What is agency and agency relationship

When being involved in a real estate transaction with a Realtor you will be in some form of agency relationship. Just as you are with a lawyer. Only difference is Realtors can represent the same party but with a lawyer it could never happen.

Here is the types of relationships:

Seller Representation: The brokerage is representing the seller, and by law do what is best for the seller. Confidences a seller shares must be kept confidential. The seller agent still must be fair and honest to the buyer and also disclose pertinent information about the property.

Buyer Representation: The brokerage is representing the seller, and by law do what is best for the buyer. Confidences a buyer shares must be kept confidential. The buyer agent still must be fair and honest to the seller.

Multiple Representation: Under this representation the brokerage must do what is best for the buyer and seller. Talk about walking a thin line. This is more the case if the same agent is representing the buyer and seller. It is still multiple representation but if it is two sales representatives with the same brokerage in the transaction they can work as a seller and buyer representation to provide best representations to the parties.

These representations must be under contract to exist. Better known as a listing agreement and a buyers agreement.

Occasionally you will also see:

Customer Service Relationship: No representation is given in this relationship. The brokerage  is providing services  with no agreement but must still work in a fair and honest manner.

The brokerage always will disclose these relationships to each the buyer and seller.

Re/max has a new website! Check it out!

We are pleased to announce the launch of the new and improved much anticipated remax.ca!
The slick new site features a beautiful and clean design that matches RE/MAX's stature as the leader in the real estate industry. With higher quality leads, property alerts, and enhanced search engine optimization, RE/MAX is simplifying the home buying and selling process through its restyled and improved website. The new remax.ca now includes listings from an English Canada platform with listings from all provinces (excluding Quebec), the CREA National Shared Franchisor Pool, and RE/MAX Open Access listings.

• Prospective home buyers have a personalized experience through their profile.
• Agent ability to enhance all of your listings with video and photos via LeadStreet.
• Interactive gallery view means potential clients are able to filter their searches on the fly.
• Mobile site is device agnostic – it looks great on all devices!
• Mobile site displays new listings in your proximity. Check out the "new properties near me"!
• Mobile site delivers an ultimate customer experience that includes, driving directions, property alerts, and the ability to share through social media channels, including Pinterest.

Watch this video and share it via facebook.com/remaxoa.
Be sure to visit the new remax.ca today to explore all the great new features available!

Oh My! The sky is falling!!!

 

 

 

Peterborough and The Kawarthas MLS Report Card for October 2012

Here is our numbers for the month of October:

Total number of new listings in October was up 4% year to date
Total number of listings in October was down 3% year to date
Total number of Unit sales in October up 16% year to date
Total number of Unit sales for the year to date is 1%
Total number of dollars sold for the year to date 4%

Total number of current listing as of today 1846.

Looking at our local numbers it seems we are steadily moving forward. Not by leaps and bounds by any means but slowly forward. That is great news. (so the media will never report it with bold letters like they love to when bad news is to be reported).

I hear the word bubble bursting, market crash things like that all the time for the real estate market. That may be the case in Toronto but not here. It will not happen here because we never had a bubble. Very few listings had bidding wars on them in Peterborough. Just a steady flow of sales.

Here is a statement from the Canadian Real Estate Association:

“Sales data in October held steady at the national level, but we are seeing some diverging trends among local housing markets,” said CREA President Wayne Moen. “Markets in Alberta and Saskatchewan are gaining strength, while some of Canada’s traditionally most active markets have lost steam. As always, all real estate is local, so buyers and sellers should talk to their REALTOR® to understand how the housing market is shaping up where they live or might like to live.”

“Little has changed since national activity geared down in the wake of mortgage rules that came into force in July,” said Gregory Klump, CREA’s Chief Economist. “Opinions differ about how sharply sales have slowed depending on the local housing market"

New listing inspections Re/Max November 21/2012

 Three new listings we looked at. 703 Chemong Ave, 1085 Yankee Line and 388 Jopling Lane

New name for Smith Ennismore Lakefield

I stopped today at the Smith Ennismore Lakefield office for the open house on the strategic plan and name change

The open house is open:

Nov. 20th from 3 - 6 pm
Nov. 21st from 5 - 8 pm.

You can vote for the new name at the open house or online (as i was told by staff). I could not find where online to vote but you can start here. Click Here. Let me know if you find it.

The new names that you can vote for are:

1. Bridgeland
2. Chemong
3. Drumlin
4. Lakeland or Lakelands
5. Mapleview
6. Portage
7. Shining Waters
8. Selwyn or Selwin
9. Terracrest
10. Trinity

While you are at the open house you will see some presentation boards displayed for the Strategic Plan. A lot of words on the boards but to a person that is not involved in the plan it makes little sense. A survey is provided on the Strategic Plan that is easily navigated. You can also do the survey at the open house or online. (again I was not able to find the page to vote)

I believe the name change will be announced early December. Click here to see all the name suggestions.

