We have a new name!

We have a new name!

Formally known as the Kitchener‐Waterloo Real Estate Board we are now the Kitchener‐Waterloo Association of REALTORS®

Why have we changed our name after nearly 75 years of existence?

Because we don’t provide real estate services, our members do! Our new name reflects this reality and clears up any confusion about who we are and what we do. We have always been an association that provides services to our REALTOR® members, to assist them in their business, which is assisting their clients. But the public hasn’t always understood that, an easy mistake given the confusing “real estate board” moniker.

The name change was also in‐part a response to the increase we’ve experienced in real estate buyers and sellers calling the ‘real estate board’ for real estate advice.

Why are we experiencing an increase in these types of calls?

More often than not, when we receive inquiries from consumers they are seeking advice on negotiation, pricing, legal questions, statistics and even wondering about tax implications ‐‐‐all areas that REALTORS® assist their clients on a daily basis.

When we ask these callers if they are being represented by a REALTOR®, the answer is invariably “no” but they need help and that is why they are calling us! In these situations they are typically in the thick of a deal, emotions running high and realising that they’re in over their head. It’s at this point they need someplace to turn for counsel to keep their deal from going sidewise.

As more “for sale by owner” type companies compete to advertise sellers properties, the pressure is on for the would be do‐it‐yourselfer to “go it alone”. The message they’ve received is that selling your home is not that difficult, and you do not need a REALTOR®. Some companies enjoy using attack ads and have been particularly nasty using derogatory language to describe real estate professionals, and spread their message that you can save a whole lot of money by using (and paying for) their services instead! (By the way… most of these companies are not licensed to trade in real estate – they are simply advertising your property).

They’re right insofar as you don’t “need” a REALTOR® to buy or sell your house. But what many of these consumers are now learning is that finding the house, or finding a purchaser is the easy part (relatively speaking of course…it’s not difficult to find a home, but to find the home can be a different story). It’s all the other stuff that goes along with the sale or purchase of a home that can be challenging, and not knowing what you are doing can cost you large in the in long run.

While we admit to being biased, we strongly urge consumers re‐think this notion that they don’t “need” a REALTOR® to assist in their transaction. After all, you don’t “need” a lawyer to draw up a will – there are dozens of kits available online that you can use, but in the real world things rarely go as planned and life (and death), can be complicated.

REALTORS® offer a wide range of services, using a wide range of business models, offering a wide range of fees and commission structures – while one size does not fit all, there will be one that fits your needs.

We can’t tell you which REALTOR® to use, but we do suggest you interview more than one.

For more information on how REALTORS® help, and questions to ask when interviewing a REALTOR® please visit www.howrealtorshelp.ca