Real Estate FAQ

The Esposito Team specializes in selling homes, condos and acreages and investment properties in Edmonton, St. Albert, Sherwood Park, Spruce Grove, Stony Plain, Morinville, Beaumont, Leduc, Sturgeon County, Strathcona County, Leduc County and Parkland County.

Learn more about selling >

In 2022, our small team of four agents sold 17x more homes than the average real estate agent in Edmonton did in 2022. We have collectively sold over $450 million of real estate since 2008. We are extremely active Realtors® and have our finger on the pulse of the real estate market in Edmonton and area.

Learn more about selling >

The average days on market for a home in Edmonton in 2022 was 32. Homes listed with The Esposito Team averaged 25 days on market. Our listings sold 28% faster when compared with the average listing in Edmonton and area. Not only did we sell our listings 28% faster, we also achieved an average of 99.8% of list price for our sellers. Less time on the market typically means more money in your pocket when selling.

Learn more about selling >

Our sellers only pay our fee after the home sells. We invest the marketing budget and all listing expenses upfront until your homes sells. While there is no ‘standard’ fee amount in Alberta, the vast majority of experienced Realtors® in Edmonton and area charge the same amount. Our fee is 7% on the first $100,000 and 3% on the balance of the sale price, with half of this amount going to the agent who represents the buyer in the deal. Unlike some of the other agents in town, we do not charge our sellers anything extra for our next-level marketing program that we discuss on this page. Remember, we are not here just to sell your home. Our job is to maximize your sale price and minimize your stress.

While we charge the exact same as most of our competitors, we feel that we offer substantially better value with marketing, expertise and an impeccable 15-year track record that is hard to match.

Learn more about selling >

Yes. Yes. And yes. Far too many sellers hire an agent without proper research just to find out that the agent that they selected lacks experience, work ethic, or both. A great way to find the best Realtor® in Edmonton by searching for and reading Edmonton Realtor® Reviews.

See what our clients say >

Pricing your home properly for a successful sale requires the expertise of a top Realtor®. There are four primary indicators that are crucial in order for us to determine a list price and successful sale price:

Sold Comparables: This tells us what are real buyers actually paying for comparable homes. 

Active Listings: This tells us who we are competing against and which other homes a prospective buyer will be looking at in addition to ours.  

Terminated and Expired Listings: This tells us what real buyers are not willing to pay for a comparable home. Studying this data can save us months of sitting on the market as many of the terminated and expired sellers have already tested the market at a given price point.

Area Expertise: This is where our team shines for our sellers. Specific homes, features and locations are unique and may require further upward or downward adjustments. Our team has sold homes in nearly every neighbourhood in Edmonton and surrounding area which gives us a huge advantage when competing with other listings.

Learn more about pricing your home >

This decision varies greatly depending on the current market conditions. With multiple offers, you typically only get one chance to capitalize on the opportunity. If your Realtor® is not experienced in dealing with multiple offers, you can leave tens of thousands on the table. Bidding wars or multiple offers are complicated and should be handled only by an agent experienced in those situations. Pricing your home to encourage multiple offers can be advantageous since it encourages buyer competition, higher prices and stronger offer terms. However, pricing your home too high can lead to extended days on market, multiple price reductions and the risk of your home becoming a ‘stale’ listing with little showing action.

Learn more about pricing your home >

While junior Realtors® may place importance on tax assessment or bank appraisals, experienced Realtors® like us do not. 

A municipal tax assessment is not an accurate way in determining the value of a home for sale. In fact, it is the least accurate way of determining the value of a home for sale. Think about it - the municipality has not been in your home and thus cannot determine the layout, recent updates, condition, design or location factors that can significantly change the price. Your annual tax assessment is based on an average home of that size in average condition within a given geographical area. 

A bank appraisal, while detailed, is typically used for funding or equity purposes. Appraisals are not completed for the purposes of selling your home and thus usually don’t take into account competing active listings, current market conditions, future market trends and marketability to current buyers. 

 A proper market evaluation only by a seasoned veteran agent is highly recommended.

Nothing! We are a full service real estate team and provide exceptional marketing for all of our listings without charging our sellers anything extra beyond our normal fee.

Learn more about marketing >

For most people, the answer is yes. Few families can qualify to carry more than one mortgage at a time. However, it is very important that you speak with one of our Mortgage Professionals in depth about this. Besides financing, it is almost always advantageous to sell your home before shopping for a new one.

In most cases, the seller must provide a current Real Property Report with municipal compliance to the buyer of a home. The term ‘current’ does not refer to time, but rather means that the report reflects the current state of the property. This a typically a 2 step process:

A Real Property Report is an approved survey plan of your property. The RPR usually includes the house, garage, deck, shed, fence, property boundaries, utility right of ways and any other improvements or structures on the property. This is conducted by a survey company and usually costs $500-800. 

 Once you have your Real Property Report completed, the next step is to submit the RPR to the municipality for a compliance letter or stamp of compliance. This can take anywhere from 2-14 days depending on the time of year. If there are non-compliant or non-conforming issues, we need to address them or negotiate them into the contract.

