Teranet Announcement – GeoWarehouse

Teranet is pleased to announced that 34 (out of 35) Ontario Real Estate Boards have agreed to extend their contract with GeoWarehouse for three more years! 

We are grateful for their support, and look forward to investing in new features to ensure that GeoWarehouse remains the most popular due diligence solution for Ontario real estate agents. 

Teranet would also like to acknowledge that we have received an overwhelming number of questions from members of the Toronto Real Estate Board (TREB) concerning their interest in continued access to GeoWarehouse as an essential service.  In response, Teranet would like to advise all members that we have  presented a standing offer to your association, specifically the TREB executive, to renew GeoWarehouse at the same per-member fee that is presently paid by TREB, on behalf of all members.  This offer remains in effect for their consideration until our current agreement with TREB expires on January 31, 2014. 

Based on the feedback and consent we have received directly from over 5,000 TREB members in the past 2 weeks, we are currently reaching out to various brokerages across the GTA to discuss opportunities for continued access to GeoWarehouse for you and your fellow members.

ViMO – A Virtual Mobile Office, Available Early 2014

Expect great things in 2014 from the GeoWarehouse team at Teranet. We look forward to bringing you ViMO (Virtual Mobile Office), a mobile application that will encompass many of the capabilities of GeoWarehouse and more. ViMO is a premier sales and marketing support tool that enhances your personal brand by allowing you to use mobile technology to provide a better client experience when interacting face-to-face with your prospects and clients. This application will also allow you to perform property and neighbourhood searches, create reports, network with clients and other real estate sales professionals, and sign electronic documents. ViMO will be available in early 2014.  

To stay informed you can follow ViMO on Facebook, LinkedIn, Twitter, Google+, YouTube, Pinterest and more! Also, feel free to check out the ViMO Twitter page at @myvimo.

GeoWarehouse - Training Video Recap – Part 2

A couple of weeks ago we released a blog that outlined the training videos available on YouTube that demonstrate how to use GeoWarehouse, customize your profile, perform searches and request reports. Our objective is to ensure that you have access to all the training information possible to ensure a positive user experience whenever you use GeoWarehouse. 

In part 2 of our recap we will address how you can access and request searches in the GeoWarehouse Store.   

1.      Introduction to the GeoWarehouse Store http://www.youtube.com/watch?v=OK2ZVCpF__c

This GeoWarehouse training video details how you can access the GeoWarehouse Store, how to make purchases in the GeoWarehouse Store, acceptable methods of payment, types of searches, documents and images and how your purchases will be delivered to you. 

2.      Requesting Parcel Registers, Instrument Images http://www.youtube.com/watch?v=PCnO80_bRvM

This GeoWarehouse training video details how you can request a Parcel Register to validate home ownership, registered mortgages, liens and other vital property title information, how to download and save your search and how to review your search. It also shows you how you can request instrument images including mortgage documents, transfer documents and more, how to download and save your images and review your images.   

3.      Requesting Surveys, Plans and MPAC Assessments http://www.youtube.com/watch?v=uaBKInGfEfc

This GeoWarehouse training video details how you can request a survey, download, save, print and review your survey. It also outlines how you can request a plan download, save, print and review your plan. It also covers how you can request MPAC Assessment Reports, complete your purchase, download, save, print and review your reports.  

We hope that you have found this useful and if you require more training information please feel free to contact us here  

Mobile Technology for Real Estate to Improve Face-to-Face Interaction with Clients

The past decade has revolutionized the value of social media and mobile technology in Canada. Information and the social environment is no longer based on face-to-face interactions, mail, or over the phone. To be fully integrated with society, it has become necessary to access and utilize social media, smart phones, and technology in general.  

While this phenomenon is not as common with the older generations, the younger generations have established it as the norm. Generation Y, those born between 1981 and 2000, is part of the younger generations that have become accustomed to this standard in society. It is important to consider this fact because they encompass one-third of Canada’s population and it is also noted to be the fastest growing demographic in the workplace.  It is also projected that in 15 years, Generation Y will compose three-quarters of the workforce. All things considered, the use of technology and social media is progressively becoming more crucial to the workplace environment and society.  

