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Average 5.5% Gain in Home Prices Forecast Nationwide for 2021

Published December 14, 2020 by Real Estate Leads

One of the things that everyone will agree on is that seeing moderate increases in home values is a good thing for one and all. We stress the word moderate there, because anything more than incremental gains in the values of homes has the potential to be harmful for those who are ready to enter the housing market for the first time. A decline in median home prices is never a good thing for anyone, and that’s true on everything from the individual level right up to the prosperity of the country as a whole.

From the perspective of a real estate agent, it’s a little different than the way the consumer will see it all. Keep in mind though that most real estate agents are homeowners themselves. In that scenario, you’ve got a double vested interest in seeing national growth in home values. But with more value in homes there’s more value in the business that brings more into the profession. That’s a double-edged sword of sorts, as it becomes an increasingly competitive business.

That makes our online real estate lead generation system an excellent choice for realtors who need a hand being the competitor they want to be when it comes to growing a real estate business. You’re put more directly in touch with would-be clients who are legitimately looking to buy or sell a home in your area of the country.

Clients that will likely being paying a little more for that same home in 2021 it would seem, and that’s where we’re going to focus today.

Perfect Moderate Gain

Our friends at Royal LePage are predicting that home prices in Canada will rise some 5.5% in 2021, and that will be attributable to building on unexpectedly strong growth this year, driven by a shortage of properties for sale and record low interest rates.

Adding further that the aggregate price of a home in Canada should rise year-over-year to $746,100 in 2021. The median price for a 2-storey detached house and condominium are projected to increase 6% to $890,100 for the detached houses and $522,700 for the condos.

Aggregate home prices are based on a weighted model that uses median prices and includes all housing types.

It needs to be said, however, that the government-backed mortgage insurer Canadian Mortgage and Housing Corporation is predicting a price decline in 2021 and more than a few of the country’s biggest banks are foreseeing growth that’s a little more repressed. As is almost always the case though, those who do real estate full time and exclusively tend to be a little more in the know and correct with their predictions on housing in Canada.

In conclusion with that, we should see upward pressure on home prices continuing, and that reality should be buoyed by supply continuing to not demand all across the country as a whole, and policy makers keeping interest rates low – which is almost certainly going to happen given the current economic malaise brought about by the COVID pandemic.

15% Average Rise

The average Canadian home price went up more than 15% in October from the same time the year previous (2019), and according to the CREA that’s a record gain.

RBC and the Bank of Nova Scotia have presented 2020 annual reports where they expect house prices to grow 0.6% over the next 12 months, and that constrained housing affordability is the only impediment that’s likely keeping that number from being higher.

Buyer demand for condos is expected to be healthy in Canada’s biggest cities, but with one exception – Toronto. It’s the only major metro area where softer demand is seen continuing in the city centre.

Ottawa and Vancouver are the frontrunners for city-specific rises in median home values, with increases of 11.5% for the country’s capital and 9% for Vancouver. Calgary and Edmonton are set to have much less noticeable growth – 0.75% for Cowtown and 1.5% for the Albertan capital. Toronto prices? Think more along the lines of 5.75% gains.

Sign up for Real Estate Leads here and receive a monthly quota of qualified, online-generated buyer and / or seller leads that are delivered to you exclusively as the only realtor registered to receive them. It’s a proven-effective way to get more out of your client prospecting efforts, and a look at our testimonials page is enough to make clear how many realtors like you are very happy they’ve already made the decision to sign up.

2021: The ‘Move Up, Move Over’ Year for Canada’s Real Estate Market?

Published December 7, 2020 by Real Estate Leads

Being a full week into December now we can affirmatively state that the current year is now waning on the horizon and we will be in January of 2021 before we know it. Most people are pretty keen to have 2021 in the rear-view mirror, and for good reason. For homeowners and soon-to-homeowners and the realtors working with them, there’s an added reason to be enthused about the coming new year.

All of which is relevant for those newer to the profession of being a real estate agent in Canada. The market has remained very resilient throughout the economic turmoil brought about by the pandemic, and we’re all thankful for that. Nothing, however, is going to make real estate any less of a competitive business and realtors need to be hustling harder than ever to continue to have the ‘pie slice’ they envision for themselves.

That’s what makes our online real estate lead generation system here at Real Estate Leads such a valuable resource for realtors in Canada. Like the idea of being straight lined into contact with genuine buyer / seller prospective clients? Right, of course you are and that’s what our system is able to do for you.

Which is plenty good news, because industry experts and economists are foreseeing a good bit of vibrancy to the housing market for next year, and in fact some are saying it could be the year of ‘move up and move over’ for many people who will be active in the Canadian real estate market next year.

As Expected – Less Supply, with More Demand

So what’s meant by that? Well, it is believe that the real estate market in Canada will be pushed primarily by these ‘move-up’ and ‘move-over’ buyers in 2021. Why? Well, let’s start with the projection that ongoing supply shortages will push prices up some 4-6%, according to REMAX Canada.

What we do know is that there’s plenty of evidence that many households are considering major lifestyle, many that will involve relocating to less dense cities and neighbourhoods. Sales of homes in suburban and rural parts of Canada reached record levels in 2021 and this trend is expected to continue.

Much to the pleasant surprise of realtors working in more rural areas of Canada no doubt! Also a catalyst for greater numbers of people in these locales to perhaps consider a career change to real estate if that’s something they think might work out well for them.