In some cases, the seller can purchase Title Insurance for the buyers as an alternative to a Real Property Report with municipal compliance. Title Insurance is an insurance policy for the buyer that may protect against non-compliance or non-confirming issues that would have otherwise been discovered if an RPR or municipal complaince had been done. Title Insurance is becoming increasingly common for sellers to offer. An expert Realtor® can discuss the pros and cons of either option with you.

In Alberta, both the listing agreement and purchase contract state that a seller must disclose any lack of permit only if they are aware of a missing permit. Unless specifically asked, sellers are not required to provide copies of permits to buyers. For example, when selling an older home, the seller is not required to go out of their way to track down the original permits for basement development, deck, garage and other items. An expert Realtor® can guide you through what you are required to disclose and provide to a buyer.

Condo documents are a large part of a buyer’s due diligence process when purchasing a condo. Owning a condo is essentially like owning a share of a business. In Alberta, it is the seller’s responsibility to pay for and provide this set of documents to a prospective buyer. Condo documents can include dozens of important documents such as bylaws, reserve fund study, financial statements, meeting minutes and any pet or occupancy restrictions. A full set of condo documents can usually be purchased from your management company or their online portal. We recommend ordering these once your condo is listed. You can wait until you have a pending offer before ordering these, however most management companies charge a rush fee that is 2x the normal price.

We have the ability to advertise a preferred possession date in a listing so that buyers are aware of the seller’s preference. The normal possession timeline is 30-60 days from the time of offer. But, as we like to say: everything is negotiable! If you don’t want to give up possession for another 90 days, we can probably make that happen. If you want to give up possession immediately, we can speed things up to 19 days or sometimes even quicker if the house is vacant as long as the buyer is on board. These details are part of the offer process and negotiation.

Century 21 Masters is a real estate brokerage in Edmonton and St. Albert. They have over 100 agents across 4 office locations in Edmonton and area. Century 21 is one of the most recognized real estate brands in the world and is one of the top real estate brands across Alberta. The Esposito Team has been the #1 team at Century 21 Masters for 13 years in a row focusing on serving sellers, buyers and investors.

Learn more about selling >

A seller’s market is where the current balance of the supply and demand of homes favours those looking to sell versus those looking to buy. A seller’s market usually means higher home prices, less homes to choose from, less days on market and more competing offers. When demand for homes outpaces the supply for homes, we refer to it as a seller’s market. While Edmonton rarely finds itself in a seller’s market, there are specific areas that are known to be easier to sell in with less days on market.

A buyer’s market is where the current balance of the supply and demand of homes favours those looking to buy versus those looking to sell. A buyer’s market usually means lower home prices, more homes to choose from, more days on market and less or no competing offers. When supply for homes outpaces the demand for homes, we refer to it as a buyer’s market.

We offer detailed staging consultations for all of our listings so that we can ensure your home presents well for buyers. Here are the three most important things to do to ensure your home presents well for buyers: 

Decluttering

A cluttered space makes the home feel smaller, darker and less comforting for buyers. The more stuff you can remove from your home, the better. 

Depersonalizing

Buyers want to visualize themselves in your home. Removing personal items, family photos and anything off putting or offensive greatly increases your home’s appeal when buyers are coming through.

Cleaning

This is the most obvious selling tactic, yet is the most overlooked and ignored. We highly encourage our sellers to go overboard with cleaning your home before showings. Buyers want to walk into a spotless, odourless and sparkling home. A sparkling clean home shows pride of ownership and gives buyers much more confidence in moving forward with an offer.

Brightness - We’ve never heard a buyer say ‘This house is too bright’. Usually, the opposite is said. When preparing your home, one of the cheapest updates you can do is to change your current light bulbs with higher wattage bulbs of at least 100W. Your home also looks best and most cohesive when all bulbs in your home are the same hue. Buyers prefer neutral white or soft white as opposed to daylight or cool white. Simply changing light bulbs can provide a massive impact for under $100. 

Neutral paint - There’s nothing worse than a buyer getting turned off by paint colours. Tacky feature wall? Neon green bedroom? Patterns from the 90’s? Buyers love neutral paint colours, period. When buyers are searching for homes, they are looking to make the home their own. They aren’t looking to move into your space. Spending a few hundred dollars on neutral paint not only makes your space look brighter, it also allows buyers to visualize themselves in the home. Dollar for dollar, updated neutral paint provides sellers with the best return on investment of any home improvement. 

Pet and child damage - When buyers see wear and tear, they actually see dollar signs. Every part of your home that has pet or child damage will be seen as a negative by buyers and used against you in negotiations. In most cases, we strongly suggest repairing or replacing the parts of your home that are damaged by pets or children.

Curb appeal - Nothing is worse than a buyer walking up to your front door with a disappointed look on their face. Buyers already formulate an opinion of your house when they see the exterior picture online or when they pull up in front of your home. Ensuring your front yard is clean, maintained, lawn cut, snow shoveled and leaves raked can have a major impact. 

