July 2019

Issue #361

July 2019

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REM’s top stories of the last 30 years Page 14

Purplebricks poised to expand in Canada Page 3

Housing as a human right Page 32

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REM JULY 2019 3

Purplebricks poised to expand in Canada Despite problems in Australia and the United States, Purplebricks COO Lukas Lhotsky says the company’s Canadian network is growing.

By Mario Toneguzzi

P

urplebricks, a real estate brokerage providing fixedfee real estate services, is poised to expand its presence in the Canadian market despite some challenges it has faced with the concept in Australia and the United States.

Lukas Lhotsky, COO and general manager for Purplebricks Canada, says the company has a growing network of about 100 Realtors across Canada operating in Ontario, Manitoba and Alberta.

There are plans to enter the market in British Columbia in the future.

Purplebricks officially launched its operations in Canada in January. The company acquired the DuProprio/ComFree Network from Yellow Pages Digital & Media Solutions Limited in June of last year.

“We’re pretty excited about what’s happening. I think that we’ve been growing very significantly since January,” says Lhotsky.

“We moved into a much bigger new space (of about 10,000 square

present, more signs on the ground.”

Lhotsky describes Purplebricks as a duly registered real estate brokerage that helps people buy and sell their home for a single fixed fee, offering the same expertise consumers would expect from traditional real estate.

The fixed fee varies a little bit by market but is generally about $799 – the cost of the core listing fee. If consumers want help with showings and negotiations, they can purchase those add-ons for a fixed fee as well.

The people who work with Purplebricks are licenced Realtors, who list the properties on the Purplebricks online network.

“They all work for us. They’re all Purplebricks Realtors,” says Lhotsky.

“We’ve had a lot of success so far and we think we can continue to make inroads. A lot of people – especially once they use the service – they say afterwards, ‘How come I didn’t always do this? It works’. That’s what gets

“The main message is incredibly simple. There are different ways that you can sell your home and you can sell your home for a fixed fee and save on commission.

That’s the core message we’re trying to get across. You don’t have to compromise on getting access to real estate expertise and getting a very high level of service and you can still get that without necessarily paying the full commission that you might in a traditional brokerage context.”

Does the Purplebricks concept appeal more in a buyers’ or sellers’ market? Lhotsky says it’s an interesting question and he really does not know. But he said the company has seen that it has been quite vibrant in both types of markets.

“Because we’ve got an offer and negotiation service, people feel really comfortable using us in very hot markets. They know we’ve got a very dedicated team that does nothing else but offers and negotiations. An individual on that team will literally do hundreds of those in a year,” he says.

“We have a very dedicated team that does nothing else but offers and negotiations,” says Lhotsky.

“An individual on that team will literally do hundreds of those in a year.” feet) in Hamilton, Ont. We’re growing in all of the markets we’re in. So, it’s exciting to see.

“We’re still a small part of what real estate represents. I think we’re modest enough to know we’re never going to be all of real estate.

There’s always going to be room for a variety of different models but we think there’s a lot of opportunity to continue to grow and to continue to offer the service that a lot of Canadians are asking for in the markets where we operate. Our goal is just to continue to be more

us excited and where we think there’s more opportunity.”

Part of the company’s recent marketing effort has been a television advertising campaign to spread the word about what it does.

“It’s being seen in a lot of places. We’ve got a pretty significant media buy that covers sporting events. We were in some of the NHL playoffs. We were in a variety of other TV shows. We did a lot of buying of daytime television as well as some of the top shows in almost all markets,” says Lhotsky.

“They literally do more in one year than most Realtors will do in a lifetime. So, in a hot market like Ottawa is right now, we’ve done very, very well. And in challenging markets… there are people that see the value because they are value conscious. There’s a lot of really smart people out there that are doing their homework and when they start to add it up they start to realize, ‘Okay, what am I really compromising? I know the market’s difficult but I’m going to get the same visibility. I’m going to

Lukas Lhotsky

get access to the same Realtor’s level of service if not more. And I can use that money right now’.”

Purplebricks’ parent company is based in London, England. It first expanded to North America in September 2017, operating in Los Angeles.

Internationally, the company has faced some recent challenges.

Its founder and chief executive Michael Bruce left the company. It also reported that it was pulling out of Australia and placing its U.S. business under review.

In early May, the company posted a report on its website that said this about the Canadian, Australian and American markets: “The Group’s Canadian business continues to perform well and trading is in line with management’s expectations. The Board has a strong belief in the future opportunities in this market.

“During the two and a half years that Purplebricks has been operating in Australia, market conditions have become increasingly challenging. This, combined with some execution errors, has

resulted in the business not delivering the progress the Board expected. The Board has therefore concluded that the prospective returns from Australia are not sufficient to justify continued investment. Accordingly, the Group has chosen to exit the Australian market and the business there has been put into an orderly run down with immediate effect, pending closure.

The business remains committed to our current customers.

“Whilst good progress has been made in launching our brand across the U.S., the Board has materially cut investment in marketing and other overheads to reduce expenditure to sustainable levels and begun a strategic review.

As part of this review, management proposes to examine the options for delivering the next phase of growth in a more effective and cost-efficient way including more closely considering the opportunities and risks associated with a materially scaled-back U.S. business. A further announcement on this strategic review will be made in due course.” REM

4 REM JULY 2019

Multiple Listings

By Jim Adair, REM Editor

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

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

C

loud-based brokerage eXp Realty is now open for business in Saskatchewan and the company will expand to Quebec, Newfoundland and Nova Scotia this summer, it recently announced. Added to existing operations in Alberta, British Columbia and Ontario, eXp Realty will operate in seven Canadian provinces.

The company has hired local teams to lead expansion and brokerage operations in each province. The Quebec provincial administrative broker is Donna Dalonzo, a Quebec native with

more than 20 years of experience in real estate. In Saskatchewan, Dave Markus has more than 12 years of real estate experience, and currently serves as the president of the Association of Regina Realtors. Nova Scotia’s provincial administrative broker is Sandy McDonald, a lifelong resident of Halifax who has been in real estate since 1982.

The company has established market share across North America with more than 19,000 agents. By the end of summer, it says it will operate in seven Canadian provinces, all 50 U.S.

states and the District of Columbia.

■ ■ ■

Julie Robert has been appointed broker of record for Royal LePage North Heritage Realty in Sudbury, Ont. Broker/owner Bruno Gobeil says Robert will use her extensive front and back office experience to run one of Sudbury’s first “noncompeting” real estate management teams. With 58 Realtors, Royal LePage North Heritage Realty is one of the largest brokerages in Sudbury.

“I’ve worked every position, from receptionist, deal secretary, controller and finally culminating to my current position as broker of record,” she says. She has been licensed since 2014 and received her broker’s license in 2018.

■ ■ ■

James Lopushinsky and Spencer Bergen have acquired the ownership of Coldwell Banker Redwood Realty in Whitehorse.

The new owners are experienced sales professionals who were already associated with the Yukon Territory brokerage.

The former owners were Frank Silvestri, Don MacDonald, Jennifer Hansen and Terry Bergen. Silvestri and MacDonald will remain with the company in a sales capacity.

Bergen and Lopushinsky were both born and raised in the Yukon.

The brokerage has been in business for over 40 years. A Coldwell Banker affiliate since 1996, the company is now the top Coldwell Banker office in Canada in unit sales for its size category.

■ ■ ■

Donna Dalonzo

Julie Robert

Dave Markus

James Lopushinsky

Sandy McDonald

Spencer Bergen

Gloria Yeung and David Birnbaum have joined Re/Max Hallmark’s Leslieville office in Toronto. Birnbaum joins Re/Max Hallmark from Forest Hill Real Estate, where he achieved Diamond Elite Status as the No. 1 sales representative in transactions throughout the province from 2015 to 2018. His business partner, Yeung, was awarded “Rookie of the Year” in her first year of real estate and ranked first in the company – Property.ca – by her third year. She has received numerous awards and was one of the top 25 sales reps of resale condominiums sold in the GTA in 2018.

Yeung is fluent in Cantonese, Mandarin and English. Birnbaum is conversant in English, Spanish and French. Yeung’s ability to connect with people from different backgrounds, cultures and age groups, gives her a competitive advantage, the company says, while Birnbaum’s background in property management for Brookfield Property Management and wide-ranging knowledge of the Condominium Act and the Landlord and Tenant Act was pivotal to his success, the company says.

■ ■ ■

Pierre Nadeau

Shami Sandhu

Brad J. Lamb

Nadeau Realty in Kingston,

Ont. is now affiliated with eXp Realty. The brokerage, led by broker/owner Pierre Nadeau, has been in business for almost 10 years and includes 15 agents and two support staff.

The new company is Nadeau Real Estate Group brokered by eXp Realty of Canada Inc., Brokerage. In a news release, it says, “This innovative brokerage is to real estate what Netflix is to Blockbuster and it’s definitely not the old real estate model that you grew up with…. Compared to the traditional real estate office, eXp Realty’s virtual office environment allows agents to collaborate and learn together no matter where they might be located.”

■ ■ ■

Realty One Group Metro in downtown Edmonton held a soft launch opening on June 10. The office is co-owned by Shami Sandhu, Cathy Pham, Tyler Ellis and Henry Gill. It also becomes the flagship international office for the franchiser, which is based in Laguna Niguel, Calif.

The ownership group partnered with Sandhu, Realty One Group of Western Canada president and regional director, who brings more than 45 years of real estate experience. Realty One Group of Western Canada also secured the rights to Manitoba, Saskatchewan, Alberta and British Columbia and offices are planned to open throughout the year.

■ ■ ■

Well-known Toronto broker and developer Brad J. Lamb recently launched Live Talk with Lamb, a new podcast co-hosted by Lamb and SiriusXM’s Todd Shapiro.

“Uncensored, frank and to-thepoint, Lamb serves up his expert insight, unabashed opinions, and practical advice for the everyday Canadian navigating the evolving real estate and development landscape,” says a news release from Lamb Development Corp. The podcast is now available for download and streaming at www.lambdevcorp.com, Apple Podcasts, Spotify and SoundCloud.

There are 10 episodes available.

Lamb has 30 years of industry experience. He has been responsible for the marketing and sales campaigns of more than 30 condominium projects across six major Canadian cities. REM

6 REM JULY 2019

New Engel & Völkers website has ‘hyper-local neighbourhood focus’

By Sohini Bhattacharya

Cover photo: ELIJAH SHARK

The website puts consumers in the driver’s seat, says Engel & Völkers.

Völkers has gained considerable international repute as a global luxury real estate and lifestyle brand that currently operates in 150 worldwide locations with upwards of 3,000 real estate advisors (agents are referred to as advisors in the company). It has 11,000 real estate professionals in more than 30 countries.

The company’s new website promises a superior search experience, which along with the usual trimmings taps into an extensive and proprietary inhouse data repository known as Engel & Völkers Intelligence or EVI. With the help of EVI, the new website for the Americas aims to put the consumer in the driver’s seat. “One of the ways we do that, for instance, is on a listing,” says Hitt.

Research supports claims that a neighbourhood is just as important as the house in the decisionmaking process of a buyer.

Drawing upon this fact, the biggest feature of the new Engel & Völkers site is its ability to provide a “hyper-local neighbourhood focus” to the buyer.

When Canadians pull up a property listing on the new website, they will have access to the property’s entire profile including days on the market, its listing history, listing brand, whether the price is trending up or down, how it compares to other properties selling in its neighbourhood, school information, commute times and walkability scores.

In an era when more agents are specializing less, says Hitt, and chasing any deal, no matter

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what the situation is, Engel & Völkers advisors pride themselves “on being hyper-local experts with a focus on market specialization within all that we represent globally,” says Jill DeSilva, senior vice president of marketing, Engel & Völkers Americas.

Depending on the market, buyers will also be able to connect with agents either via direct chat, a phone call or an online contact form.

“There’s no stopping information. Information is there. It’s always been there and it’s going to be coming at a much more rapid pace. We want to be the source of that actionable information for the buyer,” Hitt says.

For realty teams and individual agents, the new web platform provides advanced features for CRM capabilities, lead generation, content management and a personalized dashboard to drive strategy. Agents will also have access to the company’s Extensive Domestic & Global Exposure (EDGE) – a listing distribution system that provides unprecedented reach to agents and advisors wanting to showcase their property in front of qualified consumers, no matter what its geographic location.

“A lot of agents and brokers are dismissive because in their mind it’s just another syndication program or just another way to list things out in the universe,” says Hitt. But in Canada, he added, the industry

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ISSN 1201-1223

Anthony Hitt

and consumers have been much more proficient in asking questions about how the privacy of that listing information is protected. He says EDGE has safeguards in place to protect clients’ privacy.

Engel & Völkers Americas’ Canadian future is to expand “thoughtfully and strategically”, keeping their luxury brand front and centre. The company has shops in 32 locations spanning Alberta, B.C., Ontario, Nova Scotia and Quebec. “Our only challenge with our growth,” says Hitt, “is that we are highly selective of the brokers we associate with and the advisors that we bring on board. A lot of brands believe that more is better. We’re a brand that believes better is better.”