Quick update of our market in October 2012

According to MLS statistics, total numbers of sales in October 2012 is up by 15% over October 2011. Year to date we are still up 1% in number of sales and up 4% in total sales dollars from last year in the Peterborough area. Current number of listing including all categories in the area is 1851. This is down from a little over 2000 listings total in October 2011. Real lack of inventory of listings.

 

The Bank of Canada announced on October 23^rd, 2012 it is keeping kept its key policy rate at 1 per cent, where it has been held steady for two years. This marks the longest period since the 1950s that rates have been left unchanged.

The announcement was similar to those in September and July, including the bottom line that the Bank would still like its next move to be a rate hike. However, the Bank’s tone surrounding the timing and degree of such a move was softened, saying some “modest withdrawal” of current monetary stimulus – read small increase in interest rates– will “likely” be required “over time”.

 

On another note, I write and video great blogs on the market every few days. Check it out at    www.bradpsinclair.blogspot.ca or www.bradsinclair.ca. I also use twitter to pass on interesting      articles throughout the day that I have read in the papers Canada wide. Worth the follow @bradpsinclair.

 

Re/Max Market Press Release 2013 looking steady despite CMHC tighten of rules.

For immediate release

Moderation—not correction—on tap

for Canadian housing markets in 2013, says RE/MAX

Mississauga, ON (November 14, 2012) --

Canadian real estate markets demonstrated remarkable resilience in 2012—

with home sales up or on par in 65 per cent of major centres—despite considerable headwinds in terms of tighter financing and economic uncertainty abroad. The trend is expected to continue, with home-buying activity propped-up by low interest rates and an improved economic picture in 2013, according to a report released today by RE/MAX.

The RE/MAX Housing Market Outlook 2013 examined trends and developments in 26 major markets across the country. The report found that the number of homes sold is expected to match or exceed 2011 levels in 65 per cent of markets (17/26) in 2012, led by strong activity in Western Canada, including Calgary (up 13.5 per cent) and Regina (eight per cent). Eighty-one per cent (21/26) of markets are set to experience average price increases by year-end 2012, with Regina the country’s frontrunner at eight per cent, followed by Hamilton-Burlington, Greater Toronto, and Fredericton at seven per cent and Saskatoon at 6.5 per cent. The forecast for 2013 shows the upward trend moderating, but values still ahead of 2012 levels in 85 per cent (22/26) of centres. Stability is forecast to characterize Canadian real estate in the new year, with sales above or on par with 2012 levels in 81 per cent (21/26) of markets.

Nationally, an estimated 454,000 homes will change hands in 2012, falling one per cent short of the 2011 level of 456,749. Canadian home sales are expected to almost mirror the 2012 performance next year, holding steady at 454,000 units. The average price of a Canadian home is expected to remain stable at $364,000 in 2012—on par with the figure reported in 2011. Values are expected to appreciate nominally in 2013, rising to $366,500, one per cent above year-end 2012 levels.

“Despite all the negativity surrounding residential real estate, the sky is not falling,” says Gurinder Sandhu, Executive Vice President and Regional Director, RE/MAX Ontario-Atlantic Canada. “Home sales have moderated, but remain within healthy levels. Greater optimism is expected to return next year, as the economy marks further improvement. Canadians appear to be reining in their spending, heeding cautionary statements by the country’s financial leaders. We believe that will only serve to shore up the already healthy framework of the Canadian housing market in 2013.”

 

"By midyear,however, the third round

of CMHC mortgage tightening had a noticeable

impact on housing markets, pushing homeownership

beyond the grasp of many first-time buyers."

The report found that low interest rates were a major impetus in 2012, fuelling sales of homes across the board. Tight inventory levels also factored into the equation early in the year, causing a flurry of activity in many centres. By midyear,however, the third round of CMHC mortgage tightening had a noticeable impact on housing markets, pushing homeownership beyond the grasp of many first-time buyers.

The RE/MAX Housing Market Outlook Report also identified several regional disparities. Most notable was the pull back in sales activity in Greater Vancouver. A banner 2011 year and a slowdown in investor activity contributed to the trend in 2012. Yet, moderation was more widespread in the east, with half of Ontario and Atlantic Canada markets (8/16) reporting 2012 sales off the 2011 pace. Strength was evident throughout Saskatchewan, Alberta, and Nova Scotia, where exceptionally sound economic fundamentals drove demand. The Prairies also stood out in price

appreciation, along with the Atlantic Provinces in 2012, and a repeat is on tap for next year. In 2013, Vancouver will rebound to post the strongest sales gain, while the Quebec markets post the sharpest decrease.
 

