January 2011

Issue #259

January 2011

Laura Fernandez

Singer, songwriter, illustrator and award-winning sales rep Page 12

Make 2011 your best year ever Page 3

Canadian developer makes good in Grand Cayman Page 26

Beware of homes with secondary suites Page 40

VANCOUVER IS WHERE THE BEST AGENTS WILL BE FEBRUARY 3-5.

WHERE WILL YOU BE? For three days, the most successful agents in Western Canada will be under one roof.

Learn. Network. Evolve.

It’s where you should be.

RE/MAX of Western Canada 28th Annual Conference February 3-5, 2011 – Vancouver, BC Vancouver Convention Centre

For Registration and Information go to

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For career opportunities, call your local RE/MAX office or visit us at joinremax.ca.

Each office is independently owned and operated.

REM JANUARY 2011 3

Making 2011 your best year ever

Brokers and sales reps from across the country share their plans and goals for the coming year. By Toby Welch

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here’s no better time to ensure that 2011 is your best year ever.

Brian Wilson, the broker of record at GlobeCorp Realty in London, Ont., says, “I am expecting that 2011 will pose some unique challenges for mainstream professional Realtors.

Faced with challenges of a slower

the changes reflected with competition law and the access of MLS (means) that Realtors will need to embrace the evolution of our industry and accept private sellers as an opportunity rather than a threat. The Realtors who make gains in 2011 will be the ones who direct their energies into tapping this new market opportunity rather than trying to fight it or continuing to practice real estate using the old model.”

To make 2011 a more successful real estate year than 2010, Uta Marshall of Team Powerhouse Realty in Prince George, B.C., has established a few goals:

Brian Wilson

market, coupled with the revised CREA rules, Realtors will be forced back into working for their business and not just waiting for it to fall in their laps. I will be getting back to the basics of networking and prospecting. I am also continually looking into new technologies to engage potential clients, including Microsoft Tags, texting and social networking, to name but a few. As a broker/ owner, I will also be renewing my recruiting drive.”

How will the changes to the MLS rules affect Realtors’ game plans? Anne Ireland, broker at Century 21 Market Realty in Truro, N.S., says, “I believe

Anne Ireland

“I recently read somewhere that 80 per cent of business comes from following up, so I will be diligently following up on every lead and inquiry that I receive.

I have just begun implementing the Exclusive Buyer’s Agency into my business and will continue to do so in 2011 to make sure that buyer leads are serious. To strike a good balance between home and business life (as we all know this business can be all-consuming), I will schedule clients into my calendar around my other appointments, be it business or personal.”

Linda Loftus, broker of Sutton Group Incentive Realty (Squarefoot.ca Team) in Barrie, Ont., shares her plan: “We are and continue to be more than an MLS service provider. We investigate market statistics and governmental roles and how they contribute to development costs/ delays/savings. We evaluate the time and space versus cost or savings and what that means to a particular client and then based on our investigations/evaluations, we recommend a series of five choices to a client. The model works well for clients because we look well beyond the immediate real estate requirement. The real estate deal is only 10 per cent

approach in doing business the new way.”

Janet Bossert of Re/Max Real Estate in Edmonton sees the bigger picture for 2011. “When the market slows down, rather than panicking or getting down in the dumps, look at the big picture.

in the sales cycle. Real estate is no longer simply a transactional business. In 2011, it’s all about demonstrating value.”

Linda Loftus

of what we do and it comes at the end of the 90 per cent time invested to get to know the client and their business requirements.”

Shirley Powell, the owner and manager of Let’s Deal Real Estate Ltd. in Moncton, N.B., has been in real estate for 27 years and plans to have her best year ever in 2011.

“Recently I hired a young, smart multi-media tech who will revamp my web presence and deliver better advertising to the

Shirley Powell

public, reaching a target audience.

I will take the time to really pay attention to all the opportunities in marketing being offered to the private sale sellers by unlicensed ‘wanna be’ Realtors because this kind of marketing will become more aggressive in 2011. I am ready for a change in how I will do business and welcome it with open arms. The time is right and it is the consumers and the competitors that lead me to this

Chris and Terra Suffel

Janet Bossert

Look at real estate history; ups and downs – but in the end, the straight line is UP. Take advantage of the extra time you have. Look at it as a gift you rarely give yourself: time. Use a lull or downward shift in the market to do all the things you were too busy to do before, such as spending real time with your friends and family, reading or viewing inspirational material, catching up with the less exciting aspects of our business (paperwork, checking out new ideas for marketing), and doing whatever you have been neglecting – you know, the things that are always sent to the bottom of your to-do list.”

Will 2011 be more evenkeeled? “After a tumultuous 2010, we’re anticipating a more stable marketplace in 2011. Our approach in this more traditional market is actually to maintain the status quo,” says Chris Suffel, sales rep for Re/Max Hallmark Realty in Toronto.

“My partner Terra and I plan to continue what our clients say sets us apart – providing exceptional service at every step

Dan Keeley, a Realtor with Re/Max Little Oak Realty in Abbotsford, B.C., says he’ll have a year of positive changes. “2010 was the first year that I had an unlicensed assistant so learning how to utilize that in my business was a great thing for me. Looking

Dan Keeley

forward to 2011, I plan to continue to change how I do things so that I am more organized and more effective with my time. I will be bringing another associate or two alongside this year so it will be another year of change, but am totally looking forward to it. You can’t be waiting for the phone to ring like it did in 2006 or 2007, you have to get out there and make it ring.”

Do what it takes to make 2011 your best year ever in real estate. REM

4 REM JANUARY 2011

Multiple Listings

By Jim Adair

Do you have news to share with Canada’s real estate community?

Let REM know about it! Email: jim@remonline.com

L

a Capitale Real Estate Network has won the contract to sell Canada Mortgage and Housing Corp.

(CMHC) residential mortgage foreclosures for all regions of Quebec, following a call for proposals. The contract calls for La Capitale to market and sell the portfolio of foreclosures of one to 50 units. The residential properties are subject to mortgage foreclosure by various financial institutions as part of the CMHC’s mortgage loan insurance program.

La Capitale Real Estate Network has joined with Services immobiliers Truscan to manage the real

estate portfolio.

The contract is for three years with two one-year renewal options.

Nicolas Ayotte, La Capitale’s president and CEO says, “Given the number of mortgage foreclosures in the last few years, there has been stiff competition between the various agency networks and certain independent agencies. Obviously the fact that we have real estate agencies in every corner of Quebec played in our favour, as did the sales performance of our brokers and the visibility of our agencies in their respective markets.”

■ ■ ■

A new branch of Sutton Group - Heritage Realty opened in Ajax, Ont. in December.

The 10,000-square-foot building accommodates 120 sales reps with

room for an additional 30 people.

The team previously worked from an office at a mall in Pickering.

Broker of record Rosalind Menary says, “We are occupying approximately 7,500 square feet and the plan is to rent the additional space out to someone who would provide services that are beneficial to our clients. We have a boardroom where we can meet with groups of 10 to 12 people and a training facility upstairs that can seat approximately 50 people.

Continuing education courses are offered to our own agents and we welcome those from other companies to participate as well.”

The brokerage is co-owned by Rosalind and her husband Ron Menary. “Some of our salespeople have been with us since we opened our doors 18 years ago,” says Rosalind.

■ ■ ■

Century 21 Canada recently created a new Marketing and Communications Department, which will provide communications and marketing support to its 7,700 system members.

“Created to help generate improved competitive analysis, information gathering, proactive communication and social media initiatives, the department will increase marketing research, strengthen brand strategy and increase the level of brand visibility,” says the company in a news release. The new department is headed by Nadège Parent.

She is joined by Aliza Fung, the new social media and communications co-ordinator, who was formerly employed by the Real Estate Board of Greater Vancouver. Graphics and web designer Darcy Paterson is also a new addition to the department.

He is also a part-time design instructor with the Art Institute of Vancouver.

■ ■ ■

Re/Max Finest Realty Inc. has opened it doors for business in Napanee, Ont. The office will be home to four full-time Realtors, led by industry veteran and former

Kingston & Area Real Estate Association president (2005) Cindy Haggerty. Haggerty plans to expand the sales force to 12 within two years.

“Napanee and its surrounding communities continue to benefit tremendously from the expansion of nearby major centres,” says Haggerty, broker/owner of Re/Max Finest Realty. “Affordability is a significant draw for purchasers, and that’s best illustrated by the fact that nearly half of all sales occur between $100,000 and $200,000. Average price hovers just under the $200,000 mark, and buyers benefit from excellent access to the 401, with Kingston located within a short 15-minute commute.”

While the office is a newcomer to the marketplace, its goal is to eventually capture 40 per cent market share in Napanee and surrounding areas, including Loyalist Townships, Stone Mills Townships and the Town of Deseronto, Re/Max says.

■ ■ ■

Century 21 Panorama in Knowlton, Que. recently announced that David Barakett Continued on page 6

Cindy Haggerty

Chris Brothers

Melvin Gee

Laverne and Candace Link

David Barakett

Stella Price

The new offices of Sutton Group – Heritage Realty in Ajax, Ont.

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Continued from page 4

will join its management team as owner. Born and raised in the area, Barakett made the transition to real estate sales in 2006 after being a professional builder.

■ ■ ■

Stella Price has moved to Re/Max Sabre Realty Group in Port Coquitlam, B.C. Price was Prudential Real Estate’s No. 1 producer in North America in 2007 and 2008. Her team of one licensed agent and a licensed assistant, along with 61 listings, came with her to the Re/Max brokerage.

Price credits her success to focusing on a specific area. “Don’t try to be everywhere. Choose a subdivision or neighbourhood you want to dominate and market like crazy,” she advises new sales reps.

“Start with smaller properties like condos and work your way up. If you’re new to the business, you have to sell yourself because you don’t have listings to work with yet.

“Don’t let people see you sweat or tell prospects that you’re new.

They won’t work with you.”

■ ■ ■

Claude Gagnon, Gaston Allard and Carole Strasbourg, brokers/owners of Royal LePage La Renaissance in Outaouais, Que., along with brokerage manager Jean-Guy Savoie, have acquired Jean Cadieux Immobilier, a small independent real estate brokerage in Gatineau. The acquisition will further solidify the company’s strong position in the Outaouais market, says Royal LePage.

■ ■ ■

Simcoe County, Ont. Realtor Mike Montague is lending voice to local real estate in a new weekly TV show called Eye on Real Estate, hosted on Rogers TV. Montague is with Sutton Group Incentive Realty, which has offices in Barrie, Innisfil, Orillia and

Cover photo: MARKO SHARK

Alliston. He will be visiting a different Simcoe County community each week, talking with municipal leaders and people on the street about their personal passions, concerns and anticipations for the place they call home. The show gives people an up close look at the real estate market and the purchase and sales process with insights provided by the people who work within the industry and various related products and services.

In the premier episode airing in January, Montague takes a look back to Barrie’s humble beginnings summing up more than two centuries of population growth history and bringing the viewers up to date on what has been one of Canada’s fastest growing cities over the past two decades. He spends some time with Barrie’s new mayor, Jeff Lehman, then discusses the mortgage process and financial preparations necessary for the first step into home ownership. The 30-minute show wraps up with a “mailbag” question from viewers, which in this episode sheds some light on the best times to buy property.

Montague has been a Realtor in the Simcoe County area for 10 years. Previously he worked in the residential and commercial construction industry for 18 years.

■ ■ ■

Century 21 Island Realty, which has a main office in Corner Brook, Nfld., recently opened a satellite office in Stephenville, Nfld.

Chris Brothers, owner of the brokerage, says, “This expansion will enable us to better serve the areas in Western Newfoundland and I look forward to the continued growth of our business.”

The office has been serving local homebuyers and sellers since 2005.

■ ■ ■

Candace and Laverne Link have joined the Royal LePage

franchise network in Steinbach, Man. Their company will operate under the name Royal LePage Link Realty. They say they are looking forward to “offering a unique and competitive suite of services to the residents of Steinbach.”

■ ■ ■

Melvin Gee recently opened Century 21 Ferrari Realty in Edmonton. Gee has been a Realtor since 2004. His prior real estate experience came from investing in commercial and residential properties.

“Our goal at Century 21 Ferrari Realty is to create a hub for real estate activities and provide value-added products that set us apart from the competition,” Gee says.

■ ■ ■

Cathy Travis Personal Real Estate Corporation in Victoria is now affiliated with Sotheby’s International Realty Canada.

Travis’ new office is in downtown Victoria at the Conference Centre.

■ ■ ■

Dan Grantham, a sales rep with Sutton Group Preferred Realty in London, Ont., has been named to the Board of Directors of Tourism London, a public-private sector partnership with the City of London that is responsible for the promotion of leisure travel, conventions and sports tourism to the city. The board is made up of hospitality sector officials representing tourism businesses in London, elected by Tourism London members or appointed by the board.

Tourism in London is a $456.8 million industry that supports 6,170 jobs.

■ ■ ■

Re/Max International has expanded by adding the Caribbean country of Dominica to the organization.

New broker/owners Alistair

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and Ann Grell opened Re/Max Millenia Realty in Roseau, Dominica’s capital city. The new office is part of the Millenia Group – an architectural, engineering and environmental services firm that has been serving Dominica since 2004.

“Our office is the only one-stop real estate and development firm in the country,” Alistair Grell says, adding that Dominica is a growing market that’s quickly becoming a haven for second homes.

Dominica, located in the Lesser Antilles between the Caribbean Sea and the North Atlantic Ocean, was the last of the Caribbean islands to be colonized

by Europeans. France ceded possession of the island to Great Britain in 1763, which made the island a colony in 1805. Dominica gained its independence in 1978.

■ ■ ■

Face paint, wild wigs and crazy costumes were part of the fun at the first annual Sutton Spooky Bowl hosted by Sutton Group Lakefront Realty in Vernon, B.C..

Nearly 200 clients, friends and family joined broker Tamara Cinnamon, her partner Ken Robb and the whole Lakefront team for bowling, pizza and snacks at Lincoln Lanes. This Halloweenthemed, client appreciation event

was so successful that the office has already booked the venue for next year.

“It’s hard to imagine a more effective, well-received client appreciation event,” says Realtor Beth Marks. “It is beautifully simple to do and relatively inexpensive. Most importantly, it allowed us not just to give something to clients, but to be with our clients playing and laughing.”

■ ■ ■

Sotheby’s International Realty now has an office in Istanbul, Turkey. The firm, owned by Emin Hitay, will first serve the Istanbul market. Hitay’s firm has an exclusive 25-year master franchise agreement with the Sotheby’s International Realty brand for Turkey and plans to open additional offices in key markets across that country over the next several years.

“Turkey is a critical part of our growth plan as it represents an important gateway between Europe and the Middle East,” says Michael R. Good, CEO, Sotheby’s International Realty.

