I live in a very multicultured city which is terrific.  I enjoy foods from many different countries, as probably a lot of people do. However, taking a client through a home where strong lingering odours remain, is not going to ingratiate a potential buyer.  I recall, several years ago looking for a very high end home for one of my clients.  I arranged several viewings, and we are talking homes ranging from $850,000 up to $1,000,000. This was a large, executive and stately home, about 5,000 square feet. It was situated on a very large lot, backing onto a ravine.. and had great curb appeal. Three car garage !! However, upon entering the front door, we were immediately gob smacked with the strong, pungent odour of curry.  It permeated everything. Neewdless to say we didn`t stay around too ... 06/20/2010

A few years ago, I had clients looking for large home, in a nice neighbourhood... after several viewings on various properties, we selected one that seemed perfect for them.  It was about 2,700 square feet, and listed aat $599,000.  We negotiated an offer, and ultimately it was accepted... My clients were ecstatic! We had a house inspection performed by a registered/certifed home inspector, and all was well with the exception of a few minor things that are common. My clients removed all the conditions and we had a firm sale!  As we approacehd the closing date, my clients received a phone call from their lawyer.  In the process of performing a title search to ensure all was in order with the registration of the property, and to search for any liens registered against the home etc.... and... 06/18/2010

Hello everyone, thanks for the great response to my post yesterday.   Thought some of you might like to have a standard starter agreement you can personalize for your individual scenarios you may encounter.  I'm sure I missed some, so you can add your own. Sorry I couldn't save in a Jpg or Tif format so I could attach it... but if you copy and paste this text into a "word" document and adjust the margins... it will be fine. COMMISSION AGREEMENT THIS AGREEMENT between Jane Doe, Vacationing Sales Representative AND John Doe, Working Sales Representative                                                                                                    This agreement covers the period from ____________________ to _____________________. WHEREBY John Doe will act on behalf of Jane Doe in her/... 06/15/2010

We all need a break from time to time, and one important decision facing you before you take that well deserved break... is "who is going to take care of my clients in my absence?" First and foremost, you need someone who is trustowrthy and honest, and has the same ethic you do in the way you conduct your busiiness, someone you can rely on without hesitation and know that your clients are in good hands. The one thing you need without question, is a Vacation Agreement, or Commission Agreement between you and the covering agent, so there is no misunderstanding when it comes to commission... Some things to consider in your agreement are: How much commission are you going to pay on any sale of your listing, or presenting of an offer? If the covering agent sells one of your listings, and rec... 06/14/2010

   Recently, a colleague of mine did an open house on a typical Sunday afternon, but she was perplexed at the poor turnout.  When she was collecting her signs at 4:00 p.m., she then found out why.  A number of them were missing, and had been confiscated by the City of Brampton.  Other open house signs of other agents were still there, but hers were gone.  At first she thought it might have been a terrirorial agent who had removed them, or teenagers with time on their hands.... She called the city the next day and was told they had been confiscated because they were improperly situated.  When she asked how she could retrieve them, she was told they had been thrown out... She offered to pay a "penalty" or fine to get them back... but to no avail. It would seem to me that the City should b... 06/11/2010

      CUSTOM BUNGALOW ON RAVINE LOT IN BEAUTIFUL, HISTORIC NIAGARA-ON-THE-LAKE, ONTARIO                                Historic Old Niagara-on-The-Lake Exquisite custom BUNGALOW in the quaint old town of Niagara-on-the-Lake. This stunning 8 year old custom home is situated on a 64' x 170' lot on a quiet cul-de-sac, within walking distance to town square and the Lake. The open concept floor plan makes it perfect for entertaining or family gatherings. It features a multitude of quality upgrades including cathedral ceilings, gourmet kitchen with granite counters, built-in appliances, counter top range, hardwood, marble and ceramic flooring, and crown mouldings. Professionally finished basement has family room with fireplace and bar, 2 bedrooms, and bath. The beautifully designed and landsc... 06/10/2010