A clean home - None of the above items matter if your home isn’t absolutely spotless. We can’t stress this enough. The #1 thing that will make a buyer walk out of a showing is a dirty home. A clean home shows buyers that you respect and take care of your home and can be a big factor in a buyer deciding to write an offer. 

Bonus: Kitchen and bathrooms - An updated kitchen and bathroom in a home are, by far, the most common items on a buyer’s ‘want’ list. While these are two of the most expensive improvements you can update in a home, a properly improved kitchen and bathroom can put your home at the top of a buyer’s list.

The Esposito Team offers guidance on 3 types of staging solutions:

Staging consultation is essential for selling for top dollar and is included for all of our listings.

Virtual staging increases interest without lifting a finger and is included for our vacant listings.

Professional staging provides maximum impact and completely transforms your home. Fees apply.

Home staging costs in Edmonton varies depending on the size of home, how many rooms, length of commitment and most importantly staging quality. Staging costs in Edmonton vary from $500 per month to $5000 per month. Staging with one of our recommended stagers can help you sell for thousands of dollars more and in far less time. However, hiring a poor staging company with cheap furniture will get you less money and keep your home on the market for longer.

Virtual staging can be a powerful tool for sellers to use. The Esposito Team includes virtual staging for all of our vacant listings. We find that vacant homes that are virtually staged get up to 2x the amount of showing traffic and helps buyers visualize the potential of your home.

Learn about virtual staging >

A listing agreement is an agreement between a seller and the real estate brokerage they are hiring to sell their home. The agreement specifies which designated agent(s) are representing you, list price, length of listing and many other details regarding the listing. Listing agreements are typically entered into for 4-6 months depending on the Realtor® and property type.

Yes we do. Sherwood Park, St. Albert and Morinville are three of our top communities we serve outside of Edmonton. We also sell a significant number of properties in Fort Saskatchewan, Stony Plain, Spruce Grove, Leduc, Beaumont, Strathcona County, Sturgeon County, Parkland County and Leduc County.

Regardless of what a seller chooses to offer a buyer’s agent for commission, almost all buyer’s agents in Alberta have a service agreement with their buyer clients for the common amount of 3.5% on the first $100,000 plus 1.5% on the balance of sale price. This is usually paid for by the seller of whichever home they buy. While not recommended, sellers can offer a lower amount to a buyer's agent. When offering a lower amount to a buyer’s agent, sellers must be aware that this may deter Realtors® from showing your home and may encourage Realtors® to push their buyers to purchase one of the competing listings that are offering a common or higher commission amount. Our philosophy is that we want to do everything in our power to encourage showings and encourage strong offers, which is why we almost always offer this common commission amount to buyer’s agents.

Residential real estate law is a highly specialized field in law. Legal fees to sell a home in Edmonton can range from $1000 to $2000. It is our opinion that sellers should hire an extremely seasoned and reputable real estate lawyer in Edmonton. An outstanding real estate lawyer is one that has completed hundreds or even thousands of real estate transactions. We only recommend lawyers that are highly experienced and specialize in residential real estate law. Our team works with and can recommend some of the best real estate lawyers in Edmonton and area.

Average detached house price in Edmonton in 2022: $433,750

Average townhouse price in Edmonton in 2022: $230,000

Average condo price in Edmonton in 2022: $172,500

The Edmonton real estate market can be very seasonal. From January to July, the market overall can be up to 4x more active than in the August to December period. This means that more buyers are looking to buy homes during the first half of the year. With more buyers actively looking, selling your home during the first half of the year can be beneficial. However with more buyers also comes more competing listings. You may find that you are competing with dozens of comparable properties in your area which may turn out to be a negative for your selling timeline and for your price. 

Selling your home in the latter half of the year usually means less buyers are looking, but there will be far less sellers for your listing to compete with. Additionally, the September to December window may be seen by some as an inconvenient time to move, so buyers shopping in the latter half of the year tend to be far more serious and of higher quality. 

Your property is unique, so we recommend seeking guidance from a seasoned and experienced real estate agent.

Learn more about selling >

There are many reasons why a house may not be selling, but almost always it falls under one or more of these three reasons:

Your home doesn’t show well - Almost every buyer begins their home search on the internet. If your photos, virtual tour or video aren’t stunning, buyers won’t even bother booking a showing. Buyers want a clean and bright home that presents well. We recommend our sellers go overboard with ensuring the property is spotless and in tip top shape when preparing for showings. Remember, you only get one chance to impress a buyer. If you miss the opportunity, the buyer will move on and write an offer on a house down the street. 

Your Realtor® isn’t doing their job - It may be hard to believe, but not all of Edmonton’s 4200 real estate agents are top-notch. Houses don’t just sell themselves! Beyond placing your property on the MLS and having a lawn sign, what else has your Realtor® done to expose your property to as many buyers and buyer’s agents as possible?

