GETTING TO KNOW: LEE QUAILE, BROKER OF RECORD, CHESTNUT PARK WEST
INTERVIEW BY CAI SEPULIS
CHESTNUT PARK WEST WAS LAUNCHED IN SPRING 2018 WITH A CORE OF SIX HIGHLY EXPERIENCED REALTORS. SINCE THEN THE BROKERAGE HAS GROWN TO A TEAM OF OVER THIRTY BROKERS, REALTORS AND STAFF, WITH LOCATIONS IN UPTOWN WATERLOO AND DOWNTOWN GUELPH. RECENTLY, I SAT DOWNWITH THEIR BROKER OF RECORD, LEE QUAILE, TO CHAT ABOUT THE CURRENT REAL ESTATE MARKET AND WHAT WE MIGHT EXPECT GOING FORWARD. WITH OVER THIRTEEN YEARS EXPERIENCEIN KITCHENER-WATERLOO, LEE IS AN UNDENIABLY RELIABLE SOURCE.
HOW IS COVID AFFECTING THE LOCAL MARKET? Early spring showed signs of uncertainty with many people adopting a ‘wait and see’ attitude. But as soon as folks saw that June prices in Waterloo Region and Guelph were holding strong, there was a resurgence of activity. Prices have only gone up since then.
WHY DO YOU THINK OUR LOCAL MARKET HAS REMAINED SO STRONG? Some people were understandably pessimisticin the early stages of the pandemic, but at Chestnut Park West we’ve been extremely bullish on Southwestern Ontario. There are so many factors working in our favour – including a strong and diverse economy, massive investment in development and infrastructure, a well-educated workforce, and more. A quick recovery was always in the cards.
ANY TIPS FOR SELLING YOUR HOME?
Don’t settle for half measures. Make sure you’re working with a responsive and knowledgeable realtor who understands both the market and your goals. The agent you choose should be committed to making sure that your property gets maximum exposure to potential buyers and is professionally and attractively represented wherever it’s advertised.
ANY TIPS FOR FIRST TIME BUYERS?
The best time to jump into the market was yesterday. The second best time is now. Average sale prices year over year in Kitchener-Waterloo from July 2019 to July 2020 have increasedby over 22% – meaning down payments and mortgages are only getting more expensive as time goes by.
BEST PART OF YOUR JOB
I think I can speak for all our realtors when I say that seeing a satisfied client on closing day is the best feeling this industry can bestow.