June 3, 2010 -- Greater Toronto REALTORS® reported 9,470 sales through the Multiple Listing Service® (MLS®) in May, representing a one per cent dip from May 2009. In comparison to previous years, this was the third highest May sales result on record."The pace of transactions slowed in May following record-setting sales in February, March and April," said Toronto Real Estate Board President Tom Lebour." Buyers who otherwise would have been purchasing a home in May moved more quickly this year, likely to get ahead of mortgage rate hikes."New listings were up 38 per cent annually to 18,940. The average price for May transactions was $446,593 - up 13 per cent compared to the average of $395,609 recorded in May 2009. The gap between listings and sales has widened, which means there is more c... 06/09/2010

Last week I wrote about the home that was advertised by the agent as "move in" condition, where the trees and bushes were all overgrown... there wasn't a blade of grass anywhere in sight, only weeds, and the back yard was a forest! Inside, there were in the process of stripping wallpaper and painting, so needless to say, it was not "move-in" condition as the agent had advertised. However, the house itself was perfect for my clienets, in terms of location and square footage.  There were many upgrades completed on the main floot and it had a beautiful entry and foyer which looked quite impressive. My clients really liked the property, so I told them we could address the exterior issues, along with the incompleted decorating projects and ask the landlord to remedy them. An offer was prepar... 06/08/2010

Glossary Of Key Real Estate Terms There are a great deal of phrases and terminologies unique to real estate.  Listed below are just a sample of the common terms you will encounter in the process of buying or selling a home.  Take a moment to familiarize yourself with them so you will know where to look if you need a definition. Amortization Period       The actual number of years it will take to pay back your mortgage loan. Appraised Value            An estimate of the value of the property. Conducted for the purpose of  mortgage lending by a certified appraiser. This appraisal is not to be confused with a building inspection. Assumability                 Allows the buyer to take over the seller's mortgage on the property. Chattels                                Personal property which ... 06/06/2010

Canada’s housing market is expected to cool this year and next, but isn’t at risk of falling victim to a U.S.-style foreclosure crisis anytime soon; Canada will continue to do well in comparison to our neighbours to the south. That is because lending practices here are much more sound than in the U.S. The likelihood of Canada having a meltdown like they had in the U.S. is extremely low; This is a combination of the lending practices prior to the peak in 2007 — they were more restrained, better underwriting practices in Canada. We also think there are a number of factors in the Canadian market which have lent themselves to more prudent lending. The HST now factors heavily into home buying decisions in Ontario and is creating indecision. Reviewing the most recent Toronto Real Estate Board... 06/02/2010

Most Sellers I encounter have no idea of how the Selling Commission is allocated, and what it actually covers.  Here is an excerpt from my booklet... A Real Estate Guide for Sellers .... where I try to explain for a better understanding How Commission Is Allocated ... and What It Covers Real Estate professionals are independent business people who must pay fees to their broker, to their boards, and must cover ALL of their business expenses before they acquire net earnings. Most professionals receive an hourly fee for services as the work is done, but real estate agents are paid ONLY when have successfully completed a transaction.  All work leading up to that point, which might include consulting, fee appraisal evaluations, listing, marketing, showing properties, advertising, prospecting... 05/19/2010

All the information that you need is available to you online; Everything about Toronto Real Estate that you could possibly need to know. We are able to calculate the closing costs for your on a residential real estate transaction, down to the penny. The most often asked questions (and emails that I receive) are about the land transfer tax and differences between the homes in the 416 and homes in the 905. There are two different taxes; being the Ontario Land Transfer Tax that applies in all of Ontario and the additional Toronto Land Transfer Tax that I affectionately call Miller Tax. In addition as part of your purchase you may need to deal with a new survey, ( lending institutions have started asking for up to date surveys) and the related legal fees on a purchase. Stan Gelman Lawyer fo... 04/26/2010

   Curb Appeal.... How Important Is It? A vast majority of home buyers decide whether or not to look inside a home, based on their first impressions of the outside... does it have "curb appeal?" ..the view they see when they drive by or arrive for a showing.  You can ensure people want to come inside your home by spending some time working on its exterior appearance, making it inviting for buyers to want to see more. Most potential buyers find it difficult to visualize changes, and often won't take a second look at a home if the first impression does not appeal to them. Often buyers who can visualize changes and may be prepared to make them, expect the realtor to reduce the price of the house to compensate for they work they are planning. As homeowners it is difficult to look at our own... 04/24/2010

