April 2015 (update) by Real Estate Magazine (REM)

Issue #310

April 2015

Putting the salesperson first a winning formula Page 3

Leave it to the local sales reps, urges broker

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Kelownaâ&#x20AC;&#x2122;s

Jane Hoffman

leads the way in luxury sales Page 12

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REM APRIL 2015 3

Putting the salesperson first a winning formula Re/Max Performance Realty celebrates 30 years of service

By Connie Adair

Celebrating 30 years, from left: Dwain Johnson; Roy Anderson, assistant regional director, Re/Max of Western Canada; Don McDougall and Arvind Nair.

he more things change, the more they stay the same. The three agents who worked together, liked each other and decided to start a business that would put salespeople first are celebrating 30 years in business together doing just that. Re/Max Performance Realty, started by brokers/owners Don McDougall, Dwain Johnson and Arvind Nair, serves the Surrey, North Delta, Cloverdale, White Rock and Langley, B.C. markets. “We decided 30 years ago to put the salesperson first in every decision. That’s where

the notion to go into business together came from,” Johnson says. At that time, Re/Max was just appearing as a franchise. The company was eager to talk to the trio about becoming the first franchise in B.C., Johnson says. “We liked them. They cater to professional agents who are established in the marketplace who work hard to do better.” The trio were lucky enough to attract good agents right from the start. “We were well known in the community. We were careful and

accepted those who were honest and had high ethical standards, something we’ve maintained for 30 years,” says Johnson. In the first year there were a dozen agents, in the second year 30, and now the office has 60 agents. The trio has always made a conscious effort to keep their numbers manageable. “We’ve been fairly consistent over the last 25 years. It’s a stable environment with a low rate of turnover. We still insist on good agents who work hard for their clients,” says Johnson. In the beginning they worked

from a couple of thousand square feet but have grown to a 10,000-sq.-ft. office now. “We cater to a standard of agent who likes to have space – a desk, computers and assistants in a professional business office-type environment.” One of the biggest changes is the amount of training available now. The office has a mentorship program and thirdparty training offering particular skill sets, he says. “When we started we didn’t have the time or resources to train. Now many want professional training right out of the gate.” The 66-year-old Johnson says to keep abreast of the quantum leap in technology, the office makes every effort to ensure equipment is leading edge and to provide top-notch support staff focused on technology. Technology tends to flatten the playing field, but agents can’t hide behind it. Professionalism and education still matter, he says. Twenty per cent of Re/ Max Performance’s agents were medallion top producers in 2013. “We retain agents by loving them a lot and helping them

24/7. Our agents know they can call Don, Arvind or Dwain and their concerns will be taken care of, even on the weekends and at night,” Johnson says. Agents also look after each other on a personal level, supporting colleagues who have family or medical issues. “The team effort goes a long way to foster friendship and loyalty,” he says. A number of Re/Max Performance professionals volunteer on real estate board committees, one as a director and others working on education, MLS and public relations committees. Agents are also involved in charities including the Rotary Club, the Heart and Stroke foundation, the Children’s Miracle Network and toy and blanket drives. As for the future, there are no retirement plans in the works. “It’s not in our nature to play golf,” Johnson says. “We’re engaged in the community and will continue to support professional standards and keep agents abreast of technology.” Here’s to another 30 and beyond. REM

AREAA launches Toronto chapter

Celebrating the inaugural meeting of the AREAA Greater Toronto Chapter is the organizations’ Board of Directors. From left: Winson Chan, Garry Bhaura, Emily Wang, Cynthia Lai, Linda Chu, Richard Silver, Kirby Chan, Shirley Yee and Karrie-Ann Sheppard. Not present when the photo was taken: Azizali Kanji.

new chapter of The Asian Real Estate Association of

America (AREAA) launched in Toronto recently.

Founded in 2003, AAREA is a professional trade organization “dedicated to promoting sustainable ownership opportunities in Asian American communities by creating a powerful national voice for the housing and real estate professionals that serve this dynamic market,” says the association. Toronto is the second Canadian chapter – there has been an active Vancouver chapter for several years. Cynthia Lai of Global Link Realty Group is the inaugural president of the Toronto

Chapter. Garry Bhaura of Century 21 President Realty and Richard Silver of Sotheby’s International Realty are vicepresidents. The association says Toronto has a long history of cultural diversity in terms of immigration but has been experiencing “a meteoric rise on the international real estate scene, particularly with investors from Asia. Asian investors… are seeking to diversify their holdings by funneling capital into Greater Toronto real estate.” The new group is comprised

of Realtors, lenders, financial planners, builders and developers. Membership includes housing and real estate professionals of all cultural backgrounds and is open to those who support the mission of increasing sustainable homeownership in the Asian community, the association says. AREAA Greater Toronto members will be attending the 2015 Global & Luxury Summit in Chicago from April 19-21 to promote Toronto. For information: http://www.areaa. org/blog/2015-globalluxurysummit/ REM

4 REM APRIL 2015

Leave it to the local sales reps, urges broker

Despite the global economy, real estate should remain a local business, says Stratford, Ont. broker Marian deWever By Susan Doran

ou can’t stick your head out from under the bedcovers without hearing about globalization these days. The media rarely misses an opportunity to hammer home the point that due to technology, the world is shrinking and economies everywhere are increasingly interconnected. Real estate broker of record Marian deWever in Stratford, Ont. gets that. Although she’s aware that not everyone will agree with her, she strongly believes that despite the global economy, real estate should remain a local business. “A variety of things contribute to value that Realtors cannot possibly know without being an area resident,” even if they do online research, she says. These can range from the various intricacies of understanding which neighbourhoods and school districts are desirable and where the boundaries of these lie, to in-depth knowledge of licensing, zoning, recreational facilities, parking requirements, pricing, history and crime rate. Every community is unique, and when agents from far-flung municipalities who know little or nothing about an area represent clients moving there, they do them a disservice, deWever says. This goes on everywhere, she says, not just in pretty Stratford, the hometown she shares with teen heartthrob Justin Bieber. (“He’s here a fair bit,” she says, for the benefit of any REM-reading Beliebers. “He still has high school buddies in Stratford and he comes and chills.”) deWever, who has been in real estate for 26 years, is with Home & Company Real Estate, a boutique-style operation. In her observation, “There’s an influx of people purchasing in Stratford from larger destinations, such as Toronto.” Gwen Kirkpatrick, EO of the Huron Perth Association of Realtors (HPAR), which includes Stratford and surrounding towns

such as St. Marys, agrees that like many areas, theirs has started “to experience more inter-board listings,” particularly in the past couple of years. While questioning whether agents from outside the area – some even from outside the province (which complicates insurance and liability issues) – are able to represent their buyers properly, the association’s main concern in this regard is the significantly increased workload it faces as a result of processing the added listings. To help with this, some regions in Ontario now have plans to pool their data, “merging the databases of various nearby communities,” Kirkpatrick says. HPAR has not jumped on to that train yet, “but we will see,” she says. There are many reasons a community becomes a draw to outside buyers…the fact that it is Justin Bieber’s birthplace not necessarily among them. Stratford, besides having a reputation as one of Canada’s loveliest cities and being home to the Stratford Festival, is far more affordable than Toronto and some other nearby municipalities, deWever says.

“Stratford has become a retirement destination,” she says. People buy second and investment properties in Stratford too, she adds, with one common usage being conversion to B&Bs. One fairly common problem deWever has witnessed with out-of-area agents is that, not knowing Stratford’s zoning and licensing requirements, they can wind up selling properties to aspiring B&B owners that do not qualify or meet the requirements once all is said and done. Open houses by outside agents are another issue. “We’re unique in Stratford in that all real estate offices are closed on Sundays, so open houses are on Saturdays instead,” says deWever. “But outside Realtors will have an open house on Sunday because they don’t know the market. I’ll see the signs – it’s just comical. Everyone else was out the day before. How is that in the best interests of clients?” Similarly, outside real estate agents representing clients in various other communities may be unfamiliar or out of their depth dealing with issues such as soil erosion, Aboriginal land claims and so on. (The same goes for outside appraisers – they may not be

Many agents argue that no one likes to lose clients and that selling out of area has worked well for them. But deWever feels it’s not worth the possible consequences of being unfamiliar with the local market and having that backfire.

Marian deWever

Regina Dutt

able to decipher comparables properly since they don’t know the market, deWever says.) “We’ll see Toronto Realtors with their buyer clients (sellers too, but less often),” says deWever. “The practical solution is for outside Realtors to understand that it is not in their clients’ best interests. Instead they should set up a referral network. Or if they are not comfortable handing off the client, they can come with them and work with us on a referral basis – let us be involved.” She suggests that some good places to find salespeople to refer to clients include conferences, real estate Facebook groups for the target area and Realtor.ca. Something to keep in mind, she says, is that referrals are often reciprocated. Many agents argue that no one likes to lose clients and that selling out of area has worked well for them. But deWever feels it’s not worth the possible consequences of being unfamiliar with the local market and having that backfire. There is also the matter of time effectiveness, as hours of driving to and fro may be involved, she says. In her opinion, “You are far better to build a referral network of like-minded Realtors rather than take the liability” and wasted effort. Regina Dutt of Keller Williams Black Diamond Realty in Burnaby, B.C., concurs. “Absolutely I have a referral network,” Dutt says. “I would rather send a client to a specialist in an

area than fake it.” Local sales reps, knowing the area, are able to be passionate about it and to provide a history “that is not off the Internet,” Dutt adds. Ron Stuart, partner with Harbourside Realty in Halifax, says referrals are typically 25 per cent. But he says, like most other aspects of real estate, referrals can be negotiable and competitive. “Some agents have a focus on incoming referrals and offer a premium to get the business,” he says. Mere postings, disliked by many in real estate, are worth mentioning here. Stuart says that he has known sales reps who “make a business of co-ordinating with an unlicensed online advertising company to obtain mere posting listings in many if not all jurisdictions across Canada. With mere postings they can avoid agency duties. The homeowner receives little or no pricing guidance.” On the other hand, a sales rep operating under agency duties would generally have a duty to at least examine the property, provide pricing guidance and inform himself firsthand of the property’s condition, Stuart says. The Real Estate Council of Ontario (RECO) makes it clear that sales reps need to have reasonable knowledge of what they are dealing with. deWever and others argue that this is often not possible for agents from out of the area, thus compromising their transactions with clients. REM

6 REM APRIL 2015

Multiple Listings By Jim Adair, REM Editor Do you have news to share with Canada’s real estate community? Let REM know about it! Email: jim@remonline.com

■ ■ ■

Toronto real estate brokerage TheRedPin.com says it is “set to fix” a “centuries old business model…with a new program that significantly challenges industry norms by shifting 50 per cent of their sales commissions back to consumers.” If a seller lists their home with TheRedPin.com and at the same time engages them to buy a new home, the brokerage will rebate its half of the listing commission upon successful closing of the new home. “This isn’t going to make us popular with our colleagues, but our accountability is to our clients, not the industry,” says Tarik Gidamy, co-founder and broker of record. “Based on consistently rising property prices, Toronto Realtors have essentially seen their incomes increase by a whopping average of 21.9 per cent over the past three years. In contrast, our survey shows

Cover photo: DARREN HULL

that the majority of Canadians are adjusting to years-long wage freezes. It just doesn’t add up.” ■ ■ ■

The Board of Directors of the Real Estate Errors and Omissions Insurance Corporation has elected Rosemary Barnes as chair of the board. Barnes is an associate broker with Park Georgia Realty in Coquitlam, B.C. and has been active in the real estate industry for over 38 years. She is a past-president of both the Real Estate Board of Greater Vancouver and the B.C. Real Estate Association. She is also a past director of CREA and a past chair of the Real Estate Council of B.C.

Real Estate Errors and Omissions Insurance Corporation was established in 1988. It provides mandatory errors and omissions insurance to real estate licensees in B.C. ■ ■ ■

Bowes & Cocks Limited in Peterborough, Ont. was recently awarded affiliate status in Leading Real Estate Companies of the World (LeadingRE) and its luxury network, Luxury Portfolio International. “In addition to our local exposure, we now have a global platform for marketing our properties,” says Bill Cocks, broker of record/ president. Bowes & Cocks has recently

■ ■ ■

In November, Winnipeg sales rep Hannon Bell of Royal LePage Prime Real Estate says he heard MP Kevin Lamoureau “bemoan the fact that the upcoming date of February 15 was approaching and nothing was being done to celebrate the 50th birthday of the Canadian Flag. As I know both Kevin and former Liberal leader of Manitoba Jon Gerrard, this pulled at my heart strings as I remembered the flag’s debut as a high schooler.” Bell says he decided to do something novel to mark the occa-

sion and the result was an ad that appeared in the Winnipeg Real Estate News. “I sent the ad to both Jon and Kevin and they were very touched,” says Bell. “In real estate it’s always wise to think outside the box.” ■ ■ ■

Avison Young has acquired Calgary-based real estate management company Peregrin Inc. The purchase adds approximately one million square feet of property under management to Avison Young’s global portfolio. As a result of the acquisition, Avison Young adds 12 employees in Calgary. Peregrin founder, president and CEO Kevin Ogle is now a principal of Avison Young. He will direct the firm’s real estate management business units in Calgary and Edmonton and be responsible for expanding their related business lines throughout Alberta. Also joining Avison Young from Peregrin are Charles Northup, Jordan Haber, Joe Nosella, Janelle Rowat, Terry Elliott, Veruska Predan, Adeana Bohnet, Bentley Heintz, Clarissa D’Castro, Gilles Gilbert and Chadi Ellahib. ■ ■ ■

Gary Emde

Rosemary Barnes

Norm Fisher

Hannon Bell’s ad celebrating the flag’s anniversary.

