Training: How to Generate a Property Details Report

The Property Details Report in GeoWarehouse is a must have document that outlines what you need to know about a property when representing a buyer or seller.

Information included in the Property Details Report includes:  

·        The real estate sales professional’s branding

·        The property address

·        The legal description and property identification number (PIN)

·        Aerial and street view of the subject property

·        Tax assessment information

·        Sales history on the property in question and more…

To view a sample report click here http://cdn.geowarehouse.ca/marketing/downloads/PropertyDetailsReport-SAMPLE.pdf

As this is a training video – we flash back to our training video

 

For more information about GeoWarehouse or for other training materials please visit www.geowarehouse.ca or call 1-866-237-5937.

What’s on Title? What You MUST Know as a Real Estate Sales Professional

What does “what’s on title” mean to you? It could mean who is on title, it could mean what is owed against the title, or it could mean many other things. As a real estate sales professional it is important to perform due diligence to ensure that you have the complete and accurate picture as it relates to your client and the property being purchased or sold.

When representing a buyer or seller there are a couple of fundamental things that you will want to know and verify. 

Commission is almost always paid by the seller. The seller may or may not be your client. Whether you represent the seller or a buyer looking to purchase a property, where the seller is represented by a different agent you will want to validate some details: 

Who owns the home? You will want to double check that all homeowners are listed on the deal and none have been omitted. If the seller is your client you will want to verify that all people who are listed on title have signed on as your clients. 

Is there enough equity in the home to pay all encumbrances and real estate commissions? This is important because you will want to ensure that the client doesn’t have mortgages or liens that consume all of the equity in the home – or there won’t be anything to pay you. Accessing a tool that will show you mortgages registered on the property can be very helpful at identifying these types of potential issues. 

With the above 2 examples, you can access home ownership information and information about registered mortgages 1 of 2 ways:

1.      By generating a Property Details Report in GeoWarehouse which will show home ownership information as well as registered mortgages.

2.      By purchasing a Parcel Register* in the GeoWarehouse store which will show home ownership information as well as all mortgages registered, liens or other encumbrances, as of the date of the search.

In the case of only representing a buyer who is not selling a home – it may be a good idea to ask your client if they have been pre-approved for a mortgage. Before looking for a home the client should have already looked at mortgage options and should know how they qualify for to borrow. If they have not already looked at their mortgage options they may waste your time and theirs looking at properties that they may not be able to pay for in terms of mortgage payments or may not even qualify to finance. If they have not been pre-approved for a mortgage you may want to consider referring them to a mortgage broker who you know and trust to determine their eligibility for mortgage financing before you start house shopping.

At the end of the day you and your client are best served when you have the information necessary for the closing to go smoothly, as well as to ensure that you get paid and avoid potential fraud.

Save time and resources by doing your due diligence. Visit GeoWarehouse today to find out how you can verify information quickly and up-to-date, or call us at 1-866-237-5937.

*An official product of the Ontario government pursuant to provincial land registration statutes.

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 

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.

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.