With the launch of the new website, Engel & Völkers Americas is extending its bespoke, white glove client experience to its growing online audience. “Its design showcases our advisors’ local neighbourhood expertise and helps them stand out in their markets,” says Hitt.

While live, the new web platform isn’t, by any measure, a final version. Like any software product, it will continue to evolve, based on newer data, insights and technology. REM

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W

ho is the customer of your real estate brand?

The answer to this question, says Anthony Hitt, president and CEO of Engel & Völkers Americas, was the driving force behind the development of the company’s newly launched website for the Americas, evrealestate.com.

It is also one of the main challenges facing the industry in the digital age. Real estate brands, he says, whether they want to admit it or not, build sites that are interesting and exciting to the brokers who are paying for them or the agents that they are trying to recruit.

But “that is not necessarily consistent with what the consumer is looking for or what the consumer wants,” says Hitt. His view is backed by extensive research the company conducted through several focus groups.

While he recognizes that real estate brokers and advisors are vital stakeholders of a realty’s brand, “it ultimately has to be about the consumer,” he says.

The launch of the website was announced in a news release that states “the website brings together the company’s U.S., Canada, Mexico and Caribbean network onto the integrated platform consisting of new brokerage and advisor level sites, all intuitively designed for today’s consumer journey when buying or selling a home.”

Founded in Hamburg, Germany in 1977, Engel &

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10 REM JULY 2019

Climate change and real estate C

“We cannot be a climate-denying industry and also protect homeowners,” says Chris Chopik. By Don Procter limate change is an emerging risk affecting the value of real estate, which is why Chris Chopik wrote a 75-page paper on the subject for a degree in the Master of Design in Strategic Foresight and Innovation program at Toronto’s OCAD University.

Chopik’s paper – Property Value in an Era of Climate Change – doesn’t propose any easy solutions but his research raises the need for innovation in the housing industry. And the sales rep for Toronto-based Sage Real Estate says while property owners are the most vulnerable stakeholder, Realtors need to pay heed to the impact global warming has on their business.

“If I sell a house in a floodprone area and I don’t talk to my client about that potential risk, is there a financial, litigious risk that I am taking?” he asks. It is one of many issues real estate professionals might face. While answers might depend on many factors, everyone – government, industry and the general public – should take changing climate seriously.

An experienced paraglider, Chopik has observed striking weather changes in the past decade or so while flying high on the foot-launched gliders. “I can relate to it (weather) in a more visceral way than maybe the average person from my paragliding experience and that gives me a framework that has underpinned how I look at the problem.”

He advocates the development of a real estate climate-risk index (REC) – a scientific measurement of sorts that could offer Realtors and potential buyers a “walk score” style rating for “evaluating the climate risk” of properties.

His concept for the REC is based on information he gathered

for his paper. It looks at the cost of ownership, including the (de)valuation associated with climate-risk and resilience of a property and/or a region.

Simply put, his REC assesses risk factors based on the frequency of weather events multiplied by the intensity of damage. It also accounts for secondary and tertiary sources such as properties adjacent to oceans and rivers.

Risk mitigation elements are also part of the equation. “A lot of this is based on data that will be widely available in a few years,” he says.

The REC “is about putting a lot of data in one place where we can get a risk index that is real.

Whether it is a buyer’s interest or a real estate value asset, I think a tool like this is going to be very effective at eliminating risk for the industry and make it easier for homebuyers to make better choices,” Chopik says.

Weather risk data is not new.

A case in point is an online map of sea-level rise put out by the National Oceanic and Atmospheric Administration in the U.S. It can predict the likelihood that a specific property in a seacoast town or city will be under water in the next 20 years, Chopik says.

He adds that North Carolina provides a flood risk website for any zip code in the state. “In that marketplace we can say, ‘caveat emptor,’ but in places like Ontario… we have to dig for it (information) so right now it is harder to empower the buyer to protect themselves.”

He says moving the REC from concept to reality will require a number of stakeholders – possibly a collaborative effort between insurers, governments, lenders and the real estate industry. The starting point is getting everyone to agree that climate change is

real and it will impact homes and properties, he says. “We cannot be a climate-denying industry and also protect homeowners.

“It could cost you hundreds of thousands of dollars (in property losses). Until we get to the state where everyone is prepared to be there (on the same page) it is very understandable that homeowners and Realtors are confused.”

While property loss resulting from wildfires, wind, drought and heat might result from climate change, the biggest factor today is flooding. In the U.S. 20 million residents will be “domestic migrants” as a result of storm surge and other oceanbased damage, he says.

So, what is being done about flooding in Canada? As a result of the 2013 flood in Calgary, that city has integrated flood mapping with the MLS. Calgary also offers flood protection measures for homeowners living in high-risk zones. The list includes “simple things” such as raising mechanical systems off basement floors and building up curbs around property.

“These are the types of things that can take a building from uninsurable to insurable or unsellable to sellable,” says Chopik.

He cites the city of Edmonton’s mapping of infrastructure showing at-risk points to flooding from storms as a valuable resource to Realtors and clients. Toronto, meanwhile, has charted 42 floodrisk neighbourhoods but many Realtors and their clients are not aware that they exist. “If a municipality or a regional government like a province is not releasing flood map data, then obviously we can’t ask the buyer to beware.”

Chopik’s advice to Realtors is to closely examine where the

Chris Chopik (Photo by Elijah Shark)

potential for risk is from climate change. Realtors in B.C.’s interior, for example, might research the effects of drought on well water and agricultural production. At the same time, they should talk to authorities on forest management about forest fire risks and property mitigation measures.

He says while a home might be fully insured for flood damage, the property it is on might not be insured for “stigmatized value loss. It’s not something we normally think about, nor is it something we can easily assess.”

Describing climate change as a capitalist problem, he says there are sound financial reasons for governments to take the problem

seriously: gross domestic product (GDP) goes up when money is spent responding to climate change.

The industry needs to look at climate risks and, “probably by means of disclosure, find ways to create stability in the marketplace in the face of those risks.” The integration of flooding mapping with realtor.ca is an example, he says.

“Our industry is going to be impacted by climate change whether we like it or not. The question is: ‘Do we respond with maximum capability and impact (to help reduce property risk) or do we respond in a disaster recovery kind of mode?’” REM

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12 REM JULY 2019

Website offers Edmonton sold prices, history

By Mario Toneguzzi

H

onestDoor founder and CEO Dan Belostotsky says he is launching a new era in real estate transparency with a website in Edmonton that features the sold prices of homes and condos, property history and future growth projections for most city properties.

HonestDoor.com features the following free information for each property: • last sold price of a property (residential and commercial); • daily updated price estimates appear for each property using a proprietary machine learning valuation model called HonestDoor Price; • neighbourhood growth rate; • annual property taxes on the property; • permit data; and • transaction history.

“It was born out of my own frustration. I felt like there’s only a few people – kind of one per cent

of people – who had all the information. I’m not saying they were taking advantage of the situation but if one per cent of the people have it, I believe that the other 99 per cent of the people should have it,” says Belostotsky.

“Whatever the consumers choose to do with it is up to them but I just thought I would perhaps level the playing field. I just didn’t like it that one group had info and the other didn’t.”

Belostotsky says the data on each individual property is curated from a variety of sources.

“It’s a lot of work. It’s a lot of manual work. It’s a lot of people involved. Some of it we have to pay for, some of it we don’t, some of it’s on open data. We can’t really reveal how or who we go to but we kind of mesh it all together,” he says.

Belostotsky says the company is also experimenting with an ibuyer model, in which they use technology to come up with an

offer to buy a home, then resell it.

It’s similar to what companies such as Zillow are doing in the United States.

“We’ve already purchased about 15 homes in Edmonton under our model. So, we’re really experimenting with the math, the calculations there, if we can make it work. We’re not heading in that direction just yet but we’re definitely exploring that possibility and we needed to transact on some homes to really kind of prove out our model.”

Belostotsky is an entrepreneur based in Edmonton. In his early 20s, he co-founded a digital billboard and media company that was acquired by The Jim Pattison Group, one of Canada’s largest companies. He later partnered with Cieslok Media, which was acquired by Bell Media. He continues to invest in businesses and real estate through his private investment company, Otto Capital. Belostotsky is a venture

partner with Panache Ventures, Canada’s most active seed-stage venture capital fund and he is a mentor with Venture Mentoring Service of Alberta, helping entrepreneurs across Alberta.

Expansion plans for HonestDoor include Calgary, Winnipeg, Vancouver, Toronto and other cities across Canada.

“We already have a lot of data in a lot of different cities . . . If we can get a little momentum here in Alberta and Western Canada we’ll definitely go to Toronto. We want to expand as fast as we can. If that means partnering with someone to get there sooner, we will. Things take time and it’s a lot of work to make it right but our definite goal is to be a Canada-wide website.”

HonestDoor is part of a growing wave of real estate technology companies in Canada, often referred to as “proptech” companies.

“Technology is changing real estate and HonestDoor is the next

stage in the proptech revolution, allowing people to take charge of their own data and make buying and selling decisions based on the best data available,” said Kyle Campbell in a news release. He’s an advisor to HonestDoor and cofounder of Retsly, which was acquired by Zillow in 2014.

“HonestDoor is a prime example of Edmonton’s growing expertise in machine learning and artificial intelligence (AI) and I am pleased to help the company expand its offerings to consumers and businesses,” said Ashif Mawji, an advisor to HonestDoor, venture partner at Rising Tide and entrepreneur, investor and community builder, in a statement.

Belostotsky says HonestDoor will add new tools and information over the coming months. He also said more transparency for consumers should help transactions move faster, which could be good for the real estate industry.

REM

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But this is NOT for most agents. You’d think everyone would run to such a system. But most agents just aren’t mature and sensible enough for it or honestly ambitious enough for it.

Get this: crazy-rich level success in this business is NOT about anything “NEW� at all. Sorry.

It’s about putting the right proven pieces, strategies, methods and tools together in just the right way so that you wind up with ‘The SYSTEM That NEVER Fails.’ Crazy-Rich is hardly ever about invention. It’s about implementation. Contrary to widely held belief, Henry Ford did not invent the horseless carriage or gasoline engine.

He developed a functioning assembly line to make the damn things, and a dealer-franchise system to get them sold. Two systems. Implementation, not invention. Steve Jobs didn’t invent

computers, PC’s or phones.

Credit his unique approach to retail and to “product launches� – two systems. Fred deLuca at Subway did not invent cold cuts, the sub sandwich or franchising – but he brought a system to it second-to-none, and got crazy-rich. “IT’S THE SYSTEM� is my rallying cry.

I did NOT invent anything in my System. Much of it came from outside of real estate and was revolutionary in real estate, but each piece I put together already lived successfully elsewhere.

Here are the three mindsets you MUST have: 1) You have to be businesslike. Most agents think and act like worker bees, buzzing about,

fad to fad, made-in-minutes guru to guru. They never create businesses. Just jobs. You have to think like a builder and developer, not a pirate. Or just a salesman. You have to think like a guy who owns 50 Subway shops or the whole company, not the guy who owns one, or the guy behind the counter making the sandwiches. If you do, what I’ll share with you will make sense to you.

2) You have to intend to get and stay RICH in this business.

Most agents are content making a

and drinking coffee like Norm hung around ‘Cheers’, forever making excuses to themselves and their families, forever waiting for the market to go back to its peak. If

ten deals in a year, they are good to go for another year. This isn’t for those folks. This is for the agent

his or her mind AND determined to earn it without selling soul to soul-numbing activities like sitting on the Wish-Chair all afternoon at open houses, doing listing presentations for prospects also having 4 more agents “audition�, playing tour guide, pushing business cards on people at cocktail parties, even – ugh! – cold-calling FSBO’s and others.

You have to be fed up, worn out and frustrated with the wayy most good-income g agents g

work and everything they trade away for their income AND ABSOLUTELY COMMITTED TO A BETTER WAY OF LIFE. It’s said no team can start winning until they are absolutely disgusted and angry and fed up with losing. You can be making a good income in real estate and still be losing. I know that from

" #$

you.

through two CEO’s since Walt.

Their system for successful storytelling has never changed or wavered. FROZEN was built on exactly the same premise and template as was Snow White.

ADHERENCE TO SYSTEM makes you crazy-rich. Flitting about has you starting over, over and over and over again. g Okay, so, do you think you would value and could

A Canadian Real Estate Agent’s Sudden “Magic Carpet Ride�

After 29 Years in the Business “I joined Craig Proctor Coaching in 2005 and quit 10 months later, falling back into what I was taught by so many coaches through the years: manual, grunt cold call prospecting. In August 2015, thankfully, I made the decision to come back. Over the next two and a half years, my income consistently escalated from $171,561.23 to $530,008.86 to $1,011,794.30.