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Phone: 416.425.3504 www.remonline.com REM complies fully with the Canadian Real Estate Association's Rules for Trademarks (CREA Rule 16.5.3.1) REALTOR® and REALTORS® are trademarks controlled in Canada by The Canadian Real Estate Association (CREA) and identify licensed real estate practitioners who are members of CREA. MLS® and Multiple Listing Service® are trademarks owned by CREA and identify the services rendered by members of CREA. REM is published 12 times a year. It is an independently owned and operated company and is not affiliated with any real estate association, board or company. REM is distributed across Canada by leading real estate boards and by direct delivery in selected areas. For subscription information, email distribution@remonline.com. Entire contents copyright 2015 REM. All rights reserved. Reproduction in whole or in part without written permission from the publisher is prohibited. The opinions expressed in REM are not necessarily those of the publisher. ISSN 1201-1223

Century 21 Canada recently added six master coaches to its PEP educational program. “Almost all programs focus on teaching – PEP doesn’t. It’s all about action,” says Kevin Stanley, the company’s director of knowledge and learning. “The instructors have been there, they’ve found what really works. Agents apply instant, proven tactics while they work, so they watch the results happen.” The coaches joining Stanley are Matthew Ferrera, Richard Robbins, Chris Leader, Debbie Cooke and Eryn Richardson. REM

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ary Emde and Norm Fisher have acquired Hallmark Realty in Saskatoon. The brokerage will operate as Royal LePage Hallmark. Hallmark Realty is the No. 1 independent brokerage in the Saskatoon market and the largest independent in Saskatchewan. Former owners Don McIvor and Colleen McDonald will continue to manage the business. The move adds 80 sales professionals to the Royal LePage salesforce in Saskatoon, bringing its total to more than 130, and increases its market share to almost 22 per cent in Saskatoon, the company says.

undergone a major transformation, with upscale high-tech office remodeling, new technology and innovative compensation packages for their sales staff, the company says. It is a family owned and operated brokerage, founded in Peterborough in 1956, with offices throughout south central Ontario in Apsley, Bancroft, Haliburton, Harrowsmith, Huntsville, Lakefield, Lindsay, Norwood, Omemee, Peterborough, Westport and Wilberforce.

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8 REM APRIL 2015

$13.98 million home to be sold at auction A

luxury home fashioned after the Palace of Versailles and on 2.4 acres in the upscale Bridle Path area of Toronto, will be sold at auction on April 16 through New York Citybased firm Concierge Auctions. The property is currently listed for $13.98 million and will be sold during a live auction in co-operation with Barry Cohen, broker of the Barry Cohen Group at Re/Max Realtron. The home at 40 Park Lane Circle, also known as the Bridle Path Estate, has 27,000 square feet of living space and is ready for finishing touches, says Concierge Auctions in a news release. “This is a rare opportunity to own one of most outstanding properties in the Greater Toronto Area for your own bid price,” Cohen says. “Luxury auctions are making an impact as the best and most effective alternative to the traditional sales process. This has clearly caught on in the States. We expect a wonderful turnout on auction day for what can only be described as a one-of-a-kind home.” Recently redesigned by architect Jacques Dinel of Dinel Design, with influences by Louis XIV and the Palladian styles of Europe, Bridle Path Estate makes a stunning first impression, the company says. Its exterior features customdesigned cartouches, friezes, emblems, two-storey fluted pilasters with projecting Corinthian capitals, ornate brackets and laurel leaf corbels. Elaborate rosette coffers adorn the

front portico ceiling and 30-foottall Corinthian columns support the canopy. The home has eight bedrooms, 14 bathrooms and a grand ballroom. Its master bedroom features double doors flanked by two Ionian columns, a fireplace, an elegant plaster ceiling and french doors to a private balcony, while the master bathroom includes heated onyx floors, roughed-in steam showers and a sunken Ultra whirlpool tub with a marble surround. The additional bedrooms, lower guest suite, nanny quarters and separate above-grade in-law suite (including living room, kitchen and provisions for a five-piece bathroom), all boast luxurious amenities including walk-in closets, fireplaces and ornate architectural adornments. There is an office suite with a two-sided fireplace and separate board room – ideal for business meetings – in addition to a billiards room, a theatre and an indoor swimming pool. Outdoor amenities include an Olympic-size swimming pool and a tennis court. Laura Brady, president of Concierge Auctions, says; “Toronto is a strong market, and, ranked by the Census as one of the most affluent neighbourhoods in Canada, the Bridle Path community is a crown jewel. We look forward to finding a new owner to make it ‘home’.” The auction will be held live on April 16. The property will be open 1 to 4 pm daily and by appointment. Brokers are protected and encouraged to participate, REM the company says.

The home at 40 Park Lane Circle has 27,000 square feet of living space.

Is Kitec the new UFFI?

By Richard Silver

uring cold weather, there’s nothing more comfortable than radiant heating, especially when it’s installed in your flooring or used for high-end treats like heated towel racks. However, if you’ve used a product known as Kitec in the installation of the radiant heat, some insurance companies won’t insure your home. The product has been plagued with failing fittings and disintegrating pipes. The insurance issue turned up in a house inspection recently and caught everyone by surprise. Is this the new UFFI? It seems that the plumbers who originally installed Kitec have come to believe that if you have Kitec in your home, it will eventually cause a problem – not maybe but definitely. If you have radiant heating in your house that is water-heated and was installed between 1995 and 2007, call your plumber and have him certify that no Kitec was used. If you do find Kitec, the best thing

you can do is replace it right away and join in the class action lawsuit at www.kitecsettlement.com to get some money to help the remediation. Sold between 1995 and 2007, Kitec is a piping system that was used both for carrying water throughout a home and supplying water to radiant heating systems. The Kitec system used brass fittings as well as blue and orange flexible piping, which was made from a mixture of polyurethane and aluminum. This system was initially thought to be a superior product to copper piping because the Kitec pipes are more flexible, easier to install and less expensive than copper. In fact, many plumbers pushed for the use of Kitec over copper piping before it became apparent that the product was faulty. If you bought a home and discovered that it has Kitec in it, you may have trouble getting your home insured – it all depends on your insurance company. According to a 2013 article from the Nova Scotia Association of Realtors, “Insurance companies assess risks based on their own claims experience, and some larger companies have not had enough bad experiences with Kitec to deny insurance. Some companies are denying insurance, however, most likely because they are not relying solely on their own claims experience, but avoiding all possible risks.”

Even if you haven’t been denied home insurance because of the product, you should still be able to receive compensation from manufacturer IPEX in order to help you replace the Kitec. In 2011, three class action lawsuits – one in the U.S., one in Quebec and one covering the rest of Canada – were brought against IPEX on behalf on anyone who owns or had previously owned a home with Kitec in it. In 2012, all parties reached a settlement in which IPEX was forced to create an account of US$125 million in order to compensate the claimants. The settlement became effective as of Jan. 9, 2012, and the deadline for filing a claim against IPEX is Jan. 9, 2020, so if you believe you deserve compensation, be sure to visit www.kitecsettlement.com to see if you are eligible and to find out how to make a claim. Richard Silver, a salesperson at Sotheby’s International Realty Canada in Toronto is designated as an ABR, e-PRO and a CIPS. A director-at-large for CREA, he also sits on two committees at the National Association of Realtors in the U.S. and he is vice-president of the Toronto chapter of AREAA. He often speaks and writes about the use of technology in real estate as well as the international real estate market. Connect with him on Google+, Twitter or Facebook. REM

Letters to the Editor FINTRAC legislation a mess

What a mess. I speak of the draconian and ugly FINTRAC legislation that Prime Minister Harper passed in 2008. It is a total flop. One hundred and ten thousand members of CREA along with thousands of other small business persons were mandated by law to carry out secretive legislation to “spy for the state”, all in a shroud of secrecy. Harper sent the RCMP to hold meetings with the Realtors. When a Realtor asked, “What if I don’t comply? the RCMP said, “We will arrest you.” The RCMP stated, “We will do the best we can to protect

your identity.” What a farce that was. They can’t even protect themselves from all their scandals. You only bumped into the secretive legislation when you bought or sold real estate using a Realtor. Failure to comply would mean $2-million fines, jail time or both. The RCMP and CSIS were both involved in that legislation right up to their ears. FINTRAC is in my opinion totally the wrong method to gather intelligence for Harper’s fascist state. Today the rules are even more dangerous. Realtors are now forced to track their clients forever and assess a risk factor to their clients, all in a shroud of secrecy.

Ironically, the multinationals selling real estate are exempt from the legislation, as are For Sale By Owners. Clearly if you want the citizens to help fight crime you don’t do it with this kind of blunt instrument. The proper way would be to do what Canada Revenue does, with a type of whistle-blower legislation. That works well for them, with no risk to the citizen who is trying to be helpful, and some small reward for their help upon summary conviction. Stew Fettes, Retired Century 21 Dome Realty, REM Regina

OFITABLE COMMUNITY TRUSTED NADIAN REAL ESTATE LEADERS M CE ATTRACTING KNOWLEDGE STED THE BEST PASSION SER RVICE IS WHAT WE DO PROFITA WBLE LEADERS COMMUNITY U OMMUNITY CANADIAN THE VOICE NADIAN REAL ESTATE LEADERS M RODUCTIVE SERVICE EXCELLEN ROFITABLE COMMUNITY TRUST ADIAN THE VOICE OF CANADIAN ATE LEADERS PASSION KNOWLE SERVICE PROFITABLE COMMUNIT USTED THE VOICE CANADIAN R ATE LEADERS PASSION EXCELLE RODUCTIVE PROFITABLE CANAD OWLEDGEABLE MORE PRODUC OMMUNITY CANADIAN THE VOICE NADIAN REAL ESTATE LEADERS M Royal LePage’s recruiting program re-energized our management team, strengthened our relationships with existing agents and reinforced an office environment that continues to attract agents. Recently, with this buzz, we were able to recruit the top local team to join our company.

– Matt Honsberger, Broker Royal LePage Atlantic

Learn how Royal LePage's recruiting tools can help you grow your business.

royallepage.ca/joinus

This is not intended as an offer to sell or a solicitation of an offer to buy, including a solicitation of any sales representatives or broker that is currently under contract. All offices are independently owned and operated, except those marked as “Royal LePage Real Estate Services Ltd., Brokerage”, “Royal LePage West Real Estate Services” and “Royal LePage Sussex”. Any copying, reproduction, distribution or other use of these materials is prohibited. ©2015 Brookfield Real Estate Services Manager Limited. All rights reserved.

10 REM APRIL 2015

Century 21 names top offices, agents Alex Palmer of Century 21 Lloydminster Realty in Lloydminster, Sask. has been ranked the No. 1 agent in the Century 21 System worldwide based on sales units in 2014. Palmer also ranked as the No. 1 individual by units and by production in the Century 21 Canada System. Palmer has lived in the Lloydminster area for 37 years and

has been a top salesperson since beginning his career in 1970. He credits the awards to the smooth process his assistants, Deb Kent and Linda Regular, allow him to provide clients. For the 11th straight year, the Goodale Miller Team in Oakville has claimed the title of No. #1 team by production from Century 21 Canada. They also received international acclaim in 2014, ranking as the No. 2 team by production in the world. The Goodale Miller Team is

From left: Greg Sexton, COO, Century 21 Real Estate LLC; Alex Palmer, Century 21 Lloydminster Realty; and Richard W. Davidson, president and CEO, Century 21 Real Estate LLC.

Paul Baron

Susan Tough

George Bamber

part of Century 21 Miller Real Estate. For the fourth consecutive year, Century 21 Leading Edge Realty in Toronto claimed the title of No. 1 company by production as well as units. The brokerage also received international acclaim in 2014, ranking as the No. 5 company by production in the world. The brokerage has a team of more than 500 agents and multiple locations throughout the GTA. “We are in a business partnership with our agents, working together, which helps us all achieve more,” says Paul Baron, broker. Century 21 Bamber Realty in Calgary placed first in the rankings for performance in dollar volume. The agency has also distinguished itself internationally, placing third in the world rankings. George Bamber is the owner and manager.

Dale Devereaux inducted into Century 21 hall of fame Top Red Deer, Alta. sales rep Dale Devereaux of Century 21 Advantage has been inducted into the Century 21 Dick Loughlin International Hall of Fame. The award recognizes company members who achieve impressive sales production and go above and beyond for their community. He was honoured onstage in front of thousands of peers at the recent Century 21 Global Conference in Washington, D.C. Devereaux is the fourth Canadian to receive this international award. Along with his customers and friends, he helped the community food bank by donating a turkey for every house he has sold for the last 17 years. In total, they’ve helped feed more than 17,556 people dur-

From left: Sheila Hardy, Century 21 Hometown Realty, Dale Devereaux, Century 21 Advantage and Richard W. Davidson, president and CEO, Century 21 Real Estate LLC.

Hudson Smith

Ken Pearman

Lisa Hartigan-Middlestead

Rod Stirling

ing the holidays and Devereaux has become the Red Deer Food Bank’s single largest donor. Devereaux has been recognized by Century 21 Canada with the Grand Centurion Producer Award for his sales results every year since 2003. He has also ranked as the No. 1 individual by units at his office for 18 consecutive years. In 2003, he was named Sales Associate of the Year by the company.

Rick Dubord awarded FVREB’s highest honour The Fraser Valley Real Estate Board (FVREB) recently awarded Cloverdale, B.C. managing broker Rick Dubord with its top honour, the John Armeneau Professional of the Year award for 2014. Dubord, of HomeLife Continued on page 18

Don Goodale, Brad Miller Rick Dubord, left, receiving the John Armeneau Professional of the Year Award from FVREB past-president Ray Werger.

Mary Bales

Gary August

“ I chose Engel & Völkers because it is a truly international company with world class tools and technology designed to provide luxury level service whether it’s high end international sales or for first time buyers.” Ron Amendola, Engel & Völkers Toronto Uptown

Only the best in the business join our brand. For 25 years Ron Amendola has built and managed a real estate business known in Toronto for the expertise and exceptional client services of its agents. His decisions have been guided by his own personal standards and high expectations when it comes to service. As a way to enhance the level of quality, combined with a need to reach a greater international audience, Ron has become the owner of Engel & Völkers Toronto Uptown. His business is now part of a global network that shares the same commitment to being the very best in the industry.

Engel & Völkers Canada 2 Bloor Street West · Suite 700 · Toronto · Ontario M4W 3R1 · Canada · Phone +1-416-323-1100 info@evcanada.com · evfranchise.com

©2015 Engel & Völkers. All rights reserved. This advertisement is not an offering of a franchise, and where required by law, an offering can only be made 14 days after delivery of the applicable franchise disclosure document.

