Why Work with Full Service Realtor?


  • Realtors carry errors and omissions insurance
  • Many agents unfortunately avoid FSBO’s for various reasons. This is a fact which means you are not exposing yourself to everyone on the market.  Selling your home is a numbers game.  The more people you are exposed to, the faster the sale should occur.  If a home sells faster, statistically speaking, it should sell for more money.
  • The psychology of the buyer is such that when they make an offer on a property being sold by an owner, they will often make offer lower than market as they believe that you are not paying commission. I have had much experience with this.
  • The best time of year to sell is in the spring, as there are more buyers looking at this time. There is also more inventory in the spring, so very important to be marketed well.  Below is link to Newsletter showing pricing in Ottawa over past 5 years.  Prices typically drop at the end of June.
  • Agents should be working with pre-qualified buyers. This should reduce chances of deal falling through due to financing.
  • It is true that some people are successful selling on their own, and if it doesn’t work out they often resort to full service. If you need any references of people who were FSBO’s and then decided to list with myself with success I would be happy to provide.

April Newsletter Showing Pricing Trends in Ottawa

February Market Update: Is it a Buyers or Sellers Market – Is it a good time to Sell?

What is the definition of a Buyers market? Below is an Ottawa general analysis.  Please note results will vary from one part of the city to the next and also depending on the type of home you have.  For instance you might be in Seller’s market if you have a property that is in higher demand (i.e. bungalow), or if you live in a desirable area.   Contact me for your area specific report.  Two methods are used to determine whether it is a buyer’s or seller’s market:

Method 1

New listings in Month/Sales in that month = X

If X is less than 35% , buyer’s market

If X is greater than 55%, seller’s market

The ratio for Ottawa for February was  X = 40%, indicating the market is balanced, and leaning towards buyer’s market.  See two bar charts below (February is last bar in each chart)

Sales activityNew Listings

Method 2:

Buyer’s Market = 6 or more months of inventory

Seller’s Market = Less than 3 months of inventory

Neutral Market = 3-6 months of inventory

Ottawa’s Inventory at the end of February was close to 7 months, indicating a buyer’s market.

Months of Inventory

Why is one method indicating balanced whereas the other indicates buyer’s.  It is because we entered the month with so much residual inventory.

It is time to sell?

If you are thinking of selling, spring is absolutely the time.  See graph below which shows that sales prices are always highest in the first part of the year.

Performance over Time (line chart)


Would you like a detailed analysis of your area to see if it is a Buyer or Seller’s market.  Would you like to know how long your your neighbours have been listed for and what they have sold for.  If so, please don’t hesitate to contact me.

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Below is more information from the Ottawa Real Estate Board

Ottawa, March 3, 2016 – Members of the Ottawa Real Estate Board sold 911 residential properties in February through the Board’s Multiple Listing Service® system, compared with 850 in February 2015, an increase of 7.2 per cent. The five-year average for February sales is 908.

“Although the weather was very unpredictable this month, with many highs and lows and several winter storms, the Ottawa resale market only saw activity pick up,” says President of the Ottawa Real Estate Board, Shane Silva. “Residential and condo sales combined increased by 52.3 per cent since last month. However, we need to factor in the leap year, which added an extra day to the month of February, and 46 sales on that day alone.”

February’s sales included 199 in the condominium property class, and 712 in the residential property class. The condominium property class includes any property, regardless of style (i.e. detached, semi-detached, apartment, townhouse, etc.), which is registered as a condominium, as well as properties which are co-operatives, life leases and timeshares. The residential property class includes all other residential properties.

“In February, 2,312 homes were listed, up 26.6 per cent since January, and inventory on hand at the end of February rose by 10.7 per cent since January,” says Silva. “We’re starting to see more homes coming onto the market in preparation for the busy spring selling season. If you’re thinking of putting your home on the market, this is a great time to do so.”

The average sale price of a residential-class property sold in February in the Ottawa area was $384,632, an increase of 1.2 per cent over February 2015. The average sale price for a condominium-class property was $249,727, a decrease of 6.8 per cent over February 2015. The Board cautions that average sale price information can be useful in establishing trends over time but should not be used as an indicator that specific properties have increased or decreased in value. The average sale price is calculated based on the total dollar volume of all properties sold.

“The highest concentration of properties sold continues to be in the $300,000 to $400,000 price range, followed by the $200,000 to $300,000 range,” says Silva. “These price ranges continue to have the highest concentration of properties sold – residential and condo – while two-storey, bungalow, and one-level condos have the highest concentration of buyers. In addition to residential and condominium sales, OREB Members assisted clients with renting 414 properties since the beginning of the year.”

Is the Ottawa Market Overvalued?

Ottawa folks, when you hear news relating to national real estate trends and you are wondering what is going on, please remember large centers like Vancouver and Tornonto drastically skew the data. Below is a bar chart showing how much homes have appreciated in the last 12 months in various centres in the country. As you can see Ottawa housing prices have only gone up by just over 1%, compared to ~11% for Toronto and ~21% for Vancouver, in the last 12 months. So Ottawites, I would not be too worried about your house losing 30% value overnight when housing prices have only gone up ~7% in the last 5 years in Ottawa (see second bar chart) compared to the 36% and 42% for Greater Vancouver and Toronto respectively.  12 month Ottawa appreciation 60 month Ottawa appreciation

Power Lyons Real Estate Solutions Latest Market Update

Please click on following picture to view Newsletter in high definition PDF format.  This issue has link to FREE HOME SEARCH APP (so easy to use)!  Download it and tell me what you think:)


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