August 2018

Issue #350

August 2018

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Frank Polzler and Walter Schneider

Selling in Muskoka for 40 years Richard Wallace grabs the brass ring Page 10

New Right At Home president ponders expansion Page 4

Tracy Niu masters Vancouver’s volatile market Page 22

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REM AUGUST 2018 3

TheRedPin closes down: Being a tech disruptor isn’t easy TheRedPin “couldn’t figure out how to make it profitable enough to keep being a disruptor,” says Zolo’s Romana King. By Danny Kucharsky

T

ech disruptor real estate brokerages can survive and prosper but only if they have the right business models, says Romana King, director of content at Zolo.

She was commenting on the recent closure of TheRedPin, which shut its head office doors at Church and Front streets in downtown Toronto after being in business for seven years. The online brokerage went into receivership almost a year after CEO Keith McSpurren, who has a solid background with start-ups, was hired to revamp the company.

TheRedPin “couldn’t figure out how to make it profitable enough to keep being a disruptor,” says King. She maintains that Zolo, founded in 2012, has been profitable since its second or

third year of operations.

According to The Toronto Star, TheRedPin’s investors included the Trilogy Growth fund financed by ONEX Corporation founder Gerry Schwartz.

“It was a high-risk, highreward situation,” McSpurren told The Star. “If I figured it out there would have been great rewards.”

The closure of TheRedPin affects an estimated 80 real estate agents and a number of office staffers, including a team of software and artificial intelligence (AI) developers who had been brought on by McSpurren.

Representatives of TheRedPin could not be reached for comment.

Although it was wellfinanced, TheRedPin closure

shows that “real estate is a hard industry to disrupt and tech brokerages are hard to scale,” John Pasalis, president of another tech disruptor brokerage, Realosophy, said on Twitter.

Tech disruptors such as Zolo, Zoocasa, Realosophy and TheRedPin have viewed real estate brokerages as old businesses that can be improved upon through the use of technology that provides solid market intelligence, King says.

But “the difficulty with real estate in Canada is that you have to work within board regulations and you have to work within the rules of real estate. For that reason, there’s only a certain number of ways you can structure a real estate business.”

In addition, new tech start-ups

face an uphill battle because established real estate brands have decades of marketing behind them.

“That’s why I think it’s so important that a tech start-up that really wants to be part of this business needs to address whether or not they’re a profitable business model before they go out and make their waves.”

The “very tried, tested and true” real estate industry in Canada will require more than a couple of tech start-ups to change the way the business is conducted, she says.

King suggests that TheRedPin over-relied on providing discounted services and commissions to buyers and sellers. “A place that markets itself on discounts – when I’m talking about my largest asset, I have trouble with that.”

She adds TheRedPin was try-

B.C. speculation tax will hurt communities, says builder .C.’s proposed speculation tax for owners of resort properties is well intended but if it goes ahead in its current framework it could hurt touristreliant communities and be punitive to long-term residents, says a B.C. resort developer/builder.

While the proposed tax aims to target foreign and out-of-province investors who do not pay income tax in B.C. – and it includes owners who leave homes vacant – it could unfairly affect some B.C. residents who have owned second homes for many years, says Randy Trapp, president and CEO of Luxury Resorts West, a B.C. resort developer/ builder.

In its current state, the tax, which would be in place next year, will only apply to B.C. owners of second homes assessed at more than $400,000 in Metro Vancouver, The Capital Regional District (Victoria

B

and surrounding communities), Kelowna and West Kelowna, Nanaimo and parts of the Fraser Valley, including Abbotsford and Chilliwack.

Trapp says he doesn’t disagree with what the government is trying to accomplish. A speculation tax makes sense in downtown Vancouver and Victoria markets, for example, where presales are driving up prices, creating an “artificially inflated market,” making homes unaffordable for many fulltime residents, he says.

“But I think the broad sweeping areas of the applicability of this tax are somewhat misguided insofar as they will have a negative impact on (sales) in areas that are tourist driven and tourist reliant,” says Trapp.

Trapp’s resort developments in Parksville (Vancouver Island) and Radium Hot Springs in southeastern B.C. do not fall under the spec-

ing to develop AI applications when it shut down. “We’re not there yet” she says of the use of AI in real estate. “When you double down on new tech to try and build your business model, that’s risky.

You either have to have deep pockets or a really great business model.”

King says Zolo “flew under the radar” for years while it built its business model and only “popped our heads up” and started marketing significantly when that model worked consistently.

Zolo’s gross revenues have increased from $148,471 in 2013, its first year of operations, to $16.1 million this year, 39 per cent higher than last year. “We’re still growing year after year, even though the market has turned in the GTA,” REM King says.

ing to make a one-size-fits-all tax and I don’t think that is the best way to go about it.”

He says a number of communities under the speculation tax

By Don Procter umbrella are tourist reliant. The tax could negatively impact their growth.

While Trapp couldn’t give specifics on the impact of the tax in those tourist communities – Kelowna, for example – because his company has no experience there, he commented on the importance of tourism to Parksville, where he has an ocean-side resort development.

Under the government’s original proposal, Parksville was subject to the speculation tax, but the business community and city took Trapp says the speculation tax could drive up prices in communities that are exception and the province backed not directly impacted by the proposal. down, he says.

If applied in Parksville, the speculation tax rules, so they could draw over the tax and how it affects our prospective buyers away from industry is, quite frankly, that our ulation tax would have dire effects, Greater Victoria and Kelowna, customers are not speculators,” he he says, noting 40 per cent of the which are subject to the tax. says, noting speculators hold prop- city’s economic activity is driven by But that could drive prices up, erty “for a very short time” and sell tourism, representing about $130 million annually. creating an affordability issue, he as prices rise to make a profit.

“Parksville has a high percentsays.

“Many of our customers have “One of my philosophical dis- owned property in excess of 10 age of second homeowners who agreements with the government years…They (government) are tryContinued on page 26

4 REM AUGUST 2018

New Right At Home president ponders expansion

By Mario Toneguzzi

R

ight At Home Realty, Canada’s largest independently owned real estate brokerage, is exploring expanding its reach outside the Greater Toronto Area.

John Lusink, president of Right At Home, says the company has become a force in the real estate industry and is now strategically looking at how the brokerage can grow and what markets it can expand to in the future.

“Is it nationally or is it just across Ontario? Those are some of the big picture things that I’ll be looking into,” says Lusink, who recently joined the company after being regional vice-president of Canada brokerage operations for eXp Realty.

Right At Home was founded in 2004 and has been the No. 1 real estate brokerage in the GTA for the past five years. It has more than 3,900 Realtors, serving Toronto, Mississauga, Richmond

Hill, Vaughan, Durham, Newmarket and Burlington.

Since its inception, the brokerage has been expanding at a phenomenal rate.

Lusink said the brokerage is based on real estate agents taking 100 per cent of the commission on the sale of a home with a fee charged by Right at Home for processing the transactions. He says the company was a disruptor in the industry 14 years ago, with its focus on providing the salesperson with all the commission.

“The ability to leverage off of the sheer volume of our deals for the benefit of our customer, i.e., the reach and exposure of any of our customer’s listings, is massive as a result of our approximately 4,000 agents,” he says.

Lusink says this drives a lot of traffic to the company’s agents and to Right At Home’s website. “As we know, the consumer is very savvy and uses the web first and

foremost to search for property, information and any other items to do with real estate.”

He said the company’s focus is on being a business partner, understanding that its salespeople need the best transaction, administrative and management support but they are in charge of driving their personal sales – in business for themselves but not by themselves.

“As an independent brokerage, it is a nimble, dynamic firm that has excellent resources, which are some of the best-kept secrets – ongoing free training, great open area offices, our own call centre, staff in every office who focus on assisting agents and customers and (they) don’t have to worry about answering calls,” says Lusink.

Part of the brokerage’s strategy going forward is focusing on changing the perception of the brand, because many people think

P

has aspects in common with the Purplebricks model and ethos in the U.K., Australia and the U.S.” The company says DuProprio/ ComFree has built up a 20.2-percent market share of the real estate market in the province of Quebec and has a two-per-cent market share in Ontario and 2.3 per cent in Manitoba, Saskatchewan and Alberta.

It will continue to be led by the existing management team headed

by CEO Marco Dodier, CFO Jean Bruno Lessard, COO Lukas Lhotsky and CLO Marie-Christine Blain.

“We admire Purplebricks for what they have achieved across three continents in just four years,” says Dodier. “We share their ambition and desire to offer consumers a new and better way to buy and sell property. To have their support, expertise and financial backing will help propel DPCF to even greater heights and allow us to replicate

it’s a discount brokerage.

“I feel there’s opportunity for all kinds of models (in the real estate industry) especially in a market like Toronto where we have 52,000 members now at the Toronto Real Estate Board.”

Lusink, who was a director with TREB for six years, says he took the position with Right At Home to lead the strategic direction going forward.

He says tighter mortgage regulations introduced earlier this year

Exit Realty whitepaper looks at mergers and acquisitions

Purplebricks purchases DuProprio/ComFree urplebricks, an online estate agent based in London, England, has acquired the DuProprio/ComFree Network from Yellow Pages Digital & Media Solutions Limited.

The deal is for $51 million, the companies say.

Purplebricks expanded to North America in September 2017 in Los Angeles and moved into San Diego, Sacramento and Fresno earlier this year. It is also planning to expand to Las Vegas and Phoenix.