Utilizing the amazing systems given to us, we inexpensively generate 300 to 500 leads monthly leveraging the automatic reverse prospecting Craig teaches. Craig has made my world a better place and given me a hope for the future beyond what I imagined.�

— Mario & Sandie Sconza (Vaughan, ON)

3) You have to be able to focus and employ self-discipline, to stick with a winning plan once you get one. There’s no point in wasting your time or mine if you have the attention span of a ferret drinking Starbucks, the self-control of Donald Trump, and the selfdiscipline of a puppy. Warren Buffet has not changed his investment selection system one iota in at least 20 years. Disney has gone

stick with a complete and ‘no stone unturned’, proven, up-to-date but not fad-ish, extremely productive system if you got one? If so, investigate, explore, learn. Request a FREE Coaching Consultation at: www.HighIncomeReducedEffort.com

during which we’ll share with you how to get crazy rich selling real estate even in the current market. Go there now.

This is serious.

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Learn How the “Bad� Real Estate Market Could Make YOU a Crazy Rich Agent Schedule Your Free Coaching Consultation to Learn How to Earn More Money in Less Time (One Call That Will Change Your Business and Your Life) at:

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14 REM JULY 2019

30th

Anniversary

T

he evolution of real estate marketing online. New brokerage models, from discount to flat fee to cloud-based.

Buyer brokerage. Part-time versus full-time agents. FINTRAC. FSBOs. Real estate regulation and education. The future of organized real estate.

All of the above have been major real estate industry stories during the last 30 years and continue to be hot topics. But the entity that has had the most coverage in REM and touched on all of these issues has been the federal Competition Bureau.

On December 20, 1988, seven months before REM’s first issue was launched and following investigations at several Canadian real estate boards, CREA and what was then known as the Anti-competition Bureau signed a Prohibition Order. The order was a mandatory code of conduct that prohibited CREA’s members and real estate boards from engaging in anticompetitive behaviour.

The bureau said the investigations had uncovered attempts to standardize commission rates and splits and found unreasonable restrictions on advertising and unwarranted requirements for real estate board membership. The order remained in place for 10 years.

The bureau was also busy looking into other aspects of the real estate industry. In May 1992, REM reported a win for CREA and the Winnipeg Real Estate Board. They had been charged over the board’s “principal occupation” rule, which required that the board’s members work as full-time salespeople. The case was dismissed by the Federal Court of Appeal, based on the fact that board bylaws were originally established under a charter from the province.

“There’s definitely some jubilation that someone has won one against the Anti-competition Bureau, which seems to be singling

out our industry of late,” Rob Fraser, president of the British Columbia Real Estate association, told REM. WinnipegRealtors voted to eliminate the principal occupation rule in 2018, on the advice of their legal counsel.

In the spring of 1994, REM

reported that two real estate firms in Calgary were found to have discriminated against Elite Real Estate, an independent Calgary discount firm that offered three per cent listings and was not a member of the Calgary Real Estate Board.

Elite taped phone conversations with the brokers and used them as evidence that the firms would not do business with them because they offered lower commissions.

In November 1998, REM reported that the Competition Bureau was discontinuing a 2 1/2year-old investigation of several Regina brokerages who were members of the Association of Regina Realtors (ARR). Again, a nonmember firm alleged that it was being discriminated against, and a local real estate publication said it was being boycotted by ARR members. The bureau determined that the allegations were not substantiated, but it “still had concerns about an association rule that restricted members from sharing MLS information with non-mem-

REM’s top stories of the last 30 years

By Jim Adair

bers,” REM reported.

Harry Chandler, then bureau director, told CREA’s national conference that he hoped organized real estate could create a voluntary code of conduct for the industry, to avoid future legal skirmishes with the bureau.

But the bureau continued to insist that CREA’s MLS access rules were anti-competitive and more charges were imminent until the fall of 2010, when CREA’s membership ratified the new Consent Agreement.

“The bureau’s focal point was ‘mere postings’, because they felt that the rules prevented the entry of innovative and competitive business models into the business, or their ability to remain in the business,” CREA president Georges Pahud told REM in a December 2010 story. He said CREA decided to sign the agreement for two reasons: the huge cost of litigation and the fact that working on the file was taking up a great deal of time for all the board committees and staff, as well as local and provincial associations. “We needed to get past this dispute,” he said.

Then in August 2011, the Competition Bureau filed an amended complaint to the Competition Tribunal, stating that the Toronto Real Estate Board’s virtual office website policy “would continue to thwart the development of new, innovative and efficient methods of providing real estate brokerage services using the internet.”

The Competition Tribunal ultimately agreed and after years of legal wrangling, TREB ran out of options when the Supreme Court of Canada declined to hear its appeal in August 2018.

The MLS The MLS, always the lifeblood of organized real estate, has also been a constant newsmaker in REM’s pages. In the June 1990 issue, the headline was Ontariowide MLS gains support.

In the spring of 1999, REM reported on an initiative launched by the real estate boards of Toronto, Vancouver and Montreal. The Montreal board withdrew its partnership from the project that fall.

“As envisioned by TREB and the Greater Vancouver Real Estate Board (GVREB), TVMLS will be the next generation of MLS technology, owned and operated by a new company, to be set up by TREB and GVREB,” REM reported in January 2000. “MLS.ca may become the consumer portal for TVMLS, and other boards may become investors in the new company, or simply become customers of the new national, single MLS system that TVMLS proposes to create. TREB, GVREB, other boards across the country and CREA still have to work out those details and others, such as the issue of not-for-profit boards becoming involved in what is expected to be a for-profit company.”

But all was not well with the relationship between organized real estate and Canada’s largest real estate firms, who did not want to see real estate boards setting up forprofit companies. The July 2001 issue of REM featured a photo of the Industry Leaders Group,

with representatives from Royal LePage, Re/Max Ontario-Atlantic Canada, Re/Max of Western Canada, Century 21 Canada, Coldwell Banker Canada and Prudential Real Estate Affiliates of Canada. They met with REM to promote a list of 12 demands they had for organized real estate.

These included a reduction in membership costs, increased efficiencies and the implementation of a truly national MLS system.

They said they were seriously thinking about forming their own MLS system, but wanted to work with the boards and associations.

“We’re competitors in this room, but we’re more in line with our thinking about what has to happen than organized real estate is,” said Century 21 president Don Lawby.

REM’s March 1990 issue included the headline Royal LePage may dump MLS. The story quoted president and CEO George Cormack, who was unhappy that TREB would not allow Royal LePage to access MLS listings for its own national computer network system.

In the next issue, Royal LePage assured REM that the development of a proprietary listing service would not exclude the use of MLS systems and was not intended to be a replacement for MLS.

Organized real estate REM has always offered a place for members to express their views about how they are being represented by the three levels of organized real estate. This hasn’t always made us popular with the associations (see CREA CEO Michael Bourque’s Letter to the Editor on page 16).

The amalgamation of real estate boards and provincial associations has already happened in Nova Scotia and will take place soon in Saskatchewan. Over the years several boards have threatened to cut ties with their provincial and federal counterparts, including the boards in Vancouver and Quebec. In December 1994, TREB needed a small housekeepContinued on page 16

16 REM JULY 2019

30th

Anniversary

REM’s top stories

Predictions

Continued from page 14

“Auctions, discount brokerages and buyer brokerages are among the hottest real estate trends of the ’90s,” REM reported in its May 1992 issue.

Back in the September 1990 edition, Don Williams of Re/Max Realty Properties in Mississauga, Ont. made a series of predictions for the real estate market. At the time, the market was slow across the country.

He predicted that “an aggressive American company is going to step up its activities and eventually replace Royal LePage as the No. 2 real estate company in Canada. By the end of the decade both Montreal Trust and Canada Trust will disappear from the real estate scene. Several franchises will also go bankrupt and several more mergers will take place in the industry.

“When the real estate market improves, a greater percentage of homeowners will be selling privately. The growth industry of the ’90s will be those companies that assist vendors (for a flat fee) to sell their homes privately,” wrote Williams.

He also predicted tighter government regulations for the indus-

ing change to its bylaws to ensure it could transfer membership fees to CREA and OREA. That turned into a full-scale discussion about pulling out of the two organizations, but ultimately the board decided to stay in the family.

An October 1992 REM story, Unhappy real estate board members demand accountability, outlined how boards across the country were struggling to meet the needs of both one-person brokerages and large offices with many agents. It also discussed how boards were trying to increase communication with members and attract new volunteers to serve on committees.

“The people I talk to in my travels, if they’re complaining about local boards or associations, nine times out of 10 they have very limited knowledge Battle for mls.ca Real estate community of what that board or divided as key Fraser association even does Valley vote looms Barbara Sterne, for them,” said Tom Meet the ageless Realtor Bosley, a CREA and Wireless technology for OREA past-president. real estate professionals “And that’s unfortunate, because we really do a hell of a lot.”

Real Estate Marketing

Issue #183

News

Mortgages

Technology

try, and ‘the hard sell’ will disappear and be replaced by technical knowledge and counselling skills.

“Real estate as we know it will have changed dramatically by the end of the ’90s and I believe that 80 per cent of the top people in the industry will be women.”

In his February 2009 humour column, Dan St. Yves predicted: “Interest rates will go up. Or down.

Maybe both. Maybe neither.

Maybe this predicting thing isn’t as easy as it looks.”

About once a month, REM receives a news release about a product or service that promises to forever change the way real estate is bought and sold. Some of them probably will.

Lindsay Buziak There are many other topics REM has covered that continue to

this day. The saddest one is about Victoria sales rep Lindsay Buziak, 24, who was murdered while showing a home on Feb. 2, 2008. No arrests have been made. Lindsay’s father Jeff has worked hard over the years to keep public attention focused on the case and recently he appeared on the Dr. Phil show in the U.S. We hope REM will some day be able to report on justice for REM Lindsay.

The 30 most-read stories on REMonline (since 2009)

1. How many transactions did the average Realtor do in Toronto in 2017? – Jan. 29, 2018 2. The 200 largest real estate brokers in Canada – May 31, 2011 3. Sold data coming to Realtor.ca – Oct. 3, 2018 4. Here’s what the future Realtor won’t be – Nov. 16, 2018 5. Re/Max of Western Canada recognizes top achievers – April 20, 2015 6. OREA loses real estate licensing education – Jan 30, 2017 7. Cannabis legislation and renters – Sept. 5, 2018 8.

Murder, suicide, ghosts…What must be disclosed? – Mar. 5, 2018 9. Sex at the open house – Nov. 21, 2018 10. Assigning an Agreement of Purchase and Sale – July 26, 2016 11. Phil Soper: In 5 years, you won’t recognize this industry – July 16, 2018

12. TREB loses Competition Tribunal appeal – Dec. 1, 2017 13. Supreme Court won’t hear TREB appeal – Aug. 23, 2018 14. Canada’s best cities for firsttime buyers – Feb. 20, 2019 15. CRA nets $43.7 million in fines relating to real estate transactions – May 18, 2018 16. Lockboxes and a major mandatory continuing education review – Dec. 27, 2018 17. Understanding conditional offers – June 8, 2010 18. 5 things to know about the new Cannabis Act – Aug. 9, 2018 19. Discounted commissions changing the real estate industry – Mar. 10, 2017 20. What you must know about (Ontario’s) Standard Form of Lease – Mar. 16, 2018 21 Zillow signs listings agreement with Right At Home Realty – Sept. 20, 2018 22. B.C. backtracks on dual

agency ban – Feb. 14, 2018 23. Getting your commission when signing electronically – Jan. 17, 2018 24. Door knocking for real estate professionals: What do I say?

– Mar. 28, 2018 25. Litigation and a lost deposit – Oct. 31, 2018 26. The “truth” about property disclosure statements – Dec. 4, 2009 27. Brian Rushton: Century 21 and Zillow – Aug. 20, 2018 28. Ontario’s Fair Housing Plan: New rules for buying a property with a tenant – Nov. 15, 2017 29. How “sold data” will change the Canadian real estate market forever – Sept. 6, 2018 30. Zillow fights back against Canadian critics – Jan. 28, 2019 All these stories are still accessible at www.remonline.com REM

Letters to the Editor

The CREA Report

Michael Bourque responds to letter about lobbying efforts

September 2004

The bodybuilding Realtor Barbara Bonnema doesn’t use strong-arm tactics to close her real estate deals – but she could.

Re: Is it time for CREA to hire a lobbyist?

The myths presented in the letter are erroneous. We don’t host cocktail parties. We have made over a dozen submissions on FINTRAC. We advocate regularly on the stress test.

When it comes to lobbying expertise, CREA is ranked in the top 100 lobbyists in Canada – there are currently some 9,000 reg-

istered federal lobbyists.

In fact, in the last election, both the Liberals and Conservatives included our lobbying asks in their platforms. In this years’ budget, both were implemented and more, including a $1.5 billion program to support new home buyers. We are proud of our team at CREA and the Realtors who helped make this happen in Ottawa at PAC days and in their

communities with MPs. If the letter writer wants more information for future columns, I would be happy to provide him with facts for use in a future article.