Your price is too high - Any house will sell for the right price. Houses are most attractive to potential buyers in the first 60 days of a listing. After that, buyers start to wonder what’s wrong with the house - even though it could simply be overpriced. Pricing a home properly right at the outset is crucial. Statistically, the longer a home stays on the market, the lower the price it will eventually get.

In the standard Alberta Listing agreement, there is an early termination clause which outlines the requirements for firing your agent or ending the agreement early. Many listing agreements have an agreed upon amount for the seller to pay in the event that they change their mind about selling early. However, once the listing agreement has expired, there is likely no further obligation if you choose to switch Realtors®. If you are unhappy with your Realtor®, it is important to always discuss this with them first before making any decisions.

No you don’t. You can buy a property without the guidance of a buyer's agent. Yes, we are biased, but there is no reason not to hire an expert Realtor to guide you through the largest purchase of your life. All four of us were born and raised in the Edmonton area and have years of experience helping families buy homes, condos, acreages and investment properties in Edmonton, St. Albert, Sherwood Park, Spruce Grove, Stony Plain, Morinville, Beaumont, Leduc, Sturgeon, Strathcona and Parkland.

Learn more about buying >

Yes. Before we even start discussing homes, neighbourhoods and amenities, we need to determine your budget. The first step to the buying process is to get a free pre-approval with one of our top mortgage specialists in Edmonton. Usually this can be done in under 20 minutes over the phone. We have outstanding specialists and mortgage brokers available at all major lenders and banks. Obtaining a free pre-approval before starting to shop for homes will help by:

1) Ensuring that you are shopping at a price point that is in line with what the bank will lend you.

2) Getting an interest rate hold for 90 days in the event that rates increase while you are shopping for a home.

3) Help us negotiate a better price for you by making your offer look stronger than other competing offers.

Our team requires all of our buyers to be pre-approved before shopping for homes.

Just like sellers have their own agent representation, you need a top buyers’ agent in your corner to fight for your best interests. Buyers in Alberta typically do not have to pay anything to their buyers' agent. The seller takes care of the fees for both agents.

Learn more about buying >

Far too many buyers hire an agent without proper research just to find out that the agent that they selected lacks experience, work ethic, or both. A great way to find the best Realtor in Edmonton by searching for and reading Edmonton Realtor Reviews.

See what our clients say >

Negotiating such a large purchase is complicated. It is just as much an art as it is a science. The good news is that this is not the buyer’s job. Successfully negotiating a purchase requires the service of an expert Realtor with hundreds of deals under their belt. Determining the proper price for a home requires extensive research and strong area expertise from your Realtor.

The final price of a home is dependent on many factors such as the home’s list price, condition, comparable sales and your Realtor’s experience. Negotiating down from list price can depend on how the seller has decided to price their home. Some sellers will intentionally underprice their home as a strategy to get multiple offers and have the price increase. Other sellers will overprice their home, which leaves more opportunity to negotiate a lower price for the buyer. In hot seller’s markets, many homes will sell at or above list price. In slower buyer’s markets, some sellers can drop their prices anywhere from $5,000 to $20,000 depending on the situation. Additionally, negotiation is not all about price and can involve terms, conditions, dates and disclosures. Each property and situation is unique and should be discussed with your Realtor.

For most people, the answer is yes. Few families can qualify to carry more than one mortgage at a time. However, it is very important that you speak with one of our mortgage professionals in depth about this. In some cases, shopping for a new home while your current home is on the market can turn your buying experience into a disappointing disaster. All situations are unique so we suggest speaking to an experienced Realtor and devising an appropriate plan.

Yes! Showhome salespeople work for the builder - not you! Far too often we see new home buyers get taken advantage of on crazy prices and failed promises. We’ve helped hundreds of families buy brand new homes from builders and have always negotiated better terms, upgrades and pricing for our buyers!

Learn more about buying a new home >

When buying a home, the three most significant costs are:

1) Your down payment. Speak with one of our outstanding mortgage professionals to find out what this needs to be.

2) Your legal fees. We suggest budgeting $2000 for a real estate lawyer.

3) Your home inspection. We suggest budgeting $500 for your home inspection.

Beyond these items, you may need to budget additional funds for moving costs depending on how you choose to complete the move to your new home.

Learn more about buying >

The minimum down payment for most buyers is 5% of the total purchase price. Some buyers may be required to or may choose to have a higher down payment like 10% or 20%. In Canada, mortgages with down payments less than 20% will be required to include CMHC fees. These premiums are incorporated into your mortgage payments and are not due in a lump sum. Buyers that have a down payment of 20% or greater do not have to include CMHC fees and thus can save money monthly.

Learn more about buying >

In most cases, the seller must provide a current Real Property Report with municipal compliance to the buyer of a home. The term ‘current’ does not refer to time, but rather means that the report reflects the current state of the property. A Real Property Report is an approved survey plan of your property. The RPR usually includes the house, garage, deck, shed, fence, property boundaries, utility right of ways and any other improvements or structures on the property. A municipal compliance letter accompanies an RPR and notes any non-compliant or non-confirming issues that need to be navigated before or during negotiations.