“Istanbul is a melting pot of cultures that continues to expand dramatically, with a population of more than 13 million spread over the European and Asian sides of the Bosphorus.” REM

Husband convicted of killing Mississauga broker

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arry Ryan has been convicted of killing his wife Susan Ryan, a well-known Mississauga real estate broker and past-president of the Mississauga Real Estate Board.

Court heard that Ryan shot his wife at close range with a .22 calibre rifle while she was making breakfast on Nov. 9, 2008. Ryan’s lawyer said his client admitted he was guilty of manslaughter, but was too drunk to know what he was doing when he killed his wife. But the Crown said Ryan, a retired Toronto police officer, knew exactly what he was doing when he snuck up behind her and fired four bullets at her head. He was sentenced to the mandatory life sentence.

Susan Ryan owned Susan A. Ryan Real Estate in Mississauga and was active in the community and at the real estate board. REM

2255B Queen Street East, Suite #1178 Toronto, ON M4E 1G3

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. Subscriptions are $40.95 per year (including $1.95 GST), payable by personal cheque. Entire contents copyright 2010 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.

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hree high-profile members of the British Columbia real estate profession are the newly elected executive of the Canadian Chapter of the International Real Estate Federation (FIABCI), which held its Annual General Meeting in Oakridge, Vancouver recently.

Joining North Vancouver Realtor Dean Lapointe as 2011 chapter president is West Vancouver’s Calvin Lindberg as vice-president and Ursula Morel from Whistler as immediate pastpresident.

Lapointe is currently the FIABCI president of the Americas and as such serves on the FIABCI international directorship. He is also a director of the Vancouver Division of the Real Estate Institute of Canada and has served at numerous levels of organized real estate in British Columbia.

Lindberg is a past-president of both CREA and the Greater Vancouver Real Estate Board.

Morel specializes in luxury resort and second home property marketing and is a member of the Institute for Luxury Home Marketing.

Elected as directors were Peter Dagg (Whistler, B.C.), Li Read (Salt Spring Island, B.C.), Nora Valdez (West Vancouver), Jamie Edwards (Burlington, Ont.), Margaret Liu (Toronto), Gino Matrundola (Richmond Hill, Ont.), Randi Emmott (Woodbridge, Ont.), Betty Fitzpatrick (Fredericton) and Carlos Sousa (Toronto).

Lapointe says the chapter has a new dynamic and his leadership team will focus on bringing real estate professionals from around the world to B.C. and Canada by means of trade missions and holding the Americas Regional Real Estate Congress in 2013.

With its headquarters in Paris, The International Real Estate Federation (IREF) or Fédération Internationale des Professions Immobilièrs (FIABCI) is a world-

wide network operating in over 60 countries, representing 1.5 million real estate professionals.

■ ■ ■

Realtors from across Ontario attended the annual Political Affairs Conference of the Ontario Real Estate Association (OREA) recently.

In meetings with MPPs, Realtors lobbied to allow real estate salespeople to incorporate.

This is not currently allowed under the Real Estate and Business Brokers Act (REBBA), 2002.

“Allowing real estate salespeople to incorporate is ultimately about fairness,” says OREA in a news release, stating it “would align their rights with other regulated professions, lower taxes on Ontario businesses and help members of the real estate profession cope with the introduction of the HST. “Allowing personal real estate corporations will not affect consumer protection and has limited implications for provincial revenue,” says OREA. Realtors also discussed a proposal to create a new property assessment class for brownfields under remediation. It says this new assessment class would reduce the financial burden of redevelopment on brownfield property owners by applying a lower property tax rate to brownfields under remediation.

Conference keynote speakers included Tim Hudak, leader of the Progressive Conservative Party of Ontario, Andrea Horwath, leader of the New Democratic Party of Ontario and John Gerretsen, Minister of Consumer Services responsible for REBBA, 2002.

OREA has about 49,000 members.

brated at TREB’s annual Gathering for Giving reception on Nov. 29, a date that also marked the board’s 90th anniversary.

For a number of years, TREB has committed to supporting the Realtors Care Foundation, which makes annual grants to shelterbased organizations throughout the province. This year TREB donated more than $357,000 to the foundation, $178,000 of which was channelled directly into GTA communities.

TREB contributes to a number of other causes throughout the year as well, including sponsoring one of 29 Habitat for Humanity townhomes under construction; providing nutritious breakfasts and snacks to 28,000 children in 16 different schools each month; and an annual scholarship program.

“Ninety years ago a group of real estate practitioners came together to establish standards in our profession,” says Bill Johnston,

■ ■ ■

Basil Pappas, a board member with the Association of Regina Realtors (ARR), recently made a special presentation to an outstanding University of Regina Rams player, during the Rams’ 2010 Awards Ceremony. Adrian Charles was awarded the Les Ludwig Memorial Award, as the Rams’ most Outstanding Offensive Back for the 2010 season. Charles was the second leading rusher in the Canadian Interuniversity Sport (CIS) regular season, with 972 yards gained on 139 carries for an average of seven yards per carry and an aver-

Newly elected FIABCI-Canada executive, from left: Dean Lapointe, Ursula Morel, Calvin Lindberg

At TREB’s Gathering for Giving event, from left: Bill Johnston (president); past-presidents Maureen O’Neill and Carl Fox; CEO Don Richardson; and past-presidents John Hutton, Dorothy Mason and Tom Lebour.

■ ■ ■

Members of the Toronto Real Estate board have donated more than $178,000 to 35 shelter-related organizations throughout the city. The organizations were cele-

TREB president. “Today, we regard it as our responsibility to expand on their spirit of co-operation by working together to build strong communities in our great city.”

TREB currently has more than 31,000 members.

George Patton

age 122 yards gained per game.

“We are very pleased to be able to sponsor this award. The Rams play an important role in our community. It’s exciting to be able to help the team honour one of their outstanding young players,” says Pappas.

Les Ludwig was an offensive back with the Rams in the 1970s.

In 1975 he set a 170-yard record for Most Attempts – Rushing.

Sadly his career was cut short when he died in a car accident during the off-season in the mid1970s. The ARR has sponsored the Les Ludwig award for more than 25 years.

■ ■ ■

A new board of directors has been appointed to govern the Kitchener-Waterloo Real Estate (KWREB) board and George Patton, a broker with Royal LePage Wolle Realty, will serve as Continued on page 10

The Mississauga Real Estate Board 2011 Board of Directors – from left: John Kaunds, Linda Pinizzotto, Jerry England, Allan Todd, Asha Singh, Michael Mills, Walter Hayde (president), David Cobban, (past-president), Nigel Purai, Carmela Kapeleris, Fawzi Mattar (president-elect) and Garry Klassen (vice-president).

Among those taking part in the OREA PAC were, from left: Durham Region Association of Realtors president Dierdre Mullen; Debbie Dawson, chair of the DRAR Political Affairs Committee; Wayne Arthurs, MPP for Pickering-Scarborough East; Ann Briscoe, past DRAR president and TREB director; and Cail Maclean, DRAR EO. ARR director Bail Pappas, Adrian Charles.

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president.

A Realtor since 1985 and broker since 1987, Patton has served as a KWREB director since 2005.

During that time he has chaired the MLS Services Committee, Education Committee, Bylaw Committee and Finance Committee.

Joining Patton George as officers of the association are 1st vicepresident Sara Hill of Re/Max Twin City Realty, 2nd vice-president Dietmar Sommerfeld of CB Richard Ellis, past-president Ted Scharf of Royal LePage Scharf Realty and EO Bill Duce.

New to the directors this year is Roy Singh, broker of record with Century 21 Home Realty.

Returning as directors are Lynn Bebenek of Team Realty K.W. Inc., Horace Coelho of Coldwell Banker Peter Benninger Realty, Karen Shartun, Royal LePage Scharf Realty, Brian Spall of Re/Max Twin City Realty and Neil Strickler of Royal LePage Wolle Realty.

■ ■ ■

The Mississauga Real Estate Board (MREB) held its Annual Election Meeting and Trade Show recently, with a new approach to the event. The trade show was at a new and larger venue, featuring 53 exhibitors. The board opened its Election Meeting to non-members, and more than 350 people attended.

President David Cobban spoke about expanded communications and upgraded marketing strategies that have provided increased board visibility throughout Mississauga and the GTA. Industry challenges such as the HST and the CREACompetition Bureau agreement and the commitment to member education and consumer awareness was a focus in 2010. Finally, the board’s development of new policies and procedures regarding new business partnerships and sponsorships are designed to increase member services and benefits.

President-elect Walter Hayde said he is looking forward to continuing MREB’s evolution through good leadership and an increase in member involvement both in the industry and the board.

■ ■ ■

The Realtors Association of Hamilton-Burlington’s 2010 Annual Charity Auction in support of the CHML/Y108 Children’s Fund – Christmas Tree of Hope was held recently. Now in its 35th year, the Christmas Tree of Hope has channelled more than $4 million to children’s causes.

Rachelle Aurini, chair of RAHB’s Charity Auction Task Force, says, “We have seen a couple of especially hard years, and the need in our communities has grown accordingly.”

RAHB has been the charity’s single largest contributor. This year’s donations for the auction included offerings ranging from coffee makers and gift baskets to the more unusual, including a pinball machine and a Victory motorcycle. There were also trips to Las Vegas and Cuba, sports tickets, getaways, electronics, personal services, dance lessons, a handmade quilt, a gas barbecue and a bicycle up for bids.

■ ■ ■

OREA is throwing its support behind a private member’s bill that would establish a marijuana grow operations and clandestine drug laboratory registry. Bill 139, Clandestine Drug Operation Prevention Act, 2010, was introduced by MPP Lisa MacLeod.

“Grow-ops are a major problem for homebuyers in the province and we have been urging the Ontario government to establish a registry to protect consumers for almost 10 years,” says Dorothy Mason, OREA president. “We urge the government to pass this bill in order to protect homebuyers.”

Realtors are obligated by law to disclose to potential homebuyers if a home has been used as a marijuana grow-operation or a drug lab, but OREA says Ontario Realtors are hindered by the lack of a central registry, which is crucial to protecting homebuyers from the potential health and safety hazards of properties formerly used to manufacturer clandestine drugs.

Bill 139 defines a clandestine drug operation to be an illegal operation where any substance listed in the schedules I through IV in the Controlled Drugs and Substances Act of Canada can be obtained by any method or process. REM

12 REM JANUARY 2011

Life’s an adventure for multi-tasking Laura Fernandez A successful full-time real estate sales rep, an accomplished illustrator, a radio host….Laura Fernandez says she’s always working, but “none of it feels like work”. By Susan Doran inger/songwriter/illustrator/ radio host Laura Fernandez admits she is so creatively driven that she’s “almost afraid not to live life to the fullest.”

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to writing and singing in Spanish has been her role as producer and host of Café Latino, a weekly radio showcase of Latin music on Toronto’s JazzFM.91.

What she clearly isn’t afraid of is change – she’s re-invented herself more times than Madonna. Her most recent incarnation is as a Realtor.

She has been with the same office, Royal LePage Johnston and Daniel division in Toronto, since she started in the business three years ago.

“You could say I’ve rediscovered my roots,” she says, adding, “I don’t stick to convention in life, so why should I in music?”

A sales award is in the offing for her this year, which she considers a “huge deal.” It has helped boost her confidence … not that that appears to be a quality Fernandez lacks.

She describes her life as “an adventure” and notes that she makes an effort to say yes to new experiences wherever possible.

Born in Spain, she was seven when she came to Canada and remembers how hard she worked to learn English and to lose her accent. Before long, frustration was replaced with “love of the versatility of English, the economy of words, the wacky pronunciations,” she says.

The experience of trying to fit in to a new culture pointed Fernandez in a direction actually, several. “I think my desperate need to express myself and to be accepted led me to turn to art, drawing, painting and later music,” she says.

Today she still has a foot in both cultures, as her recently released second solo album, Un Solo Beso, performed entirely in Spanish, attests. Her debut album, The Other Side, was pop/ folk and had only one Spanish track.

The catalyst for the transition

The contacts she’s made through the show haven’t hurt either. To make the new record (which she describes as Latin/ jazz/pop), Fernandez says she found a musical soul mate in Juno-award-winning producer Billy Bryans, who many years ago enjoyed Canadian pop fame as a key member of the Parachute Club and is now a leading Latin music promoter and DJ. “When we met we knew it would be the right combination,” Fernandez says.

Her past included art college, and then a highly successful career as an illustrator, teamed with her then-husband Rick Jacobson. Illustrating children’s books and working on international ads, billboards and magazines, they won heaps of prestigious awards. You’ve seen their work – they illustrated Air Canada’s well-known leaf logo, and the trillium on Ontario drivers’ licenses.

“We had the big house” and all the rest of it, says Fernandez.

But then the illustration industry went digital and the work for traditional painters/artists like her and her husband dried up.

Their marriage followed suit, although they remained close.

The upside was that, even with three children, Fernandez had time to concentrate on making it as a musician. Having had quite a bit of training when she was a a teenager, she bought

a piano.

It was “a life-changing experience,” she says. “The flood gates opened and songs poured out. I started performing on open stages and was asked to do an album by musicians I’d met at the Free Times Café (where she hosted an open mic night for five years).”

Released in 2003, The Other Side was themed around the changes she was navigating with the break-up of her marriage.

It was well received on the Toronto club circuit and was the key to Fernandez playing such legendary venues as Madison Square Garden, being asked to perform at the New York Independent Music Festival (where she was a winner in the soft rock category), and being the only North American artist at the World Music Festival in Varadero, Cuba, performing in front of 20,000 people.

“There were all these microphones in my face when I came off stage – lots of international press,” she says. “It was like being a rock star.”

But with music there’s always been one major drawback.

Says Fernandez, “I loved the immediate feedback of music, the spiritual bond with the audience, creation for the love of it … but I had to make a living and music wasn’t bringing in enough.”

She turned to real estate on the advice of her sister, Montana, then a Realtor in the U.S. Real estate appealed to Fernandez, who has an interest in houses and design thanks to her late, beloved architect father. She thought the challenges of real estate could focus her creative energies and fill a social need that she didn’t get working alone.

Laura Fernandez. (Photo by Marko Shark)

And sure enough, “I fell in love with it,” she says.

Currently Montana is her assistant.

“My first clients became the people I’d been working with in music. I was finding them homes when I had to sell mine and find a new life, so I knew the stress of moving first-hand.

A full-time Realtor, she still leaves plenty of room for artistic accomplishments, the most recent being the new album. Its name means “a single kiss” in English.

“The first year was tough.

I did a bunch of leases … I was terrified – I was the novice where I used to be (in illustration) the expert.”

So far the reaction to the album has been great, she says, adding that there’s been a good amount of airplay and “a ton” of downloads.