Some real estate sales professionals have expressed concern that technology, especially mobile technology, is decreasing human interaction and face-to-face relationships with customers. This natural progression does alter the methods of communication, but it is not necessarily harmful. The utilization of technology continues to progress in both the older and younger generations. It is because of this that technology actually creates more opportunities for real estate sales professionals to compete and engage, especially with this rapidly growing demographic. Technology also allows for an ease in accessibility which will contribute towards your efficiency and productivity. Trips to the office will no longer be necessary, and both you and your client will be more readily available. 

What is important is to learn how to leverage technology and behaviour to embrace clients who use technology religiously. It is essential to develop parallels between face-to-face interaction and interaction using technology to find ways to achieve the same result with clients using both established mediums. Beat the competition by using technology to your advantage. Mobile technology will allow you to work efficiently and update yourself with social media.  Keep yourself updated, and search for available applications that will allow you to integrate more mobile capability into your workflow. 

GeoWarehouse - Training Video Recap – Part 1

Training on the full capabilities available from GeoWarehouse is a simple way to be aware of all of the information at your fingertips. For all real estate professionals, we thought it would be beneficial to provide a recap of the training videos available on YouTube.  

1.      Getting Started in GeoWarehouse http://www.youtube.com/watch?v=a3WTOpoeU3Y

This GeoWarehouse training video details how to sign in to GeoWarehouse through the website, how to customize your reports, how to configure your GeoWarehouse profile, the Message Centre, account and transaction information, e-learning, zoom-to-it and more. 

2.      Finding Property Information on GeoWarehouse

        http://www.youtube.com/watch?v=ozrhYlreg5s

This GeoWarehouse training video details how to access the MPAC Property Line link, how to use the map window and legend and how to perform a search using GeoWarehouse (by address, address range, name, etc…). 

3.      Generating Property Details Reports http://www.youtube.com/watch?v=yVR3xKREm6M

This GeoWarehouse training video details how to perform your search, how to generate your property details report, what is included in the report, how to download and/or print your report and how you can enhance the information contained in your report. 

4.      Generating Neighbourhood Sales and Demographics Reports http://www.youtube.com/watch?v=QawAF5W2oho

This GeoWarehouse training video details how to perform your search, how to generate your neighbourhood sales and demographics reports, what’s included in your report, how to download and/or print your report and how you can enhance the information contained in your report. 

5.      Generating an Enhanced Sales Report http://www.youtube.com/watch?v=f-bQ3ZsG7js

This GeoWarehouse training video details how to perform your search, how to generate an enhanced sales report, what’s included in your report, downloading and/or printing your report, and how you can further access the results contained in your report.  

6.      Accessing Google Maps Street View http://www.youtube.com/watch?v=BdyH9VCGChM

This GeoWarehouse training video details how you can use Google Maps Street View. It details how you can pan and zoom, how you can use full screen view, virtually walk through a neighbourhood, adjust street view reports and more. 

7.      Generating a HomeVerified Report http://www.youtube.com/watch?v=f8TMZ7Dw2sg

This GeoWarehouse training video details how you can locate a property and generate and review a HomeVerified report that contains vital information about a property’s insurance claims history. 

We hope that you have found this useful.

Look forward to part 2 of our recap where we will cover how you can obtain many of the useful searches available in the GeoWarehouse Store.

 
For more GeoWarehouse training information please feel free to visit here 

Electronic Management of Real Estate Transactions in the Near Future

You know better than anyone that when the time comes to close a deal, paper begins to fly! Offers begin going back and forth and this can become time consuming and complicated. As with many other industries, the real estate industry continues to move towards going paperless. According to 680 News, in March of 2013, Canada’s PC Government made it clear that they believe it is time that Ontario approve the use of electronic signatures for real estate transactions. In fact, Ontario is one of the last provinces still manually signing and closing real estate deals.