Michael Bourque CEO, The Canadian Real Estate Association REM Ottawa

Toronto shoppers search on mobile. Are your listings in front of them on Zillow — the mobile-first real estate site? It’s free and available now.

Get started at zillow.com/marketing/canada

18 REM JULY 2019 ■ ■ ■

L

ed by the London and St. Thomas Association of Realtors (LSTAR), a delegation of southwestern Ontario business, government and community leaders embarked on a trade mission to Toledo, Ohio recently to engage with top-level leadership and change makers, discussing opportunities and issues facing the Great Lakes region.

“Our goal was to identify the key issues impacting this entire region bordering the Great Lakes,” says John Geha, LSTAR CEO. “There are so many similar themes between Toledo, and London and St. Thomas. We’re grappling with housing affordability concerns, economic development, transportation needs and talent recruitment retention. There’s a tremendous opportunity to strategize together,

share best practices and develop collaborative approaches to addressing the issues.”

“This was such a valuable event on multiple levels,” says Bill Brennan, director of business services for Lucas County, Ohio. “It was a chance to break down silos and engage in meaningful dialogue.

Not only did I learn more about the trends happening with our Canadian neighbours, but I also had the opportunity to hear about some new projects being implemented in Toledo and throughout the county.”

Discussion is underway for a reciprocal visit by the Toledo representatives to the London and St. Thomas region later this year, as well as identifying potential collaboration opportunities between Toledo and London and St. Thomas.

The Land Title and Survey Authority of British Columbia (LTSA) and the Real Estate Board of Greater Vancouver (REBGV) have partnered to allow REBGV members access to the LTSA’s Autoprop technology as part of their membership benefits.

Autoprop is used to retrieve, export and visualize real estate data information from various sources.

It allows Realtors to incorporate more than 125 paid subscription database sources into a single search, providing easy access to a wide range of property information, says LTSA. “Autoprop eliminates the need to search multiple sources for property information and enables Realtors to provide proper due diligence to their clients,” says Connie Fair, president and CEO of LTSA. “Consumers will benefit from increased transparency and access to information, helping them make informed real estate decisions.”

LTSA is a statutory corporation formed in 2005 and is responsible for administering the land title and survey systems of B.C. It is established as a regula-

tory authority, independent from government.

■ ■ ■

Regina Realtors, long-time supporters of the North Central Family Centre (NCFC), say they see the difference the centre is making in the lives of many youth and they want to continue being part of that success. Since 2006, The Association of Regina Realtors (ARR) has provided annual sponsorship of the NCFC. In 2019, the ARR once again donated $5,000.

The ARR’s support this year will go towards the NCFC Boys’ Leadership Program and Youth Empowerment Program to help provide equipment needed for youth to enter the workforce while, at the same time, making a difference in their community.

Keyowski has a background in economics and not-for-profit association management. She was previously manager of property information services at the Association of Regina Realtors.

The board says, “The competition for a new CEO for OMREB is well underway and an announcement of the successful candidate is expected in the weeks ahead.”

REM

■ ■ ■

Lynette Keyowski has resigned as CEO of the Okanagan Mainline Real Estate Board (OMREB). The board says Keyowski says she left “to pursue other interests that allow me to more freely align my skillset … for all Realtors in Canada.”

Above: The trade delegation travelled to Toledo, Ohio.

Recognizing

2018 JoAnn & Rob Landry

Rod McLeod BRITISH COLUMBIA

NATIONAL & ONTARIO Royal LePage

Royal LePage Burloak Real Estate Services* Burlington, ON

Royal LePage The Realty Group Grand Prairie, AB

François Léger & Christian Bouvrette

EAST COAST

QUEBEC

Royal LePage Turner Realty

Royal LePage Humania* Saint-Sauveur, QC

RECIPIENT

Yvon St-Amant

Rick Aurora

Barry Benson

Brad Hawker

RECIPIENT

FINALIST

FINALIST

FINALIST

Royal LePage Patrimoine* Repentigny, QC

Royal LePage Infinity Realty* Toronto, ON

Royal LePage Rockies West Realty Invermere, BC

Royal LePage Rocky Mountain Realty Canmore, AB

Michel Selye & Robert Weber FINALIST

Royal LePage Le Carrefour* Laval, QC

Sugan Sivarajah Etienne Mellor

Arvind Grewal

FINALIST

RECIPIENT

FINALIST

FINALIST

Royal LePage Prince Edward Realty Charlottetown, PEI

Royal LePage Ignite Realty* Toronto, ON

Royal LePage Heritage* Westmount, QC

Royal LePage Global Force Realty Surrey, BC

Jamie Schreder

RECIPIENT

FINALIST

Royal LePage Flower City Realty* Brampton, ON

Royal LePage Wolstencroft Realty Langley, BC

Debbi Guislain

Audrey Shaw

Dawn Adaszynski

NATIONAL

FINALIST

FINALIST

Royal LePage Frank Real Estate* Whitby, ON

Royal LePage Kamloops Realty & Royal LePage Westwin Realty Kamloops, BC

Royal LePage Powell River Powell River, BC

These leaders step forward to take the blame when things go awry, as they always will. And they fade into the background when accolades are bestowed, being more comfortable with giving recognition than receiving it. We insist on recognizing those who have set the standard for excellence in Canadian real estate management because they deserve our respect.

These are the best of the best. In strong markets and challenging times they are there to offer support, guidance and hard work.

NATIONAL

I am proud to call you colleagues, and friends.

DIVISION 5 Nirmal Brar

Royal LePage Humania* Saint-Sauveur, QC

A Royal LePage leader succeeds not by virtue of title or position. They are people of action who drive effective change and profitable outcomes for their teams and the firm’s clients. They are compassionate coaches who lead by example.

‡

2018

Rudy Chong

DIVISION 4

Royal LePage Prince George Prince George, BC

Performance

2018

DIVISION 2 Rod McLeod

Exceptional François Léger & Christian Bouvrette

DIVISION 3

2018

PRAIRIES

Gaye & Michael Turner

DIVISION 1

†

Prince George Prince George, BC

Angie Peters & John Krol

Phil Soper President and CEO

Jim Ouellette

Andrew Zsolt

Vivian Risi

FINALIST

RECIPIENT

FINALIST

FINALIST

Royal LePage Burloak Real Estate Services* Burlington, ON

Royal LePage Signature Realty* Toronto, ON

Royal LePage Terrequity Realty* Toronto, ON

Royal LePage Your Community Realty* Richmond Hill, ON

Rebecca Ryder

*Brokerages in Ontario, Real Estate Agency in Quebec. This is not intended as a solicitation of any sales representatives or brokers that are currently under contract. All offices are independently owned and operated, except those marked as “Royal LePage Real Estate Services Ltd., Brokerage”, “Royal LePage West Real Estate Services” and “Royal LePage Sussex”. †The Recruiter of the Year Award recognizes exceptional agent recruiting in brokerages: Division 1: 1-24 agents, Division 2: 25-49 agents, Division 3: 50-99 agents, Division 4: 100-249 agents, Division 5: 250+ agents. ‡Recognizing exceptional brokerage growth via mergers, acquisitions and recruiting. Any copying, reproduction, distribution or other use of these materials is prohibited. ©2019 Bridgemarq Real Estate Services Manager Limited. All rights reserved.

2018

Marian Barry

Merrell Dickie

Sue Symons

NATIONAL

FINALIST

FINALIST

Royal LePage True North Realty Fort McMurray, AB

Royal LePage Wildrose Real Estate Olds, AB

Royal LePage North Bay Real Estate Svcs.* North Bay, ON

royallepage.ca

Recognizing

2018 JoAnn & Rob Landry

Rod McLeod BRITISH COLUMBIA

NATIONAL & ONTARIO Royal LePage

Royal LePage Burloak Real Estate Services* Burlington, ON

Royal LePage The Realty Group Grand Prairie, AB

François Léger & Christian Bouvrette

EAST COAST

QUEBEC

Royal LePage Turner Realty

Royal LePage Humania* Saint-Sauveur, QC

RECIPIENT

Yvon St-Amant

Rick Aurora

Barry Benson

Brad Hawker

RECIPIENT

FINALIST

FINALIST

FINALIST

Royal LePage Patrimoine* Repentigny, QC

Royal LePage Infinity Realty* Toronto, ON

Royal LePage Rockies West Realty Invermere, BC

Royal LePage Rocky Mountain Realty Canmore, AB

Michel Selye & Robert Weber FINALIST

Royal LePage Le Carrefour* Laval, QC

Sugan Sivarajah Etienne Mellor

Arvind Grewal

FINALIST

RECIPIENT

FINALIST

FINALIST

Royal LePage Prince Edward Realty Charlottetown, PEI

Royal LePage Ignite Realty* Toronto, ON

Royal LePage Heritage* Westmount, QC

Royal LePage Global Force Realty Surrey, BC

Jamie Schreder

RECIPIENT

FINALIST

Royal LePage Flower City Realty* Brampton, ON

Royal LePage Wolstencroft Realty Langley, BC

Debbi Guislain

Audrey Shaw

Dawn Adaszynski

NATIONAL

FINALIST

FINALIST

Royal LePage Frank Real Estate* Whitby, ON

Royal LePage Kamloops Realty & Royal LePage Westwin Realty Kamloops, BC

Royal LePage Powell River Powell River, BC

These leaders step forward to take the blame when things go awry, as they always will. And they fade into the background when accolades are bestowed, being more comfortable with giving recognition than receiving it. We insist on recognizing those who have set the standard for excellence in Canadian real estate management because they deserve our respect.

These are the best of the best. In strong markets and challenging times they are there to offer support, guidance and hard work.

NATIONAL

I am proud to call you colleagues, and friends.

DIVISION 5 Nirmal Brar

Royal LePage Humania* Saint-Sauveur, QC

A Royal LePage leader succeeds not by virtue of title or position. They are people of action who drive effective change and profitable outcomes for their teams and the firm’s clients. They are compassionate coaches who lead by example.

‡

2018

Rudy Chong

DIVISION 4

Royal LePage Prince George Prince George, BC

Performance

2018

DIVISION 2 Rod McLeod

Exceptional François Léger & Christian Bouvrette

DIVISION 3

2018

PRAIRIES

Gaye & Michael Turner

DIVISION 1

†

Prince George Prince George, BC

Angie Peters & John Krol

Phil Soper President and CEO

Jim Ouellette

Andrew Zsolt

Vivian Risi

FINALIST

RECIPIENT

FINALIST

FINALIST

Royal LePage Burloak Real Estate Services* Burlington, ON

Royal LePage Signature Realty* Toronto, ON

Royal LePage Terrequity Realty* Toronto, ON

Royal LePage Your Community Realty* Richmond Hill, ON

Rebecca Ryder

*Brokerages in Ontario, Real Estate Agency in Quebec. This is not intended as a solicitation of any sales representatives or brokers that are currently under contract. All offices are independently owned and operated, except those marked as “Royal LePage Real Estate Services Ltd., Brokerage”, “Royal LePage West Real Estate Services” and “Royal LePage Sussex”. †The Recruiter of the Year Award recognizes exceptional agent recruiting in brokerages: Division 1: 1-24 agents, Division 2: 25-49 agents, Division 3: 50-99 agents, Division 4: 100-249 agents, Division 5: 250+ agents. ‡Recognizing exceptional brokerage growth via mergers, acquisitions and recruiting. Any copying, reproduction, distribution or other use of these materials is prohibited. ©2019 Bridgemarq Real Estate Services Manager Limited. All rights reserved.

2018

Marian Barry

Merrell Dickie

Sue Symons

NATIONAL

FINALIST

FINALIST

Royal LePage True North Realty Fort McMurray, AB

Royal LePage Wildrose Real Estate Olds, AB

Royal LePage North Bay Real Estate Svcs.* North Bay, ON

royallepage.ca

22 REM JULY 2019

Looking ahead to the next 30 years

As REM celebrates 30 years of delving into the Canadian real estate industry, it’s impossible not to speculate about the future. Five real estate authorities reveal what they think may be ahead for the Canadian real estate industry. By Toby Welch

30

remain a business that’s all about people.

th

Anniversary

J

ason A. Stephen, president of CREA and a real estate agent with Royal LePage Atlantic in Saint John, N.B., believes the need for competent Realtors will not change anytime soon.

“With 20 years in real estate, I’ve seen many changes, especially on the technology side.

As a professional organization, we’ll keep looking at trying out how best to present available properties in all the new ways consumers demand. What hasn’t changed in my time as a Realtor is the need for honest, professional advisors to guide buyers and sellers through the entire process of buying or selling a home. I’m proud to have helped many past clients achieve best results in the most efficient manner possible, something that all professional Realtors attempt to do on behalf of their clients.”

Andy Puthon, president of Coldwell Banker Canada, shares his thoughts. “With the move to online consumption, it has allowed for the globalization of real estate. Canada is an attractive destination with high levels of home ownership

Andy Puthon

and investment.”