“DuProprio/ComFree developed a strong presence in delivering a flat-fee, cost-effective, professional real estate service to the people of Canada, challenging the conventional agency market,” says Michael Bruce, global chief executive of Purplebricks. “Their model of bringing a range of service packages and support, with access to expertise, from coaches to legal professionals, is proving highly attractive to the Canadian public, and

John Lusink

have made an impact on the GTA residential real estate market recently, grinding activity to a halt.

One of the trends he’s seeing in the market is taking place in the condo sector.

“Originally condo developers were building condos in sizes that today apparently aren’t matching what the buyers want. You now have families looking to move into condos because there aren’t options for them, whether it’s financial or supply,” says Lusink.

“I’ve actually seen a few developments where they’ve gone back and re-designed units to fit the market.”

Another trend, Lusink says, is, “We’re moving to more of a generation of renters. I don’t know how my kids are ever going to own unless they win the lottery. Rents have become almost out of reach and salaries and wages haven’t kept up. That’s a huge challenge for young folks.”

REM

Marco Dodier

our success in Quebec across the rest of Canada.”

DuProprio/ComFree employs about 400 people in offices in Quebec, Montreal, Hamilton, Winnipeg and Edmonton.

Under the DuProprio brand in French-speaking Quebec, the company offers homeowners a flat fee listing service for property sales.

Under the ComFree banner in the rest of Canada, the company operates an online brokerage model that also offers a flat fee.

“Customers only select and pay for the services that they want and the DPCF platforms provide customers with the tools and information needed to manage the sale of their homes successfully,” the company says. REM

I

s it a good time to sell your real estate business, or a good time to acquire an existing company? A white paper by Exit Realty Corp. international CEO Tami Bonnell says the market is equally primed for both.

“Even with advances in artificial intelligence and artificial valuation models, I believe that most of the business will continue to be transacted by real estate professionals,” says Bonnell.

“Technology will not replace real estate agents, but real estate agents who do not use technology effectively will be replaced by those who do. Many smaller companies can’t afford the technology, are afraid of it, or don’t want the responsibility of keeping abreast of the latest innovations.

Now is the time to make a move.”

She says the key reasons for

wanting to sell an existing brokerage or wanting to merge with another operation are: • the brokerage isn’t making enough money, or the margin is reducing • leadership struggles • teams are taking control of the brokerage • partnership or health issues “In my experience, the majority of the broker/owners facing these issues simply want to retire, or shift focus by staying on after their business is acquired and working in a different capacity,” says Bonnell. “They care about their people and want to ensure their agents and staff will be welltreated. Regardless of the size of the companies involved and whether they are acquiring or Continued on page 29

6 REM AUGUST 2018

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 because of its strong company culture, core values, commitment to delivering the best client experiences and forward-thinking approach to real estate – all values that we look forward to strengthening in Halifax’s current market.”

Harding holds an FRI designation and is a member of the REIC faculty.

■ ■ ■

Royal LePage Burloak Real Estate Services in Oakville, Ont. recently welcomed the independent team Whitehouse &

Whitehouse to the brokerage. The four members of Whitehouse & Whitehouse will maintain their identity and continue to offer “hands on, discreet and professional service,” says Fredene Plouffe, who heads up the team. Art Joyce, Leigh Anne Davidson and Mark Davidson serve as sales reps.

JoAnn Landry, broker-owner at Royal LePage Burloak Real Estate Services says, “Their professionalism and attention to client service is in lock-step with our brokerage values, so we anticipate much success for the Whitehouse & Whitehouse Team.”

■ ■ ■

Donna Harding and Sebastien Latulippe

Brian Odenbach

Cover photo: JOHN POKOCKY

■ ■ ■

Brian Odenbach, Azim Rahim and Justin Smith recently joined Royal LePage Westside in Vancouver. Michael Bertrand is the broker/owner.

Odenbach has been in the real estate business for a year and brings “positive young energy, to not just

list but to sell your property,” says managing broker Barbara Bell Olsen.

Smith was born and raised in Vancouver’s Westside community.

“I offer to each client both value and honest, factual knowledge of the neighbourhood,” he says.

Rahm joins the firm from Coldwell Banker Westburn Realty and has been in the business for three years.

■ ■ ■

Wilfred McIntee & Co. of Walkerton, Ont., has joined the Aventure Realty Network.

Founded in 1953, it is one of Ontario’s premier independent real estate brands, says Aventure president Bernie Vogt. Broker/owner Mike McIntee operates a network of 12 branch locations throughout mid-western Ontario and delivers a full suite of brokerage services including residential, commercial, vacation and farm properties.

“This addition to Aventure adds to a strong national referral platform and widens the reach of members into important new markets,” says Vogt. “Wilfred McIntee’s 65-year legacy of successful practice will be a great asset for Aventure members and add a great resource to the network.”

REM

Justin Smith

Azim Rahim

Wilfred McIntee

President & CEO WILLIAM MOLLS will@remonline.com

Editor JIM ADAIR jim@remonline.com

Director, Sales & Marketing AMANDA ROCK amanda@remonline.com

Production Coordinator JUDY CUPSKEY production@remonline.com

Brand Design SANDRA GOODER

Art Director LIZ MACKIN

Graphic Design SHAWN KELLY

Questions or comments? info@remonline.com

MLA Canada’s leadership team, from left: Cameron McNeill, executive director; Suzana Goncalves, chief advisory officer; Brittany Reimer, managing director; and Ryan Lalonde, president.

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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 2018 REM. All rights reserved. Reproduction in whole or in part without written permission from the publisher is prohibited. The opinions expressed in REM are not necessarily those of the publisher.

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E

ngel & Völkers recently opened its first real estate shop in Halifax, led by license partners Sebastien Latulippe and Donna Harding.

They have operated their own independent brokerage, Harding Real Estate, for eight years.

“Halifax is coming out of a market correction with significant development happening in the city core and all over the greater Halifax area,” says Latulippe. “We found our boutique approach at Harding Real Estate perfectly aligned with Engel & Völkers’

MLA Canada is opening a new office in Langley, B.C. this fall.

“The expansion is part of the company’s strategic vision for growth in Western Canada.

Our client base is increasing in the Fraser Valley along with significant interest from established Vancouver developers planning to enter into this active housing market,” says Cameron McNeill, executive director and partner of MLA Canada.

Brittany Reimer has been appointed as managing director of the new office. She will work alongside the company’s executive team for day-to-day operations.

Previously, Reimer held a senior leadership role with MLA Canada and consulted with developers.

“We will unveil a new office concept in the fall, which will bring an elevated experience for developers and homebuyers in the region,” says McNeill.

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.

pillartopost.com Each office independently owned and operated.

10 REM AUGUST 2018

Selling in Muskoka for 40 years

Founded by Iris Wallace in 1978, this independent firm continues the tradition of a pioneering family in Ontario’s most sought-after cottage real estate region. By Sohini Bhattacharya

O

“

ne day I wasn’t doing very well. I was feeling down.

Then my mom said to me, ‘you know Richard, you have a choice, you can be happy or unhappy. You’ve just got to grab the brass ring.’”

Richard Wallace never forgot the advice his mother, Iris Wallace, gave him when he was still a budding Realtor in his 20s back in the 1970s and he swears by it even today.

Now the retired patriarch of Richard Wallace Real Estate in Port Carling, Ont., he built a company “selling sunsets” and million-dollar cottages along the Muskoka shoreline. In a career spanning 45 years, he sold cottages on more than 40 miles of shoreline along Lake Rosseau and Lake Joseph – many of them several times over. At $10,000 a foot in the prevailing market, the mind boggles to imagine the entire value of real estate he has sold.

Founded by Iris Wallace, the firm is celebrating its 40th anniversary this year under the current co-ownership of Richard’s brother-in-law, Douglas Pain, and his 36-yearold son, Adam Wallace.

The Wallace name is not only synonymous to Muskoka’s real estate heritage, it’s one of the bricks that built Muskoka, and traces its oak-like roots back to the late 1800s.

Richard’s great-grandfather and grandfather came to Muskoka on land grants and settled in Port Carling and Minett in the 1890s.

At the time they intended to cultivate farming lands, but after reaching Muskoka and realising that most of their land was on water, they decided to make their living off the pristine lakes that dot Muskoka. “There wasn’t

any dirt, so they logged and did whatever it took to exist. They also built a Catholic church in Bracebridge,” says Richard.

The Wallace men (Richard’s grandfather, his father and his brother) built Viola M – a 36-foot cruise boat – in the early 1900s, which the family used to give tours to guests of resorts and hotels in the area. One of those resorts belonged to Douglas Pain’s father.

They worked 14-to 16-hour days, seven days a week, making much of their income from cottagers and hoteliers, says Richard.

Iris became a Toronto real estate professional in the 1960s.

Richard, 11, ventured into sales, selling bait, gas and maple syrup from their gas station. In 1972, he earned his real estate license and in short order his mother launched their company in 1978, adding cottages to the family’s business inventory. “When we had the gas station back then it was great, because someone would come in for a gallon of gas and then we’d sell them a piece of real estate, which we did many times,” says Richard.

He credits his mother for being the driving force of their real estate firm and imparting valuable ancestral knowledge of the land and its people. Based on his inherited knowledge of Muskoka, he (and his family) continue to build a “history of experience” and trust that their clients rely upon. “People come to us, because they know that we know what we’re doing. We know Muskoka. Same as Doug, we (Richard and Adam) inherited the knowledge and that’s easy to impart to our clients,” he says.

Pain’s forefathers arrived in Muskoka a year after Richard’s.

