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Happy St. Patrick's Day

Wishing you a Happy St Patrick's Day!


With this busy spring market, there has never been a better time to sell than now. We'll work together to list your home in this new normal to get the best results.

I have modified my business to keep my clients & homeowners safe. I provide professional virtual showings, physical distancing, paperless transactions, priority in sanitization & safety with all appointments. Here are easy steps to list your home.

STEP 1: Stay casual or pj's!

Let’s start with letting me know when your available and we’ll schedule a Zoom call so we can meet virtually. I’ll get to know you & your home goals and with my expertise, I’ll answer any questions to help you, step by step, through the entire listing process.

STEP 2: Get your home ready for sale

- organize
- de-clutter
- clean
- interior & exterior touch ups and repairs
- dispose of any items no longer needed or donate
-curb appeal tips for both front and back yard

If you lack time or resources to do this, we have a list of dependable covid protocol suppliers that can help.

STEP 3: Picture/Virtual Tour Day

We’ll go over how to get the best results for picture day! I understand from experience what a homes’ integrity is, beyond the fresh paint & I help my clients with making informed decisions to maximize the purchase & sales potential of their home.

Choosing my services over many others will be the best decision you can make. I will handle the tough negotiations, I will be honest about your homes’ image & have the experience to share great ideas to allow your home to be the best home on the market!

If you’d like to discuss your DREAM HOME or NEED TO SELL YOUR CURRENT HOME, contact me at 403.815.7310.

EVELYN VOLK
SRS®, ABR®, CCS®
Sellers Representative Specialist
Accredited Buyers Representative
Certified Condominium Specialist
URBAN-REALTY.CA 


Credit image: Corefact
 

Not intended to solicit buyers or sellers currently under contract. 



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Time to Spring Forward and Get Into Your Dream Home

Credit Image: Corefact


How long do you need to own a home before you can sell it profitably? The answer depends on your individual situation, but generally speaking, the longer you own a house, the more you’ll net from its eventual sale. Sometimes life intervenes, however, and you need to sell after owning a property for only a few years. Here’s how to decide whether buying a home for the short term is right for you.

Length of ownership affects profitability

Conventional wisdom says that you always make money in real estate. Decades of steady population growth in Canada and the United States have generally put upward pressure on prices. But owning a home is not always profitable; sometimes it turns out you’d have been better off financially if you’d rented for the same period.


Interest rates and national and local economic conditions affect property values. Another factor determining whether you’ll make money when you sell a home is the length of time you’ve owned it. Conventional wisdom has it that you need to own a home at least five years before selling it. To make money when buying a home for the short term, your costs of buying and selling that house must be less than the equity you’ll accumulate during the time you own it.

Recovering costs to buy and sell

Making money on a property comes from building equity in it. Equity grows in two ways. One is when property values appreciate because of external factors, allowing you to sell the house for a relatively higher price than you paid for it. The other type of equity — called paid-in equity — is the amount of a property you actually own because of the down payment you made and the principal you have paid during your ownership.


To make money on the sale of a home, your total equity at the time you sell must exceed the costs of having bought and sold that home. These costs include:

  • The closing costs you paid when you bought the home you’re now selling. You can find these costs listed on your closing statement.
  • The interest you have paid on your mortgage during your short-term home ownership. Mortgage payments are the same amount each month, but the proportion of that payment that goes toward interest rather than principal shifts over time. In the early years of a mortgage, most of that payment goes toward interest, not toward the mortgage’s principal. This means that you actually build little paid-in equity through your first few years of payments. Check with your lender to determine how much interest you’ve paid.
  • The costs you’ll incur selling the home. These include money spent to ready the house for sale, real estate commissions, and the closing costs you pay as the seller.

For any home sale to be profitable, the total of all these costs must be less than the price you sell the home for.

Improving your chances of profiting in the short term

If you are shopping for a house and think that because of job changes, a growing family or other reasons you may be buying for the short term, there are a few things you can do to improve your financial prospects.