In some cases, the seller can purchase Title Insurance for the buyers as an alternative to a Real Property Report with municipal compliance. Title Insurance is an insurance policy for the buyer that may protect against non-compliance or non-confirming issues that would have otherwise been discovered if an RPR or municipal compliance had been done. Title Insurance is becoming increasingly common for buyers to accept. An expert Realtor can discuss the pros and cons of either option with you.

In Alberta, both the listing agreement and purchase contract state that a seller must disclose any lack of permit only if they are aware of a missing permit. Unless specifically asked, sellers are not required to provide copies of permits to buyers. For example, when selling an older home, the seller is not required to go out of their way to track down the original permits for basement development, deck, garage and other items. Additionally, if there are no permit disclosures by a seller, the buyer may assume that all required permits that the seller is aware of are indeed in place. An expert Realtor can guide you through what a seller is required to disclose and provide to a buyer.

Yes, and you should. In fact, we recommend a home inspection on virtually all of our buyer purchases including brand new homes from builders. A home inspection in Alberta usually costs around $500 and is a small price to pay for peace of mind going forward. A home inspection is not a pass or fail grade. Instead, you are hiring a home inspector to give their expert opinion and analysis on every aspect of the home. Buyers are primarily hiring a home inspector to find any major or deal-breaking issues with the home that may cause a buyer to walk away from the purchase. The best home inspectors will also leave you with a list of 20-30 maintenance items or minor deficiencies with the home so that you are aware of them and can address them accordingly after you move in.

Alberta is unique in the sense that ‘possession’ does not necessarily take place at noon on closing day. In Alberta, possession is triggered when the seller’s lawyer confirms receiving funds from the buyer’s lawyer. If lawyers expedite money transfer on the morning of possession day, we may be able to pick up keys as early as 11am. If there are any delays with lawyers, lenders, banks or insurance companies on possession day, we may not be able to pick up keys until as late as 4pm. With all this being said, in most cases, buyers are able to receive keys in the early afternoon on possession day.

Items included in condo fees are completely dependent on the style of condo, included amenities and state of the complex. Condo fees for apartment style condos in Edmonton frequently include water, sewage and heat. Owners of apartment style condos are usually responsible for their own power, cable and internet. There are also many condo complexes in Edmonton that do not include any utilities. Your Realtor will be able to identify which items are included in the condo fees of a particular complex prior to writing an offer.

After an offer is accepted, the buyer must provide a deposit to be held in trust until possession. For most homes, this is usually $5,000-$15,000. A deposit must be certified funds such as a bank draft. This amount is the first part of your down payment. For example, if your total down payment is $22,000 and you give a $10,000 deposit, then you’d only have to bring $12,000 to your lawyer for the remainder of the down payment later on. If the financing and inspection conditions go well, the deposit is forwarded to your lawyer to meet up with the rest of your down payment. If the conditions do not go well and the buyer fails to waive conditions, the deposit is fully refundable. The seller's brokerage will send you the bank draft back and we can go find you another house immediately.

The normal possession timeline is 30-60 days from the time of offer. But, as we like to say: everything is negotiable! If you don’t want possession for another 90 days, we can probably make that happen. If you need possession immediately, we can speed things up to 19 days or sometimes even quicker if the house is vacant. These details are part of the offer process and negotiation.

Residential real estate law is a highly specialized field in law. Legal fees to buy a home in Edmonton can range from $1000 to $2000. It is our opinion that buyers should hire an extremely seasoned and reputable real estate lawyer in Edmonton. An outstanding real estate lawyer is one that has completed hundreds or even thousands of real estate transactions. We only recommend lawyers that are highly experienced and specialize in residential real estate law. Our team works with and can recommend some of the best real estate lawyers in Edmonton and area.

Yes. The best Realtors in Edmonton have access to about 3x the amount of information that the general public does online. We also have years of experience in finding neighbourhoods that are great for families from all walks of life. Rather than you doing the work, we can set you up on an email search to ensure that we don’t miss any new listings or price reductions.

Learn more about buying >

Average detached house price in Edmonton in 2022: $433,750

Average townhouse price in Edmonton in 2022: $230,000

Average condo price in Edmonton in 2022: $172,500

Bank appraisals typically are only required when a buyer has a down payment of 20% or greater. A bank appraisal in this case is not done for the benefit of the buyer, it is done for the bank’s own purposes. If an appraisal is required, most lenders will cover this cost and decide not to pass it onto the buyer. There are some situations where the buyer will be required to pay for this appraisal. It is crucial to have these discussions with your mortgage professional well in advance of offering on a home.

We think that you should buy a home at the time that is best for you and your family! However, different challenges with buying happen at different times of the year. A spring market (Jan-June) typically comes with more homes on the market which means more selection for a buyer. Buying in a spring market usually also means more competition from other buyers and an increased chance of finding yourself in multiple offers. Buying in the second half of the year has its own challenges. A late year purchase usually means far less buyers to compete with, but also far less selection of homes to choose from. Because of the lower amount of buyers shopping, one can sometimes find better deals in the later half of the year. Many families prefer to be in their new home and settled by the time the school year starts in September. This also helps drive the seasonality of the market in Edmonton.