Like Richard, Pain worked alongside his and Richard’s father,

From left: Adam Wallace, Doug Pain and Richard Wallace. (Photo by John Pokocky)

inheriting local knowledge that one can only gather by working close to the Muskoka land and its marina.

Over the years, Richard has seen the real estate industry in Muskoka evolve in leaps and bounds. From competing with a dozen local salespeople in their area to more than 100 on their street, from selling homey cottages at $50,000 in the 1970s to selling luxurious cottages worth millions to celebrities today, he and his team have done it all.

The threads that tie their myriad experiences together is that of honesty toward their clientele and an intrinsic understanding of people and relationships – skills that aren’t taught in real estate school. Coupled with their multi-generational knowhow of Muskoka, the brokerage has withstood the challenges of selling in cottage country.

“Every property out here is different. The land’s different.

In the city, the house or the

building may be different, but the land’s exactly the same,” says Pain. “Selling cottages in Muskoka is weatherdetermined, and very different from selling property in the city,” adds Adam Wallace.

Despite having combined selling experience of over 40 years, Pain and Adam turn to Richard for advice on patience and people skills – critical real estate tools. “Richard is very patient and great with people.

He’s very likeable,” says Pain.

“Some years can be tough.

You’re not selling chocolate bars,” says Richard. He remembers a year when he sold two properties to two clients, both of whom he’d nurtured for eight years. “It’s not just about the money. You have to be patient. We’re selling a Muskoka lifestyle. If you want to come here, you must want the lifestyle and have the affordability for it,” he says.

Indeed, those who cottage

in Muskoka can afford to cottage anywhere else in the world, says Adam, and yet they chose Muskoka and defer to Richard Wallace Real Estates’ established expertise in the matter. “When you’re dealing with such influential people, you have to be real. You can’t fake it because these people will pick up on that falsehood,” says Richard.

Even after retirement as the broker of record, Richard still comes into his corner office at 111-1 Medora St. in downtown Port Carling and works as a broker, seven days a week.

He believes that Pain and Adam’s leadership represents old-fashioned values that are bolstered with new-age tools – a rare character that’s preparing the firm its fourth generation, in an increasingly competitive cottage market.

“The key to success is survival.

You have to grab the brass rings,” says Richard. REM

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You have to think like a builder and developer, not a pirate. Or

just a salesman. You have to think like a guy who owns 50 Subway shops or the whole company, not the guy who owns one, or the guy behind the counter making the sandwiches. If you do, what I’ll share with you at my upcoming Discovery Day will make sense to you. If you don’t, it will scare you or annoy you or be incomprehensible to you.

2. You have to intend to get and stay RICH in this business. Most agents are content making a living, hanging around the office and drinking coffee like Norm hung around ‘Cheers’, forever making excuses to themselves and their families, forever waiting for the market to go back to its peak a year ago. If these agents do four, five, maybe ten deals in a year, they are good to go for another year. Lots of folks who speak “ambition” are really just hanging out. This isn’t for those folks. This is for the agent with mid-6-figures to 7-figures on his or her mind AND determined to earn it without selling soul to soul-numbing activities like sitting on the WishChair all afternoon at open houses, doing listing presentations for prospects also having 4 more agents “audition”, playing tour guide, pushing business cards on people at cocktail parties, even – ugh! – cold-calling FSBO’s and others.

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

Billionaire Agent and Millionaire Agent-Maker, Craig Proctor firsthand experience I’ll share with you …. even though it’s embarrassing. So, most agents, even most successful agents COMPLAIN. They all have the same gripes. They all keep doing the things that “lock in” those gripes.

3. You have to be able to focus and employ selfdiscipline, to stick with a winning plan once you get one. There’s no point in wasting your time or mine if you have the attention span of a ferret drinking Starbucks, the self-control of Donald Trump, and the selfdiscipline of a puppy. Warren Buffet has not changed his investment selection system one iota in at least 20 years. He was never seduced by tech and dot. com bubbles, never tempted by a quick buck. Disney has gone through two CEO’s since Walt.

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

ADHERENCE TO SYSTEM makes you crazy-rich. Flitting about has you starting over, over and over and over again.

Okay, so, do you think you would value and could stick with a complete and ‘no stone unturned’, proven, up-to-date but not fad-ish, extremely productive system if you got one?

If so, investigate, explore, learn. And do that by attending my upcoming free half day Discovery Day. You’ll find all the details you need to attend at www.ProctorSuccessSecrets.com.

Go there now. This is serious.

Learn How the Bad Canadian Real Estate Market Could Make You a Crazy-Rich Agent at My Upcoming Free Craig Proctor Discovery Day More Information or Register at:

www.ProctorSuccessSecrets.com

12 REM AUGUST 2018

Beware the HST rebate rules Are you buying a new home with someone else? Don’t get caught by the HST rebate ineligibility rules!

By Martin Rumack

A

re you buying a new home or condominium unit with another person?

If so, there is an interesting and probably little-known rule about the HST New Housing Rebate that may surprise you – and more importantly may disqualify you from obtaining the rebate entirely.

The HST New Housing Rebate provides eligible buyers of a qualifying new home or condo with a rebate of a portion of the HST paid on the purchase price. In a nutshell, the rebate works like this: • Newly constructed homes are subject to the federal HST (unlike resale homes, which are exempt).

• New home buyers can apply for a rebate amounting to 36 per cent of the federal portion of the

HST that applies to the purchase price of a home costing $350,000 or less, to a maximum of $6,300.

That rebate amount on the federal portion of the HST, for homes priced between $350,000 and $450,000, is reduced proportionately, while new homes priced at $450,000 or higher do not qualify at all.

• As for the provincial portion of the HST levied on the purchase price, new home buyers in Ontario can apply for a rebate amount to 75 per cent of that tax, to a maximum of $24,000.

The HST New Housing Rebate is established under s. 254 of the Excise Tax Act. To qualify, purchasers must meet certain criteria pertaining to the nature of the home purchased, and also must meet eligibility requirements.

The act in section 254(2) refers repeatedly to the “particular individual” who becomes liable for the

HST under the agreement of purchase and sale with the builder.

That particular individual must be “acquiring the complex or unit for use as the primary place of residence of the particular individual or a relation of the particular individual.” A different provision, in section 262(3) of the act, adds that where a supply of a single-unit residential complex is made to two or more individuals, the reference in section 254 to a “particular individual” is essentially plural and refers to all of these individuals as a group.

The interplay between these definitions and the requirements around the intent to occupy the new home was the focus of the Tax Court of Canada’s analysis in a case called Davidson v. The Queen, 2002 CanLII 872 (TCC).

The case featured a deal involving the purchase of a new duplex containing two residential units by

two people, a man and a woman.

Although title to the property was taken jointly, the woman was added only to satisfy the lender on a mortgage (she was not a beneficial owner).

When it came time to claim the HST New Housing Rebate on the tax they had paid on the purchase price, the pair were told that they were ineligible.

It was true that the property and the mortgage had been registered as showing joint ownership. It was also true that the man had purchased and occupied the unit as his principal place of residence. But because the rebate provisions in section 254 refer to a “particular individual”, and because section 262(3) says this means all individuals in a group, this means that both the man and the woman had to satisfy the conditions relating to an intention to acquire the home for use as a primary place of residence.

The man had done so, but the woman had not, since she was added to the deal for mortgagerelated reasons only. She never intended to live in the unit herself.

In light of that missing intention on the woman’s part, the court held that unfortunately the situation was caught by the wording of the act. It was up to the legislature – not the courts – to “patch the holes,” the Tax Court explained.

This is an important stipulation to know about when buying a new home or condominium unit jointly with another. The presence (or absence) of intent by each person to make the home their primary place of residence could be the simple, make-or-break factor on whether they qualify for the HST rebate.

Toronto lawyer Martin Rumack’s practice areas include real estate law, corporate and commercial law, wills, estates, powers of attorney, family law and civil litigation. He is co-author of Legal Responsibilities of Real Estate Agents, 4th Edition, available at the TREB bookstore and at https://store.lexisnexis.ca/en. Visit martinrumack.com REM

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With 100 education sessions, covering the latest industry trends, demos of the hottest technologies from over 400 exhibitors and networking opportunities with 20,000 of the industry’s most successful real estate pros, the REALTORS® Conference & Expo is definitely a winning opportunity.

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14 REM AUGUST 2018

THE GUEST COLUMN

In 5 years, you won’t recognize this industry

The choices you make today can spur Canadian innovation and delight consumers.

By Phil Soper

T

he pace of change we live with can be mind numbing, yet things will never move this slowly again.

Technological innovation is often the catalyst, yet the reason the future is so hard to predict is that it is heavily influenced by changes in global politics and shifting consumer demands. Let me begin by stating that sustained success in business comes from acting with the client’s interests in mind.

Period. Your personal needs will be satisfied in due course.

We in Canadian real estate have flourished for many years by building an industry infrastructure that services consumers like no place on earth. Through our remarkable, nationwide listing management system, anchored by Realtor.ca, homebuyers and sellers are able to see virtually all listings in the country. And this may come

as a surprise to many – Canadians pay much less for brokerage services than American consumers.

Realtor.ca is a trusted service provided to consumers by the nation’s real estate professionals.

Today there is no equivalent in America. Our unique advantages go further. In Canada, national brands invest millions to build highly advanced websites such as royallepage.ca and we share our listings with each other. When a consumer is house-hunting, do they really care which company has the listing? No! Go to a national brand site south of the border and you see only that company’s listings. It is no wonder that third-party, non-Realtor websites dominate America.