But let’s consider more prominently that 52% of Canadians believe real estate will be one of the best investments in 2021, as the housing market remains hot despite the downfall many predicted for it in the time following Mid-March.

Sanctity – and Scarcity – of Space

Other relevant stats here we were able to borrow; only 6% of sellers in 2020 made purchasing decisions influenced by the COVID-19 pandemic. 40% started on home renovations. Most notable, however, was that 29% of buyers were opting for more space. Something you almost certainly won’t get in Vancouver or Toronto unless you’re a multi millionaire or darn close to it.

Suburban markets saw influxes of new residents this year. Places like North Bay, Kingston, Moncton and the Fraser Valley around Vancouver are good examples. This trend is expected to continue into 2021.

It’s also foreseen that market activity across the country’s most populated Province – Ontario – is set to remain very steady in 2021. While only an estimate, it’s believed that the a potential for an average sale price increases of some 7-12% should be seen in regions like London (7%), Kingston and Cornwall (10%), Niagara (12%), and 10 percent for Thunder Bay too.

What’s behind all this? Well, it really is the same old story. High demand and low supply paired with shifting home-buying trends toward local liveability factors. More and more people than ever want more space, larger yards and closer proximity to amenities like parks.

Move-up and move-over buyers are impacting luxury segments in Ontario too. Ottawa and Hamilton-Burlington are prime examples of a massive spike in demand for luxury homes since the start of the pandemic, and this is expected to be the norm all through 2021 too.

Being a full week into December now we can affirmatively state that the current year is now waning on the horizon and we will be in January of 2021 before we know it. Most people are pretty keen to have 2021 in the rear-view mirror, and for good reason. For homeowners and soon-to-homeowners and the realtors working with them, there’s an added reason to be enthused about the coming new year.

All of which is relevant for those newer to the profession of being a real estate agent in Canada. The market has remained very resilient throughout the economic turmoil brought about by the pandemic, and we’re all thankful for that. Nothing, however, is going to make real estate any less of a competitive business and realtors need to be hustling harder than ever to continue to have the ‘pie slice’ they envision for themselves.

That’s what makes our online real estate lead generation system here at Real Estate Leads such a valuable resource for realtors in Canada. Like the idea of being straight lined into contact with genuine buyer / seller prospective clients? Right, of course you are and that’s what our system is able to do for you.

Which is plenty good news, because industry experts and economists are foreseeing a good bit of vibrancy to the housing market for next year, and in fact some are saying it could be the year of ‘move up and move over’ for many people who will be active in the Canadian real estate market next year.

As Expected – Less Supply, with More Demand

So what’s meant by that? Well, it is believe that the real estate market in Canada will be pushed primarily by these ‘move-up’ and ‘move-over’ buyers in 2021. Why? Well, let’s start with the projection that ongoing supply shortages will push prices up some 4-6%, according to REMAX Canada.

What we do know is that there’s plenty of evidence that many households are considering major lifestyle, many that will involve relocating to less dense cities and neighbourhoods. Sales of homes in suburban and rural parts of Canada reached record levels in 2021 and this trend is expected to continue.

Much to the pleasant surprise of realtors working in more rural areas of Canada no doubt! Also a catalyst for greater numbers of people in these locales to perhaps consider a career change to real estate if that’s something they think might work out well for them.

But let’s consider more prominently that 52% of Canadians believe real estate will be one of the best investments in 2021, as the housing market remains hot despite the downfall many predicted for it in the time following Mid-March.

Sanctity – and Scarcity – of Space

Other relevant stats here we were able to borrow; only 6% of sellers in 2020 made purchasing decisions influenced by the COVID-19 pandemic. 40% started on home renovations. Most notable, however, was that 29% of buyers were opting for more space. Something you almost certainly won’t get in Vancouver or Toronto unless you’re a multi millionaire or darn close to it.

Suburban markets saw influxes of new residents this year. Places like North Bay, Kingston, Moncton and the Fraser Valley around Vancouver are good examples. This trend is expected to continue into 2021.

It’s also foreseen that market activity across the country’s most populated Province – Ontario – is set to remain very steady in 2021. While only an estimate, it’s believed that the a potential for an average sale price increases of some 7-12% should be seen in regions like London (7%), Kingston and Cornwall (10%), Niagara (12%), and 10 percent for Thunder Bay too.

What’s behind all this? Well, it really is the same old story. High demand and low supply paired with shifting home-buying trends toward local liveability factors. More and more people than ever want more space, larger yards and closer proximity to amenities like parks.

Move-up and move-over buyers are impacting luxury segments in Ontario too. Ottawa and Hamilton-Burlington are prime examples of a massive spike in demand for luxury homes since the start of the pandemic, and this is expected to be the norm all through 2021 too.

Sign up for Real Estate Leads here and receive a monthly quota of qualified, online-generated buyer and / or seller leads that are from genuine buyers who are in the same area of any city or town in Canada where you are working as a real estate agent. But what’s most important to most realtors is that you will be the only realtor who will receive those leads, we won’t be providing them to anyone else. It’s a dynamite way to supercharge your client prospecting efforts, and it comes highly recommended from realtors just like you.

Good Time to Remortgage a Home?

Published November 30, 2020 by Real Estate Leads

Clients don’t just see their realtor as the individual who’ll bring a buyer to them when they’re selling a home, or fast-track the process of getting them into the home they want. The professional relationship runs a lot deeper than that, and one thing that’s true most of the time is that these folks will be looking to you to be an expert on the entirety of the housing market and – to a lesser extent – being in the know about smart moves related to being a homeowner.