Puthon following:

anticipates

the

•“Expect continuously evolving business models that will fuel an expansion of choice to consumers and Realtors.

‘Disruptors’ will continue to emerge and drive the development of new business models, some of which will be direct to the online consumer.

•“The online consumer represents an important source of business in our industry, where the role of big data and advancements in technology will be increasingly applied to cultivate online consumers for real estate professionals.

Technology enables consumers to not only research and review their buying and selling options online, but also to evaluate and select a real estate advisor.

• “The changing role of data and continuously heightened regulatory requirements will continue to drive the need for professional development, as licensed Realtors adapt in a rapidly evolving marketplace.

The result will be continued movement to ensure higher educational standards, which are critical to serving the needs of a consumer who will have access to more information quicker than ever before.

•“The acceleration of specialization is getting deeper. The years ahead will see a continued emergence of refined professionals in such segmentation as luxury or secondary properties, serving specialized niche markets such as condominiums, historic neighbourhoods, and retiring baby boomers. To compete effectively, it is critical for real estate professionals to evolve with these specialized markets.”

positively and negatively. While it is true that technology such as third-party data providers are changing the way business is conducted, I am confident Realtors will always be needed for their expertise, including their negotiating skills and market knowledge.”

Woolley says, “In British Columbia, regulatory changes are causing our industry to rethink many of our business models and practices to ensure we continue to deliver excellent service to both buyers and sellers. The real estate sector in B.C. works closely with government to share their insights and experiences in an effort to help shape the policy environment to consumers’ best interest. By working together, we can ensure our economy will benefit from a healthier housing market in the long term.”

president of the Toronto Real Estate Board and the broker of record of Century 21 President Realty in Toronto, has concerns about the future of the Greater Toronto Area’s housing market.

“The GTA continues to attract people to live and work in the region from all around the world. These people are attracted by the economic diversity, in terms of job opportunities in many different sectors of the economy, and cultural diversity in terms of the varying backgrounds of the population making up the region. This economic and cultural diversity will serve to attract more individuals to the region over time. All of these people will require a place to live, whether it’s in ownership housing or rental housing.”

• “Changes in technology and regulatory environments will all reinforce the consumer’s need to seek professional advisors for their real estate decisions. Despite the increased access to data through evolving technology, real estate will

Cheryl Woolley, president of the Victoria Real Estate Board and an agent with Re/ Max Camosun in Victoria, also believes there will always be demand for Realtors.

“When it comes to real estate, there is no true crystal ball to accurately predict future activity. It is a complex industry, with many variables that can affect activity both

Mike Cartwright, broker of Main Street Realty in Newmarket, Ont., sees changes coming.

“Looking at the real estate industry in the future, I see more disruptors coming into the industry like Zillow and Redfin and that will bring positive change and shake the current brokerages out of their complacent nature. Real estate is by nature a very traditional industry but these changes that are coming in technology and commission fees will force positive change in the industry.”

Gurcharan (Garry) Bhaura,

Bhaura adds, “The supply of housing has been a major issue over the past decade and will continue to be an issue over the next decade unless policy makers at all levels of government come up with ways to get more housing built throughout the region – both ownership housing and rental housing. TREB has supported research on ways to build more mid-density housing – what has been termed the ‘missing middle.’ Both ‘missing middle’ housing and transit-oriented development would help make the cost of living more affordable for many GTA households.” REM

Jason A. Stephen

Cheryl Woolley

Mike Cartwright

Gurcharan (Garry) Bhaura

REALTOR.ca Launches Skill for Amazon Alexa Buyers can now use voice search to find nearby open houses with the REALTOR.ca skill for Amazon Alexa—the first skill in Canada to include national listing information.

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24 REM JULY 2019

Improving RECO’s service standards

By Joe Richer

E

veryone agrees that consumers have more information about real estate transactions at their disposal than ever before, and that has led to higher expectations for brokers and salespeople, and for the Real Estate Council of Ontario as the industry’s Ontario regulator. RECO expects transparency and accountability from the industry, but consumers and RECO’s registrants expect the same from RECO. That’s a big reason why RECO introduced its Service Standards Report Card in October 2017.

Published quarterly, the report card outlines the levels of service the public – including registrants – can expect for most services (wait times to speak to a RECO repre-

sentative in person or over the phone, or to process either a complaint or a registration) under normal circumstances. For example, RECO established a benchmark of processing new salesperson applications within 10 business days, and a report card target of at least 80-per-cent success in hitting that benchmark; in the fourth quarter of 2018, RECO’s staff achieved a 94-per-cent success rate.

To be a modern regulator, RECO must provide timely and helpful service. Consumers and registrants who contact RECO with inquiries or to file a complaint need to know what they can expect in terms of timely service.

RECO is committed to meeting those expectations. Let me share one success story that speaks extremely well of my colleagues at RECO. Between 2014 and 2016, RECO had to cope with huge yearover-year complaint volumes. This created an inventory of complaints that made it difficult to move forward. At one point, it took an

average of 241 days to process a complaint! This was unacceptable for a modern regulator.

My colleagues established a plan, rolled up their sleeves and worked through the inventory; bold action was required, so bold action was taken. RECO made brokers of record responsible for advertising compliance, and it refined the complaint handling process to better manage compliance inquiries and complaints.

Today, RECO has a much more timely and efficient process: in 2018, the yearly average was just 82 days, but in the fourth quarter, on average, it only took only 59 days to process a complaint. That is a 75-per-cent reduction in average processing time.

The Service Standards Report Card is an important measurement, but RECO also ensures its complaints process is fair for all concerned by surveying individuals who contact RECO to lodge complaints, as well as the registrants who are the subjects of those complaints.

RECO’s survey data showed 69 per cent overall satisfaction with the complaints process, which is up from 59 per cent the year before.

And RECO’s complaints process showed marked improvements in six out of seven categories from 2017.

There’s certainly room for improvement, but the numbers indicate RECO is on the right track regarding service standards.

I’m confident those numbers will continue to improve in 2019.

RECO’s AGM Did you watch RECO’s most recent Annual General Meeting (AGM) on May 16? My colleagues, then-chair Jody Lavoie, CEO Michael Beard and I presented RECO’s Annual Report and audited financials and discussed a number of important issues, such as working with the industry to raise the bar of professionalism, getting the new Real Estate Salesperson Program ready to launch, and taking RECO’s Mandatory Continuing

Education program from good to great.

I’m pleased to report that the AGM was viewed by a record number of people – registrants and interested members of the public. Michael and Jody provided thoughtful answers to some great questions, and we enjoyed an opportunity to hear from Ontario’s Minister of Government and Consumer Services, the Honourable Bill Walker, on his government’s plans for the industry.

If you would like to watch a recording of the livestream broadcast of the AGM, or download a copy of the Annual Report, check out the RECO website.

Joseph Richer is registrar of the Real Estate Council of Ontario. He is in charge of the administration and enforcement of all rules that govern real estate professionals in Ontario.

You can find more tips at reco.on.ca, follow on Twitter @RECOhelps or on YouTube. REM

2019 INSURANCE RENEWAL Payment is due by August 16, 2019.

The total cost of professional liability insurance, including taxes and expenses is $465 for the 2019–2020 policy period.

How do I make a payment?

Registrants make their payments online via MyWeb. If you don’t already have a MyWeb account, it’s free and easy to sign up; simply visit https://myweb.reco.on.ca. Payments can be made using Visa or Mastercard.

In the interest of information security, please do not email or fax your credit card details to RECO.

in the suspension of your registration and the right to trade in real estate effective September 1, 2019.

What if I’m leaving the business?

If you’re planning on retiring or leaving the industry in the near future, consider terminating your registration prior to renewing your insurance, as insurance payments are non-refundable.

You can ask your broker of record to terminate your registration on MyWeb before the due date of August 16, 2019.

Pay by August 12, 2019 to ensure a worry-free payment before the busiest period of the renewal collection.

What if I don’t pay on time?

For frequently asked questions about this insurance renewal or for assistance, please visit www.reco.on.ca/2019renewal

If you don’t make your insurance payment by the August 16, 2019 deadline, you will become part of the suspension process.

The total insurance payment after the due date of August 16, 2019 is $500. Failing to make an insurance payment results

Contact RECO at: https://myweb.reco.on.ca P: 416-207-4800 TF: 1-800-245-6910 F: 416-207-4820 cs@reco.on.ca

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26 REM JULY 2019

Lisa McCormack jumps for joy A top sales rep in Miramichi, N.B, McCormack is also the driving force behind an inspirational anthology that contains chapters written by 24 different women. By Susan Doran

W

hen real estate sales rep Lisa McCormack tells clients that she and her team are ready to jump for them, she means it literally.

“We love what we do and we’d love to jump for you,” is Team McCormack’s motto and trademark. To promote this enthusiastic maxim, McCormack posts photos on social media in which she is jumping for – and often with – clients, celebrating everything from a new listing to closing a deal.

A leaping Realtor is an unusual image to include in marketing materials, let alone to see in person. It must elicit some double takes. And apparently there are occasional clients (grumpy ones, presumably) who decline McCormack’s invitation to join in the jumping.

She takes it in stride. After all, her marketing has helped

make her one of the most recognizable faces in the community of Miramichi, N.B., located about an hour and a half north of Moncton. The benefits of jumping are clearly not lost on Leaping Lisa. (Not to be presumptuous, but it seems reasonable to assume that this must be her local nickname, whether or not she’s aware of it.)

“It adds fun and excitement,” says McCormack, who’s with Re/Max 3000. “Kids love it. It gets everyone laughing.”

As her upbeat motto indicates, she is unyieldingly positive. A top producer with a recent Re/Max Lifetime Achievement Award under her belt, she leads a four-person team and has over 15 years of real estate experience.

Born and raised in Miramichi, known as one of the “most Irish cities in Canada,”

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McCormack was fortunate to have what she refers to as “a magical childhood.” She married her high school sweetheart.

They waited decades to have a child and then along came Chance. Now 5, he’s grown to be an enthusiastic jumper in his own right. And he has his own little business card, proclaiming him to be the toughest negotiator in town.

A self-proclaimed “country mouse,” McCormack is content being a big fish in a small pond.

She once headed to the Greater Toronto Area with plans to live there for a year, but only lasted three months.

She’s at home in Miramichi, with its mining, forestry and fishing focused economy (about half the sport catch of Atlantic salmon in North America is landed on the Miramichi River) and housing that is more affordable than in many other parts of the country.

“A lot of people call us from the Toronto area. When we tell them a home’s price, they go, ‘Really? Is it liveable?’”

McCormack laughs.

Her situation and success are not guarantees against heartache. Last year she lost her father to brain disease. A few days after he died, McCormack was asked to write a chapter for a book project being put together by motivational speaker Paula Morand (who McCormack knew via a women’s network) and branding expert Victoria Craig.

“I’d never authored anything, except for writing in my journals,” McCormack says. “But Paula suggested I write it as a tribute to my dad, and I really liked the idea.”

Titled Carpe Diem and launched last spring, the inspirational anthology contains chapters written by 24 different women. It became the No. 1 best seller on the Amazon Kindle list in the self-help category.

In her own chapter, McCormack describes her close

Lisa McCormack

relationship with her father and how she has applied what she learned from him to her business and personal life.

She credits him for instilling her strong, compassionate work ethic (“My first introduction to sales as a young girl was watching my dad sell his Christmas trees...He didn’t work for his personal gain, but rather to give to others.”)

Her supersized positivity can also at least partially be attributed to her upbringing. But it’s a personal choice too, in her opinion.

“How is it possible that someone could have such a wonderful life, no hardship, no broken heart or tears? Well, of course this is not the case,” she writes in Carpe Diem. “We can choose happiness, and we can choose positivity. “....I realized how deeply this philosophy is ingrained in me when we were told that my father was not going to regain consciousness...My first feeling was devastation. Then I was overwhelmed with gratitude for having had him as a father.”

McCormack explains to REM that positivity comes naturally to her by now. “I worked on it. I take self improvement and motivational courses, do an

annual vision board. I’ve trained myself to be this way.”

Along with remaining positive, her tips for success include: • Never focus on your paycheque. Focus on making your clients happy and the paycheques will come.

• Stay in touch with past clients.

• Don’t be distracted by what others are doing. Stay focused on your own goals.

• Don’t be afraid of rejection or of asking for business.

• Set limits. Put your personal things first.

In regard to the latter tip, she tries to take Sundays off as a family day. And she factors vacation time into her schedule and involves the family in her business activities wherever possible.

For personal growth, McCormack believes it’s important to figure out your “why,” meaning what it is that drives you and helps you impact others in a positive way.

She’s discovered that for her, it’s love.

Seeing as even her business motto about jumping for clients contains the word not once, but twice, that insight should come as no surprise.

REM

Coldwell Banker Canada congratulates REM Magazine on 30 years of real estate industry reporting

On behalf of all the Coldwell Banker Brokers, Managers and sales representatives across Canada, we extend our congratulations on your 30th anniversary. Your dedicated efforts to educate, inform and inspire have helped elevate the professionalism of our industry.

