back to 1950! HOW can the city know if permits were not pulled for the renovations!?
IF you have questions about ANYTHING – I will tell you the truth – based on facts and my experience – not my opinion!
If you want to challenge your Property Assessment – I can help! Homeowners must substantiate their claims with evidence such as property size, photos and the classification of the property. If I helped you buy/sell – I have this!
*Even if I didn’t assist in your transaction – I will do my best to assist
It’s essential to demonstrate that the home has been assessed too high compared to similar properties. Gathering information on comparable homes that have sold recently in the area is something I have access to!
FYI – Appeals must be filed with the Assessment Review Board by March 21.
Bailey and I are just a phone call or a text or an email away to support you AND your friends, parents, kids………you are not alone in this!