Working with a REALTOR®
A Realtor helps you get the best price for your home. They’ll also help you through every stage, from contracts and negotiations, to market analysis, photography services and more.
Realtors are also expert negotiators who are well-experienced in the back-and-forth of real estate transactions. They know the market and will help you get the best price for your home whether you're buying or selling an investment.
Understanding the market
Timing influences a home’s selling price. Market conditions also vary by neighbourhood and housing type.
Our monthly market reports provide a snapshot of current housing market conditions and put recent trends into context. For the most detailed knowledge, you’ll want to consult with a Realtor.
We use a variety of statistics to measure market conditions:
- Sales represent the number of homes transacted through the Multiple Listing Service® (MLS®) in one month.
- Active Listings represent the total number of homes currently listed for sale on the MLS®.
- New Listings represent the total number of listings added to the MLS® in a month.
- Sales-to-active listings ratio measures supply and demand by looking at the total supply of homes for sale compared to sales during the month.
- Sellers’, buyers’ and balanced markets are terms used to show whether the market is putting upward, downward, or no pressure on home prices. Sellers’ markets typically occur when the sales-to-active listings ratio dips below the 12 per cent mark, while buyers’ markets tend to occur when it surpasses 20 per cent for sustained periods.
Taxes and costs of home ownership
Buying and owning investment property has tax implications. Taxes that may be exempt on your primary residence will likely apply to your investment property. Other taxes like Vancouver’s Empty Home Tax will impact you. Consult a tax specialist to fully understand your obligations.
There are other costs on top of taxes to investment home ownership. Keep those costs under control by taking advantage of government cost-savings programs.