March 2017

Page 1

Issue #333

March 2017

Via Capitale pulls ad, apologizes to trans community Page 3

OREA loses real estate licensing education

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Make it rain: How to get more listings Page 28

A Succession Solution Nick Lalli’s brokerage allows top

sales reps to become owners Page 10


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REM MARCH 2017 3

Via Capitale pulls ad, apologizes to trans community By Danny Kucharsky

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uebec brokerage Via Capitale pulled a TV ad recently after it enraged members of the transgender community in the province. The ad used a humorous tone to raise a parent’s sex change as one of the reasons that could lead a family to decide to sell its house. It was one of six unconventional spots featuring a guitar-playing broker, a character created 13 years ago when the brokerage was known as La Capitale. The ads highlighted various modern but out-of-the-ordinary situations that could lead people to sell their property, such as infidelity (your wife cheated with the next door neighbour), a 46-year-old child finally being forced to move out, people waiting for inheritance money that never came (grandma left her estate to the gardener), unforeseen pregnancy and debts owing to sketchy people. (“You tried to settle your debts ... but it didn’t work and they know where you live”). But it was the ad in which the guitar-playing broker intones “papa est devenu une maman” (pop

became a mom) as a reason for selling that caught the ire of Michelle Blanc. Blanc, an ecommerce consultant and well-known personality in the trans community, saw the ad while watching Les Pays d’en haut, a popular Radio-Canada TV series. Blanc turned to Twitter and Facebook to call the “so-called” humorous ad “a masterpiece of bad taste.” It showed “a disgusting lack of tact” and capitalized on the drama faced by trans people in their lives, she said. Blanc said the ad made two major mistakes – using the “indefensible stereotype” to imply that a sex change automatically results in family breakup and the tendency to blame everything on the person who changes sex. Many in the transgender community shared Blanc’s indignation. A Twitter backlash began and the hashtag #Boycotte ViaCapitale was launched. But the controversy was resolved after Via Capitale president and CEO David Martin called Blanc to apologize about the ad. He announced it was being

pulled and that the company was making a $3,000 donation to the Association des transsexuel(le)s du Québec, which helps trans people in the province. Martin noted on the broker’s Facebook site that a parent’s change of gender is a realistic situation that was discussed “with the respect that it deserves, without judgement and with the tone that characterizes our advertising communications.” He added, “We thought that in 2017, it was healthy to discuss such subjects openly. That said, some people expressed discomfort or displeasure. We would like to reiterate publicly our sensitivity and respect for them, their reality and their opinion. In this regard, we have chosen to withdraw this message.” Blanc expressed satisfaction with the company’s reaction. However, Sophie Durocher, a columnist for the Montreal daily Le Journal de Montréal, called the situation greatly overblown, asking: “Is it homophobia every time we comment on a homosexual?” After TV series like Transparent

The ad used a humorous tone to raise a parent’s sex change as one of the reasons that could lead a family to decide to sell its house.

and Orange is the New Black, “it was normal that the next step would be to integrate the transgender reality into the world of advertising.” When you become mainstream instead of being marginalized you will sometimes be the object of a joke, she said. Montreal advertising agency Alfred, which created the campaign, also weighed in on the controversy on its website. The agency said it chose to include gender transition in the campaign and treat it like any

other major life change. “We never wanted to be degrading or offensive, quite the contrary. We believe that including this theme in our messages would contribute to its acceptance.” The agency apologized to all who felt hurt by the execution and saluted the courage of those who undergo gender transition. We “hope that at least the discussions generated will contribute to advancing perceptions,” Alfred REM said.

OREA loses real estate licensing education By Tony Palermo

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he Ontario Real Estate Association (OREA) has lost a bid to continue providing Ontario real estate licensing education after 2020, sources tell REM. The news comes, according to industry insiders, after the Real Estate Council of Ontario (RECO) selected another respondent to the Request for Proposal process it launched in March 2016 for the Educational Services Agreement (ESA). RECO oversees real estate licensing education in Ontario on behalf of the provincial government and OREA’s Real Estate College currently delivers licensing education under the existing ESA that expires in 2020. RECO senior communications officer Adam Hawkins would not confirm or deny the allegations,

telling REM that he can’t say much about the RFP process other than to confirm that the process “is still ongoing.” RECO posted a notice on its website that says, in part, that on Dec. 30, 2016, “RFP Proponents were advised of an extension to the RFP timeline and RECO anticipates that the RFP process will conclude no later than March 31, 2017.” The notice also says that all of the parties involved in the RFP process have entered into a legally binding confidentiality agreement that prohibits the release of any information related to the RFP process. OREA officials declined REM’s request for comment. OREA has been providing licensing education through the college for over 40 years. If the allegations are true, it would be a major hit

to the association. Its 2016 annual report shows that approximately 76 per cent of its 2015 revenue – about $29 million – came from the college. Sources say that OREA has already let a number of its staff go, though no one could say exactly how many people were affected. In his “CEO’s Message” in the 2016 annual report, former OREA CEO Ed Barisa wrote, “Education continues to be a key part of our work,” adding that, for the second time, the OREA Real Estate College won a prestigious international education award last year. In providing background to the RFP, the council began by saying, “RECO has a new vision for registration education.” It continues: “RECO’s vision would reshape registration education so that aspiring registrants are better

able to ‘hit the ground running’ when they enter the real estate profession.” If RECO has indeed selected another provider and is moving in a different direction, it will be the second major shakeup of real estate education by the regulator. In 2013, RECO took over the mandatory continuing education program – a move that was criticized by some in the industry. “RECO’s decision to give themselves the exclusive right to deliver continuing education destroyed all competition (and) it rendered all other education providers redundant,” says Callum James, president of CE Network, one of the companies directly affected by the change. “Sadly, CE Network, a Torontobased employer, was forced to lay off most of our employees.”

Callum says the few employees that were kept were only saved because Oliver Publishing, a Canadian financial services educator, acquired the company. He says CE Network is now in the unusual position of being the only internationally certified real estate education provider delivering stateapproved real estate training in the U.S., but is forbidden to deliver accredited education in its own home province. For both initial licensing and continuing education, Callum says he promotes the adoption of a model with multiple, competing education providers – a model that, he says, is the mainstay of North American real estate regulators. “In this model, regulators regulate and educators educate,” Callum REM says.


4 REM MARCH 2017

Protecting the data: What if TREB loses? Just what would VOWs do with the disputed data that TREB argues would compromise privacy if made public? By Neil Sharma

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he issue of permitting virtual office websites (VOWs) to publicly display sold data – a property’s purchase history – is still before the courts, a years-long litigation between the Toronto Real Estate Board, CREA and the federal competition bureau. But with finality possibly in sight, just what would VOWs do with the disputed data that TREB argues would compromise privacy if made public? Canada’s largest real estate board believes publicly displaying sold data impinges upon customers’ right to privacy, although its sales agents are authorized to share it member-to-member and with clients in person, by fax or email. Yet, some VOW operators contend it is in consumers’ best interest to have as much information as they can to make informed purchasing decisions. Realosophy is a Toronto-based VOW that aggregates copious quantities of information about properties and neighbourhoods to help customers choose their next homes. Not surprisingly, Realosophy’s president and founder, John Pasalis, believes sharing sold data with clients can make their purchasing decisions even more discerning. The brokerage’s desire to display the sold data, “(Is) rooted in this idea that the more information consumers have at their fingertips, the better decisions they can make,” says Pasalis. “Philosophically, our view is quite different than TREB’s. TREB wants agents to be gatekeepers of data and our experience is when we give clients access to sold data they make more intelligent decisions on their own. They end up

being more informed consumers and that’s consistent with what other industries are doing today – giving more people information at their fingertips.” Realosophy would incorporate sold data into its aggregation packages for clients and Pasalis dismisses TREB’s claim that privacy will be jeopardized, calling it a smokescreen. He says empowering consumers so they’re not at the mercy of Realtors will force the latter to prove they are worth their salt. “Publicly, TREB’s concern is privacy but if you look at the industry, the concern is the more information you give consumers, the tougher it is to be an agent,” he says. “It’s easier to build a career as an agent if you are a gatekeeper for data. All of a sudden you get rid of that and it becomes a lot harder to demonstrate your value to the consumer.” Pasalis cited litigation south of the border in which the Department of Justice’s Antitrust Division sued the National Association of Realtors for anticompetitive practices that targeted Internet-based companies that, among other things, offered lower commissions. Similarly, Realosophy offers commissions up to a full per cent lower than the common 2.5 per cent charged industry-wide. “TREB’s not taking that position because it is not a legal argument, but that’s the other underlying industry concern, which is consistent with what we saw in the U.S. when the National Association of Realtors was sued by the Department of Justice. In those records, there’s fear of new interests coming in and putting

Pasalis says the desire to display the disputed data is rooted in the idea that the more information consumers have at their fingertips, the better decisions they can make. downward pressure on commissions. I don’t think TREB are champions of privacy by any stretch. “But this goes hand-in-hand with what I said earlier: If you’re not doing anything of value then of course there will be downward pressure on your commissions. If we, as an industry, change what we do and reinvent how we work and demonstrate more value, those agents won’t have any issues.” In his experience, clients find ways around the sold data prohibition and while it would be made available online should the Competition Bureau ultimately win its litigation, companies like Realosophy would nevertheless incorporate it into larger data packages. “Part of it is putting it online and the other component is, internally, we analyze it,” says Pasalis. “The real estate market is complicated. For example, we’ll make indepth Beaches and Rexdale comparisons. Progressive companies will use data to tell better stories about neighbourhoods, homes and condos.” Another issue, says Pasalis, is that properties are often re-listed, which isn’t immediately obvious. “It isn’t just sold data, it’s other things like expired or terminated listings,” he says. “At the home

level you can understand if this home is sitting on the market for 100 days and agents keep relisting it so it looks like it’s been on the market for two weeks; you can find out if it was flipped, what they bought it for nine months ago and what the appreciation they’re asking for now is.” Nova Scotia-based Viewpoint Realty, a brokerage that operates a VOW, is extremely popular and offers clients sold data. ViewPoint.ca was visited 7.1 million times in 2016 and has 260,000 registered users, of which 120,000 were active in 2016. Viewpoint cannot operate in the Greater Toronto Area because of the sold data prohibition, but its founder and CEO, Bill McMullin, a practicing Realtor, says consumers have made their voices heard in Eastern Canada. “ViewPoint is not in the business of deciding what information each real estate consumer is entitled to – that’s the old way of doing business,” says McMullin. “If you offer consumers a choice of direct or mediated access to real estate information, they’ll choose direct every time. GTA real estate consumers are no different than Nova Scotia real estate consumers; if we were able to offer GTA real estate consumers the same experience that Nova Scotia real estate con-

sumers get, I’m certain we would have a very successful brokerage in the GTA.” McMullin adds, “Our sales history feature is the primary factor in our success.” Like Realosophy, TheRedPin offers clients comprehensive data packages. It studies the cost impacts of everything from living on corner lots or being in close proximity to a WalMart, to being near arterial transit nodes or planned LRTs – even which storeys or condominium views sell better and faster. Perhaps unsurprisingly, then, TheRedPin is bracing for the liberation of sold data. “Having a new set of data will allow me to take on more traffic, which means I can now go out and publicize or let consumers and the public know this data in its new form – the way we’re going to spin it, real data taken and formulated in a way that will make sense to people rather than the graphs and pie charts of the past – is available, and it will allow us to have a new consumer base,” says Tarik Gidamy, co-founder and director of TheRedPin. “New customers are extremely important to any business. It will allow my agents to go out and do better work. I can formulate better assessments of property values so they can go to meetings with prices that are not based on opinion, but on actual numbers. It will also make homeowners more realistic of what their homes are worth.” TheRedPin has more than 100 sales agents under its banner and has brokered over $1.5 billion in real estate transactions to date. But it is more than a mere brokerage; Gidamy describes it as a technology company at heart that enables customers to optimize the results of their imminent real estate transactions. Such an approach to real estate could conceivably inform the wisdom (or lack thereof) of purchasing investment properties, whether residential or commercial – which Gidamy says is just one of the ways in which the industry is evolving. Continued on page 6


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6 REM MARCH 2017

Could your brokerage survive a FINTRAC audit? W

e have already witnessed the federal government targeting the real estate industry when it comes to money laundering and Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) compliance. Large fines have been levied against brokerage firms that have not been in compliance at the time of the audit. Here are some questions to ask to see if you are ready in case the FINTRAC auditors come calling. 1. Does your firm have an upto-date FINTRAC policy and a FINTRAC compliance officer? Has everyone in your firm taken the required training online? It is not enough to just have a FINTRAC policy. Every member

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FINTRAC can actually increase business if approached in a positive manner. 3. Does your firm properly identify clients? This may be the most important information reviewed by FINTRAC auditors. Are you making sure that your clients have a connection to Canada? The more connected they are, the less likely they will be involved in illegal activities. The more you know about a client’s employment and occupation, the easier it is to build a relationship with them. And you are complying with FINTRAC at the same time. 4. What are you doing to monitor clients in a business relationship? If a client conducts a second transaction with your brokerage within five years, they are said to be in a business relationship with your firm and this may require ongoing monitoring.