Even if they aren’t homeowners – yet.

Financing of a home can be a part of that. While most realtors will have a preferred partner that they can recommend to clients as a mortgage broker, there’s still a lot to be said for being knowledgeable about that side of the equation on your own.

Now it’s true that part of being seen as knowledgeable is being reputable, and in large part that comes from being well established as a realtor in the area. When you’re a new realtor nothing gets you to that point quicker than selling homes and bringing buyers to other realtors who are selling homes for their clients. To that end, our online real estate lead generation system here at Real Estate Leads is an excellent resource for realtors who’d like that leg up on the competition. It’s highly recommended.

But back to topic here, and again in relation to the financing of homes for clients. There has been some discussion lately about whether or not now is good time for homeowners to be remortgaging their homes. Is there any truth to that, and if so, why? Let’s have a look.

Unique Opportunity

It’s no secret that historically low interest rates recently have prompted homebuyers to pull the trigger on home purchases like never before, but it’s also presented a unique opportunity for real estate investors.

Let’s take Toronto for example. The COVID-19 pandemic has lessened demand in the condo rental market, much to the disappointment of many investors. The Bank of Canada’s interest rate cuts did create historic lows designed to resuscitate the economy, and what they also did was give investors an opportunity to refinance their mortgages.

In some cases the primary aim was to lower their monthly payments to something that was more in line with what they could afford and still maintain their base of investment funds. The situation now is that they can unlock up to 80% of the appraised value and potentially make it so that the payments are lower than their existing payments.

No Need to Wait for Renewal Time

The best time to refinance a mortgage has always been when it’s due for renewal. However, with mortgage rates as low as they are it becomes a situation where refinancing before term could be worth the outstanding penalty.

Why? Because of the significantly larger amount of equity that can be unlocked, which could then be repurposed into tax-deducible portfolio growth.

Add to this the fact that there are going to be buying opportunities as the market changes, ones where investor buyers can take advantage and take out money for tax deductible investments. For example, say your client takes out an extra $100,000 from a refinance. On account of their property value being higher than when they bought it, they are then paying $210 per month tax deductible on interest.

What this means is that whether it’s your primary residence or a cash flow positive income property where you don’t need the income, you can use that income to invest in more properties and reduce your income for tax purposes.

Further, you can inform your client that the unlocked equity can also be used to consolidate other debts. It is potentially a very shrewd play that can increase the client’s investment capacities down the road, and the solidity is there given how the real estate market has weathered the storm of the COVID-19 economic downturn.

Sign up for Real Estate Leads here and receive a monthly quota of qualified, online-generated buyer and / or seller leads that are delivered to only one realtor – you! You’ll be the exclusive recipient of these leads and they’ll be for prospective clients who live in the same area of the country where you do and are working as a real estate agent. It’s a dynamite way to supercharge your client prospecting efforts, and you’ll almost certainly be making more of a name for yourself in the local community as a reputable real estate agent.

24-Hour Touch Ups That Can Help Buyers Legitimize Asking Price

Published November 23, 2020 by Real Estate Leads

This week we’re going to segue back to the topic of things you can do as realtor to help your clients sell their home more quickly and, in some instances, for more than they thought they’d be able to. This may be beyond the standard scope of what clients might expect from their realtor, but don’t think for a minute advice like this won’t go a long way in establishing you as a home sales expert. People talk – and people refer agents they think highly of to their friends and family when the opportunity exists.

And that’s important for many reasons, not the least of which is that real estate is always going to be a competitive business and anything you can do to grow new clients out of existing ones is a big plus. Of course, establishing that original clientele is key, and that’s why our online real estate lead generation system here at Real Estate Leads is such a good choice for realtors who are new to the business. But in truth it’s not a bad choice for realtors who are well established too

But back to topic, here are 7 quick and not-too-difficult jobs that you can suggest to your home seller clients that may make just the difference needed for prospective buyers to pay the asking price for the home, or darn close to it!

  • Refresh Grout For a Sparkling New and Clean Look

Buyers always put a premium on a master bathroom that meets their expectations. Layout and amenities are one thing, but the appearance of the bathroom during a viewing is always a factor too. Specialty grout stain removers and cleaners are never expensive and the job usually only requires and hour or so of vigorous scrubbing and then washing clean. The bathroom will have a much ‘newer’ look to it, and your buyers will likely benefit from it appearing that way.

  • Change Lighting to Create Moods and Ambiance for Rooms

A warm white light from specially chosen LED bulbs makes for a welcoming environment when potential buyers are entering a specific area of the home you and your clients feel is a key part of its appeal. When outdated fixtures are taking away from a home’s otherwise modern styling, suggest they go with more design-neutral replacements that won’t make less of the property’s charms. Again, a fix up that goes a long way while not costing very much at all.

  • Repainting Doors to Create an Updated and Inviting Entryway

Make clear that you’re not asking them to repaint the whole interior of the home here, and stress that repainting doorways with a fresh coat goes a long way for suggesting a well-kept and maintained home. Plus, remind them that the front door of the home is the first thing buyers will see as they approach to view the home. Changing out generic doorknobs and switch-plates to add an updated flare is a good idea too.