Andy Puthon, President COLDWELL BANKER CANADA

Join the blue.

Coldwellbanker.ca/careers Š2019 Coldwell Banker LLC. All Rights Reserved. Each Office is Independently Owned and Operated. Coldwell Banker, the Coldwell Banker logo, Coldwell Banker Global Luxury and the Coldwell Banker Global Luxury logo are registered service marks owned by Coldwell Banker LLC. Each sales representative and broker is responsible for complying with any consumer disclosure laws or regulations.

28 REM JULY 2019

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have a friend. She is a good Realtor, she cares about her clients, she has been at it for many years and if you ask anyone who has ever dealt with her, they would only sing her praises.

There is a problem though. She has spent years building a network at the lowest rung of the real estate market in her area. She has to sell a lot of houses to make a decent living. Based on volume, her sales propel her into the ranks of the top five per cent of salespeople but based solely on commissions earned, she never tops $100,000 per year.

I sat with her and I pushed her to broaden her marketing to the next level of pricing in her area.

She resisted. “But these people I serve, they love me, I love them.”

And I told her, she is confusing real estate sales with social work.

She spends a lot of time helping her clients, who are low-income Canadians. She even drives old dears to doctors or dentist appointments and I applaud her for that but she has forgotten about serving her own needs first.

One day she called me as if a light went on. She got a listing of a better real estate product, an actual detached single-family and it sold. She made over double what

Raise your income by selling less she was used to making and she was excited.

I told her to push hard. Go back to basics, knock doors, let everyone know that you listed and sold that property. Push and push hard.

It is now about two years later and she is selling less in volume and more per commission. She still sells the lower price point she used to service, but solely on referral and those small sales add to her volume and obviously add to her income.

For the first time in her career she earned just shy of $150,000.

She cannot believe it as that achievement was beyond her grasp. She just had to get past her own fears and her own insecurities.

What she had failed to do, despite her years in the business and with decent training, was take pen to paper to scribble out how to achieve her desired annual income. She never had a business plan.

I realize that my column goes across Canada and each community has its own price points.

Some of you do not have the opportunity to move up in the market because that market may not exist but there are opportunities in most markets for move-up if one seeks them out. Review this chart to see why volume should not be the main goal of a top Realtor.

Assumptions: • you are on a high split with

$250,000 in Commission Per Year - The Work Needed Sale Price

Commission @2.5%

Less Costs @15%

Deals Needed

$100,000

$2,500

$2,125

118

$200,000

$5,000

$4,250

59

$300,000

$7,500

$6,375

39

$400,000

$10,000

$8,500

29

$500,000

$12,500

$10,625

24

$600,000

$15,000

$12,750

20

$700,000

$17,500

$14,875

17

$800,000

$20,000

$17,000

15

$900,000

$22,500

$19,125

13

$1,000,000

$25,000

$21,250

12

$1,500,000

$37,500

$31,875

8

$2,000,000

$50,000

$42,500

6

your brokerage • you still have some brokerages costs, a per deal fee and annual fees. I allowed a 15-per-cent expense. This will vary as no one plan is universal • Bonus! You do volume and you will double-end some of your deals.

Raise your price point, find the right neighbourhoods to work in and you will reduce the volume needed, your income will rise and you can have a better balance of work and life. If you are in a market that has a very low price point and if you are serious about your career, either move (not easy) or start to study the highest price point in a market. For someone in a village you may want to starting looking at selling farms or smaller commercial.

Find a strong Realtor who can guide and mentor you. Shadow them if you can or at least meet to discuss your direction. Create a business plan, know your costs, what an hour of your time is worth and how to achieve it. Do you know what a typical listing costs you and how many hours you spend from the first contact until the deal closes?

I also suggest reading Selling Luxury Homes by Jack Cotton (www.jackcotton.com). Yes, the book is written for an upscale market but his techniques are exceptionally good and are to be applied to all listing and selling scenarios.

If you heed my advice, drop me a line in a year from now and tell me how things turned out for you.

I love success stories.

Barry Lebow, FRI, Master-ASA, ABR, SRES, is one of Canada’s most recognized real estate authorities. Now in his 51st year of professional real estate, Barry has been honoured by many real estate associations for his work in the profession. He is the founder of the Accredited Senior Agent designation program. A teacher, trainer, educator, he is a consistent award winning broker at Re/Max Ultimate Realty in Toronto.

REM Email barry@lebow.ca

30 REM JULY 2019

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Welcome, RE/MAX RISE! It is our pleasure to announce that Broker/Owners Mat Clancy, Adam Candon, Patrick Hulley, formerly of RealtySource, the number one non-franchise real estate company, have just opened the doors to RE/MAX RISE in Kingston, Ontario.

The RE/MAX brand recognition, support network, and our second to none technology offerings open up a world of opportunity for their new brokerage. “There is and has always been one real estate brand we would align with, and that is RE/MAX�, Patrick shared with us,“As a company, this is the family we want to be a part of.�

With a combined 40 years of experience in real estate, the RE/MAX RISE Brokers are bringing their

company vision from RealtySource to their new ew brokerage at RE/MAX: For and About Agents. ts. The success of their agents relies on a few facto ctors: training, up to date technology, and wor ork-life balance. Moving their business to RE/M /MAX is a testament to the team’s dedication on to their success-focused philosophy.

RE/MAX RISE’s primary transact ction areas will be Kingston, Ontario, strategicall ally located where Lake Ontario meets the St. Lawre rence River and Rideau Canal. This new brokerage ge is ready to rise up with the strength of RE/MAXX behind them.

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hat’s the deal with all those people who are moving and find that their donations of clothing, furniture and household items are being rejected.

It’s Marie Kondo’s fault.

No lie. The Japanese author/organizing consultant’s famous advice to jettison belongings that don’t “spark joy� has spurred an international decluttering frenzy that is reportedly overloading thrift stores and secondhand retailers.

Her Netflix series Tidying Up with Marie Kondo and best-selling books have created a movement.

Her last name is now being used as a verb. As in, “I’m going to Kondo that linen closet.�

Kondo says she has been obsessing about storage systems since the age of five.

The KonMari method, her organizational strategy, focuses on first discarding items (by category rather than by room), starting with clothes, then books and papers, and afterwards organizing spaces thoroughly.

Like most cultural phenomena, the time was ripe for her contribution to society when Kondo arrived neatly on the scene, storage boxes in hand, items within stacked vertically rather than horizontally (a practise she observes with polite fanaticism). Decades of feverish consumerism have resulted in most of us owning far more than we need. A trend back to greater simplicity is the natural next stop on the wheel.

There are countless ways to get rid of unwanted belongings, including estate and garage/yard sales, online classified sites or marketplaces, consignment stores, antique dealers, auctions, pawn shops, movie prop companies or donating to charity shops or shelters.

But although the pickings are anything but slim nowadays, grateful beneficiaries are decidedly thinner on the ground.

Your friends and relatives, particularly your kids, will be first in line. But heads up. They may not be interested.

Millennials tend to have zero interest in “brown furniture,� the

glossy, dark wood pieces that an older generation grew up with, says Laurie Hunt, owner of Toronto Residential Downsizing Services, which provides professional guidance to families, real estate professionals and executors involved in managing the inventory, evaluation and dispersal of a home or estate.

Hunt personally is fond of older dark furniture and is sad to see its fall from grace. “We are stuck in a rut with modern furniture,� she says. “The wonderful old things are built so much better.�

Although there are glimmerings of a possible resurgence in inherited dark furniture, particularly with one item being used as a focal point in an otherwise modern space, “Lots of post war pieces still don’t have any value – big dining tables, hutches, sideboards,� says Hunt.

The same goes for vintage china and silverware. “Anything with chips is garbage,� she says.

And with the latter, sterling may retain some cache, but silver plate has almost none.

That said, Hunt stresses the importance of getting quality pieces evaluated. Besides true antiques and sterling silver, where you’ll want to do this generally is with artwork, sculptures, and jewelry. One of her roles as a consultant is to identify items of value and sell them, with the profits going back into the estate.

Hunt is a big fan of re-purposing items and keeping them out of landfills. That old sideboard can be put to use as a dresser, for instance.

The tea cart can be painted and given a second life as a bar cart.

And she’s happy to see exquisite porcelain tea cups making a comeback as cocktail glasses and candle holders.

Due to the emotional nature of her work, it’s not unusual for her to witness relatives squabbling over who will take possession of those teacups. “Most people think that their stuff has value, but they can confuse emotional value with monetary value,� she says.

Those fancy Royal Doulton fig-

urines? Difficult to sell. Your books?

Forget about it. A recent Globe and Mail article titled Who wants old books? No one it seems, these days says it all. The writer describes the painful divestiture of his cherished library of over 3,000 books. In the end he donated a fair number but was able to sell only one. (Do keep an eye out for special and first editions though.)

Stamp collections? Not usually collectible anymore. War memorabilia? If possible donate to a war museum or historical society.

Letters and photos? Edit ruthlessly and put those you keep into albums. Old paper/documents/paid bills? Chuck them. You’re not likely to need them ever again. All those editions of National Geographic? You’re a hoarder.

Recycle them. “We save and collect through life, then one day the reckoning comes and we need to let things go,� says Hunt.

Although she is much less militant than Kondo, like her, she believes that it’s important to surround ourselves with things that give us pleasure and get rid of those that don’t.

Hunt often sees this realization dawning with clients when she stages their homes, effecting a startling transformation simply by decluttering and rearranging their own possessions. (She generally doesn’t bring in outside staging materials. “I find that fake,� she says.)

Her dos and don’ts for staging are common sense – keep things simple and colours soft; have everything immaculately tidy, well-lit and sparkling clean; remove dingy carpets and personal photographs; pour cleanser into sinks for a fresh smell; have someone with a design background position furniture and art and make sure garden beds and grass are edged and well trimmed. “Many people purge their belongings and tackle much-needed home repairs and renovations just before listing. Frequently when they see the end result, their response is, “I wish I’d done it earlier so I could enjoy it,� says Hunt. “Possessions are weighty. When we let go there is relief.� REM

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32 REM JULY 2019

Housing as a human right A new film looks at the housing crisis in cities around the world and asks, “Who are our cities for?”

By Diane Slawych

C

anadian cities such as Vancouver and Toronto are not alone in experiencing a crisis in affordable housing. Many big cities around the world are facing a similar problem.

It’s an issue that is explored in a new documentary called PUSH, by award-winning Swedish director Fredrik Gertten.

The film, which had its North American premiere at the Hot Docs Canadian International Documentary Film Festival in Toronto this spring, follows Ottawa-based lawyer Leilani Farha, the current UN special rapporteur on the right to housing, as she travels to various cities where rents have increased three times (or more) than the rate of income.

In Harlem, New York, one man spends 90 per cent of his income on an apartment and his rent will increase to $3,600 a month when a private equity fund takes over the building. We also meet survivors of the Grenfell Tower fire in London and visit Toronto’s Parkdale neighbourhood, which has been the scene of rent strikes.

Of particular note is a new phenomenon identified in the film that began after the global financial crisis around 2008, when private equity firms and asset management firms started to buy new buildings or existing housing stock, and then evict tenants or increase rents.

Saskia Sassen, professor of sociology at Columbia University describes these new landlords as

the “monster that nobody can see, that nobody really understands, whose language is incomprehensible.”

Nobel Laureate Joseph Stiglitz, meanwhile, ponders how private equity firms have managed to become the biggest landlords in the world. “You can make more money not by making a better product and lowering the cost of production, which is the standard economic analysis, but by… looking for people you can take advantage of. They’re not creating wealth; they’re actually just taking wealth.”

The film asks who cities are for.

“It’s increasingly for those with wealth,” said director Gertten, during a Q&A after one of the screenings. “We’re losing the diversity of cities.”

REM recently caught up with the main subject of the documentary, Leilana Farha whose mandate as special rapporteur continues until 2020, by which time she will have visited roughly a dozen countries.

REM: What is adequate housing exactly?

Farha: Under international law it’s defined and there are some key principles, one of which is affordability, defined by household income; security of tenure – you shouldn’t fear being evicted and you shouldn’t be evicted unnecessarily. Dignity is the key here.

REM: What is your role and mandate?

Farha: I started in 2014, as spe-

Paralegal for the Real Estate Industry

AVI ROSEN

FRI. SCMF. AMB

Real Estate Broker (Nearly 50 Years) • Paralegal Direct: (416) 818-6130 • www.rosen.ca Legal Focus on the Real Estate Industry

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That is who I am

cial ranconteur on the right to adequate housing and I was appointed by the UN Human Rights Council, that’s the highest human rights body in the UN system, made up of government. I’m an independent expert…not paid by the UN nor do I work for any government and that enables us to do the kind of human rights assessment we do. I’m considered like a global watchdog on the right to housing so I go to countries and assess whether governments are meeting their international human rights obligations (regarding housing) and write thematic reports about what the right to adequate housing means.