Protecting the data

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Continued from page 4

˜ ˜ Sara Hill ˜ ˜

Sara Hill

Cover photo: RACHAEL LITTLE

Sara Hill of Re/Max Twin City Realty in Kitchener died suddenly on Jan. 27 in hospital. She was 65. She was a Realtor for 23 years in the KW region and was with Re/Max Twin City Realty for 15 years. “Sara was a devoted and passionate Realtor and a strong advocate and volunteer of The Kitchener-Waterloo Association of Realtors (KWAR),” says the association in a statement. “From 2006 to 2013 she served as a director of KWAR and 2012 she was president. Sara was very proud of her involvement in organized real estate and made many Realtor friends from across the country during her involvement on the board.” The association says, “Sara joined KWAR as a member in 1994 and was a committee member since 1997, serving on and presiding over many committees, including Professional Standards, MLS Services, Finance and Bylaw to name a few. She also served on the Ontario Real Estate Association’s Marketing and Advertising committee in 2013.” REM

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Does your firm have a policy in place to identify whether any new client has in fact done a deal with your brokerage in the last five years, and if so, how is this client to be monitored? What additional questions should the client be asked about their new purchase or sale and whether they are in the ordinary course of the client’s business? 5. Every broker of record is required to do a comprehensive risk assessment of their brokerage every two years. Unfortunately, most just check off some boxes on a form, stating that they have checked their records and their risk has not increased. Unfortunately, in almost all audits that I have seen, this is considered to be a serious concern of the auditors. They expect you to have reviewed a substantial number of random

He believes technology has created better understanding of the real estate market in ways agents, who are prone to human error, cannot. Comparing TheRedPin to Uber’s silent, yet empowering, hand, he is loathed to use the word “disruption,” but says the time has never been better for a shakeup of the industry. “Because of technology, we understand the business and intelligence of real estate,” he says. “You can’t predict the future without looking at the past in real estate because the

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Phone: 416.425.3504 www.remonline.com REM is published 12 times a year. It is an independently owned and operated company and is not affiliated with any real estate association, board or company. REM is distributed across Canada by leading real estate boards and by direct delivery in selected areas. For subscription information, email distribution@remonline.com. Entire contents copyright 2017 REM. All rights reserved. Reproduction in whole or in part without written permission from the publisher is prohibited. The opinions expressed in REM are not necessarily those of the publisher. REALTOR® and REALTORS® are trademarks controlled in Canada by The Canadian Real Estate Association (CREA) and identify licensed real estate practitioners who are members of CREA. MLS® and Multiple Listing Service® are trademarks owned by CREA and identify the services rendered by members of CREA. REM complies fully with the CREA’s Trademark Policy (section 5.3.2.6.1). ISSN 1201-1223

files to confirm that all documents have been properly prepared, signed and filed and that you have also considered other factors, including whether your firm deals with properties that are close to the U.S. border, whether your agents are part-time or fulltime and the general crime rate in your own area. Does your brokerage insist, for example, that no commission will be paid unless and until all documents, including FINTRAC, are properly completed and filed? This should be standard practice. If your firm has any questions about FINTRAC compliance, please contact me directly. Mark Weisleder is a partner, author and speaker at the law firm Real Estate Lawyers.ca LLP. Contact him at mark@realestatelawyers.ca or (416) 702-2499. REM industry itself is cyclical. Trends and historical values are relative to what happened before and new things emerging today like what a house is worth if situated next to a Starbucks, big box store or the Eglinton LRT matter.” Whatever the final outcome of the litigation, the sole surety is that the traditional foundation of the real estate industry has been jolted beyond repair – and whether or not sold data availability is, indeed, the Toronto market’s next transfiguration, technology has rendered the real estate industry of yesteryear unrecognizable from today’s or tomorrow’s. REM

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of the brokerage, including sales reps, brokers and all employees should have read your company FINTRAC policy and taken the five modules on money laundering available through CREA. This should also be documented and records must be kept of this. 2. Does your brokerage provide FINTRAC update education every two years for all members of the firm, to confirm that any new guidelines are understood and followed? For example, new FINTRAC guidelines for identifying individuals will take place after June 30, 2017. Is your firm aware of the changes? I have been providing FINTRAC update education courses for brokerages and real estate boards for the last several years. I have tried to demonstrate in my seminars that complying with


This is home. It’s a place called confidence. It’s home because your clients feel positive and sure about the choice they’ve made. In partnering with you, they place their trust in your advice, counsel, and expertise to lead them there. Our commitment is to always be there for you, and them, on this journey home.

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8 REM MARCH 2017

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

oldwell Banker Muskoka, based in Port Carling, Ont., recently opened for business. The company is owned by real estate professionals Angie and Tom O’Hara and Muskoka business figures Gordon Waites and Tracy Tennant. The O’Haras currently lead the Realty Fort McMurray Team, which joined Coldwell Banker Fort McMurray in 2015. They are dual licensed in Alberta and Ontario. The couple plans to “con-

tinue to work with their market leading sales team in Fort McMurray and apply their extensive brokerage experience to this new enterprise in the hub of Ontario’s cottage country,” says Coldwell Banker president Andy Puthon in a statement. Waites and Tennant are permanent Muskoka residents, active in both residential and commercial real estate in Port Carling. The O’Haras have been residents on Lake Joseph since 2010.

The new brokerage will be located in a historic building in the heart of Port Carling. ■ ■ ■

StreetCity has expanded to Kingston, Ont. and Hamilton. Liza Tallen and her team have joined the new StreetCity Realty brokerage in Kingston. Tallen, who headed up one of the top teams in the region, will be now be an area manager with StreetCity, the company says. President Costa Poulopoulos says, “We are thrilled to have Liza help us launch and manage our Kingston location. Liza truly understands and embraces our unique, collaborative culture and she is a true authentic leader.”

In Hamilton, Sean Morrison is the new area manager. “After many successful years in sales, I am looking forward to an exciting management career,” says Morrison. “I feel that the industry is in need of a refreshing new brand and I am looking forward to helping Costa and Mary (Johnson, vice president) grow StreetCity. ■ ■ ■

Owners Harry Saggu and Kevin Boyal recently opened Century 21 Paramount Realty in Brampton, Ont. Saggu and Boyal began working together as agents at a Century 21 office 12 years ago. They recently spent two years working for a Re/Max office. The new location offers fibre optic 4K technology and specialized educational training. It hosts 15 private offices and professional boardrooms, with 3,500 square feet of space. ■ ■ ■

Toronto have merged. Frank and Laura Cormaggi are partnering with Alba DiPlacido and Adele Longo. “Frank and Laura’s 27 years of expertise, combined with Alba and Adele’s 37 years, have allowed them to work through many major swings in the real estate market successfully,” says Vivian Risi, president/CEO of Royal LePage Your Community Realty. “They are especially proud of the relationships and networks they have forged locally and internationally.” All four partners have received numerous awards, including the Royal LePage National Chairman’s Club Award that honours the company’s top one per cent of salespeople in Canada. ■ ■ ■

NAI Commercial Okanagan recently opened a new office in Kelowna, B.C. “This market is ready for a professional solution. Our desire was to bring in a brand that allows us to

Two partnerships at Royal LePage Your Community Realty in

Continued on page 33

Angie and Tom O’Hara

Liza Tallen

The Royal LePage party attracted 220 people.

Harry Saggu and Kevin Boyal recently opened Century 21 Paramount Realty in Brampton, Ont.

Frank Cormaggi, Adele Longo, Alba DiPlacido and Laura Cormaggi.

Sean Morrison

Arnoud Colombijn

From NAI Commercial Okanagan, from left: principals Mike Geddes, Tony Parmar, Philip Hare and Tim Down.



10 REM MARCH 2017

A succession solution: Shared ownership

Ever since Century 21 Heritage House was formed in 1980, its solution to succession planning challenges has been to allow top sales reps to become partners. By Susan Doran

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here’s a saying, “There is no exit strategy for the typical real estate broker.” Well okay... that might not be an actual saying. But it’s clear that with the average age of real estate professionals in Canada hovering around the mid 50s, there’s concern around succession issues and retirement in this era of greying boomers. As the industry grapples with this, we are beginning to see some big changes. Many owners lie awake at night feeling tethered to their brokerage and wondering who will be able to buy their company at a fair price when they retire. Who would step in if they get sick? What would happen if they got divorced? Will business fall off as they start to wind down their careers? Sales reps are vulnerable in these situations and have their own nagging questions revolving around security and stability. Will I have a place to work tomorrow if the owner retires, dies, divorces or gets sick? Are the owners financially stable? Do they have staying power? Can they handle a downturn in the market? Will I have to leave and start from scratch somewhere else in order to move up and become a partner/ owner myself? “Many owners in this industry don’t have an exit strategy, because no one person can afford to buy their business for what it’s worth,” says Nick Lalli, who for over 20 years has been an owner/partner of Century 21 Heritage House, headquartered in Woodstock, Ont. “There are not that many buyers. If you want top dollar, it can take years.”

Roy Singh, left, and Nick Lalli

Ever since Heritage House was formed in 1980, its solution to succession planning challenges has been to allow top sales reps to become partners. Lalli says this creates a secure career path for suitable agents and is also an attractive exit strategy and investment opportunity for owners. “When people leave there is always a line-up for their shares, which is not the case when selling a brokerage,” says Lalli. “It’s much cleaner for succession planning.” In his opinion, it’s also safer and “less scary” for young sales reps than going out and starting up their own business. At Heritage House, agents interested in becoming shareholders are encouraged to let management know. “They don’t need $2 million in their pocket,” Lalli says. “We’re excited to grow our business by attracting experienced agents who see the opportunity and stability here that they won’t get at some brokerages.” There are typically between 10 and 13 owners benefiting

from Heritage House’s nontraditional real estate business model and its substantial local market share, he says. That’s expected to increase significantly soon. Heritage House has “a very aggressive” regional expansion plan now underway, Lalli says. The newest partner is Roy Singh. The merger in December with his company (formerly Century 21 Home Realty) has opened up the KitchenerWaterloo area for Century 21 Heritage House and boosted the total number of Heritage House agents to around 160. Singh’s is the fifth company Century 21 Home Heritage has absorbed. “It’s very expensive to run a brokerage and a broker’s responsibility is enormous,” Singh says. “I was taking money from my own production to keep the brokerage afloat.” He was looking to grow his organization in a way wherein “one person – me! – is not 100 per cent responsible for running the operation,” he says. At 54-years-old (exactly

Nick Lalli says his company’s business model is “much cleaner for succession planning.” (Photo by Rachael Little)

the industry average) he was not ready for retirement. But he “wanted the firm to have stability, longevity and a future exit strategy.” He also wanted to ensure that there were opportunities for his agents. A conversation with Heritage House at a Chairman’s Circle meeting for Century 21’s top offices got the merger ball rolling. “It made sense, says Singh. He says that, initial “growing pains” aside, he and his sales reps benefit from Heritage House’s pooled resources, diversification and financial stability; the sharing of learned best practices, sales tools and systems; and the time the company’s management structure frees up to allow partner companies to concentrate on clients and strategy rather that getting buried in red tape and administrative issues. “There is professional paid staff, who are not salespeople, doing most of the Heritage House admin functions,” Singh says. For agents deemed the right fit, the “big plus” is the chance

to become a shareholder – an opportunity not available at most other brokerages. “What I love is that we have a partner retiring and his shares will be sold to three junior partners – all good, producing agents with talent,” says Singh. He says it’s “a fantastic way” to have a stake in a company, “instead of starting up your own and struggling for 10 years to become profitable, with sales suffering as a result of all the time it takes to attend to the business side” of things. He says it’s important to have “young, new blood coming in and adding to the fabric of the organization.” Signs indicate that nontraditional business models such as this are attracting attention. Lalli says Heritage House is increasingly getting calls from companies interested in the shared ownership concept. His conclusion: “We likely will start seeing other companies adopt the concept of shared risk and benefits. I think it will become more and more important.” REM