She has her sea legs now, and as soon as her sister gets her license here they look forward to working together as a team.

“I’m working on all my passions simultaneously!” she says. “I’m always working, but none of it feels like work.” REM

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14 REM JANUARY 2011

T

hree brokers/owners were recently recognized by Re/Max Ontario-Atlantic Canada for their outstanding contribution to the Re/Max network.

John and Ray Jarvis, Re/Max North Country; David Pearce, Re/Max Rouge River; and Tariq Khursheed, Re/Max Legacy, all received honours for exponential growth, commitment to technology and exceptional leadership at a retreat held in late November.

John and Ray Jarvis purchased Re/Max New Lifestyles and Re/Max Lake Country in the Muskoka region in early 2010. “In just 11 months, they’ve doubled their market share under the Re/Max North Country banner and are ideally positioned for future expansion,” says Re/Max in a news release.

Tariq Khursheed, brokerowner of Re/Max Legacy in Mississauga, opened a state-of-theart office in February 2010 “that has attracted some of the brightest and best Realtors in the area. In only nine months, he’s exceeded his one-year growth target by 20 per cent,” says Re/Max. David Pearce, broker/owner, Re/Max Rouge River in Scarborough – a former TREB

David Pearce

Tariq Khursheed

president and current director at RECO and TREB – has consistently contributed to the advancement of the real estate industry, the company says. “His outstanding leadership has fostered the career development of countless top-tier Realtors over the years and has established his own company, Re/Max Rouge River – which just celebrated its 25th year in the business – as a market frontrunner.”

I I I

Exit Realty Corp.

International recognized the best in North America at its gala Annual Convention held recently in Dallas, Texas. Steve Morris, Exit Realty Founder and CEO, was on hand to present the Leader’s Leader Award to Joyce Paron, president of Exit’s Canadian Organization.

“This award is given for leadership above and beyond the call of duty,” said Morris. “Joyce commands the absolute respect and appreciation of everyone in our Canadian Organization. She builds and stabilizes with deliberate intention, consistency and personality. She is most definitely a leader’s leader.” REM

Tami Bonnell, Exit’s U.S. president (left) and Exit Realty founder and CEO Steve Morris present the Leader’s Leader Award to Canadian president Joyce Paron.

John and Ray Jarvis

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16 REM JANUARY 2011

You get what you pay for

By Mary LaMeres & Lyle Martin

I

n a recent guest column in REM (November 2010), broker Ari Lahdekorpi wrote in praise of commission-based compensation. The author commented that “any flat fee or a la carte type of formula removes some aspect of motivation or creative thinking on the part of the agent.”

We are in favour of commission-based compensation models.

We disagree that the commission must be percentage based. We believe the author’s opinion portrays real estate professionals unfairly. Most successful agents care more about bringing about a successful transaction where everyone

wins, than the compensation.

Successful agents are motivated by much more than compensation.

As co-founders of the largest “discount” real estate company in North America, we’ve heard numerous attacks on compensation models that challenge the typical percentage commission model in use by most brokerages. None are particularly convincing and most are simply untrue. For example: “You wouldn’t go to a discount doctor or attorney, would you?”

Really? While we have tremendous respect for our fellow real estate professionals, we hardly think a comparison to professions that require years of education, testing and experience is a fair comparison. Let’s face it, this is not brain surgery! The requirements to obtain a real estate license pale by comparison.

“You get what you pay for.”

Do you? A prospective home seller calls a local brokerage to see about listing their home. Which agent do they get, and how much of a commission do they pay? Is it a

top producing agent in the office who has sold lots of homes, is a skilled negotiator, knows the market and is working with active buyers? Or is it the brand new agent who just passed the exam and has no experience, no buyers and not a clue on how to value or market a home? Truth is, it could be either one or most likely someone inbetween and the commission is the same regardless of which agent they end up with. However, when it comes to the commission charged it is usually the same. Do sellers get what they pay for?

Maybe, maybe not.

“If you don’t pay a ‘full commission,’ agents won’t sell your home.”

There is no direct correlation to the amount of commission paid and the results in selling price. In their book Freakonomics, authors Levitt and Dubner conclude that having a real estate agent sell your home won’t necessarily result in a higher sale price.

Flat fee versus percentages.

Whether a seller pays a flat fee or

Ontario Real Estate Agents

percentage fee makes no difference. If we charge a flat fee of $12,000 to sell a $200,000 home, it is the same as charging a six per cent fee. How is it that simply charging a flat rate fee, as the author says, “removes some aspect of motivation or creative thinking on the part of the agent?” We understand the argument that making more money is motivating.

We just don’t agree that one needs to make all of it from one seller.

We know that by charging a competitive low flat fee we attract more sellers. More sellers, combined with effective marketing, skilled caring agents and a well-run business, will result not in less compensation, but greater overall compensation. Our experience over the past 23 years with hundreds of offices throughout North America and thousands of home sales is that our agents typically sell more homes and make more money that the average agent. Yes they work hard and make less per sale, but they handle more business in one year than most agents get to

do over a three-year period. You’ve heard the adage “if you want to get something done, give it to a busy person.” Who would you want performing your brain surgery? The doctor who does it once in awhile or frequently?

We are in favour of commission-based compensation models.

We disagree that the commission must be percentage-based. It is unfortunate that some real estate professionals attempt to discredit “non traditional” brokerages merely because of the lower fees they charge.

Competition is good! Sellers are entitled to choices. Limited choices may have worked for Henry Ford in the early 1900s (“People can have the Model T in any colour – so long as it’s black.”), but that’s not true today. There is room for other business models in the real estate industry to help home buyers and sellers.

Consumers will vote with their pocket books and may the best solutions win.

Mary LaMeres and Lyle Martin are the co-founders of the real estate franchise Assist2Sell. www.Assist2Sell.ca REM

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18 REM JANUARY 2011

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hile systems and techniques were crucial to kick starting my real estate career, it might not have happened if I had only sold myself to the public. There was another group much closer to home that I had to have on side to make that climb a lot easier.

I’m talking about a group of people with whom it is vital to have a good relationship if you want to succeed. It’s a group of people who can make your life a lot easier or a lot more difficult. That group is your fellow real estate agents.

In this business we all compete for the listing, but we all co-operate for the closing. Once you list a house you’re going to need your fellow agent’s help to sell it. Let’s face it, we’re in a very tight-knit industry and your reputation, good or bad, is out there for everyone to see.

That means if agent A has a client looking for a house in the price range of one you have listed, they can push their client towards you or towards another agent with a similar property. Which direction they go depends on their knowledge of you and the other agent – how you’ve done business with them in the past, how you’ve treated them and how you’ve dealt with them as a fellow professional will determine how, and if, they deal with you.

Over the course of my career I’ve dealt with hundreds of multiple offers situations for properties I had listed. Many times the offers were identical. I would make my decision the same way I made every real estate decision, what was in the best interest of my client. I would guide them towards the agent who would get the deal closed in the fastest time with the least amount

of headaches. That meant an agent who replied promptly to emails, would have the paperwork completed correctly and who had done their homework on their clients so no nasty surprises popped up. In short, I always chose the agent who was the most professional. Who wouldn’t?

So, how do you make choosing you the easy choice? You treat all your fellow Realtors with the respect, courtesy and professionalism that you want them to treat you with. It really is that simple.

Now there are other things I did that you can do as well that will help stack the deck in your favour.

Anytime you do business with another agent, send them a handwritten thank-you note after.

Anytime you learn something from another agent, be sure to let them know and thank them.

Whenever they contact you, get back to them immediately. If they’re asking for information you don’t have, don’t wait until you do, send them a quick reply saying you’re on it.

If you show a client a competing Realtor’s listing, let the Realtor know how that showing went as soon as you can. We all know what its like to have anxious vendors – they want to know how the showing went. Wouldn’t you? Yet many times I’d find myself contacting the Realtor time and time again to get an update! Be ahead of the game, inform the listing Realtor immediately. It’s the respectful thing to do.

These are simple, easy courtesies we can all extend to each other.

Most of it has to do with basic communications. You should treat the agents you deal with as another opportunity to sell yourself and set yourself apart.

Just imagine what an amazing industry we’d have if we all treated each other like the professionals we are. That’s something for which we can all be agents of change.

Debbie Hanlon is the president and founder of Hanlon Realty. She is a three-time top 50 CEO winner and was named one of the top 100 female entrepreneurs in Canada. She is currently an elected city official in St. John’s, Nfld. and is available for motivational and training seminars. Email debbie@hanlonrealtynl.com. REM

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20 REM JANUARY 2011

METES & BOUNDS

By Marty Douglas

H

appy New Year! I recently asked our sales team, “What question do you get asked the most?” They all knew the answer, as do you. The question most often asked, by the public and other sales reps, is “What’s the market going to do?”

The trouble started when I asked them, “What was your answer?” Got some traditional answers, some innovative ones, some long silences. The reality is – it doesn’t matter. The market is what it is. What matters is – what are you going to do?

To help you get to a conclusion, here are some folks’ thoughts

Market conditions don’t matter on the topic. George Bernard Shaw in 1893: “People are always blaming their circumstances for what they are. I do not believe in circumstance. The people who get on in the world are the people who get up and go and look for the circumstances they want, and if they can’t find them, make them.”

Bruce Lee: “Circumstances hell! I make circumstances.”

Amy Tan: “In America, nobody says you have to keep the circumstances somebody else gave you.”

Ralph Waldo Emerson: “No change of circumstances can repair a defect of character.”

Yogi Berra: “If you don’t know where you’re going, you’ll probably end up there.”

Yoda, The Empire Strikes Back: “Do or do not. There is no try.”

Some attitudes for the new year stolen, er, gathered from intensive research at the recent NAR Conference in New Orleans, mostly from Mike Aubrey, Realtor star of HGTV. (He’s worth a Google,

really!): “No one gets in my car until I know they can get money.”

To market fence-sitters, ask this: “How do you feel about inflation? Do you think it might go up?

Shouldn’t you buy now?”

And to the techno cave dweller client: “Give me your phone. I’m going to program it so I can text you daily.” They don’t have a cell phone? Then they’re aging baby boomers – make sure they have money and be patient.

To the buyers who calculate everything: “Should you buy now?

Well, if rates go up two per cent in the next three years on your $300,000 mortgage, you’ll save about $4,000 per year over the term of your mortgage. Five-year term times $4,000, let’s see, that’s – holy crap, that’s a lot of money.

And if you locked in for 10 years – well you do the math. And we haven’t talked about the great deal you made on the price because of the market.”

To the market timers who are renting: “So let me get this straight. You’re going to rent until

the market hits bottom and then you’ll buy. How will you know? Do you think they ring a bell? And let me ask you this – when was the last time your rent went down? Buy now and you can lock in your rent for the next five to 10 years. But – it’s up to you.”

For some Canadian content, former CREA president Allan Tennant: “In any market, even a slow one, some numbers of houses are going to sell. Yours could be one of them.”

Of course, in any challenging market there are those who refuse to identify the suspect staring back at them from the mirror every morning and insist that a change of company or the application of anything other than elbow grease will polish the turd that is their career. For those so tempted, consider this – three of the biggest names in Victoria real estate escaped the chains of ownership of their own real estate brokerage and with their manager joined one of the larger independent firms about a year ago. They are there still.

As we grow longer in the tooth in this business and take more time for ourselves and families, the attraction of a well-managed brokerage is far greater than the lure of being your own boss. The ability to “stick to your knitting” and to rely on a framework of competency is an asset frequently undervalued and under appreciated.

There’s an appropriate Scottish proverb: “No matter where you go, there you are.”

See you in Banff at the end of January for the best little conference in North America. Have a look at www.banffwesternconnection.com You can follow Marty Douglas on Twitter 40yrsrealestate or on LinkedIn and on Facebook. He is a managing broker for Coast Realty Group (Comox Valley) Ltd., with offices on Vancouver Island and the Sunshine Coast of B.C. He’s a current director of the Vancouver Island Real Estate Board. mdouglas@island.net; 1-800-715-3999.

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22 REM JANUARY 2011

I see the possibilities AS I SEE IT FROM MY DESK

By Stan Albert “I was able to see what I wanted to do. I could see the opportunity even when others could not, and I stayed committed to doing it and doing it well, no matter what.”

– Magic Johnson, ate last month, after going through the car wash, I entered the 407 toll road that I sometimes take to the office when in a hurry. A fraction of a minute later, I hear a thud.

Looking around quickly, I discovered my right-hand rear-view mirror was missing. Perhaps the brushes at the wash were misaligned and jarred it loose.

You know how hard it is to pass another car without a right-hand mirror? Let me tell you, in case you have never lost one. It is a crazy feeling. It is one of extreme anxiety when you cannot view the vehicle in the lane you just passed, or what is coming up from behind you on that side.

How long, I wonder, have the right-hand mirrors been around?

Asking at the office, nobody could tell me and for the life of me, I could not remember ever driving without one. And I have been driving since I was 16!

During the few days that I was inconvenienced, I started to think about what was in our “rear view mirrors”. My thinking evolved to this: what did we do this past year?

Are we about to repeat the same this year? Can we improve on what we did? Would we be able to say, I gave back to my community? Did I help my fellow colleague in a time of need? Did I devote myself to my

L

family when they needed me most?

These are all tangible and valid questions that only you, my dear readers can answer.

When we come to the end of the year, are you able to see in your personal “rear-view mirror” and see some possibilities for 2011?

Are you going to make that extra effort to ensure you complete each and every detail so that your client and your brokerage are well served?

By making just a little extra effort to achieve your goals/business plan, will you make a difference in your life and your lifestyle? Or are you just going to look in that rearview mirror next year and say, “I wish I did, I wish I could have”. Or will you make a difference in someone’s life by doing a better job?

Take a moment in this month to reflect, to review and to think about the many wonderful opportunities available to help you to succeed.

Our business has indeed evolved from the stereotypical vision of the back slapping and “pushy” salesperson that we were perceived to be in the past.

Today, the modern and up-tothe-minute agent has all the tools necessary to be on top of the latest technology at hand. The agent of the future will be better equipped and more skilled as more and more brokerages segue into providing the education and teaching of skills that are necessary to compete in the changing world. Those who do not choose to be up-to-date will not be as successful as those who do.

I leave you with this quote from one of the best trainers in the industry: “A clear vision, backed by definite plans, gives you a tremendous feeling of confidence and personal power” – Brian Tracey.

May I wish you and your families the very best of 2011 and may the coming year bring you only good health, happiness and prosperity.

Stan Albert, broker/manager, ABR, ASA at Re/Max Premier in Vaughan, Ont. can be reached for consultation at stanalb@rogers.com.

Stan is now celebrating 40 years as an active real estate professional. REM

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to these same core values for nearly a century, Royal LePage has grown to

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your clients and grow your business.