12 REM APRIL 2015

Life at the top in Kelowna

Jane Hoffman overcame a devastating personal tragedy to become Kelowna’s leading luxury home specialist and Coldwell Banker Canada’s top team leader. By Kelly Putter

ane Hoffman has lived her life largely within a six-hour curve that includes a snowy ski resort town and the bright lights of Vancouver, but something about Kelowna keeps drawing her to the water’s edge. Call it the lake effect minus all the negative meteorological terms that weather forecasters usually associate with it. The lake effect where Hoffman is concerned is an ever-changing environment that is simultaneously serene and awe-inspiring. It is where she lives and works, where she frolics with family and friends, and where she sells real estate as leader of Coldwell Banker Canada’s top luxury sales team. Like a de facto den mother protecting her cherished territory, Hoffman is a serious Kelowna advocate, which is a by-product of her job as the area’s leading sales rep. It’s a picturesque midsize city known as a four-season playground thanks to its wineries, moderate climate, sandy beaches and Big White Ski Resort. Hear Hoffman describe the lake and you immediately want to move there. “I can honestly say I feel like I’m in the most amazing city in Canada,” says the 63-year-old sales rep, who this year marks 30 years of selling real estate in Kelowna. “I can’t explain how I can wake up every morning for 35 years and still feel like it’s the first time I’m seeing the lake. I still take a deep breath when I look at it each morning.” She’s not alone. Lake Okanagan is a big draw for luxury homeowners attracted to the area’s new homes that are often accompanied by pools, large garages and beautiful landscaping. These high net worth homes, often in the $2-million plus bracket, feature spectacular lake

views, roughly 4,000 to 7,000 square feet of living space and smart technology. Lakefront homes cost in the neighbourhood of $5 million but that price nets you a wharf and a dock.

need to build a strong team as buyers are typically mature and business-minded. They require expertise, personal service and professionalism in addition to discretion and confidentiality.

The majority of buyers come from B.C., though a growing number from outside markets are discovering the city, too. Albertans account for 18 per cent of Hoffman’s out-of-province buyers when reviewing all price ranges, but that percentage jumps for those buying properties over $2 million. Saskatchewan, where the potash and energy booms have created many affluent buyers, is also an important client base.

If you’re considering the luxury real estate market, you also need to work at building your brand. Hoffman’s branding started long before the term was commonly used. She called herself the “Lakeshore Specialist” and that moniker stuck. It’s obviously served her well as she has resold many of the lake’s homes two and three times during her career.

Hoffman manages a 12-person team. Last year, Hoffman and her business partner, Kristy Huber, were active agents in more than 72 per cent of all MLS sales over $3 million in her market. The team, which is known as the Jane Hoffman Group, works at Coldwell Banker Horizon Realty in Kelowna. It currently has over 200 listings, including more than 45 properties ranging from $2 million to over $10 million. In 2014, Hoffman was honoured as Coldwell Banker Canada’s top Ultimate Service representative in Canada, based on customer satisfaction surveys returned by her own buyers and sellers. Though the Okanagan Lake waterfront area is farmed by about 1,000 real estate professionals, Hoffman and her team currently list about 50 per cent of those $2-million-plus properties. Because luxury buyers are generally discriminating, the sales process can be a long one. You need patience if you want to crack this market. Finding the right fit can take months and sometimes years. To serve luxury clients, Hoffman believes you

Hoffman often uses aerial photography and videography in her marketing. She believes strongly in taking buyers on a boat tour of the lake as it helps them visualize what life would be like there. Originally from Revelstoke, B.C., Hoffman cut her teeth as an hotelier for snow-sporting enthusiasts, hosting the heliskiing crowd that visited her family’s boutique hotel from destinations far and wide. Her parents started the Regent Hotel during the Depression and today Hoffman owns and operates it with her brother and sister. Hoffman’s strong hospitality streak comes from her mother, who worked in the hotel until she was 92. Guests who travelled to Revelstoke would often ask, “Where is Gramma Kay?” referring to Hoffman’s mother, who died last year at the age of 100. It’s in Revelstoke where Hoffman met her husband, then an RCMP officer. The pair married and moved to Vancouver, and began what would eventually become a successful construction business by building homes during their off hours. The couple worked hard and as the business grew

Jane Hoffman (Photo by Darren Hull)

they decided it best to relocate in Kelowna. By this time, Hoffman’s husband had partnered with his brother-in-law – Hoffman’s sister’s husband – and the company continued growing and building projects throughout the province. Sadly, on a return flight from a job, their private plane crashed, killing Hoffman’s husband and brother-in-law. Hoffman, who had a six-year-old son at the time, was just 31. “We worked our way through it,” says Hoffman, who never remarried. “It was very difficult and very tragic. I felt fortunate because it was a seven- passenger plane and they had dropped off five of our employees before the accident. But something like that makes you stronger.” Because the 150-employee construction company had a good number of projects in the works, Hoffman managed the firm for the next five years to honour their obligations. Her cousin suggested she get into real estate because she knew construction, she enjoyed working with people and she loved the lake. That, she

says, was a defining moment. Today, Hoffman’s son is 39 and he has an eight-year-old son. They live nearby and that nearness is precious to Hoffman, who enjoys travelling with her grandson, taking him to Maui, her favourite spot in the world, and on short European jaunts. When Hoffman isn’t working, she enjoys skiing, ballroom dancing and fundraising for a local hospice. And while Hoffman is at an age when many Canadians are retiring or thinking of it, she has no such plan. She does plan, however, to go on boosting the city she loves, works in and proudly calls home. “I absolutely love where I live. I feel so fortunate. We have natural beauty, all the services you would need. I’m 45 minutes to the most incredible ski hill known as Big White. I can take my grandson to hockey in the morning, be at Big White by one and get home by five. It’s a really good lifestyle. And I never tire of working. I still get all excited and emotional about it even after 30 years.” REM

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And the honour goes to... Continued from page 10

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Coldwell Banker names 2014 award winners Coldwell Banker Canada recently announced its award winners for 2014. The No. 1 company in Canada was Coldwell Banker Horizon Realty in Kelowna, B.C. The brokerage was also Canadaâ&#x20AC;&#x2122;s only Chairmanâ&#x20AC;&#x2122;s Circle company, gaining international recognition. The managing broker is Susan Tough. Honoured for Top Office in North America (for offices with one to 10 sales reps) were broker/owners Ken Pearman and Rod Stirling at Coldwell Banker Northern Bestsellers, Yellowknife. The No. 6 Team in North America was The Jane Hoffman Group, at Coldwell Banker Horizon Realty. It was also the top team in Canada in units and gross commission income (GCI). Jane Hoffman was named Top Ultimate Service Representative in Canada. Coldwell Bankerâ&#x20AC;&#x2122;s top representatives in Canada were: No. 1 in units â&#x20AC;&#x201C; Hudson Smith, Coldwell Banker Neumann Real Estate, Guelph, Ont. No. 1 in GCI â&#x20AC;&#x201C; Lisa HartiganMiddlestead, Coldwell Banker Fort McMurray, Fort McMurray, Alta. Two special Canadian Ambassador Awards, the companyâ&#x20AC;&#x2122;s highest tribute, were presented posthumously to Gary August, broker of Coldwell Banker Horizon Realty and Mary Bales, a sales rep with Coldwell Banker Peter Benninger Realty in Kitchener,

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Canadian firms honoured at LeadingRE conference Leading Real Estate Companies of the World Conference Week, held recently in Las Vegas, attracted an audience of more than 2,000 attendees from over 20 countries. The event was hosted by Leading Real Estate Companies of the World for its member firms and offered separate conferences for brokers, senior managers and relocation professionals, sales associates, luxury specialists, sales managers and marketing and technology professionals. Three Canadian firms were recognized with company awards. The Global Alliance Award for most outgoing international referral closings went to Macdonald Realty of Vancouver. Earning recognition with the Top 5 Global Referral Award, based on sending the most cross-border referrals were CIR Realty in Calgary and Bosley Real Estate in Toronto. REM

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METES & BOUNDS

By Marty Douglas

’m in Las Vegas. Sin City. Overlooking the vast rooftops of the Mandalay Bay Resort. The pools aren’t open yet – they’re waiting for Spring Break. Having just emcee’d the Banff Western Connection, I’m adjusting to the leisure of a regular attendee at my brand’s international conference. Nearly 10 times the number of delegates are here but the routine is familiar. Opening receptions, keynote speakers, awards, educational sessions, motivational speakers and the big closing bash – the difference is in the name dropping. The opening session features Brian Buffini and the closing party head-

Apathy and annual general meetings liner is rocker Steven Tyler. Other than that, Realtors fill the rooms, swap business cards, renew old friendships and embark on new journeys. The trade show bazaar is shrill – “Buy from me! Look here Mister – almost free!” Tech tools abound and each shiny item is a temptation – to be avoided. Forty-five years in the business whisper in my ear – “You only need a pen and/or a QWERTY keyboard and they have been around for more than 100 years!” In between Banff and Vegas, I attended my home board’s annual general meeting – as every member should because the world is run by the ones who show up. Not much excitement this year, and that’s a good thing compared to last year’s mea culpa: “Oops, we seem to have misplaced a tad more than a hundred grand!” AGMs often struggle with membership attendance, causing innovative amendments to the constitution and bylaws such as reducing the size of the necessary quorum. (My solution – evolve to

a benevolent dictator, as long as it’s me!) Our board has tried lavish balls, innovative speakers, educational credit and the ultimate in bribery, the free lunch. It all produced a similar result – poor representation except by those who are paid to be there, those within a few minutes driving distance and those few of us who think membership deserves attention to the governance of our multi-million dollar asset. After all, we trust them to handle a couple of million dollars in revenue every year, most of it mailed in by the members. Perhaps we should check in and by doing so, hold them accountable. But then, many of you don’t vote in our other common membership – federal, provincial and municipal elections – so why am I surprised? One of my heroes, Phil Edgett of Royal LePage with 30-plus years in the business, hasn’t missed an AGM since becoming a member. Sadly there are no awards for perfect attendance and while others are recognized for charitable ges-

tures and years of tenure on the board of directors, Phil has refused recognition, preferring to keep private the work he does, the passion he has and the value he brings as an example of perseverance to our industry. If I could transfer my Realtor of the Year Award to Phil, I would. CREA is a welcome presence at our AGM and the presentation reminded us to get and stay involved at the CREA level. Hey, it’s not just about Webforms! Want to own your name as your domain? Get to the CREA website. Need to send a blizzard of protest to your MP over – oh I don’t know, FINTRAC? Make sure you are enrolled in the Realtor Action Network. Want to embed some great video in your website? CREA resources. How do those folks at Point2 get your listing? Check in to your settings on the DDF. How many views on that listing last week as you try for a renewal? Personal stats. All on the CREA website. But you knew that.

VIREB’s keynote speaker, morning television personality Riaz Meghji, presented Every Conversation Counts, the importance of the influence of conversations in our own lives, and of our conversations on others. In thinking back to conversations that got me where I am today, they occurred 46 years ago. One was with a complete stranger in a job interview who, in turning my application down, commented that as a recent university student I wasn’t likely to stick with his company. Without my help it became Telus. And my mother, who after I complained about the lack of job opportunities asked, “Why don’t you try real estate?” Thanks Mom. I’m still trying. Contact Marty Douglas by email at mgdouglas247@gmail.com. Follow or connect with Marty on Twitter, LinkedIn and Facebook. He is a managing broker for Re/Max Ocean Pacific Realty in Comox and Courtenay, B.C. REM

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Selling a messy house Selling a filthy house isn’t impossible, but it is a lot more challenging than selling a sparkling clean home. By Toby Welch

elling a filthy house isn’t impossible. Some buyers can see beyond cat feces smeared on carpeting, overflowing trash cans, dirty laundry scattered all over and piles that look like they are from the TV show Hoarders. But it sure is a lot more challenging than selling a sparkling clean home. Cheryl Kirby, a real estate advisor with Keller Williams Integrity First Realty in Mesa, Ariz. and the co-creator of an instructional staging DVD for real estate professionals, Get Ready, Get Set, Get Sold, feels very strongly about a sales representative’s responsibility to advise a client rather than just

dition – that’s one thing you have control over. If the condition is good, you can sell at the higher end of the price bracket and sell faster.” What turns off prospective buyers in a messy house? An ING Direct survey into this topic detailed the list in no particular order – piles of toys, clothes and books in bedrooms; smelly bathrooms; grubby kitchens; animal hairs and traces of pets; overgrown lawns; clashing colour schemes; unattractive pieces of art; and items out of place such as dishes in a bedroom or newspapers scattered in the kitchen. Jasmine Lee, broker at Re/Max

Hallmark Realty in Toronto, is careful not to tell the sellers that their house is a mess or a pigsty. “I explain to our seller clients that the way you live in a home and the way you present your home to sell are two totally different lifestyles.” She calls them: • Living Lifestyle – homey, personal, more clutter (toys, office paperwork, memorabilia, private items) and easy access to items (things on counters, dressers). • Home to Sell Lifestyle – decluttered, depersonalized, think model homes at a new home builder site, all items hidden and counters free of clutter. “We meet with our clients in their home and make notes of what is needed to get the home showing its best,” says Lee. “After our clients sign up… our stager meets with them in their home and explains the process and what is needed from them in order to get their home sold. Our team stager, Jacqueline Onassis, uses our notes and adds them with her recommendations to give sellers a clear outline of what is needed. She gets them to tackle as much as they

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Jasmine Lee

possibly can and then its time to dress the home for sale.” Lee recommends using a professional cleaning service if needed. She says if your idea of clean isn’t the same as your clients’, “try to recommend a house cleaner or add a couple of hours of service complimentary to help your sellers out.” Buyers must be able to visualize themselves in a potential house but that can be difficult in a filthy place. The beauty of the home and any unique architectural features would be impossible to see. If sellers still aren’t willing to clean up, mention that homes needing work tend to take longer to sell. For sellers in a hurry to get a sold sign, this might be the kick they need. One real estate agent interviewed for this article asked to remain anonymous but wanted to share his experience. “I listed a house that needed serious cleaning and I was unprepared for the backlash. Buyer’s agents were forewarned about the

condition of the house ahead of time yet they complained incessantly afterward. In the long run, the majority of the agents were unwilling to consider the property. I would go so far as to say that my reputation was damaged.” His experience is something to consider, that’s for sure. If none of your gentle prodding convinces your sellers to tidy up, perhaps the ultimate bargaining tool will work – money. ING Direct’s survey found that a messy house could cut $15,000 off the selling price of an average home. Richard Doe, ING Direct’s chief executive in 2012 when the survey came out, said that even if a messy house doesn’t dissuade buyers, it would almost certainly have an impact on the offers that sellers receive. Offers on messy houses do tend to be considerably lower than the asking price. When the condition of the property is questionable, you don’t find many bidding wars, making it a relatively safe bet that any offers will be lowballs. Going back to the ING Direct survey, the majority of the people surveyed stated that they would use the mess as a reason to negotiate a lower price for the property. The average reduction asked for would be five per cent but one in 10 people stated they would ask for up to 30 per cent off the asking price. Kirby adds to this point, “Is the home located in an area that is very desirable where people would buy the house no matter what? If so, is the seller willing to price it to compensate for the condition of the home? ‘Price overcomes all objections,’ as the saying goes.” Lee has one final piece of advice, “Understand that your clients have given you their trust and confidence to sell their home. Be honest in the way it currently shows and offer solutions. They will thank you for it!” REM