Learn more about buying >

Century 21 Masters is a real estate brokerage in Edmonton and St. Albert. They have over 100 agents across 4 office locations in Edmonton and area. Century 21 is one of the most recognized real estate brands in the world and is one of the top real estate brands across Alberta. The Esposito Team has been the #1 team at Century 21 Masters for 13 years in a row focusing on serving sellers, buyers and investors.

No. One of the big benefits of buying a property in Alberta versus other provinces is that there is no land transfer tax province-wide.

In almost all cases, no. Even when GST is applicable, like when buying a new home for example, it is usually included in the advertised price. In Alberta, real estate prices are usually advertised including GST versus price plus GST. 

No you don’t. You can buy a rental property without the guidance of a buyer's agent.

We're biased - but wouldn't you want a top real estate agent to guide you through the largest investment of your life? For 25 years, we've been active landlords in Alberta and BC. The experience with our extensive personal portfolio allows us to give unparalleled first-hand advice about buying and managing investment properties. We are passionate about sharing our expertise across buying, renting and managing investment property for long-term success.

Learn more about buying an investment property >

The three primary types of rental properties in Edmonton are short term, long term, and multi-family investment properties. All three types have their own pros and cons depending on your particular investment goals. We believe the type of investment you choose should be based on how much time you wish to commit to its management and how much money you wish to commit to the investment.

Learn more about buying an investment property >

Revenue generating property is a stable method of income. We love investing in residential real estate because everyone needs somewhere to live and thus demand is always increasing. It is a steady and slow method of investing based on paying down a mortgage over many years. Although a home's value may fluctuate up and down over many years, the rental income and interest rate often remains stable.

Learn more about buying an investment property >

Short term rentals can be the most profitable but require the most hands-on management. AirBnB and VRBO are the two most common vehicles for advertising these types of rentals.  Stays range from 1-30 days and rates are quoted on a nightly basis. They require constant cleaning services and restocking supplies.

Long term rentals range from 6 months to 5 years. They require the least amount of management and are often supplied unfurnished. Lease agreements normally average 1-2 years. This type of rental may offer a lower rate of return when compared to short term rentals but will require the least amount of active management. This is the most popular form of rental investment and it is ideal for those who do not reside in the City where the property is located.

Multi-family homes or buildings can be a great way to maximize your ability to generate revenue. They often rent every square foot available within the building while reducing overhead. Snow removal, grass maintenance, building managers and caretakers are usually associated with a multi-family building. Typically having more units per building increases the cashflow potential of the property. The largest barrier to multi-family investing is financing. The majority of these multi-family buildings in Edmonton cost between $750,000 and $2 million. Buildings with 5 or more units often require commercial financing and extensive inspections for insurance and the lender. Buying these types of properties can require pooled capital and multiple investors.

Learn more about buying an investment property >

Apartment buildings and multiplex buildings in Edmonton can be an excellent investment. They can range from a simple 4-plex at $750,000 up to a 30-unit complex that approaches $3 million. Much of the cost of an apartment building is based on CAP rate, income potential, location, property condition and future land potential. These are often complicated investments and require the expertise and guidance of a seasoned real estate agent.

Condos are a form of investment where a landlord rents a condo unit within a building with common areas. The largest benefit to owning this type of rental is that the exterior maintenance is handled by the condo corporation or property management company. One downside is that condos have monthly condo fees which reduces your cash generating potential. Condos in Edmonton can be the perfect investment for those who live outside of Edmonton and want to take a hands-off approach.

Learn more about investing in Edmonton >

The secret is out - Alberta is the place to be in Canada. Alberta is a very appealing province for people to move to. The cost of living is less expensive especially with lower rental rates, lower house purchasing costs, lower taxes, no provincial sales taxes and no land transfer taxes. The unemployment rate remains very low and thus we have seen a major net migration of people moving into Alberta. 

Ontario lost 50,000 residents to other provinces this year. 73% of those leaving Ontario chose to move to Alberta. We believe that Edmonton has amazing untapped potential for real estate investors.

Learn more about investing in Edmonton >

St. Albert and Sherwood Park can make excellent investment opportunities. Both of these areas have higher purchase prices on average than in Edmonton, however the rent you can ask for is also typically higher. Tenants in Sherwood Park and St. Albert tend to be couples or families which can make for a more secure and long-term tenant. St. Albert and Sherwood Park also provide some of the best schooling and recreation in Alberta which makes them even more attractive to families who rent and want stability. The vacancy rates are extremely low in St. Albert and Sherwood Park which may further justify purchasing a rental property in these communities.