On June 12, 2013, OREA applauded the passage of the 2013 provincial budget which included provisions to make electronic real estate agreements a reality in Ontario. The budget included an amendment to the Electronic Commerce Act (ECA) which will extend the legal protection of the ECA to include electronic real estate agreements. You can view the Act here http://www.e-laws.gov.on.ca/html/statutes/english/elaws_statutes_00e17_e.htm  

In September of this year, OREA posted an update on the amendment to the ECA forecasting that we will likely see electronic signature capability in 2014.

Some real estate sales professionals have commented that they feel that the ability to sign electronic forms will interfere with face-to-face relationships and engagement with clients, while others have surmised that it could lead to an increase in fraud.

We actually believe it will be quite the opposite. This amendment will certainly lead to new technology and successes for real estate sales professionals across the province. New capabilities will mean that you can do more on the go, service your clients better and close more deals. As Henry Ford famously said, “If everyone is moving forward together, then success takes care of itself!”

With the introduction of mobile applications, such as ViMO (Virtual Mobile Office), real estate sales professionals will be able to use their tablet in a client meeting instead of preparing and carrying the necessary documents ahead of time. They will also be able to have the client sign their documents electronically. Instead of going back and forth between the client’s home and their office, they can send the documents to the real estate sales professional instantly.

This amendment is a progressive step in the right direction and will lead to more success and prosperity for all.

Jeremy Provides a Sneak Peek of the new application, ViMO at OREA’s Emerge

At the OREA Roadshow, Jeremy, The Product Manager of GeoWarehouse and ViMO (Virtual Mobile Office), will be unveiling the new mobile application which is tailored to facilitate necessary measures to successfully close contracts. ViMO will be available in the coming months and will remodel the method of handling real estate transactions.

If you would like to follow or learn more about ViMO:

Follow us on Twitter at @GeoWarehouse or @myvimo.

How Are You Giving Back?

We came across this great video produced by OREA that we thought was definitely worth a share. It highlights how different real estate sales professionals are giving their time volunteering to support their colleagues and improve the industry.  

We would like to hear how you are giving back. Post a 20 second video about what you are doing to give back and contribute to the industry for a chance to win a Kobo E-Reader. You can submit your entry one of 3 ways:

1.      Posting your entry on the GeoWarehouse Facebook page.

2.      Posting your entry in the discussion thread “How Are You Giving Back” in the Ontario Real Estate Sales Professionals Group (sponsored by GeoWarehouse) on LinkedIn

3.      By tweeting your entry, adding @GeoWarehouse and #HowImGivingBack

You must be a licensed real estate sales professional in Ontario to participate.

5 Year Canadian Real Estate Trends

It comes as no surprise to most Canadians that, as the country continues to put the last few years of financial instability behind it, housing sales continue to rise. This graph, recently released by the Canadian Real Estate Association (CREA), demonstrates this, outlining some of the different trends that have impacted both spikes and declines. As the graph illustrates, sales in 2013 have been strong and continue to increase, signaling good things for the future. Even with CMHC guideline changes, criticized by some as a bad move as far as future home sales, Canadians are still purchasing and the real estate industry continues to thrive.

Sales right now are the highest they have been in almost three years, but how can you, as a real estate sales professional, work to keep them high? It is simple. With a few real estate tools that make finding the perfect home for your clients trouble-free, you can ensure that those sales are ending up on your desk and the commissions in your wallet.

-        Property Details Report: use this tool to access information regarding MPAC data, ownership, sales history and property images.

-        Neighbourhood Sales Report: use this tool to gauge market value by comparing recent sales in a given neighbourhood.

-        Neighbourhood Demographics Report: use this tool to find out about age distribution, family statistics, average income, etc.

-        Aerial Imagery: use this tool to determine the desirable (and undesirable) features of a neighbourhood.

Get the information you need to find your clients the home they love and close the deal from the comfort of your office.

For more information about GeoWarehouse real estate tools please contact us at 1-866-237-5937 or visit www.geowarehouse.ca.

Condo Status Certificate Online – Say It Ain’t So?

We are happy to report that yes, it is so! We all know that requesting a Condo Status Certificate is probably one of your least favourite aspects of closing a deal. However, now it doesn’t have to be!