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A trusted Canadian brand since 1913.

History

Brand Values

Global Reach

Our founder, A.E. LePage, was a pioneer whose innovation and belief in

Royal LePage’s brand values are best expressed in our company motto:

Royal LePage REALTORS® are members of Brookfield Real Estate Services’

customer service helped transform the real estate industry. With a commitment

Helping you is what we do. Our suite of innovative marketing programs

network of over 25,000 real estate sales professionals across North America.

to these same core values for nearly a century, Royal LePage has grown to

and training tools is designed to help you deliver outstanding service to

In addition, Royal LePage’s affiliation with Leading Real Estate Companies of

become one the strongest and most trusted brands in Canadian real estate.

your clients and grow your business.

the World® provides access to over 35 countries around the world.

Visit www.royallepage.ca/careers to hear more from our team on Why Royal LePage?

26 REM JANUARY 2011

Canadian developer makes good in Grand Cayman Realtors are invited to get clients in on the ground floor of the development

By Connie Adair

I

n 1997, Mike Ryan saw a sign.

Literally.

Standing in the lobby of an old Holiday Inn in Grand Cayman, he thought the property was perfect for development.

Sadly, it was too small for the project he had in mind. Then he looked up. A sign said the 130-acre site across the street was for sale.

He contacted the planning department and although it took almost 10 years to overcome various obstacles to build, The Residences at The Ritz-Carlton, Grand Cayman opened in late 2005. Four phases of the development are now complete, but there are a dozen more to come before Dragon Bay, a 360-acre sea-to-sea residential and resort community, is complete.

The Residences at The RitzCarlton, Grand Cayman spans 144 acres from Seven Mile Beach to the North Sound on one of the Caribbean’s most prosperous islands. The $600-million resort has 365 guest rooms and suites, a spa, five restaurants and the island’s largest ballroom. The Residences, along with privately owned vacation houses, The DeckHouses, and a waterfront community dubbed Secret Harbour, are anchored by the hotel and together form the foundation of Dragon Bay. “Canadians have long been a crucial part of the market, ahead of the Americans,” says developer Ryan. “There are two direct flights, the island is welcoming and safe – the safest in the Caribbean – and with (a variety of nationalities) it’s diverse.”

Along with those features, The Ritz brand and the proven success of the four existing phases makes buying here a great opportunity and because there are so many phases yet to come, buying now is a great chance to “get in on the ground floor,” Ryan says. “We have a long-standing referral program for Realtors. It’s easy to register, easy to get here and easy to get paid.”

Realtors receive a two-

per-cent referral fee.

Clients will enjoy the resort’s Endless Service program, which includes a fleet of luxury automobiles and 36-foot motor yachts available for use when people are in residence. A restaurant by chef Eric Ripert of New York restaurant Le Bernardin; a tennis centre by coach Nick Bollettieri; an Ambassadors of the Environment family program by Jean-Michel Cousteau; and a Greg Normandesigned nine-hole golf course are among the highlights.

Ryan’s inspirations for Dragon Bay are culled from a collection of experiences and places he has visited. He was born in Hamilton, Ont. While other kids were relaxing, 14-year-old Ryan had his own construction business in the Georgian Bay area. He hired other teens to paint houses and do minor repairs. At 17, he left Canada and

the establishment had made before.

“Instead of sitting around, I like to build something, make money and meet people. I like creating and making things happen,” says Ryan, who studied medieval literature and philosophy at McGill University and had a big hand in organizing concerts there.

Along the way, Ryan has chalked up experience – as a pilot, an entrepreneur, a sailor and a securities broker, as well as a seasoned traveller.

He was later drawn back into construction and development. “I would see an empty field and (want to) make something of it,” he says.

He developed a 588-acre site on Cicique del Mar peninsula and planned two major resorts and private homes. The project ran into financial trouble, but as luck would

The DeckHouses

headed to Europe. “Hamilton was a great place to grow up in the ’60s and ’70s. It was safe and enough of a city with culture, but the opportunity was not there. I was keen to go out and see the world,” he says.

He took a flight to Amsterdam – the destination with the cheapest ticket offered by CP Air that day – and worked as a chambermaid. There, his 6’ 2” stature came in handy. “I could stand on one side of the bed and make both sides,” he says. His hard work soon made an impression on the owner, and the then-bearded but underaged Ryan, looking older than his years, was soon running the bar and raking in more money than

The Residences at The Ritz-Carlton

have it, that’s when The RitzCarlton approached him to create a project that would bear their brand name.

Ryan had worked as a general manager with Mont Ste. Anne in Quebec. The 256-room hotel has 100 chalets and extensive ski and golf facilities. It was then that he realized the potential of developing private residential communities of second and vacation homes along with a full-service luxury resort.

Travels to Venice, Singapore, the Greek Islands and Parry Sound in Muskoka, where he says it was interesting to see how people travel by water, were inspirations for the design of the DeckHouses.

Reminiscent of the canal architecture of Venice, The DeckHouses offer seamless outdoor and indoor living, oriented to the water and in most cases access to boating. Homes consist of 19 fivebedroom, five-bathroom singlefamily homes with wrap-around decking and an infinity pool. Each home is on a private island. The DeckHouses, priced from $4.4-million, are in the heart of the resort and are connected by waterways.

Secret Harbour homes,

Mike Ryan

inspired by European marina villages, start in the $1-million range.

The 125 one to four-bedroom residences are also surrounded by water.

The Residences at The RitzCarlton offers 69 oceanfront homes.

Cayman Island, a British overseas territory, is a one-hour flight southwest of Florida. There is no legal restriction on ownership of real estate by foreigners. Grand Cayman has no sales tax, no income tax, no capital gains, no property tax and no inheritance tax. Local banks will generally lend between about 50 and 75 per cent of the property value to nonCaymanians, says a company news release.

For more information about Dragon Bay, visit www.dragonbayrealty.com. A portal allows Realtors to find additional information and incentives to sell DeckHouses and other residential offerings at The Ritz-Carlton.

REM

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28 REM JANUARY 2011

Help clients save by going green GREEN REAL ESTATE

By Elden Freeman

T

he weather outside might be frightful but even more fearsome are the meters doing their fast-forward spin on winter energy costs.

As a real estate professional, it behoves you to serve your clients well by knowing about the environmental shape of that property you’re showing. The average house consumes about $2,000 per year in energy costs. Help your clients define what they’ll need to spend to make their purchase a happy, efficient and affordable one.

So let’s start our tour on how to green your home: Basement or utility room: If the furnace is more than 15 years old, consider replacing it. Newer models are 90 per cent or more efficient compared to older ones, which may be as low as 60 per cent or less. Turn down the heat on your water temperature and be sure to maintain your heating and cooling systems. Make sure water lines are insulated.

Kitchen: Electrical appliances use a whopping 30 per cent of energy in a typical home with refrigeration taking up about eight per cent of that. New appliances are up to three times more efficient than their older counterparts. Be sure to unplug secondary fridges and freezers and only run the dishwasher when it’s full.

Family room: Because heating and cooling represent about 45 per cent of total energy costs, use a programmable thermostat so you can set it cooler in winter and warmer in summer. Be sure to close the damper on your fireplace

and unplug electronics when they’re not in use.

Bedroom: Bedrooms use up to about 11 per cent of a home’s lighting consumption. Replace incandescent lights with compact fluorescent lights.

Bathroom: The most obvious way to save energy in the bathroom is to use less water, especially hot water. Showers and baths use over 50 per cent of a house’s water consumption while toilets use 20 to 30 per cent.

Install low-flow toilets, faucets and showerheads. Take shorter, cooler showers.

Roof: Up to one-third of the heat produced in a house is lost through the roof, walls and ceiling.

Add insulation to hike R-values to 32 or more. Use ceiling fans to stay cool in summer and install a solar hot water system.

Windows and doors: While highly efficient, new windows and doors aren’t always affordable. As an alternative, caulk and weather strip leaky windows and doors.

Consider adding low-e glazing to storm windows.

Landscaping: Smaller lawns mean less maintenance and less watering. To reduce the effects of harsh winter winds, plant a windbreak along the windward side of the house. Deciduous trees planted along the south side help with cooling.

Being in a position to take the energy pulse of a property will put you ahead of your colleagues.

Clients will appreciate your expertise and you’ll take pride knowing that you’ve done the right thing for our environment by taking the high road.

For more information about how to help your clients green their homes, visit www.nagab.org.

Elden Freeman B.A., M.E.S, broker is the founder and executive director of the non-profit National Association of Green Agents and Brokers (NAGAB). Freeman believes that Realtors across Canada can play an important role in educating their clients on increasing energy efficiency and reducing greenhouse gas emissions. (416) 536-7325; REM elden@nagab.org

REM JANUARY 2011 29

LEGAL ISSUES

By Donald H. Lapowich

A

town sold a piece of land under a tax sale. As it turned out, the land allegedly was formerly used as a landfill site and was unsuitable for residential development. This was not disclosed by the town.

However, when the developer who purchased the land took legal action, the action was dismissed inter alia on its merits. The act governing municipal tax sales states that the municipality makes no representations on title or any other matters relating to the land to be sold.

The court also found that the plaintiff was a knowledgeable land developer and could have made investigations of the suitability of the land.

■ ■ ■

I have always been a proponent of having insurance, whether it’s E & O as a professional, general liability for home, or office or business insurance. In a different vein, consider automobile insurance and the following scenario: A woman walked out of a store and hit her head on a pole protruding from a parked truck (parked the wrong way in front of the store). This resulted in a serious head injury. The truck’s owner could not be identified, so the woman (owner of a motor vehicle policy) sued her own insurance company for injuries sustained when struck or hit by an unidentified vehicle.

The Appeal Court allowed the coverage, even though the truck was stopped when the injured woman was struck by the pole protruding from it.

■ ■ ■

In an Alberta case, the purchaser agreed to buy some land, intending to construct industrial

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condominiums. In the agreement, the purchaser agreed to undertake the expense of access.

Subsequently, the vendor unilaterally demanded that the purchaser guarantee payment of the costs of access and prepay certain expenses.

The purchaser refused and the vendor treated the contract as if it

The court found that the plaintiff was a knowledgeable land developer and could have made investigations of the suitability of the land.

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were at an end. The purchaser sued for specific performance.

The vendor attempted to use a summary count procedure to dismiss the purchaser’s action for specific performance on the basis that the property was not unique. This was refused. The court ruled the purchaser had an “arguable” case since the property was close to the purchaser’s location and the purchaser had spent some money designing buildings for the specific property elevation. The vendor had also represented to the purchaser that this property was the “best available”.

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.

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30 REM JANUARY 2011

Real Estate Technology Royal LePage State unveils new mobile service

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Royal LePage State Realty in Stoney Creek, Ont. recently unveiled a new service that will allow homebuyers to find information about real estate listings in their area using their mobile devices. Known as Mobile Keyword, people with smart phones can text the word “state” to 65656 and can instantly view the brokerage listings in their area.

The technology is made available by Lone Wolf Real Estate Technologies of Cambridge, Ont. Based on the location of the person making the text, Mobile Keyword, using GPS technology, zeroes in on where the person is

Joe Ferrante, broker of record with Royal LePage State Realty, demonstrates the company’s new technology that allows homebuyers to find information about homes in their geographic area.

Personal Finances f you own a small business, you need insurance. But how much and what kind?

“Insurance can be one strategy to manage your risk,” says chartered accountant Vic Skot, principal, Benefit Partners Inc. in Barrie, Ont. “It can give the business owner and the corporation ways to manage and mitigate their risks that are both tax and cost effective.”

Life insurance is important, whether you are a sole owner or have a business partner. “If a sole owner dies, life insurance can help the business continue and/or liquidate in an orderly manner,” says Skot. “If you have a partner and one of you dies, insurance can provide the cash the surviving partner needs to acquire the shares of the

I

business and keep it running.”

If you become ill or have an accident, disability insurance can protect your income stream while you are unable to work. “A subset of disability insurance is critical illness insurance,” says Skot. “It can provide the cash you might need to seek treatment to restore your health without having to tap into personal savings.”

Be sure to insure your property, inventory and equipment against such risks as fire and theft. “You need insurance to protect you from business interruption and employee dishonesty,” says chartered accountant Eric Walker, a partner with Cookson Walker LLP in Toronto. “You can customize your coverage to the size and nature of your business.”

and sends them information about homes available in that specific geographic area. Homebuyers can then view information about a particular property, including images and property details.

“We’ve always understood that technology plays an important role in getting the word out about our offerings,” says Joe Ferrante, broker of record of Royal LePage State Realty.

The technology allows homebuyers to keep track of all of the properties that they are interested in as they navigate the market.

The homebuyer can request a showing right from their phone.

“Buying a home requires a lot of information on the part of the homebuyer, and this technology will provide up-to-the-minute information that will help them make an informed decision,” says Ferrante.

Century 21 supports Agent SOS Link safety software Century 21 Canada is encouraging all real estate professionals to use Agent SOS Link to improve the level of safety for all in the

industry. The new safety application software runs on most smart phones as an alerting system in case of emergency. It also allows real estate professionals to notify coworkers about properties that may be unfit to view (due to vandalism or other property damage), and capture images of wrongdoings in their communities.

“Century 21 Canada agents are local experts and are in a great position to spot suspicious activity,” says Century 21 Canada’s president Don Lawby.

“SOS Link is another tool that will help real estate professionals stay connected and safe while helping consumers buy and sell their homes.”

It is available for iPhone (3G, 3GS, or 4G), Blackberry, Android and soon other smart phones.

To activate, an agent presses the “start” button and the smart phone will begin taking photos while simultaneously emailing them to pre-registered helpers, along with information such as time, date and a current GPS location displayed on a map.

For more information, visit REM www.soslink.com.

Small business – big insurance Liability insurance is also mandatory. “Accidents on your property may injure your staff or others,” says Walker. “Many owner-operators don’t realize that court settlements for some injuries can run up to $10 million. Talk to your insurance broker about having enough liability insurance to cover the worst-case scenario.”

Most small business owners provide group insurance benefits to their employees, which may include life, accidental death or dismemberment, extended health, dental, long-term disability and/or critical illness insurance.

“For key employees, you may want to provide additional disability or critical illness insurance because you want to get these key individuals back to work quickly or because you need to immediately hire someone to replace them if

they cannot return,” says Skot.

“Banks often require key person coverage so that their loans to a business are well protected and will be paid back if something happens to the business’s key person.”

Talk to your CA about your insurance needs. “Your CA can help determine how much coverage you should have for your inventory, property and equipment by advising your insurance broker on their value,” says Walker.

Adds Skot: “There are many different insurance products available and it can be very difficult for a layperson to determine what is necessary versus what is marketing.