  • Buy a home you can more easily afford. Don’t strap yourself buying at the maximum that you can pay. One way to do this is to look for a home being sold by a distressed seller.
  • Someone who needs to sell quickly because of a job move, divorce, or other difficult circumstance may discount the sales price to speed things along.
  • If you think you may be buying for the short term, find a home that is offered at a discount because it needs fixing up. But research repair costs before you make an offer. If they’re high, you may not be getting a bargain.
  • If you put down 20 percent or more on the home when you buy it, you will finance less and save on interest costs.

These tactics can help make it more likely that when you sell after buying for the short term, the equity you recover will offset your costs.


Not intended to solicit buyers or sellers currently under contract. The article was revised from HOUSEOPEDIA’s original article.


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SELLERS' MARKET IN FEBRUARY LEADS TO RISING PRICES

Credit: Image by pjurisic0 from Pixabay 


City of Calgary, March 1, 2021 – With gains in every price range, residential sales activity in February totalled 1,836.


This reflects the best February since 2014.


“Despite continued COVID-19 restrictions, housing activity continues to improve. Much of the strong sales activity is expected to be driven by exceptionally low mortgage rates,” said CREB® chief economist Ann-Marie Lurie.


“Confidence is also likely improving as vaccine rollouts are underway. Additionally, some of the worst fears concerning the energy sector are easing with recent gains in energy prices.”


New listings also improved in February, but the gap between new listings and sales narrowed. This is causing the sales-to-new-listings ratio to rise to 65 per cent, keeping the months of supply well below three months.


Conditions are far tighter in the detached sector of the market, especially for product priced below $600,000, where strong sellers’ market conditions are present with less than two months of supply.


The market has faced relatively low inventory levels compared to sales for the past several months and prices continue to trend up. In February, the residential benchmark price rose over the previous month and currently sits four per cent above last years’ levels. 


Detached product has the lowest months of supply and is also exhibiting the most significant gains in prices. On the opposite end of the spectrum, the apartment condominium segment still has a relatively high level of inventory compared to sales, which is impacting price recovery for this property type.


HOUSING MARKET FACTS


Detached


Detached sales improved across every price range this month, but the lack of choice in the lower price ranges likely placed limits on the gains in sales.


New listings did rise, but it was not enough to prevent further tightening in the market, as the sales-to-new-listings ratio rose to 71 per cent and the months of supply fell to under two months. This is the lowest months of supply recorded in February since 2007.


Tighter market conditions occurred across all price ranges, but properties priced below $600,000 saw the months of supply fall to just above one month. These conditions are supporting significant price gains in the detached sector, which recorded a February benchmark price of $502,500. This is nearly two per cent higher than last month and five per cent higher than last year. It is also the first time since 2018 detached prices have risen above $500,000, and currently sits under five per cent below previous highs recorded in 2014.


Prices increased compared to last month and last year in every district of the city. However, the magnitude of those increases varied, with the largest year-over-year gains occurring in the South East district at nine per cent, and the lowest gains occurring in the City Centre at under two per cent. 


Semi-Detached


Semi-detached sales in February recorded significant gains, pushing sales activity to the highest February levels seen in nearly 13 years. However, like the detached sector, the improvements in new listings were not enough to offset sales, ensuring this sector continues to favour the seller.


With lower levels of supply relative to sales, benchmark prices improved over both last year and last month. However, this was not consistent across all districts. The West district continues to see prices that remain over two per cent lower than last year’s levels. The strongest year-over-year price gains were reported in the South East and North districts.


Row


Despite a significant increase in new listings, improving sales offset the gains and the months of supply fell to three months.


Conditions for row properties are not as tight as what we have seen in both the detached and semi-detached sectors. However, they do reflect an improvement relative to the oversupplied conditions recorded last year. However, when considering activity by price range, pockets of oversupply persist in this market.


Citywide reductions in inventory relative to sales supported some price improvements in this segment. The benchmark price trended up from last month and currently sits just over one per cent higher than last year’s levels. Year-over-year gains did not occur across all districts, as prices remain lower than last year’s levels in the North, North West, South and South East districts.


Apartment Condominium


Driven by product priced mostly under $300,000, apartment condominium sales improved to best February levels recorded over the past six years.


