Handling the Market

Posted on July 13, 2009 by remaxultimate

When the June sales numbers came in, I can’t say it was a surprise.  For quite some time, I maintained the same message that there is not a better time to buy then the present.  When in history have the rates been so low, supply somewhat up and the media sensationalizing everything to this extreme?  Not even in the early 90’s have we had this type of market.  “Breaking News” seems to be on every media outlet even for the smallest of things.

Now the buyers are simply tired of waiting. They accepted that not everyone will lose their job and that Canada is not in the same position of our American friends.  We’re not the U.S. and immigration continues and consumer confidence is much improved. Even GM has re-emerged with a promise of a new improved and reinvented company. 

Now we’re also back to multiple offers.  One of the reasons is because all the buyers that have been playing a wait and see game are no longer waiting.  We now have over 6 months worth of buyers and many of the homes we had listed have required us to book dozens of showing appointments within a 2-3 day period.  We’re receiving 6,10,15 offers making them sell over asking price.  In many desirable Toronto neighbourhoods, we have realized or even surpassed 2007 values again.  The lower end is fueling the market and now we’re seeing new life in luxury homes as well.  A home recently sold for close to 10 million dollars.  Another true sign that the market is revitalized and no longer controlled by the media.  The Toronto Real Estate Board reported a 27% increase in sales over last June.  At RE/MAX Ultimate we realized an increase of over 39% over this time last year. 

Even though the market has returned, we can’t get ahead of ourselves.  Representatives at many banks have informed me that full 5 day conditions for financing are still needed to satisfy turnaround, due diligence and approval.  Financial institutions are doing appraisals and even though lending has improved, turnaround time of 24-36 hours for approvals are just not possible.  The new market requires us to make sure that the clients are fully prequalified to make sure that homes will close based on the appraisals.     

Tim Syrianos
RE/MAX Ultimate Realty Inc., Brokerage

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What Social Media is Not

Posted on July 8, 2009 by remaxultimate

I can’t escape it.  Somehow and some way, I’m perceived in the office as an internet techy.  Even as I started to write this, an agent walked in and said “can I ask you something since you’re so techy?” :-)

Truth be told, since I’m the Broker, I truly don’t mind.  I like being perceived as the person to approach with new ideas of ways to reach more people and especially when it relates to personal promotion.  Being on the world wide web and keeping in touch with our existing database while allowing everyone to see what and how we do things is a definite advantage.  These media streams are powerful tools and inexpensive. Using them to promote yourself and in business is the key and RE/MAX Ultimate takes full advantage of it.

At the same time, let’s not forget that the cameras are always on us.  Some have even remarked that internet social sites are like database warehousing and therefore it’s very important that you are not judged negatively by what you post online. Why wouldn’t a potential client or employer Google you??  It is also in my opinion that personal touch should never be replaced.  If someone emails or sends you a text message, why not “call” them back??  It’s a habit that I have developed. 

Know your audience and make sure that even if they prefer text and email, don’t make it a habit of hiding behind email and text devices.  Never assume that its normal not to pick up the phone and make a connection at least sometimes.  These social medias are not ways to keep relationships alive and could even lead to total separation.  This applies to our clients and within our personal lives as well.

Tim Syrianos
RE/MAX Ultimate Realty Inc., Brokerage

Filed under: Career Building and Coaching, Careers at REMAX, Personal Stories and Opinions | Tagged: , , | 1 Comment »

True Commitment

Posted on June 10, 2009 by remaxultimate

Ok I have to admit something.  I’m addicted to real estate.  This is no surprise to our agents, my friends and most definitely my family.  Its been 20 years since I achieved the license that would change my life forever.  I also made a realization…..I’ve been in the real estate business for over half my life.  Its been 20 years since I embarked on the journey to serve my clients and assisted them to purchase a home where they will create a lifetime of memories while building equity and personal wealth. I also realized that I’ve been in the business twice as long then I’ve been happily married.  

I recently went on a family vacation to Disney World in Florida.  I must admit that I probably had a better time then the kids.  I thought maybe because I wanted to be a kid again or maybe because its truly a magical place.  More importantly, I realized that its the people that make the experience memorable. Its truly all about “dreams coming true”.  Sound familiar???