Traditionally, the process of requesting a Condo Status Certificate required tracking down the appropriate person at the condo corporation, making your request in writing (usually by fax) and then having to mail payment by certified means before they will even get started on the request. Next you can wait up to 10 days before the Condo Status Certificate is ready and arrange a courier to pick up the massive document.

Seems like a complicated, time consuming way to go about getting something, especially given the fact that it is 2013 and technology makes virtually every other aspect of our life effortless.

GeoWarehouse has made the process of requesting Condo Status Certificates a little bit easier. While many are not fully available for online viewing, they can be requested online through the GeoWarehouse Store.

What does this mean to you? It means that you can simply access the GeoWarehouse Store, request a Condo Status Certificate online, pay by credit card and then either receive it electronically or, if it is not available electronically, arrange to have it picked up.

Yes, it’s that easy!

If you are listing a condo or representing a buyer then you know that you will need a Condo Status Certificate as it provides complete disclosure with respect to the financial standing of the condo corporation. It can also reveal if the condo owner is in arrears on their condo fees. It pays to get it before your deal is finalized as it will make for a smoother closing and help you to identify issues that could come up upon closing once the real estate lawyer gets their hands on it.

If you are a real estate sales professional who does not specialize in condos but it is an area you want to get into, Miller Thompson released a really good whitepaper titled “Condominium Ownership – What You Need to Know”(http://www.millerthomson.com/assets/files/article_attachments3/MT_A-Residents-Guide-Living-and-Buying-a-Condominium_A-Loeb.pdf ). This whitepaper highlights a lot of useful information as perceived through the eyes of a lawyer as it relates to condo purchases. It also highlights the purpose and necessity of a Condo Status Certificate. 

Get ahead of issues before they become issues and save yourself time in the process with an online Condo Status Certificate request through the GeoWarehouse store. Visit www.geowarehouse.ca or call 1-866-237-5937.

How to Know if a Property You Are Listing Has Had a Home Insurance Claim on it

When you are listing a property for a client, knowledge really is power. It is crucial to be able to learn as much about a property that you are listing as possible, even if your client doesn’t have the ability to provide you with all the information you need, either because they don’t know or because they have omitted it. Offers can fall through on inspection when a skilled home inspector comes out and identifies things that your client hasn’t apprised you of.

 

Some examples of potential deal breakers are homes that have electrical problems or homes located in areas prone to floods. Being able to find out all the relevant information on a listing enables you to provide your clients with more value as they will see that you have covered all bases. It helps to identify issues and properly set expectations at the beginning of your client relationship.

Ensuring the above can be accomplished by finding out if a property has had a home insurance claim on it. An Insurance Claims History Report will do just that and many home inspectors request these reports before seeing a home. This enables them to hone-in on things that they should look for when inspecting a home for a buyer. An Insurance Claims History Report can reveal insurance claims for fire, floods and can even tell you if a property has been used as a grow-op.

What begins as a simple act to ensure complete due diligence can quickly morph into a fantastic sales tool. If you request an Insurance Claims History Report on a property that comes up clean, this is information you can share with the real estate sales professionals who represent those buyers interested in your listing. Being able to review a home insurance claims history on a particular property is truly a win-win any way you look at it.

So now the question is how can you request an insurance claims history on a particular property? This is where things get exciting; as a real estate sales professional you likely access GeoWarehouse to perform other searches such as Parcel Registers, or request other reports like the Property Details and Neighbourhood Demographic Reports. Well, now through the GeoWarehouse Store you can request a report by HomeVerified which will review the home insurance claims history on a particular property or even an entire neighbourhood.

Now you can do an even better job for your clients effortlessly. For more information about how you can request a HomeVerfied Report on GeoWarehouse please visit www.geowarehouse.ca or call 1-866-237-5937.

What Real Estate Tools Can You Use to Identify What is Being Portrayed by the 4 Images?

 

Take a look at these 4 pictures. Then think about finding the perfect house for your clients. What do these four images have in common with regard to that search? Noise, air pollution, unpleasant smells…how many of your clients would be happy living in an area with any of these features in their backyard? Probably not too many.

