Case Studies

Case Study 1 - August 2007

My client had relocated back to Saskatoon in September 2006 right before the Saskatoon real estate market started to increase.  When he first relocated back he purchased an 1100 square foot bungalow in Arbor Creek.  He had been in this home for approximately 11 months before he decided to start looking at upgrading to a larger home with a better layout for his needs.  I met with my client and discussed in depth what type of home he was looking for.  Our discussion included everything from location to size and layout of the home to price.  As the Saskatoon real estate market had went through a huge growth phase over the past 11 months we sat down and set realistic expectations to meet his goals.  After confirming the type of property my client was looking for I started actively looking for him.  I set my client up to receive new listings as they would come on the market so we would be able to react quickly to anything that my client was interested in.  The Saskatoon real estate market at this time was in bidding situations so if you found a property that you were interested in you had to act quickly.  I also set him up with a mobile mortgage specialist who was able to arrange for interim (blanket) financing in case he had to buy a new house before selling or without the condition of selling his home.

We had spent approximately 2 weeks visiting a few homes that had come on the market my client was interested in but upon visiting the home it wasn’t the “right” place for him.  As a real estate agent I regularly visit open houses to see what else is on the market.  In one particular instance I visited a home that no pictures were provide for and a very poor description was given by the listing agent.  I attended the open house for this property not knowing exactly what to expect, but upon arriving and walking into the home knew that this was exactly the type of home my client was looking for.  I immediately called my client to arrange a viewing.  The same day my client and I visited the home and did a complete walk through.  He knew immediately this was the house he wanted.  The listing indicated that there was a presentation of offers being accepted 5 days later.  Over the next 5 days I provided my client detailed information on the current market and information on comparable homes in the area and the selling prices.  My client had requested a second viewing to confirm his initial feelings which I gladly arranged.  Upon the second viewing my client was confident this is the house he wanted.  That evening we met and put together an offer that he was comfortable with and submitted it to the listing agent and met the terms the sellers were looking for including possession dates.  The next day the listing agent had called and informed us my client had been awarded the sale.  My client was ecstatic that he had found the house he wanted and purchased it for the price he wanted.  Now that my client had purchased a new home he now had to sell his existing one.  For more information about the sale of his existing home visit my Sellers Case Study section and read Case Study 1.