Imagine the possibilities if we did everything and anything to recreate the same client experience with our clients.  Imagine the loyalty, the improvement of our professional image to the public, just how much more fun and stress free our day to day work will be. Imagine the streams of referrals.  We’re already involved in making dreams come true.  It’s just for a different reason.

Tim Syrianos
RE/MAX Ultimate Realty Inc., Brokerage

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The Best Coach in the World

Posted on May 10, 2009 by remaxultimate

This year is my 20th year in real estate. It’s been a career with daily surprises and not a day has passed where I haven’t learned something.  Every day brings new experiences. During my sales career, I enjoyed working with buyers and sellers and assisted them to achieve their real estate goals and dreams.  Now as a Broker , I have the excitement and privilege of going to work everyday and being associated with a collection of the best Realtors in the business.  It’s truly exciting to assist and be there to offer guidance, an outside voice of reason and provide the coaching to push through the daily challenges that our business throws at us.   Coaching provides a great deal of personal satisfaction and happiness because it allows me to share in the success of our agents in both their professional lives as well as their personal lives.

Many who know me know that I have a very special friendship with my father.  However when I think of who I am today, there is absolutely no question that my best coach in the world has been my Mother. She ’s the one that molded and guided me through all my tough times, the one that taught me right from wrong and provided me with the encouragement and courage to never quit.  She taught me how to dance, how to hold kitchen utensils and how to ride a bike.  She’s the one that helped me up, wiped my tears away and dusted me off when I had fallen down.  My childhood memories are full with her sacrificing her time and finding the energy to take me to class after class of extra curricular activities and sports.  One look in my mothers eyes and I can always see her joy and felt how proud she is. 

This is why mom’s are spectacular.  In amazement and complete overwhelm, I further witnessed this first hand with the birth of our first daughter.  Mom’ s go through so much, do so much and they should be honoured more then once per year. They are truly the best coaches in the world.

On this special day, I will thank my beautiful wife for being such a fantastic mother and role model to our daughters.  I will also thank my mother for being my coach, my biggest fan, always keeping me focussed and assisting me to find my way and place in the world. 

Happy Mother’s Day to all moms!

Tim Syrianos
RE/MAX Ultimate Realty Inc., Brokerage

Filed under: Career Building and Coaching, Careers at REMAX, Personal Stories and Opinions | Tagged: | 1 Comment »

Who needs Superman?

Posted on April 30, 2009 by remaxultimate

I came across this article written by one of our ultimate agents and thought it would be great to share with everyone.  In today’s market, keeping in touch with all the tools available and watching for market trends will allow us to educate our clients in any situation.  A very interesting option that may be coming to our Toronto Real Estate Market before we know it.

Is it Time to Replace a Home Inspection with a Thermal Imaging Inspection?

Whether you a new first time home buyer or a seasoned homeowner, you are probably aware of the importance of performing a home inspection on any house you buy. With today’s concerns around efficient energy usage, mould issues and insurance company’s penchant for refusing to insure structures with outdated wiring, perhaps it is time to consider a thermal imaging inspection.
 
Thermal imaging inspections are relatively new to the residential real estate market in Toronto and Mississauga, but they may become a staple of every real estate transaction in the future. A regular home inspection is visual and will not uncover problems that are hidden to the naked eye. Thermal imaging inspections using infra-red thermal imaging equipment will show you what’s going on behind walls that could cause you future problems and expense.

Visually Undetectable Problems Revealed
So, you are a new first time home buyer and you have finally found your dream home. The listing states that the home contained knob and tube wiring but was replaced and the seller is prepared to warranty this. But you have concerns and would like the peace of mind that only certainty brings. After all, even with a warranty from the seller any future discovery of knob and tube wiring, possibly nullifying your home insurance, may require the inconvenience and expense of legal help to remedy the situation. Or the seller may be deceased at the time of discovery, who do you turn to then for a remedy? 
A thermal imaging inspection will let you know now if your concerns are valid.  

Water Leaks & Heat Loss
Perhaps you have found evidence of a water leak and would like to know where it is coming from,  or you would like to uncover the spots in the home where heat loss is occurring. A thermal imaging inspection will reveal these to you.