However, the gain in sales was not enough to cause any significant changes in inventory levels. February inventory remained elevated compared to levels we typically see at this time of year.


While the months of supply has trended down in this sector, it remains above five months. This is preventing the same type of price recovery seen in other sectors. On a year-to-date basis, the benchmark price remains similar to levels recorded last year.


REGIONAL MARKET FACTS


Airdrie


February sales reached new record highs for the month.

The largest gain in sales occurred in the $400,000 - $500,000 price range. New listings also increased, but the sales-to-new listings ratio remained elevated at 71 per cent and the months of supply dropped to under two months in February. This is the tightest level seen since 2014.


Persistent sellers’ market conditions have resulted in further price gains in the market. The benchmark price has trended up for the past eight months and, as of February, it is over seven per cent higher than last year’s levels. Most of the price growth has been driven by the detached sector.


Cochrane


Cochrane sales more than doubled compared to last February. This represents the strongest February ever recorded for the town.


New listings also rose for the month, but it was not enough to cause any substantial change in inventory levels and the months of supply fell to below two months. This is the lowest months of supply for February seen since the record low in 2006.


Tight conditions supported price growth in February, as the benchmark price rose to $413,700, a four per cent increase from last year’s levels.


Okotoks


New listings have been trending up from the lows seen at the end of 2020, helping to support a significant improvement in sales in February. February sales reach levels not seen for the month since the record high in 2007. 

Inventory levels remain exceptionally low relative to sales and the months of supply dropped below two months. Like other towns around Calgary, the sellers’ market conditions caused prices to trend up. In February, the benchmark price reached $442,600, nearly five per cent higher than levels recorded last year.




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Are We Victims of Renovation Hype?


Home renovations is an astounding $326.1 billion annual industry in the United States, with no signs of its growth stopping. Consumers constantly hear the message that their houses somehow fall short…which begs the question: Do our houses really need that much work or are we simply victims of reno hype?

Why Do You Want to Renovate?

First, consider your motives. Have you bought into what someone else thinks of your home? Do you really need stainless and quartz when your black appliances and granite work just fine? While the television remodeling shows are entertaining, they shouldn’t be considered the last word on your own remodeling decisions.

Will Renovations Detract?

Renovations typically aim to modernize, and modernization tends to erase historic details. Also, changing one room often leads to the next…and the next, as redoing one makes the adjoining room look dingy. This can create an artificial need to ‘improve’ more spaces.

Is Renovating Cost Worthy?

Assess your home objectively, and ask if the cost truly makes a substantial difference or if it simply increases your debt. Get at least three estimates from qualified professionals.

Is There Anything Wrong With Your Home?

Critically think about your home’s functionality: Does it heat or cool when needed? Do the roof, doors, and windows keep out the elements? What has broken due to age or normal wear and tear? The answers to these questions will guide you to necessary replacements versus falling under the spell of renovation hype.

Which improvements should you consider?

Some renovations do hold high return on value, increasing the worth of your home. Improving smart technology features, regardless of your home’s age, will mean increased functionality for you and will also attract buyers. Yes, kitchen and bath remodels tend to show a high return on investment but think about doing a moderate renovation to save money while still making the space more usable.

Sometimes, the least noticeable – and most practical – improvements mean more in the long run, such as installing energy efficient doors and windows, or a new roof.


Not intended to solicit buyers or sellers currently under contract. The article was revised from HOUSEOPEDIA’s original article.


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Watering Wisdom: Tips for a Lush Landscape on a Budget
 

It’s more than a nice feeling to have a lush lawn and showy flower beds — it’s a solid investment in your home. In fact, according to some estimates, landscaping accounts for about 18 percent of the value of your home. But it’s important to be savvy about watering so that your investment doesn’t go down the drain. How much should you water and how often? What methods will cause your landscape to thrive without costing a fortune?


Invest in an irrigation system.  Having a professionally designed and installed irrigation system beats dragging the hose and sprinkler around the yard. A professionally designed system will cover your lawn and beds uniformly. Set the control panel to water at the proper time of day for the correct length of time and at regular intervals throughout the week. You’ll waste far less water, save money and save yourself a lot of time.