Before and after shots of a room cleaned and staged by Jacqueline Onassis, team stager for Re/Max Hallmark Realty.

stick a sign in the yard and put it on the MLS. “I hold the real estate professional responsible as much as the seller. It’s the agent’s responsibility to advise their clients. And one part of the job if you want to sell for the best price and least amount of time is to roll up your sleeves, dig in and ask what you can do to outshine competition and win a buyer.” Kirby continues, “There are basically three reasons people buy a home: location, price and condition. We can’t do anything about location and price is determined by market, but you can work with a real estate professional on the con-

26 REM APRIL 2015

INDUSTRIAL, COMMERCIAL AND INDUSTRIAL

By Christopher Seepe

eal estate investors must be very careful about purchasing an investment property under a five-per-cent cap rate, at which many retail plazas and multifamily properties are currently trading, with a down payment of 25 per cent or less. Companies with deep pockets understand the consequences of low cap rate purchases and can afford to look to a long-term return on investment. Smaller investors, anxious to purchase a property without proper financial due diligence, could discover that a small decrease in their net operating income or a small increase in interest rate or cap rate could lead to a substantial drop in property value and return on investment. Assume a rental property gen-

Low cap rate purchase could mean future trouble erates $100,000/year income. With expenses, especially utilities and taxes rising at an alarming rate, combined with the severe legislated restrictions on rent increases and the inability to pass on legitimate operating expenses, rental property operating expenses for smaller operators could be 45 to 50 per cent of income. Conservatively assuming 50-per-cent expenses, this leaves $50,000 before financing, called net operating income (NOI). If you own the property outright with no mortgage, this is perhaps okay, although it also means your equity is “dead money”. Your equity is not working for you to fuel financial growth. Earlier articles discussed what a cap rate is and how it’s determined, so we’ll just state here that it establishes a “baseline” property value, by dividing the cap rate into the NOI. $50,000 NOI / five-per-cent cap rate = $1,000,000 property value. If expenses (not the interest rate) rose five per cent in one year and rent guidelines allowed a 1.6per-cent increase, you’d have an

overall decrease in NOI of 3.4 per cent. NOI would then be $1,700 less than last year. The same fiveper-cent cap rate computes a property value of $966,000. The $1,700 decrease in NOI caused a $34,000 loss in property value – every $1 of decrease caused $20 of lost property value. Financing costs come out of NOI. If you pay a 25-per-cent down payment, the $1 million property above would have a $750,000 mortgage (75 per cent loan-to-value or LTV). Assume interest is 3.0 per cent, fixed, fiveyear closed, 25-year amortization. Monthly principal and interest would be $3,550/month or $42,600/year. Subtracting this financing from the NOI of $50,000 leaves $7,400. This is the money that goes into your pocket (called cash flow before taxes or profit) before paying for major capital costs (such as a new roof or furnace). Assume all factors above remain the same, your mortgage comes due and rates have increased to 5.0 per cent. The

monthly mortgage payment is now $4,360/month or $52,340/year. You’re now paying $2,340/year more than you’re making, again, before capital costs. In real life, you would have paid down some of the mortgage principal. Income would perhaps have increased but expenses and/or vacancy rates might have risen. There are many factors to consider but the point is that the 2.0-percent increase in interest put your property into a near break-even or possibly even a negative cash flow situation. The first major capital expense, such as a new roof, would make your investment a significant losing proposition. If you had accepted a 4.5-percent cap on a NOI of $50,000 for the property above, you’d have purchased the property for $1,111,100. Your 75-per-cent mortgage would be $833,325 with monthly payments of $3,944 or $47,324 annually. Your pre-capital cost “profit” dropped from $7,400 to $2,676. If the interest rate rose 2.0 per cent, monthly payments are $4,847 or $58,160/year. You’re

Going mobile with your website By Robin Wilding

he days of an optimizedfor-mobile website being an up sell or a “nice to have” are over. If you’re not engaging your users on a mobile platform that caters to their needs, then you’re throwing away up to half the traffic that you worked hard to earn. Consider these mobile statistics: • Almost 80 per cent of homebuyers visit three or more real estate websites before taking action.

• According to comScore, mobile users represent 51 per cent of all Internet traffic. • 74 per cent of web surfers will leave after five seconds if your website hasn’t loaded on their mobile device. • 46 per cent of those users will never return. • Every additional 100ms added to a website’s loading time leads to a one per cent decrease in sales and conversions. • Real estate is hyper-local and half of all local searches performed are done on mobile devices. • 36 per cent of homebuyers do their research on their mobile devices while sitting on the couch while watching TV. • You have less time to capture a user’s attention on a smartphone. The average computer browsing session is 39 minutes. Smartphone

sessions are less than half that, at just 17 minutes. • Your website needs to transition from mobile to non-mobile smoothly, because up to 60 per cent of online searches are continued on a computer. • Conversely, 23 per cent of laptop or PC-based searches end up on mobile devices. • More than 80 per cent of Facebook users are surfing on mobile devices (a wink wink for agents leveraging social media marketing). • 61 per cent of users lose faith in a brand without an effective mobile experience. So, not only is a user likely to leave your website and never return if it doesn’t load quickly, but they will lose faith in the quality of your brand without a strong mobile front. When you consider

that 50 per cent of online research is done on mobile devices and that your mobile website is up against at least three others…you’ll understand why the days of a lacklustre mobile experience are over. Luckily, it’s never been easier to add a positive mobile experience to your website…so make 2015 the year you finally go mobile. Robin Wilding is the creative mind behind Real Estate Websites Canada, a boutique real estate website company providing “differentiating-yet-laughably-affordable web solutions for agents across the country.” She says: “The company’s success is highly attributable to creating low-cost branded websites that highlight the personality of each individual agent. You’re unique; your website REM should be too.”

paying $8,160 out of your own pocket. Your property’s income is not covering the operating and financial costs of your investment. What happens if you have to sell in a buyers’ market in a few years? Loosely speaking, cap rate is partially a measure of return on investment (ROI). You may be satisfied today with a 4.5-per-cent ROI if 10-year government bonds are less than two per cent. But if government bonds rose to four per cent, prospective buyers who take on more risk and workload than a bond buyer would demand a higher ROI or cap rate. Let’s say buyers demand a sixper-cent cap for the above property that you purchased for $1,111,000, which still generates $50,000 NOI. $50,000 NOI / six per cent = $833,334. Theoretically, nothing has changed about the condition, income, expense or any other aspect of your property but the investment climate demanding a 1.5-per-cent increase in ROI has effectively wiped out $278,000 or 25 per cent of your property value and 100 per cent of your equity. You have to pay off the $833,325 mortgage, leaving you nothing. Imagine buying multiple properties with only 10 per cent down, as some real estate sages have espoused in their get-rich-quick schemes, and then experiencing the above scenarios. It’s the proverbial house of cards that’ll come crashing down around you. These scenarios are deliberately over-stated but the math and risks are real. Interest rates are the lowest they’ve been in living memory with cap rates following suit. Both will rise sooner or later and your property income should be able to absorb these swings. Chris Seepe is a commercial real estate broker and broker of record at Aztech Realty in Toronto, specializing in income-generating and multi-residential investment properties, retail plazas, science and technology related specialty uses and tenant mandates. (416) 525-1558 Email cseepe@aztechrealty.com; website: www.aztechrealty.com. REM

28 REM APRIL 2015

PASSIONATE ABOUT REAL ESTATE?

STOP SELLING HOUSES & START MAKING MONEY

Leverage your real estate expertise in Western Canada Coldwell Banker Affiliates of Canada is owned by Realogy, the world’s largest franchisor of real estate ®

brokerages. The Coldwell Banker global brand has over 86,000 sales professionals in over 3,000 offices in 43 countries and territories worldwide. We’re looking for an experienced business developer to join our Canadian leadership team, as we implement a strategic, long-term national growth strategy.

Director of Franchise Development, Western Canada The successful candidate will: • Become fully versed in the unique value-added offerings available through the Coldwell Banker ® system • Possess and build long term relationships within the real estate community in Western Canada • Have an acute awareness of the competitive landscape and industry trends in Canadian real estate • Identify internal and external growth opportunities. • Leverage the considerable resources of the organization to attract and engage compatible brokerages • Drive growth for our existing affiliate network through conversions, roll-ins, mergers & acquisitions and succession planning

For complete details on this position, visit the job posting on the Realogy website at: https://jobs.realogy.com Coldwell Banker Affiliates of Canada Andy Puthon, President 5500 North Service Road, Suite 1001 Burlington, ON L7L 6W6 (905) 331-7556

www.coldwellbanker.ca

© 2014 Coldwell Banker LLC. All Rights Reserved. Each Office is Independently Owned and Operated. Coldwell Banker and the Coldwell Banker Logo are registered service marks owned by Coldwell Banker LLC. Each sales representative and broker is responsible for complying with any consumer disclosure laws or regulations. Any use of the term “sales associate” or “agent” shall be replaced with the term “sales representative” in Canada. Not intended to solicit Brokers under a current franchise agreement.

By Debbie Hanlon

he recent slump in oil prices has cast a long shadow over all sectors of our economy, including real estate in many parts of the country. But don’t give up your license just yet because things aren’t as bad as they seem. Now, if you listen to the gloomsayers and doomsayers you would figure people were going to stop living in houses until prices go back up. Maybe they’ll go live in tents or stay with relatives until it’s over. That just isn’t the case, but some agents are worried that their business will feel a negative impact. If you’re one of those who is afraid that the current slump in oil prices is going to hurt your bottom line, there’s only one way to get rid of that fear – knowledge. The more you know about something, the less you fear it. For starters, industry experts believe that the average house price across Canada will increase from $407,500 to $419,318 this year. That’s 2.9 per cent. It’s not a great amount but it is still an increase. What that means, and what you can tell your clients looking to buy, is that if they wait for house prices to drop they may in fact end up paying more. Experts also say that the oil slump will mean that interest rates won’t rise as they were expected to. Again, this is good news for home buyers – the lower the interest rate the lower their mortgage payment. Plus, in the past falling oil prices have encouraged home ownership because the costs of driving to work and other activities will fall as well. It is the perfect time to buy, but advise clients not to expect huge drops in home prices because the real estate industry historically lags behind oil prices by two years, and in two years who knows where the price of oil will be? Your buyers will appreciate you telling them all

Oil be back: The changing market this. It shows that you know your business and you’re using that knowledge to take care of them. For your clients looking to sell, the same things apply. If you spell out the facts it should erase any fear they have of putting their house on today’s market. If they wait they take the risk that their homes will not be worth as much in two years as it is now so now is also the perfect time to sell. As well, the perception that it’s a

minutes a day reading up on how the real estate world is impacted by oil prices. Put it in your day planner and your Google prompts or add it to your to-do list on the fridge. Educate yourself and then use that knowledge to educate your clients. It’s one more value-added thing you bring to the table when you go after a listing. People appreciate it and it just makes you look good. In an industry as competitive as ours you need every advantage

Now, if you listen to the gloomsayers and doomsayers you would figure people were going to stop living in houses until prices go back up. Maybe they’ll go live in tents or stay with relatives until it’s over. buyer’s market means that more people will be looking to buy and the more buyers you have the better price you’ll get. You can use the current oil crisis to help convince your clients to list their homes at a price they’re actually worth instead of the price they think they’re worth, The strength of the public’s reaction to the market depends to a certain degree, as everything does, on geography. If you’re working in a place dependent on oil like Alberta, or Newfoundland where I work, it’s absolutely vital that you know your facts and can calm your clients down. In other areas it’s also important to be educated about the market simply because it’s a good thing and you have that knowledge should you need it. Knowing your stuff will never stop you from getting a listing, but by not knowing it you’re guaranteed to lose some. Your mission, should you choose to accept it, is to spend 20

you can find to not only keep you in the game, but help you win it. The next time you’re talking to a client or perspective client, drop a few facts about oil and real estate into the conversation, because even if they don’t mention it they are probably concerned about what it all means. If you broach the subject and use your knowledge to educate them and calm their fears, you’ll go to a whole new level in their eyes. So go ahead, pour some oil on those troubled waters. Debbie Hanlon is a real estate broker who has helped train hundreds of sales reps and brokered and managed a national real estate franchise. She also founded an independent real estate firm. Currently she coaches sales reps all over the world. She is the CEO of All Knight Inc, a global educational mobile company, as well as a published children’s author and the creator of the national I’m No Bully Show. https://www.facebook.com/ missdebbieandfriends REM

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The trademark WEBForms® is owned by The Canadian Real Estate Association (CREA) and identifies the web based real estate forms services provided to members of CREA. *Current legislation prevents the use of digital signatures in some provinces. **A Commercial Forms View drop down option is available in Alberta, BC & Ontario.

