People to take real estate advice from

by Shawn Lackie

When I got into the real estate business, over 20 years ago, it was the culmination of a number of years of curiosity. I was always interested in this world. Real estate was really hands-on. It was local; yippee, no more kooky commuting. It had people and architecture involved; two of my favourite things. It seemed to have it all, except for one thing: zero job security. Suppose you're a gambler and willing to believe in what you can achieve, then you'd think, why not go for it?

When I was still in the Canadian Football League (CFL), every spring, I would call a certain realtor and ask, “How's the market?” She would explain the ups and downs, and even went so far as to show me around her brokerage. Yet I was still unsure. After the fourth time calling, she finally blurted out, “JUST DO IT.” So I did, and I'm glad I did. Some days, I wish I had done so sooner, but you can't go back. Many of the contacts I made and people I met are forever etched in my mind and soul. What I am getting to, in a most circuitous way, is, wait for it; there are people to take advice from and people not to take advice from. This week and next, we will discuss this idea. This week is about people you should listen to.

1. Your Parents. This can also fall under the not to listen to category, sometimes, depending on the advice, so beware. Most parents have a good handle on things. They've been through the struggles and come out on the other side. In many cases they will offer advice and also a few dollars to set you on your way. They will explain the advantages of owning your home versus renting. They will advise on previously unknown topics like "equity," cost certainty, and return on investment. In short, they can be a valuable asset.

2. A GOOD Realtor. There are thousands out there, and if you did some background checking, you'd be surprised. There is all kinds of data available, about who the players are. I saw a post which said, in 2024, 74 percent of all realtors sold zero homes. Two percent sold between 11 and 20, and only 0.14 percent sold 45 or more. Wow. We have long understood, 95 percent of the business is controlled by 5 percent of the agents, in any given area, which makes sense when you look around and see certain signs everywhere. The big thing is a third-party endorsement. Many realtors spend thousands of dollars a year advertising with flyers and such, but when crunch time comes, it depends on who will refer their friend to you; that carries way more weight. So listen to the pitch and see if the person really fits your needs.

3. Your Friends. To many, this is the most important. They are your buddies and you trust them implicitly, but, like anything else, don't take advice blindly without looking into things first. Close friends can be your best resource or your worst. It just depends on how much trust you have in their judgment and knowledge of the topic.

The most important aspect of all, in all of the above, is using your own common sense. Let's be real. If something looks too good to be true, it probably is. So, like any other purchase you make, just do your homework. You'll get an A+.

As always, if you have any Real Estate questions or suggestions for future stories feel free to drop me a line, at slackie14@hotmail.com. Love to hear from you.