How long to run the system. How much water do your plants need? Too much water can harm the plants, but water too lightly and you risk your plants and lawn having shallow roots that make them vulnerable to summer heat. Plant roots wick the water up when the first four to six inches of soil becomes saturated. Know your soil. Sandy or loose soils drain water away more quickly than clay-based soils.  Set each sector of your system to run long enough to hear a slight squish of wet soil when you step on it.


How often to run the system. Determining factors include the season of the year and in which part of the country you live. During the winter months in northern states with snow, no watering is needed. In southern states the root systems still need moisture in winter, so if you don’t get regular rain, water a few times a month. During the growing season of spring and into summer, especially when the heat cranks up, schedule your system to run just as the plants are starting to wilt but don’t allow the plants to go into distress. In southern climates, you will likely water more frequently, especially in the dog days of summer, but those states also are prone to having water restriction schedules, so be mindful of the rules to avoid a hefty fine.


Best time of day to water. Watering overnight can cause the lawn to stay wet too long and cause disease. Watering during the heat of the day means much of the water evaporates before it can do any good. The best time to water is around sunrise.


More tips and tricks.  Mow your grass high. Cutting too low weakens the root system and stresses the grass in summer heat. Be sure to periodically check your system by running shorter test cycles. Broken sprinkler heads can send water straight up or out into the street. Watch to make sure the spray patterns are providing even coverage with no gaps. Adjust heads or call your installer for help. Finally, layer your planting beds with three to four inches of quality mulch to preserve moisture and insulate root systems from winter cold and summer heat.


Not intended to solicit buyers or sellers currently under contract. 


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5 Tips for Creating a Butterfly Garden in Your Backyard
 

There’s something magical about the beauty and delicacy of butterflies. Wouldn’t it be fun to have them as frequent visitors around your home? Here’s how to invite them into your yard.


1. Learn your butterflies. Research local websites for butterfly field guides highlighting types native to your area. Pay close attention to the types of plants that will attract them. What they like to feed on and what they like to lay eggs on may differ so make sure your garden offers both.


2. Placing your butterfly garden. Choose colorful, nectar-rich flowers and plant them near a window for easy viewing. Pro tip: What attracts butterflies also attracts bees so you may want to avoid patios or other outdoor seating areas.


3. Water. Butterflies get much of their hydration from nectar, but they still need water. Keep your bushes hydrated, misting them so that water beads on the leaves. Small puddles of standing water also help butterflies find moisture.


4. Sun and shade. Steady sunshine is important for butterflies, but a good balance of sun and shade is ideal. In the early morning, butterflies will often find a sunny place to let the sun warm them. In the heat of a summer day, shade is needed from temperature extremes.


5. Wind protection. Situate your butterfly garden with enough shrubbery and a solid fence or wall next to it to supply a wind shield. Because they are so delicate, butterflies can be carried off in a stiff wind.

 
Not intended to solicit buyers or sellers currently under contract.
 
 
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Small Space, Big Style: Kitchen
 

If your kitchen is on the small side, fear not. You, too, can have big style in a small space. With a focus on function, careful material choices, and a little creativity, your dream kitchen is possible — regardless of size. Check out our top five design solutions for tiny kitchens.


Stay focused. When space is limited, make meal preparation — the No. 1 job your kitchen — the focus of your redo. Look for tailor-made appliances, such as reduced-sized refrigerators and stoves, and single-basin sinks. No island? No problem. Consider a butcher block-topped cart that can be rolled out when needed and put away when not in use. Maximize storage by using drawers instead of cabinets.


Keep things clear and open. When counter space is at a minimum, it’s important to keep clutter at bay. Store what you can in drawers. Overhead cabinets may offer storage, but they also can make the room feel closed off. Consider replacing the cabinets with open shelves. Neatly stacked dishes can look surprisingly stylish. If that’s not an option, replace the cabinet doors with glass fronts. The glass works as a visual trick to keep things open and light. You can use this same trick with tables and chairs—the clear versions create the illusion of openness.