12 REM MARCH 2017

Real estate advertising is bad By Ian Grace

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ard words, but there is no nice way to say it – real estate advertising is bad, and it’s time for a change. Worldwide, the real estate industry breaks most of the advertising rules, as practised by advertising professionals, when advertising sellers’ properties. How can an entire industry’s advertising be bad? There are a number of reasons: • There has always been a place to look for real estate advertising, either in hard copy or online, whereas with other products that is not the case. • Once the industry realized the audience coming to the real estate section/portal was preselect-

ed – they already had the product in mind – the industry became complacent and believed all they needed to do was put the property in front of them and they would buy it. • Sadly, then we end up with ads that are merely a listing of features and that is not what people are buying. With any product or service, people are buying benefits. As an example, when we are selling shampoo, we don’t just show a shampoo bottle and describe its contents. We specifically target the market we are after (those who will see the most value in the product) and then we show them what they can do as a result of their purchase. That is always what people are buying and real estate is no different. • Properly targeted real estate ads should always be selling “living there” because that is what people are buying. The number of people who buy homes totally different to what they originally told the sales rep they were looking for, or buy in

a totally different community, proves that point conclusively. • Most often, ads don’t match across the different media used. Research shows that people only react on the third or fourth time they’ve seen the same ad with the same image and message. It is vital that the main photo, headline and theme are matched across all the different media. Most times the ads are disjointed and not matching, not treated as a proper campaign, as the professional advertising people do, maximizing the cumulative effect. How to identify bad ads: “Ads” without headlines or those where the headline is the address of the property are not even ads – they are merely notices. It’s like the births, marriages and deaths listings in a classified advertising section. They are certainly not identifying the target market, which is what proper professional advertising headlines do. Other bad ads have photos that don’t match the headline. It is vital

we get this right, as research shows only one in five people read past the headline (and photo). Ads that are perfectly laid out, with great brand presentation and beautiful photography will look pretty, but if there is no headline, it’s a bad ad and all you’re left with is pretty bad advertising. With photos, I often hear that “less is more”, but that’s not so. Research clearly shows that the more photographs, carefully chosen to match first the headline and then the body copy in sequence, the more successful the ad campaigns will be. But don’t just focus on multiple photos of the property. Use photos that show what living in that home, and in that area, will be like. Write the ad before you take the photos of the home. It’s like a movie – they write the script first and then the photography is done to match the script. Only then can the photo match the headline and copy. Become the advertising expert

in your area and the results can be nothing short of amazing. I have a video on my website of a U.S. Realtor who won every listing for more than four years by becoming known as the advertising expert in the area. His listing presentation was, “I believe I can advertise your property better than anyone else, to get more of the right kind of buyers to your property. Let me show you my advertising system, which I believe will achieve for you the best possible net result and then I will let you be the judge.” How simple and powerful and totally consultative. Australian Ian Grace is renowned as the world’s leading authority on real estate advertising and customer service. His customer service ideas book is No. 1 worldwide and his Top 10 Tips for Advertising have been published around the world. For further details about this article, email amazing@iangrace.com.au or visit www.iangrace.com REM

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©2017 Engel & Völkers. All rights reserved. This advertisement is not an offering of a franchise, and where required by law, an offering can only be made 14 days after delivery of the applicable franchise disclosure document.




16 REM MARCH 2017

8 reasons to use video in real estate marketing By Adam Dumond

T

hree years ago I came across a guy doing videos to help sell huge mansions in California. I did not realize at that time how important that encounter was. I thought his videos were cool and they were. It didn’t cross my mind that I could replicate what he did in my little market in Southwest Ontario. Fast forward to the present day and I would have taken a loan out in order to have that chance encounter. Here are eight reasons why I use video in my real estate marketing. 1. This one is easy. The client wants it. The client is always right and guess what? They are right again. Just consider for a moment

these statistics: • 100 million users watch videos online every day. • 80 per cent of Internet users recall watching a video ad on a website they have visited in the past 30 days. • 46 per cent took some action after viewing the ad. • 58 per cent of buyers want and expect to see video of a home they’re looking at online. • 74 per cent of all Internet traffic in 2017 will be video. (Sources: Forrester Research, comScore, Online Publishers Association, NAR, Nielsen, PEW Research, Cisco, KissMetrics, Multi Channel Merchant, eMarketer) 2. Videos elevate your professionalism. Don’t get me wrong, they can make you can seem pretty unprofessional too. Properly used, video can market a home and provide valuable statistics and tips. It keeps your name and face in front of your database. How many

times have you been out-andabout and a past client ducks away or avoids you? 3. The video listing presentation separates you from the competition and leads to increased referrals. My listing presentation has dramatically changed. Here in essence is what I say: “Go check out my Business Facebook page and I’ll see you tomorrow at 2 pm.” When I show up the next day they understand what I am about. They see the glowing testimonials and the number of views each video has. I don’t have to sell them on me. I move towards the price conversation. The commission conversation is rarely seen anymore. 4. It shows the seller you’re working. The sellers now have “up-to-the-second” statistics they can refer to as their home is listed. I again refer them to my Facebook Business page. They see the number of views, the likes, comments

(good and bad) and the shares. I can talk for hours about how critical and important this is. To have my sellers actively participate in the “likes, shares and comments” was an unexpected surprise. The sellers share with their friends (nice marketing for you). They like the video and your business page. 5. It builds your brand. I am getting known as “the Realtor that does the videos”. I have been at open houses speaking to a buyer while another buyer said, “I know I knew you from somewhere. You’re the video agent.” I have been stopped in stores and recognized in two Tim Hortons drive-thrus as, “Hey, you’re the video Realtor, right?” On two separate occasions I have been approached by a stranger, asking why their mom’s house isn’t selling. 6. Easier price reductions. As a seller watching the action on their listing video, they might notice a comment about the price,

a comment about the clutter or that it has a small backyard. I explain to the seller before the video is live that the public can be ruthless. But this is a nice feature benefit to them. It is important to actually hear what the public (potential buyers) thinks of their home. 7. It shows your character. You may be a numbers person, so talk about the monthly stats to your clients. If you are organizing a social or a charity event in your neighbourhood, record and post it. You might be handy. Good, post a video showing small things sellers can do before they list. The ideas are endless. When you can put your personality together with a video, you reach people on a personal level, a deeper level. 8) The last reason to do real estate videos might be scary. No. 8 is: Someone else will do it. Adam Dumond is a sales representative at Royal LePage Key Realty in Sarnia, Ont. Check out his Facebook page, https://www.facebook.com/adamdumondrlp/ and his YouTube channel, https:// www.youtube.com/user/adamdumond1216 REM


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Real Estate Success So Easy it Feels Like Cheating! g Real success in any business means not only healthy earnings, but also time off to enjoy life. The fact is, however, that most Canadian real estate agents sacrifice their entire lifestyle in pursuit of success and, ironically, instead of gaining more freedom, they become slaves to their real estate business. If you don’t have a real business system, you don’t really have a business at all. What you have instead is a “job”, and for most real estate agents, it’s a really horrible job: one that consumes your time, keeps you away from friends and family, and doesn’t pay very well. The fact is that agents

leave our industry in droves, not because they’re not great at working with clients, but because they simply can’t make the business work. They don’t have enough leads, they don’t find enough time to properly follow up and thus convert their leads, they don’t know exactly why they win or lose a listing. Even though they work very hard, too much is left to chance. Trying to “do it all” without a clear understanding of what works and what doesn’t ultimately sows the seeds of failure for many agents. A profitable and “real” business MUST be based on a solid system. In real estate, that means a system to automati-

cally and inexpensively generate leads, a system to convert those leads, and a system to convert the buyers and sellers you meet with into paying clients. Every successful business in the world, from Macdonalds to Google, is based on proven and duplicatable “systems”, and the agents who achieve mega success in our industry (defined as both high earnings and high quality of life -- i.e. making boatloads of money without killing themselves to do it) have done so on the strength of solid, proven, efficient business systems. As revealed in the profile of Montreal, Quebec agent, Bertrand Dussault, below, and

of multiple other agents you can read about at www. AgentsMakingMillions.com, creating a highly profitable real estate business is certainly possible, regardless of whether you’re a brand new agent or have been in real estate for years, whether you’re a man or a woman, a solo agent or team, whether you live in the U.S. or Canada, and regardless of which franchise you’re with. Each of the agents profiled credits the same real estate system as being responsible for their success: The Ultimate Real Estate Success System pioneered by Canadian Real Estate Coach Craig Proctor. Craig Proctor’s Real

Read More About How Bertrand Achieved This Success at AgentsMakingMillions.com

by Bertrand Dussault I decided to write this because I have to talk to somebody about this situation. When I was a kid, it was the beginning of the videogame era. I can remember in that time there was a new game that became very popular. All the kids at my school were talking about this specific game. It was THE game. It was called Super Mario. This game turned out to be one of the best games ever. This is probably the mother of all games. So fun… but how difficult. Now you may wonder what this has to do with selling real estate, but please keep

reading. This game used to drive me crazy. There were 8 “worlds” that you had to go through to win the game and I wouldn’t stop playing until I finished it. If it wasn’t for my mother, I wouldn’t go to sleep. I have to say that it wasn’t easy for my poor mom. I was barely able to finish the second world, so every time she would ask me to come eat, or go sleep, she’d hear, “I can’t stop mommy -I’m almost there”. Obviously, I never was “almost there”, but I wanted to succeed so badly that I didn’t want to stop. I spent so many hours, or should I say weeks, before I got just a little bit better at the game. But one day, my very good friend Martin explained to me that there was a way to cheat. Seriously!?! He showed me how to do some tricks to get more points. I ran to my house, opened my game, and I did e-xac-tlyy what he had told me. Guess what? It worked, and I earned a lot of points. So many points that I beat all

my previous best scores. You know where I was the day aff ter? Yes, at Martin’s house so I could get more tricks to play with, and Martin showed me so many tricks and cool things to do. Each time I ran to my house, opened the game, and reproduced all those tricks, sometimes even forgetting to eat. I remember the day when Martin showed me how to get to the 8th world straight from the first -- without having to go through all the other ones. Can you believe it!?! Straight to the 8th World? That’s crazy!

game”. I thought I was “almost there”. But since I started the coaching, I’m so cheating this game. If I want more leads, I reproduce the “trick” and I get it. If I want more appointments, I just do the trick. If I want more Money, more OSA’s, more Time, I do the trick (i.e. I simply copy what they teach me to do!!!) I’m proud to say that, thanks to Craig Proctor, in 2016 I increased my business by 246% of what I did in 2015. And this, my friends, is just the beginning.

I have to admit … I was cheating, and I loved it !!! I have to admit … I was cheating, and I loved it !!! Lately, before I was introduced to the Craig Proctor Real Estate Success System, I was thinking that I knew how real estate worked and I thought that I was not so bad at it -that I knew, “How to play the

I want to thank the entire Craig Proctor coaching team for the tremendous positive changes they’ve brought to my life. There is one thing that comes to my head every day: I’m cheating and I really feel good about it!

MILLIONAIRE AGENT-MAKER DISCOVERY DAY: Responsible for the Biggest Success Stories in the Industry Full City Schedule at:

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Estate Success System has created more Millionaire Agents than any other real estate system in the world. Craig Proctor was a highly successful AGENT himself, right here in Canada, for more than 20 years. In fact, no agent in Canada has sold more homes than Proctor has, and by sharing the system he used to achieve his own success, he’s been able to help over 30,000 agents worldwide to transform their real estate jobs into highly lucrative real estate businesses that don’t come at the expense of high lifestyle costs. This is the same system Proctor used himself in his own highly successful real estate career right here in Canada. As you may know, he was twice named the #1 RE/MAX Agent in the world and was in the top 10 for RE/MAX International for 15 years. If you do not have a clear, detailed business system (key word, system) that you are using to move methodically to your goals…a plan you could show a banker or investor or new partner or key associate… a plan you have reasoned, complete confidence in, then why wouldn’t you examine Proctor’s Ultimate Real Estate Success System - free? For a limited time, you can have a “sneak peek” at what your real estate business could look like by attending Proctor’s upcoming Free Discovery Day visit: AgentsMakingMillions.com for details. Yes, Craig Proctor will openly share with you how he became Canada’s top agent. Learn from a real doer, not a talker. Unlike most real estate trainers that have never successfully sold real estate and have zero practical experience doing what they teach you, Craig Proctor is a doer, not a pretender, fake or fraud. Craig will share “real Canadian real estate strategies” with you that actually work. No theory, ideas or motivational hype. At this 3 hour meeting Craig Proctor will spill the beans and share with you exactly what to do and what it takes to be a SuperSuccessful Real Estate agent in Canada. For more information, visit: AgentsMakingMillions.com


18 REM MARCH 2017

An online marketing showdown Should you go with SEO, PPC, SMM or some other three-letter acronym?