In addition to serving Canadian consumers, realtor.ca and national brand sites attract hundreds of thousands of international homebuyers each year. Nine per cent of realtor.ca traffic comes from outside the country and half are U.S. residents. If our American cousins want to invest in a pristine recreational property to escape the

craziness that has enveloped their land, they are well-served too!

We know from experience that choice is a good thing.

Competition keeps us sharp and spurs us to improve and innovate.

In my company, we acquire technology and services from around the world in order to grow and prosper. Still, you have to be a smart shopper to succeed in business. I would advise Realtors to be cautious when considering offers that appear too good to be true. As my dad once told me when I begged for help to buy a car, “a toogood-to-be-true opportunity is just that, Phil. Too good to be true.”

Let’s examine the plans of the American online advertising company, Zillow, which has announced that they intend to enter the Canadian market. If Canadian Realtors are willing to give their listings to Zillow, the company promises to advertise the properties to Americans for free on their site, potentially creating leads. Our research leads us to believe that while step one appears “free” (assuming that hard-won listing of

yours that you are about to give away has no value, which of course is absurd), there is a cash-cost to the agent in order to extract real value.

Like the “free app” you download to your phone that immediately asks for your credit card in order to access the truly useful features, we assume that once Zillow is up and running, Canadian agents will be paying for leads. Zillow.com amassed US$761 million in revenue from the sale of online leads to U.S. agents last year.

Spending on an advertising service like this would be fine if Canadian agents needed Zillow to ensure that consumers saw their listings. If your company is doing their job, they don’t.

I began by explaining how different the American situation was.

U.S. Realtors made terrible blunders in the early days of online commerce and have been paying for it ever since. They are trying to fix the long-standing flaws and may finally be succeeding.

Brokerages and national Realtor companies recently launched the

Broker finds her niche with WomenUP B

roker Tawnya Gvoich has created a new endeavour: WomenUP Real Estate, a one-stop solution for women who prefer to buy and sell real estate with the help of a professional female Realtor in their community.

Gvoich, of Red Brick Real Estate Brokerage in Guelph, Ont., has been in real estate for about five years. She got her broker’s licence a year ago.

“I always wanted to specialize in something but could never quite put my finger on what,” she says.

However late last year, she noticed a trend. More women were setting a new standard: they were building each other up.

Gvoich decided to create a program that targets women in her community by offering them a premium service that is more “experi-

ential than transactional,” one that helps them feel more comfortable and helps them to enjoy their buying and selling experience. “Our interests include uplifting women, empowering women and supporting women in business and in real estate, which is where the name WomenUP came from.”

Ideal for anyone who has ever felt pushed aside, treated like a number rather than a person or been made to feel less than knowledgeable about real estate, WomenUP strives to offer top-level service in a comfortable, helpful and non-judgemental way.

Gvoich also recently created an annual award, the WomenUP Scholarship, through the University of Guelph She’s Got Game program. The program was created by the university’s

Tawnya Gvoich

Department of Athletics to engage women of all ages in sport and help facilitate the tools to succeed in both life and sport, she says.

WomenUP works with everyone from first-time buyers to seasoned veterans. In addition to help-

ing buyers and sellers of resale housing, the broker can also help clients buy new homes or those who need help with staging.

The new venture serves Guelph, Eramosa, Puslinch, Kitchener-Waterloo, Milton and the surrounding area.

“It’s unlike anything that’s been done before especially in our area.

We’ve gained a lot of traction on social media already and the response has been favourable,” Gvoich says.

She spent the last year creating a polished website (www.womenuprealestate.com) and a professional commercial about the WomenUP concept for the site.

“We’re getting good feedback.”

Now the goal is to spread the word and gain traction. – Connie Adair REM

Broker Public Portal, known to consumers as Homesnap.com. It offers consumers comprehensive, real-time MLS data from those who list and sell homes, not ads. In other words, the Canadian experience. Already some 900,000 American Realtors are using the system. We wish them well.

Some of your colleagues may choose to experiment with thirdparty listings aggregators such as Zillow. If they have their broker’s permission, that is their choice.

But is it a sound business decision?

I suggest you ask yourself, do I want to deal with the consultant who asks to borrow my watch, and then charges me to tell the time?

Here’s where I believe we in the real estate industry can offer Canadian consumers the best possible value: • Double down on innovation.

CREA needs to step up and drive realtor.ca to the next level. And companies like us that operate the major Realtor portals like royallepage.ca need to embrace the challenge and get the job done.

We need to introduce home valuation technology; to leverage artificial intelligence and data analytics; and build recommendation engines to help families find their ideal home. Plans are in place.

• Subscribe to CREA’s DDF (data distribution facility) via the RealtorLink website or your local board site. It’s easy to do and a significant contribution to our industry’s success.

• Embrace Realtor reciprocity.

It makes clients happy! Most brokerages are already co-operatively sharing listings. If your brokerage is not, it is time to participate in CREA’s DDF National Shared Pool and National Franchisor Pool.

Realtor.ca, working in tandem with Realtor company websites, are a unique Canadian success story. There will be no need to spend millions on third-party advertising services if we are doing our jobs. Let’s do our jobs.

Phil Soper is president and CEO of Royal LePage – Brookfield Real Estate Services Inc. in Toronto.

REM

RE/MAX Canada | Canada’s #1

RE/MAX Promotions, Inc. [CA]

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Each RE/MAX office is independently owned and operated. This advertisement is not intended as an offer to sell, or the solicitation of an offer to buy, a franchise. It is for informational purposes only. If you own a franchise affiliated with another organization, this advertisement is not intended to offer a RE/MAX franchise or to solicit a change in your affiliation. RE/MAX LLC Internal Data 2018.

That’s the sign of a RE/MAX agent.

RE/MAX Canada | Canada’s #1

RE/MAX Promotions, Inc. [CA]

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Over 200,000 Residential Listings Across Canada Search Any Neighbourhoods, City or Listing ID Search Listings Near Me

Real Estate & Homes for Sale

Canada’s #1 branded real estate website just got better.

Each RE/MAX office is independently owned and operated. This advertisement is not intended as an offer to sell, or the solicitation of an offer to buy, a franchise. It is for informational purposes only. If you own a franchise affiliated with another organization, this advertisement is not intended to offer a RE/MAX franchise or to solicit a change in your affiliation. RE/MAX LLC Internal Data 2018.

That’s the sign of a RE/MAX agent.

18 REM AUGUST 2018

Will Zillow’s arrival in Canada disrupt the real estate industry?

By Christopher Alexander

U

.S. real estate listing website Zillow has arrived north of the border.

Zillow broke the news with the announcement of its partnership with a well-known real estate brand in Canada that will directly feed listings to the site.

This has long been a source of concern throughout the real estate industry for a few reasons. But first, a little background.

How did Zillow come to be? Its widespread appeal in the U.S.

began with a fragmented MLS system. The idea was to streamline every property listing into one easy-to-access platform. Today, Zillow’s living database merges more than 110 million listings from over 625 MLS feeds in the U.S. By adding Canadian listings into the mix, Zillow will widen the pool of potential homebuyers – and leads for agents.

However, unlike our neighbours to the south, Canada already has a unified MLS system in Realtor.ca, which displays almost every residential listing.

Part of the perceived problem is that Zillow’s listings include soldprice details, among other personal data that the Toronto Real Estate

Board maintains must be kept private. The matter is currently before the Supreme Court, in the board’s attempt to secure its position.

Beyond the data dilemma, part of Zillow’s modus operandi involves taking listing feeds from real estate companies and selling leads back to Realtors. That is the real underlying reason behind the industry’s apprehension.

With publicized sold data and Zillow’s high-tech toolkit, is it possible that it will disrupt the real estate industry as we know it?

Might agents actually abandon their brokerages and their brands?

Could this be the start of the For Sale By Owner (FSBO) era? It’s unlikely.

The video outlines the many benefits of the CPM program and the perks of becoming an REIC member. To view the video, visit https://www.youtube.com/watch?v =eu-WTll-lJ0 ■ ■ ■

T

he FIABCI 69th World Congress, under the patronage of Sheikh Mohammed Bin Rashid Al Maktoum, the United Arab Emirates vice-president, prime minister and ruler of Dubai, took place recently in Dubai. The theme “Happy Cities” built on four main pillars: planning, governance and policy; citizen engagement; new marketplaces; and their intrinsic relationship with the real estate community.

Led by Edmonton-based chapter president Rick Linklater, the Canadian delegation included Carlos Sousa, Margaret Liu, Maria Belkoleva and Aziz Kanjee, Americas Region secretary-general, as well as Toronto Real Estate Board president Garry Bhaura.

The delegation was active discussing Canadian real estate with developers, architects, investors, government officials, managers and Realtor members of the National

Association of Realtors from around the world.

Productive meetings were also held with representatives from the Saudi National Committee for Real Estate with a view to visiting Canada this fall. Representatives of the Dubai government expressed interest in an official familiarization visit in the near future.

The 70th World Congress will be held in Moscow next year.

■ ■ ■

The Real Estate Institute of Canada (REIC) recently unveiled a new promotional video for the Certified Property Manager (CPM) designation. The designation originated from the Institute of Real Estate Management (IREM) and is delivered to Canadian professionals through REIC. In the 60-second animated video, REIC reaches out to budding property and asset management professionals of any property type.

The truth is, 12 years since the birth of Zillow, FSBO transactions in the U.S. are at an all-time low.