30 REM APRIL 2015

One citizen’s tax exemption is another’s burden By Jamie MacMaster

few months ago I called a salesperson from another brokerage to make an appointment to show a rural property she had listed. As she recited a list of features, she told me that – with the exception of the house and outbuildings – virtually all of the 60-acre property was exempt from property taxes because it was classified as “conservation lands”. That intrigued me enough to go looking, and sure enough, with the help of Google, I found this on The Ontario Ministry of Natural Resources website: “The Conservation Land Tax Incentive Program (CLTIP) is designed to recognize, encourage and support the long-term private stewardship

of Ontario’s provincially significant conservation lands by providing property tax relief to those landowners who agree to protect the natural heritage values of their property. The current tax relief offered is 100-per-cent tax exemption on that eligible portion of the property.” Now, that got me pretty excited, because with 120-odd acres of bush, brush and fields, I figured this would be a pretty simple way for Weezie (my wife) and me to carve a few grand off our tax bill! But a little voice or two stopped me. One of them had something to do with ethics. You see, I know that our municipality needs “x” amount of dollars per year to operate. And if I dodge two grand, and my neighbours all dodge two grand, it doesn’t change the fact that my municipality still needs “x” amount of dollars. And there is only one source of replenishment for the taxes that we would duck: the pockets of our fel-

low citizens. I prefer to shoulder my own societal responsibilities instead of transferring them to the shoulders of other Canadians who, because of age, infirmity or employment, may be a lot less able to bear the burden. Why should senior citizens, perhaps already struggling with their own escalating property taxes and electricity bills, have to pay my way? The other little warning was just the nagging feeling that the monetary (and momentary) advantages of today’s tax exemption would be poor compensation for tomorrow’s land-use restrictions and the attendant property devaluation. The process of obtaining a tax exemption entails visits to the property by government representatives, who record the natural heritage features of the land to determine its suitability for CLTIP designation. There are several pieces of provincial legislation – The Clean

Water Act and The Endangered Species Act immediately come to mind – that authorize bureaucrats to “protect” natural features such as limestone outcroppings, frog ponds and old fields. Protection in this case means that landowners have surrendered their rights to do a host of things on their lands – everything from ploughing and planting an old field, to building a recreational trail through a cedar swamp that may shelter wintering deer. And even if the current property owners are happy with the restrictions-in-lieu-of-taxes tradeoff, I can’t help but wonder if they have given any thought to moving-out day. All properties eventually come up for sale, and every real estate practitioner in the country knows that 100 acres with no land use restrictions has more value that a similar property where development is curtailed or prohibited. So if you want to let the nice folks

from the Ministry of Snatch Your Resources tiptoe through your tamaracks taking photos and making notes as they go, you go right ahead…I’ll pass, thanks. There’s quite enough property rights predation going on already – no need to invite the varmints into my hen house. The entire CLTIP program is based on the dishonest claim that all this natural habitat is being preserved for the “greater public good” … and that just doesn’t pass the sniff test. If that was really true, all the No Trespassing signs would be torn down and these lands opened up for the enjoyment of the very public that subsidizes them. Jamie MacMaster and his wife Louise Secours-MacMaster are sales representatives with Storm Realty in Cornwall, Ont. Jamie is also a director of the Canadian Landowner Alliance, a property-rights advocacy organization. REM

Growing market share

IS WHAT WE DO We are th hrilled to welcome Don McIvor, Colleen McDonald and the Royal LePage Hallmark team to the Royal LePage family. Royal LePage’s Saskatoon market share has increased by almost 170%* with this addition of Hallmark, formerly the #1 independent brokerage in Saskatchewan. Congratulations to Gary Emde and Norm Fisher, the new broker/owners. “ Hallmark Realty and its people have a long history of professionalism and service excellence in the Saskatoon market. We are thrilled to join forces with them in a move that signiﬁcantly alters the real estate landscape in our area.”

Partner with a leader. Join Royal LePage.

– Norm Fisher, Owner Royal LePage Hallmark, Royal LePage Vidorra

royallepage.ca/franchising *Market share statistics as of December 31, 2014 complied from the Saskatoon Region Association of REALTORS®. This is not intended as an offer to sell or a solicitation of an offer to buy, including a solicitation of any sales representatives or broker that is currently under contract. All ofﬁces are independently owned and operated, except those marked as “Royal LePage Real Estate Services Ltd., Brokerage”, “Royal LePage West Real Estate Services” and “Royal LePage Sussex”. Any copying, reproduction, distribution or other use of these materials is prohibited. ©2015 Brookﬁeld Real Estate Services Manager Limited. All rights reserved.

Real Estate Council of Ontario’s Board of Directors election is just around the corner…

YOUR VOTE IS YOUR VOICE: VOTE ONLINE. No line-ups.

SPEAK UP!

No excuses. Do your part as a proud real estate professional by voting and having your say on RECO’s leadership.

Your

VOTE MATTERS. Voting will open on

April 9.

Check out the candidates in your region by visiting

www.reco.on.ca.

If you have trouble finding the email or trouble logging in to vote,

contact Computershare toll free at 1-800-564-6253, mentioning that you are a voter in the Real Estate Council of Ontario election.

32 REM APRIL 2015

Real Estate Marketing Solutions

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WE DELIVER! Targeted Neighbourhood Newsletters: Versions include Single Family, Condo, City-Specific - and more!

Good Works

entury 21 Canada offices fundraised their highest amount ever for Easter Seals Canada, donating nearly $650,000 in 2014. Internationally, the Century 21 System raised US$2.9 million for Easter Seals

families – 19 per cent more than in 2013. The Canadian offices also broke international records, claiming seven of the top 21 Easter Seals fundraising rankings for the brand in North America. The top offices,

listed by their international rank: • #3 Century 21 B.J. Roth Realty, Barrie, Ont. • #5 Century 21 Dome Realty, Regina • #6 Century 21 Fusion, Saskatoon • #8 Century 21 Leading Edge Realty, Toronto • #11 Century 21 Assurance Realty, Kelowna, B.C. • #16 Century 21 Bamber Realty, Calgary • #17 Century 21 Heritage House, Woodstock, Ont. Century 21 Canada is Easter Seals’ third-largest corporate partner in Canada for total donations

Market Connections C s Inc.® Inc.® Market Connections 94 Scarsdale Road Toronto, ON M3B 2R7 Vivian Giraldi Real Estate Agent Bus: (800) 387-6058 Fax: (800) 800-7093

EA AST ND REPORT S END REPORT EAST EN EAST END REPORT Market Connections Inc.® 94 Scarsdale Road Toronto, ON M3B 2R7 Courtney Brown Real Estate Agent

Volume 9, Issue 3

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Fax: (800) 800-7093

3 Volume 9, Issue

NEW: RESALE VS. S FOR YOU?

MARKET WAT

WHAT WORK

1 5 MARKET! NO CHILL 2 IN0THIS DAYS ON

on factors Market values depend other key factors involved. Real Estate Association. location are some ® reported by the Canadian lot size and specific on MLS sales as Figures are based square footage, upgrades, Overall condition, number of bedrooms. Real Estate Association Source: Canadian

AVERAGE(TREB) President Paul Etherington SOLD Toronto Real Board NO.Estate MARKET PRICE announced a strong start to 2015, with robust year-over-year sales and average price growth in January. Greater Toronto Area reported 4,355 home sales through the Toronto MLS® system last month, representing a 6.1 percent increase over January 2014, while new listings rose by 9.5 percent during the same period. The average selling price for January 2015 home sales was up by 4.9 percent year-over-year to $552,575.

MARKET WAT CH

"The January results represented good news on multiple fronts. First, strong sales growth suggests homebuyers continue to see housing as SEMI-DETACHED a quality long-term investment, despite the recent period of economic uncertainty. Second, the fact that new listings grew at a faster pace than sales suggests that it has become easier for some people to ﬁnd a home that meets their needs," said Mr. Etherington. "Home price growth is forecast to continue in 2015. Lower borrowing costs will largely mitigate price growth this year, which means TOWNHOUSE affordability will remain in check. The strongest rates of price growth will be experienced for low-rise home types, including singles, semis and townhouses. However, robust end-user demand for condo apartments will result in above-inﬂation price growth in the high-rise segment as well," said Jason Mercer, TREB's Director of Market Analysis. TREB

FEBRUARY

MARKET WATCH JANUARY 2015

DETACHED REALTORS®

Call today to find out what’s hot in your neighbourhood!

RIVERDALE

Today’s low interest investing in a second,rates may have started y u thi thinking in investment property. you about is a fixed asset, A re rental enta an al property tangible investme attractive option for people lle looking lo ook ki nt. Before you jump for a research and assemble ahead though, ttho ough h do your your team – financial advisor iisttin ng of and your REALTOR ®one consistin o you, your .

RIVERDALE

FEBRUARY

choice – what’s your best g ng ed building? to buying a condo, When it comes one in an establish truction unit or to buying a pre-cons you’ll obviously need e to live right now, the latest Call today to get If you need somewher ngs listin available on the market. work with what’s the current and upcoming the sure e together to review updates. We’ll get price range, making dss interested in, in your ideal for your need in the areas you’re of the unit itself are n can c layout you and is that location, amenities existing building of buying into an in to both the The great advantage how you might ﬁt you’re getting and see exactly what g. unit and the buildin Today’s low couple of years? a prea new condo in a Looking ahead to thinking about buying have started you building a might for rates now interest ment due nlyy on With the down-pay you’ll need to not construction unit. h o th for two or three years, your research into that won’t be occupied but also do o ﬁnancial advisor investment sso clear this with your the stability of your builder to ensure reputation of the far in the future. next real look out for in your to discuss what to Let’s get together e andd estate decision! besides housing type

Market Connec tions Inc.®

INVEST YOUR TIME BEFOR E INVEST INGConnections Market Inc.® YOUR MONE Y

RIVERDALE CH

Volume 9, Issue 2

NO. SOLD

AVERAGE PRICE

, you’ll o obviously W gett together We’ll to as you’re a e interested menities and layout m t advantage of exactly what you’re e

DAYS ON MARKET

DETACHED 2 BEDROOM

$ 331,098

3 BEDROOM

$ 384,591

4 BEDROOM

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$ 5588,500 5 0

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25 23 22 35

SEMI-DETACHE SEMI-DE ACHED HED 2 BEDROOM BEDROO

3 BEDROOM ROO

$ 308,624

100

4 BEDROOM

$ 297,423

5+ BEDROOM

$ 429,054

$ 403,360

TOWNHOUSE 2 BEDROOM

3 BEDROOM 4 BEDROOM

s besides housinng type and ors involved.

2015

AVERAGE PRICE

DETACHED 2 BEDROOM 3 BEDROOM

$ 317,667

$ 378,779

$ 290,900

13 20 8

Figures are based on MLS® sales as reported by the Toronto Real Estate Board. Market values depend on factors besides housing type and

of Vivian Giraldi From the desk

number of bedrooms. Overall condition, square footage, upgrades, lot size and specific location are some other key factors involved. Whether you’re thinking Source: Toronto Real Estate Board of buying or selling as to yourr h real estate values home, ome or are just or are just curious your home, o in your neighbou curious as to to a of Courtney Brown From the desk rhood, you’ll w of buying or selling real estate professio want ant tto make sure you talk o make sure you om to Whether you’re thinking nal who is knowledg talk to a rhood, you’ll want eable and in your neighbou nd n d fa fam familiar mi illi with the area. with the area. real estate values eable and familiar I invite you Whether you’re thinking of buying or selling your home, or are just curious as toto call me at nal who is knowledg 800-387-6058 for on! real estate professio informati the most sstt u up-to-da p-tto te market o te market real estate values in your neighbourhood, you’ll want to make sure you talk to a to information! for the most up-to-da me at 800-387-6058 real estate professional who is knowledgeable and familiar with the area. I invite you to call Giraldi

Vivian

Tino Diodati

I invite you to call me at 800-387-6058 for the most up-to-date market information!

Courtney Brown Road, ® ns Inc. | 94 Scarsdale Market Connectio Fax: (800) 800-7093 Bus: (800) 387-6058

ON M3B 2R7 O

3 M3 Toronto, ON M

Tino Diodati Real Estate Agent

Market Connections Inc.® | 94 Scarsdale Road, Toronto, ON M3B 2R7 Bus: (800) 387-6058 Fax: (800) 800-7093

Courtney Brown Real Estate Agent

Customized Prospecting Postcards: Two sizes, fully customized to fulfil all your farming needs!

Century 21 Canada raised enough to send more than 270 kids living with disabilities to camp in 2014.

Snowmobiles gather for the Snowmobile Poker Run, organized by Ashlynn Read of Sutton Group - Select Realty in London, Ont. Marina Russell (left) and Diana Dickey

8.5” x 5.5” 6” x 4” Vivian Giraldi Sales Representative

Turning your Realty Dreamss into Reality!

416-223-2250 ext. 246

vivian@marketconnections.com www.realtyreport.org

1 c. ﬂour ½ c. cornmeal 2 tsp. baking powder ½ tsp. salt 1 ½ c. blueberries ¼ tsp. cinnamon 1 c. plain yogurt

1 c. sugar 3 eggs 2 tsp. grated lemon zest ½ tsp. almond extract ¼ c. vegetable oil ¼ c. icing sugar (optional)

1. Preheat oven to 350°F. Grease and ﬂour a 9”x5” loaf pan. 2. In a large bowl, whisk together ﬂour, cornmeal, baking powder and salt. Stir in cinnamon and blueberries. 3. In a separate bowl, whisk together yogurt, sugar, eggs, lemon zest, almond extract, and vegetable oil. 4. Stir the dry ingredients into the wet ingredients until just combined. 5. Pour mixture into prepared pan and bake for approx. 55 minutes, or until a skewer inserted comes out clean. Cool in pan for 10 minutes before turning out onto cooling rack. Sprinkle with icing sugar if desired and enjoy!

Market Connections Inc.® 94 Scarsdale Road Toronto, ON M3B 2R7

94 Scarsdale Road Toronto, Ontario M3B 2R7

This is not intended to solicit buyers and sellers under contract with a broker.

Courtney Brown Marketing Specialist

Tel: 800-387-6058 courtney@marketconnections.com www.marketconnections.com

Acquire Leads Increase Listings Escalate Sales

For details and pricing information contact:

Kyle Hislop camped out on the roof of his brokerage from Feb. 2 to 6 to raise funds for the local shelter.

Ashlynn Read

courtney@marketconnections.com vivian@marketconnections.com tino@marketconnections.com facebook.com/realtyreport

1-800-387-6058 www.realtyreport.org

Royal LePage Saskatoon hosted its 13th Annual Funspiel recently.

Comedy for a Cause raised $7,670 for the local shelter.