By Robin Wilding

T

he world of online marketing and advertising can be more confusing than a Rubix Cube (apologies for the frustrating ’80s throwback). Between SEO, SMM, PPC and other TLAs (Three-Letter Acronyms), it is hard to know which one is right for you. To help demystify this online Rubik’s Cube, let’s break down Realtors’ online marketing and advertising options: SEO Effort: Long-term Results: Long-term Cost: High to begin ranking well – but lower overall Search Engine Optimization, or SEO, is the practice of optimizing your website for Google so that it shows up at (or near) the top of search results. An example would be ranking at the top of Google for “Calgary homes for sale”. It requires regularly publishing relevant and unique content, adding SEO elements to your website like alt tags and getting other websites to link to your content.

While SEO is a great longterm strategy if you’re successful, it takes time, effort and/or money invested to get there. So prepare yourself to be invested in this strategy for the long term (six months minimum, although be prepared for a year or more to see good results). It’s important to know yourself and your budget, because most agents give up on this strategy before they see results. See the previous REM tech article, The Truth About SEO at remonline.com for more details. PPC Effort: Easy(ish) Results: Quick Cost: Steady overall Google’s Pay Per Click Advertising platform is great for agents looking for immediate results. Within hours of starting your campaign your website will begin appearing in the “sponsored results” at the top of Google searches for real estate in your area. The upside of Google PPC is that results are immediate and you have an exact cost per click (great for budgeting). The downside with Google PPC is that you can’t target your audience via demographics as granularly as you can with Facebook ads. This means you’ll receive more generic traffic, as opposed to those attracted to your website for a certain offer or infor-

mation. Also, it can get more expensive (especially in larger markets with more competition) than other alternatives. Having said that, if you really nail your website conversion ratio and continue to lower your cost per click, you can be quite successful over the long term. Social media marketing Effort: Long-term Results: Vary Cost: Free Doing social media marketing via Facebook, Twitter and other networks, is one of the lowest cost options that real estate professionals have. This makes it especially appealing to younger and newer salespeople (who have lower marketing budgets, but tend to have pre-existing larger social network contacts). It also works for more experienced sales reps who have large social networks. Social media marketing can mean Twitter, Facebook, Instagram, Pinterest or a smattering of other social networks. Your goal is to build your following to as large as you can, engage your audience and get clients from your social media posts. It’s a great strategy and free (other than time), but it takes a lot of time invested to grow the strategy…and not every agent is good at it. Facebook advertising Effort: Minimal(ish)

Results: Quick Cost: Steady overall Facebook advertising (and other social networks advertising) is a great way to do a few things: get clicks to your website, get likes to your Facebook business page, boost your existing social media marketing posts, get people to claim your offer, get video views and increase your brand awareness. The costs can be equal to or lower than Google’s PPC (although this depends on your target market, geographic area and other factors) and you can create specific, attractive offers – like “click on the link to see homes for sale in X city for less than X dollars”. This can increase the number of leads you receive from the traffic you purchase. Another upside is that you can specifically target geographic areas (like Google PPC), but you can also drill down to specific target markets, like newlyweds, age, income and job. These demographic categories are a huge plus for targeted campaigns. The conclusion If you read all of the above but are still thinking, “Great, but which one is right for me?” here is the conclusion. SEO is the lowest cost overall – if you endure the hard work long enough to succeed. There’s no better marketing than being at the top of Google.

Google PPC and Facebook ads are great strategies for those looking for results right out the gate (and aren’t afraid to invest a little cash for it). You can also test out the waters with a small investment, unlike SEO. Then there’s social media marketing, which is a great strategy for those with preexisting social network contacts (however it can be limited as it only shows your content within your social circles). An important point for SEO, PPC and Facebook Ads is that you need a website that converts that traffic into leads. If you’re still unsure which option you should be throwing your hat into, feel free to contact me for advice on what might work well for you specifically. Robin Wilding is the creative mind behind www.real-estate-websites.ca, a boutique real estate online marketing company hyper-focused on lead generation. The company’s success is attributable to its modern, mobilefriendly websites, lead-generation packages and beatable-by-none customer service. She also runs the Facebook Group, “Canadian Realtor Tech & Marketing”, an ad-free group that has some great tips for sales reps and a forum to discuss things that have (and haven’t) worked for them. www.facebook.com/groups/5602486 34136535/ REM

Murray at AmeriSpec instantly put me at ease with his professionalism and his knowledge. He walked me through all aspects of the inspection and explained what each section meant in detail, ensuring that even with my limited knowledge I felt comfortable and informed. In addition to being excellent at his job, Murray was also kind and friendly from start to finish. I would (and will) wholeheartedly recommend Murray and AmeriSpec to my friends and family. ~ K.F. DON’T TAKE OUR WORD FOR IT! READ MORE THAN 7,000 REVIEWS FROM REALTORS® AND CLIENTS AT AMERISPEC.CA.


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An unparalleled Canadian real estate company, committed to providing you with the industry’s best services and support: n n n n n

Iconic Canadian brand Award-winning national leadership Strong team of brokers and managers, who mentor and coach you Best-in-class training royallepage.ca, our national website generating over 120,000 leads/year*

Invested in your success.

HELPING YOU ™ IS WHAT WE DO. royallepage.ca/joinus

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*Based on Google Analytics, December 2015 to December 2016. 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.”, “Royal LePage West Real Estate Services” and “Royal LePage Sussex”. Any copying, reproduction, distribution or other use of these materials is prohibited. ©2017 Brookfield Real Estate Services Manager Limited. All rights reserved.


An unparalleled Canadian real estate company, committed to providing you with the industry’s best services and support: n n n n n

Iconic Canadian brand Award-winning national leadership Strong team of brokers and managers, who mentor and coach you Best-in-class training royallepage.ca, our national website generating over 120,000 leads/year*

Invested in your success.

HELPING YOU ™ IS WHAT WE DO. royallepage.ca/joinus

#royallepage

*Based on Google Analytics, December 2015 to December 2016. 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.”, “Royal LePage West Real Estate Services” and “Royal LePage Sussex”. Any copying, reproduction, distribution or other use of these materials is prohibited. ©2017 Brookfield Real Estate Services Manager Limited. All rights reserved.


22 REM MARCH 2017

Ken Yeung is top Century 21 producer in the world Ken Yeung of Century 21 Leading Edge Realty in Toronto was named No. 1. Century 21 producer in the world by units sold in 2016. Century 21, with offices in 76 countries worldwide, recently released its 2016 Global21 rankings. Canada had five companies, 10 offices, seven teams and three individuals ranking in the top 21 in the world, marking a clear indication of how important and active the real estate market is in Canada in a global context, the company says. Surrey B.C.’s Century 21 Coastal Realty was announced as the No. 2 office globally, followed by Century 21 King’s Quay Real Estate in Markham, Ont. and Century 21 Percy Fulton of Toronto at three and four, respectively. The Goodale Miller team of Century 21 Miller Real Estate in Oakville, Ont. and the Stephen Tar Team of Century 21 Leading Edge Realty in Markham took two of the top five rankings in the team category, with the Melnychuk Real Estate Group of Century 21 A.L.L.

roudly Canadian

Stars Realty in Edmonton ranked as the 11th team in the world. The rankings take into account the production from more than 106,000 sales representatives and 6,950 franchised locations in 76 countries and territories worldwide.

Harry DeLeeuw receives MREA Advocacy Award During Manitoba’s Realtor Week last fall, Harry DeLeeuw received the Brian M. Collie Award for Individual Achievement in Provincial Advocacy. The award was presented by Lorne Weiss, chair of the Manitoba Political Action Committee along with Gloria Collie, widow of Brian M. Collie, who served as the Manitoba Real Estate Association’s CEO for more than 25 years until he died in April 2015. The honour is reserved for an individual who demonstrates ingenuity and initiative in advancing MREA’s advocacy programs and relationship-building with provincial political leaders. “I have had the opportunity to work with Harry over the past 15 years in the area of advocacy and political action on behalf of our members. His energy and commit-

ment set the standard. I can’t think of anyone who could be more deserving of this award,” says Weiss. DeLeeuw is founder and cochair of Manitoba Tipi Mitawa, a First Nations home ownership program that brings stability and independence to indigenous families. He also leads the Manitoba Realtor Network, comprised of more than 200 Realtor advocates, and chairs Manitoba’s Realtor Week. DeLeeuw has served as president of CREA, MREA and the Winnipeg Real Estate Board (now WinnipegRealtors) and is a director-at-large on MREA’s board of directors. The association says he “was a stalwart champion in the successful $2-million Realtor fundraising campaign to help build the Canadian Museum for Human Rights in Winnipeg” and is the founder of the Citizens Hall of Fame in Winnipeg’s Assiniboine Park. In 2014, REM featured DeLeeuw among the 25 top leaders from across Canada who has had the biggest influence on the real estate profession in the last 25 years.

Dianne Stickney receives KWAR volunteer award The Kitchener-Waterloo Association of Realtors (KWAR) presented its Volunteer Award to Dianne Stickney at the association’s Member Appreciation Night recently. The award is given to an individual who has demonstrated com-

mitment and dedication as an association volunteer and who has also made significant impact on their community through various volunteering efforts. “Dianne Stickney has always placed her community first, be it enhancing the quality of life throughout the greater Waterloo region or her colleagues and peers within the real estate community,” says KWAR EO Bill Duce. Stickney is a sales representative with Peak Realty and has been a member of KWAR since 1993. She was a founding member of the parent association at Empire Public School and served six years as a public school trustee on the Waterloo County Board of Education. Within a few years of joining KWAR, she started volunteering on a number of the board’s committees. She has also served on the Women’s Committee of the Kitchener Waterloo Chamber of Commerce. She was a director of the Sunnyside Home Foundation and for eight years she served on the Board of Directors for Habitat for Humanity Waterloo Region, where she led the organization as chair from 2011-2013. Stickney also co-chaired the 2009 Habitat

Ken Yeung

for Humanity Women Build. As campaign chair, she worked with long-time friend Elizabeth Witmer in her political career.

Goran Todorovic finalist for Windsor award The Windsor-Essex Regional Chamber of Commerce and presenting sponsor Windsor Star announced that broker Goran Todorvic of Re/Max Preferred Realty is a finalist for the 27th Annual Business Excellence Awards (BEA). An independent judging panel comprised of local businesspeople will complete judging of the finalists. “We believe that this is the first time in the 27-year history of these awards that a Realtor has been a finalist,” says Danielle Todorovic, administrative manager at the brokerage. “Goran and the local real estate community are extremely honoured that the real estate industry is finally receiving recognition and respect as a professional field. Past finalists in this category include doctors, lawyers and engineers.” The award winner will be announced at an event on April 19 at Caesars Windsor. REM

Dianne Stickney

Goran Todorovic


At Sutton, we know what it means to be Canadian. THE SUTTON SPIRIT PROGRAM RECOGNIZES SUTTON AGENTS THAT IMPROVE THE LIVES OF OTHERS. Sutton agents across Canada raise the spirit in their communities by donating their time, expertise and resources to charitable causes and community endeavours – activities that make Canada such a great place to live.


