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If you’ve walked through one of our open houses lately, there’s a good chance you weren’t greeted by Kandace or I. You may have met Jacob, Kristina, Ryan, Brent, or a host of other excellent ‘hosts’ instead.

I wanted to take a moment to share why we’ve made this transition over the last couple of years. The short answer is: it’s better for our sellers, better for the buyers who walk through the door, and frankly, we believe it’s the right way to do business in BC today.

Let’s Talk About ‘Rules’

Nobody likes talking about rules, but stick with me, it’s worth it.

In June 2018, BC banned dual agency in all but very rare circumstances. Dual agency is when one Realtor represents both the buyer and the seller in the same deal. 

I think that’s a good rule, in fact even when legally I could represent both parties I chose not to. You can’t push hard on price for your seller in the morning and then advise the buyer on how low to go in the afternoon. It was an inherent conflict, so I walked away from a few fees to avoid it. 

It takes time for practices to change though, and after a legal update course a couple of years ago we began transitioning to ‘host agents’ at open houses as a result.

When a buyer without a Realtor walks into an open house hosted by the listing agent, that agent works for the seller. Anything the buyer shares, their budget, their timeline, why they’re moving, can be passed on to the seller. Many buyers just think they’re being friendly and up-front, but too often it’s put us in a dangerous position.

We take the rules seriously. We’ve had to stop buyers mid-sentence, verging on rude, to say, ‘Please stop, don’t tell me anything more, we’re here to represent the seller, we cannot represent you, and you’re at risk of sharing information that could cause us to stray into ‘implied agency.’ 

Minimally, that’s awkward, but it gets worse. If we end up in a position where a buyer has overshared confidential information we may be in a position where implied agency could be claimed, and we’d have to recuse ourselves, not just from the buyers… but from the sellers too. 

Can you imagine us coming back to you after an open house saying, ‘we have an interested party, but they’re so interested they massively overshared their position, they weren’t represented, and now there’s the danger of implied agency. We’ll need to pass your listing off to a colleague to handle this situation safely.’ 

So What Does A Host Agent Change?

A host agent is a licensed Realtor who hosts the open house on our behalf.

We’ve vetted them, and at this stage they’ve hosted many open houses for us.

They’re fully briefed before they arrive.

Kandace sends a full package: our open house cheat sheet, the age of important systems in the home, upgrades that have been completed, the property documents, brochures, the photos, right down to where the lockbox is and which pets are crated in the garage.

The host is fully appraised of the seller’s home details, but they don’t represent the seller.

• For our sellers: the person at the door is focused on showing the home well, gathering honest feedback, and potentially being able to ‘close’ an unrepresented buyer immediately (we could never do that.)
• For buyers without a Realtor: they can get real advice from someone who’s actually free to represent them. They can go write an offer at a coffee shop immediately after the open house is done.  
• For buyers who already have a Realtor: nothing changes. The host passes along their feedback and questions, and we follow up with their agent directly.

The Reports Speak For Themselves

I genuinely believe we have our open house setup dialled in right now. Our hosts don’t just unlock the door and scroll on their phone, they’re featuring the best of the home and actively reporting back to us. 

Last month Kristina hosted one of our townhome listings in Langley and eleven groups came through. Her report that evening covered every one of them: their agents details, what their non-confidential feedback was, and any questions we could answer for their agent.

Two groups weren’t working with a Realtor, and she followed up with them personally the next day.

Then this past weekend Jacob hosted our new Mission listing. He was there while I was out showing properties to those same sellers for their purchase side! 

We got all the details we needed from Jacob, reached out to the agents, and we currently have an accepted offer on that home from someone that came through that open house. 

A Win-Win-Win

This solution has been working for everyone involved. 

The sellers know their open house is being well hosted. 

The buyers can speak freely to someone permitted to represent them. 

The host agents are incentivized to ‘close’ business. 

We’re not put in an awkward position where we may have to recuse ourselves.

And we’re available to our clients to do our own tours!

As always, we’ll continue to refine our processes to try to make them as beneficial to our clients as possible. 

If you’ve got any questions about our approach on this, or anything else, never hesitate to reach out. 

We’re excited to have launched ‘Tipped Off The Bar- The Official Vancouver Football Club Podcast’! A project in partnership with Vancouver Football Club, and my son, Boaz! 

Episode 1 was a pilot where we shared our vision for the podcast, an interview with the first ever season ticket members, and a summary of the season thus far. 