REM APRIL 2015 33

contributed. Since 2009, Canadian System members have raised nearly $3 million for Easter Seals and the Kids to Camp program. I I I

Kyle Hislop, a sales rep at Royal LePage Wheeler Cheam Realty in Chilliwack, B.C., was brainstorming fundraising ideas for his upcoming Machu Picchu Challenge for Shelter. He was looking for something that would stand out in his community and raise significant awareness for his local women’s shelter. “I figured living on a roof in the middle of winter would work,” says Hislop. “I also knew it would demonstrate how much my colleagues and I care about our community.” From Feb. 2 to 6, Hislop camped day and night on the roof of his brokerage’s office, while collecting pledges from nearly 100 donors. On his final day, Hislop was welcomed from the roof by representatives from Ann Davis Transition Society, who were elated to learn that $8,100 had been raised to help women and children escaping violence. Participants in the Machu Picchu Challenge for Shelter will be trekking to the lost city of Machu Picchu, Peru in August 2015. Trekkers from Royal LePage offices across Canada must raise $5,000 each for their local women’s shelter and cover their own travel costs. I I I

Recently 143 snowmobilers in Lucan, Ont. came together to enjoy a day of winter fun, a hand of poker and good company to help sick children. The third annual Poker Run broke previous attendance and fundraising records with $2,500 for the Children’s Health Foundation. Snowmobilers gathered at organizer Ashlynn Read’s farm in Lucan and then travelled to designated locations to receive playing cards. At the end of the journey, participants discovered whether their poker hand could win them any of the prizes donated by local businesses and farms. Read, a sales rep with Sutton Group - Select Realty in London, says money was raised through entry fees, a 50/50 draw, donations and proceeds of a chili dinner. She launched the Poker Run in 2013. I I I

Royal LePage Saskatoon host-

ed its 13th Annual Funspiel in support of the Royal LePage Shelter Foundation recently. Eleven teams and guests participated in the curling, which was followed by dinner and an awards ceremony. The event raised $5,911 for local shelter Saskatoon Interval House. “While raising funds for our local women’s shelter is the primary goal, our Funspiel also provides a fun and social atmosphere,” says Matt Miller, one of the organizers. The team captained by Lorri Walters of Royal LePage Saskatoon emerged victorious, although rules were designed to allow for people of all skill levels to enjoy. Jim Bridgeman, Lionel Betker and Lorri Walters rounded out the organizing team. I I I

Sutton Group - Seafair Realty in Richmond, B.C. is donating a minimum of $5,000, plus the skills and time of sales reps and staff to help build six houses with mortgage-helper suites. They will work alongside the families who commit to contributing 500 hours of “sweat equity”. For the first time, the new owners will have the option to obtain trade apprenticeship training to increase job prospects in the construction industry. “Our team consists of 12 to 16 Sutton Group - Seafair Realty members who will work on all aspects of this Habitat for Humanity Greater Vancouver project from electrical to painting to landscaping depending on the progress of the build,” says sales rep Diana Dickey. Sales rep Marina Russell says, “At the end of the day it’s about giving back to the community through multiple facets. Habitat for Humanity is the perfect vehicle allowing us to do this on a multitier level.” I I I

To raise funds in support of her upcoming participation in the Machu Picchu Challenge for Shelter, Lorraine O’Quinn of Royal LePage ProAlliance Realty in Trenton, Ont. organized a fundraising evening featuring Yuk Yuk’s comedians Chris Quigley and Dylan Mandlsohn. Held at the Empire Theatre in Belleville, Ont., Comedy for a Cause attracted more than 500 people and raised $7,670 in support of Three Oaks Shelter via the Royal LePage Shelter Foundation. REM

34 REM APRIL 2015

3D listings provide in-person view By Yvonne Dick

here’s a new tool in town for real estate listings – 3D photography. The pictures taken by this camera are walkthrough inspired video listing photos. Think Google Earth inside the home. Trying it out on one listing, you can walk around the kitchen, read magnets on the fridge, check out the pantry contents and then cruise smoothly down the hall to the bathroom, bedrooms and front entryway without leaving your desk. Want to see upstairs? Follow the lightly outlined circles with your mouse, click the view you want from the stairs and be on your way through the home. Sara MacLennan, marketing director of Liv Real Estate in Edmonton, says, “For a seller this technology can significantly decrease the number of unsuccessful showings. It’s a real time saver for home buyers and sellers alike. Buyers can experience a home on their mobile device or computer and decide if it’s worth a look in person.”

Formatted differently than a standard digital photo, 3D photography must be hosted by a specialized site in order to be viewed. Liv Realty uses Matterport, a manufacturer of the cameras. To understand why people are so excited about the technology, a quick primer on what can and cannot be done with digital cameras: Stereography has been called 3D digital photography. It is done using any camera and requires two photos of the same thing lined up close together. Viewed normally, they look like two photographs side-by-side, and like they are one picture with dimension when you look at them cross-eyed. But having to look at pictures of a listing cross-eyed is probably not a selling point. 3D consumer cameras will take a picture of an object close up. The quality is not as good as a computer-walkable house view that Matterport and other manufacturers can offer. Cycloramic photos can be

done using smartphone software and offer the chance to rotate the camera manually or on a small motor to get a 360-degree view of a room. They do not offer the option to seamlessly transition from far away to close up and to cross through doorways into other rooms. As a trained photographer herself, MacLennan gives the Matterport camera thumbs up. “I tried it out, checked over the settings to see what it was capable of,” she says, “It’s not very hard to use. There is a subscription fee to have the pictures hosted on their site. We contract out to a photographer who takes approximately an hour and a half to shoot a listing. Then it can be uploaded to the site, and three hours or so later it’s ready to view.” Controlled by tablet, the Matterport camera sits on a revolving base that gently spins. It calculates dimensions, colours, contours and spatial relationships of objects in the room. MacLennan says it

will give the photographer feedback about the best place to set the camera in order to capture the largest possible perspective, and also to see if an area will need a retake before the photographer leaves the house. Its special website hosting platform also serves as the software that stitches together all of the information obtained by the camera about an area, giving it a realistic look and feel, which doesn’t compare to other styles of photography. The price for quality doesn’t come cheap, however. The company currently sells the Matterport 3D Pro for $4,500 plus shipping. Additionally, they do not ship to Canada. In order to obtain one, a buyer will need to find an importer to complete the transaction from purchase to customs to final delivery. MacLennan says it’s worth the price. “We got a phenomenal response when we started putting our listings up in 3D,” she says. That trend has continued, and as

The Matterport 3D camera

an add-on feature for showcasing and selling a house, she believes that once enough people are able to see the results for themselves, it just might be the future of marketing technology in real estate listings. To get a look, go to https://www.edmontonrealestate.p ro/liv-real-3d.php or the Matterport site at https://matterREM port.com/try/.

PAUL FITZPATRICK,

RUSS ROBIDEAU,

VINCE CAVALIERE,

At Home Realty Group Inc. Brokerage. Guelph, ON

Professional Realty Group. Edmonton, AB

River City Realty. Kamloops, BC

Broker/Owner

SHEP ABBEY,

SHERRY MACLEOD,

Royal Service Real Estate Inc., Brokerage. Newcastle, ON

Abbey & Olivier Real Estate Agency. Beaconsfield, QC

Broker/Owner

JANICE PARISH, Broker/Owner

Broker/Owner

Cape Breton Realty. St. Peter’s, NS

Make The Connection With Leading Independent Brokerages From Coast To Coast And Around The Globe

www.aventurerealty.ca

REM APRIL 2015 35

5 key points about buyer representation agreements By Mark Weisleder

here continues to be debate across the country about whether real estate agents should use a buyer representation agreement (BRA) prior to working with buyers. Some agents say that they would never sign one and have long relied on the trust and the relationships that they have established over the years. They are not concerned with a customer using their services and then later trying to avoid paying them by going directly to the seller or to the listing agent. Others state that due to the time and financial commitment they are making to buyers, they want to have the BRA signed by the prospective buyers to demonstrate that same level of commitment to them. Others state that they only sign the BRA at the

LEGAL ISSUES

By Donald H. Lapowich

note a very interesting case in Arizona called Desert Palm v. Petta. At the trial stage a disgruntled patient was found liable in defamation and libel for an article she posted online about alleged unprofessional behaviour and incompetence of the plaintiff doctors. The court required the defendant Petta to remove the posting from her website, which she did. In a jury trial, the doctors were awarded some $12 million but on an appeal the court was not pleased with the amount awarded and certain aspects of the trial. The

time the first offer is presented. Based on recent case law and public reaction to BRAs in general, here are five things to remember: 1. It is hard to claim commission without a signed BRA. In a recent decision, an agent introduced a buyer to a property without a signed BRA. The buyer went directly to the listing agent and advised the listing agent that they were not working with any buyer agent. The listing agent then had them sign a BRA with them so they were acting in dual agency, or multiple representation. The listing agent received the full commission payable. The buyer agent sued the listing agent for “unjust enrichment”, stating that they had done the work in introducing the buyer to the property and deserved to share in the commission. The court disagreed, stating that without a signed BRA, no claim could be made. 2. Can a buyer agent sue a buyer directly when no BRA is

signed? This is a difficult area of the law. With no signed BRA, a buyer agent must do more than introduce a buyer to a seller or to a seller’s property. They must also participate in the negotiations for the purchase and have an expectation of being paid commission. Without this, it will be difficult to claim commission from the buyer. 3. Is taking a buyer to court for commission a good idea? I always try and discourage people from going to court, for the simple reason that decisions are made public and are then shared on the Internet. In a recent case, a buyer brokerage was successful in collecting $12,000 in commission against a buyer who signed a 12-month BRA and then purchased a home during the holdover period. Although this was a good result for the brokerage, there was substantial negative publicity associated with this case, as the media reported that the salesperson signed the buyer to a 15-month contract

without explaining it to him and collected commission even though he did not represent the buyer in the actual transaction. 4. What some buyers do to avoid paying commission, even with a signed BRA. In my experience, buyers will state that they signed the BRA late at night, without any explanation, at the time the first offer was prepared, and that no copy was left with them. They understood that if the offer was accepted, the buyer agent would be paid but if not accepted, there would be no future obligations. This is also the subject of many complaints made to the Real Estate Council of Ontario, by buyers stating they were never made aware when they signed the BRA that the term would be for a minimum of six months. 5. How do I make sure I use the BRA properly? It is better to properly explain the BRA and have it signed as early as possible in the process, preferably before you

are about to prepare a first offer for the buyer. Do it the same way every time. This means that all terms of the BRA are properly explained, including the initial term and any holdover provision. The term of the agreement, even if six months or less, should always be initialled by the buyers, to make sure that it was properly explained. Always give a signed copy of the BRA to each of the buyers immediately upon signing. When you explain agreements carefully, buyers will be less likely to try and avoid paying you commission. By understanding your rights and obligations regarding the BRA, it is hoped that it can be used as a source of building loyal client relationships and protecting your commission at the same time. Mark Weisleder is a partner, author and speaker at the law firm Real Estate Lawyers.ca LLP. Contact him at mark@realestatelawyers.ca REM

Online rating websites Arizona Court of Appeal ordered a new trial. It seems “all the rage” to rate your professional online. I note that many individuals do not sign their rating and yet give a very negative and demeaning comment about the professional’s competence and ability. It will be interesting to see if someone challenges such an article. ■ ■ ■

Conversion of a legal non-conforming use: A property owner leased premises to a tenant who operated a traditional bar, selling alcohol. This was not authorized by the municipal by-law but was a non-conforming use. Subsequently, the owner leased the premises to a third person who decided to operate a juice bar. The venture was unsuccessful and the third party had to close up. The owner who retook possession applied to operate the traditional type of bar (alcohol) and the

municipality objected. When the owner brought a motion seeking a court order that it had the right to the non-conforming use, it was found that there had been a “change in use”, which extinguished the non-conforming use. The premises could no longer be used for the sale of alcohol. There was no doubt that the non-conforming use had ceased (or had been interrupted) and that the owner was fully aware of the change to a juice bar.

negligent misrepresentations and were honest. They also did not try to conceal “a latent defect” even though they painted the basement floor to make it look cleaner. This was on the advice of their real estate agent. Obviously the credibility of the individuals convinced the judge that the representation and act of painting the floor did not supersede the vendor’s honesty. Clark v Styles, 2014 SKQB 343

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Earned commission: A brokerage entered a Listing Agreement for the sale of a property. During the time of the listing, the brokerage, through its agent, introduced the eventual purchaser but no Agreement of Purchase and Sale was forthcoming. The listing continued the right to a commission if “written notice” was given by the brokerage that it introduced the purchaser during the listing agreement.