  • Shine Up Windows

There’s no debating the fact that cleanliness goes a long way in indicating a home has been well-cared for, and that understanding really resonates with prospective buyers. Cleaning the inside and outside of windows not only refreshes a room, it also allows light to infuse the space more thoroughly and natural lighting in living spaces is a HUGE appeal for anyone considering purchase of a home.

  • Give Some Time to Closet Spaces

Interior storage space is big for buyers too, and especially in regards to closets and cabinets. Let your clients know that spending 30 minute ensuring they’re clean and clear and that hangers are spaced evenly and organized and the floor is clean is a very good idea.

  • Get Rid of Appliance Stains

Most sellers will be selling the home with the installed appliances included for the buyer, and if yours are the same then you should let them know that spending some time and elbow grease getting those appliances as clean as possible – on both the inside and outside – is also a smart decision that will add to the overall appeal for open house visitors.

Suggest they get some stainless steel polish, electric cooktop polish, and stain removing pads for the kitchen sink to take their appliances and make them look much newer to the eye.

  • Organize Garage and Basement Areas

Buyers want to see at least the appearance of space that will be at their disposal in areas of the home like this. This is especially true of a garage. Organizing and decluttering these spaces can add to the positive impact that’s made on would-be buyers. Instead of telling prospective buyers how much storage space there is, have them make it so these areas speak for themselves in that way by making them as tidy, organized, and visually spacious as possible.

Sign up for Real Estate Leads here and receive a monthly quota of qualified, online-generated buyer and / or seller leads that are delivered exclusively to you. You will be the only realtor who’ll receive these leads, and that will mean you can be first in touch with these people who have shown a genuine willingness to make a move in the local real estate market soon. It’s a dynamite way to supercharge your prospecting efforts, and there’s every reason to be all over this opportunity.

The ‘Bully’ Offer

Published November 16, 2020 by Real Estate Leads

We’ve gone on fairly at length about how the Real Estate Market continues to hold strong in the face of the last 7 months of economic adversity in Canada, and one of the things that we’re seeing is that the ‘pent-up’ demand of buyers is creating some not-so-ordinary buyer tendencies given the fact that demand continues to outdistance supply in that part of the equation. Add pent-up demand and what we’re seeing is buyers who may be even more willing to do what it takes to get the home they want.

For some, that means being a bully, and having their realtor submit ‘bully’ offers. It’s been said no one like bullies, and fair enough. But if you’re a real estate agent in Canada it’s best to always be very much in the know about the workings of your business. It’s to be expected if you’re to ask any of the many hundreds of people who’ll be looking for a realtor in Canada, even before this crazy 2020 is through. You need to be the expert, and come across as one. But getting to be first in-touch with prospective clients isn’t easy, this is always going to be a competitive business.

Especially in major metro areas, and that’s why our online real estate lead generation systems for Canada realtors here at Real Estate Leads is the type of powerful ally it is in that regard. You’re given more of the opportunity to make those contacts, but then the chance to show how you’re the best professional to help them with buying or selling a home is entirely up to you.

So of course wide-reaching knowledgeability is a big plus there. If you’ve never heard of a Bully Offer, it’s one of hundreds of different insights you can and should gain into the business.

So let’s get to it.

Pre-Emptive Buyers

A bully offer is also called a pre-emptive offer. What that means is it’s an offer from a buyer to the seller to purchase a home listed for sale on MLS. Nothing unique about that, but with the bully offer it’s an offer that’s submitted before the date that the sellers have indicated they will look at any of them.

Keep in mind that the seller is free to accept any offer on their home, at any amount, at any time. Any given and suggested date for ‘consideration’ is just a statement and there’s nothing contractually binding about it.

In any real estate market that is a seller’s market – where there are more buyers than homes for sale – folks with homes for sale may make the decision when they list their home to hold on offers and wait until a certain date and time to review them. In truth it’s often a smart strategy for a seller who has properly priced their home. It allows the most buyers possible to see the home, and increases the chances of a bidding war starting and potentially driving the selling price up.

The bully offers is a high pressure sales tactic on the part of the buyer, and it’s intended to make a home seller look at the offer quickly with not much in the way to make other interested buyers aware of what’s going on.

Maybe a house is listed for sale on Wednesday. The plan is to allow it to be for sale for an entire week and then offers will be accepted the following Wednesday. By holding offers the agent increases the opportunity to market the home and increase the number of prospective buyers who’ll be aware of it being on the market at a specific price.

Should that real estate agent receive an offer on the home from another agent, but with he provision that the offer will expire before the owner’s stated window for accepting offers, you’ve got yourself a bully offer.

No Obligations

It’s important to first understand here that you and your client are of course under no obligation to accept the offer. The issue is when the bully offer comes with a proposed price that’s attractive to the homeowner. And that’s usually how it’s both intended, and how it works.

Once a bully offer is submitted, your client can choose to accept it, start negotiation, or stick to your original plan and refuse to deal with it until their stated original offer presentation date.

The question then though is are there good scenarios for accepting a Bully offer?

Buyers and their agents know that in order to get your client to accept their bully offer, they’re going to have to make it worth your client’s while. This usually means offering above asking price and with little or no conditions on the sale.