Episode 2 feels like we really hit our stride though, with an interview with Emrick Fotsing, the Canadian U-20 captain, current VFC player, and future Vancouver Whitecaps player. There are also sections with club captain, Callum Irving, giving a tonne of insight into how he selects his equipment; a number of interviews from our recent ‘away day’ to Victoria (including some banter between one of our fans and Pacific FC’s captain); and a look ahead to what we hope will be our first ever playoffs! 

I’d love it if you’d give it a listen below, and even if you’d subscribe, like, review, etc. as we get the podcast off the ground! 

Spotify

Apple Podcasts

YouTube

It’s always so interesting to us what stands out to clients about their experience working with us, and sometimes it’s the little things we take for granted. 

Years ago we began using What’s App group chats with our clients, with both Kandace and I in there, so that there was always a licensed member of the team available to respond almost immediately.

Although this is just part of our standard service it wasn’t something that went unnoticed by Tammy, whom we just helped navigate a move closer to the water.

Thanks David and Kandace for walking alongside me during my sale and purchase journey. You both were so professional but what I appreciated most was our group chat. Being able to communicate quickly and efficiently to get answers to questions and to be able to respond to your requests helped make the process seamless. I highly recommend David and the team. Best realtor in Surrey.

Congratulations on your new home in White Rock, Tammy, we’re excited to give you the keys tomorrow!

Over 90% of our business at David Smith Homes Group comes from introductions or ‘referrals,’ in fact it’s what our whole business is built around. 

Instead of us spending tens of thousands of dollars trying to secure new clients, we like to invest in performing well for our current clients and also in thanking the source of those introductions. 

We’re launching a new program in 2025 to say ‘THANK YOU’ in a real tangible way, if you introduce us to a friend, family member, colleague, team mate, whatever… and they purchase and/or sell a home with us in the following year, we’ll pay YOU $500. 

Reach out to david@davidsmithhomes.ca if you have any questions about this program or any introductions to make! 

I want to tell you about a phenomenal deal that almost fell apart at the 11th hour over eight hundred and fifty dollars.

Not $850 in the original price negotiation. Not $850 missing from a deposit. Eight hundred and fifty dollars to fix a minor item on a property the buyer had secured for thousands of dollars under what other listing agents believed the market would allow.

Other agents actually laughed when I said what we’d be willing to pay (more on that below).

We’d already secured that price and here we were, hours before subject removal, with it all nearly falling apart.

So How Did This Begin?

We’ll never disclose confidential information, so I’ve adjusted some details here, but the story’s valuable for anyone looking to buy a home in this market for a number of reasons.

Here’s how it began. We had toured a good number of comparable properties together, on the upper end of our price range, in fact, beyond range. The buyer wanted to be aggressive with the offer, as many do these days. So, we got to work.

I confidently called the listing agents, explaining, ‘look, we’re going to get one of these for this price. The inventory is high, and someone’s going to say ‘yes’. That’s going to become your new comparable and starting point for your next negotiation, I suggest you work with us.’

That’s when they started laughing at me. I just kept my cool and moved on until we found an agent that understood what I was saying and we negotiated a great deal.

We arrived at home inspection and the inspector turned up an issue, not unusual- that’s their job, I always introduce them as ‘bad news bears’. Inspections find things, the question is never whether something gets found, it’s how we respond to it. The sellers were unwilling to organize the fix themselves. Fair enough. It was an estate sale, the sellers didn’t live in the area, it’s a minor item. We can manage this a number of ways, likely a price adjustment- I had a plumber on the phone within minutes, who ripped over there and gave us an immediate quote.

This wasn’t really about plumbing though, it was about who got involved at this stage.

Who’s At The Table?

With hours left to handle this minor issue and remove subjects, someone entered the conversation who had been at a distance up until that point. Now, I do want to be as charitable as I can be, that person genuinely cared about the buyer’s outcome. What they lacked though was the context.

They didn’t have the understanding of just how under market value the property was secured for. They weren’t able to keep the issue in perspective as they hadn’t heard either the inspector or the plumber speak to it, and the way in which they did- very casually, even nonchalantly, because this is something they see every day.

Their entire perspective was, ‘this could be huge, walk away’ when everything pointed to a $850 fix.

Late in the process is not the time to discover that someone without context has a seat at the table. The people who show up at the 11th hour aren’t trying to cause problems- they’re trying to protect someone they care about; but real estate decisions made without context aren’t protective, they’re disruptive, and can potentially torpedo a transaction that we may not be able to get back to the table.

Often at this stage weeks, months, even years have gone into the process. The buyers know the backstory- what they’re getting, what they paid, and why it makes sense for them. The person coming in late only has the current moment and an unqualified opinion on a high-stakes decision with a ticking clock. That’s not a recipe for good advice, it’s a recipe for anxiety, especially for the buyer.

