Why are Home prices rising? | KT Confidential EP 138

On this podcast, episode 138, Adrian and Ariel break down “Why home prices are rising in the real estate market.” This comes from a recent observation of buyers watching homes raise their prices with no explanation.

The reason is that the homeowner listed a price, likely very low to what they think the house will sell for, and they choose the strategy of holding offers. With this method, you price your home low, with the expectation you’re selling for more. This can also be because you may not know the value of the home and you would want to see how much people are willing to pay.

The reason why prices are increasing is that as the sellers start to receive offers, they either A) Receive no offers or B) The offer(s) that they receive are not satisfactory. This leads them to relist their home on the market at a price that they really want to sell for.

Another big factor that comes into play is that the home is only worth as much as someone is willing to pay for it. That number is completely subjective and is not determined by anything mathematical. Every single person assessing the home (realtors, buyers, sellers, appraisers) will not have the same opinion.

All of that and more on KT Confidential – Real Estate Podcast.


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Watch the previous episode here:
Episode 137

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Adrian Trott
Ariel Kormendy
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The founders, Ariel Kormendy and Adrian Trott, started The Kormendy Trott Team, a real estate team based out of Halton region in Ontario, after both being in need of a change from their successful careers in the automotive industry and both experiencing the lack of service being provided in the real estate industry. They kicked off their careers in 2011 and quickly became a top-performing team in the country, ranking 17th of approximately 200 for Century 21 in 2017; as a team of just the two of them compared to much larger teams. They decided that they needed to take their team from being real estate agents in Milton to the rest of the GTA and beyond by expanding and servicing more areas. The team has since grown to have an administrative arm, media department and successful sales team operating a smooth running and successful business. Follow them on social for behind the scenes info, real estate tips, industry secrets and more.

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