Social Media in Real Estate

It's a cunundrum (spelling anyone??).....we tweet, facebook, blog, email, text, advertise in newspapers, magazines, on multiple websites. To be a real estate agent today you have to know all the latest trends! I attended an interesting seminar with a social media (he says there is no such thing as social media) expert named Gary Vanderchuk. The seminar was amazing, but his comments really make you think. Do true buyers and sellers come from tweets and facebook pages? I thought not, but Gary says yes. I have attended many seminars as I believe it is key to keep my education and skills at the highest level possible in order to do an outstanding job. Every one of these seminars said you had to be on Twitter and Facebook, but I never truly "got it" until I heard Gary speak. I am of the "middle age" group of people that are embracing this change with gusto - I love my phone, I love my toys - but I wasn't "raised" with them. I now see that the future buyers and sellers of real estate are being raised on them. Twitter is the new newspaper. I hear the comment regularly that "no one wants to know what I ate for breakfast", and it is true there are those out there that send that type of info into the world. But after using Twitter the last couple of months, what I really see is that it is a newsfeed. You can connect with every business, every company, every group, every individual that has a connection to you, your family or your personal interests. You know when there are changes in companies, when new products are launched, when a new amazing YouTube video is sent out, and now....when new real estate listings are available. It does become an addiction - constantly wondering what's new? Something else I have realized - although millions of people have twitter accounts, they don't actually tweet. They only use them to follow people/companies and news. How soon before we won't know what a newspaper is?

Winter Blah's

Winter seems to be shorter this year (oops, am I speaking too soon?). As Marilyn and I gear up for The Toronto Cottage Life Show in March, we are pouring over our notes, reconnecting with clients, planning our Spring, and getting the word out to get cottages priced now so they can be advertised at the Show. Time has flown by but we are excited for the new season. Winter is a quiet time for making sales, but a wonderful and busy time to organize, reconnect, strengthen our education and improve on systems. You have to be constantly improving and learning in real estate. I will be sad to see Winter go though, it is great to see the snowmobilers whizzing by and enjoying the outdoors, the visitors walking the streets with their Sir Sam's Ski Hill passes and their cross country ski trail passes hanging from their coats, and to smell the fresh crispness of Winter air - there is nothing like it! I don't mind all the dull, grey-brown trees without their leaves because they provide a wonderful contrast to the sparkling white snow. Today the sky seems more blue than usual, and it is definitely a day to enjoy some of that fresh air! But alas, I have to work. Perhaps after work I will get to go for a leisurely walk - Winter will soon be over! I hope that the people reading this are taking the time to enjoy what nature is offering before it is gone. Life is short - don't let the seasons pass you by! There are 4 of them!

Purchasing a Business

I was reading a newsletter this morning about purchasing a business, which got me thinking. We currently have one business for sale, and just completed the very successful sale of another - so what advice can a realtor offer their clients?

Many people dream of owning their own business one day. Investigating the financial aspect is one of the scariest parts of the process. I usually recommend potential buyers look for a line of credit from their bank - low interest, low risk, and usually the simplest form for a small business. Our local Haliburton County Development Corporation (HCDC) offers assistance to high-risk purchasers and are an excellent resource for many types of info for buyers. It is a good idea to make an appointment and have a chat with your local development corporation just to see what options are available to you.

I have listed below some points from remonline.com - a weekly newsletter I receive about real estate. They offer some very timely and informative articles aimed at realtors, but much of their advice can also be directly translated for Buyers and Sellers. The points below were written by the Institutue of Chartered Accountants of Ontario, and please note that I have shortened them a bit to make them appropriate for a blog. A piece of my own advice, suitable to our region: Haliburton County is, for many businesses, a seasonal area. You will need to ensure your Summer income will help cover costs in the Winter, and you will need the personal skills to avoid spending all that money in the Summer. Budgetting will be your best friend! Here are the 7 points from the Institute of Chartered Accountants of Ontario (shortened):

1. Do your homework. Make sure there's a market for your product or service.

2. Shore up your savings. Changes in ownership can mean changes in revenue. Will you have enough to live on while you get the business on track?