Credible vendors: The plaintiff agreed to buy the defendant’s home. The vendors had made a disclosure that there was never any water entering their basement during their ownership. Once the purchasers moved in they found that water was leaking from cracks in the wall. They brought an action. The court found that the vendors were not negligent, did not make fraudulent or

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Three and one-half months after the expiry of the listing agreement, the purchaser signed an agreement to purchase the property. After the sale closed the brokerage submitted an invoice to the vendor for commission on the sale. The vendor did not pay the invoice and the brokerage commenced an action for payment. The Court of Appeal held that the commission was not payable to the brokerage because of the lack of written notice of the prior introduction. On a quantum meruit basis the court allowed the brokerage $20,000 for services provided after expiry of the Listing Agreement. Ariston Realty Corp. v. Elcarim Inc., 2014 ONCA 737 Donald Lapowich, Q.C. is a partner at the law firm of Koskie, Minsky in Toronto, where he practices civil litigation, with a particular emphasis on real estate litigation and mediation, acting for builders, real estate agents and lawyers. REM

36 REM APRIL 2015

Is your business about money or people? By Ross Wilson re you about to indulge in bombastic self-promotion with colossal photos and boastful, self-congratulatory slogans plastered everywhere? Or to encourage referrals and repeat clients, do you prefer to maintain a low-key style with regular contact – in person or digitally – with a “farm” area and/or warm sphere of influence? Your choice will clearly depend on your belief system and personality type. If effectively executed, both methods – mass advertising and personal prospecting – can be highly productive. However, the former demands a substantial

financial commitment combined with a co-ordinated long-term strategy, while the latter can translate into delayed gratification and initially, at least, an unspectacular income, not to mention possible conflicts with the privacy police. The personal networking method may not rocket you overnight to superstar status, but you could enjoy the benefit of a considerably longer career – with lower overhead. Once on the self-promotion road, during a busy period or while on sabbatical, for example, you might suspend advertising. Ads are primarily designed to make the phone ring. And if you’re busy enough – or prefer to not be – why spend the money? But during such gaps, since you depend mainly on new client generation rather than referrals and returning clients, the public may, at least temporarily, forget about you. Any noted absence of your mug in the paper –

no matter how brief – could be construed as failure. Therefore, to enjoy a durable career, personal promotion programs must be relentless. On the other hand, regular contact grooming is not only less expensive than complex megacampaigns, but if you temporarily suspend active connecting, since your business is based on personal relationships, contacts won’t necessarily assume you’ve quit. The bonus of working with friends – old and new – is that it can be both financially and emotionally rewarding. Familiarity and trust are common companions and trust breeds referrals. A big name’s voluminous business is certainly a commendable goal. Nevertheless, after an expensive effort, if fame remains elusive, only their ego is fed – not their credit union account. Their face on a few park benches or a small weekly newspaper ad probably

equates with a personal contact through their network every few years; in other words, not very effective. However, a carefully orchestrated and continuing strategic advertising campaign, with one medium consistently complementing and reinforcing another, generating a repetitive public perception of success, can achieve excellent results. But don’t stop until you’re ready to retire or you risk losing that coveted “front of mind” real estate known as public awareness. When it’s time to move, though, no matter how much money you’ve spent in the neighbourhood, many homeowners will still turn to a friend in the business because they’re more moved by established, trusting and amiable association than by mailbox pomp and pageantry. Having said all this, if you expend neither time nor money, your old clients will likely call a local megastar or a new

Real estate photography – Is that a haystack? By Dan St. Yves

ack in the pioneer days when I first held my real estate licence (closely, as it was very windy out on the open prairie astride my buckboard), I should have considered using a professional photographer for listing sheet brochures. Sure, it only happened maybe two or 18 times, but when you can’t tell a stationary house from a moving cube van, perhaps you shouldn’t be gluing those pictures on to a listing sheet. It’s fairly common practice now to use a professional stager and even more common to get a professional photographer to come in before you begin your marketing campaign for a new listing. They might take a week or two, working with optimum times for daylight and artificial sources to capture

photos worthy of hanging on a wall in a gallery. Once those puppies are incorporated into brochures crafted by a team of unemployed, Pulitzer-prize winning journalists and retired best-selling novelists looking to make a little extra money for beachfront Margaritas, the home goes on the market and sells in an hour – typically for well over the asking price. It may be hard to believe, but there was a time in the real estate business where you once had the homeowners brandishing weapons to encourage you to move as quickly as possible to attract a sale. You would take pictures (at that particular time in the technology curve) with a .05 megapixel digital camera that saved images to a floppy disk. On occasion, all your work would get erased simply by attempting to transfer the floppy disk from the camera to the computer, so you had to discreetly break into the home when the

owners were away, to retake all the photos. During daylight hours, with no witnesses. Once the blurry images were safely transferred on to your computer, you would sort them from “least blurry” to “is that a haystack?” The company I started out with back then had feature sheet property boards that we used in the local shopping malls, with a few small picture spaces well suited to images shot from a speeding car going over multiple potholes. While dangling your camera from a Slinky. One space was for a large 8x10 shot and that was where I often struggled. Most times I could rely on my silver tongue to assure homeowners that the picture they were looking at was absolutely their own home and not a battered fourdrawer lateral filing cabinet recovered from a riverbed. The only time that method didn’t work was when I listed the home of a noted local photographer, who used a real camera and was

not likely to be swayed by my lawyer-like closing arguments in favour of convincing him his home was anywhere remotely located in my frame of the shot. As a matter of fact, he accompanied me during the photo shoot and I could tell by the clucking behind me he either had a hen in his coat pocket, or he disapproved of my efforts. Turned out to be the latter. He offered to take his own shots, for a nominal reduction in his professional fees. I’m sure I don’t have to tell any of you, it’s far better to appear as professional as possible than it is to let pride and bad photography skills get in the way of the best possible service you can provide for a client. Humour columnist and author Dan St. Yves was licensed with Royal LePage Kelowna for 11 years. Check out his website at www.nonsenseandstuff.com, or contact him at danst.yves@hotmail.com. REM

friend in the business who is making the investment. To passively influence a small portion of the multitude, you can spend more money and less time. Or for active influence, you can spend less money and more time – possibly achieving the same net income. In my view, time is far more valuable than money since without the time to appreciate the quality of life to which money can contribute, digits in an account are essentially valueless. One could argue that investing the more valuable resource of time can achieve more valuable results. Intermittent investment of advertising dollars normally generates only short-term results, if any, whereas an investment of your time, because you’ve built lasting relationships, can produce sustainable, long-term results. There’s no doubt that if done right, either style can be highly effective. It’s your choice, but whatever style you choose, be consistent. Also, keep in mind that we don’t sell real estate; only property owners do. We are actually people persuaders. Do you think your business is all about money or people? Where are your priorities? It’s been said that it’s better to know a few people well than many people a little. Think about this; would you prefer to prospect in a crowd of 1,000 strangers where you’re forced to sell yourself in the hope of winning trust? Or perhaps in a group of 50, all of whom know your first name and have faith in you? I’d rather have one great friend than an endless list of casual acquaintances. I suggest that most people prefer to associate with someone they trust over another with a big mouth and deep pockets. Trust wins virtually every time. Ross Wilson, broker with iPro Realty, has enjoyed a rewarding fourdecade career encompassing a highly productive referral sales practice and extensive experience as a brokerage owner, manager, trainer and mentor. His new book, The Happy Agent – Finding Harmony with a Thriving Realty Career and an Enriched Personal Life is available where print and e-books are sold, including the TREB, BREB and OMDREB stores. He may be reached at www.realty-voice.com. REM

REM APRIL 2015 37

Tech review: The BlackBerry Passport By William Molls

made the switch to iPhone from BlackBerry about four years ago. As I grew increasingly frustrated with my old BlackBerry’s limited capabilities, and more and more impressed with the seemingly limitless possibilities of the iPhone, making the switch to Apple’s device became an easy decision. But to this day, there’s still something I miss about my old BlackBerry that the iPhone has never been able to beat: That wonderful, familiar, tactile keyboard. The truth is, the longer I’ve had my iPhone, the more it’s become clear to me: This touchscreen keyboard thing isn’t working out. I don’t know how many times I’ve had to type, retype and retype again a word that either my thumbs or iPhone’s autocorrect, or both, have mangled into nonsense. Writing anything longer than a few quick paragraphs is out of the question. So right on cue arrives BlackBerry’s new Passport, featuring an actual, physical keyboard. With its arrival, I find myself confronting the same dilemma as before: Do I really want all the exciting bells and whistles that come with Apple’s device, or a sleek, professional, work-oriented smartphone with that trusty QWERTY keyboard I’ve been missing so much? Passport isn’t just a clever name. The new BlackBerry device is exactly the dimensions of an actual passport, giving it a unique wider, bulkier build than most smartphone devices. This accommodates a larger, square screen with a 1:1 ratio that mostly eliminates the need to rotate back and forth between portrait and landscape orientations. The wider build means this device’s keyboard is exclusively for two hands, so typing a quick “On my way” while on the go is more of a challenge. But to be honest, in day-to-day use I rarely type anything one-handed on my current device to begin with, and the Passport offers reliable and straightforward voice commands (more reliable than its competitors

at times) that make sending a message or making a call hands-free from the headset simply an easier option. The keyboard is also only three rows – no numbers or punctuation marks, which are reserved for a fourth touchscreen row that appears when typing. The wide and narrow shape is a bit awkward and can certainly take some getting used to. But even so, the keyboard has some nifty new tricks. While the touchscreen offers all the expected gestures (scrolling, pinching to zoom in and out, and so on), those who miss the old BlackBerry touchpad will find that the keyboard itself now fills this role.

The Blackberry Passport

Quickly scrolling up and down through a message can be achieved using the same familiar flick of the thumb that’s still locked in your muscle memory, but this time across the touch-sensitive surface of the keyboard itself. The Passport runs on BlackBerry 10.3 operating software, which does a great job of being fast and responsive and, importantly, not getting in the way. It’s built around “The Hub”, which does its best to bring together your messages, social media and calendar all in one place at a quick glance. Menus are easy to navigate, and, for the most part, apps are easy to find. Speaking of apps, the Passport can now run Android apps via the Amazon Appstore, but the selec-

tion is still limited – Google apps aren’t on offer, though Google Calendar works well enough and integrates with “The Hub”. One useful new BlackBerry exclusive app is BlackBerry Blend – an app that promises to let you view and send messages and content from your Passport to your computer or tablet and vice-versa, letting you seamlessly transition between devices without losing productivity. As for battery life, despite the large screen and powerful quadcore, Qualcomm Snapdragon 801 processor and 3GB of RAM, the Passport has pretty incredible stamina – easily lasting an entire day and beyond. The Passport also sports a 13 megapixel camera that can shoot in 1080p HD video at 30 or 60 frames a second – the most powerful of any BlackBerry device before it – as well as a basic but functional front-facing 2 MP camera. The camera app can be a bit sluggish, but produces photos of a quality on par with other smartphone devices in its class. It’s by no means stellar, but it does the job. While the keyboard itself isn’t perfect – personally, I anxiously await the BlackBerry Classic, which offers the familiar keyboard shape of the old BlackBerry Curve – it’s still a big improvement over its touchscreen competitors. How important that is to you will largely depend on how much you find yourself typing and sending messages. The Passport is definitely a unique device, given its unorthodox shape and form. But make no mistake; this device was built with a razor-sharp focus on productivity. This phone is all about business and is an excellent fit for a workoriented real estate professional who is okay with going without the bells and whistles of offerings from Samsung or Apple – or, as I found, anyone who misses having a physical, tactile keyboard for typing as much as I do. William Molls is REM’s digital media manager. Email web@remonline.com. REM

Announcement RE/MAX CORE Realty opens their doors in Ottawa! RE/MAX INTEGRA, Ontario-Atlantic Canada is pleased to announce the opening of our newest ofﬁce in Ottawa, RE/MAX CORE Realty. Broker of Record Eli Skaff has been a REALTOR® and has operated as a top performing team with a competitor since 2010. He is joined by another top performing team, Marc Evans and Tarek El Attar, as well as a long time area manager and Tom Ferry coach, Jarrod Davis. These four partners are focused on creating an innovative and leading-edge brokerage, combining proactive leadership and facility amenities uniquely designed to support and promote top producing agents. Within the ﬁrst 2 weeks of opening they already have 22 agents. We are pleased to have them as part of our RE/MAX network and are looking forward to seeing the growth of this new company. Please join us in welcoming RE/MAX CORE Realty Inc.

RE/MAX CORE Realty Inc. 485 Industrial Ave, Ottawa 613-699-6870 Left to Right: Eli Skaff, (Broker/Owner), Marc Evans, Tarek El Attar, Jarrod Davis

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38 REM APRIL 2015

REALTOR® JOB OPPORTUNITY

orda Maisey is the 2015/16 president of the Fraser Valley Real Estate Board, replacing outgoing president Ray Werger. Maisey has been a licensed Realtor for more than 20 years and is a sales representative with Re/Max Little Oak Realty in Fort Langley. The president-elect is Charles Wiebe, Re/Max Little Oak Realty, Fort Langley and the VP is Gopal Sahota, Sutton Group - West Coast Realty, Surrey. Directors elected to the board are: Larry Anderson, Sutton Premier Realty, Surrey; John Barbisan, Sutton Premier Realty, Surrey; Sandra Benz, Re/Max Performance Realty, Delta; Manny Boparai, Century 21 Coastal Realty, Surrey; Karen Conyers, Sotheby’s International Realty Canada, Surrey; Jim Cox, Re/Max Aldercenter Realty, Aldergrove; Darin Germyn, Macdonald Realty, Surrey; and Dharbinder Singh, Century 21 Coastal Realty, Surrey.

SUN RIVERS RESORT COMMUNITY

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A racted to a 6-ﬁgure real estate sales posi on? Are you a new or experienced REALTOR® wan ng to relocate to sunny central BC to build your career? Are you a team player with an open mind? Desire to have business expenses paid? Like the sounds of strategic marke ng eﬀorts delivering prospects to you?

Greater Moncton Realtors du

Grand Moncton elected André Malenfant president of the board recently. He brings 18 years of real estate experience to the position. “I am excited to be the president in the year we celebrate our 60th anniversary of running the MLS system in Greater Moncton,” says Malenfant. “Our mission is to be an industry leader, providing relevant, innovative member services which equip our Realtors to deliver exceptional service to consumers. And in 2015 our actions will prove this commitment. Our members will be receiving a major update of their MLS technology to serve their clients,” he says. Also elected to the Board of Directors: 1st vice-president Ryan Davison; 2nd vice-president Trent Wilkins; secretary-treasurer Jesus Machado; and directors Miranda Burnett, Erika Jones and Josette LeBlanc. The past-president is Ricky Cormier and the EO is Kerry Rakuson. ■ ■ ■

In addition to supporting local charities directly, the Durham Region Association of Realtors (DRAR) also supports the Ontario Realtors Care Foundation. Each month, every DRAR member donates $1 to the foundation, which provides grants to Ontario charities. DRAR recently announced that the recipients of its 2013 charitable contributions have been approved for additional funding through the foundation. The Refuge is a Christian charitable organization dedicated to offering help to homeless and street youth in Durham Region. Precious Minds provides support to families in north Durham Region with children who have barriers to learning. The Charles H. Best Diabetes Centre promotes positive integration of diabetes management into the daily life of children, adolescents and young adults and their families. ■ ■ ■

The Kitchener-Waterloo Association of Realtors recently presented $14,000 to Habitat for Humanity Waterloo Region (HFHWR). The donation came as a result of HFHWR’s successful grant application to the Realtors Care Foundation. Since 1999, the foundation has given more than $2 million in grants to eligible organizations. REM

Sun Rivers Realty is seeking a highly mo vated REALTOR® to join our team. New and experienced individuals are invited to apply. Follow your passion by helping buyers select some of the finest resort lifestyle homes in the Southern Interior. Full details and the benefits of working with Sun Rivers Realty are available online at www.sunrivers.com—just click on ‘About Us’. Please submit your le er of applica on and resume to: Sun Rivers Realty Ltd. A en on: Sheri Lakusta, Office Manager 1701 Sun Rivers Drive Kamloops, BC V2H 0A2 E: employment@sunrivers.com P: 250.377.7722 F:250.374.0374

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The Windsor-Essex County Association of Realtors (WECAR) recently announced its new Board of Directors. Back row, from left: Barbara Manery, director, from Re/Max Preferred Realty; Julianne Green, director, a broker with Re/Max Preferred Realty; Jeanette Vallance, director and broker of record for Vision Realty Windsor; and Tina Roy, director and broker with Remo Valente Real Estate (1990). Front Row: Bill Courtney, past-president, from Century 21 Request Realty; Cameron Paine, president, a broker with Buckingham Realty (Windsor); Krista Del Gatto, EO of WECAR; and Norman Langlois, president-elect, of Regency Realty.