Your CA can help assess your risk, analyze the options and identify the right solution for you.”

This article was written by the Institute of Chartered Accountants of REM Ontario.

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32 REM JANUARY 2011

Condo documents go electronic Dealing with status certificates, strata documents or estoppel certificates (depending on what part of the country you’re in) is now a whole lot easier By Susan Doran

I

f you specialize in condo and townhouse sales, your life just got a whole lot easier.

Brokers and agents know that the documents required in a condo or townhouse sale can stack up and be time consuming to manage. This documentation, referred to by such names as status certificates, strata documents or estoppel certificates (depending on what part of the country you’re in), details the financial health of the building and can include the operating budget, financial statements, reserve fund studies, maintenance fees, insurance documentation, declarations and bylaws (such as whether dogs or satellite dishes are allowed), assessments, engineering reports, site surveys and more.

Using traditional methods, sales reps needing to obtain such documentation have to contact the condo management company

and then either drive to the site or send a courier to pick up the paperwork – often hundreds of pages worth. Frequently, additional copies for buyers and lawyers must be made as well.

“The industry was paper heavy and very manual processed,” says Darryl Deen, president of D-Tech Consulting in Toronto. “We saw it as an opportunity to provide property managers and Realtors with efficiency across the board.”

A select few other forward thinkers across the country also noted that the time was ripe for change, with the result that here and there, fully electronic condo certificate delivery systems have become available. D-Tech Consulting’s Conduit system was among the first, having been launched a couple of years ago.

There still aren’t many companies offering similar systems. But as a rule, where they’re available,

such systems tend to be free to property management companies, while sales reps pay a small ‘convenience/administration’ fee per certificate on top of standard charges.

To use Conduit, for example, sales reps in the Greater Toronto Area pay an additional $25 per certificate.

Deen tells sales reps that it’s probably cheaper in the long run than using the old method of sending a courier or taking time out of your day to drive to the management office. And it’s certainly more convenient.

“We’ve taken a seven- or eightstep process that might take days, down to minutes…Now you can receive the certificates electronically without leaving your desk,” says Deen. “That impacts not just the industry but the environment…”

He says that “close to 50 per cent” of condo management com-

panies in the GTA have signed up to be on board with his firm’s electronic system, and the number is growing monthly.

“It makes things much easier for them too,” he says. For starters, there’s immediate savings in paper, printing and storage costs. And there’s no further need “to deal with cheques, deciphering handwriting, or people coming in the door,” since electronic transactions are paid for online by credit card.

“Real estate agents are becoming our unpaid sales force,” Deen says. “Once they use the system we find they’re pushing the management companies to come on board.”

Nevertheless, says Steven Martin of Re/Max Ocean Pacific Realty in Courtenay, B.C., “it’s a paradigm shift for condo management and there are those who are still reluctant to change their decades-old ways of operating.

Some of them are very old school.

They haven’t been forced to become tech savvy the way Realtors have.”

Martin, who a few months back launched the site StrataDocsNow.com to offer “access to a fast and secure” document delivery system, expects a six to 12 month acceptance curve.

“The site is robust to handle very large volume. Our mandate is to make sure it’s expandable,” he says.

He also points out that “with our site, when a Realtor has a condo listed for, say, 10 months, the minute the strata uploads new documents the Realtor is notified.

So they are on top of any new information the whole time they have the listing.”

Another advantage of the new electronic systems is that they provide Realtors with the assurance that all certificates will be delivered before deadline. And every document is saved onsite, ready to be retrieved if you misplace it and/or need it for future reference.

It’s definitely another wave of the future. Realtors (and property managers) may be well advised to jump in. REM

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CSP International Business Academy Gets Tough on Stagers by Taking the Industry to a Whole New Level any industry is how well it serves the consumer. Consumers want a measurement of proficiency and commitment, CSP International gives the practitioner that Christine Rae, President of CSP International and more” heard this phrase back in the 80’s when she started her corporate career and has been This is accomplished with a complete motivated by the message throughout her program of foundation training, skill set working career. and competency training, support, mentoring, specialization and continuing Rae, the highly regarded pioneer of staging education. CSP International has modeled training standards and best practices for their training and programs to help their stagers in Canada, the USA and countries graduates’ businesses succeed, not to just around the world, recently stated “after a train, send them on their way and leave decade of changing the way real estate is them to their own devices. CSP sold, the real estate staging industry took International sets standards and leads the a giant leap forward today. CSP field in education development to inspire International Training Academy is changing the practitioner and protect consumers. the way stagers will be measured in the “The staging industry is more competitive future by opening up our quality training than ever and more confusing for potential and education opportunities to all stagers students. Stagers with little or no business industry wide and offering them an or teaching experience start staging training opportunity to achieve a higher degree of programs of their own, luring potential education and level of recognition for years students with low rates; the adage” when of experience in the field”. you buy cheap price you sacrifice value” springs to mind. The only one who gains “The qualification differential for the with cheap training is the company “International Master” designation is providing it. Undoubtedly, the difference the recognition of experience”. CSP is for the student is significant. But how does mirroring real estate professionals across a novice know this at the onset? They don’t North America who must prove know what they don’t know and proficiency in their field as part of their unfortunately Caveat Emptor is in effect! relicensing process. Rae is a firm By extensive research and exploration of believer that staging is part of the real CSP International, its comprehensive estate industry, not the decorating business training programs, mentoring, industry; she acknowledges it is a specialties, continuing education and non- regulated industry, without support, there is nothing to compare it to licensing or standardized requirements. in the marketplace.

Which is why “Our core mission for CSP Joan W. Donaldson is credited with saying “When the Going Gets Tough, the Tough Get Going!”

International has from the onset, is one of setting standards, self-regulation and instituting mandatory, standardized testing and competency requirements to ensure the consumer a baseline value and method of measurement.”

T. Fisher, real estate agent of 33 years recently said “A measurement of success in

Many attempts have been made to replicate the CSP program but it will never be duplicated. There is absolutely nothing that can compare to the CSP experience.

Elizabeth Buetow recently stated on Linked In “ I personally find recognition of quality and professionalism among REA's when I say I am CSP certified”

“Opening “Openingthe theGates gatestoto Higher Standards” higherIndustry sindustry tandards” “We want the consumer to have more confidence in professional work standards for this industry and move beyond “caveat emptor”. Rae believes this step will cement the acceptance of the profession within the real estate community.

Earning the International Master Designation requires a prerequisite of 2yrs work experience, completion of an application process including a portfolio of work, client testimonials/references in addition to 28 Continuing Education Credits awarded through the CSP International Business Training Academy. Non CSP stagers will need to achieve a passing grade of 75% or higher in an equivalency exam.

“With the growing number of professionals in the staging industry, it is more crucial than ever to set high standards, encourage lifetime and specialized industry learning” says Christine Rae, President of CSP International Business Training Academy. “We opened the program to all stagers, regardless of their initial staging training to enable everyone to achieve higher standards. The public will demand it eventually; our business mantra is to “be where the puck is going, not where it has been”. If a stager meets the requirements, passes the equivalency test, then CSP International will be honored to award a qualified professional stager the designation plus access to the resources, advantages and the support CSP offers its existing members.” All CSP International Master Graduates will be eligible for the Marketing Advantage Program including the unique Staging Standard Magazine. CSP believes certification and designations to the consumer are an important proof of skill. For a complete list of CSP Continuing Education Courses email cec@cspiacademy.com Certified Staging Professionals is the global leader for staging training with offices in Canada, USA and Australia. Founded by internationally acclaimed, staging expert and author, Christine Rae. Starting as a training program and expanding to a school, The CSP International Academy delivers comprehensive training programs for staging, decorating, EcoStaging and green build science as well as business and marketing. It provides unparalleled after-training support to real estate professionals, stagers, professional organizers, decorators and entrepreneurs.

34 REM JANUARY 2011

Hilton hotel brands woo investors R

eal estate investors looking for a “recession resistant” business were wooed in Toronto recently by a group of hotel executives representing four Hilton brands.

The focus was primarily on brands that specialize in extended stay (five consecutive days or more) bookings. “Extended stay really is recession resistant and offers great value to both to our customers and our investors,” says Dawn Koenig, vice-president, hotel performance and support for Homewood Suites and a new brand, Home2 Suites by Hilton.

In Canada, Homewood Suites has nine hotels and three more in the pipeline. It has seen occupancy rise by 9.2 per cent during the last year, and REVpar (revenue per available room) go up by 19.6 per cent. The newest Homewood Suites property in Canada (featured in REM in October) is part of a dual brand strategy. It shares its Toronto property with a Hampton Inn. Each brand has its own tower of rooms and a lobby, but they

share conference rooms, business and fitness centres and a swimming pool.

The new brand, Home2 Suites

by Hilton, is about to open its first property in Fayetteville, N.C. Koenig says it’s a mid-tier extended stay hotel that will host 70 per cent business travellers and 30 per cent leisure guests. Among the groups the brand is targeting are consultants, trainers, government employees, people who are relocating and auditors. A second group would include those in the entertainment business (for example, those with theatrical groups in limited-run shows or people in town to make a movie) and airline employees.

Suites will have living and bedroom space separated by a curtain.

Along one side of the suite will be a “working wall” that incorporates kitchen facilities and a flexible working and media space. The hotels will feature “the Oasis”, a community space that provides casual meeting space as well as individual work tables. It also

includes the serving area for a complimentary continental breakfast that will feature some hot items.

Rates at Home2 Suites will be about $30 per night less than Homewood Suites. The buy-in for investors is also less. Under two acres of land are required for a Home2 Suites site, and the cost is about $75,000 per key excluding land costs, says Koenig. A Homewood Suites development requires three to four acres and ranges from $86,000 to $126,000 per key.

Another brand on the investor’s tour was Embassy Suites.

Shawn McAteer, vice-president, brand performance support, says Embassy Suites offers “upperupscale” accommodations. “We define and dominate our own market category,” says McAteer.

“Embassy Suites represents about 70 per cent of the supply of rooms in this category.”

However, the brand has only two properties in Canada so it has lots of room for expansion. Its Niagara Falls, Ont. hotel is the

By Jim Adair

largest in the 207-property chain, and capable of hosting up to 2,000 guests at a time. The other Embassy Suites is in Montreal in a converted condominium building.

All of the hotels in the chain include an The studio layout for the new Home2 Suites by Hilton. atrium as a luxurious signature within five to seven years” in statement, but the company found Canada. that having that element as a cenThe largest chain represented tral component made expansion on the investors tour and the only and retrofitting existing space non-extended stay hotel was more difficult. It adopted a new Hampton Inn. Scott Schrank, design that moved the atrium to vice-president, brand performance the entrance, which allows new support, says the chain has more hotels to be built on three acres than 1,700 locations around the and cut construction costs by world, with 34 in Canada and nine $10,000 to $15,000 per key. The more to be completed by 2012. cost to investors is now in the Schrank says 77 per cent of all $115,000 to $125,000 range. new properties are developed by McAteer says Embassy Suites existing franchisees. “Their loyalty hopes to have “12 to 15 properties is as important as the loyalty of our approved and under construction guests,” says Schrank. REM

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REM JANUARY 2011 35

Top 10 tips for writing great ads Tip No. 4 - Put people in your photos

By Ian Grace s we established in my last column, photos and headlines should work together.

Choosing a photo that is not the front of the house as the main photograph in your ad, is a paradigm shift for most Realtors, as the industry has been doing the same old thing, for so long.

However, once we make that bold step, then we can take photographs that will complement and work with the headlines and the results can be quite amazing – very often, just like clicking on a light switch, from bad, dull, boring ads to great ads that instantly produce fabulous results for your sellers.

So now we take the next bold step by putting people and/or pets in your photos – it’s a great way to show people what they will be able to DO when they live there.

When I sold my home, my ad included a photo of my wife and I enjoying our hot tub. That made it easy for the prospective buyer to project themselves into that picture, visualizing themselves relaxing after a hard day.

When the buyer (who lived a two-hour plane flight away) phoned me on the fourth day of our advertising campaign, he only had two questions for me – “Do you get any noise from the high-

A

way” (which he saw from Google Earth, was about one km away) and “Is that you and your wife in the spa?”

As you can see, I practise what I preach.

Another example of the main photo not being the front of the property and showing people, is when we worked with a local Realtor to sell an investment property of ours.

The caption on this photo was, “Watch the waves... and the $$$’s roll in!”

Once again, see how the photo complements the headline and specifically targets the investor market? We wanted an investor to buy it as a going concern, including all furniture and that was exactly who we attracted, achieving $6,000 more than the price in the ad after the campaign had only been running for six days.

John McKenna is a Pennsylvania Realtor who hasn’t missed a listing for over 22 months since he began putting this advertising system into place. To demonstrate how a great ad campaign can make an immediate dramatic difference in results, John picked up the listing for a property that had been on the market almost three years. The previous

Realtor couldn’t sell the home for $259,000. With a very different ad campaign, John had the property sold in just a few weeks, for a staggering $289,000 – $30,000 more than the previous Realtor couldn’t sell it for. How is that for results?

The headline on the main photo was Ron and Janet recall the many family barbecues and gettogethers enjoyed on this patio.

The photo? I’m sure you’ve guessed it – a photo of a smiling Ron and Janet on their patio, next to the barbecue. Imagine how that ad stood out among all the other usual boring real estate ads showing nothing but fronts of houses.

Photos like these give life to the properties for sale and the prospective buyers can match it to the picture they already have in their own minds, of what it will be like to live in their new home.

Known internationally as “Mr. Real Estate Advertising”, Australian born Ian Grace is acknowledged as one of the world’s leading authorities on real estate advertising. Since 1994, he has delivered his programs throughout Australia, New Zealand, U.S.A, Canada and the U.K. His articles about real estate advertising have been published around the world.

REM www.iangrace.com

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This role will be responsible for the creation and execution of diverse training programs delivered through multiple channels. The curriculum will encompass all products sold through the Real Estate and Government/Utilities sectors, including GeoWarehouse, Data Mining and Mapping (customized data solutions) and Unity (an e-commerce platform that powers PayTickets amongst other products). The curriculum will also consist of both feature-based learning as well as best practice sharing within each sector. This role will involve activities ranging from the development of partnerships with industry bodies such as the Ontario Real Estate Association (OREA) and the Toronto Real Estate Board, to the handson development of the training materials and the facilitation of formal training sessions.