But you – as their agent – should be able to quickly determine if a bully offer is worth accepting. Some considerations:

  • When the price is ridiculously high
  • When showings are slower than expected, or home is listed in volatilely changing market
  • When the offer is firm
  • When you have notified every other buyer who has expressed interest in the property

We’re going to steer clear of any discussion about whether it’s ethically OK to make bully offers. That’s up for you to decide as a realtor. But if you have reason to believe that making one puts your client in the best position to get the home they’re after, it may be something for you to consider. Be judicious about it though, and proceed cautiously if you have reason to believe it will rub the selling realtor the wrong way.

It’s important to always remember that this is a business where it’s very important to get along with others also making their living in real estate. That said, nearly all realtors will be receptive to approaches that help them get clients into the homes that fit them best.

Making a Bully Offer

For those of you wondering on how to make a bully offer, real estate bully offers are no different from regular offers. All that you and your client are doing is disregarding any written instructions on the MLS that say the listing is holding offers. You are submitting your offer early, in an attempt to avoid competing with other buyers. Of course the seller is under no obligation to even acknowledge your client’s offer of this type, much less have to accept it. Keep in mind as well that you – the realtor – are required to convey your offer to the seller and notify all other interested parties.

Sign up for Real Estate Leads here and receive a monthly quota of qualified, online-generated buyer and / or seller leads that are delivered to you – and ONLY you – for your desired region of any city or town in Canada. It instantly vitalizes your new client prospecting efforts and creates the opportunity for you to have first crack at meeting these would-be buyers or sellers and then wowing them with your level of expertise as a realtor.

October ’20 Confirms Trend – Vancouver Housing Market Continues Surge

Published November 9, 2020 by Real Estate Leads
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One of the things that’s always important is to be able to see through the clutter and hear through the noise, and we imagine that these days that’s more true than ever for people. It was earlier this year that great misfortune was predicted to befall the real estate industry in Canada, but here we are near the end of the same year and the majority of those predictions haven’t come true.

One thing that anyone – not just real estate agents in Canada – will tell you is that the health and vitality of the industry is important because it encompasses the interests of both individual people and that of the economy. That’s not to make less of the need for affordable housing and better access to quality housing for Canadians, but for as long as real estate is a commodity there’s going to be a certain inevitability of it being tied to economic prosperity here.

People will continue to do what they can to work with that reality and be able to buy a home that meets their needs, and in the same way real estate agents will do what they can to be the realtors working with these homebuyer or home seller clients. To that end, our online real estate lead generations system for Canada here at Real Estate Leads is an excellent resource for any realtor doing just that. This business is always competitive, and when you’re new to being a realtor it can be intimidating.

29% Year-Over-Year Gains Last Month

The news that home sales in Greater Vancouver grew by 29% year-over-year in October, with transactions rising to 3,687 from 2,858, is good news on either end of that perspective. It suggests that homes are still being put on the market consistently, and then with the fact they’re selling we can safely conclude that a) there continue to be qualified buyers, and b) homes are selling for at or close-to what the sellers are expecting to receive for their properties.

Sales also increased by 1.2% last month from 3,643 transactions the month previous, September, and were up 34.7% from the 10-year average. This makes it the second-highest total ever for the month, and makes it even clearer that the COVID-19 pandemic hasn’t pushed down activity in the country’s most expensive real estate market.

One thing that’s definitely been a contributing factor is that lockdown measures in the spring were a catalyst for homeowners to upgrade their homes, and this trend has been a co-operator for the trend of homes sales not missing much of a beat in Vancouver and area.

It’s a reflection of a bigger-picture trend where people are rethinking their housing situation, and on both macro and micro levels. Then there’s the role of the Bank of Canada cutting interest rates to historic lows, and this is the biggest reason real estate markets in Canada’s 3 biggest cities have been able to weather the economic fallout of the pandemic.

What’s happened is that low rates have opened the market up to previously not-quite-qualified would-be buyers. Pair that with pent up demand and the never-ending supply and demand equation disparity for housing in areas of the country and you actually have more people coming into the market.

The REBGV data also indicates that detached home sales went up by 42.3% last month from October 2019, and the benchmark price went up by 8.5% to $1,523,800 along with that. There are many different factors coming into play with that buyer preference trend too. This is especially true in ‘satellite city’ areas around the major metro regions in Vancouver and Toronto, but it is definitely a reflection of bigger trends that will likely come to be applicable for small cities too.

Sign up with Real Estate Leads here and receive a monthly quota of qualified, online-generated buyer and / or seller leads that are delivered to one realtor only – you. Sign up and indicate your preferred region of any city or town in Canada and you’ll be able to start receiving these leads and then enjoying the more direct and immediate connection with folks who live in the area and are genuinely considering making a move in the local real estate market. It’s a proven-effective way to supercharge your client prospecting efforts in a BIG way!

Speeding Up 1st-Time Homebuyer Transactions

Published November 2, 2020 by Real Estate Leads

We have dedicated our blog to talking about the ramifications of the COVID pandemic on the housing market for months now, and it’s been quite a while since we’ve dedicated a blog to advice for real estate professional who might be newer to the profession. These days our interests are primarily in the health of the real estate market in Canada, and we imagine it’s the same for most of you too. And so we will continue to talk about real estate in Canada in future entries here.

But today we’re going to segue back to tips for realtors in Canada, and one that will be particularly well received for newish realtors who see the need to close deals with first-time homebuyers more quickly in order to both put them in the home you know is right for them and earn the commission on the services you’ve provided for them. Both of which are important, as one reality that’s never going away – pandemic or not – is that real estate is a very competitive business, and you need to do everything you can to gain advantages.