In Canada, DIY home sales became more common – and feasible – in 2017, at the peak of the real estate roller coaster when bidding wars erupted before the For Sale sign was up on the lawn. But what goes up eventually comes down again – and in this more challenging market, real estate agents will continue to provide essential expertise and value to consumers.

Canadian agents don’t need Zillow to promote their listings to foreign buyers. Anyone south of the border and beyond who is searching for Canadian properties Thorvaldson, vice president, Manitoba; Jan Wicherek, vice president, P. E.I.; Rick Colbourne, past president, Ontario; and Keith Lancastle, CEO, non-voting member.

Members of the Board of Directors include: Michael Kirkland, Newfoundland/Labrador; Adam Dickinson, New Brunswick; Georges Semine, Quebec; Suzanne de Jong, Ontario; Edward Saxe, Ontario; Brad Brewster, Alberta; Ernie Paustian, Alberta; Dan Jones, B.C.; and Craig Barnsley, B.C. Several awards were also presented during the 2018 AIC confer-

will find them on Realtor.ca and remax.ca.

Ultimately, Zillow has not changed the basics of the business.

It still takes market knowledge, smart strategies and good old-fashioned hustle to convert leads.

In spite of the success of Canada’s existing property listing platforms, there’s always room for improvement. Real estate is a highly competitive industry by nature. Agents will need to step up their game to stay ahead. In my opinion, the good ones are already doing that every day.

Christopher Alexander is regional director/EVP of Re/Max Integra, Ontario-Atlantic Canada. REM ence. The AIC’s highest honour, the Fellow, was awarded to three AIC designated members who have emulated AIC’s values and integrity in every facet of their career. This year’s recipients are Richard Colbourne, Michel Colgan and Raymond Bower.

President’s Citations were awarded to several of AIC’s longstanding volunteers and staff: Dan Brewer, Deana Halladay, Mike Schulkowsky, Sheila Roy and Shelley Poirier.

Top Appraiser Under 40 awards were presented to Simon Chin and Alison McGavigan. REM

The Appraisal Institute of Canada (AIC) elected Peter McLean of Peterborough, Ont. as AIC’s national president for 2018/2019.

McLean first joined AIC in 1990 and received his AACI designation in 2001. He was a former regional director for the Ontario Association after serving as chair for three terms. While serving on the Ontario Association Board, he was president for two years. He continues to be involved with the national body of AIC as a board examiner and on various other committees.

“I am honored to be the new AIC president – especially as we Attending the FIABCI congress in enter into its 80th anniversary as Dubai, from left: Carlos Sousa, Rick the preeminent professional valua- Linklater and Aziz Kanjee. tion association in Canada. I plan to continue to build on its proud history and reputation as the appraisal professionals of choice within Canada.”

Joining McLean on the AIC Executive Committee are: Thomas Fox, presidentelect, Saskatchewan; Darrell

Peter McLean

The AIC 2018 Board of Directors

For us, real estate isn’t work ... it’s our passion.

That’s why we don’t operate in offices, but in our signature shop locations.

Whether in Toronto, Ottawa, Newport Beach, Barcelona or Brussels, you’ll recognize an Engel & Völkers shop when you see one. White façades and large windows are designed to showcase beautiful real estate exposés and draw visitors in as they dream and explore the idea of a new home. On streets around the world, our shops are an expression of our passion for real estate and a shared commitment to support our real estate advisors to provide premium service to their clients at every price point.

We invite you to drop in, browse and see what a future at Engel & Völkers might hold for you.

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

©2018 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.

20 REM AUGUST 2018

Not all successful salespeople make great employers

By Aiman Attar

B

eing great at sales and giving exceptional service to customers doesn’t necessarily translate into someone being a great leader and manager.

I recently worked with a Realtor for seven months to hire an office manager for her team. Let me say that again: SEVEN MONTHS! I presented her with some of the industry’s best office managers, both licensed and unlicensed. What I experienced in that time and what the candidates were put through during this period was completely unprofessional and I was shocked that this was coming from someone who is renowned in her industry.

From this incident, I have come up with three recruiting warnings you should heed.

A good manager is someone who has a great handle on her business: Someone who continually can’t take your call, can’t return your calls, can’t answer emails or text messages, is someone you should be wary of. In short, the

manager who continually drops the ball on communication during the “courtship� phase of your business relationship is demonstrating that this is a normal business practice for her. There are always excuses: high-peak season, understaffed, being sick, client emergencies and so on. But they are just that: excuses.

Once in awhile, we all have an emergency but when it is a weekly or even daily occurrence, you must wonder as to the individual’s time management skills. We all must deal with managing our schedules, but professionalism dictates that we control our schedule: it doesn’t control us.

During the seven months working with this Realtor, I saw my messages go unreturned, candidate interviews being missed at the last minute, candidates dragged on for months and never hired and so on.

Getting post interview feedback from her was like pulling teeth.

Business relationships don’t have to be this difficult, and if they are,

it’s time to end them.

The recruitment process is a great opportunity to see someone’s mental organization, decision making and thinking process: A business leader, salesperson or manager needs mental clarity. They must come to the table with a clear job description and straightforward expectations of what they will give and what they expect.

This Realtor was going at it the wrong way. She was trying to create a job description to fit a candidate that she liked, rather than being clear on her needs first and then looking for the right fit. She was constantly changing the requirements to make it suitable for someone she liked, on a personal level.

While a certain degree of personality compatibility is required when you are going to work closely with someone, some of the candidates she liked didn’t make a good hire on a skills basis.

However, she preferred to adjust

her business rather than invest the time in finding the right fit, both in skills and personality. This left the candidates and I feeling lost, confused, frustrated and disappointed, time and time again.

Leadership that is chaotic will breed an environment where even the most successful candidates from other teams will fail.

The rule in recruitment is hire slow and fire fast: Unfortunately, this was clearly not the Realtor’s methodology at all. Her recruitment process dragged on for so long because she was unable to decide. It left candidates feeling put off. Most people would prefer to be rejected than remain in limbo.

Hire slow means interviewing the same candidate two to three times, putting them through some testing, all within a two to threeweek period, and then making a decision. To drag candidates along for months, never making time for thorough interviews, and instead relying on nothing more than a

casual chat, is not a solid basis for hiring. Never making time for testing or proper reference checks are indications that there will be no time downstream for training, support or ensuring the work is done effectively.

Clarifying your needs before you hire is key for a successful and beneficial hiring process that gets the staff you need in place efficiently. If you’re not sure who you are looking for, you won’t even begin to be able to manage them effectively. So, start there and finish with a happy team.

The former owner of Imaginahome Inc. and former Realtor at Re/Max, Aiman Attar is the managing partner of The Real Estate Recruiter. He has worked in the real estate industry for over 10 years with Toronto’s finest, most accomplished Realtors. He decided to dedicate his talent and experience to helping you hire the best candidates to build your business. Email Aiman@agentc.com

2018 INSURANCE RENEWAL Payment is due by August 17, 2018.

The total cost of professional liability coverage, including taxes and expenses is $445 for the 2018–2019 policy period.

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

For frequently asked questions about this insurance renewal, visit www.reco.on.ca/2018renewal

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

What if I don’t pay on time?

If you don’t make your insurance payment by the August 17 deadline, you will become part of the suspension process.

The total insurance payment after the due date of August 17 is $480. Failing to make an insurance payment results in the suspension of your registration and the right to trade in real estate effective September 1, 2018.

CONTACT RECO AT: https://myweb.reco.on.ca P: 416-207-4800 TF: 1-800-245-6910 F: 416-207-4820 insurance@reco.on.ca

What if I’m leaving the business?

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

You can ask your broker of record to terminate your registration on MyWeb before the due date of August 17.

REM

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22 REM AUGUST 2018

Tracy Niu mastersVancouver’s volatile market

Niu and her team sometimes have 70 listings on the go at once and they sold more than 250 properties in 2017. By Susan Doran

T

racy Niu immigrated to Vancouver from China 18 years ago with “no idea what to expect.”

Upon arrival in Canada, Niu got a job as a travel agent and tour guide. She had done that back in her home city of Qingdao (base of the well-known Tsingtao beer brewery), but now wanted to try something different. Having earned a Bachelor of Commerce degree in China, she soon wound up becoming a financial advisor in Vancouver with the Royal Bank.

“I met a lot of Chinese clients who recommended I get my real estate license,” she says.

“They kept telling me we need Chinese Realtors who speak the language.” (Niu speaks Mandarin, Cantonese and English.)

“They pestered me,” she says, laughing.

Niu increasingly grew to like to the idea of a career in real estate. With both a father and a brother who worked as architects, she had always been interested in building and design. And it didn’t hurt that the Vancouver real estate market was smoking hot at the time.

Niu figured she might as well go for it. And go for it she did, with a vengeance.

Real estate turned out to be a great fit. She got her license seven years ago and since then has become a force to be reckoned with in Metro Vancouver’s residential real estate market. She’s a consistent top producer and the leader of the 20-member Tracy Niu Real Estate Group team, which sold more than 250 properties in 2017 (not including presales) and is ranked among the

top in the city.

Niu says that the team’s target market is largely Asian buyers and sellers, and that most of its clients are repeat referrals.

Recently she and the team joined Royal Pacific Realty Group’s Kingsway office in East Vancouver. Niu says she struggled with the decision to leave her previous brokerage, New Coast Realty.

“They’re still a good company. They helped me a lot,” she says. “But there was a lot of negative news about New Coast. Many clients said I should leave because reputation is important.”