Pick great materials. You may discover you can afford options that might be cost prohibitive in a larger kitchen. Great granite? Yes, please. Beautiful hardwood floors or a top of the line faucet? Check. Don’t be afraid of going bold with splashes of color. Be sure to select materials that coordinate with each other. Because your space is smaller, any clashing will be obvious.


Brighten and lighten it up. By keeping your color palette light, adding great lighting, and using reflection to bounce light around the space, your small kitchen will feel more open. A tile backsplash is a great opportunity to add reflection, but mirrors and shiny appliances also work. Include a variety of light sources in your kitchen, from ambient to task lighting. Consider including pendants and other overhead lighting to replace standard builder-grade fluorescent lights. This change alone will make a huge difference. Add unexpected touches, such as under-cabinet lighting.


Go high, go low. Drawing attention to the height of the room will help your kitchen from feeling too closed in. If you have windows, consider hanging window treatments near the ceiling to draw the eye up. And don’t forget about the floors. A beautiful hardwood or cork is a great choice. If these are out of your budget, check your options in vinyl or laminate.


Not intended to solicit buyers or sellers currently under contract. 



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Spring Forward With Lush Landscaping
 

Springtime is peak season for listing your home for sale. A well-manicured lawn and colorful landscape provide a luring setting for buyers on the hunt so let’s roll up our sleeves and get to work.


Plan for a springtime sale by prepping the landscape the previous fall. Clear any clutter from the yards, trim back shrubs and tree limbs and clean out gutters. Rake the lawn and flowerbeds. In February or March, apply a pre-emergent weed killer. Pro tip: Organic versions are available.


The lawn is fundamental to a good-looking landscape, so when spring arrives, keep it healthy. Aeration improves air supply to roots. If the grass is thin in areas, reseeding can help, but take a sample tuft of your grass to a nursery or grass farm and get an exact match. Apply fertilizer and weed control . Depending on how much snow and rain you received over the winter, be sure that the grass is well hydrated and green. Of course, keeping it well trimmed and groomed is essential.


Showcase your flowerbeds. In spring, lots of blues, reds and yellows bring vibrancy. Plant varieties that have a long blooming period, spring into summer.  If you are still trying to sell by fall, yellows and oranges accompanied by pumpkins usher in cooler weather and the coming holidays.


Natural stone edging around flowerbeds creates a transition from lawn to beds. Be sure to lay a good three- to four-inch layer of quality mulch in the flowerbeds to insulate plant roots from seasonal temperature extremes and to retain moisture in the soil.


Run your sprinkler system manually for just a couple of minutes per station. Make sure each area is getting good coverage. Are all sprinkler heads rising to full height? Clear any turf that may have grown over the heads or clogged the nozzles. Look for leaks and redirect heads spraying onto paved areas.


Trim trees, plant new ones. If mature trees have low hanging, unruly limbs, trim them back for a neater and more expansive look to the property. If you have large, blank areas of lawn, consider planting a new tree.


Keep hoses and other implements in the garage or an attractive garden shed in back to keep the yard tidy.


Not intended to solicit buyers or sellers currently under contract


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Pay Back Time: Which Home Renovations Are Worthwhile?
 

When contemplating resale, homeowners often wonder what renovations will give them more resale bang for the buck. Let’s take a look at what renovations pay off and some that don’t.


Focus on priorities. Although your house is an investment, first and foremost it is your home. Don’t view renovations solely with dollar signs in your eyes. Think in terms of how a renovation will improve your quality of life as you continue to live there. Take return on investment into consideration, but also think of the pleasure the renovation will bring.


What renovations bring the most value? Renovation rarely reap full pay back upon resale. A smart remodel will add value, but usually not equal to the expense of it. You might automatically think of a sleek new kitchen or bath as the things that bring the best value. Although worthwhile, there are some less expensive renovations that make good selling points for later resale.


For example, adding attic insulation. It might be out of sight, out of mind, but pays off in energy savings. So does replacing old, inefficient heating and air equipment. Toss in energy rebates and tax credits by various levels of government and you get a payback on some of your costs right away. Also, telling buyers that the HVAC system is practically new may relieve a fear of theirs. Adding an automated sprinkler system can save on watering bills through efficiency and also ensure a healthier, more appealing landscape. Improving street appeal is a big plus. A handsome new garage door and front door can also do wonders.


