Real Estate

Ottawa Real Estate market discussion

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Deal Addict
Apr 4, 2013
1274 posts
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Adams06 wrote: Is it just me, or does Rushforth make it seem like anybody that tries to sell their house without a RE agent is doomed to a life of failure (especially if they don't use one of his agents)?

And his commercials bug me. He says that his agents sell a home on average every 2 days, whereas the industry norm is one sale every 30 days, or something along those lines. Is he comparing the average of all home sales by his entire agency to the average home sales of an individual agent?

I like listening to the RE and mortgage show on the weekends to see how Ottawa is doing, but the agents on their come off a bit pompous sometimes.
I am also not a fan of the Paul Rushforth team. I have listened to the Real Estate and Mortgage show and have heard Rushforth state many times that he is a listing agent and that his job is to list your home. I want someone to sell my home, of which listing it is just one part of that.

I have also noted that after several years of casually reviewing his listings, the brokerage tends to list the homes on the lower end of the selling price. I have heard Rushforth state in the past that they list for what they think the home will ultimately sell for, basically doing away with negotiations. Sounds great, if you can demonstrate that your homes sell for 100% of listing price. Otherwise, it is just another gimmick.
Deal Guru
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Jun 28, 2003
10132 posts
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Ottawa
Speaking of radio shows, do you guys listen to the other real estate-related shows on CFRA, namely the Bennett Pros and Mortgages made Easy.com shows? If so, are they any good/better/worse than Rushforth's show?

I believe those 2 are in the early afternoons so I don't usually remember to tune in. I suppose I can always listen to the podcasts after.
Member
May 23, 2007
441 posts
136 upvotes
Kanata
I noticed that too. They fleeced someone in my area. 2600 sq foot home on a quiet crescent. Listed it for 415k and sold it quickly for 400k. Well under market value.


cbr663 wrote: I am also not a fan of the Paul Rushforth team. I have listened to the Real Estate and Mortgage show and have heard Rushforth state many times that he is a listing agent and that his job is to list your home. I want someone to sell my home, of which listing it is just one part of that.

I have also noted that after several years of casually reviewing his listings, the brokerage tends to list the homes on the lower end of the selling price. I have heard Rushforth state in the past that they list for what they think the home will ultimately sell for, basically doing away with negotiations. Sounds great, if you can demonstrate that your homes sell for 100% of listing price. Otherwise, it is just another gimmick.
Deal Addict
Apr 4, 2013
1274 posts
406 upvotes
canabiz wrote: Speaking of radio shows, do you guys listen to the other real estate-related shows on CFRA, namely the Bennett Pros and Mortgages made Easy.com shows? If so, are they any good/better/worse than Rushforth's show?

I believe those 2 are in the early afternoons so I don't usually remember to tune in. I suppose I can always listen to the podcasts after.
I listened to the Bennett Pros once. If was a podcast of an earlier show. I turned it off as it really was nothing more than one big commercial.

Have you noticed that most of these shows rarely get many callers?
Deal Guru
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Jun 28, 2003
10132 posts
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Ottawa
z613 wrote: I noticed that too. They fleeced someone in my area. 2600 sq foot home on a quiet crescent. Listed it for 415k and sold it quickly for 400k. Well under market value.
I don't know what part of town this home is and what the sellers' personal and financial situation are but I think the homeowners should also take some responsibility here. Rushforth and his teams are there to facilitate the transaction (as is the case with other realtors, I may add) and give advice where warranted but ultimately, it is up to the homeowners to decide whether they want to sell their homes at a particular price point.
cbr663 wrote: I listened to the Bennett Pros once. If was a podcast of an earlier show. I turned it off as it really was nothing more than one big commercial.

Have you noticed that most of these shows rarely get many callers?
Yes Marnie and her family are heavily involved in the local real estate scene. I subscribe to her son-in-law (Greg) newsletter and he does have the occasional interesting real estate tidbits to share but it also contains links to many listings.

I don't get to hear this Marnie show much but there are usually about 4 or 5 callers calling in the Rushforth show, on any given week. Some of them has questions for Frank (or Barb?) about mortgages and that is not really my area of interest but I do appreciate the input.
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Sr. Member
Aug 6, 2014
830 posts
293 upvotes
Ottawa, ON
canabiz wrote: Rushforth and his teams are there to facilitate the transaction (as is the case with other realtors, I may add) and give advice where warranted but ultimately, it is up to the homeowners to decide whether they want to sell their homes at a particular price point.
out of curiosity, is it common for someone selling their house to 'interview' a couple of selling agents to see how much the selling agent thinks they could sell the house for? or will that just lead to selling agents exaggerating the selling price to get the job..
Deal Fanatic
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Feb 2, 2014
8329 posts
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Toronto
fisher44 wrote: out of curiosity, is it common for someone selling their house to 'interview' a couple of selling agents to see how much the selling agent thinks they could sell the house for? or will that just lead to selling agents exaggerating the selling price to get the job..
Yes, it's common (called listing presentations).

