Broker Laura Ellis has the skill, expertise and background to provide informed guidance to her clients.
She is a big proponent of having someone on your side when you do a real estate deal and therefore advises against trying the do-it-yourself method.
“I am personally aware of a recent situation where the buyers were trying to manage a sale and purchase on their own. They’d had their existing home listed since October, and finally had an acceptable offer on it. They wanted to represent themselves on the deal to buy my client’ s home…but, despite their confidence from having bought and sold multiple homes previously, they didn’t have the knowledge to put the appropriate clauses in the contract,” said Ellis.
“When they told me they were making an offer and what would be in it, I suggested that they get legal advice before submitting. There could have been major issues. They could have – essentially – ended up owning two properties had their own sale not firmed up. It was not in my client’s (Seller) best interest to get involved in a situation like that. Having the expert advice of your own agent can be a huge help, as by the time it gets to a lawyer (after an offer is accepted) it may be too late. Fortunately, they did contact their lawyer, the offer contained the appropriate clauses and everything has proceeded smoothly.”
She also discusses the challenge with going directly to a listing agent vs working with one who is specifically working with the buyers.
“The listing agent has a primary focus to get that property sold. Their first client and priority is the owner of that property, and they’re contractually bound to facilitate a sale. It’s often very difficult to serve two “masters” equally.” she said.
“You need someone on your side to look after your best interests. There is no potential conflict or divided loyalties that way. Also, having your own agent looking for listings on your behalf, has huge advantages! They can filter properties better by applying their local knowledge and making inquiries on your behalf before you ever think about getting in the car to view them.”
Additionally she says that having someone from a local Brokerage like Buy The Shores is crucial.
“If you bring your out-of-area realtor to cottage country, they may not be familiar with things like wells and septic systems and may not know what documentation to request to protect their buyers. You may have a buyer falling in love and purchasing a lovely property, with assumptions and expectations that aren’t true,” she said.
“The buyer and out-of-area agent may think they have incredible access to the beach down the road, only to find out (after closing) it’s actually a private beach and they need to use one further away. A local realtor is more likely to be familiar with that kind of situation and will know to make inquiries prior to an offer. So much more goes into this business than most people think. We understand that people want to be loyal to their own agents – we are very happy to work with those agents and to pay them a referral fee. It doesn’t have to be either/or.”
Laura loves being a part of her community, and when she isn’t doing real estate, she is on the Board of the Penetanguishene Garden Club. She also teaches chair yoga at the Askennonia Seniors Centre and sponsors the Wasaga Beach Bike Night supporting food banks.
“It’s important to always give back to and be part of your community. They support me, and I support them right back,” she said.
At the end of the day, it’s being able to facilitate a sale/purchase and be there for folks through the process that matters to Ellis.
“I just really do love helping people. When you make a deal, the money is good, but this isn’t an easy business. We do a lot of work that we often don’t get paid for. You’re almost always on-call for your clients and work long and often inconvenient hours. It can be challenging, but it’s so rewarding,” she said.
“There’s nothing better than completing a deal and visiting a buyer client a few years later to see them still madly in love with their home. Or to see sellers take a big step forward in their life’s journey, and to have them stay in touch as friends. It gives me so much satisfaction and reminds me why I do what I do.”
Connect with your local real estate team, Buy the Shores of Georgian Bay.