QUALIFICATIONS: ◆ Bachelor Degree in Business Administration or equivalent field ◆ Adult Training and Development Certification preferred ◆ Minimum of 5 years of work experience in a corporate training role, preferably in the software or B2B service industries. Strong preference to be given to those with real estate industry experience. ◆ Demonstrated ability to develop and foster effective and long term peer-topeer relationships with external stakeholders i.e. industry associations and key customers ◆ Strong coaching and “Train the Trainer” skills to create internal bench strength ◆ Strong communication and facilitation skills including the ability to creatively use resources and adapt priorities to customer driven requirements ◆ Ability to work independently with minimal supervision and also in a team environment. ◆ Demonstrated ability to develop and effectively communicate the benefits of our products through a variety of media: in writing, in person to small and large groups, and through webinars ◆ Familiarity with the Government and Utility market segments in Ontario and Canada Teranet provides business-to-government (B2G) and business-to-business (B2B) e-service solutions that enable organizations to greatly enhance the services they provide to their customers. With a combination of unique capabilities and state-of-the-art systems, Teranet is at the forefront of delivering service potential in the land, legal, and financial services industries as well as enabling electronic government service delivery.

If this position is of interest to you, please forward your resume with subject line: TERANET-TPL-0500-0104, to Teranet Inc., 123 Front Street West, Suite 700, Toronto, ON M5J 2M2 E-mail: hr@teranet.ca or via Fax: (416) 360-1687.

Watch the waves... and the $$$’s roll in!

36 REM JANUARY 2011

The hidden value in rental properties …when interest rates are low

By David Larock

I

n today’s interest-rate environment, using a rental property’s free cash flow to determine its value will significantly understate its potential return as an investment.

Free cash flow is the money you are left with once mortgage payments, property taxes and maintenance/upkeep expenses are paid.

Some rental investors take the amount they are left with (the free cash flow) each year and divide it by the amount of their investment to calculate their return. For example, if you make a down payment of $150,000 on a rental property and at the end of the first year you have $1,500 of rental income left over after paying all expenses including your mortgage payments, your investment return using free cash flow would be one per cent ($1,500/$150,000). It should come as no surprise then that investors who value income properties this way are not lining up to buy right now.

One of the golden rules of successful real estate investing is that the rent cheques must go straight to the bank to pay off the mortgage. Every time this happens, the mortgage shrinks and equity increases. The hidden value in today’s low interest-rate environment is found in the percentage of each mortgage payment that goes to principal.

To illustrate, let’s compare two scenarios. In scenario #1 we’ll use an interest rate of 8.5 per cent, which is Canada’s average fiveyear mortgage rate over the last 25 years. If you borrowed $500,000 amortized over 25 years, your total payments made in the first year would be $47,722. Of that amount, $41,533 would be eaten up by interest and only $6,189 would be used to reduce mortgage principal (13 per cent of the total).

In scenario #2, if we change the five-year interest rate to the currently available 3.7 per cent and

you borrow $500,000 under the same terms, your total payments in year one would be $30,592. Of that amount, $18,151 would be allocated to interest and a whopping $12,442 would be used to reduce mortgage principal (41 per cent of the total paid).

So in today’s interest-rate environment, not only are the payments lower, but even more importantly, the proportion of each payment that goes toward principal is more than three times greater. In scenario #2 you’re not just paying less interest, you’re paying off your mortgage twice as fast.

In the box below is a summary of what the two scenarios would look like over a five-year period, using the details from a rental property currently listed for sale by one of my Realtor partners at $669,000. (I have assumed a 2 per cent annual increase in rents and expenses because this is the lower end of the central bank’s inflationary target band.)

Note that in these examples, we are assuming no appreciation in property value. The returns shown are based solely on the free cash flow generated, combined with the amount of equity built up as the mortgage principal is reduced. If we assume annual house price appreciation of three per cent, the cumulative five-year return on investment at a 3.7 per cent inter-

est rate jumps from 47.6 per cent to 119 per cent.

Most people know that you can write off the cost of your mortgage interest against your rental income, but you can also depreciate all of the major appliances as well.

The flip side is that there is no capital gains exemption when selling an income property, but I don’t think that’s a bad trade-off if you can write off your mortgage interest instead. On balance, mortgage interest is a certainty while a capital gain is not, and what’s more, since you only incur a capital gain as a result of having just made a profit, it’s not the worst time to have to make a tax payment.

If you’ve been evaluating rental property investments using the free cash flow method, take a second look including mortgage principal payments in the calculation of your returns. You’ll be surprised at the difference it makes.

David Larock MBA, AMP, PFPC, CSC is a Toronto-based independent mortgage planner and longtime industry insider who specializes in helping clients purchase, refinance or renew their mortgages. He is an active blogger on mortgage related topics and his posts have been distributed in national media and by Realtors and financial planners. www.integratedmortgageplanners.com. REM

SCENARIO #1 – 8.5% Interest Rate Year 1 Year 2 Year 3 Year 4 Rental Income - Taxes & Expenses - Mortgage Payments = Net Revenue + Equity Build Up = Cumulative Return on Investment

$42,840 $11,220 $49,535 -$17,915 $13,406

$43,697 $11,444 $49,535 -$17,283 $20,993

$44,571 $11,673 $49,535 -$16,638 $29,240

$45,462 $11,907 $49,535 -$15,980 $38,202

-8.1%

-3.0%

2.5%

8.4%

14.8%

SCENARIO #2 – 3.7% Interest Rate Year 1 Year 2 Year 3 Year 4 Rental Income - Taxes & Expenses - Mortgage Payments = Net Revenue + Equity Build Up = Cumulative Return on Investment

Year 5

$42,000 $11,000 $49,535 -$18,535 $6,424

Year 5

$42,000 $11,000 $31,756 -$756 $12,915

$42,840 $11,220 $31,756 -$136 $26,312

$43,697 $11,444 $31,756 $497 $40,209

$44,571 $11,673 $31,756 $1,142 $54,626

$45,462 $11,907 $31,756 $1,800 $69,581

8.1%

17.5%

27.1%

37.2%

47.6%

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38 REM JANUARY 2011

Talk Like Oprah Day

By Dan St. Yves

A

few years back, syndicated humour columnist Dave Barry made Talk Like A Pirate Day famous, and it’s now “celebrated” (or at least observed) by aspiring swashbucklers every September 19. I will confess to having uttered a few shiver-metimbers over the years – whether those timbers have needed shivering or not.

“Arrr mateys, pluck me a parrot and pour another pina colada – let’s get caught in the rain!”

As fun as talking like a pirate can be, I’ve often wondered what Talk Like Antonio Banderas Day might sound like. Or even Talk Like Donald Duck Day, which would perhaps require some common-sense restrictions, such as wearing pants, unlike Donald’s inappropriate nautical semiwardrobe. Somewhat of a brisk weather fan, Mr. Duck.

Considering last year’s announcement of talk-show queen Oprah Winfrey mothballing her syndicated TV show in 2011, it may be even more prudent to consider starting this new year by launching a commemorative Talk Like Oprah Day. I’m talking of course about that trademark exuberant crescendo of hers, heard so frequently at the end of many gushing, descriptive sentences: “People, here’s Michael Booooo –BLAAAY!!!!!”

“After the break, Rachael Ray – how to make a summer salad with fresh tossed greens, diced hazelnuts, and Rocky Road EYES – CREEEAM!!!!”

“Give it up, for John TRAVOL-TAAAAHHH!!!”

Hey, why shouldn’t we be able to punctuate our own sentences with a little over-the-top enthusiasm? How many deathly dull people do YOU know who deliver even the most incredible news like they were some monotonous drone?

Come on, be honest – which sentence is more compelling: 1) “Why yes Mr. and Mrs.

Jones, I believe that this current offer would reasonably address most of your expectations and likely ensure an expedient sale of your home”, OR 2) “Looks like someone’s not going into FORE-CLO-SUUURE!!!!”

Oprah’s “Emphatic Pronunciation Technique™” would be a blast to use in so many common real estate situations: • Presenting an awkward, lowball offer? Consider defusing the situation by explaining “We know it’s a little lower than you may have been expecting, but don’t worry, we probably can’t close A-NYWAAAAY!!”

• Reading the classifieds section in the local daily newspaper, you notice your freshly expired listing is now trying to sell privately.

Don’t curse and fuss – try instead seeing how it feels if you just stick your head out your front door, and holler: “Oh, no – they’ve gone FizzBEAUUUUU!!”

What’s

New Mortgage Alliance upgrades proprietary broker software Mortgage Alliance says it has launched “the most comprehensive proprietary broker software system in the mortgage broker industry.” MortgageBoss was commissioned by Mortgage Alliance three years ago, based on the experiences of hundreds of users, months of development and feedback from the broker network. An updated version of the

• While touring some obvious lookey-loos through your next open house, liven things up with a robust: “Alright people, we’re now going to peek into the owners’ homemade S & M CHAAAMBRRRR!!”

When you think about it, there are millions of applications in everyday situations where you could possibly add a little expressive punctuation into your delivery.

Without Oprah now (at least on basic cable), we’re all going to have to take up the slack. So go ahead, try something bold the next time you’re at the grocery store checkout counter, or waiting in line at the bank.

I guarantee, you’ll make someone’s D-AAAY!!!

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 ThatDanGuy@shaw.ca. REM software was recently introduced.

“We listened and built around the broker’s workflow and we employed Mortgage Alliance professionals from across the country who were directly involved in the design and beta testing of the new MortgageBoss,” says Michael Beckette, president and CEO.

Markham stager nominated for major award Markham, Ont. area home stager Monica Stanciu of Staged 2 Sell Solutions has been named as a finalist in the Real Estate Staging Association (RESA) Home Staging Industry Award in the Professional Stager of the Year Category. Home stagers from all over North America submitted their applications for consideration for the award.

The finalists will be judged by a panel of industry professionals and the winners will be announced at the RESA Home Staging International Conference, Jan. 24 in Las Vegas.

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40 REM JANUARY 2011

Beware of homes with secondary suites The difficulty for real estate agents lies in sorting out the grey areas around legal and illegal suites under a mixed bag of conditions

By Jean Sorensen

A

s municipalities across Canada move more towards increasing housing density on land once zoned for single-family homes, real estate agents are being challenged with a barrage of conditions related to secondary living quarters.

The danger comes, says Marty Douglas, managing broker for Coast Realty Group in Courtenay, B.C., when the sales rep advertises “mortgage helper suite with $700 or $800 revenue” and the buyers qualify because of the extra revenue. Douglas says: “If it is not a legal suite and they (buyers) faced evicting the tenant, the problems can really begin for the Realtor. He really has to be cautious on suites even when the municipality turns a blind eye.”

The blind eye is more of a shift of political outlook. There has

been a general trend in the marketplace for homeowners to put in suites or convert suites illegally and municipalities largely did nothing unless a complaint was lodged. But now municipalities are passing bylaws allowing licensed suites. Even West Vancouver city council this year bowed to pressure on secondary suites and gave those with extra living units (estimated at l, 000 in the area) until Sept. 30 to register their suites or face a fine of $300 per day. (Only an estimated l0 per cent were registered when the bylaw was passed).

The difficulty for real estate agents lies in sorting out the grey areas around legal and illegal under a mixed bag of conditions.

An average of one case a year is now landing before the higher courts as municipalities and

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homeowners fight over who has what rights. In most cases that have been decided, the homeowner has lost and the B.C. Supreme Court has ordered the units to be removed or demanded extensive renovations.

“There is a rule in real estate – if you are unsure, disclose, disclose and disclose,” says Scott Carpenter of Vancouver’s The Carpenter Group, a Re/Max group of real estate consultants and associated professionals ranging from a conveyance lawyer to mortgage brokers and home staging specialists. The group works on the City of Vancouver’s west side, dealing in high-end properties.

Issues can be complex.

Owners may often think their units are legal when they are not.

Or, like the film Lost in Translation, the legality of what they own has become garbled. In the recent court case of the Corporation of the Township of Esquimalt v. Crosson (2010 BCSC 1490), an Esquimalt couple were found in breach of bylaws when their duplex actually had three suites (three kitchens and three mail addresses – although only two were legal). Court records show the previous owner converted the house to a duplex with the city approval in the early 1990s.

The previous owner testified in court he was given the right to do the conversion and he submitted an amended plan indicating a third kitchen was being installed on an amended plan. The couple relied upon the amended plan in the city files, which “appeared to be the approved plan with some additional handwritten notes.”

The previous owner couldn’t remember the name of the individual who made the red notes on the plan. But, he felt he had approval and went forward.

Staff subsequently wrote the owner a note in 1993, saying while the third kitchen in the downstairs basement would be allowed, it could not

however be used for a suite.

The judge found that the question to be determined was “not whether three kitchens were installed with permission, but whether three dwelling units were installed with permission” and while bylaws allowed for a duplex conversion, whether they also allowed for three dwelling units.

He ruled that two bylaws in effect allowed only for a duplex conversion and the suite didn’t qualify as one of non-conforming but permitted. He gave the owners six months to remove the third suite.

The case clarifies some of the situations that can arise between owners and the municipality and zoning laws. The judge in the case points to Port Coquitlam (City) v.

Hoffer (l988) BCSC Vancouver A871964, which stated “a municipal officer cannot give valid permission” to use land for something outside the bylaws and the city can’t be stopped from taking action even if the officer has made a commitment.

In Langley (City) v. Wood (1999), the city stopped the use of a two-family dwelling in a singlefamily area even though the owner had met with the building inspector and plan checker and obtained permission for its use for more than one family. When the home was moved on to the site, it was deemed that it did not fall into the category that would have made it legal non-conforming.

The home could therefore only be used for one family.

Sales reps taking any listing for a suite within an existing building need to check with municipal authorities to determine the validity of any such property, says Douglas. “The owner might say it is legal, but I tell them that I am going to have to check anyway,” he says. If the owner is not telling the truth, then “he usually says something like – oh, no, don’t do that.” That then brings the issue of whether the suite is legal into question again. (Carpenter said he also does due diligence check-

ing out what owners say – and, he does a walk-through looking for “red flags” or tell-tale signs such as low ceilings or other construction features that may signal it is not built to any standard or has not been inspected.)

Once a suite is determined to be unlicensed or illegal, there are other questions that emerge. Was it properly built and were the proper inspections carried out for the work completed? Douglas said there was a case in Comox on Vancouver Island where the city gave approval for an in-law suite over the garage. However, what the owner constructed exceeded the bylaws and the suite could not be used. Douglas has also written in REM about the problems of a Nanaimo homeowner who had to remove an in-law suite when a neighbour in a single-family development (with covenants restricting it to single family) complained. As Douglas points out, the removal occurred even though the city permitted such suites.

The lesson to Realtors is that “if you have checked the city hall zoning and the city says ‘no problem’ you still have to check the building scheme and see if it does conform,” Douglas says.

The Nanaimo case is backed up by another judgement in 2009 Robins v. Cranbrook (City) 2009 BCSC 355, 58 M.P.LR. (4th) 87.

The court there stated that the issuance of a permit, which is in any event governed by bylaw, cannot amount to a promise that a restrictive covenant in favour of the city would not be enforced.

