- Current Real Estate Market and trends
One of the benefit of working with a knowledgeable local Vancouver Realtor to sell your house, is to get updates and educated constantly on the market and trends. Real estate market shifts and varies weekly by the number of property listed and sold. This is vital to be informed about all these changes and variant.
- Being informed on all factors affecting Vancouver Real Estate
There are major third party factors that can impact the economy and specially change the level of real estate market activity. These factors are:
A) Government Influence
At any time, local and provincial government looking to gain political power and vote, they interfere with the most powerful commodity and promising an affordability in real estate. By implementing new taxes and changing the investment rules on foreign purchases, they can fully impact and change the trends in Vancouver real estate as it has recently been done.
B) Economic power
Local and global economy has direct impact on investment and consumer confidence. It is crucial to stay on top of the economy, trades and major facts that have direct relationship with Vancouver real estate market.
C) Political Power
Political power is directly connected with local and federal government. The impact of politics in real estate can extend above taxing. The politic power can impact the regulation of real estate and changes its rules, governing, and regulations as we did in June 15 2018. It is important for the clients to be fully educated on all upcoming and existing changes that can impact the practice on real estate and its influence on the Vancouver home seller.
D) Financial institution impact
Banks and private lenders work directly with real estate and any changes in federal or provincial banking, is a direct impact on the market in Vancouver. Changing the interest rate and adding rules and regulations to existing mortgages, are important to be informed. A home seller must know their homes direct niche market and what influence their purchase power, so must stay on top of it information.
- Comparable Market Analysis information.
It is necessary that a homeowner constantly is informed of any recently listed and sold Vancouver homes on MLS® Listing. The comparable market analysis (CMA) is not only for a first visit to determine the price. It should be on a constant basis of informing of all related properties in close proximity that can have an impact on the home seller’s subject property. A homeowner can benefit from this informative updates on what are the activities and trends on MLS® listings nearby.
In the next chapter, we will continue the benefit of hiring a Vancouver Realtor and why it is important to work with a Realtor in Vancouver to Sell your Condo, House and or apartment for sale.