REM: What insights have you gleaned so far from your travels?

Farha: There’s little doubt these days, and it doesn’t take me to say this, there’s a housing crisis on a global level. There isn’t a place I go to where affordability isn’t an issue, and there isn’t a place where adequacy and where homelessness isn’t an issue. If you look around the world, you see the same graph represented in PUSH where you see rising housing or rental costs and static or stagnant wages.

It’s that gap I’m concerned about.

In any city I go to I see homelessness and overwhelmed shelters… tent encampments, so there’s definitely a crisis.

REM: What is the cause of this problem?

Farha: I’ve identified a particular issue, but it’s not the only issue.

We’ve identified financialization of housing as a major contributor.

There are other contributors that have allowed financialization to happen, for example the deregulation of our economy and our financial sector, allowing financial (actors) to do what they’re doing, but also things like governments deciding to get out of the business of housing and not providing social protections for people any longer.

So, on the one hand enabling investment in housing through de regulation, propping up that investment through legislation, policies and tax laws and then at the same time withdrawing from social housing, withdrawing from

protections for tenants.

And that creates the perfect storm for what we’re seeing now, which is this global housing crisis.

REM: Can you elaborate more on this new phenomenon identified in the film, whereby asset management firms and private equity firms (like Blackstone) are

they’re fairly traceable. There are others, large multi-billion dollar, multi-national asset management firms. I’ve come across one in Canada called Timbercreek, there are others in Sweden, Germany.

What’s interesting is that they all adopt the same model, and that is a business model,

Leilani Farha

The poster for the documentary.

buying up real estate and the effect that’s had on tenants? You say in Toronto, Blackstone, in conjunction with Starlight, an asset management firm, bought eight apartment buildings within the last few months.

Farha: Blackstone is the largest residential real estate private equity firm in the world.

There are a lot of actors out there.

It’s not just Blackstone, though

which is to find undervalued properties, buy, then wrest out of it more profits, and the way to do that is by increasing rents. That’s done (through) a variety of mechanisms, sometimes there’s renovations involved as a means of providing a legal basis to raise the rent, sometimes it doesn’t even involve renovation, it’s just Continued on page 34

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deliver by regionalizing our MLS services with 22 other real estate boards and more than 13,000 Realtors.”

Established by CREA in 1989, the AEN Award of Excellence recognizes outstanding dedication and exemplary service.

Marie-France Vachon named Keller Williams cultural ambassador Keller Williams recently appointed KW Urbain Montreal broker Marie-France Vachon as a KW cultural ambassador. She is only the second Canadian associate in 2019 to earn this lifetime appointment and the first Quebec broker to be granted the title.

KW Urbain opened in downtown Montreal in 2013 and was the first Keller Williams brokerage in the province. Vachon has been with the brokerage since it launched.

The company bestows the title of cultural ambassador on associates who are nominated by their peers and who “embodies, lives and models the culture of Keller Williams at an extraordinary level,” the company says.

Vachon has been in the real estate industry for 32 years. She has been a member of KW Urbain’s Associate Leadership Council (ALC) since its inception. The ALC is made up of the top 20 per cent in sales and its members are

Housing as a . . .

Continued from page 32

a simple purchase and up goes the rent.

The reason it’s a business model, it has to be profitable at a certain level for these investors.

Because the way it works often is they’re flowing back the income from the rent to the investors to satisfy investors or shareholders.

So, there’s a requirement of a good return on investment.

There’s also the requirement of steady, uninterrupted income flow from rents…in order to leverage more capital off of that property. As I understand it, the income generated from the property as well as the value of the property itself helps to secure loans. So that you can leverage more money off of the property. And more money means

actively involved in leadership decisions that drive the productivity, profitability and cultural activities of the company, it says.

Vachon is also being recognized for her many volunteer activities, including developing and offering tailor-made real estate training to associates in KW offices across Quebec.

Bill Duce wins AEN Award of Excellence Bill Duce, CEO of the Kitchener-Waterloo Association of Realtors (KWAR), was awarded the CREA 2019 Association Executives Network (AEN) Award of Excellence at the association’s Annual General Meeting in Ottawa.

Brian Santos, president of KWAR, says, “Several years ago, KWAR’s board of directors set about a very deliberate twopronged strategy. The first was to become a high-performing corporate board, which Bill has certainly supported. And secondly, to be leaders in technology – a vision Bill has worked tirelessly to help us more purchases and acquisitions so that’s the cycle.

REM: And you see this in several cities?

Farha: Yes. It’s happening in Copenhagen, in Germany, Sweden, Spain, Ireland, Canada, throughout the U.S. I just heard that Blackstone has said that India is the new frontier for Blackstone. I don’t know what that’s going to look like. My problem is no one is tracking it, some academics are tracking it, but not monthly. It’s springing up everywhere, it’s in Buenos Aires, in parts of Brazil, Chile, it’s pretty rampant, Hong Kong, Singapore.

REM: Did you meet with Mayor John Tory when you were in Toronto?

Farha: I did not, but I met with deputy mayor Ana Bailao and a few city councillors. The

Tracey Appleton receives KitchenerWaterloo board Volunteer Award Tracey Appleton received the Kitchener-Waterloo Association of Realtors (KWAR) Volunteer Award at the association’s annual Spring Gala recently. The award is presented annually to a Realtor who has shown commitment and dedication to the association and within the community.

“Tracey is known for her integrity,” says KWAR president Brian Santos. “As a volunteer, we see this shining through in her serving on many committees of our association, and in her volunteering in the greater community where she is making such a positive difference in the lives of others.”

Appleton is a sales representative with Coldwell Banker Peter Benninger Realty and has been a Realtor member of KWAR since 2006. Her contributions to the community include serving as a director on the board of Habitat for Humanity Waterloo Region (HFHWR) since 2013 and Women’s Crisis Services of Waterloo Region since 2006. planning and housing committee of city council passed a motion to adopt a human rights based approach in the development of the city’s 10-year housing plan.

That’s an interesting move and as I understand it would have to be approved by council before it becomes official. The signal there is we have to start addressing the stuff happening in the city like the financialization from a different vantage point. Once you look at housing as a human right you put people at the centre. You put their needs at the centre and it demands and dictates a regulation of these private actors.

REM: You’re working on something called The Shift. Can you tell me more?

Farha: The Shift came about because I recognized that in my role as rapporteur, though I have

Appleton is currently the chair of both organizations. In 2016 she was part of a group that helped to bring a family of Syrian refugees to Kitchener-Waterloo.

Newport Realty wins Christie’s International Real Estate award Christie’s International Real Estate recently honoured Newport Realty of Victoria, naming the brokerage Affiliate of the Year in the Small Market category. The ceremony took place at the culmination of the Annual Global Conference in Paris.

Jack Petrie, owner/managing broker, and Michael Ziegler, managing broker, accepted the award for Newport Realty. A Tiffany’s crystal obelisk trophy was presented at a black-tie dinner at the Palace of Versailles in the Gallery of Great Battles, a venue not open

to the general public. There were 280 affiliate owners from around the world in attendance. The company was unaware of the win until that evening’s announcement by Zackary Wright, executive director of Christie’s International Real Estate.

Criteria used in determining the award included overall business innovation, market leadership, passion to succeed in the local and global marketplace under the Christie’s International Real Estate brand and collaboration with network colleagues and Christie’s art auction house specialists.

“It is such an honour for us to be recognized on the world stage.

Thank you to our loyal clients who’ve helped make this distinction possible,” says John Hayes, president of Newport Realty.

REM

At the Paris award ceremony, from left: Zachary Wright, executive director, Western Region, Asia Pacific Based, Christies International Real Estate; Jack Petrie, owner/managing broker, Newport Realty; Michael Ziegler, managing broker, Newport Realty; and Dan Cohn, CEO, Christies International Real Estate.

Bill Duce

Marie-France Vachon

a lot of privileges and a lot of doors open, it would be a phenomenal task to make the kind of change that’s necessary all on my own. These are very big forces with a lot of power, they influence government and I thought maybe we need to form a global movement with different stakeholders, all of whom see housing as a human right, view the housing crisis as something that needs to be addressed urgently. So, I partnered with united cities and local governments…as well as the office of the high commissioner for human rights…and we just set out to show there’s a lot of activity and traction for housing as a human right.

It’s surprised me what’s happened actually because cities have come on board in numbers and have really taken the lead here. A

Tracey Appleton

huge number of cities have committed to implementing the right to housing at the local level. It doesn’t mean they’re all human rights stars right now but rather that they view what’s going on as hugely problematic and they want to address it using human rights values and principles. The cities include Barcelona, Mexico City, Amsterdam, Seoul, Geneva, London, New York, Paris.

REM: Any Canadian cities?

Farha: Toronto has not yet, I only just made contact with them.

It takes a bit of time. Montreal has joined The Shift. Vancouver has not, that’s partially because of a change in mayoral leadership because I was in conversation with Mayor Robertson but he decided not to run. The new mayor is progressive so I hope to reach out to REM him.

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36 REM JULY 2019

Good Works T

he recent Royal LePage Team Realty Denim Tuesday breakfast and auction raised $66,440 – the most successful year to date. Since 2001, this popular springtime event has now raised more than $666,000 for local charities.

Royal LePage Team Realty broker/owner Kent Browne says, “So many lives are affected by cancer each year in Ottawa, our city and surrounding areas have been terribly affected by recent flooding, and our local shelters for women and children fleeing violence continue to operate at capacity. I’m very proud that our Denim Day will make a difference for all these important local causes.”

■ ■ ■

David Smeriglio, a sales rep with Sutton Group – West Realty in Toronto, recently organized a social, grassroots fundraiser to raise funds for Emily’s House/Philip Aziz Centre and Hospice Toronto.

Smeriglio is grateful for the exceptional staff and volunteers at Emily’s House and their warm welcome for his daughter Tallula, who visits occasionally. For the past few years, he has rallied hikers to join him on “Team Tallula” in an annual Hike for Hospice. This spring, he and his friend Lou Tarsitano held the fundraiser in advance of the hike.

Smeriglio says when Tallula visits Emily’s House, she receives wonderful care. His daughter is blind with acute hearing loss and she particularly enjoys the music therapy program. Emily’s House is a unique facility featuring a “Snoezelen” room with interactive surfaces activated by a child’s touch, a shared kitchen, a guest room for parents and a games area for siblings.

■ ■ ■

Recently agents from Century 21 Millennium and local Brampton, Ont. companies came

together for the Brampton Celebrity Hockey Classic in support of Easter Seals. The event raised $80,000, which will send more than 30 kids to Easter Seals camps. The brokerage raised $15,000 by itself. More that 150 people attended the event.

Eight companies were in the fundraiser, which featured some former NHL stars including Wendel Clark and Shayne Corson.

Century 21 Millennium manager Trevor Evans says the brokerage was thrilled to surpass its goal of sending six kids to camp.

Royal LePage Wildrose Real Estate broker/owner Merrell Dickie (left) and Clare Dickie (centre), present the cheque to Joe Carignan, president of the Mountain View Emergency Shelter Society. (Photo: Noel West/Mountain View Publishing)

■ ■ ■

Held each year on the Saturday of Mother’s Day weekend, the Annual Garage Sale for Shelter raises funds for the Royal LePage Shelter Foundation. This year the event raised more than $100,000 and it has raised more than $3 million over the years in support of local shelters for women and children seeking safety from domestic violence.

“The most dangerous time for an abused woman is when she attempts to leave the relationship,” says Shanan Spencer-Brown, executive director of the foundation.

“On any given day in Canada, more than 6,000 women and children sleep in shelters because it isn’t safe for them at home.”

The Century 21 Millennium team featuring Shayne Corson.

Continued on page 37

The National Garage Sale for Shelter event at Royal LePage Access Real Estate in Salmon Arm, B.C. Rebecca Permack prepares to announce Easter egg hunting can begin at the annual Easter Egg Hunt in Coquitlam, B.C.

Team Tallula takes part in the annual Hike for Hospice.

Celebrating Royal LePage Team Realty Denim Day, from left: Mary Browne, broker/owner Kent Browne and administrator Julie Sangster.

Nolan Tobashniuk

Gary Busch

Crystal De Jager sponsored a putting contest at the Rotary Club golf tournament.

Kiley Bollenberghe, left, and Connie Sheppard

REM JULY 2019 37

Offer negotiation: Seller options

By Ross Wilson “So, when you are listening to somebody, completely, attentively, then you are listening not only to the words, but also to the feeling of what is being conveyed, to the whole of it, not part of it.” – Jiddu Krishnamurti n this fifth column of the offer presentation series, let’s continue with negotiation strategy and seller options.

You’ve fully summarized and explained all the significant terms of the offer during your private consultation with your seller client. And your client has said the offer is unacceptable. Now, while the buyer’s agent relaxes in the other room, it’s time to strategize.