3. Do what you know. If you have a shortage in staff - can you chip in and get the job done yourself?

4. Include a price adjustment clause and a full disclosure agreement in the deal (your realtor can explain further why this is so important).

5. Make sure your family supports the plan. Talk things through with your spouse and children. Everyone needs to understand that income and family time may change, at least for a while.

6. Consult the professionals. Lawyers, chartered accountants and business valuators - who will give you the straight goods on the business you are considering, and your suitability for it.

7. Get lots of advice, then make the final decision yourself.

If you wish a copy of the full article, please email me at terry@remaxhaliburton.com and I can scan and email it to you - then - check out the Bulk Food Store we have listed!

Reflection

As the season draws to an end and we are about to begin a new year - fresh and eager to take on the world, I can't help but think of the changes that have occurred in the way we do business. For a good agent - nothing stays the same. We are constantly changing and adapting to new technology, new sources of information, and new expectations by clients - both Buyers and Sellers. Our clients are savvy and information-hungry, take more time to make a decision, and are more cautious - all good things.

As a RE/MAX agent, I feel very lucky to have a vast amount of technology and information at my fingertips. I recently attended a conference in Mississauga and was once again reminded of everything that RE/MAX has to offer us. Texting and QR codes for our signs, websites and advertising, social network linkages, media releases, thorough statistics, extensive websites that are growing by the day, massive marketing campaigns - all this provides "brand recognition" for our Sellers. Brand recognition equates to more exposure for listings, more ways for potential Buyers to find our Sellers' listings. In this technological world - exposure is everything!

The challenge becomes, for the individual agent, in keeping up. Quick responses to enquiries, activating all the possible linkages and taking full advantage of what is out there for our use. Real estate has always been a 7-day a week career, and it is even more so now.

These new technologies and exposure systems are working. In our local market, our RE/MAX North Country offices held 47.5% of the marketshare in Haliburton County at the end of October, 2011, with all other companies combined holding the difference. Every year agents switch companies seeking the best deal for their money, trying to figure out how best to up their game. Reflection is an important part of starting any new year. It helps you to set goals, ensure you are where you want to be. As I look deep into my chosen career - where it has been, where it is now, and where it is going, I am very thankful for where I am, and choose not to be anywhere else!

Wishing everyone out there a wonderful Holiday Season and an absolutely fantastic 2012!!

Condo News

I had a great visit with Gerry Kowalski last week, the developer of Silver Beach Developments on Kashagawigamog Lake (check out the link to the development off my website - http://www.terrylcarr.com/ ) Things have been moving along quickly since the services were installed last year. Several homes/cottages are now built and people have moved in. The beautiful model home - The Northland, has been sold, so Gerry needed to build a new one! The first model home was the largest of the options - over 2,400 sq. ft. plus a finished basement! The new model home is a Southwind model - a very desirable size at 2200 sq. feet, including the basement, with 2 bedrooms and 2 bathrooms. Even though the model home is not quite ready, I got a sneak peak and it is gorgeous! My favourites - the rustic wood mantle in the main living room and the lovely dark cabinetry in the kitchen - with loads of cupboards, of course!

Every one of these homes and townhomes are built with high standards and it is evident as you meander through the model homes or drive around the community. The first and only of it's kind in Haliburton County, this development offers the unique opportunity of mixing cottage country living with city amenities and quality. Some of the people who have already purchased here are using their property as a vacation property - either travelling to other parts of the world in off-season, or simply cottaging on weekends. Other people have sold their long-time cottages on lakes farther from Haliburton and Minden to move to the area permanently. Since Silver Beach is only a 7 minute drive from Haliburton, and about a 10 minute drive from Minden - it's location is excellent for those who want the lake and the town!

Once again I was completely impressed by Gerry's dedication to quality, community and the need to have happy, content people in the development. His success is reflected in the little things - while I was there he received a phone call and was involved in spreading the word of the 2nd annual Christmas party for Silver Beach. I have been there when owners have talked about their shopping trips and card games. The sense of community started long before there was a community and it is a very special thing to sit and watch developments unfold - from dirt and rocks, to a successful, caring and involved neighbourhood! Maybe that is why I am in real estate! I am in it for the happy endings! If you haven't seen it - check out their website or come for a visit. If you have already seen it - take a second look! And come see the NEW model home - it should be ready later this week!