"Canadians believe in homeownership"

“Looking forward, there are a number of factors on the horizon that will serve to bolster residential activity in 2013,”says Elton Ash, Regional Executive Vice President, RE/MAX of Western Canada. “Canada’s economic performance is expected to show signs of improvement, particularly in the latter half of the year, which should bode well for housing markets across the country. Historically low interest rates will also continue to drive healthy home-buying activity, especially in the move-up segment. Last, but certainly not least, there’s no denying the universal appeal of bricks and

mortar. Canadians believe in homeownership. The stability of real estate over the long-term continues to fuel its appeal.”

While first-time buyers will continue to have a significant presence in the overall marketplace, they are expected to take a back seat in 2013 in Canada’s largest markets—with move-up buyers the new engine driving home-buying activity. The greatest advance in home sales is expected in Vancouver (12 per cent), Calgary (10 per cent), Halifax (five per cent), Kingston (4.5 per cent) and Saint John (four per cent). The strongest upward momentum in average price in 2013 is forecast for St. John’s (six per cent), Regina (five per cent), Kingston (4.5 per cent), and Halifax (four per cent), followed by Fredericton and Winnipeg at three per cent. More balanced market conditions are expected in 2013 throughout the majority of markets, with supply meeting demand.

“The long-term outlook for Canadian real estate remains strong,” says Sylvain Dansereau, Executive Vice President,RE/MAX Quebec. “It has proven so in the past, and it will ring true in the years to come. Canada’s major centres are evolving at a tremendous pace and gaining traction on the world stage. As we look forward, our communities will certainly be more vibrant, more sustainable, while our housing mix focuses on density and diversification. The sheer number of developments planned or underway is staggering. We know the market ebbs and flows—that’s cyclical—but the future for real estate remains quite promising.”

Immigration and population growth will continue to support housing demand moving forward. The Canadian government’s commitment to immigration will hold steady, with the country set to welcome as many as 265,000 immigrants in 2013. The greater focus on economic immigrants is already leading to quicker household formation and

homeownership than in years past. These two factors will also support the burgeoning condominium segment—along with Canada’s aging population—while the desire for tangible assets props up the upper-end.

RE/MAX is Canada’s leading real estate organization with over 19,900 sales associates situated throughout its more than 748 independently-owned and operated offices in Canada. The RE/MAX network, now in its 39th year, is a global

real estate system operating in 91 countries, with over 6,330 independently-owned offices and 88,983 member sales associates. RE/MAX realtors lead the industry in professional designations, experience and production while providing real estate services in residential, commercial, referral, and asset management. For more information, visit:

www.remax.ca or www.bradsinclair.ca

 

 

For more information:

 

Brad Sinclair

 

Re/Max Eastern Realty Inc

 

705.292.9551

 

Christine Martysiewicz Eva Blay/Charlene McAdam

RE/MAX Ontario-Atlantic Canada Point Blank Communications

905.542.2400 416.781.3911

Ennismore Robert E. Young Recreation Comlex upgrades WOW!

It was worth the wait. Ennismore's Robert E. Young Recreation Complex is nearing completion but is now open. The volunteers on this project went above and beyond. They did an unbelievable job. How many hours of work they have in this project only they know, but it has to be tons! Thank you, thank you, thank you, to those people!

Click here for an article by Peterborough Examiner on July 9th http://www.thepeterboroughexaminer.com/2012/07/09/investment-in-ennismore-community-centre

I wish I took before pictures of the arena but I took lots of after. Here is what it looks like:

The old arena. Photo from My Kawartha.

The new look!

Lobby

Dressing room hallway

Dressing Room

Dressing room stick holders

Playing surface redone 2011

 

 

Click here to see the CHEX story on the arena.

 

Meagan Roy Chex Newswatch

Hints to sell your home in the winter and why winter is a good time to sell.

Hi,

I wanted to point out to home sellers that want to sell now but are waiting to spring that there is no need to do this. I have finished a video and then below the video is some winter selling tips. Enjoy!

1. Keep snow and ice cleaned up. First of all you do not want a dangerous situation for a fall. Access for the buyer to see the outside of the house and like the summer it is working curb appeal.
2. Warm the house. Do not cheap out on heat when the house is being shown. Keep the house warm for the buyer. A cold house will turn off a buyer. If you have a fireplace or airtight make sure that it is fired up!
3. Take advantage natural light. Keeping the curtains closed in the winter helps save on heating cost but open them up during showings to let in natural light.
4. Emphasise on winter positives. The road is always plowed when I go to work, the snowmobile trails are down the lake, there is driveway plowers in the area, etc.
5. Use the season to your advantage. Decorate for the holidays but when they are over take them down. You still can us winter wreaths and arrangements around the door. Anything seasonally appropriate is fun!