Today, Douglas says, agents are posting the documents relating to suites online with listings. He says the selling agent has a responsibility to check with the city (and document who he or she speaks with) “and the buyer’s agent also has a responsibility to make sure the documents are correct,” he says.

Continued on page 41

REM JANUARY 2011 41

Tips for dealing with a first-time seller

By Dan Steward

S

ome people think the Canadian housing market is in a bit of a bubble; most feel that the current economic policies in place are creating a steady foundation that will enable the market to go steadily higher.

But your personal feelings on this matter, as an agent, are relatively immaterial when it comes to the universally tricky topic of dealing with first-time sellers.

What’s more important is knowing where the seller is coming from – and giving that seller all the tools he needs not only to sell his home, but to make you the real estate agent he’ll keep coming back to. Knowing how to deal with first-time sellers will enable you to stay as consistent as possible in both up and down markets. Here are some tips for doing so: 1. Get a read on the customer’s fears. You can’t adequately service a customer if you aren’t aware of his feelings about the market in general. Take an hour before doing anything else, to talk about the market, and the process of selling.

Beware Continued from page 40

The ensuing problems that can result when a house is listed with illegal suites can cause more headaches than a sales reps wants to deal with. In Burnaby (City) v.

Chiodo 2008 BCSC 491, the 1950s house provided the original owner/builder with a temporary occupancy permit to have a kitchen and live downstairs while the upstairs was finished – a common practice of the era. Those living quarters were to be only temporary but later owners made them permanent. There was a later permit in the late ’60s to put in a bathroom, but the existing old bathroom was to have been

What does the customer think about the local real estate market?

If he is apprehensive, do some homework and provide him with some statistics and research that might allay his fears. If he thinks his house will never sell, use comparables to point out his home’s strong suits and demonstrate the value of his property (while gently mentioning areas in which the house can be improved pre-sale) and mention the motivating opportunities available to buyers in his province.

Nothing helps a nervous customer like providing him with specific, concrete information and giving him a clear picture of the interest you can generate in his property. Assure him you know a first-time sale is a daunting process, but exude the confidence that you’ll get him through it because of your knowledge.

2. Become a geography expert.

Keep informed about not only the seller’s local real estate market, but the local economy and culture as well – don’t generalize based on countrywide statistics. When talking to the seller, focus squarely on the particular issues in the area.

And that doesn’t just mean real estate. Knowing about local services – from bars and restaurants to the best dry cleaner in the area – will make your seller see you as authentic. If he feels that you understand and appreciate the little world that is his neighbour-

hood, he’ll feel more comfortable with you throughout the sale process and may begin to trust your recommendations.

3. Be the decorator – but be subtle about it. Home staging is important to selling these days, but the first-time seller might be jarred by your calls to get rid of personal items and transform the Quebec one-bedroom from antiqueaccented to minimal Bauhaus chic.

An experienced seller likely knows that he has to stage his home; but, for a first-time seller, this process can be a surprise.

Choose things that absolutely need to be done – like new wallpaper where it’s obviously peeling, or the removal of dozens of stuffed animals on the living room sofa.

Focus on the bigger problems, rather than reorganizing someone’s Limoges collection by cool and warm colours. Never ask the seller to decorate in a style that’s not appropriate for the area, no matter what TV design experts say – a country home in New Brunswick simply doesn’t need to have the slick modernist vibe that a Montreal loft might, as the audiences for the two are completely different.

Asking too much of a first-time seller, including on the design front, might alienate him – and jeopardize a successful sale. Keep the home staging focused on the big, saleable points.

4. Conduct a home inspection.

Gently remind the seller that, as scary as it may sound to hear about potential problems with the home, a home inspection is helpful for a smooth, successful sale. Doing a home inspection will help you, along with the seller, come to a realistic price that builds in any info given by the inspector – so you aren’t surprised later when a buyer is asking for cash to cover repairs. It also might inspire the seller to make necessary repairs themselves, rather than giving the buyer the money to do it.

Buyers ask for $2 to $3 in price reduction for every $1 in perceived repair. So if there’s a termite problem that they perceive will cost $1,000 to fix, you could avoid a $2,000 - $3,000 price reduction to pay to fix it yourself. Encouraging the seller to save as much money as possible by conducting the repairs will go a long way toward establishing your credibility, as you show the seller you’re looking out for his bottom line.

5. Keep the seller focused on, and excited about, the future.

Nothing can motivate a first-time seller like getting him excited about the new house he’s going to buy. But rather than doing this from an abstract perspective, do it with detail. Inform him about opportunities and comparables in his area – but not just with printouts and emails. Take him to see a few properties, especially if he’s having a tough day and needs some motivation. Continually reference the future, and how satisfying it will be when the sale is made and he’s in a new home that he loves.

Connect on a personal level – if you know the seller treasures his piano, tell him about a great mover you know that is especially astute with packing musical instruments.

It may seem unrelated, but it is important – building the seller’s faith in a positive, worry-free sale process will help that sale process go faster.

Dan Steward is president of Pillar To Post Professional Home Inspections. www.pillartopost.com REM

Laverne Link & Candace Link Royal LePage Link Realty Steinbach, Manitoba

torn out and that was never done.

In summer 2006, the owner decided to sell and the house was listed with two suites downstairs.

A complaint was made to the city and a city inspector called the listing agent to tell her there was a problem with non-compliance.

The owner then attempted to sue the city (the case was dismissed) claiming for damages as he blamed the advice given to the real estate agent prevented him from selling the house. The judge sided with the city and ordered a list of upgrades, tear-outs and inspections to the property.

Vancouver lawyer Richard Bell, whose firm Bell Alliance deals mainly with real estate law and property purchase law, says

there is a growing trend for homeowners who have illegal suites to get them licensed before selling the house. “They are asking the city to come in and inspect them so they qualify for a legal suite,” he says. Still it is the buyer’s duty to disclose and the real estate agent’s duty “to fully advise on the property” with the clients about the perils of buying a house with an unlicensed suite, he says.

“When we do see an unauthorized suite, we make sure that it is a buyer-beware situation,” he says, adding that the owner runs the risk of having to evict tenants or carry out costly renovations.

“The cost of renovation can far exceed any income revenue,” REM says Bell.

Andy Puthon, Executive Vice President, Network Development, is pleased to announce that Candace and Laverne Link have chosen to join the Royal LePage franchise network in Steinbach, Manitoba.

Their company will operate under the name ROYAL LEPAGE LINK REALTY. Laverne Link is a top producing agent and has had a long successful real estate career in the Steinbach community.

Laverne’s daughter Candace was previously a business owner in another industry and joined her father in the real estate business 3 years ago. Candace and Laverne are excited to be joining the Royal LePage network in the expanding community of Steinbach. They are looking forward to offering a unique and competitive suite of services to the residents of Steinbach. Candace is the broker of record while Laverne will continue to focus on the sales side of the business.

Royal LePage Link Realty is proud to serve the town of Steinbach, and the surrounding communities.

Candace and her team can be reached at: Unit B-118 PTH 12N Steinbach, Manitoba R5G 1T4 Phone: 204-326-4455 Toll Free: 1-855-326-4455 Fax:204-326-4450 Email: CandaceLink@royallepage.ca Please join us in welcoming Candace, and wishing Royal LePage Link Realty much success.

For information on the Royal LePage franchise program, please call Andy Puthon directly at (416) 510-5827.

Email: franchise@royallepage.ca †

†Royal LePage is a trademark used under license.

42 REM JANUARY 2011

Presenting proceeds from the Sutton Group – Select annual charity golf tournament are, from left: James Smith, Golf Committee chair, Ron McDougall and Kelly Balderston of the London Block Parent Program and Bruce Sworik, broker of record at Sutton GroupSelect Realty.

Good Works I

n 2010 Exit Realty was the full corporate sponsor of five more Habitat for Humanity homes, bringing the total to 16 completed across the U.S. and Canada since the beginning of the company’s partnership with Habitat for Humanity. At the company’s annual convention recently in Dallas, Exit Realty recommitted its support by pledging another $313,000, bringing the total amount dedicated to $2 million to date.

Exit real estate agents from across the continent participate in home builds and a portion of every transaction fee collected by Exit Realty Corp.

International is pledged to Habitat for Humanity.

“Generosity leaves its mark,” said Christine Ireborg, Exit Realty’s liaison with Habitat, during her address in Dallas.

“Something very extraordinary happens during the months of a home build as volunteers come together to make the dream of home ownership a reality; because home builds don’t just change the future and lives of partner families across the continent, but also those of everyone involved. Volunteers leave touched by an expression of love that they have witnessed, knowing that something extremely remarkable has been shared.”

■ ■ ■

Century 21 Canada president Don Lawby is taking the Easter Seals Drop Zone plunge by rappelling down the side of a skyscraper to raise funds for the Easter Seals Kids to Camp program. Despite his confessed fear of heights, Lawby has committed to dropping down the side of an office building in the province where the most money is raised

by Century 21 system members (highest amount raised per system member, within a province).

“Children with disabilities overcome challenges every day in their lives, so the least I can do is to overcome my fear of heights” says Lawby.

Century 21 Canada launched the Century 21 Kids to Camp fundraising initiative in 2008.

With every $2,100 raised, members are able to send a disabled child to camp. The summer camps have camp fire stories and songs, swimming, kangaroo court and even a climbing wall, high rope course and a giant swing – all fully accessible to kids with disabilities. The facilities are designed to ensure that everyone, no matter their disability, has the support they need to have the time of their lives.

At the annual barbecue, from left: Dayle Murray, Tanya Vanderhoek, Glen Seymour, Vasya Seymour and Leanna Maslyuk.

At the Moncton Real Estate Board’s annual Christmas Party, funds were raised with games, a silent auction and donations to buy turkeys for the Annual Sue Stultz Turkey Drive.

The turkeys are donated to families in need at Christmastime. Last year the board donated 63 turkeys, but this year there was enough money to buy 101 turkeys. Left, board staff collects the turkeys at a Sobeys store.

■ ■ ■

Sutton Group - Select Realty in London, Ont. has held an annual charity golf tournament for the past 18 years, raising funds for a variety of charitable organizations in the community.

This year’s proceeds were dedicated to the London Block Parent Program.

The Golf Committee, chaired by Jim Smith and cochaired by Andrea Ferreira, together with Bruce Sworik, broker of record, spent six months planning the event. Fundraising was accomplished through auctions, raffle tickets and the generosity of corporate sponsors.

This year the tournament raised $12,000.

■ ■ ■

Recently the Macdonald Realty Vancouver and Commercial offices made a $20,492 gift to the Arthritis Research Centre of Canada.

Formed 10 years ago to focus on the urgent need for research into arthritis, the centre has grown Continued on page 43

Bill Dick, managing broker of Macdonald Realty Vancouver, presents a cheque to Dr. John Esdaile, scientific director of the Arthritis Research Centre of Canada.

Exit Realty on the Rock raised $100,000 for the local Ronald McDonald House.

REM JANUARY 2011 43

Good Works Continued from page 42

from a group of four to a facility with more than 45 people. It is currently the largest arthritis clinical research centre in the country, and is committed to finding answers to reduce the burden of arthritis, and to give people better, more timely and cost-effective solutions for living with their disease.

■ ■ ■

With the help of family and friends, sales rep Glen Seymour of Sutton Group - Medallion Realty in Surrey, B.C. kept the grill sizzling with salmon, hot dogs and hamburgers at the 2nd Annual Glen “Seemore” Results Salmon BBQ. The event raised $3,250 for the B.C. Children’s Hospital.

“Last year, my barbecue raised $3,005 for the Canadian Cancer Society. This year, I decided to change it up a bit.

Having children of my own and having attended the B.C. Children’s Hospital with my child, I found the staff to be most caring and professional.

Through that experience, I learned that sick children in B.C. need extra funding and support. I decided that the B.C. Children’s Hospital was a worthy cause for the proceeds,” he says.

■ ■ ■

Exit Realty on the Rock hosted a black tie gala sit-down

dinner for 700 people, with live and silent auctions at the St John’s Convention Centre recently. The evening included performances by Fatima Accordion Group, Crooked Stovepipe and Stephanie Barbour. The keynote address was delivered by national television personality Peter Mansbridge (anchor of CBC’s The National). The event raised $100,000 for Ronald McDonald House Newfoundland and Labrador.

Brokerage owner Anne Squires says, “The need for a Ronald McDonald House in Newfoundland and Labrador is truly great. For those children and families that travel great distance for care, there is an added financial and emotional burden related to the uncertainty of where they will live. By providing affordable and comfortable accommodations, Ronald McDonald House Newfoundland Labrador will remove this burden for many of these families and enable them to concentrate on helping their sick children to get well.”

■ ■ ■

Recently Exit Realty Fusion partnered with Rosewood Park Alliance Church in support of Operation Christmas Child for its Big Open House event. The public and Exit agents donated cash or gifts to the worthy cause that gives thousands of underprivileged children across the world a chance to truly enjoy

Christmas. With Exit Realty Fusion’s help, the church collected 1,000 shoeboxes filled with gifts on their first collection day.

As an incentive to donate, the brokerage entered everyone who donated in a draw for a free cruise for two to the Caribbean or Mexico.

Earlier, broker Loretta Hughes and agents Curtis Bonar, Alice King, Clair Whittington, Mike Boyce, Bonnie Stanley, James Newman, Mona Crandell, Darlene King, Alix McLellan, Zelda Luchenski, Shirley MacFarlane and Kandas McLeod volunteered at and sponsored a home in Kids Help Phones’ annual Homes for the Holidays event. Every year, with help from sponsors, Kids Help Phones get designers to transform a group of homes in Regina into Christmas wonderlands in order to raise donations for their organization.

No sooner was that event over than the residents of Regina could catch a glimpse of the Exit Realty Fusion float in Regina’s Santa Claus Parade. A group of staff and agents bore the sub-zero temperatures in order to spread some Christmas cheer. Those who attended and helped set up the float were Meggie Freed, Zach Wong, Hughes, Will Amichand, Denise Carr, Joe Senger and Clair Whittington.

Clair and Jon Whittington provided the truck and float.

Avison Young’s Vancouver office has raised more than $6,000 for Movember, the worldwide moustache-growing charity event that raises awareness and funds for prostate cancer.

Royal LePage Atlantic recently held a Monte Carlo Night in order to help raise money for several charities, including Tree of Hope, Wee Care, Youth House in Dieppe, the Royal LePage Shelter Foundation and the Down Syndrome Society. The event raised $33,000. Tickets were sold for a chance to win a flight from WestJet. In the photo, from left: Shirley Fillmore of Royal LePage Atlantic; ticket winners Kelley and Roland LeBlanc; and Roger LeBlanc of Royal LePage Atlantic.