24 REM MARCH 2017

How to create better listings T

here are ways of listing properties, and then there are ways of listing properties that can derail your potential buyer’s interest. For example, when reading through the listing of a property, it is easy to become distracted by the little things such as spelling mistakes. As you create the text for your listing, make sure that you check it for spelling. You can purchase spell checking programs and most word processing software includes a spell check. Don’t get caught out by the differences between American and Canadian spelling. A free program called Grammarly can be added to your web browser or purchased for use offline. Grammarly is one of the very few programs where you can stipulate if you want the spelling to be in American or British English. Grammar checking is also a good idea. While the Hemmingway App is also free (available offline too), it offers a more complex look at your grammar. You can gauge your words

against reading scores. For everyday use such as listings, you will want a lower number simply because that means the text is easy to read. The program allows you to copy and paste or write into the web browser. It isn’t always necessary to correct each highlighted area in the grammar software, but it will give you a nice overview when you may be adding in words that give extra points in Scrabble but are less appealing for everyday use. Read your writing out loud to see if you can spot obvious mistakes. Then do not be afraid to ask a friend or colleague who will be honest with you to give your listing a critique. Misuse of words can be another problem area for listings. An example of a commonly misused word is complement instead of compliment. Complement is a word you would use when various aspects of a room go together well. A compliment is when you say something nice to or about someone. Phrases can also be overstated

By Yvonne Dick

What you most want to convey to those who are looking at your listings is the facts in a straightforward and pleasing manner. to your listing’s detriment. “Turn of the century” can apply to houses built in the late 1990s just as easily as those built in the early 1900s. Be specific. If your property is Georgian style, for instance, stating this will be far more descriptive for potential buyers who wish to know how old it is and how it may be designed. Geography is important too. Make sure that you are accurate if listing nearby attractions for potential buyers. While six blocks may sound like it is “just moments away”, this doesn’t convey accurate amounts of time. One salesperson’s “moments away” is another’s “two minutes by car”. In the

same line of reasoning, stating that “local shops are nearby” is another way of saying that shops nearby are located nearby. Local shops by definition refer to those in close proximity. It is okay to simply say, for example, “near to shops and school” or whatever attractions are close at hand. Put thought into what you are writing. While it may be a matter of only a few sentences, knowing how to maximize their impact can give you a definite edge on the competition. How many listings have you read stating things such as “functional kitchen” or “working furnace”? When selling a property, all items are expected to be in

working order. It should not be necessary to state that they are in working order. It is not a selling point that the kitchen in a preexisting house is actually usable. What you most want to convey to those who are looking at your listings is the facts in a straightforward and pleasing manner. Do not use a lot of fancy words to describe ordinary things. For instance, a 1950s style kitchen is probably not elegant, timeless or classy. It is a turn-off to a reader/buyer when flaws of a property are described as though they are jewels. Are you selling them a silk purse or a sow’s ear? It can cause doubt about valid features of the home when its detriments are looked upon in a loving manner by an over-zealous salesperson. Stick with reasonable and accurate descriptions. Your nononsense, easy to understand style will bring you more readers for your listing than one that tries to convey a fantasy world or fast deal. See how not to write listings, page 26, and Make it rain: How to get more listings, page 28 REM

CEN ENTUR TURY Y 21 DOME REALT A Y INC., REGINA, SK

RECIPIENT

OF THE

CENTURY21

BRAND LEADERSHIP AWARD 2016 Between the incred dib ible le franchi hise sees who have ave mentored me, our agentss an and d stafff wh who work hard every day, along with the eC C21 Leade de ers rshi hip p Team that is always willing to listen and ea eage gerr forr feedback, I couldn’t do what I do allon ne.” ” - Carla Browne, owner, CENTURY 21 Dome Realty Inc.

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26 REM MARCH 2017

Real estate bloopers #8 By Peggy Blair

S

ometimes the typos in a sales rep’s listing read like they’re written in dialect. For example, in my last novel, Umbrella Man, one of my main characters is a charming, flirtatious Russian intelligence officer named Slava, who speaks English well but with a heavy Russian accent. I thought of him when I read this listing: “Mack up an offer and upgraded this large unit.” On the other hand, there’s this one, which has gone a little abbreviation-mad and made me think of the Swedish chef on The Muppets: “Play gronds, Schols, Shopng cntr.” You wouldn’t be bored with this listing: “Open concept living/dining room layout with large widows.” Slava would love that feature.

He might even “mack an offer.” Sometimes salespeople know what they want to say, but aren’t completely sure of the right word. So they make one up! As in this recent example: “This property is located in an area over going lots of change.” Other times they will substitute a word that they think means the same thing as the one they wanted. Like this one for example, where “connoisseur” (which is what I think the sales rep intended) has taken on an entirely different meaning: “A stunning home perfect for a purveyor of fine things.” I suppose if you appreciate fine things, you might enjoy selling them too, but that’s a very narrow market. One of my favourite bloopers of all time is this one that I ran across for a rental unit last week, posted by the landlord/owner on Kijiji: “Hard floor threw out the unit.” Usually it’s the landlord who evicts a tenant, not the flooring. I certainly hope we can blame autocorrect, or we’re all seriously

doomed. (I can see the series already: The Walking Plank.) Speaking of hardwood, it’s usually a selling point but surely not in this case? “Hardwood replaced in 2012 Furnace.” I suppose laminate wouldn’t hold up as well. This typo in a new listing made me spit out my coffee: “specious two story single house.” Maybe it’s not really two floors. Or not really detached. We could probably argue about it. Catharine Inniss, a salesperson with Royal LePage Lakes of Muskoka, came across a listing in her area that featured “bored and baton” siding. I keep thinking of someone highstepping in a local parade, stifling a yawn as they idly swing the baton around their head in slow circles. I came across this unusual entry on an MLX listing a few days ago: Under “Possession,” instead of putting 60-90 days or “TBD” or “Negotiable” or “Immediate”, the listing agent had written: “On clocing.” Now, since possession usually

takes place on closing, that made me smile, but honestly, it was the typo –“clocing” – that put a whole different spin on it. It’s like something out of The Hitchhiker’s Guide to the Galaxy: When are we closing? I cloc the fullness. There is an LRT being constructed in Ottawa right now so this listing blooper made perfect sense: “Close to all amenities, school, hospital, collage, transit way, shopping mall, future light train!” I love the idea of a light train, but then, you wouldn’t want a heavy one in an area overgoing so much change. Speaking of heaviness, I ran into this unintentional gem that described a listed property as being “bran new.” I can see all kinds of ways to market that one: “Worryfree maintenance – everything runs smoothly! You might feel a little stuffed up, on the other hand, if you took this new listing literally: “Close to delicious restaurants and trendy shops.” Yum! I love a good, tasty restaurant almost as

much as I love their food. One of my favourite listing bloopers is this one, which was written in all-caps: “PAINTED PEAKS AND SLATS, CALIFORNIA SHUDDERS.” Now, I know California is an earthquake zone, but I’m not sure that’s much of a selling point. On the other hand, I have a feeling this new listing would do well in California, given the relaxed outdoor vibe: “Open concept living room and dining room with beautiful woodburning fireplace and patio doors that lead to stoned patio.” Holy crap, I thought, even the patio is stoned! But when it comes to worry-free maintenance, that’s got to be almost as good as bran. Peggy Blair is a sales representative with Royal LePage Team Realty in Ottawa. A former lawyer, she is the award-winning author of the Inspector Ramirez series published by Penguin Canada and Simon and Schuster Canada as well as internationally. Her most recent book, Umbrella Man, is now in bookstores. If you come across any real estate bloopers that tickle your funny bone, be sure to send them to her peggyblair@royallepage.ca. REM

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28 REM MARCH 2017

Make it rain: How to get more listings call everyone you’ve ever met. Send handwritten notes often. Host regular client appreciation events. Mine your database often. Keep yourself foremost in everyone’s mind.

H

aving a lengthy portfolio of listings is one key to real estate success. But how do you make it happen? Some agents have figured it out. The team of Valerie Del Brocco (broker) and Gigi Van Weezel (sales rep) with Sutton City Realty in Toronto have experience getting a whack of listings. “With the popularity of online searching and social media, it’s far too easy to put ourselves in a bubble and forget the human factor,” says the team in an email to REM. “Remember,

important to be active in social media – Facebook and YouTube are a must! (Always remember to comply with advertising rules.)”

A vital component of getting more listings is pulling off a successful listings presentation. Torwalt shares how to make it happen: “Always be professional with dress and punctuality. Never assume that it will be easy. Go in with the attitude that you are in a competing listing with other companies. Find out the house history and condition beforehand. Know the age demographics of sellers, each is approached differently.”

Dan Torwalt is the owner and a salesperson at Century 21 Diamond Realty in Humboldt, Sask. The firm’s motto is “Honesty-IntegrityProfessionalism-Results” and keeping that foremost is what Torwalt attributes to having a considerable number of listings. “My wife, Cheryl, and I have been selling real estate for over 14 years and started our own brokerage company eight years ago,” he says. “We believe we have a good reputation along with experience and knowledge in the city and area. We also are very community minded and the general public appreciates that.”

Dan Torwalt

Getting to know people in affiliate industries can be the ticket to more listings. Arrange meetings with the best divorce lawyers, financial planners, contractors, accountants, bankers and other professionals in your area. See if they are interested in a mutual referral program.

your prospect and/or client have neighbours…and they talk. So your service better be above par. Strive to give the best qualities of your skills and abilities. Also, in today’s day and age it is

Reaching out to everyone you know can bring more listings, but some people need more than a quarterly newsletter in order to think of you when they are ready to sell. Pick up the phone and

Valerie Del Brocco

Torwalt says you must “be prepared for challenges and have plan A, and if needed plan B and maybe C, to secure listings. Don’t be scared to brag yourself up in a humble way. Explain the strengths and tools (at your disposal) to market the property. Probably the most important is to show the same respect to all sellers, the $11,000 listing to the $3 million listing. Make seller satisfaction and happiness your No. 1 one goal – everyone deserves that respect – and if you have that attitude, you will have success.”

Another sales rep sends prospective sellers what he calls a “value package” before listing presentations. The package includes information about himself, his marketing strategies, testimonials from past clients and whatever additional information he thinks will help convince the sellers to list with him. An agent from Ontario shows up to listing presentations with a full marketing package for the home, including feature sheets and postcards that will be used to sell the property. He claims that when prospective clients see their home in professionally produced marketing materials, that’s usually the clincher to get the listing. Saturating an area with mail outs, door hangers, signage and the like can hook you listings. Del Brocco and Van Weezel share their thoughts on blanketing a neighbourhood, “Saturating a neighbourhood with different marketing items can be a successful way to gain a listing or two…if you’re lucky. I think what’s more important is to design a marketing strategy to establish yourself in a neighbourhood. The plan should ideally consist of more than one way of contacting your area. Prepare yourself and your budget for a long-term commitment. Start as small as your budget permits and build from there.” The team says there “should be a number of touches to the area that includes mail pieces but don’t forget about the personal touch. After all, you are not just selling a house, you are moving people and families.” And, the team says, you must get out and go door knocking. Del Brocco and Van Weezel say, “Mail outs are important. Just listed / sold cards and keeping your face in front of people is a great way to stay top of mind. Just remember that your message on the card should be

By Toby Welch

short and relevant for them to read on their way to putting your flyer in the recycling bin. Keep at it as after four to six months, they’re going to get familiar with your face and/or brand. Don’t just send one or two mailings, get discouraged and stop. Carve out, at a minimum, an 18-month mailer plan. Follow up with phone calls, be prepared to leave

Gigi Van Weezel

messages too (a message script is very helpful).” Getting more listings may be as easy as throwing a party. One Quebec agent has a party at every listing the weekend before the house goes on the market. A week before the soiree, he invites the 100 closest neighbours and spends the party hours prospecting. Another option is to throw a party a month after your buyers move into a home. You do all the prep work and party organizing so your clients don’t feel like it’s a burden. Then highlight to the neighbours what a great job you did selling the home and stress that you can do the same with their place. It all boils down to being proactive. That and going that little bit beyond what other agents do is often enough to secure more sellers. Bring on the listings! REM


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30 REM MARCH 2017

T

he Association of Saskatchewan Realtors (ASR) has named Rich Jeanneau, senior salesperson /associate broker with Colliers McClocklin Real Estate in Saskatoon, as ASR president for 2017. Jeanneau has been an active member of the real estate community since 1989 and brings a wealth of experience, knowledge and commitment to the position, says ASR. In addition to serving on the ASR Board of Directors, Jeanneau has also contributed as a director, vice president and president at the Saskatoon Region Association of Realtors, as well as a member of the Saskatchewan Real Estate Commission. “One of our focuses this year will be advocating on a number of issues currently affecting the real estate environment. We want to ensure that any changes coming down the pipeline don’t negatively affect our members or property owners in Saskatchewan,” says Jeanneau. “We’ll continue to enhance our educational offerings to both Realtors and students looking to enter the industry and contribute to communities across the province through our Quality of Life initiative.” Joining Jeanneau on the ASR Board of Directors are past president Kevin Wouters of Century 21 Prestige Real Estate in Prince Albert; vice president Lane Boghean of Century 21 Dome Realty in Regina and directors Shelby Wilke of Century 21 Broadway Park Realty in Yorkton; Teressa Mannle of Realty Executives MJ in Swift Current; Harpreet Christie of Re/Max Lloydminster Barr Realty in Lloydminster; Carmen Cartier of Royal LePage Icon Realty in Prince Albert; and newcomers to the board Ashley Turner of Century 21 Fusion in Saskatoon and Noel Geremia of Century 21 Dome Realty in Regina. Representing CREA on the board is Len Wassill of Century 21 Parkland Realty.