To be clear, I’m not saying don’t bring people you trust into your decision- what I’m saying is to bring them in early enough that they can be helpful. This is one of the reasons we ask before we even have our initial consultation if there is anyone else involved in the process. We want to meet them, to involve them, and to ensure they have the full context.

By the time you’re hours from removing subjects, there should be no new votes. Part of our job is managing the decision environment around our clients, not just the paperwork and the negotiation.

Whether it’s parents, adult kids, someone else providing a gift toward the downpayment… whoever it is, let’s involve them early and throughout the process.

It All Worked Out In The End

Thankfully a very candid conversation involving both the purchaser and their new confidant led to a reasonable solution, price adjustment and subject removal. The stress caused by this though was significant for the buyer and I really felt for them- it should never have overshadowed what was a win in a challenging season of life.

I honestly shared my opinion that we were losing the forest for the trees. We walked through the process again from beginning to end- how we’d arrived at the moment of this decision. By the end of that conversation he felt he could make a grounded decision instead of a reactive one.

What I Want You To Take From This

The $850 issue wasn’t nothing, I’m not that calloused, even after a decade in the business, but it was also the smallest number in the transaction by a wide margin. Items like that are going to come up in almost every transaction, especially now, when home inspections often lead to addendums papering exactly how deficiencies are going to be addressed.

There are also plenty of opportunities for outside voices to get involved, let’s involve them early and often.

There is a version of this story where the deal falls apart- where an unfamiliar concern, introduced without context and without time, wins, and the buyer walks away. They would have missed out on a great property, and more importantly, they would have missed the timeline for their move and would have had to move multiple times, including a rental. Seriously not ideal.

It didn’t happen here because we took the concern seriously, moved quickly, found a solution- and had a direct conversation about what was actually at stake. That’s what our client needed, not me just telling them what would make them most comfortable in the short term.

If you’re thinking about who you want representing you in a transaction, think about this: what happens on deadline day? Someone who waits to see if the problem resolves itself, or someone who picks up the phone, says the hard thing, and gives you a solution?

Ultimately, we want to fight for you to get the right outcome, whatever is in front of us. And if you’re buying, know that the subject removal deadline is when emotions run highest and context matters most- make sure the people in your corner at that moment have the full picture.

Now… I need a good camomile tea after recounting all that! Reach out if you’ve got any questions about how we can help you meet your real estate goals.

I can’t believe fall is just around the corner, but here we are! Between the atmospheric rivers, wind storms, and saturated ground that the Fraser Valley can experience around this time of year, fall is one of the most important seasons to get your home ready for- so each year we like to share a few tips to help you do just that.

Try to tackle these tasks now to keep your home in great shape for fall and winter- and protect your investment along the way.

Heating & Cooling

• Clean or replace furnace filters
• Lubricate fan and motor bearings (only where indicated)
• Vacuum dirt and dust from around the unit
• Have the system serviced before the season starts

Doors & Windows

• Inspect caulking for deterioration at openings and joints between dissimilar materials (e.g., wood and masonry), especially along the top
• Check weather stripping and replace if necessary
• Remove screens if possible, clean them, and store in a dry place

Fireplace & Chimney

• Have the fireplace and chimney professionally inspected if burning wood
• Have the chimney cleaned if needed
• Use binoculars to check for loose, deteriorated, or missing mortar or bricks
• Have gas fireplaces serviced at least once every two years

Foundation & Exterior

• Clear gutters and downspouts of leaves and debris
• Check for moisture or leaks in the crawlspace or basement
• Check grading for proper slope away from the foundation
• Inspect wood surfaces for weathering and paint failure
• Check brick and stucco surfaces for cracks

Staying on top of maintenance is key to preventing small issues from turning into bigger (and costlier) ones down the road. We keep a running list of trusted local contractors- so if you’d rather not tackle any of this yourself, just reach out and we’re happy to make recommendations.

And if you’re weighing a move next year, fall is also a great time to start talking timing for a spring listing- just let us know.

Playground Pain?

Many of us will remember the ‘game of chicken’ played in the playground as kids. For those of you sensible enough not to have played, let me paint you the picture.

Two kids are lined up toward one another, a good distance apart, the game is to run at each other as fast as you can until one breaks away at the last second.

Neither kid knows which way the other will break, so even if one or both do eventually veer off, they can still often run into each other.

It’s the perfect game for little humans with undeveloped frontal cortexes! The bragging rights went to the one who more often than not valued ‘winning’ over their nose not bleeding or their collarbone not breaking.

Ultimately, it’s a game that’s ‘won’ by the kid who can tolerate discomfort the longest, knowing fine-well there may be consequences for waiting beyond where they should have.