Top row, from left: Kathy McFadden, chair of DRAR’s Charity Auction Committee and committee members Noel Coppins, Denise Langille, Eileen Dodd, Lisa Smith and Scott White. Bottom row: Janelle Dayman from Precious Minds; Clarence Keesman of The Refuge; and Laura Mountjoy of the Charles H. Best Diabetes Centre for Children and Youth. André Malenfant

REM APRIL 2015 39

AS I SEE IT FROM MY DESK

By Stan Albert

ow far does duty of care as prescribed by the provincial regulators carry an obligation on a registrant? I have served on my condo board in the past. Our current board is faced with a major reconstruction of our B1 and B2 levels.

THE LEBOW REPORT

Duty of care All the membranes have to be replaced and one entire wall rebuilt. The cost is enormous but we are covered by our reserve fund. The status certificate, upon review, will indicate that everything is in order with the exception of the details of the work to be done and approved. So, how much does a real estate salesperson have to involve himself once he discovers that there is a great deal of work to be done in a condo building? Does he, for example, have to inquire how long will it take for the work to be done and what disruptions and/or inconveniences it may cause to a poten-

“Brands evolve over time. They build and expand based on one theme or story they are trying to tell, or they are about constant reinvention.” - Madonna

thing more than a cursory knowledge of the status certificate. It only requires that a certificate must be provided within a reasonable time limit. So many sales reps’ flyers that I receive extol the virtues of their listings without truly investigating what lies beneath the status certificate. On a personal note, my thanks go out to those of you who expressed concern about my health. I am happy to say all is well. Stan Albert, ABR, ASA is a consultant with Re/Max Premier in Vaughan, Ont. He can be reached for consultation at stanalb@rogers.com. Stan is now celebrating his 45th year as an active real estate professional. REM

We don’t want one of us was in a seminar with people from different fields outside of real estate and I loved hearing their stories as they brought new perspectives to the room about sales. One of the topics we hit on was grooming or dressing for success. I want to relate a story that I found quite interesting and has stayed with me for years. A good-old-boy, third-generation farmer from a long-established family in Ontario’s former tobacco country wanted a different career and had the desire to get into financial planning.

By Barry Lebow

tial buyer? In our building, in which we have lived for nearly 20 years, this is the second retrofit that we are going to experience. The first experience involved not only noise and dirt for the heavy equipment on site, but the major irritant was that the cars that normally park in B1 and B2 levels had to park in various locations around the building, on the street or in nearby park lots. Condos that are 20- to 40years-old, which are mainly of brick and/or concrete construction, begin to deteriorate. Wind, rain, winter weather and climate change have caused the exterior

walls to become extremely porous and have caused damage to the interior walls of many unit owners’ property. Many boards will have to consider “enveloping” their buildings with a plasticized concrete, which is a reasonable and attractive solution to prevent further deterioration. In Canada we have experienced countless litigation questioning a registrant’s duty of care. Where does the duty of care begin or end? Is it not a registrant’s duty to inquire or to investigate whether the building in which he plans to sell a unit to a potential buyer may be contemplating major retrofits? At present in Ontario, the Real Estate Council of Ontario does not require the registrant to have any-

He thought it out and then went from farm to farm to see all his relatives and other people that were intertwined with his family for generations. He drove in his pick-up truck and wore his jeans and baseball cap. For six months, he called and called and didn’t make one sale. In despair, he went to a family friend, a Dutch Uncle, and asked him to tell him honestly what he was doing wrong. The old-timer said, “You come in looking like us, acting like us and you are one of us. Problem is, we don’t want one of us, we

want a professional.” The man thought on it long and hard. He decided to make a change. He borrowed a friend’s car and started wearing his Sunday suit and carrying a briefcase. Slowly, he started to make sales. Eventually, the sales grew into a very successful business. A very interesting story. I know that many of you believe that you can sell real estate wearing jeans and a baseball cap, and I acknowledge that you can – for the short game. But for the long term, the lesson this man related

WE SEE

shows that being a professional is about image, about being your own brand, of dressing for success. Are you projecting a professional image at all times or are you just “one of us?” Barry Lebow is now in his 47th year in real estate. He has had an extensive career and has been accepted by Canadian courts as an expert in real estate matters in more than 500 trials. He is an international speaker and an award-winning broker at Re/Max Ultimate Realty in Toronto. Email barry@lebow.ca REM

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40 REM APRIL 2015

What’s

economic updates and other statements as they pertain to the economy and the mortgage sector on behalf of Dominion Lending Centres, the company says.

Neighbourhood map wallpaper

New Sherry Cooper named DLC chief economist

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Dominion Lending Centres (DLC) has announced that wellknown economist Sherry Cooper has taken the position of chief economist. She began her career at the Federal Reserve Board in Washington, D.C. After five years at the Federal Reserve, she joined the Federal National Mortgage Association as director of financial economics. Cooper also served as chief economist and EVP of BMO Financial Group (which includes the Bank of Montreal in Canada and BMO Harris Bank in the U.S.). “Joining DLC as chief economist represents a natural evolution in my career,” says Cooper in a news release. “For over 30 years I represented financial institutions by providing my insights into both the Canadian and global economies; now I am pleased to add my voice to an organization that provides choice directly to consumers. Mortgage professionals are really one of the best options for consumers seeking mortgage and financing advice for a home purchase, home debt consolidation, investment properties or home refinancing.” Cooper will be advising on economic matters, issuing quarterly

A U.K. firm says its street map wallpaper murals “are proving to be a highly popular choice amongst U.K. estate agents” and is hoping to bring the concept to Canada. “These maps are completely customizable so Realtors can create a street map of their geographical area and add their own branding too,” says Michael Palmer, of Murals Wallpaper in Liverpool. “Most customers see this as a nice touch and it helps the Realtor give off an air of authority.” Palmer says the company has licenses to street maps all over the world. “If a customer would like to purchase a certain street map, they simply inform our in-house graph-

Any neighbourhood map can be turned into a wall mural

ic design team of which area code they require and describe any customization to colour or company logos they would like added to the wallpaper. In terms of realizing a design concept, our technology means the sky really is the limit,” says Palmer. Prices start from $45.30 and it takes three to five working days for the company to produce the paper. It is then shipped via UPS, which usually takes about three days, Palmer says. For information: www.muralswallpaper.co.uk/world-mapmural-wallpaper.htm

Sales reps launch referrals app

Sherry Cooper

Two Alberta sales reps are looking for industry professionals to participate in a private beta test of a new referrals app prior to the launch in late spring. Real Referrals, a mobile app, will connect

users to a growing network of top real estate professionals in every market across the United States and Canada, says the company in a news release. A free tool to help salespeople profit from referrals, the app displays an individual’s profile to other users who seek to send a qualified referral into a chosen local marketplace. The value of the system is in the exchange of referral business, the company says. “The app does not use an algorithm; it is powered by real people making genuine referrals,” says the news release. “Real Referrals can also be used by mortgage brokers and property managers.” Founders Ed DePrato and Devin Stephens, both real estate agents, built the app when they realized there was a more efficient and cost saving way to capitalize on agent-to-agent referrals, says the release. DePrato, president of Real Referrals, says, “We took an action that both of us (and everyone else in the industry) were doing every day and streamlined the process by capturing the information collection, tracking and execution into one place through the app.” Users can keep their profiles at the top of their market by sending or accepting a referral, or by inviting real estate colleagues and peers to activate a Real Referrals profile. In addition to building real estate professionals’ businesses and networks and allowing them to make referrals to different markets, the Real Referrals App also has a CRM component. The Referral Management feature helps track and follow up on referral leads sent through the app. “Agents spend thousands of dollars and endless time attending seminars with the hope of being remembered when someone else has a referral into their market,” says DePrato. “Our app places your profile into the hand of a sending agent at the moment they go to place a referral.” For information: www.RealReferrals.net. REM

The new app will officially launch in late spring.

REM APRIL 2015 41

Trade Shows and Conferences To add a listing to this calendar, email jim@remonline.com Realtors Association of HamiltonBurlington Realtor Connections AGM, Conference and Trade Show Tuesday, March 24 Hamilton Convention Centre Hamilton Sheila – 905-529-8101 x234 sheilas@rahb.ca Canadian Real Estate Association Leadership Summit Sunday, March 29 The Westin Ottawa Ottawa jdaviau@crea.ca

New Brunswick Real Estate Association Education Session and Annual General Meeting April 15-16 Delta Beauséjour Hotel Moncton http://nbrea.ca/2015-annual-generalmeeting/ 2015 AREAA Global and Luxury Real Estate Summit April 19 – 21 Trump International Hotel and Tower Chicago summit.areaa.org

London St. Thomas Association of Realtors AGM and Trade Show Tuesday, April 21 London Convention Centre London tracy@lstar.ca

Toronto Real Estate Board Realtor Quest May 6 – 7 Toronto Congress Centre Toronto www.realtorquest.ca

Mississauga Real Estate Board AGM and Exhibitor Showcase Wednesday, April 22 Mississauga Grand Banquet & Convention Centre Mississauga events@mreb.ca

HomeLife 30th Anniversary Conference and Awards Gala May 28 – 29 Fallsview Casino Resort Niagara Falls, Ont. HomeLife@HomeLife.com

The Lakelands Association of Realtors AGM and Trade Show Wednesday, April 22 Deerhurst Resort, Huntsville Kelly Warr - 705-788-1504 ext 229 kelly@thelakelands.ca

Compiled with the assistance of Bob Campbell at Colour Tech Marketing, www.colourtech.com

CANADA’S LARGEST REAL ESTATE CONFERENCE & TRADE SHOW

Trade Show features over 200 exhibitors so far! Mark Your Calendars: May 6–7, 2015 | Toronto Ma nto Congress Ce Centre Don’t miss the most exciting lineup of REALTOR® QUEST speakers ever, with 444 sessions to choose ffrom!

Spring Annual Meeting Keynote Speaker – May 6 The Future of Real Estate Sales: Five inevitable trends you can’t ignore Richard Robbins, international speaker, author, and elite business coach.

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And don’t miss: • “Condo 101: What You Need to Know from Start to Finish” panel hosted by BILD : Building Industry and Land Development • “Are You Getting Your Share of the International Market?” panel

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• CREA Membership Open House • May 7 – All-Day Commercial Course Stream

42 REM APRIL 2015

THE PUBLISHER’S PAGE

By Heino Molls

MARKETPLACE

ack in the day, when I was a young man, it was nothing to hop into your car for a road trip right across the country just for the heck of it. It was another time and it was another world with cars. Driving across the country back in the ’50s and ’60 was a grand experience. There were small towns with local restaurants that served comfort food like cheeseburgers, french fries with gravy and Coca-Cola. You could sit in a restaurant booth, talk to the locals and hear wonderful stories about everyone in town. There were motels along the roadside where you could drive right up and park by the door of your unit. They were reasonably priced and well looked after too. You had to save up a few bucks to make a trip like that but not near the thousands it cost in

See Canada this summer recent years. It could all be done very reasonably because the last thing anyone worried about was the price of gas. It only cost about 25 cents for an imperial gallon. When the ’80s came upon us the idea of doing long trips like that went out the window and a great life experience was lost to us due to soaring gas prices and corporate greed. It became far cheaper to fly and save the money. It also saved time, which had somehow also soared in value. All of a sudden we were calculating the cost of time, something we had never done before. We had time management and billing hours and the dreaded “time is money” come into our lives as new phrases and buzz words. It was a great loss, especially for young people. For what it’s worth, I see a window of opportunity to bring back those days again because of the current anomaly of low gas prices. There may be a chance to once again explore our magnificent country on the road. The way it should be. Just get in the car and drive right across the country. It is the experience of a lifetime and you won’t even need a passport.

Pictures will never do justice to what you will see. You cannot capture a place like the Canadian prairie on film. Until you step out of the car and see an endless sky over 100 miles, you will never understand what that means from a picture. It may be great to fly into Regina and see the city, but it’s nothing short of spectacular to watch it emerge from the road, growing from a small dot on the horizon to become like the Emerald City from the Wizard of Oz in the middle of a wide open space, with nothing else around. We’ll all have a chance this year to see that and more – the

Just get in the car and drive right across the country. It is the experience of a lifetime and you won’t even need a passport.

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best ones although Ontario has some nice ones too. A lot of the good old restaurants on the Trans Canada Highway from years ago are sadly gone now, replaced with fast-food joints. I have to give them credit though, almost all of them have clean washrooms ready for you and many are open all night. Most Tim Hortons restaurants are open 24/7. Many are in places you would never expect, such as way up in Espanola in northern Ontario. Many say the low gas prices we have today will not last, and if they do the government will quickly add on taxes that we never had before. Either way we may not have another chance to experience the incredible road trips from yesteryear within such reasonable cost and reach. I believe the opportunity is here. Plan your summer now! I urge you to take this chance and see our beautiful country in this unique and incredible way. The way it should really be seen. You may not get the chance again. Heino Molls is the publisher of REM. Email heino@remonline.com. REM

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mountains, the valleys, Niagara Falls, the Maritimes and even the Arctic Circle. I’ll bet you have talked about it and thought about it. Now is the time you can drive to it all, with a Tim Hortons coffee on the dashboard and a snack in the glove box. Enjoy the comfort of your car, your own space. You can even sleep in it if you need to pull over and rest. Did you know that Walmart has an unwritten policy that allows long-distance travellers in campers or cars to pull into their parking lots at night to rest without charging them? There are also rest stops in every province. I would argue that Quebec has the

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