I get asked the same questions all the time. Some come up on the first phone call, some at every showing, some right before we sign an offer. And honestly, the answers I give in private are not always the polished marketing answers you read on real estate websites. So here are the honest versions, the ones I'd give a friend over coffee.
I've split this into the questions buyers ask me most and the ones sellers ask me most. Skip to whichever applies to you.
For Buyers in Kelowna
What can I actually afford?
This is the right first question, and it is the one most people skip. Pre-approval gives you a number from your lender, but that number is what you can borrow, not what you should borrow. The first real conversation I have with new clients is about the difference between those two. We back into a monthly payment you are genuinely comfortable with, then figure out the price range from there. The down payment also is not always what people assume. In our region, 5 percent is doable for first-time home buyers and principal residences, and we can talk through what makes sense for your situation. If we get this part wrong, every showing after it is wasted time.
What neighbourhood should I be looking at?
The honest answer is, I do not know yet. I need to ask you about your commute, your lifestyle, how you feel about lake access versus mountain view, whether schools matter, whether walkability matters, and whether you want a yard or a townhouse complex. The neighbourhoods I'll recommend for a young family in Glenmore are very different from the ones I'll recommend for a downsizing couple from Calgary. The "what neighbourhood" question is really a hidden "what kind of life are you trying to build" question. Answer that, and the neighbourhood answers itself.
Is the price fair?
Price is the wrong word. Market value is the right one. A home is worth what a buyer will actually pay for it, today, in this market. Before we make an offer, we look at the last three to six months of sales of similar homes in the same neighbourhood, the average days on market, and where the list-to-sale ratios are running. If a home is overpriced, the market usually tells us by sitting. If it is priced well, we have to move.
Should I wait for the market to drop?
This is the question I get asked the most, and it is the one with the least satisfying answer. Trying to time the market in real estate is a losing game for most people. The costs of being wrong are big, and the savings of being right are usually smaller than people think. If you are buying a home you will live in for at least five years, the right question is whether the home fits your life today and whether the monthly payment is comfortable. The market 18 months from now is not something I can predict, and I won't pretend I can.
How fast do I have to move?
It depends on the property and the segment. Homes priced well in family-friendly neighbourhoods are still moving in days, not weeks. Homes that need work, or ones priced too aggressively, sit. If I tell you to move fast on a property, it is because I have already done the math on the activity it is getting. If I tell you to wait, same reason.
Is it OK to make a lowball offer?
It is always OK to ask, but how I ask depends on the situation. If a property has been sitting for 60 days, a lower offer with strong Terms and Conditions is reasonable, and we have leverage. If a property is fresh on the market and getting multiple showings the first weekend, a lowball offer will get rejected outright and burn your shot at it. Knowing which situation you are in is part of what I am there for.
Do I need a buyer's agent?
In British Columbia, buyer representation is set up so that having an agent in your corner generally does not cost you out of pocket on the purchase, and it gets you someone whose job is to look out only for you. Walking into a deal without one means you are negotiating against the seller's agent alone. That is their job and they are good at it. Get representation.
For Sellers in Kelowna
What is my home actually worth?
The same answer as buyers, just from the other side. We do a comparative market analysis using the last three to six months of sales of similar homes in your neighbourhood. We look at what is currently competing with you, what the days-on-market trend is doing, and which features are driving premiums right now in your specific area. The number we land on is not the number you would love to get, and it is not the number a competing agent might quote you to win the listing. It is the honest one.
When should I list?
Late winter into spring is the historical peak for the Okanagan. But the truth is, life does not always wait for the perfect listing window. If you need to move, we list when you need to move, and we adjust the strategy accordingly. The bigger lever than season, in most cases, is preparation and pricing.
Do I need to renovate before selling?
Usually no. Most renovations do not return their cost at sale. The exceptions are paint, decluttering, deep cleaning, and small kitchen or bathroom updates if those rooms are badly dated. I will walk through your home with you and tell you honestly which projects will move the needle and which ones will just spend your money. If a full renovation makes sense, I will tell you that too. If it does not, I will save you tens of thousands.
How do I pick the right offer?
Price is one factor. It is not the only factor, and sometimes it is not even the most important factor. Terms and Conditions matter just as much. A higher offer with weak financing and a long subject removal period can fall apart and put you back at the start. A slightly lower offer with strong financing and a clean condition removal can be the better deal in the end. We look at every offer together, side by side, before you decide.
Why didn't my home sell yet?
There are usually three reasons a home does not sell: price, presentation, or marketing. Price is by far the most common. If your home is sitting and getting showings but no offers, the market is telling us the price is wrong. If it is not getting showings at all, presentation or marketing is the issue. The honest conversation I will have with you is about which one it is, and what we change to fix it.
The truth I tell every client
My job is not to tell you what you want to hear. It is to tell you the truth, in time for you to do something about it. Sometimes that means pushing back on a number. Sometimes it means telling you a deal is wrong for you. Sometimes it means telling you to wait, even if waiting means I do not earn a commission this month.
If you have a question that is not on this list, or you want a longer answer to one that is, I am always happy to chat. No pressure, no obligation.
Curtis Gedig
Personal Real Estate Corporation
Coldwell Banker Horizon Realty
250-899-1442
info@curtisgedig.com