Sure, it may be possible to stumble upon these when you take your client to view a home, but do you really want to even bother taking your client somewhere that has attributes in the neighbourhood that could be deal breakers? If these issues are not identified beforehand, the entire trip to the home could be a waste of your time and theirs.

How can you determine what types of structures/features are in a given neighbourhood without having to drive around to countless areas? How can you find out the undesirable characteristics of an area without the driving and legwork? Furthermore, many of these features may not be visible when you drive down the road where the house is located, but their presence even within a few kilometers may be a big turn-off later on.

Here is where the benefits of aerial imagery come in. From within GeoWarehouse and with the click of a mouse you have the ability to view things from above, at a much wider scale than the local drive would provide. This allows you to knock those properties off the list if there are certain characteristics that you know your clients would not want.

Aerial imagery makes creating the most comprehensive list of potential homes a breeze. Even better, use it in combination with other advantageous real estate tools and save yourself time and money.

For more information about aerial imagery, or any of the GeoWarehouse real estate tools, please contact us at 1-866-237-5937 or visit www.geowarehouse.ca.

Real Estate Branding – What is the Brand That is You?

Your personal brand as a real estate sales professional and your personal recognition plays a vital role in your professional success. Real estate branding is a topic that has been widely discussed in the industry and good real estate branding can lead to increased customer retention, not to mention new business.

Mobile technology and social media has changed the way that your prospects and customers receive information, so being digitally connected to them is critical.

 

Once you make a connection to a customer you open up a gateway to remarket to them, maintain recognition and be there to support them the next time they are ready to buy or sell. A real estate sales professional who is a thought-leader, providing wise counsel and not just information, sets the stage for life-long learning and life-long relationships.

When trying to hammer out the “brand that is you,” Fast Company released an excellent article with a list of things to consider (view it here: http://www.fastcompany.com/28905/brand-called-you). Here are some quick tidbits:

1.      What makes you different?
2.      What is the pitch for you?
3.      What’s the real power of you?
4.      What does loyalty mean to you?
5.      What is the future of you?
6.      We have added from an excellent TED talk – What is your why? http://www.youtube.com/watch?v=qp0HIF3SfI4

Establishing the brand that is you is only the beginning of the battle – next will be promoting the brand that is you.

How can you promote the brand that is you? By embracing and leveraging the tools that you have available to you, like mobile apps that keep you connected and investing time in your social networks,  making a concerted effort to grow those networks through sharing information that is of real value.

You must remember though that digital networking exposes you to a wide audience and so the information you share is a direct reflection of your brand. Accuracy and professionalism is paramount. You can digitally establish the brand that is you and the public’s perception of your personal brand by putting great consideration into how you go about sharing and engaging and the type of information you publish. The information that you publish and the information you share should be consistent with your core values.

You are on the road all the time so another important factor that may influence the perception of your personal brand is accessibility. Mobile tools that keep you both connected to other real estate sales professionals and the clients you serve are vital in a fast moving market place. Mobility and having instant access to information that enables you to serve your client with quick and accurate information on-the-go enhances your personal brand and credibility.

In a recent article by Ozzie Logozzo, executive director of the Ontario Real Estate Association Real Estate College, there is a great discussion regarding what the brand of a real estate professional could be. Logozzo discusses stigma in the industry and how real estate sales professionals can rise to a standard that changes perceptions of what the real estate professional brand in Ontario should look like.

How do you feel about the perception of what a real estate sales professional is in Ontario? Would you prefer to be judged by the brand that is you or by the brand that has been established for you by the industry? Do you think that there is a perception of what a real estate professional is or is capable of simply in reference to the identification with the words real estate? We’re listening…

If you would like more information about GeoWarehouse or upcoming mobile resources please visit www.geowarehouse.ca or call 1-866-237-5937.

Execution of Electronic Purchase and Sales Agreements Coming to Ontario

It is a widely known fact that the Ontario Land Registry System has been fully automated for many years now. Electronic registrations of sales transactions and mortgages have also been in place and have resulted in much faster closings.