Do not simply pick the agent that presents the highest valuation of your property. Agents may have an higher valuation because they are exaggerating you get your business (as you mentioned) or simply have poor valuation skills for your local market. Also simply don't pick an agent who has the most sales in your area...just because an agent is good at getting listings in your area, it does not mean they have the best overall skill set that will get you the most money for your home.

Listen to the facts that they are presenting about your home and market.
Kevin Somnauth, CFA
Principal Broker - First Toronto Mortgage - MA (Ontario #13176, BC #X301007)
Real Estate Salesperson - Century 21 Innovative
Deal Guru
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Jun 28, 2003
10132 posts
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Ottawa
fisher44 wrote: out of curiosity, is it common for someone selling their house to 'interview' a couple of selling agents to see how much the selling agent thinks they could sell the house for? or will that just lead to selling agents exaggerating the selling price to get the job..
I think Kevin more or less answered your question. Just speaking from personal experience, we invited 3 agents in to give us a market evaluation before we were ready to list our house. We interviewed them and went through their proposal, which was very similar in terms of numbers, I might add.

We made it clear from the get-go that we were under no obligation to sign anything and it was up to them to entice us to do so. We did not go with any of them in the end although we would be ready to go with 1 of them for Plan B. I have since recommended said agent to a number of acquaintances as well so all was not lost...
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Sr. Member
Apr 23, 2009
901 posts
86 upvotes
canabiz wrote: Speaking of radio shows, do you guys listen to the other real estate-related shows on CFRA, namely the Bennett Pros and Mortgages made Easy.com shows? If so, are they any good/better/worse than Rushforth's show?

I believe those 2 are in the early afternoons so I don't usually remember to tune in. I suppose I can always listen to the podcasts after.
Do they have their own dedicated shows, or are they just guests for the 'experts on call' segment that pops up on the weekends?

I don't go out of my way to listen to any of them specifically, but I will put them on when I'm driving on the weekends.
Deal Guru
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Jun 28, 2003
10132 posts
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Ottawa
Adams06 wrote: Do they have their own dedicated shows, or are they just guests for the 'experts on call' segment that pops up on the weekends?

I don't go out of my way to listen to any of them specifically, but I will put them on when I'm driving on the weekends.
I believe Marnie has her own show called Marnie's Real Estate Hour while the MortgagesMadeEasy.com crew are probably guests for the *experts on call* segment.

Regardless what format the shows are, I only remember to tune in Rushforth's show in the morning because that is when I head out to do grocery and can listen while driving.
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Sr. Member
Aug 6, 2014
830 posts
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Ottawa, ON
went to an open house across the street yesterday, i thought it was 30-40k overpriced and the agent said he had multiple offers on the first day. he said that real estate agents are doing really really well this year and the season hasn't even started yet.
Sr. Member
Dec 19, 2009
793 posts
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Ottawa
fisher44 wrote: went to an open house across the street yesterday, i thought it was 30-40k overpriced and the agent said he had multiple offers on the first day. he said that real estate agents are doing really really well this year and the season hasn't even started yet.
What area of the city is that in?

Interesting. Fiancé and I put an offer on a place in Hintonburg area last week and were outbid. House had only been on the market for 3-4 days when we put our offer in. Our offer was as much as I was willing to pay (and what I felt market value was for this place)...but obviously someone wanted it more.

I feel like houses in the city's core in even semi-desirable areas go quickly. The suburbs...not so much. With all the new builds....there is a lot of inventory the further you go out. That's been my observation anyway.
Deal Guru
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Jun 28, 2003
10132 posts
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Ottawa
I personally would not be too worried even if you own houses in the 'burbs.

Per the forecast below, we are supposed to have a healthy increase in terms of population, at least for the next 10 years.

http://ottawa.ca/en/city-hall/get-know- ... projection

All of the new folks (immigrants, people relocating for jobs or school etc) will have to live somewhere. They are not building many, if at all, dwellings within the Green Belt anymore and not everyone wants to live in condos.

If you want some more spaces for your kids/pets, within your budget, and accessibility to all the trails and outdoor activities while still within driving distance to downtown Ottawa, the 'burbs don't really sound that bad...when you look at it at the end of the day.
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Newbie
Feb 10, 2007
15 posts
mikek33 wrote: What area of the city is that in?

Interesting. Fiancé and I put an offer on a place in Hintonburg area last week and were outbid. House had only been on the market for 3-4 days when we put our offer in. Our offer was as much as I was willing to pay (and what I felt market value was for this place)...but obviously someone wanted it more.

I feel like houses in the city's core in even semi-desirable areas go quickly. The suburbs...not so much. With all the new builds....there is a lot of inventory the further you go out. That's been my observation anyway.
recently, I am looing for the house in westboro, it's sold out so quickly. Also, a lot of owner split there single house to two semi. It seems the trend is buying a old house, and torn down to build duplex or triplex.
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Dec 8, 2010
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ethel197 wrote: recently, I am looing for the house in westboro, it's sold out so quickly. Also, a lot of owner split there single house to two semi. It seems the trend is buying a old house, and torn down to build duplex or triplex.
Have you not heard the phrase "in trendy Westboro"?? It's been like that for at least 5-6 years, when we rented a little one bed apartment in what was a big old house split into four.

If only we'd bought there, then... ha.

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