■ ■ ■

The Manitoba Real Estate Association (MREA) announced that Chris Pennycook is its 2017 president. Pennycook entered the profession in his early 20s and quickly became the top-producing agent at the companies where he worked, says the association. Each year since 2006, he has ranked among the top one per cent of all Realtors in Canada in the Royal LePage network. “When you walk into the boardroom of the Manitoba Real Estate Association, your hat goes on to work for what’s best for the profession as a whole and the

clients and communities we serve,” says Pennycook. “We represent the needs of the entire membership and we keep the public at the forefront of our efforts.” In commencing to lead the 2,200+ member association, Pennycook and the 2017 MREA board of directors will focus on strategic and community building opportunities, says the association. Pennycook says he is enthusiastic about strengthening the real estate market through initiatives that promote and bring business, trade and jobs to Manitoba. The MREA strategic plan also includes deeper provincial policy research and advocacy work and the planned roll-out of a modern, integrated online and classroom learning system. “Newly expanded capacity in the professional standards department and improved member dialogue plans will provide Realtors with modern tools to elevate professionalism and to engage the Realtor community with government to build stronger communities,” says the association. Pennycook also chairs the Real

Estate Insurance Alliance of Canada claims committee at MREA and has served on the sales division executive council at WinnipegRealtors for a number of years. ■ ■ ■

Blair Sonnichsen has been elected as the 114th president of WinnipegRealtors and will lead the 1,850-member association this year. “We are coming off our best year ever in terms of MLS sales and dollar volume,” says Sonnichsen. “We are committed to providing our members with the best resources possible to help buyers and sellers have a successful outcome in 2017.” Sonnichsen started his career at the age of 19 as a licensed salesperson and acquired his broker education in 1986. He is currently a sales associate with Royal LePage Dynamic. ■ ■ ■

Community connections and social responsibility, with a strong

The London and St. Thomas Association of Realtors (LSTAR) hosted a special Donors of Distinction event recently, celebrating community reinvestment with key business partners and local charitable organizations. LSTAR announced nearly $100,000 was raised in 2016 through the collaborative efforts of LSTAR, local businesses and outreach partners. Community organizations that benefited include Youth Opportunities Unlimited, Mission Services, London Health Sciences Foundation, Investing in Children and Hockey Helps the Homeless.

Rich Jeanneau

From left: Greg Fryer, executive director and John McLachlan, partnership co-ordinator, Habitat for Humanity - Grey Bruce; Kevin Woolham, past president, SGBAR; and Joy Fleury, executive director, Habitat for Humanity - Southern Georgian Bay. Chris Pennycook

Rob Alexander

The Brantford Regional Real Estate Association recently announced its 2017 Board of Directors. Back row, from left: past president Don Lea; CEO Mike Carson; and directors Judy Lillico, Jason Tangorra, Wendy Easveld and Kim Bailey-Brown. Front row: director Pamela White; president Shelly Gracey; president elect Allie VanDyk; and director Rose Sicoli.

Above: The Barrie & District Association of Realtors 2017 Board of Directors.

Blair Sonnichsen

focus on affordable housing, is the focus of the 2017 Board of Directors of the Barrie & District Association of Realtors (BDAR). “BDAR feels that community prosperity is based in large part on shelter and homeownership,” says 2017 president Rob Alexander. “As an organization BDAR will be focussing on affordable housing and helping first-time buyers understand how to get on the housing ladder. As part of this, BDAR is supporting Redwood Park Communities, a local organization that provides safe, affordable housing to vulnerable members of our community.” He says another of BDAR’s main priorities will be to increase partnerships with local and provincial organizations and economic development innovators. In addition to Alexander, the 2017 Board of Directors includes Geoff Halford, president elect; Mike Douglas, past president; and directors Tania Artenosi, Lindsay Percy, Bill Forsyth, Sue MacIntyre, Brian Turner and

From left: Britta Gerwin, director of development and communications, Habitat for Humanity Ontario Gateway North; Irene Wilson, director, SGBAR; Gerard Lyons, past chair and Kate Arnold, Family Selection - Habitat for Humanity North Simcoe.

Brian Canart, chair of the MREA Shelter Foundation


REM MARCH 2017 31

Stephanie Maye. The association recently presented donations to three community shelter-based organizations through the Realtors Care Foundation. The Door Youth Centre in Angus received $1,000; Barrie Out of the Cold was granted $4,000; and Redwood Park Communities received $1,000. ■ ■ ■

The best way to ensure millennials will be able to buy a home is by putting more homes on the market, the Ontario Real Estate Association (OREA) told Ontario’s Standing Committee on Finance and Economic Affairs recently. In its 2017 pre-budget consultation, OREA recommended the creation of an Affordable Home Ownership Task Force to determine how government can best improve housing supply and expand consumer choice. “We are facing a critical housing supply shortage that is putting home ownership out of reach for Ontario’s first-time buyers and young families,” says Valerie Miles, OREA Government Relations Committee Chair. “In some markets, housing inventory is at alltime lows and prices are at record highs. Increasing the housing stock is necessary to give buyers more options at affordable levels. We need industry leaders to come together on this issue before the supply problem gets any worse.” In its pre-budget consultation, OREA recommended several ways to increase housing stock, including reducing the red tape around getting building permits approved, dedicated funding to help service land designated for development to incent builders to start projects sooner and moving away from the proposed intensification targets under the provincial growth plan to allow developers to build housing types such as townhomes, duplexes and stacked townhomes. ■ ■ ■

A grant from the Manitoba Real Estate Association Shelter Foundation will help foster a love of reading and build English literacy skills for newcomer adults and children. The Immigrant and Refugee Community Organization of Manitoba (IRCOM) was one of 11 grant funding recipients in 2016. This was the largest number of grants awarded in a single year so far. IRCOM will develop a sunny

space into a library at its new Isabel Street location. Another recipient, L’Arche Winnipeg, creates homes and builds communities where people with developmental disabilities and their assistants can live and work together. A gift from the MREA Shelter Foundation will provide new flooring and carpets in five of the L’Arche homes. “When we can help the less fortunate members of our communities by supplying bed bug covers, by providing a safe and warm place to sleep on a cold winter night, or a refuge for women and children to escape violence, we all win,” says MREA Shelter Foundation chair Brian Canart. The grants, totaling more than $42,000, were also given to Esther House, Habitat for Humanity, Manitoba Interfaith Immigration Council, New Directions, Nova House, Resource Assistance for Youth, Samaritan House Ministries (Safe and Warm Shelter), Siloam Mission and the South Central Committee on Family Violence. The WinnipegRealtors Gimme Shelter fundraising social raises approximately $40,000 a year for the foundation. Brandon area Realtors raised $9,000 at the Shelter Classic Golf Tournament in the summer and $14,000 in the two years prior. Since 2008 the foundation has raised nearly $700,000 for shelter organizations across Manitoba. ■ ■ ■

YOUR INDEPENDENCE NEVER LOOKED BETTER.

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The Southern Georgian Bay Association of Realtors (SGBAR) recently presented more than $7,300 from the Ontario Realtors Care Foundation - Every Realtor Campaign to local Habitat for Humanity organizations in GreyBruce, South Georgian Bay and North Simcoe. The association says it intends to support the campaign again in 2017. “The Realtors Care Foundation is the legacy of every Realtor in this province,” says Stan Reljic, president of SGBAR. “It belongs to all of us. That’s why the (association) thinks it’s important to support its great work. Together we can make a difference.” In 2016, the foundation provided more than $1 million and provided grants to more than 225 shelter-based organizations. REM

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32 REM MARCH 2017

THE GUEST COLUMN

By Vito Campanale

A

fter more than 32 years in the brokerage business, I know that changing the way organized real estate and the Realtors who work in the industry do their business is not an easy proposition, even when it may be better for the industry itself and the consumers who rely on us. I am grateful that Joe Richer, registrar of the Real Estate Council of Ontario (RECO) stated his position regarding the clause that I proposed. It concerned getting consent from the seller at the time of signing of the Agreement of Purchase and Sale (APS) to release the deposit to the buyer when conditions in the

More about when sellers refuse to release the deposit agreement were not met by the buyer. Once again, the clause that I recommend is: “The Seller agrees in the event that the Buyer does not waive the conditions within the dates and times as set out in this agreement and its amendments, the Seller gives the Deposit Holder, the Brokerage or other Party holding the deposit an irrevocable direction to release the deposit to the Buyer without the necessity of a Mutual Release signed by either Party.” RECO’s position is, “There is nothing in REBBA 2002 that would prohibit the use of this clause to satisfy the requirement of written direction.” This statement is important because judging from some of the comments on REMonline to this clause, many registrants seem confused or concerned that the use of this clause would not be acceptable by RECO or somehow would not comply with REBBA 2002. Hopefully Mr.

Richer’s comments have put those particular registrants at ease. However, I would like to address some of the additional issues that he presented in his response to my proposed clause. Mr. Richer suggested that the seller’s and buyer’s brokerages, presumably their respective sales representatives, initial the clause to acknowledge their brokerage’s agreement to the terms of this clause. Since this agreement is between buyer and seller and the brokerages are not party to the agreement, I don’t think the brokerages’ initials on an Agreement of Purchase and Sale is appropriate. For example, if one sales representative did not initial it would have no affect on the binding agreement. Rather, registrants who represent brokerages should have clear direction from their broker of record as to the use of this clause from both the selling

and buying side of the transaction. If the respective broker of record does not accept the use of this clause, then the representative, after discussions with their client, can make the acceptable modifications to that agreement. This is what brokerages do today; if they find this clause unacceptable they simply cross it out and counter the offer. In many cases this is the first time that buyers discover that the return of their deposit, if the conditions are not met, is dependent on whether the seller will sign the mutual release. Mr. Richer also seemed somewhat concerned about the sellers agreeing to release the deposit before they know the specific circumstances that caused the deal to fall through. Most Agreements of Purchase and Sale don’t require the buyer to explain why the condition was not met unless the seller calls for such explanation in the agreement, which is rarely the

case. Typically the conditional clauses used in Ontario are for the buyer’s benefit. The release of the deposit should not be at the seller’s option. The use of this clause and the subsequent release of the deposit does not deny the seller the right to sue if they felt the buyer did not act in good faith during the conditional process. The current conditional clauses typically used in Ontario for financing, home inspection and insurance, in my opinion, are misleading because it leads the buyer to believe that if the condition in the agreement is not met, the release of the deposit to the buyer is automatic. That is not the case in Ontario, unless a clause like the one I am suggesting is used in the agreement. Currently, RECO holds thousands, perhaps more, of deposit dollars in trust from deals where buyer conditions were not met and the seller refused to sign the


REM MARCH 2017 33

mutual release. This is an injustice to the buyers, because these deposit funds do not belong to RECO and therefore they should be given back to those respective buyers! The concept of automatically returning the buyer’s deposits to the buyer when conditions are not met, from my limited research, happens in other provinces such as Manitoba, Saskatchewan and Alberta. My understanding is that the seller’s consent to release those deposits back to the buyer when a condition is not satisfied is built into the Agreement of Purchase and Sale. My suggestion that we obtain consent from the seller to release the deposit back to the buyers at the time of the signing the APS is not a significant change in how we do business in Ontario. It also complies with the Registrar’s Bulletin on failed agreements because the irrevocable direction is agreed to by both

Multiple Listings Continued from page 8

operate independently, take exceptional care of our clients and also leverage the strength of an international brand,” says Tim Down, principal and managing broker. The office is focused on commercial sales, leasing and property management services throughout the Okanagan Valley and B.C. Interior. “For many years I was with Colliers International where I worked with Tim – whom I’ve known personally for over 30 years,” says Mike Geddes, principal. “And I’m also a fourth generation Okanagan resident.” The partners, who also include principal Philip Hare, say they have something unique to offer their community. “There have been fairly dramatic changes in the commercial real estate market; restructuring related to buyouts and takeovers,” says Down. “We see the gaps that are opening up. We have deeper insights into market dynamics and we want the Okanagan to benefit from that.” Tony Parmar is also a principal with the firm. ■ ■ ■

Royal LePage Rose Country

parties to the agreement. As I indicated in my initial article, in most deals where the buyer’s conditions are not met, the seller is co-operative and they sign the Mutual Release and the buyer’s deposit is returned without incident. However it should not be at the seller’s discretion and when for whatever reason the seller refuses to sign, the buyer is understandably upset. In most cases he was not told or perhaps he did not realize that the seller could refuse to sign a mutual release. When this situation occurs we all look bad in this industry. This injustice cannot be fixed without the support of organized real estate. It’s a small change in Ontario but I believe an important one. Vito Campanale is a chartered professional accountant and has been a broker of record for 32 years at Century 21 First Canadian Corp. in REM London, Ont. Realty has boosted its agent count at its Camrose, Alta. office and at a satellite office in Killam. Royal LePage says the brokerage has increased its market share to 25 per cent, competing against six real estate companies within its 100-square-km trading area. Broker/owner Arnoud Colombijn began his real estate career 15 years ago. He took over the brokerage in 2009 and became broker/owner in 2010. ■ ■ ■

Recently at the Banff Western Connection conference, Royal LePage hosted an after-party to coincide with Canada’s 150 birthday, featuring all things Canadian. The event, which was open to attendees from across the industry, featured Canadian classics such as a poutine bar, local craft beers, maple sugar making and an axe throwing competition. The party was attended by more than 220 people, who revelled in the Canadian activities and spent time with colleagues across various sectors of the business. As a result of the success of their Canada Party, Royal LePage says it is already planning a follow-up event to be held at the 2019 Banff REM Western Connection.