In June of 2013, John Gregory of SLAW (one of Ontario’s online legal magazines) reported on a recent and major amendment to Ontario’s Electronic Commerce Act. The amendment will remove the exclusion on land transactions.

Furthermore, Cassels Brock wrote that “the purpose of the bill is to facilitate the use of electronic signatures in real estate transactions by removing the exception in the Act which prohibits land transfer documents from being signed by an electronically generated signature.”  

In June of 2013, OREA issued a release of the passage of the amendment, thrilled with the idea that the amendment could mean that electronic real estate agreements of purchase and sale in Ontario may become a reality sooner than later.

Electronic real estate agreements are thought by many, including OREA, to be a major step towards improving the speed, efficiency and reliability of real estate transactions.

As you know, when you are negotiating the purchase and sale of a property, everything is pretty much paper-based and back and forth exchange generally occurs through the faxing and emailing of documents. When in a situation where there are counteroffers and amendments going back and forth, transactions can become complex,  as each time there is a change all parties must be available to sign off on changes.

Real estate lawyers have long enjoyed the luxury of automation which enables two solicitors to work together on a real estate transaction. In the mortgage industry, platforms like Filogix Expert have created a way for mortgage brokers to work electronically on deals with lenders. So it is exciting that the amendment may mean the same opportunity for real estate sales professionals in the future.

How do you think this will impact the negotiation process? Do you embrace the change? Do you think that these changes will cause considerable improvement to the negotiation process?

You can read more about the amendment at: 

• http://www.orea.com/About/Press-Releases/Press-Releases/June-12-2013 
• http://www.slaw.ca/2013/06/12/ontarios-electronic-commerce-act-amendment-passed/ 
• http://www.casselsbrock.com/CBArticle/New_Amendment_to_the__i_Electronic_Commerce_Act__i__Allows_for_Electronic_Signatures_in_Real_Estate_Transactions

 

Stay tuned for mobile tools that will enable collaboration as a result of this amendment potentially in the area of realtor to realtor collaboration and also realtor to consumer collaboration.

If you would like information about GeoWarehouse, please visit www.geowarehouse.ca or call 1-866-237-5937.

Join @OREAinfo Oct 3 @Sheraton_Ottawa to examine the latest tools and technologies in #RealEstate today.

https://www.orea.com/About/Young-Professionals-Network/Emerge-Landing-Page/Ottawa  

Innovative Ways that a Property Ownership Search Can Help You be More Efficient!

When representing a client, whether it is a buyer or a seller, the more information you have about a property and its owners, the better. Most real estate sales professionals will turn to a search in GeoWarehouse to get the information they need quickly. A property ownership search can be performed in GeoWarehouse by leveraging different reports and searches to obtain the information that you need.

When requesting a Property Details Report in GeoWarehouse, you will get access to not only the sales on the subject property, but also the property’s PIN (Property Identification Number). Say you want to know how much the subject property is encumbered for, what current owners paid for the home, when they purchased it, etc.  Armed with the property address and PIN, you can request a Parcel Register in the GeoWarehouse Store and instantly identify who is on title to the property, the type of ownership, when they purchased the property, what they paid for it and any mortgages or liens registered.

This can make you more efficient in so many ways:

·        You can validate that the client engaging you actually is the homeowner. What does this mean to you? It means that, if there are other people on title, they are consenting to the sale of the property and that you in fact contract all of the relevant parties.

·        You can learn of encumbrances and liens on the subject property and protect your interests and other closing costs. What does this mean to you? Incredible time savings. You can quickly identify if your deal is in fact a practical deal and address financial shortfalls before investing your valuable time and energy into representing a client.

·        You can identify any prevalent issues that could impact the deal from closing. What does this mean to you? There is nothing worse than being at the 11^th hour on a closing and getting a call from the real estate lawyer advising you that there are issues on title that will prevent your deal from closing. Seeing what is on the Parcel Register will greatly mitigate this and enable you to assist your client to resolve any issues well before your closing date.