Mould
You may have concerns about health issues related to mould. Thermal imaging will uncover mould that may not be apparent on the surface.

A house is probably the largest financial commitment you will make in your lifetime, why not find out the true condition of a home.

It may not be time to replace a visual inspection with a thermal inspection but you may want to consider doing both. What do you think?

John Lavin is one of our full time realtor with 24 years experience helping buyers and sellers of homes, condominiums and investment properties in Mississauga and Toronto. Please visit his website today if you are in the market for Mississauga Square One Condominiums.

Filed under: Home Buyer tips, Home Seller tips, Toronto Market Watch | Tagged: , , | Leave a Comment »

Are Buyer Agents Important?

Posted on April 22, 2009 by remaxultimate

Absolutely!

In the past week, I had a couple of agents approach me with scenarios of potential buyer clients that were contacting individual listing agents to show them the property.  Some of the Buyer clients were even questioning the necessity to sign the agency agreements.  

Everything we do and say educates our clients and at some point in time we must of given the impression to the public that these forms are not mandatory and by calling the listing agent directly, they possibly would be even saving money by cutting out the Buyer Agent.  Nothing could be further from the truth. 

In my 20 plus years in real estate experience, I can’t see how a client has saved money by cutting out the Buyer agent and going through the listing agent alone.  Whenever an agent meets with a potential seller to list a property for sale, the first order of business is to establish a marketing price and decide on the best terms that the Seller (the client) would accept.  Once all this is settled the marketing plan goes into action. 

When a buyer comes directly to the listing agent, it’s typically become the expectation of the buyer that the agent will reduce the commission in favour of selling the property and this is where things lose their clarity.  First, it’s the duty of the listing agent to get the best price for their client the Seller.  Secondly, why wouldn’t any benefit in a reduced commission or fee not be realized by the Seller?  Especially when that same listing agent told the Seller at the time of evaluation what the price should be. 

When you drive down the street, how many different company For Sale signs on each property do you see??  One.  Sellers sign a listing agreement allowing them to market the property for sale.  TREB has created for buyers a system called the Buyer Registry System that is in reality similar to an MLS system.  Our governing bodies known as RECO and TREB is very clear in their requirements to have Agency explained to the consumer at the earliest opportunity. Buyer representation agreements outlining who represents who and how need to be disclosed on all offers and can only be accomplished by having these important forms signed.

Being represented by your own agent is vital and this is why Buyer Agency was created.  Having someone in your corner to educate, guide, negotiate and look out for your best interest is vital when it comes to making arguably the largest investment of your life.   Shortcuts or the perception that you will be saving money is not advisable.  If an agent doesn’t take the time to sit down with you, explain and ask you to sign these necessary forms, what else are they missing or not telling you??  Is your agent full time and continuously keeping themselves updated on all requirements??

At RE/MAX Ultimate we take great pride in representing our clients the right way

Tim Syrianos
RE/MAX Ultimate Realty Inc., Brokerage

Filed under: Home Buyer tips, Home Seller tips, Personal Stories and Opinions | Tagged: , , | Leave a Comment »

Weekend Activity Shows Market Trends

Posted on April 21, 2009 by remaxultimate

For some, Monday mornings may be tough.  For me it’s a great day to hear the success stories from the weekend.  Monday is also the best day of the week because the results are in and we’re able to see trends and gauge just what the market is doing.  

It was another successful weekend with many of our Ultimate agents reporting very busy open houses and agreements of all price ranges either faxed to our admin or dropped off for processing first thing in the morning.  Record low interest rates are allowing more and more first time buyers to take advantage of the opportunities that exist.  We know things are better when agents are once again setting offer dates and homes selling for over asking price.  Withholding offers didn’t exist for several months but once again they’re creeping right back in as common practice.  The downtown core is not the only area that has experienced a resurgence. To view a recent CTV interview with Michael Polzler, please click here

I know the market has changed because we’re personally in the market for a home. Our growing family needs a larger home and we can no longer wait until the weekend to view properties.  We’ve quickly realized that we need to act quick and have already missed a couple of great opportunities.  See, I’m not only sharing my insight as a Broker but through the eyes of a buyer.