While at New Coast, Niu found herself the target of allegations by a competing agent of not representing a client’s best interests. The allegations appeared in a Globe and Mail article about New Coast and some allegedly questionable practices. Both Niu and New Coast denied the allegations in a written response to the Globe article and said the listing and sales contracts and history support their version of events.

Other agents at the brokerage have recently been reprimanded and fined by the Real Estate Council of B.C. The controversy surrounding New Coast may have been at least partially responsible for the push for higher standards and tougher penalties in British Columbia that resulted in the recent overhaul of industry rules and practices and the package of new consumer protections that came into effect in June.

They include the prohibition of dual agency (double ending) except in limited circumstances, as well as increased transparency around commissions and who

a real estate professional is representing in a transaction.

Niu is in favour of the changes.

“It’s difficult for one Realtor to protect both sides,” she says. “I am happy to see our government taking steps forward to build a healthier industry.

The unethical behaviour of a few individuals can have a drastic impact on the overall image of Realtors.”

Vancouver’s real estate industry has long been under intense scrutiny due to tensions stemming from issues such as out-of-control prices, blatantly unethical practises and flipping by speculators.

The widely held belief that foreign buyers are driving up prices has created resentment in some circles. Asked if she ever encounters racism in her business dealings, Niu and her business partner, Allen Wang, say that thankfully they have not.

“We believe that professionalism and diligence will overcome biases,” Wang says. “There is a significant difference between ‘foreign buyers’ and Canadian residents/ citizens with different ethnicity.

The majority of real estate transactions in Vancouver are done by Canadian residents/ citizens. In my opinion and Tracy’s, the reason why prices have been going up is not one dimensional – there are many factors. I believe the cause is fundamental – too much demand (not just from foreign buyers) and not enough supply.”

With her team, Niu hosts as many as 20 open houses each week and often has more than 70 listings at any given time, with a record 78 listings at once.

Tracy Niu

“Because I have so many listings, sometimes potential clients and other Realtors see all my signs in a neighbourhood and phone and ask if I’m a real person or a robot!” says Niu. “I’m a very hard worker. I thrive on challenge and I have a lot of perseverance.”

She notes that those are key attributes for agents in Vancouver’s complex market.

Being willing to leave your comfort zone is also important, she adds.

“Believe in yourself and have courage. I was willing to take a risk and step into the unknown when I left a career in banking.”

Although there is “still a lot of demand,” the Vancouver market is currently in a slowdown, she says. She attributes this to the impact of tougher mortgage qualifications and various government regulations and taxes, including “the foreign entity tax and the new property transfer tax calculation.”

She advises new agents to “care less about the immediate results – work hard, be disciplined and be patient.

“You’re going to have deals go sideways. You’re going to have difficult clients. It’s a learning experience. Thrive on it.” REM

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24 REM AUGUST 2018

Real Estate Technology M

cGill Real Estate in Montreal recently introduced a new way to sell condominiums by using a largescreen immersive experience to show projects that have yet to break ground.

The system allows clients viewing a large screen at a sales centre to see exactly what their yet-to-bebuilt condo will look like without having to wear isolating virtual reality goggles or headsets. Clients can visit every room in each condo unit and all the common spaces in the building.

“It’s a much more interactive, flexible way to present (to) the client what their future home will look like,” says Debby Doktorczyk, co-owner and president of McGill Real Estate. She and partner

Patrice Groleau are also the owners of the Engel & Völkers shop in Montreal.

“We think we’ll reach more clients – people who were uncertain about buying from plans,” Doktorczyk says.

McGill Real Estate is using the system to sell Charlotte Condos Société, a new 243-unit condo development along the Lachine Canal in Griffintown, near downtown Montreal. Construction of Charlotte should begin late this year or early next year with the project completed in 2020.

Developed by Montrealbased Immersive Design Studios, the interactive software system, known as Canvas, combines the interactive and immersive environment of 3D gaming for real

Headset-free VR experience helps sell condos

By Danny Kucharsky

estate sales applications.

McGill has exclusive use of the system in Quebec for its developer clients.

“You can continue to talk to the client,” Doktorczyk says. “It removes the mask that we had before” with VR, in which only one person at a time could have an immersive experience.

Instead, 15 people together in a room at the Charlotte sales centre can watch what their potential condo looks like at the same time.

“Everyone has the same reaction – it’s wow,” Doktorczyk says.

Potential buyers can move freely around throughout the condo, all at a touch of a button on a tablet. Clients can also visualize different finishing options (such as kitchen cabinets and counters and flooring) and have PDFs of their choices emailed to them.

The immersive system is “not necessary” in order to sell condos,

Doktorczyk says, “but it’s so amazing, why would we not want to have it?” She believes it will enable brokers to sell to people who could not previously visualize what their unfinished units would look like, she says.

While some potential buyers want to see the finished product and not floor plans, in the hot Montreal market projects are selling out before they’re completed, so these buyers miss out. “I believe it’s also going to attract younger clients who want to have something funky and new,” she adds.

The technology uses 4K resolution and the sound, images, smoothness and the overall experience is cohesive, says Thomas Soetens, CEO and co-founder of Immersive Design Studios. “It doesn’t feel like you’re operating technology. That’s really important when you do a sale. You do not want to be struggling with features

or over-convoluted technology.”

The technology is user friendly and brokers can learn to manipulate the tablet that controls the systems in an hour or two or just use the auto pilot function.

Drones were used to capture images of the city skyline and surrounding views of the condo development. A competitor’s planned condo development nearby was also included to add to the realism, as were sounds of birds and street noise.

The Charlotte project is using a small 16-foot version of the screen but 20, 25 and 40-foot screens are also available.

The system is not available online and is meant to be used as a sales tool in sales centres, with brokers providing complementary information to potential buyers.

When you’re in a dark screening room, “you really feel like you’re inside the project,” Doktorczyk says. It’s an experience that can’t be equalled on an iPad. “The purpose is to take the pain out of the real estate visit and to make it a pleasurable experience that is comparable to anything that good entertainment would bring you,” says Soetens. “It should be fun to do this. It should not be a drag to see your future apartment.”

Doktorczyk would not divulge the cost for the system but said it is not high and replaces other marketing tools, such as visuals made by graphic designers.

Immersive Design Studios is using the system for the $3-billion One Vanderbilt, next to Grand Central Station, which is the biggest office tower currently under construction in New York City. It’s also being used at a residential real estate project in Mumbai, India as well as at the Bell Centre in Montreal.

Soetens is bringing the system to developers in Toronto and Vancouver and hopes it may become an industry standard in a few years. “In Vancouver, we see (developers) spend between $2 million and $7 million on a sales centre,” he says. “We’re not even close to that. “So, it’s attractive to them.”

REM

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Toronto Agent g Grows His Business byy 460% to $2.8 Million GCI within 5 Years: What He Knows That You Don’t 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.

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What you have instead is a “job”, and for many, it’s a really bad job: one that consumes your time, keeps you away from friends and family, and doesn’t pay enough. Even though you work so hard, it’s just so random. Some days you win.

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The fact is that agents leave our industry in droves, not because they’re not great at working with clients, but rather because they don’t have enough clients to work with. 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.

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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.

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by Lino Arci ( augh (V g an,, ON))

“W joiinedd th “We the Crai C ig Proctor Coaching system about 4 years ago. At the time, including my wife and I, we were a team of 6. W Wee we were re sel elli lliling ng 90 90-10 1000 10 homes per year and were looking for some direction to get to the next level.

We aatttten ende dedd Cr Crai aigg Proc Pr octo tor’ rs Even Ev entt in Anaheim and realized that we wanted to get involved in Craig’s coaching system in order to increase our salles,, goalls andd iinccom omee forr the team. Since joining, we have not looked back.

“Today, we’ve grown to 7 agents, one full time ISA, a Sales Manager who keeps thee ag th agen ents ts acc accou ount ntab able le, a full-time administrator and a full time marketing/social media person. We are in the process of adding a seco se cond co nd IISA SA ttoo th thee Te Team am.. am “We were selling about 100 homes per year and have grown to 200+ Sales and from $1,000,000 Gross

Commis Comm issi sion on ttoo $2.88 M Milillilion on Gros Gr osss Co Comm mmis issi sion on. We are on track this year to

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“Our commissions have gone from $500,000 before using this System to $2.8 Million in 2017. This is business growth of 460% in 5 years.” sign 200 Listing Contracts andd ac an achi hiev hi evee ou ourr Sal Sales les goal of 300 Transactions.

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Top 100 RE/MAX teams in Canadda Cana da for for th the he pas pastt 5 ye year arss, and in 2017, we reached #28 RE/MAX team in Canada and #65 Worldwide.

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26 REM AUGUST 2018

Nettie Hendricks is Calgary’s Realtor of the Year Nettie Hendricks, a sales rep with Century 21 Summit Realty, was recently awarded the 2018 Calgary Real Estate Board (CREB) Realtor of the Year – TWH Saunders Memorial Award for her outstanding contribution to the real estate industry.

“Nettie exemplifies the values of this award,” says Karalee FoatBarrett, broker and owner of Century 21 Summit Realty in Calgary. “Her contribution to the community, her dedication to real estate and our brokerage speaks to her character. In numerous letters of recommendation for the award, her clients noted that she was not only their real estate professional but also a friend. She is modest and I have been blessed to witness her generous contribution to the lives of others.”

Hendricks is known for her philanthropy and compassion for others in and outside the office.

