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August 14, 2017

 

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OREA to reinvent itself as watchdog for housing industry regulator

 

Mortgage Broker News
Citing the need for an advocate for the province's beleaguered consumers, the Ontario Real Estate Association (OREA) announced its intention to repurpose itself as a "watchdog" for the housing industry's provincial regulatory body, the Real Estate Council of Ontario (RECO). Moving away from its previous role as RECO's realtor training body, OREA said that it will henceforth serve as "the voice of the real estate industry" as well as an active campaigner for home ownership in the province.  READ MORE
 

Stats show buyers afraid of real estate market in Mississauga and beyond

 

Insauga
Who's afraid of the real estate market? Quite a few buyers, apparently! The Toronto Real Estate Board (TREB) recently announced that GTA realtors reported 5,921 residential transactions through TREB's MLS system in July — that's down a whopping 40.4 per cent down on a year-over-year basis (mostly led by the detached housing market in Toronto and surrounding cities).  READ MORE

How to avoid the universal law that is hurting your reputation

 

REM
Michael Krisa shares an important rule for establishing that most important of agent-client relationship fundamentals: trust. Do you feel as if clients see your job as a real estate agent as a true professional position? If not, watch this.  READ MORE

 

 

 

 

Study finds Airbnb eating up housing supply in major Canadian cities

 

CTV News
New research suggests a small number of large commercial property owners are the most successful on Airbnb and are eating up the local supply of housing in Canada's three largest cities in the process. A team of urban planners from McGill University looked at Airbnb trends in Montreal, Vancouver and Toronto and noted a 50 per cent increase in the number of short-term rental properties year over year.  READ MORE

Canadian real estate prices will fall 28 per cent by 2020, according to this model

 

The Huffington Post
We get a few dozen emails weekly asking where we think Canadian real estate prices are going to be in the next few years. We can't see the future (yet), but we can help you understand some of the financial models used to hypothesize these things.  READ MORE

New condo sales explode in the GTA

 

Insauga
A few short years ago, armchair real estate experts wrung their hands about the condo explosion that was overtaking Toronto and the GTA (particularly Mississauga) and claimed that buyers would be left with low-value units in a vastly over-saturated market. It appears that fate has not come to pass.  READ MORE

Turn your support staff into stars

 

REM
Your administrative assistants want to be admired and appreciated for the work they do. When you (as their employer) make the effort to give praise for work well done, in turn, your support staff will seek out ways to increase and improve their performance for you.  READ MORE
 

 

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Real Estate Update


Connect with MREB

Recent Issues | Subscribe | Unsubscribe | Advertise | Web Version 

Radek Meljon, MultiView Canada, Vice-President & General Manager, 289.695.5394 | Download media kit
Oliver Kirby, MultiView Canada, Senior Content Editor, 289.695.5401 | Contribute news

The Mississauga Real Estate Board
3450 Ridgeway Dr #1 | Mississauga, ON L5L 0A2, Canada  | 905.608.6732 | Contact Us 

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July 17, 2017

 

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The real estate agent's guide to winning over customers and closing more deals

 

REM
The typical real estate agent seems to have earned a reputation for being a shrewd negotiator but also as someone who is also less interested in their customers and more interested in making a good deal. Perhaps it's for this reason that potential homebuyers are often skeptical by the time they meet a real estate agent.  READ MORE

Demand for rental apartments in GTA reaches record high

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Insauga
Although home prices are declining month-over-month (but not year-over-year) and sales are decreasing in Mississauga and surrounding cities (a sign of returning balance, experts say), the rental market still appears to be on fire. A recent report released by Urbanation, an organization that specializes in the Toronto and GTA condo market, revealed that condo rents have grown by 11 per cent to surpass $2,000 for the first time.  READ MORE

Ontario developers form group aimed at mitigating housing reform

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Globe and Mail
A group of high-powered Toronto real estate developers has banded together to hire lobbyists in an effort to persuade the Liberal government to water down its sweeping reforms to the Ontario Municipal Board, the province's controversial land-use tribunal, and other changes to housing policies. Kathleen Wynne's government unveiled reforms in May that would dramatically rein in the OMB's extensive powers, replacing it with a new tribunal that would be much more deferential to the wishes of local municipal councils. Critics had long complained the OMB was too quick to side with developers in the disputes it presided over, such as fights in Toronto about how tall condo towers could be.  READ MORE

 

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OREA: Government should act now to make housing affordable for millennials

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Mississauga.com
With home sales and prices taking a dip in recent months, now is the time for the government to increase the housing supply to make purchasing a home affordable for the millennial generation, according to the CEO of the Ontario Real Estate Association (OREA). With the average GTA home price standing at $793,915, up about six per cent from this time last year, purchasing a home in this area is something that is still far from a realistic option for most young people.  READ MORE

Escalation clauses aren't worth the risk

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REM
"I will pay $5,000 more than the highest offer received." This is what is known as an escalation clause and it has been developed to give a person in a bidding war an advantage over the other bidders. It usually will also include a "cap" such that the maximum price to be paid will not exceed a certain amount. The question is whether escalation clauses are permitted in an Ontario bidding war where agents are being used.  READ MORE