REM

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44 REM JANUARY 2011

ones Lang LaSalle has appointed Jean-Marc Charland as vice-president in its industrial practice.

Based in Montreal and reporting to John Faratro, Charland will provide expert advice to individuals and companies leasing, purchasing, developing and disposing of industrial properties throughout Montreal but with a focus on the East End. Charland brings 15 years of experience in real estate and operations management with specialist knowledge of the manufacturing and distribution sectors. He joins from Colliers International.

This new hire follows the latest Jones Lang LaSalle office opening

in Ottawa and the recent addition of landlord representation experts Max Francischiello, Claudio Celli and Maria Yannakis based in Jones Lang LaSalle’s Montreal office.

■ ■ ■

Laurent Benarrous has been named managing director of Avison Young’s Quebec operations. Benarrous will oversee Avison Young’s operations in Quebec, including the company’s Montreal and Quebec City offices.

One of Montreal’s top tenant and leasing brokers, Benarrous joined the leasing team in Avison Young’s Montreal office in July 2010 as vice-president. He has 18 years of experience in the commercial real

■ ■ ■

Brian T. Aronovitch and Lindsay Ward have joined Avison Young’s brokerage operations in Winnipeg. Aronovitch joins Avison Young as senior representative and Ward as senior executive, investment sales. Seasoned professionals in the commercial real estate business, both were formerly with Cushman & Wakefield in Winnipeg.

Aronovitch has 45 years of experience in the commercial real estate brokerage and management business. His professional achievements include: past-president, Better Business Bureau of Winnipeg; Member of the Year Award (1999) for professionalism, Lifetime Achievement Award (2004) and Largest Office Lease Award (2006 and 2008), WinnipegRealtors - Commercial Division.

Ward has been active in the

Canadian real estate investment and development business for 30 years and has been associated with many of Canada’s premier real estate assets. His background includes senior portfolio management positions with real estate development and institutional investment advisors.

■ ■ ■

British Columbia Investment Management Corporation (bcIMC) recently celebrated the Southcore Financial Centre’s topping-off ceremony of the PwC Tower, and a groundbreaking event for another office tower and a new flagship Delta Toronto hotel.

The 650,000 sq. ft. PwC Tower at 18 York St. will be headquarters to accounting firm PwC, and is scheduled for occupancy in fall 2011. The placing of the final beam on the rooftop of the PwC Tower concludes SFC’s first phase of development, involving 542 construction days by the EllisDon team. Following the topping-off event, a groundbreaking ceremony launched SFC’s second phase of

development: a second office building – the 30-storey, 700,000 sq. ft. Bremner Tower – and the 45storey Delta Toronto – a premium four-star hotel.

Encompassing a full block from York Street to Lower Simcoe Street and within walking distance of King and Bay, the SFC complex will be built to a high level of sustainability with PwC Tower and Bremner Tower targeting LEED Gold certification.

The new Delta Toronto, set to open in 2014, will provide 566 well-appointed, generously sized guest rooms, including 24 extended-stay suites for travelers who are in the city for a longer period of time, the company says. The hotel will feature the latest in sustainable design including heatrecovery ventilation, low-flow fixtures, smart cards to control room lighting and air based on suite occupancy, and green roofs throughout the building.

“This four-star hotel will serve as a flagship property for Delta and, through its many innovative features, will allow us to exceed the expectations of our guests,” says

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estate industry and, prior to joining the company, specialized in tenant representation services in the Montreal market for Jones Lang LaSalle.

REM JANUARY 2011 45

Hank Stackhouse, president and CEO, Delta Hotels and Resorts.

“The Delta Toronto will be strategically located within walking distance to Toronto’s financial and entertainment districts, allowing us to fulfill the needs of both business and leisure travellers and connect them to the city in a convenient way.”

Centrally positioned between the PwC Tower and the Delta Toronto, SFC’s Bremner Tower – projected to be completed by December 2013 – will bridge the adjacent buildings and form the heart of the SFC complex along Bremner Boulevard. The project is being developed by GWL Realty Advisors Inc. on behalf of bcIMC. For information: www.southcore.ca.

■ ■ ■

The Absolute Towers, two distinctive residential towers designed by Beijing-based design collaboration MAD, topped out recently at 170 meters in Mississauga, Ont. MAD associate partner Ping Jiang says, “We are happy that so many people like the building. We believe the two towers are unique architecture which links the city and nature by introducing those beautiful curves. It is exciting to see these towers from outside now, but it will be more exciting to live inside.”

Design of the Absolute Towers, nicknamed the Marilyn Monroe towers, started in 2006. The topping out of the second 50-storey tower is expected next spring while completion for both towers is scheduled for fall 2011. REM

IF YOU CAN READ THIS YOU SHOULD BE AN EXECUTIVE The PwC Tower (left) recently celebrated its topping-off ceremony. A ground-breaking was also held for the Bremner Tower and the Delta Toronto hotel.

Mississauga’s Absolute Towers

Get the free mobile app at

http://gettag.mobi Jean-Marc Charland

Laurent Benarrous

GOURMET COOKING for real estate professionals

By Carolyne Lederer

C

rudités are very popular all year round – as hors d’ouvres or just as everyday snacks.

The name comes from the word crude, which means in its raw or natural state. Save this recipe for the summer, when all the Canadian grown vegetables are so plentiful – that’s the time to make large plates full of carrot strips, celery sticks, broccoli and cauliflower flowerets, green onions, green, red, yellow and orange peppers and cherry tomatoes in all colours. The sky’s the limit.

Brian T. Aronovitch

Lindsay Ward

Delicious dips Any or all of these vegetables can be presented in a most appetizing way on kitchen dishes, fine dinner china, or even on paper plates.

With summer being such a short season in this country, you’ll want to take advantage of your garden goodies as often as possible and there’s no better way to acquire all your body’s food requirements than to munch on raw vegetables. Keep a bowl of prepared dip on hand and along with those barbecued steaks, chicken or fish, you’ll have a full-course, nutrition-packed meal. Here are a few recipes for favourite dips.

sprinkle paprika sprinkle garlic salt 1-1/2 t vermouth drop of Tabasco sauce Combine all ingredients well.

Chill. Serve with fresh vegetables.

OR 1 small carton of sour cream 3 t finely chopped chives (or substitute chopped dill) salt and pepper Combine all ingredients well.

Chill. Serve with fresh vegetables.

You can mix and match any of these variations. Try it. You’ll come back for more.

3/4 lb. creamy cottage cheese 2 green onions, chopped fine salt, pepper and a sprinkle of parsley Combine all ingredients well.

Chill. Serve with fresh vegetables.

OR 1/2 lb. cream cheese (Philadelphia) 1/4 t ground oregano 1/4 t Italian seasoning 1/4 t loose dry thyme

Carolyne Lederer is broker of record at Carolyne Realty Corp.

Proudly putting her name to her work for 29 years, she serves Burlington and Brampton, Ont. residential real estate clients. She also has a cookbook in the works. Email Carolyne at BurlingtonHomes@Carolyne.com www.Carolyne.com or www.MillcroftHomes.com REM

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46 REM JANUARY 2011

THE PUBLISHER’S PAGE

By Heino Molls

S

ome months ago I had a conversation with a young man who worked at McDonald’s to earn extra money for university tuition. He told me about a customer who threw a cola at him because he had mistakenly given it to him instead of the orange drink he had ordered. The cola was sticky and was stuck on his skin for the rest of his shift until he could get home to shower it off.

The customer walked away thinking that he was justified and most assuredly showed no remorse for his behaviour.

An episode like this is unusual, of course, but truth be told, things

The Golden Rule like that happen more frequently these days than they ever did before. It seems immature impulsive actions are no longer solely in the realm of young kids and teenagers. Many adults in their 30s and 40s behave badly by lashing out verbally with mean words or biting sarcasm, and even physical action as in the case of that customer at McDonald’s.

I have heard a lot of theories about why people behave so badly more often in our world today. I am told that the pressures of life are far greater these days than they ever were before. I have heard that immigrants to our country have bad manners and they bring bad lifestyles here from their old countries. I have been advised that computers and the Internet have made us all insular and taken away our need for real interaction so our social skills have been lost. What nonsense.

We have not been practicing and we have not been teaching the Golden Rule. It’s as simple as that.

The Golden Rule works best in

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times of great pressure and peril.

When things are tough, when all seems lost, these are the moments of gallantry by gentlemen and ladies who step forward with benevolence and kindness to others.

The Golden Rule is universal.

It has no boundaries of country so it has no immigrants. It has no divisions of culture. The Golden rule appears in all Good Books of all faiths. Even in the poorest of learning places on earth common courtesy can be taught and understood by the very youngest and the most vulnerable of all societies.

The Golden Rule will function well and work in the most isolated areas. It works just as well in the midst of cities with the highest densities and mesh of humanity.

How much more simple can it be to do unto others as you would ask others to do unto you? How hard can it be to say please and thank you? The Golden Rule is

basic and easy. If we have not taught this rule to our children and others by our own example, then the fault lies with me and you. It’s on us to get it back.

When was the last time you saw someone give a seat to someone else on the bus or the subway?

When was the last time it was understood to let a motorist in front without the car behind trying to sneak past as well? We have lost the fundamental concept of taking turns. Back in the day if I ever went through a door without holding it open for a lady I would find myself with a thick ear to remember not to let that happen again.

Those days are long ago.

It’s not as if I have forgotten. It’s not as if you have either. We just don’t do or see these simple courtesies day to day so much anymore.

It is understood that selling is the key to almost any business. It should be basic that the Golden Rule is paramount in sales and

Trade Shows and Conferences For complete listings, visit www.remonline.com To add a listing to this calendar, email jim@remonline.com Calgary Real Estate Board’s Annual Forecast Conference & Trade Show Tuesday, Jan. 18 BMO Centre (formerly the Stampede Roundup Centre) Calgary www.crebforecast.com The Banff Western Connection Jan. 27 - 29 Fairmont Banff Springs Hotel Banff, Alta. www.banffwesternconnection.com Re/Max of Western Canada 28th Annual Conference Feb. 3 - 5 Vancouver Convention and Exhibition Centre, Vancouver www.remax-western.ca/evolution/

Royal LePage Eastern Canada Conference Feb. 4 – 5 Moncton Shayne Trites – strites@royallepage.ca La Capitale Real Estate Network National Performance Gala Saturday, Feb. 5 Sheraton Centre Montreal fmasse@lacapitalevendu.com Fraser Valley Real Estate Board Conference and Trade Show Feb. 9 -11 Langley, B.C. 1-877-286-5685

marketing anything. Yet we trade stories about looking for store clerks when we want to buy something. We dread having to phone about cable TV or government services and being put on hold for hours.

There is no sales and marketing professional who understands or should understand the Golden Rule better than a real estate professional. There is no person to set a better example in business and in life than a real estate salesperson.

As we move forward through this year and contemplate all the great things that are unfolding before us in technology and in manufactured goods, Lord let us not forget civility. Let us not forget the Golden Rule.

I wish you success in the year ahead.

Heino Molls is the publisher of REM. Email heino@remonline.com.

REM

New Brunswick Real Estate Association AGM & Conference March 29 – 31 Delta Beausejour Hotel Moncton, N.B. Erika Smith – esmith@nbrea.ca Muskoka & Haliburton Association of Realtors Trade Show Wednesday, April 20 Huntsville, Ont. London St. Thomas Association of Realtors Trade Show Tuesday, Apr. 26 London Convention Centre, London Jenny True – jenny@lstar.ca Toronto Real Estate Board Realtor Quest May 4 – 5 Toronto Congress Centre, Toronto www.realtor-quest.ca Kitchener-Waterloo Real Estate Board Realtor Xpo Thursday, May 12 Bingemans, Kitchener Medina Moseley – medinam@kwreb.on.ca

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

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December, 2010 To: All Real Estate Professionals RE: Is it time to rethink REALTOR.ca?

For many Canadians, the Internet is the first stop on the road to homeownership. Yet, public access to real estate information remains limited, in large part due to the rules and regulations regarding the display of listing data. This is a nationwide issue that has put the industry at a competitive disadvantage at a time when for-profit businesses— designed to compete with REALTOR.ca, local boards, and real estate company sites—are establishing a foothold.

RE/MAX has been working together with other industry leaders to create an open environment through the cooperative advertising of each others listings, with the ultimate goal of allowing any member of organized real estate to participate in the data share. Obviously, our preference would be to reach an agreement on shared listings with CREA, local boards, and associations, but that remains ever elusive, despite our best efforts.

What’s clear is that CREA, local real estate boards, and associations are not serving the best interests of their membership. Real estate franchisors – whose brokers and sales associates comprise the vast majority of CREA members—are considered third parties with damaging restrictions on the use of listing data. The system, as it stands, is far from fair and equitable. REALTOR.ca is the top website in the country at present because it is the only site where you can view all real estate listings from coast-to-coast—regardless of brand. But the website itself is antiquated and difficult to maneuver. Our lone Canadian system pales in comparison to the abundance of innovative websites south of the border that are now taking listings to the next level, including REALTOR.com—the American counterpart of REALTOR.ca. Offering exceptional mapping capabilities, enhanced image display for listing photos, more in-depth property information, neighbourhood profiles (including property history, school districts and amenities etc.), as well as the ability to develop a vast array of interactive mobile applications, these sites are light years ahead of the Canadian standard. The status quo simply must change for the good of the industry, its stakeholders and consumers, who quite frankly, are well aware of the existing shortcomings.

While the tech-savvy U.S. market grows in leaps and bounds, Canada is slowly dropping off the radar of the progressive new real estate world. Our closed system has stifled creativity. Why would any real estate organization in this country build over-the-top websites with hot applications when they can’t display all product available? It would be virtually impossible for any brand or independent brokerage to be competitive, given current restrictions on Canadian listing data. Ultimately, the lack of cutting-edge technology hurts the real estate industry and greatly impedes the consumer experience.

The industry’s future is dependent on an open listings system. The time has come to level the playing field. CREA and the local boards must release their stranglehold on the listing data and start working with real estate organizations to improve the delivery of information and services. The move to free the listing data is the first step in introducing Canadians to real estate in the 21st century, a world with unlimited technological potential where the sky is the limit.

Let’s challenge CREA and the local boards to act in the interest of their members and take a leadership role in exacting positive change through a truly co-operative system. If you are in agreement, let your broker know, let your board know, and let CREA know. The bar must be raised. Complacency and progress cannot co-exist. I welcome your feedback at remaxinfo@remax-oa.com.

Sincerely,

Michael Polzler Executive Vice President and Regional Director RE/MAX Ontario-Atlantic Canada Inc.

Ontario-Atlantic Canada Inc. 7101 Syntex Drive, Mississauga, Ontario L5N 6H5 . Phone: 905-542-2400 . Fax: 905-542-2318 . Web Site: www.remax.ca