“When we seize opportunities to help others, we inadvertently are creating a role model of ourselves, which then becomes a beacon of hope and direction for others,” she says.

ing service and devotion to local communities. The Community Service Awards went to: Jennifer Burton, Royal LePage Estate Realty; Andrew Ipekian, Keller Williams Referred Urban Realty; Javaid Ali Khan, HomeLife/ Bayview Realty; Maria Natale, Royal LePage Porritt Real Estate; Liz Porritt, Royal LePage Porritt Real Estate; and Paul Swartz, Sutton Group Old Mill Realty.

Canadians honoured on Coldwell Banker 30 Under 30 list Two Canadians made the Coldwell Banker global organization’s annual list of top affiliated real estate professionals under the age of 30 who have achieved success in sales, philanthropy and leadership.

Mike Bolger of Coldwell Banker Peter Benninger Realty

in Kitchener, Ont. obtained his real estate license in 2014 and in his own words, “I haven’t looked back since!” His marketing approach includes free Smart Home upgrades and free home staging and interior design consultations. He is active in community service, volunteering at the St. Vincent De Paul Society, Habitat for Humanity the Waterloo School Board breakfast program and Minor League hockey.

Zev Kershman of Coldwell Banker Sarazen Realty in Ottawa, 28, obtained his license while still in college. The company says he observed the stress that moving puts on clients and made it his mission to make the transition as seamless and comfortable as possible. He demonstrated that success comes from investing the extra effort to establish a bond with clients, the company says, and Kershman has built lasting relationships by focusing on personal interactions, frequently giving clients friendly calls on their birthday, or simply to see how they’re doing. Technology has also been a key contributor to his achievements. Kershman has built more than 30 websites for individual condo buildings in Ottawa that provide clients and consumers

Nettie Hendricks

Ricky Rathore

Tony K. Sobczak

Mark McLean and TREB president Tim Syrianos

B.C. speculation tax Continued from page 3

TREB honours members for community service The Toronto Real Estate Board (TREB) presented several awards to members at its recent Annual General Meeting. Past president Mark McLean of Property.ca Realty received the TREB Honorary Life Award for his contributions to the Board.

The David Rossi Committee Service Award recognized the outstanding committee volunteer work of Ricky Rathore of Re/Max Empire Realty and Tony K. Sobczak of Royal LePage Connect Realty.

TREB also presented awards in recognition of members’ outstand-

with pertinent research and education and help him with lead generation.

He is the co-chair of the Emerging Generations of the Jewish Federation of Ottawa, where he focuses on building engagement with individuals under 40 in his community and mentoring other young professionals as they seek to start their REM careers.

From left: Andrew Ipekian, TREB 2017-18 president Tim Syrianos, Paul Swartz, Jennifer Burton, Javaid Ali Khan, Maria Natale and Liz Porritt.

Mike Bolger

Zev Kershman

have come for generations. They buy groceries…they buy gas, pay property taxes and patronize all of the ancillary businesses and they do it at a much higher per capita rate than, say, a full-time resident.

To put in place a tax that suppresses or dissuades that sort of economic activity…I think is not a practical approach to what goes on in those communities.”

Trapp says he has heard from developers in tax-proposed areas that they are putting developments on hold until they see how the tax rules unfold.

Under the current proposal, non-B.C. residents would add 0.5 per cent of the tax assessed value of the property in 2019, he says.

That means that on a property assessed at $650,000 the owner would pay an additional $3,250 in property tax. In 2020, the tax would jump to two per cent – an additional $13,000 tax.

Trapp is uncertain how the

government will tax B.C. residents on second properties. “I haven’t seen any government communication that clearly spells that out.”

While a Royal LePage report forecasts that the speculation tax could result in a dip in prices or resort properties across the province by almost three per cent, that report doesn’t tell the whole story, Trapp says.

“These are highly populated regions, so they will have a disproportionate effect on the (home price) average in the province,” he says. In resort areas that are tax-exempt “there is an opportunity for a market lift.”

But that market increase can also have a negative impact on affordability, he points out.

“What I hope the government does is if they don’t eliminate this tax proposal completely, is that they overhaul it in such a way that it truly does target speculators.”

The proposed tax legislation will be tabled in the fall legislature.

REM

REM AUGUST 2018 27

What kind of sales rep are you?

By Joe Richer

L

egendary motivational speaker and sales guru Zig Ziglar might have been ahead of his time when he advised aspiring salespeople to “stop selling, start helping.”

Good real estate salespeople teach clients about their rights and responsibilities and walk them through every line of text on any document the clients are asked to sign, explaining in plain language what everything means. They’re the kind of salespeople who know a healthy real estate market depends upon maintaining strong consumer confidence. The kind of salespeople who understand the value that consumer protection and regulatory oversight brings to their profession.

In other words: they’re the kind of salespeople who demonstrate their value to satisfied clients and get positive word-of-mouth referrals. They are also the kind that other registrants like to deal with.

Most real estate representatives I meet get it: when the public understands that real estate salespeople, brokers and brokerages are regulated, and somebody is enforcing the rules, it builds confidence in the industry.

Think about it. What level of confidence would you have in a car if you didn’t know the federal government mandates safety standards for automobiles? Would you personally invest money in the stock exchange if it wasn’t regulated?

There are no guarantees in life, but that knowledge significantly raises one’s confidence.

For most consumers, buying a home is far more expensive, and much more complicated, than buying a car or stocks in a company. Very few consumers have either the confidence or the expertise to perform a real estate

transaction entirely on their own from start to finish. That’s why the Real Estate Council of Ontario (RECO) regularly reminds consumers of the benefits of working with a registered real estate salesperson when they’re ready to buy or sell a home.

Consumers know they’re protected when they work with a registered salesperson or broker, because RECO’s mandate requires us to regulate the real estate profession. We establish educational requirements for salespeople, enforce both the Real Estate and Business Brokers Act, 2002 and Code of Ethics, investigate complaints from the public and from members of the industry, inspect brokerages to ensure they’re complying with the law and administer an insurance fund that includes consumer deposit protection.

But our most important responsibility might very well be educating Ontario consumers about their rights and responsibilities when they buy or sell a proper-

ty. An informed consumer is a protected consumer. It’s also a lot easier for a salesperson to work with an informed consumer, because you can really show your value by drilling down into complex and substantive issues, rather than spending a lot of time explaining more basic information.

RECO communicates with the public by participating in consumer shows and directing buyers and sellers to our website (www.reco.on.ca). We also engage consumers through a combination of paid advertising, social media and traditional media outreach.

Many consumers aren’t aware of the protection available to them, or they’re too embarrassed to admit they don’t fully understand a document. That shouldn’t happen.

Additionally, RECO helps salespeople and brokers talk to their clients about consumer protection. For example, we created a Registrant Toolkit of educational messaging that salespeople can access to provide helpful information to their clients on a

variety of topics such as open house safety, the pros and cons of buying or selling first, and the value of using a registered salesperson. We also have a lot of useful and interesting content on our social media feeds.

Using RECO’s materials is a great way for a brokerage to reach out to potential clients, as they demonstrate the brokerage and its employees take consumer protection seriously, and the brokerage employs the kind of salespeople who take their legal and ethical obligations seriously. You know – the kind you want to work with on your team or as a co-operating sales rep.

Joseph Richer is registrar of the Real Estate Council of Ontario (RECO). He is in charge of the administration and enforcement of all rules that govern real estate professionals in Ontario. You can find more tips at reco.on.ca, follow on Twitter @RECOhelps or on YouTube at http://www.youtube.com/RECOhel REM ps

Toronto Real Estate Board 2018/2019 Board of Directors

Gurcharan (Garry) Bhaura President

Michael Collins President-Elect

Tim Syrianos Past President

Ron Abraham North Brokerage Director

Paul Baron Central Brokerage Director

Kevin Crigger Director-at-Large

Marco Da Silva West Brokerage Director

Howard Drukarsh Director-at-Large

Susan Gucci Director-at-Large

Gareth Jones North Non-Brokerage Director

Josh Klein Central Non-Brokerage Director

Lori Roberts East Non-Brokerage Director

Keith Tarswell Director-at-Large

Brian Torry Director-at-Large

28 REM AUGUST 2018

laugh. “Only two people made a hole-in-one putt.”

■ ■ ■

Good Works

R

e/Max Affiliates, Re/Max Hallmark and Re/Max Absolute in the Ottawa area supported the Children’s Hospital of Eastern Ontario (CHEO) with a donation of $150,000. Kevin and Jacalyn Grimes of Re/Max Affiliates Realty presented the cheque to CHEO recently.

The hospital offers clinical care, research and education. It is committed to working with its various partners to help more than 500,000 children and youth from Eastern Ontario, Western Quebec, Nunavut and Northern Ontario every year.

■ ■ ■

Royal LePage Burloak Real Estate Services celebrated its yearround commitment to supporting Halton Women’s Place and the Carpenter Hospice with a donation of $42,000.

JoAnn Landry, broker/president says, “As we celebrate the 20th Anniversary of the Royal

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Jacalyn and Kevin Grimes

LePage Shelter Foundation this year, I would like to thank all of our sales representatives and employees for their support and generosity over the years. Their commitment to our cause ensures that we can continue to support two essential charitable organizations within our community.”

■ ■ ■

Sutton Showplace Realty in Chilliwack, B.C. was a sponsor at a golf tournament hosted by the Rotary Club of Chilliwack Fraser, which raised more than $14,500 for the pediatrics unit at Chilliwack General Hospital and other charities. Crystal De Jager helped to organize the tournament and sponsored a putting contest with her colleagues from the brokerage.