Why List during the Holidays?

Nothing new here - just some tried and true reasons why listing in time for the holidays is better than waiting for the New Year!

1. (Most Importantly) People who look for homes during the holidays are more serious buyers - you will not have as many showings as you would come Spring time, but generally, the people who do come to check out your property are more serious and motivated.

2. Serious Buyers have less listings to choose from, which creates a temporary Seller's market.

3. The supply of listings increases come January creating less demand for your home in particular. Beat the crowd!

4. Houses usually show better when decorated. Over-decorating can be caveat, along with strong-scented candles, but on the whole, decorating provides a warm, cozy and inviting feel.

5. Buyers are more emotional during the holidays, so they are more likely to pay your price (if priced appropriately).

6. Buyers are off work during the holidays and have more time to look around.

7. Some people must buy before the end of the year for financial considerations.

8. January can often be a month where employees being new jobs - transferring to the area. They cannot wait until Spring to buy, so capture that market now.

9. By selling now, depending on your situation, you can request a Spring closing. The Buyer purchases your home while there is little to choose from, and you purchase during the Spring with lots of options (Sell high - Buy low).

10. There are still Buyers looking for that perfect recreational property and they want the transaction to close so they can start using it in Spring - they are running out of time!

The most popular question we get from people is "when is the best time of year to list our property". The answer is simply - a) residential properties - there is no bad time. You never know when that "perfect buyer" is going to come along - there are many reasons why people are purchasing their home and personal lives do not often stick to a season; b) recreational - Spring gets you the eager-beavers, Summer gets a mix, but some have already purchased, and Fall gets you those who are still dying to purchase but couldn't find anything in Spring and Summer. There are good reasons why you should list in each of those seasons. The only season that is tough is Winter. Many cottages have their water turned off for Winter, heat is down, and quite often they are on a seasonal road. Listing in January or February makes the property look like it has been listed a long time, when truly the selling season hasn't started yet. List at the beginning of March so we can market your property at the Cottage Life Show in Toronto - the kick-0ff for the season, but not sooner than March!

It is also easy to have a list of "simple rules" but remember, each situation is completely different. We are, in the end, dealing with people, not just their properties, so it is best to talk your personal situation over with your realtor to create the best individualized strategy, for the best results!

Woodstove

Every cottager wants a woodstove - the smell of a woodstove is second to none and the ambiance is exactly what you want at the lake! One thing I love about real estate is that it is constantly changing, and I am constantly learning. Nothing is static, and I was taught at a very young age by my grandfather that you must learn something new every day! Regulations around heat sources are one of those things that change - requirements get tighter. What passed 5 or 6 years ago for a woodstove, does not meet todays codes. Single-walled pipes now require double-walled, insulated pipes, etc. Now - I am NOT an expert on these things - I sell real estate, not wood stoves, but a recent complication has provided me with one more thing to caution my buyers about. Until recently, we could honestly say that sometimes insurance companies wanted a woodstove "WETT" certified (Wood Energy Technology Transfer) and some companies would simply send one of their own inspectors to the property and it would be satisfactory. Not any more! WETT certificates are now required by most (not sure if it is all yet) insurance companies.

Many cottages have woodstoves that do not meet today's code. For the buyer this means that a sale cannot close until the woodstove is certified, because financing cannot be in place for closing without insurance. Many insurance companies will give a grace period for the buyer to bring the woodstove to code - but not long. If you are unable to negotiate that the Seller gets the woodstove certified, you as a Buyer need to be prepared for the cost. Depending on the issue, you could face anything from a quick fix to replacing the whole stove.

Best advice - during your home inspection, have the woodstove checked for certification. If it needs changes first, find out the costs before signing off on the home inspection. Are you going to pay for it? Are you going to ask for an amendment for the Seller to pay? Are you going to ask to split the cost 50/50? Depending on the situation, there are different ways to resolve the problem, but be prepared. The best purchase is a "no surprise" purchase!