Learn more about investing in St. Albert and Sherwood Park >

One of the big benefits of buying a tenant occupied is that it can help convince your lender that the unit is a viable rentable unit and give you immediate income upon possession. Having a tenant already in place saves the hassle of advertising, showing and screening prospective new tenants. However, when assuming a tenant, you are at the mercy of the type of tenant in place that the previous landlord has selected. Assuming a tenant also means you are assuming all of the existing terms within the current lease. As a landlord, you may prefer to go through the screening process from scratch in order to guarantee that you are comfortable with the tenant. This also allows the landlord to formulate their own rules and terms when accepting new tenants.

You can evict your tenant in Alberta if there is a ‘Substantial Breach’ of the lease agreement as defined by the Residential Tenancies Act in Alberta. A Substantial Breach can include non-payment of rent, major physical damage to the home and physical threats against the landlord or other occupants. The Residential Tenancies Act supersedes all terms in the lease. Eviction is often a last resort as it can be an expensive and inefficient process.

The Esposito Team helps with virtually all aspects of buying, selling and investing in rental properties. We give expert guidance before, during and after the purchase based on years of experience in being effective landlords. We do not offer full management services for rental properties.

Capitalization Rate is a method of determining a rate of return when using asking price and net operating income. The rate is reported as a percentage and does not include future potential for price appreciation. A higher CAP rate is better for the investor. Expected CAP rates vary depending where you are in a country and what type of real estate you may have. Long term rentals in Edmonton and area tend to have a CAP rate of 3-8%. Short term rentals tend to have a CAP rate of 8-15%, but they do require significantly more management. CAP rate is calculated by taking the Net Operating Income and dividing it by the price of the investment.

Most of our real estate investor clients in Edmonton and area experience an ROI of 3-15%, not including annual appreciation.

Average rents in Edmonton and area can range significantly depending on area, size, features and condition of the suite. Based on our large pool of investors that purchase with us, average monthly rents in Edmonton are approximately:

Average Edmonton bachelor suite rent: $900/mo

Average Edmonton one bedroom rent: $1,100/mo

Average Edmonton two bedroom rent: $1,300/mo

Average Edmonton three bedroom rent: $1,500/mo

Average Edmonton townhome/duplex rent: $1,800/mo

Average Edmonton full house rent: $2,000/mo

Vacancy rates in Edmonton are approximately 6.5% as of 2023. They are trending downward due to the higher interest environment and in migration of people into Alberta. We have achieved a vacancy rate of virtually 0% over 25 years with our personal portfolio. This is a direct result of specific actions and systems that we share with our investor clients.

The most obvious method is a sign on the front lawn or window which captures drive by prospective tenants. These potential tenants that drive by are likely already familiar with the area. The most effective online sites to advertise your rental property in Edmonton are Facebook Marketplace, Kijiji and Rent Faster. For condo investors, many condo corporations have online boards which have classifieds allowing landlords to advertise their vacancies there. This targets existing tenants within the building looking to improve their living arrangement or current residents that know someone looking to get into the building. A rental ad should clearly outline the cost of rent, utilities arrangement, term of lease and restrictions such as no smoking or no pets.

Legal suites are defined as municipally compliant units that are officially approved to be rented. They have been inspected and approved at the time of construction or renovation. Properties with legal suites are more expensive than those without and come with less risk to the investor. 

Non-Legal suites are very common in older neighborhoods. These are also known as as in-law suites, nanny suites, non-conforming suites. They may not conform due to heating, bedroom window size, fire code or other deficiencies. Renting these types of suites bring on liability issues if something were to happen to an occupant while they were your tenant. Additionally, if there is a complaint filed with The City, they are required to investigate and may require you to convert the suite to current standards on your dime. You may also be required to decommission the non-conforming suite. Homes which have these suites tend to sell for less money since they have not met stringent conditions required by the building authority. We do not recommend renting these suites out unless you have intentions of having them updated to meet today’s secondary suite guidelines.

Yes. Short term rentals, AirBnb and VRBO’s are allowed and are often granted with licenses issued by the City of Edmonton. Short term rentals can be restricted in certain condo complexes in Edmonton. Your Realtor can help guide you in the right direction based on your investment goals.

Specifically for short term rentals, we tend to see the highest returns and lowest vacancy rates in Downtown, Oliver, University of Alberta Area and in central neighborhoods near Edmonton's River Valley.

Learn more about buying an investment property >

Yes, we can help. Flips are what many viewers witness on HGTV. Under our guidance, we have had clients that have made $90,000+ on a single flip project. We have also witnessed other less experienced agents misguide their clients, only to have the client lose tens of thousands of dollars. Our most successful renovator clients rely on us to guide them and advise on every aspect of the flip including searching, buying, designing, renovating, staging, marketing and finally selling the home.

Making money when flipping a home in Edmonton is extremely risky and thus requires the expertise and precision of a top Realtor with experience in this method of investing. While we have had clients make up to $90,000+ in profits from a single flip, this is not always the case. Flips require the purchase of a property that is often neglected or distressed. It is often gut-renovated so that a buyer is willing to pay a premium for a move-in-ready home in a mature neighborhood. Some flippers even go to a greater extent to develop a legalized basement suite so the new buyers get the advantage of a mortgage helper to assist in qualifying for financing. The most important factor that determines whether or not you will make money on a flip is the decisions you make regarding searching, buying, designing, renovating, staging, marketing and finally selling the home. This is why you need the guidance of a real estate agent with significant experience in this type of investing.