Which is a big part of why our Canada online real estate lead generation system here at Real Estate Leads is as highly recommended as it is. What it does is harness the power of Internet Marketing and voluntary online surveys to identify prospective clients who are genuinely considering making a move in the local real estate market. And we don’t need to tell you how being able to be the first realtor to get in touch with these folks has the potential to be hugely beneficial and advantageous for you.

So let’s have a look at this topic here today – how to be quicker with closing deals with first time home buyers.

Establish Expectations Upfront and Often

There’s no debating the fact that communication is a cornerstone of a successful real estate practice and client relationship. When you’re conducting a transaction as complex as the purchase or sale of a home, it’s important that no one on either side of the equation gets their wires crossed or has a catastrophic misunderstanding. To this end, it’s very important that the realtor establish communication parameters with your clients up front.

You can start by inquiring about the communication medium they’re most comfortable with. That could be texts, calls, emails, etc. Then you need to establish how you’ll reach out accordingly. Another good idea is to set up a weekly ‘check-in’ time, and this is something you should do even if it’s clear no new progress has been made since the last check-in.

Another helpful tool is to draft a transaction timeline for your client outlining any major milestones along the way, the types of information needing to be gathered, what steps are to be taken, and what possible outcomes exist. This may seem like a lot, but you need to keep in mind that in today’s super-connected digital world clients will come to their own conclusions if you’re not very proactive in doing that for them.

That’s not necessarily a bad thing, but it has the potential to be one.

Be in the Know with all First-Time Homebuyer Programs and Perks

Here in Canada, every realtor will be (or should be) aware of the Federal Liberal Government’s First-Time Homebuyer’s Income Assistance Program. If there are any provincial grants and programs that aid first-time homebuyers in your Province you should be explicitly aware of them too, as well as having at least a functional understanding of how they work.

Sometimes these programs are neighborhood-specific in certain cities, with incentives to buy in up and coming areas. In other instances there are grants that support under-represented minority communities who face greater obstacles when buying a first home. Do your research on all of this, because not only is it part of your diligence in being a realtor in Canada but it also goes a LONG way in establishing you as your client’s real estate expert, and trust goes a long way when it comes to getting them to put their name to paper with buying the home.

Push Mortgage Pre-approvals & Know Where Best Rates Are

Mortgage rates and terms will always vary, and there’s definitely mortgages any new first-time homebuyer should be avoiding. Every reputable realtor anywhere in Canada will have a good, honest, and reliable mortgage broker that they are able to refer to their clients. You need to be the same way, if you’re not already.

They should be able to rely on you to find the rate that suits their long-term housing goals, and trusting that you’ve done that for them definitely helps speed the home buying process. Keep in mind that first-time homebuyers are new to this process, and borrowing and lending processes can be intimidating to them. As an agent, it’s your job to play intermediary and instructor, letting your clients know their options and guiding them towards making educated decisions or – in the case of a reputable mortgage broker – pointing them in the right direction to be able to do that. ,

There’s no doubt that with first-time homebuyers can be an exciting and rewarding opportunity, but you should be prepared – and able – to be much more involved in the process and ‘taking their hand’ as it were when it comes to getting them to take the next step, and the next, and so on until they’re reading to sign the papers. Do it right and you’ll also likely enjoy being referred to their friends and family, many of whom may well become your real estate clients as well.

Sign up with Real Estate Leads here and receive a monthly quota of qualified, online-generated buyer and / or seller leads that are delivered to you exclusively. You’ll be the only realtor to receive these leads, and they will be for soon-to-be buyers or sellers of homes who are living in the same area of any city or town in Canada where you are working as a real estate agent. It’s an excellent way to supercharge your client prospecting efforts, and you’ll quickly see it as a solid investment in your business success.

Half Million Dollar Bonus Offered for Realtor Bringing Buyer for Vancouver Condo

Published October 26, 2020 by Real Estate Leads

Nearly all of us have been told that we will do well in life if we always ‘aim high’. While that can apply to accomplishments along any career path, when you look at it from the perspective of a real estate agent it is best paired with a real hunger for $. You can make any judgment you like about the propriety of that, but it is what it is. Nearly all of the most successful realtors make no apologies for their love of earning the biggest commissions and earning them over their competitors.

It’s always been true that if you’re going to have success in this business, you do need to have a naturally competitive side to you. As this is a competitive business no matter how you slice and no matter where in the world you’re working as a real estate agent. Some people will say you need to be a ‘go-getter’ and here at Real Estate Leads we definitely agree with that. Our online real estate lead generation system is an excellent resource for new realtors who are in fact go-getters and would like to get to the ‘getting’ of it all sooner rather than later.

Building a name for yourself in this business is all important, and then identifying opportunities where you can make the big money working as a real estate agent.

Which leads us to today’s topic, and one we simply need to share with our readership base here considering the safe assumption that all of you are realtors. This one will be relevant to realtors who work in our neck of the woods here, and in one of Canada’s most desirable housing markets – Vancouver.

$500K To Be Had On Top of Commissions

We’ll also assume you have access to the MLS, and if you’re a Vancouver realtor then you should be familiarizing yourself with one particular listing at the Alberni Tower development at the corner of Alberni and Cardero in the city’s west end. Unit 3902 at 1150 Alberni Street, to be exact.

This building will not complete until 2021, but sales of these units are picking up steam as the building promises the very best in upscale condo living in the city.

