Life after lockdowns, in combination with a series of aggressive interest rate hikes, is causing quick shifts in Ottawa’s real estate market. It’s in tumultuous times like these that Ottawa home buyers and sellers know they can trust a professional REALTOR® to assist them with their purchase or sale.
The Ottawa Real Estate Board, known as OREB, is an association of approximately 3,900 registered real estate brokers and salespeople in the National Capital Region.
For more than a hundred years now, OREB’s role has been to uphold the highest standards of ethics and professionalism in Ottawa’s real estate industry. OREB embraces a range of business models that operate within the framework of regulatory requirements for buying and selling real estate.
In short, OREB provides the confidence behind the sign.
The association fulfills its mission by providing professionally licensed REALTORS® with leading-edge technology, tools, and resources.
One example of OREB’s advanced technology is Ottawa’s MLS® system, the most popular and trusted real estate platform, and it gives the best possible exposure to a property listing. The MLS® System includes an inventory of listings of participating REALTOR® members, and ensures a certain level of accuracy of information, professionalism, and co-operation amongst REALTOR® members to affect the purchase and sale of real estate. OREB manages the system database and ensures compliance with rules to keep it reliable and accurate. OREB also sends residential and commercial listings to the Canadian Real Estate Association (CREA) for display on realtor.ca, the nation’s most powerful consumer facing website for real estate.
Realtors: Bringing the confidence behind the ‘for sale’ sign
Today’s real estate market is drastically different than even just a few months ago and buyers and sellers must adjust their expectations of both the process and the results. While there’s a lot more choice as the volume of new listings rises, the sales cycles are longer and many properties are now being sold at, or a little under, the asking price. Although some homes are still being sold above asking and within multiple offers, for the most part it’s a return to Ottawa real estate’s normal stability.
But no matter whether someone is buying, selling or renting, property transactions mean making some of life’s biggest financial decisions. To get the best possible outcome, a smart choice is to depend on a professional and licensed REALTOR® in navigating the process.
Did you know that not all real estate salespeople are REALTORS®? To be able to call themselves a REALTOR®, a registered broker or salesperson must be a member of OREB and adhere to a Canada-wide code of ethics which in many cases is a higher standard than what is set out in provincial regulation. By virtue of their membership in OREB, they are also members of CREA and the Ontario Real Estate Association. These are all professional associations working to support REALTORS® in their service to consumers.
Along with localized knowledge and expertise, a REALTOR® is a skilled and experienced negotiator and is required by law to act in the best interest of their clients. To efficiently support the home buying and selling process, they utilize legally vetted contracts and standardized forms. While clients can get caught up in the excitement, a REALTOR® is there to make sure the I’s are dotted and T’s crossed so offers are legally binding and to ensure the appropriate due diligence is taken.
During these volatile times, buyers and sellers alike can depend upon a REALTOR® to help navigate the shifting resale market. These property experts have access to minute-by-minute sales data and local neighbourhood insights to support the best decisions for each client.
Doesn’t it make sense to have on your side a real expert on the local market who understands life in your particular neighbourhood? A REALTOR® has the knowledge and experience to support you through your property’s purchase or sale from start to finish.
Ottawa real estate starts here
Buying or selling a property in the National Capital Area? Our new, free eBook, Ottawa Real Estate Starts Here, is designed to help you understand the process and support you in successfully navigating one of North America’s most highly regulated real estate markets. You can download it here.