Room renovations. What pays off best? Think about what room remodeling project would bring you the most pleasure. Most often, the kitchen is the answer. A tremendous amount of family time and entertaining is spent in the kitchen and adjoining dining areas.


A good kitchen remodel, with updated counters, cabinets and appliances, pays off in quality of life and resale. Again, you probably won’t recoup all of your financial investment, but it will elevate the overall appeal of the home and perhaps be the deciding factor for buyers.


Bathrooms, particularly the master bath, is the next room renovation with the highest payoff. But another interior renovation to consider is the opening up living spaces in older homes that are more compartmentalized. If you watch home remodeling TV shows, you know that knocking out walls can greatly improve a home’s livability. Consult with a reputable contractor to make sure any walls you want to remove aren’t load bearing.


For warmer climates: Built-in pools. Pools provide lots of family fun, but not much resale return. The addition of a pool may narrow your market among buyers because of the extra maintenance and expense. Parents with very young children also may be skittish of pools for safety reasons.


Not intended to solicit buyers or sellers currently under contract.The article was revised from HOUSEOPEDIA’s original article.


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Homeowners Associations: Love ‘em or Hate ‘em?
 

Homeowners associations provoke strong emotions. Depending on who you ask, they are viewed as either the neighborhood’s protector of home values or, in some cases, a small group of residents who take community rule enforcement to the extreme. What is an HOA and why do they exist?


Simply put, an HOA is a private regulatory organization for a neighborhood development. Buying a home in a neighborhood governed by an HOA means that membership is mandatory. An HOA transfer fee is typically charged when a new owner buys an existing house in the neighborhood. These fees are meant to compensate the HOA for its time and expense in assisting with the home’s purchase and sale. For example, the HOA may have to provide copies of the development’s governing documents, HOA financial statements, or documentation of outstanding dues, fees, or HOA liens on the home.


The HOA is created by the developer of the subdivision and for an initial period, while the neighborhood is still being built, the HOA’s directors are the developer and a few elected residents. As the neighborhood is completed, the developers are replaced entirely by elected homeowners.


The HOA has covenants and declarations defining its existence as well as rules and regulations for homeowners. Rules govern things like parking, sheds and other out buildings, animals, landscaping, and acceptable colors a home may be painted.  Violations may result in fines. Homeowners pay monthly or annual dues to finance the maintenance of common areas such as parks and pools. HOA’s may have rules for conducting a home business, especially if it involves shipping and receiving or affects neighborhood parking.


An HOA also may have a reserve fund in which a portion of dues is set aside for long-term repairs and improvements. A special assessment may also be charged for emergencies, such as storm, fire or flood damage not sufficiently covered by insurance.


The regulatory power of the HOA is what often provokes resentment. Critics say the HOA infringes on their rights as homeowners to do with their property as they please. Such critics cite the overzealous actions of some HOAs to bully homeowners over minor rule infractions.


Supporters of HOAs argue that the associations prevent homes from becoming run down, which, in turn, protects home values. Supporters also say association rules help keep home prices at their highest by requiring tidy yards and common spaces, and prohibiting unlicensed commercial activities. Association supporters also like the idea of residents self-regulating rather than having local governments do the job which could lead to even tougher restrictions and bureaucracy.


Setting aside their regulatory functions, HOAs oftentimes also provide the organizational muscle for neighborhood activities, such as holiday gatherings, food truck rodeos, sports tournaments  and other fun events. The HOA is also likely to distribute neighborhood newsletters, which spread the news about local play groups, book clubs and other neighborhood-based organizations.


Love them or hate them, HOA’s are ubiquitous in modern life. Homeowners would do well to learn the rules for their neighborhood and get involved to play a role in guiding the direction of their organization.


Not intended to solicit buyers or sellers currently under contract. 


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Data is supplied by Pillar 9™ MLS® System. Pillar 9™ is the owner of the copyright in its MLS®System. Data is deemed reliable but is not guaranteed accurate by Pillar 9™.
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.