For simplification, explain the three options: counter-offer, acceptance or rejection. It would be great if all offers were accepted without contest, but alas, that’s not how it usually goes in the real world. The order of the letters in

I

Good Works Continued from page 36 ■ ■ ■

Royal LePage Wildrose Real Estate’s First Annual Suitcase Party in Olds, Alta. hit the mark with $23,511 raised for the Royal LePage Shelter Foundation.

More than 100 guests were encouraged to bring a packed suitcase and be ready to leave from the event on a mystery weekend-long getaway. Suitcases were placed on the stage and slowly eliminated by draw until one winner remained.

Two lucky guests were then whisked away to the Pomeroy Kananaskis Mountain Lodge, where they enjoyed two nights’ accommodation. A surprise consolation prize was also awarded to the owner of the second-place suitcase.

The auctioneer for the evening was Royal LePage sales rep Dwight Boychuk.

All event proceeds were direct-

the acronym “CAR” is typically the order in reality. Since opening bids are usually negotiable, unless the offer is ridiculous and totally unacceptable, your seller should not immediately reject them. The buyer may just be greedy, misinformed or simply testing your client’s mettle (or their agent was an order-taker or trying to be a hero) and will typically agree to pay more. Thus, countering is normally the best response to a reasonable, but unacceptable offer.

To obtain the highest price for your seller, try a two-price strategy.

During your private consultation, determine your seller’s bottom line.

This amount becomes their fallback secondary price, below which they’re prepared to lose the buyer.

Then agree on a higher primary amount to present to the buyer agent when you all return to the table. If the closing date is acceptable to your seller, have a secondary tolerable date to interlace into the counter-offer proposal.

Remember that you’re negotiating; it’s give and take and perception is four-fifths of reality.

When the buyer agent rejoins the presentation, tell them straight away, not that their client’s offer is ed by the Royal LePage Shelter Foundation to the Mountain View Emergency Shelter Society’s building fund.

■ ■ ■

Recently salespeople from Century 21 Dome Realty in Regina and Century 21 Fusion in Saskatoon helped Camp Easter Seal get ready for the 2019 season.

The camp is on the shores of Manitou Beach. Eighteen agents from C21 Dome and eight from C21 Fusion helped to clean the grounds and assist with setup.

“Easter Seals is our one and only charity of choice. Helping to get the camp ready for the season made us very excited for our summer fundraisers that we have coming up.

We look forward to visiting the camp every year and it always inspires us to work hard to support Easter Seals,” says Gary Busch, coowner of C21 Fusion.

“We visit Camp Easter Seal

rejected, but that your client will not accept the offer. Terminology is important here. A flat refusal, which is how your news will likely be perceived anyway, may shock the buyer’s agent into acquiescence. Rather than accept a rejection, they’ll normally ask (beg) for a counter-offer. Make them ask for it because it will bring the power into your court; they become the supplicant.

Maybe after another brief (staged) private chat with your seller (or even exchanging a predetermined code sign like a subtle mutual nod or a particular word) with a suitable preamble such as “upon further consideration”, announce that your seller wants to be fair. They’ll grant the agent’s request for a sign-back at the higher primary amount (obviously without mentioning the secondary lower amount) and with your seller’s preferred primary closing date. Tell the buyer agent that your seller will agree to all other terms. Then, get the buyer agent’s reaction – both verbal and non-verbal. Watch their body language.

At some point, you might ask the buyer agent about their client’s priorities. Since the most imporevery year and it gives us fresh context as to why we help Easter Seals.

It is very powerful to see firsthand how impactful and life-changing this camp is to so many children in Saskatchewan,” says Nolan Tobashniuk, COO of C21 Dome Realty.

■ ■ ■

Deanna Toope of Royal LePage Atlantic Homestead in St. John’s, NL raised more than $4,000 at a karaoke night in support of her participation in the upcoming Sahara Desert Challenge for Shelter, which will support the Royal LePage Shelter Foundation.

Guests sang and danced for hours, enjoyed cupcakes and snacks and gave generously at the silent auction.

“So many wonderful friends and community members made this night the success that it was,” says Toope. “I’m proud of what we accomplished together in support of

tant terms are typically price, closing date and conditions, ask which single term is most important to their client. If the buyer’s priority is price and their agent seriously balks at your proposed primary counter price, ask the agent for a price proposal, since they may have a glimmer of what their buyer will pay for the property. If they suggest an amount equal to or greater than your seller’s already secretly established secondary figure, with a nod from your client, inform the buyer rep that the seller will agree to the agent’s suggested counter price if the buyer will agree to the seller’s primary closing date.

Once the terms are verbally agreed, make the written changes and proceed to affix initials and signatures.

If the agent refuses or is unable to offer a suggestion, then your seller could give a little on their primary price proposal, but maybe not as low as their secondary price. Or in exchange for your seller countering at their secondary price, maybe the buyer would consent to dropping a condition or two and agree to your seller’s primary closing date.

If the buyer must have a particular possession date, advise your local women and children who are seeking safety at Iris Kirby House.”

■ ■ ■

The 9th Annual Burke Mountain Easter Egg Hunt, hosted

by Rebecca Permack of Royal LePage West Real Estate Services in Coquitlam, B.C. did not disappoint. It raised $9,071 for the Royal LePage Shelter Foundation.

There were 40,000 chocolate eggs collected by 800 happy hunters. Photos with the Easter Bunny, a live band, a food truck and visits from local firefighters and police officers rounded out the morning’s family-friendly activities. Proceeds will benefit local women’s shelter Tri-City Transitions via the Royal LePage Shelter Foundation.

■ ■ ■

Crystal De Jager, a sales rep with Sutton Showplace Realty in Chilliwack, B.C. and a member of the Rotary Club of Chilliwack

seller to agree (if possible) to the buyer’s demand for that specific date. In exchange, ask that the buyer be fair and agree to the seller’s primary price, provided that all else is fair and reasonable.

I often obtained the higher primary price for my seller just by “agreeing” to the buyer agent’s request for their client’s preferred closing date. You’ll have to think fast.

Remember – it’s a dance between two variable positions – the ideal primary and the acceptable secondary. And that dance is sometimes a quick-step.

In my next column, I continue to describe the highly successful strategy I used regularly during my four decade career.

Ross Wilson is a retired real estate broker with extensive experience as a brokerage owner, manager, trainer and mentor over a highly successful 44-year career. His book, The Happy Agent – Finding Harmony with a Thriving Realty Career and an Enriched Personal Life is available where print and e-books are sold, including the TREB, MREB, RAHB and OMDREB stores. For more details, visit Realty-Voice.com.

REM

Fraser, recently sponsored a putting contest at the Rotary Club’s golf tournament. It helped the tournament raise approximately $16,000 to help fund a zero barriers/inclusive playground.

De Jager has been a member of the Rotary Club for 3 1/2 years.

■ ■ ■

Connie Sheppard and Kiley Bollenberghe, sales reps with Royal LePage Estate Realty in Toronto, recently welcomed 110 guests to a “FUN Raiser” for the Royal LePage Shelter Foundation. The event was held in donated space offered by the Royal Canadian Legion #13. Partygoers danced through the night and raised funds through draws, dart games, a toonie-toss and a silent auction.

Funds raised at the event will be directed to Sheppard and Bollenberghe’s participation in the Sahara Desert Challenge for REM Shelter.

38 REM JULY 2019

30th

Anniversary

THE PUBLISHERâ&#x20AC;&#x2122;S PAGE

By William Molls

J

MARKETPLACE

ust by the mere act of reading this sentence, dear reader, youâ&#x20AC;&#x2122;re already ahead of the game.

For 30 years, REM has provided the real estate industry in Canada with quality, independent journalism. We have covered major changes and upheavals from an independent point of view to keep you well informed about your profession and industry.

By reading the contents of this magazine, youâ&#x20AC;&#x2122;re one step closer to having an edge over your competition by being in the know on the latest trends and innovations.

Being able to freely provide this service for three decades is something we take great pride in.

However, the world is very different today than it was in 1989.

Thirty years ago, you would not have had the internet or social media to go to for the latest gossip.

You also wouldnâ&#x20AC;&#x2122;t have had a smart

device in your pocket or purse demanding your attention every five minutes with some alert or message.

As the times have changed, so have we â&#x20AC;&#x201C; but always in service of keeping our promise to you of providing quality, independent news coverage of the real estate industry in Canada. We launched REMonline.com roughly 20 years ago, as well as an email newsletter, social media pages and so on as the years have gone by.

Throughout it all, we have held on to our independence.

REM is not owned by or affiliated with any real estate brokerage, association or board. We are, and always have been, a proudly Canadian and independent small business.

But even as we evolve and adapt, journalists everywhere face extraordinary challenges in 2019.

Realtors, more than anyone, will understand this challenge. In 2019, everyone expects more for less.

Too often home buyers and sellers think that the cheapest option is also the best one. Sure, they can try to go it alone and sell their house without the help of a qualified real estate professional, but should they? How much does that supposed savings end up costing them in the long run?

Thatâ&#x20AC;&#x2122;s because thereâ&#x20AC;&#x2122;s great value in the service you provide.

Introducing REM premium subscriptions No technological shift or advancement will change the value of quality service from someone you can trust.

Journalism is no different. No new kind of media technology will ever replace the value of quality, independent journalism, because, again, the cheapest option is not also the best one.

Sure, you can get your news by reading headlines from your social media feeds, often from dubious, sketchy websites â&#x20AC;&#x201C; some of which might even be fake news or scams.

Itâ&#x20AC;&#x2122;s a wild world out there.

But if you really want to stay informed, you need a source you can trust. For the last 30 years, Canadaâ&#x20AC;&#x2122;s real estate industry has turned to REM for exactly that.

So, to celebrate our anniversary, weâ&#x20AC;&#x2122;re proud to announce a new, premium subscription service for those who value staying ahead of the curve and being well informed. We look forward to telling you more about the benefits of becoming an official REM subscriber in the coming months, but

Perception of brokers improves in Quebec

T

he level of trust in real estate brokers and the perceived value of their services have increased significantly in Quebec, says a recent survey conducted by LĂŠger and released by the Quebec Professional Association of Real Estate Brokers (QPAREB). This is an increase of more than 20 percentage points compared to similar statistics collected in 2013.

The survey says 82 per cent of residents who intend to buy or sell a house in the coming year plan to use a real estate broker.

The QPAREB says Quebecers are now more fearful of buying or selling a property without assistance. The survey shows Quebecersâ&#x20AC;&#x2122; confidence in buying

or selling their home without the help of a broker decreased by nearly seven per cent in 2019.

In Montreal, 98 per cent of residents who used the services of a real estate broker in 2019 say they were successful in selling their home. â&#x20AC;&#x153;This success demonstrates the relevance of doing business with a professional when buying or selling a home, as it can create a lot of stress for a lot of people,â&#x20AC;? says Nathalie BĂŠgin, president of the associationâ&#x20AC;&#x2122;s board of directors.

The survey says 78 per cent of Quebecers agree that doing business with a real estate broker reduces stress and provides peace of mind. â&#x20AC;&#x153;Quebecers also believe that a

NATIONAL REAL ESTATE IN NFORMATION LIISTING SE ERVICE E . COM WWW. REILS.COM / 416-214-4875

to learn more right now, visit www.remonline.com/subscribe.

In the meantime, thank you, dear reader, for being along with us on this journey â&#x20AC;&#x201C; whether youâ&#x20AC;&#x2122;ve been with us since the beginning or have just recently discovered our magazine. Weâ&#x20AC;&#x2122;re looking forward to the next 30 years of providing you with quality, independent news and analysis you can trust.

William Molls is the president and REM CEO of REM. real estate brokerâ&#x20AC;&#x2122;s expertise provides many advantages when selling or buying a home,â&#x20AC;? says Sylvain Gauthier, vice president, communications and public affairs at LĂŠger.

The survey shows that Quebecersâ&#x20AC;&#x2122; satisfaction with the work of real estate brokers during the sale of a property has improved in several respects since 2013, says the QPAREB, as demonstrated respondentsâ&#x20AC;&#x2122; agreement with the following statements: â&#x20AC;˘ The broker knew the laws and regulations relating to the sale of the property â&#x20AC;&#x201C; 87 per cent in 2019 versus 83 per cent in 2013; â&#x20AC;˘ The broker obtained the best possible price â&#x20AC;&#x201C; 75 per cent in 2019 versus 71 per cent in 2013; â&#x20AC;˘ The broker properly and objectively assessed the property (using comparable sold properties, for example) â&#x20AC;&#x201C; 81 per cent in 2019 versus 76 per cent in 2013.

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30 Million $ reasons to say

thank you!

Thank you to the thousands of Royal LePage Shelter Foundation champions across Canada who have helped us raise $30 million since 1998. With your support, we help more than 50,000 women and children escape domestic violence each year.

Your commitment and generosity is making home a safer place for all.

This is not intended as a solicitation of any sales representatives or brokers that are currently under contract. Any copying, reproduction, distribution or other use of these materials is prohibited. Š2019 Bridgemarq Real Estate Services Manager Limited. All rights reserved.

Learn more at rlp.ca/shelter

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