The listing price for this extremely spacious and well-appointed unit is in the vicinity of 14 million, and yes that’s a price tag that will eliminate a LOT of potential buyers. But if you’re familiar with Vancouver and what buyers are willing to pay for homes here, it still leaves plenty of potential buyers on the horizon.

And so here’s the deal – if you bring the seller a buyer who completes their purchase of this home, the seller if offering a $500,000 bonus on top of the 3.22% commission rate on the first $100K and then 1.15% on the remaining balance. It’s estimated that the realtor will walk away with something in the vicinity of $661,700 and it’s believed this could well be the highest bonus ever recorded.

Exceptional Condo Home

We’re sure you can do your homework, but to just touch on what this home has going for it; 4,030 sq. ft with three bedrooms, four bathrooms, a spacious locker, two parking spaces, and a private Japanese-inspired garden on the balcony. The building itself has intricate designs, an expansive moss garden, a pool, hot tub and sauna, a Japanese restaurant, a 24-hour concierge, and commercial spaces at the bottom of the building.

If you have a buyer who’d like the sound of that and has the financial means to purchase this home, it’s high time to get a move on and make yourself some serious money!

Sign up with Real Estate Leads here and receive a monthly quota of qualified, online generated buyer and / or seller leads that are delivered to you exclusively. You’ll be the only realtor to receive these leads, and they will be for prospective clients that are living in the city or town in Canada where you are working as a real estate agent. What these leads do is create an immediate opportunity for you to be in touch first with these people and convince them they will be best served by having you as their realtor.

Multi-Family Housing Options Abound in Metro Vancouver

Published October 19, 2020 by Real Estate Leads

It’s entirely natural that the majority of new home building starts in metro areas of the country are for multi-family housing and not for detached single-family dwelling homes. After all, it’s not like there’s any new land being created and in areas like Vancouver the decision makers realize that the scarcity of land that is available for development is much better earmarked for multi-family housing developments.

Not only do these types of homes offer more housing in regions where there’s a real demand for it and ongoing shortages, but they also tend to be better uses of the space and often are more energy-efficient housing developments too. Then there’s the more pressing and basic reality that for many qualified home buyers a home in a multi-family development is much more in line with what they can afford.

There is of course a real shift downwards in regard to what that means of commissions earning for realtors who’d ideally sell detached homes, but the market is what it is and that’s always going to be true. Real estate also doesn’t become anything of a less competitive business either. That’s why our online real estate lead generation service here at Real Estate Leads is such a smart choice, no matter where you’re working as a real estate agent in Canada.

Qualified leads on prospective buyers or sellers who are ready to make a move, what’s not to like about the sound of that?

But enough about that, let’s look at what’s behind the swell in multi-family housing purchasing options in Vancouver.

Something of a ‘Back to Normal’

Vancouver’s multi-residential property market is coming back from the COVID pause with an emphatic flurry and an uptick in transaction activity.

Now plain and simple what’s happening here is people are buying and selling for all of the reasons they were before, but the trend is accelerated at this point in 2020 because people want to get back to their lives and arranging their future.

In truth though, the pent-up demand in the multi-residential market goes back to the early part of 2019. That’s when investors and sellers stayed on the sideline waiting for changes in municipal and provincial policies to be clarified, so with all that in place and the ‘worst’ economic predictions for economy and market being disproven it’s now that we’re seeing  a really flurry of resumed activity.

Keep in mind as well that there are so many different types of owners, investors, and developers that come from throughout the world, and those people are seeing just how well B.C. weathered the storm compared to the rest of the world during COVID.

Then of course there’s the fact that Vancouver is still seen as one of the most desirable places to live. It’s entirely true that there is a diverse buyers’ market in the city, including professionals such as doctors and dentists diversifying their investments and entrepreneurs seeing value in bringing older buildings up to modern standards and either living in them themselves or reintroducing them to the market at a later date.

Multi-Family Homes Continuing to Go Fast

Multi-family rental is moving especially quickly in Vancouver right now, and that’s being seen in other metro areas of the country too. This is in part because of the Feds’ keeping interest rates low, with the cost of money being low working to insulate the economy at a time when that’s very much needed.

There’s then a direct translation between that and developers’ enthusiasm for building multi-family home developments. Look at these examples of new multi-family developments in Vancouver, ones that if they go ahead (and they very likely will) will see the homes within them purchased quickly and at value in all likelihood.

  • Edgewater site on Pacific Street two blocks from Sunset Beach in the Burrard Corridor,
  • A 6-storey rental development site at Main and East 33rd that saw a bidding war between five different developers
  • A mixed-use high-rise site in Surrey listed at $33.8 million

Among many other examples you can find that highlight the resiliency and ongoing strength of the Vancouver real estate market. Good news for everyone living in Lotus Land and in all the surrounding bedroom communities of Vancouver too, and of course real estate agents included. Sign up for Real Estate Leads here and receive a monthly quota of qualified, online-generated buyer and / or seller leads that are delivered to you exclusively. They are leads on homebuyers and sellers in your area of whichever city or town you’re living / working in, and again you are the only realtor who will receive these leads. From there you have an opportunity to be in touch with these people first and the chance to convince them that you are the professional they need to help them with buying or selling homes.