TD Rate sheet as of Nov 8

Click here for rate sheet

Can someone tell me why my house did not sell? Can you handle the truth?

Can someone tell me why my house did not sell?

I can tell you why it did not sell but you might not like the truth. It maybe the Realtors fault but it is just as much your fault as well. Here is why:

What is the number one reason a house does not sell? Dig deep and answer this honestly. It is price a good majority of the time. If your home is not selling, buyers are thinking the value of the house is less than the price you want. You need to find the "magic" number by having a CMA (comparative market analyst) completed and listen to what it says. The answer is my house is better then all the houses on that CMA is the wrong answer. That is your heart talking not your business brain.

What you "need" from the sale of your home means absolutely nothing to the buyers in the marketplace. Think of it, if you are looking at a house would you overpay because the buyer "needs" the extra money to put down on a larger home? You may laugh at this but sellers say they "need" to me all the time.

Ego also gets in the way. Your neighbour sold for $300,000 last year so you want $320,000 because you "know" that you house is better. Everyone thinks their home is the best home on the street. Unfortunately for sellers, the sellers opinion does not carry any weight with the buyers as the buyers opinion only matters.

Not every reason your home has not sold is the price. The product could also be an issue. Your home must be clean and tidy for all showings. The curb appeal must be at its best at all times during the sale. You will find a million hints on this on the Internet so I am not going to take much time on that.

OK Brad, you have blamed the Seller enough, when is it the Realtors fault????

The Realtor has many blames here as well. Here is what Realtors can do wrong right from the start. In my profession I know that Sellers do not always price the house, the Realtor does. I have seen it when the Seller is thinking of listing the house at $200,000 but the Realtor comes in and says put the house on for $250,000. You are saying WOW this is great, an extra fifty Gs! This is what I call "buying the listing". Some Realtors just want a listing and will tell you what you want to hear to get it. This happens a lot when Realtors are competing for the listing. How not to fall for this is to look at the Realtor's CMA. Does it make sense? Did the Realtor just pull the number out of thin air? Insist on a complete, precise CMA.

Other areas Realtors fail is lack of marketing (Internet NOT paper), bad pictures, bad description, lack of virtual tour. Why is all these things important? Did you know 98% of buyers research their next home on the Internet before contacting an agent. They have already made a decision to look at your house or not on the basis of the above marketing. It must be done correctly.

I can help you with every aspect of selling your home including the correct pricing and the right marketing. If your Realtor is not all over the Internet then your house is not either. It is all about the eyeballs people! The more people that see your house the more money you will get for it with less time spent on the market!

New listing office inspection Remax Eastern November 7 2012

New listing office inspection Remax Eastern November 7 2012

1727 Greenwood Lane

OFFERED IS A VALUE PRICED YEAR ROUND COTTAGE & RETREAT ON BUCKHORN LAKE. THIS PROPERTY IS ONLY 5 MINUTES FROM THE VILLAGE OF BUCKHORN & 20 MINUTES FROM PETERBOROUGH, CONVENIENTLY LOCATED ON THE TRENT SEVERN WATERWAY. THIS 4 SEASON WATERFRONT HOME/COTTAGE IS LOCATED AT THE END OF A DEAD-END ROAD. FEATURES INCLUDE DOCKING & BOAT LAUNCH, TREED NATURAL 3/4 ACRE LOT, 500 FEET OF FRONTAGE, PRIVATE POINT, DETACHED 1.5 CAR GARAGE. THIS 3 BEDROOM, 2 BATHROOM HOME/COTTAGE ALSO FEATURES HARDWOOD FLOORS, WOOD STOVE, TILE IN KITCHEN & WRAP AROUND DECK. FISH RIGHT OFF YOUR PROPERTY. YOUR PRIVATE PARADISE WAITS.

587 Murray St V-tour

 

 

 

RESIDENTIAL - Solid brick 2 storey home located at the top end of Murray Street. This home features 3 bedrooms with closets, detached garage, paved driveway and hardwood floors under the carpet. The home is in very good condition with $6,000. worth of electrical upgrades. It is a wonderful, bright home for your family. Close to many amenities, hospital and great schools. Excellent value!

What will baby boomers do to the real estate market?

http://www.kelownacapnews.com/business/176818551.html

Seller changed their mind about selling after they accepted an offer. Here is what happen.

Seller changed their mind about selling after they accepted an offer. Here is what happen.


Click here for the story!

Week in review Oct 29 to Nov 4

Preview of three power of sales in Peterborough

I needed to preview a few power of sales in Peterborough and one estate sale for a client. Here is what I found.