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34 REM MARCH 2017

Taking fundraising to a whole new level Sales rep John-Ross Parks spent nearly six days and nights on a downtown rooftop to raise funds for charity, while Peter Kolisnyk shined a spotlight on homelessness by sleeping in a car for seven nights. By Kelly Putter

T

he word ‘extreme’ is thrown around a lot these days. There are extreme sports, extreme cheapskates and extreme home makeovers. There’s even extreme zip lining, yoga and pitas. This is the story of fundraising examples that could easily fall under the extreme category because these sales reps really and truly went above and beyond the normal call of duty. In late November, Belleville, Ont. sales rep John-Ross Parks spent nearly six days and nights on a downtown rooftop to raise funds for the Royal LePage Shelter Foundation after being moved to tears by the story of a young woman’s untimely death. The result? Parks raised $32,000. The money will benefit women’s shelters in and around Belleville. Meanwhile, in Oakville, Ont. during the same month, Peter Kolisnyk shined a big spotlight on homelessness, managing to raise more than $21,000 by sleeping in a car for seven nights. Both sales reps were moved to experience the same kind of struggles women and children in their respective communities know all too well. As such, each wanted to encounter a taste of what life is like on the streets. “I’m a huge reality TV fan because it’s real people doing real things, so we had the camera going

for 24 hours a day for six days while I was up there,” says 31-year-old Parks, a third-generation Realtor whose mother and grandmother, both Realtors, helped handle his practice while he was stationed on the roof. “There were times when it got very dramatic.” Like the time a viewer shared with Parks a tragic tale of his girlfriend’s brutal murder or when Parks suddenly lost his audience thanks to the Internet service going down. Parks raised funds by allowing viewers to request whacky

Both sales reps were moved to experience the same kind of struggles women and children in their respective communities know all too well.

John-Ross Parks during his rooftop adventure.

challenges such as getting a tattoo, singing karaoke, eating wet dog food, writing poems and shaving off his eyebrows. As news of his exploits spread, his audience grew to thousands, some of whom donated $50 to $100 or more in some cases to watch him do an art project, colour his hair or allow him to use the bathroom for a much-needed pee break. Donations poured in from as far away as Alberta, Seattle and New York City. Kolisnyk, 56, also used technology to get the word out about homelessness. Wrapped in a sleeping bag and fur-lined bomber hat, he spent seven nights from 7 pm to 7 am in an Infiniti parked less than 50 feet from the Queen Elizabeth Way expressway, which meant noise, lights, wind and frosty temperatures. He slept two to three hours each night and soon discovered the isolation and misery that goes with not having a warm bed of your own. “We tend to take for granted how fortunate we are to have a fridge full of food, a bed to sleep in, little things in life that bring us comfort,” he says. “That’s the dichotomy of Oakville: there’s this belief that it’s very luxurious living here but we also have homelessness. It’s right here in plain sight.” The sales rep, who is with Royal LePage Real Estate Services in Oakville, raised funds for Home Suite Hope, a Halton-based charity that helps re-establish single mothers and their children. Numerous supporters, including his 20-year-old son who brought hot chocolate pick-me-ups, visited him in the car during his weeklong stay. The fundraiser hit a high point when Ontario Labour Minister Kevin Flynn dropped by to show his support. The Fraser Institute says that Canadians aren’t nearly as generous as our American cousins when it comes to giving to charity. But that said, we’re taxed more heavily so we give regardless. Manitobans, it seems, come ahead regionally as the most generous province, while women are said to be more giving

Peter Kolisnyk gets ready for another long night in the car.

than men. When it comes to professions, identifying who gives more is pretty difficult to uncover. But if you’ve been working in the real estate industry for any length of time, you’d have to have your head in the sand not to see that it’s a generous lot. According to CREA, the real estate industry raised nearly $20 million in 2015 for charities and good causes, and the industry has donated over $91 million to charity between 2012 and 2015. It now features a page on its website to showcase charitable endeavours. “We give more per capita than any other profession,” says CREA’s Pierre Leduc. “We wanted to point that out with the revamp of our website. We wanted people to see that Realtors are productive members of the community who help with charities and are not just selling houses.” Rain, snow and cold temperatures made for chilly nights, frozen water bottles and exhaustion but that wouldn’t deter Parks or Kolisnyk from doing their fundraisers again. In fact, it looks like both have plans to broaden their efforts this year. Parks, who is with Royal LePage ProAllaince Realty, has already expanded his icanrebuild.com campaign to include merchandise sales and is hoping to offer inspirational talks

on fundraising. He’s planning a “twisted” garden party to raise funds and has earmarked $50,000 as his goal for his participation in Royal LePage’s charity trek to Iceland this summer. Kolisnyk is eying Sept. 23 for his next event. He’s planning to stage a mass sleep-in-your-car, onenight event with 100 Halton area car owners each raising $1,000 for a grand total of $100,000. As for using his good works to leverage clients, don’t even go there, says Kolisnyk. “One thing really has nothing to do with other,” he says. “I’m doing this because this is what I want to do with my free time. Because of what I’m fundraising for, I think it would be in poor taste to use them as a calling card to say you need to hire me. I do this because I support the cause and believe in the cause.” Parks isn’t sure whether or not his rooftop fundraiser has helped or hurt his real estate practice. For him, the big takeaways from the experience centre on grasping how privileged his life is and realizing the wonder and goodness that exists in everyday people. “My faith in people was really restored and people are pretty powerful especially when you attach the Internet to them,” says Parks. “I’m definitely a much nicer person because of it.” REM


REM MARCH 2017 35

Real estate teams: My lunch with Ken Goodfellow THE LEBOW REPORT

By Barry Lebow

D

uring my recent winter trip south, I had the pleasure of having lunch with my friends Shirley Porter and her remarkable partner, Ken Goodfellow. It was a lovely day on a restaurant patio in Fort Lauderdale as Ken and I got talking about our passion, real estate (sorry Shirley!). Ken is not a mainstream real estate coach, he is at the upper crust of real estate coaches. Before he takes on a salesperson they must be grossing at least $600,000 and then some. There is also an extensive questionnaire before he

I asked Ken why so many agents leave teams and he said there are three main reasons. decides if the person is actually coachable. I have been fascinated for some years about the development of teams. If I were younger I would push hard to build a team but I am a content niche player, a go-to expert in my own areas of real estate. As we ate, we discussed why teams make it but also why teams fail. As Ken explained, many do not have good business models nor the

discipline needed. Salespeople are entrepreneurial in spirit and as it has been stated so many times, a good salesperson is not always a good manager. Ken blames the collapse or failure of a team at the feet of its leader. A team requires a fulltime manager. A strong manager keeps the paperwork flowing, follows up, keeps everyone working together and most important, ensures that there is full service for the leads, the customers and the clients. A team has to constantly be growing and that means constant recruiting of the people who are a good fit and will bring skills to that team. The team has to have a common goal. There has to be a synergy amongst the team members. I asked Ken why so many agents leave teams and he said there are three main reasons: 1) a lack of recognition 2) a lack of growth within the team 3) a lack of decent money or earnings Some brokerages embrace teams but others are threatened by them. In order to attract strong teams, a brokerage must provide value for them, and it has to be flexible in respect to commission splits. Teams are different and the rules for individual agents are not the same as for a team. It was a superb lunch with friends and being with one of the great leaders in our industry. At the end of a lovely meal we just sat back and watched the yachts go by our table, while thinking that some of them likely belong to real estate professionals who have mastered the concept of how to run a team properly. They got trained. In August 2017, Barry Lebow will commence his 50th year in real estate. He has had an extensive career and has been accepted by Canadian courts as an expert in real estate matters in more than 500 trials. He is an international speaker and an award winning broker at Re/Max Ultimate Realty in Toronto. Email barry@lebow.ca REM


36 REM MARCH 2017

has hosted 20 golf tournaments since 1992, raising more than $100,000 for local charities. ■ ■ ■

Good Works S

ales reps Rayissa Palmer and Sandy Bodnar of Sutton Group - Old Mill Realty in Toronto recently collected gently used shoes for the 21st annual Ron White Shoe Drive. White, a local designer, refurbishes the donated shoes and then distributes them to charities such as the Centre for Addiction and Mental Health, the Suits Me Fine dress for success program and the New Circles Glow. Their clientele include men and women who cannot afford suitable office attire. “My mom, Sandy, raised our whole family to donate our time to support those who are in need,” says Palmer. “This shoe drive is one way we do this. One of the charities to receive shoes, New Circles Glow, assists refugees. My grandparents on both sides were immigrants to Canada and the U.S. in the 1950s, so I directly understand how tough it can be for immigrants experiencing a different country. If we can have a small part in making someone’s new life in Canada a little bit better, we are delighted to be a part of that.” ■ ■ ■

Real Estate Centre of Coaldale, Alta. recently hosted its 4th annual charity event, in support of STARS and HALO Rescue. Guests were surprised when a HALO helicopter flew in and a STARS mobile training unit with an “interactive patient” arrived to provide them with a look at the advanced equipment used to save lives across Canada. The auction was a great success as guests dug deep into their pockets to raise $30,332. ■ ■ ■

Sutton Group - Select Realty in London, Ont. recently presented $9,000 to the First Episode Mood and Anxiety Program of the London Health Sciences Centre. The funds were raised at the brokerage’s golf tournament in September. The Golf Committee, chaired by sales rep Ashley

Winder, spent six months planning the event. Fundraising was also accomplished with auctions, raffle tickets and the generosity of corporate sponsors. The company

Women and children fleeing family violence will benefit from the services of several Ottawa-area shelters as a result of more than $35,000 raised at Royal LePage Performance Realty’s annual fundraising auction and luncheon. More than 90 items were auctioned, including theatre tickets, jewellery and autographed sports Continued on page 37

Sales team members from Re/Max Ocean Pacific Realty in Comox, B.C. presented a cheque for $1,000 to Geoff Manning, centre, of Everybody Deserves a Smile in support of their outreach to the homeless. From left: Chris Flynn, Denise Jefferey, Jill Davis, Gillian Shoemaker, Margie Anderson and Marty Douglas. (Photo: New Leaf Photography)

Royal LePage Performance Realty auction committee members accept a cheque from event sponsor Scotiabank. From left: Judy Mulligan, Saweena Seth, Kathy McVeigh, Anna Russell, Shelley Logue, Wendy Childs, Jutta Witteveen, Malissa Garcia, Lise Snelson, Gloria Bae and John Rogan.

Rayissa Palmer, Ron White and Sandy Bodnar

The Fun Team organizing the comedy night event, from left: Rob Christensen, Sadaf Baig, Mubin Talati and Neru Johal.

Sales rep Judy Larmand of Royal LePage In Touch Realty presents the proceeds of her Comedy Night fundraiser, held in support of the Royal LePage Shelter Foundation.

From left: Bruce Sworik, broker of record, Sutton Group - Select Realty; Lindsay Manz of London Health Sciences Centre; and Ashley Winder, a sales rep at Sutton Group - Select Realty.

From left: Real Estate Centre of Coaldale, Alta. hosted a charity event that raised more than $30,000 for rescue air ambulance services. From left: Heleen Jacobsen, Lisa Marie Scott (STARS), Ben Van Dyk, Jackie Velcoff (HALO Rescue), Chris Classens, Matt Perin and Ang Clingman.