Check out this SlideShare Presentation: No Pressure No View more presentations from dpylyp. 04/20/2010

48% Increase in new listings in Greater Toronto Area may help in cooling off the real estate market With 4601 home sales reported by the Greater Toronto REALTORS® through the Multiple Listing Service® (MLS®) during the first two weeks of April, the resale real estate market in Mississauga, Brampton and Greater Toronto area records a 25 per cent increase compared to the 3,681 sales of resale homes recorded during the same period in 2009. New listings increased annually to 9512, a 48 per cent increase, which may help in cooling off the super charged red hot real esate market in Greater Toronto Area. Another factor which might help is the change in Mortgage Rules coming in to effect from Monday, April 19, 2010. The fixed mortgage rates have gone up in the last 2 weeks but variable rates st... 04/18/2010

IT just feels like spring everywhere! Well, The “Bubble” did not burst as promised by so many… Record Sales are reported again by the Toronto Real Estate board with 10,430 units sold in the whole region. This indicates a 69% increase in sales with a jump in the number of available listings to 18,900.(42%) So what does it all mean? People are still competing to buy houses but they are a little more resistant and hesitant about prices. Get The Details here. The CBC decided that I should be interviewed on the evening News regarding the real estate market; Thank you Steven DeSousa and Eric Tang! For those counting this is the third TV interview. We have mortgage money available from Astrum Financial at prime less 90! That means even with the interest rate increase this past week the rate wo... 04/08/2010

Erin Mills ~ Non Residential Areas   By Brian Madigan LL.B.(ORES)Most areas within the Erin Mills community are zoned residential. Other permitted uses include:Institutional ~ for schools, churches and other public buildings,Industrial ~ for moderate or light industry, distribution centres, fabrication and similar purposesCommercial ~ for office and related usesRetail ~ for commercial and retail trade with the publicSchools have been placed adjacent to parks. Churches, in fact, in one location have their own "church campus", sharing parking facilities and so on. That was established in the early 1970's. The campus is at Burnhamthorpe and Glen Erin. Subsequently, there have been single, isolated locations for individual churches within the Erin Mills community.The initial plans called fo... 04/06/2010

Benefits of Buying a Condominium in the Community of Port Credit, Mississauga, OntarioMore and more homebuyers are turning to the condominium lifestyle in Ontario today. In the Greater Toronto Area, the Community of Port Credit in the City of Mississauga, is a highly desirable location for buyers wishing to live the condominium lifestyle.Port Credit condominiums offer: Close proximity to the City of Toronto Close proximity to the airport Culture, recreation and natural beauty abound Trendy downtown core offering the best in restaurants, shops and professional businesses Excellent heath care facilities Waterfront activities such as fishing, boating and sightseeing Condominium ownership can appeal to both those leading a fast-paced lifestyle, as well as those who are retired and enjoying ... 04/04/2010

Living in Port Credit, a Lakeside Community in MississaugaPort Credit began as a trading post in the 1700s. Situated at the mouth of the Credit River on Lake Ontario's northwests shore, it was originally a fishing port and a prominent trading centre where settlers and natives brought their grain and other agricultural products to trade with others. A lighthouse was built on the banks of the Port Credit Harbour in 1882 to help boaters who came in by Lake Ontario. The lighthouse perished in a fire in 1936.An Inn was built in the late 1700s to serve the travelers who came from a long distance to trade their goods.A village plan was put forth in 1834 and from there Port Credit grew to officially become a town in 1961.In 1974 Port Credit became a part of the City of Mississauga.The west bank... 04/04/2010

Erin Mills ~ The Housing Stock   By Brian Madigan LL.B.(ORES)The housing stock in Erin Mills is broad and varied. Initially, the homes were constructed in the early 1970's and gravitated to the earth tone appearance. To some extent, the location was still "out in the country" and by far, most of Erin Mills' 8,000 acres remained as farmland.Townhouses, both stacked and row, semis and small detached were the first entrants. Now, when I say small detached, the houses were all much larger than you might find in the west side of Toronto. To some extent that was the bonus, a bigger house, a bigger yard and new construction. That made the new development particularly appealing to young families. The next big plus was the school system. In Ontario, there are two separate and distinct publicly f... 04/02/2010