I’m seeing a very similar dynamic unfold in the real estate market these days, as sellers’ expectations can vary wildly from buyers’ hopes.

Winning The Real Estate Game of Chicken

One of the words we use most often with our clients is ‘leverage’, over the last decade we’ve identified where we can find a disproportional advantage.

This advantage can come in the form of some inside information; noticing the market is distracted by another property; seasonal timing; discovering a degree of distress; or seeing an opportunity others have missed.

Most often though, the leverage is found through patience.

‘Patience’ is a word clients rarely want to hear but would do well to listen to. In a message from a client that purchased their dream home with us recently, the client shared, ‘what’s crazy is we initially saw this place when it was $1,925,000 and thought, “well, it’s out of our range.” Your advice of patience and knowledge paid off and it came within grasp.’

Those days, weeks, and sometimes months of patience are the real estate game of chicken, and it’s higher stakes than a bleeding nose.

We waited and waited, running headlong toward the seller- neither of us appearing to break, neither willing to give in to the discomfort… until, they broke and we won, securing the property for a fantastic price and being able to negotiate other favourable terms.

Time, in this scenario, is rarely neutral. It tends to work in the buyer’s favour. Showings taper off, the lookers who weren’t serious fall away, and days on market start doing what they always do, which is apply pressure. The majority of the time, patience gets rewarded, and the seller eventually meets the market rather than the other way around.

Risk In The Real Estate Game of Chicken

One thing we won’t do though is guarantee an outcome, because the fact is that no matter how confident we are in the game of chicken, we can still end up losing our leverage.

The biggest risk in the real estate game of chicken is another buyer, one who doesn’t care what the comps say, who isn’t interested in waiting, and who might offer more than you’re willing to pay.

We had that happen recently too, where we were waiting patiently for the seller’s expectations to fall in line with our own, and next thing we know… accepted offer… for another party.  

Even then though, with less leverage than before, we submitted a backup offer that bumped the current offer in place and we were able to secure the home. Did we pay more than we had previously hoped? Yes. Did we still secure the property? Yes.

Depending on how long we wait, losing leverage like that is the less likely outcome, but it’s a possibility, and we won’t pretend otherwise.

What The Game of Chicken Is Really About

As much as we talk about ‘leverage’, ‘strategy’, ‘comparables’, ‘market stats’, etc., that’s not what the game of chicken is really about.

Ultimately, the game of chicken is about what level of discomfort you can live with.

If losing this particular house to somebody else’s impatience or ignorance would genuinely keep you up at night, that’s worth knowing about yourself before an offer is submitted by someone else, not after.

If you can live with that risk in exchange for more leverage, holding the line is generally the best move, until the seller’s expectations fall in line with yours.

Honestly, this is a part of the job I both love and hate. With both clients above, we could only give them expected outcomes, not guarantees. With both clients above, the greatest comfort I could bring was ‘the things that are within our control and under control; and we need to be comfortable with the things outwith our control.’

‘People Over Property, Always.’ means that we’re often more counsellors than Realtors, and that’s a good thing. We constantly tailor our advice to clients’ risk tolerance and stress threshold. There are some clients for whom waiting another week to potentially secure a further $10,000 discount is simply not worth it; and there are others for whom it’s not just advisable but necessary.

If you’re reading this article, there’s a good chance you’re one of our clients considering entering the ‘Game of Chicken,’ we’re here to talk through all the risks and give you the best advice possible to help you achieve your goals.

Now… does anyone have a full face hockey helmet they’re looking to part ways with?! I’ve got to protect this pretty nose of mine!

One of the things I’ve noticed about past reviews is they often refer to ‘multiple offers’, and some potential sellers may wonder, ‘are they really pertinent anymore?’ 

According to this month’s review, yes, they still are. It is still possible if a property is well priced and well marketed to receive multiple offers. Candidly, it can take a little luck too. 

We’ve had two multiple offer situations on our listings in recent months, and this was one of them: 

The David Smith Homes Group is the best real estate team in the Lower Mainland! We had an amazing experience working with David and his team. 

Communication was always clear, and David is incredibly knowledgeable, organized, and trustworthy throughout the entire process. 

David was fantastic with both selling and buying. We were able to sell our property with multiple offers, something a previous realtor had been unable to do. 

He also helped us purchase our dream home and secured us an amazing deal. We couldn’t be happier with the experience and would highly recommend David and his team to anyone looking for a realtor! 

– Dina & Karin G. 

We were also happy to assist with their purchase, just up the hill from us here in Walnut Grove. We wish you all the best as you get settled!