Not only is Edmonton an affordable place to live, it is the least expensive major city in Canada with an average detached home price of $433,750. Many of our more desirable areas like St. Albert and Sherwood Park are also relatively affordable when compared to other similar areas across Canada.

Due to the low cost of living in the Greater Edmonton Area, most people can live comfortably on a normal or even below average salary. The income to cost of living ratio is one of the lowest in Canada and allows most families to live comfortably within their means.

Some of the best areas outside of Edmonton are Sherwood Park, St. Albert, Beaumont, Spruce Grove and Stony Plain. Communities like these offer families a slightly different lifestyle, while still enjoying access to all of the amenities that a large city like Edmonton has to offer.

No. One of the big benefits of buying a property in Alberta versus other provinces is that there is no land transfer tax province-wide.

In almost all cases, no. Even when GST is applicable, like when buying a new home for example, it is usually included in the advertised price. In Alberta, real estate prices are usually advertised including GST versus price plus GST.

There are many ways to find the best Realtors® in Edmonton. We recommend reading reviews from trusted sources like Google. Reading reviews allows you to read about others’ experiences and see if a particular Realtor® or real estate team is a good fit.

The majority of neighborhoods in Edmonton are extremely safe with a history of very little crime, vandalism and theft. A good Realtor will be honest and steer you clear of neighborhoods known for causing problems.

Yes, and you should. In fact, we recommend a home inspection on virtually all of our buyer purchases including brand new homes from builders. A home inspection in Alberta usually costs around $500 and is a small price to pay for peace of mind going forward. A home inspection is not a pass or fail grade. Instead, you are hiring a home inspector to give their expert opinion and analysis on every aspect of the home. Buyers are primarily hiring a home inspector to find any major or deal-breaking issues with the home that may cause a buyer to walk away from the purchase. The best home inspectors will also leave you with a list of 20-30 maintenance items or minor deficiencies with the home so that you are aware of them and can address them accordingly after you move in.

Yes. Before we even start discussing homes, neighborhoods and amenities, we need to determine your budget. The first step to the buying process is to get a free pre-approval with one of our top mortgage specialists in Edmonton. Usually this can be done in under 20 minutes over the phone. We have outstanding specialists and mortgage brokers available at all major lenders and banks. Obtaining a free pre-approval before starting to shop for homes will help by:

• Ensuring that you are shopping at a price point that is in line with what the bank will lend you.
• Getting an interest rate hold for 90 days in the event that rates increase while you are shopping for a home.
• Help us negotiate a better price for you by making your offer look stronger than other competing offers. 

Our team requires all of our buyers to be pre-approved before shopping for homes.

Yes we do. In recent years, we have had dozens of buyers purchase a home over FaceTime. We are happy to provide this service for any of our clients that are considering making the move to Edmonton.

Alberta as a whole has one of the strongest job markets in Canada. If you are willing to work hard, there is a job for you. As of the beginning of 2023, there are over 100,000 job openings in the province. Many of these job openings are for positions that pay above the national average.

Yes there are. In fact, Alberta is frequently recognized as having one of the best school systems in Canada. The top school districts in the area are Edmonton Public, Edmonton Catholic, St. Albert Public, St. Albert Catholic and Elk Island Public.

Edmonton has a very diverse field of industries where you can have a successful career. Our largest sectors are in healthcare, engineering, construction and energy. Edmonton and the area is also home to tens of thousands of small business and self-employed individuals. In fact, Alberta has become known as a leader in business and entrepreneurship across Canada.

The greater Edmonton area is home to over one million people, and thus comes with all of the activities and amenities expected in a municipality that large. Within a 4 hour drive from Edmonton, you can find world-class skiing, hiking, camping, boating, fishing and hunting. And for those looking for a winter getaway, Edmonton International Airport offers dozens of direct flights to prime tourist destinations.

In the winter, yes. Edmonton can have harsh winters ranging from 5 to -30 degrees Celsius. However, the summers are typically warm, sunny and predictable. Edmonton is known for receiving more hours of sunlight than most other major cities in North America both in the summer and winter.

Edmonton and Calgary are a 3 hour drive apart. Both cities are culturally diverse and have proven to be great places for families to live and get ahead. When it comes to employment, it can be relatively easy to get a job in either city and average salaries are virtually the same. Both cities also have the same cold winter weather. However the big difference comes with average detached home sale prices. As of 2023, Calgary is sitting at $516,000 versus Edmonton’s $382,000. That’s a 29% difference in affordability and cost of living.

No. One of our favorite things about Edmonton is that we have minimal traffic year-round. Edmonton is known to have the shortest commute time out of all major cities in Canada. Even when commuting on the roads during rush hour, Edmontonians do not plan for any major delays. Unlike many other large cities in Canada, there is no need to attempt to commute at off-peak times.