Validating property ownership can play a key role in any real estate transaction, and having this information will lead to increased efficiency and a smoother closing.

We want to hear from you. Have you ever had a deal go south on closing because of title related issues?

If you would like more information about GeoWarehouse, please visit www.geowarehouse.ca or call 1-866-237-5937.

CMHC Announces Restrictions to Guarantees in an Effort to Cool a Booming Housing Market

As Canada’s housing market continues to thrive, it appears that CMHC has taken yet another step to cool things down. This week, the Financial Post reported on the changes that CMHC announced which will restrict the amount of new guarantees it offers to banks and other lenders on mortgage backed securities.

CMHC advised the financial community of the restrictions this month. In the Financial Post article, Doug Porter, chief economist with the Bank of Montreal, surmised that perhaps the sales prices in the past month led CMHC to take an additional step to further cool the housing market.

According to National Bank financial analyst Peter Routledge, this change may lead to mortgage rates charged by the major banks increasing from between .15% to .45%.

Our question to you is: if the major banks raise their rates, what impact do you think this will have on the real estate market in Canada?

You can read the full article here at http://business.financialpost.com/2013/08/06/cmhc-restricts-levels-of-new-guarantees-for-banks-and-mortgage-lenders/.

If you would like more information about GeoWarehouse please visit www.geowarehouse.ca or call 1-866-237-5937.

TREB Market Watch June 2013 Analysis Has Been Released and the Numbers Are Looking Good

T

REB has released their analysis of June 2013’s housing numbers through their monthly TREB Market Watch video and the numbers are looking good despite last year’s changes to CMHC lending guidelines.

Jason Mercer, Manager of Market Analysis at TREB, stated that more than 9,000 sales were reported on the MLS system in June - which was a decrease of about 1% in comparison to June of 2012. This rate of decline was substantially less than what was reported in the first quarter. Mr. Mercer surmised that this was due, in part, to households adjusting to the tightened CMHC lending guidelines that were announced last year.

He also indicated that, inside Toronto, the land transfer tax continues to weigh heavily on the minds of folks looking to buy, and this could be the single consideration that pushes a homebuyer to look at buying in the 905 area.

With sales slightly down, the average sale price of a home rose 5% year over year, to an average sale price of over $530k, due to continued demand.

You can view the full TREB Watch video here http://www.youtube.com/watch?v=JUK015OspnE

Looking for sales history information on a particular property or neighbourhood? Login to GeoWarehouse to find all of the information you need to investigate a particular property or community. Visit www.geowarehouse.ca.

The Importance of Knowing Demographic Information About a Particular Neighbourhood

One thing that Canada is known for around the world is its multiculturalism and diverse demographics. It is what attracts people to this country, and it is also what makes this country unique. The things that someone new to Canada may look for, in terms of choosing a country to live in, are similar to the ones that a homebuyer may look for, when choosing a community to lay down roots.

As a real estate sales professional, you know that where your client chooses to live is based on a number of different factors. Features such as location, proximity to parks, schools, public transit, etc. may influence the decision to settle in a given area, but what about elements that, perhaps, cannot be determined with a drive through the neighbourhood? Do you want to have to drive through a neighbourhood to be able to learn demographic information? Is what the eye can see even accurate? Demographic information, especially when it relates to your client’s neighbourhood of interest, is very important, and your ability to provide it improves your customer’s experience when working with you.

Is a subdivision the right fit for your client? Is the area abundant with young children or a mature community with less young families? Are a vast majority of properties in the area rentals? What is the average income in a community? Many people want to live in a community with others who are like them, and these are things that you, as their real estate sales professional, should be taking into consideration when researching potential properties.

The Neighbourhood Demographics Report, available on GeoWarehouse, can help you to determine neighbourhood demographics, and is the best way to collect this information. The information included in a Neighbourhood Demographics Report can help you answer your clients’ questions regarding age distribution, marital status of residents in a given community, and average household income. The structural types of housing, as well as the percentage of rented homes versus owned, are also key elements of this report.

