You Get What You Pay For

As my first month at Bowes and Cocks Brokerage is coming to an end I must say that I have thoroughly enjoyed each and everyday. Every morning I would wake up knowing that I would learn something new and interesting. Everyone at the office was welcoming, willing to help out and seem like genuine people, perhaps that is why the Peterborough office is number one within the company and had a sales volume growth of 27% last year, a large percentage that no other company in the Peterborough area can claim as you can see in the sales volume graph of 2008 located above. Each week when I attend the meetings and get to know my fellow sales representatives and learn from their experiences and knowledge, I am thankful that I have found a great brokerage to work for. One topic of discussion lately has been that other sales representatives in the area have dropped their commission rate to 3.75%.
A commission rate drop to 3.75% means that the seller would be saving $1200 per $100,000 of the sale price which sounds great, but do not be fooled by this simple equation there is more to it. A fellow agent in the office made a good point he said, “If the listing agent is so willing to give away his/her money, what makes you think he/she isn’t so willing to give away your money”. Although you may believe you’re saving a few thousand on commission, the listing agent may lack negotiation skills therefore loose you much more money in the end with a low sale price than the few thousand on commission you saved, this is something that has happened in the Peterborough area recently.

Another great point brought up by a very successful woman in the office is that it doesn’t make sense that the listing agent who is working for you, knows the most about your home, your property, advertises your home and is hosting open houses would make less on the sale of your home, than if he/she were to assist a buyer in buying a home down the street where he/she would make the average 5% split giving him/her 2.5% commission whereas with the sale of your home only earning 1.875% after splitting 3.75%. It just doesn’t make sense.

Ideally one should pay a sales representative from a reputable brokerage, someone who has a great track record and can help you with one stop shopping when searching for professionals such as home inspectors, lawyers, and mortgage specialists. Isn’t the age old saying you get what you pay for? What makes you think this is any different? If the amount of money a sales representative is going to earn on your home is less than average, wouldn’t it seem logical that their advertising costs would be less than average and your home may end up being on the market for a longer period of time without much exposure inevitably becoming stale and taking a longer period of time to sell.

The point I’m trying to drive home is do your homework, research the person and the company you are hiring to assist you in buying or selling you a home. Look in your neighbourhood, see for yourself who’s signs are up and who’s have sold, ask your friends and family who they would recommend, do not rely simply on a commission rate, because you don’t want this transaction to be the one that you are saying, I got what I paid for.
-Ashley Ross, sales representative

We'll Give You a FREE Home Inspection

What do we do differently? Well let me tell you! We strongly believe that a consumer should know what they are buying. Imagine you enter a store looking to buy a pricy item and when you ask the sales clerk if this particular product is a quality item he/she simply responds, I’m not sure, I don’t know much about it. Do you think you’re going to buy it? Probably not. We so strongly believe that consumers should not encounter any surprises that when you list your house with us we will reimburse you the full amount of a home inspection, a value of $250-$350 once we have sold your house. This allows prospective buyers to fully understand what they are agreeing to, and isn’t this the way it should be? This also will prevent the potential of writing up an offer, getting excited about the potential sale, and then the disappointment when home inspection doesn’t check out to the buyer’s satisfaction. Although not every home is perfect, as long as the buyer understands the true condition of the house then that is all that matters. We believe that this just helps move the process along more efficiently and with less disappointment.

As for clients who do not have a house to sell, but want us to assist them in finding the perfect home for them, you also get to reap the rewards of a free home inspection. Once you the buyer have narrowed your choice down to one house, we will reimburse you for a home inspection for that property once you have purchased a house with us.

For those of you who may not know exactly what the home inspection entails, let us enlighten you. The home inspection report covers the following areas roofing, electrical, structure, insulation and ventilation, exterior, heating and cooling, plumbing, interior, and a summary of any potential major defects. We pay Paul Galvin to do our home inspections. He is extremely experienced, very thorough and we trust his opinion.

Buyers greatly appreciated not having to pay for a home inspection, but they certainly have the right to do so if they have any concerns. Sellers appreciate getting to see a complete professional report on their house. This allows them the opportunity to make repairs or adjust their asking price.
The home inspection report is a very effective tool in sales and it truly is an effort to disclose the true condition of the seller’s house and minimize any liability.

This is tool we have been using for several years to make buying and selling easier for our clients, a service few others in the area provide.
-Ashley and John Ross, sales representatives

Who's Benefitting the Most from Today's Market?

As many of us know today’s economy is facing troubled times, but where is the silver lining? In real estate the silver lining seems to be gravitating towards first time buyers. If you’re looking to buy a starting home, NOW is the time to do it! There are many homes listed for very affordable prices. Buyers only need 5% for a down payment and mortgage rates from banks are low...really low. We encourage you to talk to a mortgage specialist to find out your ability based on your particular circumstance. With first time buyers not having to sell a home before buying, it puts them in an opportune position. Kick your January blue’s and get excited; let’s buy your first home!

But for the rest of you don’t fret there is also a glimpse of that silver lining for you too as long as you are buying and selling in the same market. With the media focusing attention on the negatives of the current market situation one thing that is not heard quite so frequently is this simple fact that, yes the market is down, therefore if you’re selling your home you’re not going to get as much as you would have a year ago, but if you’re buying a house, guess what, you’re also buying for less. As a result, selling your home for less than you may have a year ago isn’t going to pose the financial crisis often depicted in today’s media.

To everyone else taking the time to read about our current market situation, here are my thoughts...I honestly believe that the more gloom we hear on the television and radio about job losses and a possible depression, does just that, depresses us. I don’t think I’d be able to convince you to turn off CNN, stop subscribing to newspapers, and plug your ears every time you walk by someone discussing today’s troubled times, but what I will say to you is try to stay positive. The real estate market is not as dead as everyone perceives, yes it is slow, but this is always the slow time of year in real estate. Before negative media casts the worst predictions for 2009, remember what Winston Churchill said, “Attitude is a little thing that makes a big difference” take his advice and make 2009 everything you’d hoped for.
-Ashley Ross, sales representative

Buying in Peterborough and Surrounding Area

As a team of professional Realtors and with personal experience in both local and long distance buying we can assist you with your search and purchase. We will e-mail or mail you listings that meet your criteria and gladly research any that interest you. Appointments will be set up at your convenience and opportune time. Upon viewing each house that you have selected we will provide a report that gives you a sales history and selection of comparables to help you put an offer together with us. Our advice and negotiating strategies are available to buyers as part of the service offered to get you the house of your dreams at the price that is right with the best terms possible.
-Jane Ross, sales representative

It's a New Year and a new deal!

If you’re planning on buying or selling a home this year, let us help. Finding a realtor can be unsettling, especially if you have never worked with one before. So let us start helping you by allowing you to read a few of the testimonials past clients have written about us.

1) Quite possibly no need for improvement, nothing but a great experience. It was my pleasure dealing with Bowes and Cocks and thanks so much John and Jane couldn’t have done it without you.
Matthieu Girard

2) John and Jane are a pleasure to do business with.
Carl and Connie Plumton

3) John and Jane are excellent agents. They are very hard working and worked extra hard to get my dream home. Thanks John and Jane!
Mabel Graham

4) Our representatives worked especially hard and were available at any time.
Barbara Wilson

5) We were pleased and surprised how quickly our cottage was sold.
Marguerite Popko

6) John and Jane were just excellent in all ways!
Davina and Art Lumsden


We hope these testimonials reflect our flexibility, hard work, integrity and sincere interest when buying or selling your home.
-Jane Ross, sales representative