Foreign real estate buyers in Ontario small in number, figures show

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Toronto Star
Less than five per cent of the 18,282 real estate deals in the Toronto and Golden Horseshoe area involved foreign buyers in the month after a new tax targetting them was introduced, the province reports. The Liberal government implemented a 15 per cent "non-resident speculation tax" in April, along with a number of other measures to help combat skyrocketing prices amid surging demand.  READ MORE

Toronto area home sales plunge most in 8 years

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Brampton Guardian
Home sales in the Greater Toronto Area plunged 37.3 per cent last month compared with a year ago, the largest drop in eight years, the city's real estate board said following the introduction of rules aimed at cooling one of the hottest housing markets in North America. The Toronto Real Estate Board said 7,974 homes changed hands in June while the number of new properties on the market climbed 15.9 per cent year-over-year to 19,614.  READ MORE

What higher interest rates mean for real estate, debt and the economy

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Maclean's
Announcements from the Bank of Canada are rarely something to get excited about, but this one is shaping up to be different. For the first time in seven years, the central bank could actually raise interest rates. Officials have strongly signalled over the past couple of weeks that a hike is coming on the back of positive economic data. For many economists, an increase is a foregone conclusion, and the bigger question is whether governor Stephen Poloz signals more tightening is on the agenda.  READ MORE

 

 

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Recent Issues | Subscribe | Unsubscribe | Advertise | Web Version 

Radek Meljon, MultiView Canada, Vice-President & General Manager, 289.695.5394 | Download media kit
Oliver Kirby, MultiView Canada, Senior Content Editor, 289.695.5401 | Contribute news

The Mississauga Real Estate Board
3450 Ridgeway Dr #1 | Mississauga, ON L5L 0A2, Canada  | 905.608.6732 | Contact Us 

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Toronto Sun
A realtor's livelihood depends on building long lasting relationships with people. Realtors are optimistic, outgoing people but lately a lot of them are getting angry. They're mad at reports of a few real estate agents abusing the trust of Ontarians looking to achieve the Canadian dream. And we want the rule breaking to stop. That's why leaders in the real estate profession are fighting for higher professional and educational standards.  READ MORE

New townhouses coming to Streetsville in Mississauga

 

Insauga
As Mississauga moves forward with this vision of "building up rather than building out,” it is inevitable that in order to densify, it needs more diversified housing forms — like townhouses and other housing forms — shifting away from the single detached homes we traditionally have seen.  READ MORE

How do you hire the right staff for your real estate business?

 

REM
"Some days the best thing about my job is that the chair spins." This is the quote that is on a card I am delivering to a new administrative assistant this afternoon. She just started two weeks ago for the No. 1 team in the brokerage and everyone is hoping that she enjoys taking on the role more than the last lady. One year prior I helped the team train their new hire Melinda; a few months later, they let her go.  READ MORE

 

 

Ontario studies ethics crackdown for real estate agents

 

Globe and Mail
The Ontario government is considering doubling the maximum fines for real estate agents accused of unethical behaviour to $50,000, saying there are concerns the industry's modest penalties are being written off as a cost of doing business. The province has also unveiled a proposal to prohibit realtors from acting on behalf of a buyer and a seller in the same transaction, saying in a discussion paper that so-called double-ending can "make it challenging" for the same agent to act in both clients' best interests.  READ MORE

More first-time home buyers putting purchases on hold after Ontario introduces new measures

 

Toronto Star
First-time home buyers appear to be delaying their purchases in the wake of the province's new policies intended to cool the housing market. At the same time, consumers buying new construction homes are overwhelmingly opting for lower-priced condo apartments and stacked townhouses.  READ MORE

The sweet spot for getting referrals

 

REM
In this short video, David Greenspan says if you want to keep generating referrals, you can't just up and disappear after the deal is signed but before closing. Your clients may need you then more than ever and if you keep helping them out, it can pay off handsomely.  READ MORE

Ontario government considers review of preferential condo sales

 

Globe and Mail
The Ontario government is considering a review of preferential sales practices for pre-construction condos as part of its wide-ranging reforms of the housing market. In a practice that has quietly become standard in the Greater Toronto Area, insider real estate agents are often given selective, early access to multiple allocations of units in new condominium developments before they are made available to the broader community, a Globe and Mail investigation recently found.  READ MORE
 

 

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Real Estate Update


Connect with MREB

Recent Issues | Subscribe | Unsubscribe | Advertise | Web Version 

Radek Meljon, MultiView Canada, Vice-President & General Manager, 289.695.5394 | Download media kit
Oliver Kirby, MultiView Canada, Senior Content Editor, 289.695.5401 | Contribute news

The Mississauga Real Estate Board
3450 Ridgeway Dr #1 | Mississauga, ON L5L 0A2, Canada  | 905.608.6732 | Contact Us 

Learn how to add us to your safe sender list so our emails get to your inbox.

 
 
 
 

 

 
 

 

 

 

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Mississauga Real Estate Board
3450 Ridgeway Dr #1
Mississauga, ON L5L 0A2, Canada
Phone: 905.608.6732
Fax: 905.608.9988