Tim Syrianos
RE/MAX Utimate Realty Inc., Brokerage

Filed under: Home Buyer tips, Home Seller tips, Personal Stories and Opinions, Toronto Market Watch | Tagged: , , | Leave a Comment »

Negotiating the Real Estate Deal

Posted on April 6, 2009 by remaxultimate

Negotiate is what RE/MAX agents do best.  Whether it is getting the best offer and term for a Seller or securing a great deal for a buyer, clients always remember the value a Realtor adds to their transaction.  We’re involved in assisting our clients with their homes.

A strength in any negotiation is to know the facts.  Knowledge is power and learning as much as you can and being prepared is key to successfully reresenting the best interests of our clients.

Another important lesson that I have learned is “don’t want it more then they do”. Work with the attitude of plenty and abundance and you will always make the right decision. 

Playing fair and treating all parties invloved in a professional manner with integrity also goes a long way.  Just recently, I received a very nice email from a co-operating agent raving about how “awesome” our agent Laureen Unroth was to work with.  It was a message that put a smile on my face and reminds me that when we work with integrity, fairness and co-operate fully, it sets an example in our industry that is definitely contagious.  As an agent during my selling career, I quickly realized that treating the co-operating agent like a valued client went a long way to securing many successful sales and building professional relationships.  By checking our ego at the door, aren’t we truly working in the best interests of our clients after all??

Tim Syrianos
RE/MAX Ultimate Realty Inc., Brokerage

Filed under: Career Building and Coaching, Careers at REMAX, Toronto Market Watch | Tagged: | Leave a Comment »

March Results-Yearly increase

Posted on April 2, 2009 by remaxultimate

The Spring market is here!  The snow has melted and there is a very strong confidence in the market felt.  Our agents are reporting much busier Open Houses, more calls from their sign inquiries and it’s evident that Buyers are finally seeing the true value and opportunity that exists presently.

Keeping our fingers on the market’s pulse is what we do regularly.  I’ve always enjoyed tracking numbers.  Aside from how many home sales are completed, we track how many homes are listed for sale, how many calls and appointments are booked as well as how messages are sent through our paging system to our agents.  This further allows us to determine just how busy the phones are.  We find this constant research imperative because it assists our agents and clients to make sound decisions. 

Our March sales resulted with a 25% increase in home sales over last March.  Our volume was only slightly higher and once we investigated deeper, noticed quite a few more higher end rentals being done.  Investors will definitely benefit from this type of data and once again proof that real estate is the best investment

Being ahead of TREB data and sales results shows just how strong our RE/MAX agents are and I’m proud of each and every one of our Ultimate agents

Tim Syrianos
RE/MAX Ultimate Realty Inc., Brokerage

Filed under: Home Buyer tips, Toronto Market Watch | Tagged: , | Leave a Comment »

The REALty Spring Market

Posted on March 19, 2009 by remaxultimate

The weather is not the only thing very Spring like.  This past week has been very interesting and exciting.  The office has picked up considerably and the home listings, appointments and sales are streaming in at a better rate then last March.  However something that we didn’t expect to return for some quite time is multiple offers but for homes that show well and are priced right….they seem to  back!  Several of our agents are reporting multiple offers in many neighbourhoods.  Some have been in central Toronto, others in the east end. 

141 Winchester

141 Winchester

With the media continuously entertaining us with doom and gloom in the stock market, I’m hoping that they pick up on all the positive events taking place in the real estate industry.  A home this week had 13 offers and sold for $216,000 over the asking price.

Not all multiple offers result in an over asking sale scenarios but clients are making a very clear statement that with record low interest rates, affordability has never been better.  Buyers have no interest in waiting for rates to rise before purchasing a home. Even retail sales have shown an increase and this shows more consumer confidence.

Real estate is an amazing proven investment and the decision to purchase or sell is not only based on the current stock market results.  There are many buyers and sellers that need to buy or sell due to life requirements and or changes and there is only so much time that they can wait. Perception is everything.  There is still over 92 % of our population with a job, not everyone has lost in the stock market and thousands are still choosing Toronto as their destination to call home and will need a home.

Tim Syrianos
RE/MAX Ultimate Realty Inc., Brokerage

Filed under: Home Buyer tips, Home Seller tips, Toronto Market Watch | Tagged: , | 1 Comment »

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