Bank of Canada States Intention to Let Housing Market Regulate Itself

Published October 12, 2020 by Real Estate Leads

Go back 7 months of so and generally speaking people taking an interest in the future of the housing market in Canada were of two camps generally; those that thought it wouldn’t weather the COVID 19 pandemic storm particularly well, and those who expected it would be a lot more resilient than people would give it credit for. Well, here we are spring of 2020 a very distant blip in the rearview mirror and it appears the people in that second camp were right.

That’s because, as we’ve seen, the housing market has actually heated up overall and the many different reasons that people explained would factor into that outcome have proved to be legit. People have talked about the ‘pent-up demand’ factor, people have talked about the always-relevant supply and demand factors, and then of course there’s ongoing buyer prerogative shifts that have factored into this too.

And before we get into the meat of discussing this, we should say that an increasingly valuable housing market in Canada is overall a good thing for the country. Real estate routinely makes up nearly half of Canada’s GDP (Gross Domestic Product) growth, and so even if you’re one of the people who decries the cost of real estate in Canada you still can’t deny that you and every other Canadian is benefiting from it in a more indirect but very tangible way.

Yes, the way this benefits those with careers in real estate is a part of our way of looking at this. That doesn’t, however, make the business any more of a potentially lucrative one than it ever has been previously. Realtors will know that real estate is a very competitive business, and that’s why our online real estate lead generation service in Canada here at Real Estate Leads is so highly recommended for realtors who are newer to the business.

Just last week the Bank of Canada (BOC) weighed in on all of this, and their belief regarding it is one that’s in line with those who either have equity in real estate or are working to help those people as real estate industry professionals.

Gov’t Free to Intervene, but National Bank Won’t

The BOC knows full well that emergency pandemic policies are inflating house prices, but BOC GovernorTiff Macklem has stated it’s not the central Bank’s place to be interfering in the market, and that’s a prudent understanding for many different reasons.

The BOC has stated that it intends to keep the emergency measures ― rock-bottom interest rates, purchases of Canadian mortgages and government debt ― in place for the foreseeable future, and stated further that soaring house prices won’t change the Bank’s direction. Their commitment to keep interest rates low is unwavering at this time, but Macklem did state that if too many Canadian households move towards becoming dangerously over-leveraged then policy-makers have several tools they can put into place to counter that.

The mortgage-interest stress test is integral to that, and it’s very much of an ‘ain’t broke don’t fix it’ type of situation at this time. Other of these tools include government regulation measures like mortgage insurance, foreign buyers’ taxes or empty-home taxes.

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The BOC then stated further that they will keep their administered (interest) rate pinned down for the next few years, even if that policy contributes to increasing vulnerabilities. Should those vulnerabilities come around then the Bank would look to other policymakers to contain any growing risks, given that raising rates prematurely would also stunt the recovery.

Wait & See Mode

The average resale price of a home in Canada went up by 18 per cent in August, compared to a year earlier, one of the strongest gains on record despite the ongoing economic crisis. 

Economists are crediting the Bank’s lowering of interest rates this year as a foremost reason for this. It’s been estimated that the drop in mortgage rates over the past year has increased buyers’ maximum purchase price by 24%.

This means greater numbers of qualified buyers are able to get into the types of homes they need for themselves and / or their families, and there shouldn’t be anything that anyone should disapprove of with that.

It’s also true that to this point the federal government has not taken any steps to cool house price growth, and its FTHBIA plan (First Time Home Buyer Income Assistance) is intended to be a ‘demand-side’ policy that would increase the amount of money Canadians can spend on a home. It’s unlikely to reduce house price growth, and it was never expected to do so despite what some people had hoped it would do.

Another very integral factor here is that Canadian cities are suffering from a chronic shortage of housing, and this is pushing up prices. This is something that doesn’t look like it will be going away anytime soon, and it’s a reality that people need to address head on rather than wishing it were otherwise.

BOC Leery of Raising Rates – 500 Billion Reasons Why

The pile of reason the BOC will want not to raise interest rates to slow soaring house prices is a mammoth one. For starters it fears that higher borrowing costs will sink the many people and  businesses who loaded up on debt before and during the pandemic. Next we have them dropping their key lending rate to near zero and buying hundreds of billions of dollars of debt ―  including around $100 billion of federal government debt and billions more in Canadian mortgages.

This was done in an effort to pre-empt what could have been a major financial crisis, something that would be bad for everyone, including those who are displeased with the cost of housing and how it’s a barrier to their getting into the market.

The BOC has also increased its balance sheet by $500 billion since the spring, injecting this much new cash into the economy, in the form of debt owed to the Bank. Central banks have pushed down interest rates, making it more affordable for households, businesses and governments to weather the crisis. This is called ‘quantitative easing’, and while it’s a good thing in the biggest picture it does always cause asset prices to skyrocket.

This is a more detailed and causation view into why Canada’s average home sales prices are soaring in the middle of a pandemic. Can this change in the future? Absolutely it can, but we need to question whether or not that would be a good thing for ALL of us and not just a select few who’d like to see home values decrease.

For the very foreseeable future, that’s not happening.

Sign up for Real Estate Leads here and receive a monthly quota of qualified, online generated buyer and / or seller leads that are delivered to one realtor, and one realtor only – YOU. These leads will be for the region of any city or town in Canada where you are based and practicing real estate. It makes it possible for you to be fast-tracked to being in touch with individuals or couples who are genuinely considering making a move in the local real estate market. Check out our testimonials page to see how realtors just like you are thrilled with what our service has done for them.