“The event went great and we had super weather,” says De Jager, who spent much of the day volunteering at the putting green. “It was a lot of fun and apparently it was quite difficult,” she says with a

Re/Max Professionals Saint John donated $54,700 to the recent IWK Telethon for Children. Now in its 34th year, the telethon set a new record, with more than $6.5 million raised for the IWK Health Centre in Halifax.

With every home purchase and sale, Re/Max Professionals Saint John contributes to this cause. The telethon is the largest IWK fundraiser. This year’s donations contributed to the purchase of vital equipment including a new perfusion cart, which helps replace the function of the heart and lungs during a cardiac procedure.

Approximately 100 children in Atlantic Canada have heart surgery at the IWK each year.

■ ■ ■

Royal LePage raised $25,000 for the Royal LePage Shelter Foundation at its 25th annual GTA Charity Golf Tournament recently. Since adding a charitable component in 2011, the tournament has raised $140,000 in support of local shelters for women and children escaping domestic violence.

“We are fortunate to have a highly dedicated committee that ensures our event runs smoothly

R o y a l LePage Burloak Real Estate Services contributed $42,000 to local shelters. Front, from left: Angie Mackie, Rebecca Ryder, JoAnn Landry and Mae Radford.

Crystal De Jager

Re/Max Professionals Saint John donated $54,700 to the IWK Telethon.

Guests enjoy the photo booth at the Wolle Realty on the Rails cocktail reception. From left: Nancy Hynes, Kathleen McCrohan, Neil Strickler, Sheridan MacAulay, Lisa Schultheiss and Courtney Christie.

REM AUGUST 2018 29

every year,” says Al Orlando, Royal LePage Real Estate Services West Toronto area manager.

Members of the 2018 Royal LePage GTA Charity Golf Tournament committee include Orlando, Gus Monteleone, Joanne Verissimo, Lauren Amaolo, Walter Mudyk, Miguel Madeira, Jennifer English, Rick Murray and Rod Young.

I I I

The Wolle Realty on the Rails fundraising event recently raised $10,000 in support of the Royal LePage Shelter Foundation to benefit Women’s Crisis Services of Waterloo Region and Woolwich Community services.

One hundred and fifty guests enjoyed a scenic train ride through

the St. Jacobs, Ont. countryside aboard the Waterloo Central Railway. A cocktail reception in the Railway Museum followed, where party-goers enjoyed a live performance by the 586 Quartet featuring Alex Price. There were prizes and a silent auction.

I I I

Ramie Browatzke of Royal LePage Noralta Real Estate in Fort Saskatchewan, Alta. recently hosted a Spin-a-Thon for Shelter.

The event raised $20,000 for the Royal LePage Shelter Foundation and the nearest women’s shelter, A Safe Place, in Sherwood Park.

Teaming up with local spin studio, Body Unique Fitness, the eighthour event saw eight teams of 10 participate, including the Fort

The team at Re/Max R e a l Estate Centre in Kitchener, O n t . recently took a ride on the Big Bike in support of the Heart and Stroke Foundation of Canada, raising $3,895. The Big Bike puts 29 riders on a 20-minute heart-pumping work-out to raise funds for critical heart disease and stroke research.

Right At Home Realty donated more than $77,000 to Habitat for Humanity GTA in 2017 and more than $500,000 in the past 10 years. A cheque presentation was held recently in Toronto.

Saskatchewan Bantam AAA Rangers hockey squad.

Browatzke, along with fellow Royal LePage sales representative Teri Svendsen, went head-to-head in fundraising, with their teams collectively raising nearly $13,000 for the cause.

“Fort Saskatchewan doesn’t have its own shelter, so we rely on A Safe Place in Sherwood Park for support,” says Browatzke. “We know domestic violence is happening in our community. We see many discussions on Facebook about where women should go for support and how they can get rides to Sherwood Park. Women and children are fleeing violence so it’s very important to give them as much support as we possibly can.”

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REM

To commemorate the reopening of Royal LePage Partners Realty in Toronto after an extensive renovation to their office, the Realtors in the office donated $2,000 to the Royal LePage Shelter Foundation at an open house celebration. From left: Shanan Spencer-Brown, executive director of the foundation; Al Kroch, owner and broker of record, Royal LePage Partners; Vicky Cioci, owner and manager, Royal LePage Partners; and Phil Soper, president and CEO of Royal Lepage Canada.

Re/Max Centre City Realty in London, Ont. took a ride on the Big Bike in support of Heart and Stroke Foundation Canada recently.

The team raised $2,300.

Exit Realty whitepaper...Continued from page 4 being acquired, there are some important considerations: “1. The business philosophies of the leadership on both sides should agree.

“2. The merging of companies is similar to the blending of families; it is important to take the good qualities from both companies so everyone has a sense of belonging.

“3. Good communication. Stay connected and help everyone understand that it will take time to blend.”

Bonnell says the No. 1 reason that mergers or acquisitions fail is due to “inattention to the people involved.

“Oftentimes, the acquiring company not only buys the business but also “buys” its leader so similar business ethics, values and philosophies are key. Failure occurs when the newly merged leadership doesn’t pay attention to the agents (old or new) and the result is an empty building when everyone leaves.”

The full whitepaper can be downloaded at www.exitrealty.com/whitepapers. REM

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30 REM AUGUST 2018

What’s

New Lead Assign signs deal with Royal LePage Lead Assign, which bills itself as an “artificial intelligence innovator�, has signed a deal for its lead distribution technology with Royal LePage.

Joe Steeves, director, global operations with Lead Assign, says: “Research shows that nearly half of all sales go to the (agent) that responds first, and that replying to an inquiry within five minutes can increase sales conversion rates by as much as 400 per cent – yet most

organizations lack the ability to quickly qualify and respond to inbound leads without substantial manual effort. Lead Assign uses A.I. to automate that process, ensuring the most suitable agent receives and responds to a lead in minutes, which can often be the make or break factor in closing a deal.�

In the event the first agent is unavailable, the solution redirects the lead to appropriate alternatives, reducing the risk of losing the opportunity due to delayed responsiveness, the company says.

Founded in 2014, Lead Assign is based in Thornbury, Ont. It has customers across Canada, the United States, Europe and Asia and is used in the real estate, financial services, insurance and automotive industries. For information: www.leadassign.com.

Firm helps agents host seminars for first-time buyers White Glove Workshops, a digital marketing company specializing in planning, managing and promoting educational seminars for professionals in finance,

AVI ROSEN

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

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insurance, healthcare, real estate and the legal profession, has expanded its service offerings to Canada. “There is tremendous opportunity for Canadian service professionals to grow their business through in-person seminars that are powered by digital marketing – an approach currently not being utilized to its full extent in this region,� says CEO Mike Ashley. “Through our research, we’ve learned Canadian service professionals are relying primarily on referrals to grow their business, and we want to transform their approach to generating new business.�

The real estate workshops will educate first-time homebuyers on the entire home purchasing process. “We take on all the work and risk associated with educational seminars on behalf of these professionals – from securing a venue, deploying our proprietary digital marketing program and training professionals on how to have a successful seminar, among many other things,�

Ashley said.

White Glove Workshops is based in Birmingham, Mich. For information: www.whitegloveworkshops.com

Hart Real Estate Academy aims to fill void left by OREA College The new Hart Real Estate Academy will provide Ontario real estate professionals with interactive in-class sessions both face-toface and online.

Effective, July 1, The Ontario Real Estate Association (OREA) is no longer offering in-class learn-

ing sessions for many of its registrant and articling courses through OREA Real Estate College.

Students will only be able to take these courses via correspondence or online self-study, with no interactive instructor and peer component.

Surina Hart, Gino Schincariol and Lorne Andrews, certified real estate instructors and industry professionals, say they launched Hart Real Estate Academy to ensure class sessions are available for students who prefer to learn in an interactive live or online setting. “Hart Real Estate Academy classes are designed to provide students with useful content to ensure that the material is not only covered to enable a passing grade on the exam, but also to provide practical information to enhance participants’ real estate skills,�

Andrews says.

Face-to-face sessions will be held at York University’s Aviva Tennis Centre. For information: www.hartrealestateacademy.com

FCT launches home inspection and warranty products FCT recently launched Home Protection Solutions (HPS), a new division that will provide prospective home buyers and sellers in Ontario with a third-party home

Surina Hart

inspection and transferrable warranty. The company says up to $20,000 worth of warranty coverage will be provided for defects on the “blind spots� of a home’s major features, such as the roof, foundation, heating and cooling system. “Buyers often fear that they may have to incur significant expenses soon after acquiring a home, and sellers may be hesitant to get an inspection at the risk of significant repair costs prior to listing their property,� says Jackie Chetcuti, head of HPS. “These products seek to reduce this anxiety by assessing over 400 features around the house through an independent home inspection, and provide warranty coverage on a property’s larger, stress-inducing blind spots that are often expensive to fix.�

Sellers can invest in an 18month transferrable warranty and home inspection that can FCT says could potentially reduce days on market and increase the property’s overall selling price by removing the need for a buyer’s home inspection and reducing risks related to home quality.

For buyers, the warranty plan offers a comprehensive home inspection and 21-month $20,000 warranty, which goes into effect after the home inspection is complete. For information: www.fcthome.ca. REM

Gino Schincariol

Lorne Andrews

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

Promoting Professionalism and Competency in the Home Inspection Industry Find your inspector now at

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