Demographic information is not always evident when driving through an area; being able to provide this information will make your client more informed and lead to more referral business as more and more clients are wowed by their experience working with you! 

For more about the Neighbourhood Demographics Report please visit www.geowarehouse.ca or call us today at 1-866-237-5937.

EMERGE - Moving you forward with the tools for tomorrow

OREA hosting a series of events for REALTORS throughout Ontario in the coming months. Check out this link for more details www.orea.com/emerge.

Announcement - Facebook Kobo Contest Winner Manuel Bustamante

We are very excited to announce the winner of our Facebook contest. Manuel Bustamante, sales representative from CENTURY 21 Miller Real Estate Limited in Oakville, Ontario, was the proud recipient of a Kobo E-Reader. We thank all of the real estate sales professionals who participated in the contest. 

Stay tuned for our next contest and an opportunity to win something great!

How to Skyrocket Your Real Estate Lead Generation Using Technology

What makes the difference between a somewhat successful real estate sales career in Ontario and one that is very successful?  The answer is a rock solid plan for real estate lead generation. In this blog, we will cover some proven techniques that successful real estate professionals have adopted, and that can accelerate your real estate lead generation.

Social Influence

We all know that the arrival of social media has changed the way that we communicate, network and generate new business. In this regard, social influence is the key.

Put yourself in the shoes of your prospect.  Imagine you were having coffee with a colleague, and shared that you were thinking about purchasing a property. If your friend offered a recommendation, how likely would you be to take that recommendation? This is the whole premise of social influence, the only difference is that now recommendations occur online.

Let’s take Facebook as an example of social influence: if you were to ask a happy client to visit your Facebook page and post about their experience, the result would be that their connections would see the post in their feed. Someone else, who may be in the market to buy or sell a home, may be influenced by their connection’s positive experience with you.

In fact, statistics show that 1 in 3 people make a buying decision based on recommendations from those in their social networks. We know that finding time to manage social presences can be daunting, but starting with a single presence, that you check regularly, is a start. Here are techniques that you can employ to improve social influence within your networks:

1.       Create a Facebook presence that caters to your real estate endeavours (not your personal Facebook page).

2.       Anytime you meet someone invite them to join your network on Facebook.

3.       Anytime you close a deal, ask your client to post on your Facebook page with respect to their dealings with you.

In no time at all you will begin to see the fruits of your labour.

Thought Leadership and Recognition

Consumers want to deal with a professional who is a thought-leader in their field. You have access to many tools and resources that help you discover an abundance of information, so why not blog about them? Showing your prospects that you are knowledgeable and able to address all their questions is key.

Here is a great example: in Ontario, thousands of real estate sales professionals use GeoWarehouse to learn about sales histories, neighbourhood demographics and more. Why not share this knowledge with your online networks.

Here is how to do it: If there is a particular demographic that you want to speak to, write a quick blog about neighbourhoods that cater to that demographic. This will speak directly to those you want to market to and establish you as a thought-leader in an area that is important to them.

Being in the Right Communities to Expand Your Referral Networks

Referral relationships are an awesome way to generate ongoing volume business with little ongoing marketing investment. Sites like LinkedIn are amazing for this purpose. On LinkedIn you can join groups that are frequented by target referral sources; CAAMP is a great example. If you want to establish new referral relationships with mortgage brokers, the CAAMP group on LinkedIn is the perfect place to find them. Get connected to new referral opportunities on LinkedIn and then leverage the “Projects” module inside your LinkedIn profile to post listings and keep your connections in the loop with respect to your current listings. More exposure of your listings equals more sales.

Some other ideas could include posting to free classified sites like Kijiji, Craigslist and, where possible, paying to be a top sponsored listing. Sponsored listings on Kijiji are a very affordable way to gain a lot of exposure. Kijiji also gives you the ability to access a list of people who are posting looking for your services.

These are just a few examples of ways that you can leverage technology for the purpose of real estate lead generation. Join the conversation - what best techniques are you using to generate more business?

If you would like information about GeoWarehouse please visit www.geowarehouse.ca or call 1-866-237-5937.