REM MARCH 2017 37

Are you confident or arrogant? By Jeffrey Wagman

T

here is a distinct difference in the qualities of confidence and arrogance in a person, but often the qualities crisscross with each other. It is imperative to recognize the difference when dealing with people. Maybe you have confidence in yourself, but how are you portraying that to others? Are you coming across as arrogant? Check and make sure you aren’t. Confidence is something one should never be ashamed of. Confidence is a wonderful quality in a person and can help create successful relationships, both personal and business. When you need a lawyer, wouldn’t you want them to be confident in their abilities? How about a doctor, an accountant

or your financial advisor? I would. Now what if those people were arrogant? Does that change your impression? Do you still want them to represent you? If I needed a life-saving medical procedure, I wouldn’t pay attention to the doctor’s demeanour as much as I would to his ability to save my life. If he was arrogant, I really wouldn’t care. It would be the same for a lawyer who was defending me from a potential lengthy jail term. If they are the top of their field, then so be it. Arrogance is not my concern because I’m not looking for a long term relationship here. Now let’s look at real estate salespeople and brokers. If I’m looking for a real estate professional, I would like to have the best, yes. But if he’s arrogant? Not a chance because there are many other very qualified professionals that I’m confident

I could find. See how I used the word confident? You don’t want to be arrogant. You want to be confident and display this to your clients, but be careful not to cross that fine line to arrogance. Being confident is easy. It’s an approach that makes the client feel they are being looked after by a true professional who puts his clients first. There it is. The arrogant salesperson puts his or her interest first. The confident salesperson puts his or her clients’ interest first. Know the difference and it will pay you large dividends. Jeffrey Wagman is a partner and broker of record at Forest Hill Real Estate in Toronto. He sells homes and condominiums in the central Toronto market and is consistently ranked in the top one per cent of all real estate salespeople in Toronto. REM

905-477-0011 Good Works Continued from page 36

memorabilia. A dedicated auction committee collected another 250 gift cards for the event’s silent auction. The day also featured a bake sale, craft sale and lunch, all of which was staffed by volunteers from local shelters Nelson House and Maison d’Amitié. The 2016 Auction Committee members included Judy Mulligan, Lise Snelson, Retah Jennings Lalonde, Kathy McVeigh, Malissa Garcia, Dianne Masson-Yensen, Jutta Witteveen, Karim Mohamed, Gloria Bae, Mary McConnell and Anna Russell, as well as Saweena Seth and Zahra Alam from Nelson House. ■ ■ ■

Sutton Premier Realty and representatives from TD Canada Trust are hosting a comedy night fundraiser in support of the Surrey, B.C. Christmas Bureau. Tickets are now available for the show on March 5 at Latrines Comedy Club,

530 Columbia St. in New Westminster. Doors open at 6 pm and the show begins at 7 pm. Tickets are $20. “We want to try something different from past years by offering an evening of laughter for a good cause,” says Larry Anderson, broker at Sutton - Premier Realty. The Fun Team members organizing the event are hoping for a good turnout and lots of laughs. Their goal is to sell 200 tickets with all proceeds benefiting families in need who register with the Surrey Christmas Bureau. Over the past several years Sutton - Premier Realty has raised more than $30,000 to provide much-needed food, toys and other Christmas gifts. In December 2016, they delivered $5,300 worth of holiday joy to 15 families including 25 children. For more details, call 604-5818400 or email info@suttonpremier.com. ■ ■ ■

A sell-out crowd of 300 attend-

ed a Yuk Yuk’s comedy night organized by Judy Larmand of Royal LePage In Touch Realty in Coldwater, Ont. The event raised $6,800 for the Royal LePage Shelter Foundation, in support of Larmand’s participation in the Iceland Challenge for Shelter. To be eligible to participate in this event scheduled for July 2017, each trekker must raise at least $5,000, which will be directed to their local women’s shelter and national programs aimed at breaking the cycle of family violence in Canada. In Larmand’s community, La Maison Rosewood will benefit from her efforts. “It was standing room only and the three comedians who performed knocked it out of the park,” says Larmand. “But seeing our community come together in support of our local shelter to benefit women and children escaping family violence was by far the best part of the evening.” REM

RE/MAX All-Stars Realty Inc Inc. Brokerage is pleased to welcome KERRY HENDREN and PERRY SMITH and our newest location in Omemee. This brings us to 16 offices to serve you from Toronto in the south, Keswick to the north, and Kawaratha Lakes to the north east. Along with the #1 brand in Canada, contact us to help you make the right move. Go to remaxallstars.ca to view all our listings.

KERRY HENDREN

PERRY SMITH


38 REM MARCH 2017

The open house: Bond or bomb

ATTENTION:

NEW BRUNSWICK REALTORS ®

By Ross Wilson

2017 ANNUAL GENERAL MEETING & EDUCATION CONFERENCE

I

n the final instalment of the open house series (you can read the previous articles at remonline.com), I wish to address the all-important prospect bonding process. You’ve invested your precious irreplaceable time, hopefully not in vain, and established that your visitors are buyer orphans – that is, not under contract with another brokerage. Wouldn’t it be nice to know that you’ve succeeded in making a positive connection with your guests? As you near the end of the showing, during which you’ve been gently asking probing questions and actively listening to replies – verbally and non-verbally – you’ve deduced a lack of interest. Before even asking how they feel about the property, you might voluntarily opine that this property is probably not for them (unless, of course, it is, in which case you perform a trial close). The couple may have exchanged a momentary look during the showing that shouted their longing to escape at the first opportunity and may be pleasantly surprised and relieved that you sensed their feelings. Released from the unpleasant task of telling you it’s not for them, they might hang around a little longer to chat. Once again, it’s about bonding, about connecting on an emotional level. As you approach the front door,

April 11th to 12th, in Fredericton Join your fellow REALTORS® from across New Brunswick!

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Attend and you will be able to complete the Mandatory Continuing Professional Development (MCPD) education requirements for 2017.

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Network with fellow REALTORS® and industry professionals at our trade show.

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Hear an update from your national real estate association, CREA.

REALTORS® CARE Charity Auction and Dinner, April 11th Supporting Liberty Lane Inc. For full conference info and registration information, visit:

NBREA.ca

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if you’re unclear about their feelings, ask them how they feel about the home – not what they think about it. The two questions will illicit distinctly different answers. Ask for their thoughts and they’ll probably reply that it has most of the basic ingredients they’re searching for, but they’re unsure. Inquire of their feelings, however, and they’ll often honestly say whether or not they like it or that it’s lovely or they hate it. Thoughts will be about the property, whereas feelings will be about them. Make it about them – not the house. Buying decisions are based primarily on feelings – not thoughts. Feelings rule. If you feel you understand their wants and needs, as you all return to the foyer, in a natural and spontaneous way, verbally summarize the answers they gave to your various questions sprinkled throughout the viewing. “So, John and Jane, you want a large master suite with a private bathroom and three other bedrooms for Jimmy, Judy and Jodie. You prefer a main-floor family room with a gas fireplace and a big kitchen. You appreciate the benefits of a main-floor laundry and prefer the spaciousness of a double garage for all the family bikes. You definitely don’t want a swimming pool, but a finished basement would be a definite plus for a kid’s play area. Because of your daughter’s allergies, you prefer hardwood floors instead of broadloom. Walking distance to a public school is a priority. And it’s a bit more than you prefer to spend.

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DO YOU KNOW WHAT TO DO IF THIS HAPPENS: • You have a small claims court matter to deal with? • Your client has a “tenant from hell”, and he/she has to be evicted? • Your client wants to reduce his real estate taxes? (A way to get more listings: offer this service.)

• You received a letter of complaint from RECO?

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Have I got that about right?” I guarantee they’ll be impressed. They may not show it, but they’ll be pleased that you made the conscious effort to not only remember their names, but all they had shared during the showing. They’ll appreciate that you paid attention. You may even have helped them clarify their own needs. Ask them if they’d permit you to save them a ton of time, effort, frustration and fuel exploring a never-ending series of open houses held at unaffordable or unsuitable homes and constantly perusing newspaper ads and websites. Offer to email them every new listing, including details, photos and virtual tours of homes that might meet their specific needs, price range and preferred neighbourhood. They’ll not have to lift a finger (except for their mouse) or load the kids into the car on futile jaunts every weekend. If their wants and needs are unusual or unique, or they’re luxury or rural home buyers, offer to personally preview the listings for computer-unsearchable features to filter them further. If they already own a home, do they have an estimate of its market value? To provide further opportunity to enhance your bond, offer them a complimentary Comparative Market Analysis. By agreeing to accept your service, they’ll have a more accurate estimate of how much they can realistically afford to spend. Unbeknownst to them, they may qualify for an even better place! The clincher is that your buyer agency service will not likely cost them a dime. If you’ve impressed them with your charming attention, how could they refuse? Ross Wilson, broker with iPro Realty, has extensive experience as a brokerage owner, manager, trainer and mentor. His new book, The Happy Agent – Finding Harmony with a Thriving Realty Career and an Enriched Personal Life is available where print and e-books are sold, including the TREB, BREB, RAHB and OMDREB stores. Visit RealtyVoice.com. REM


REM MARCH 2017 39

THE PUBLISHER’S PAGE

By Heino Molls

T

Yes, it is more difficult than ever for the common Joe and Jill to buy a home. Yes, we run a risk of challenges if interest rates rise. At the very worst, property values may not rise at the incredible rate they have gone up in the past decade. They will, however, absolutely hold and I stress they will not go down. It is far more likely that even if the economy goes into duress, which I don’t think will happen, property values will not just hold, they will continue to go up. Do the math on your own. Not the math of the naysayers, the doom and gloom crowd, the people who will show you diagrams and charts with circles and arrows that pinpoint the exact time and date of the collapse of the real estate market. Rather look around, see what is going on and add it up for yourself. Census Canada figures show that Canada’s population has rocketed past 35 million. In fact, that number is going to be 36 million before the ink is dry on this most recent report and it will, without a doubt, be going at light speed past 40 million way before 2020. That means a huge boost in housing demand. It means that the privilege of living in a home in Canada, not to mention an actual house in Canada is going to come with a high cost. You think the cost of a

house in Toronto, Vancouver or Ottawa is high now, just wait. We are facing many problems in our country. There is not enough time and space here to discuss all the challenges of health care, especially mental health care, as well as housing for the poor and marginalized people in our society. Another major challenge that should be mentioned in the same conversation as housing and property value is public transit. Our governments are scrambling to build new transit ways and highways to accommodate all the people who will be travelling to and from our inner cities for business, health care, restaurants and entertainment. Our biggest problem is going to be building transit, not just within our cities but also from the towns and satellite communities that will have even higher population growth in the coming years. Communities like Chilliwack and Abbotsford in B.C. and cities like Kitchener-Waterloo not far from Toronto. The same for all other cities in the country. Transit is going to be our biggest problem. Falling house prices. Yeah, not so much. Heino Molls is the publisher of REM. Email heino@remonline.com. REM

For complete listings, see www.remonline.com To add a listing to the calendar, email jim@remonline.com Engel & Völkers Exchange March 6 - 8 Fontainebleau Miami Beach Miami Beach, FL www.evexchange2017.com Kitchener Waterloo Association of Realtors Tech Show Wednesday, March 8 Bingemans Marshall Hall Kitchener, Ont. www.kwar.ca Realtors Association of Hamilton-Burlington Realtor Connections Thursday, March 9 Grand Olympia Convention Centre Stoney Creek, Ont. www.rahb.ca/eventssponsors/ realtor-connections/

New Brunswick Real Estate Association 2017 Education Day and AGM April 11 - 12 Fredericton, N.B. http://nbrea.ca/nbrea-2017agm-sponsorship/ HomeLife International Conference and Awards Gala 2017 Friday, April 28 Fallsview Casino Resort Niagara Falls, Ont. Toronto Real Estate Board’s Realtor Quest May 10 – 11 Toronto Congress Centre Toronto www.realtor-quest.ca

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

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here are people out there who bewildered to think we are actually in the year 2017. For many it is hard to believe that we have come this far past the millennium. The Y2K warnings, followed by unspeakable disaster and frightful terrorism that has been with us since the turn of the century have made for challenging years. The recent census shows there are way more people in most Canadian cities than ever before. Many have benefited from this influx of people. First and foremost, for us anyway, are the people who have done well in the real estate boom. It isn’t just the people who traded property but those who managed to hold on to their properties through these years and now realize a tremendous rise in its value. From everything I see, there is no sign of this boom in property value abating. The only thing I see ahead is the number of people who will predict the devaluation of property values. The bubble bursting. The collapse of house prices on the horizon. I see no such disaster ahead.

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