Toronto Real Estate Blog - Toronto Commercial and Residential Real Estate

So I'm ready to buy 8i...

Sam Kamoutsis (PLANiT Real Estate Inc.) — Mon, 18 Feb 2008 07:14:52 -0600

Go to the site
Choose New Customer
Choose Canada
Ontario
Toronto MLS

and voila!

"Page Not Found

The information you requested may have been removed or assigned to a different area. Please try our homepage or you can try the following to locate the content:

Use the navigation at the top of the site to find the section that interests you.
If you entered the URL into the address bar, please ensure that there were no spelling mistakes. "

Ooops! Not for sale in Canada!

Sam Kamoutsis
Broker of Record

PLANiT Real Estate Inc. Brokerage
658 Danforth Ave, Suite 401, Toronto Ontario M4J 5B9
Tel: 416-951-0110 Fax: 416-628-6860

Let's chat! Check to see if I'm online at http://www.PLANiTRealEstate.com

More sites to serve you the best we can!
New Properties for Sale... www.PLANiTRealEstate.com
Toronto's Complete Commercial Website... www.ICI-Toronto.com
Toronto's Real Estate Property Search Site... www.HomePortal.ca

If you are or anyone you know is ready to sell or buy real estate, we would be happy to assist them. A referral reward program is available to all. Thank you for helping us serve you better!

Finally Top Producer 8i is here!

Sam Kamoutsis (PLANiT Real Estate Inc.) — Mon, 18 Feb 2008 07:08:33 -0600

Here it is!

After an extensive beta training period, Top Producer 8i has been finally released!

Has anyone been notified yet?!?

We expect much from Top Producer! They are leaders in real estate industry systems and a move to a true web application id the way of the future.

This platform alone allows for multiple tabs and windows and speedier response time. Some of the other tidbits are that they have added some drag and drop functionality and have included some basic business metric tools.

Top Producer 8i is supported by it's strong foundation of relationship management as well as transaction management.

Current users of Top Producer Software will have few problems migrating to Top Producer 8i. There will still be a need for Top Producer Training for all proficiency levels.

This blogspace will be used as we move to 8i. Happy posting! We want your input and feedback to make this transition smoother!

Sam Kamoutsis
Broker of Record

PLANiT Real Estate Inc. Brokerage
658 Danforth Ave, Suite 401, Toronto Ontario M4J 5B9
Tel: 416-951-0110 Fax: 416-628-6860

Let's chat! Check to see if I'm online at http://www.PLANiTRealEstate.com

If you are or anyone you know is ready to sell or buy real estate, we would be happy to assist them. A referral reward program is available to all. Thank you for helping us serve you better!

Fight 100% Land Transfer Tax Increase

Sam Kamoutsis (PLANiT Real Estate Inc.) — Tue, 26 Jun 2007 21:35:14 -0500

Ask Clients to Fight 100% Land Transfer Tax Increase

Stop Toronto Land Transfer Tax: Your Help is Crucial

June 2007 -- Your help is needed! The City of Toronto wants to charge a second land transfer tax that would NOW double the current provincial land transfer tax. This could impact real estate markets, YOUR business, and YOUR CLIENTS. The proposal is moving forward quickly so it is critical that City Council hear from REALTORS® NOW. City Council will vote on this in mid-July.

Options to Help Fight Toronto Land Transfer Tax

1. Encourage your clients, friends, family and colleagues to email the Mayor and City Councillors with their opinions. It is VERY important that the Mayor and City Councillors hear from REALTORS® AND the general public. As a REALTOR®, you likely have many contacts that will be impacted by this tax who may appreciate being informed. CLICK HERE and an email that you can send to your contacts will be opened with a message that will include a link to make it easy for them to email the Mayor and City Council (You only have to add your contacts' email addresses). Alternatively, you can click here for a flyer that you can print to hand out or download to email.

2. TREB is asking you to once again send an email voicing your concern about this proposal to the Mayor and all City Councillors by CLICKING HERE (even if you previously sent an email)

• (An email with the Mayor’s and all City Councillors’ email addresses already added will be opened. You just have to add your opinions and send the email). Once you have sent your email to Toronto City Council, see below for information on other ways you can help.

3. Send an email to your MPP: Click here to go to OREA’s special web site that will look-up your MPP and supply you with an already drafted letter to email telling them to take action.

• OREA is assisting TREB’s efforts on this issue by asking all Ontario REALTORS® to send an email to their provincial politicians. The provincial government has the power to intervene on this issue and prevent the City of Toronto from imposing this tax.

4. Attend the Toronto City Council meeting in July:

City Council is scheduled to vote on this proposal at their meeting scheduled for July 16, 2007. Anyone from the public is allowed to attend this meeting to OBSERVE (As previously noted by TREB, public deputations were heard by the City's Executive Committee on June 25th, 2007). It is important that the public gallery be full with people concerned about this proposal because this helps to send a strong message to City Councillors and the media that the public does not want this tax. TREB encourages you to attend this meeting and to inform your clients about it.

Meeting Details:

Location: Toronto City Hall, 100 Queen Street West, Council Chamber
Date/Time: July 16, 2007, 9:30 a.m. - Please note that this is the start date of the City Council meeting, but these meetings often run for multiple days and it is not yet known at what point the land transfer tax item will be debated. TREB will provide more detailed information once it becomes available.

More Information

Under the City’s proposal, Toronto homebuyers would have to pay a second land transfer tax at rates identical to those currently charged by the Province, as follows:

0.5% up to $55,000
1.0% for value between $55,000 and $250,000
1.5% for value between $250,000 and $400,000
2.0% for value above $400,000

TREB has been fighting against this proposal.

06/26/07

Note to users: Although TREB endeavours to ensure the accuracy and timeliness of information, it is not guaranteed. TREB accepts no responsibility for any loss arising from any use or reliance on the information contained herein.

Sam Kamoutsis
Broker of Record

PLANiT Real Estate Inc. Brokerage
658 Danforth Ave, Suite 401, Toronto Ontario M4J 5B9
Tel: 416-951-0110 Fax: 416-628-6860

Let's chat! Check to see if I'm online at http://www.PLANiTRealEstate.com

If you are or anyone you know is ready to sell or buy real estate, we would be happy to assist them. A referral reward program is available to all. Thank you for helping us serve you better!

OwnHomeShare - New Vacation Concept! Join us for the Next Sale: July 1, 2007!

Sam Kamoutsis (PLANiT Real Estate Inc.) — Fri, 20 Apr 2007 06:42:31 -0500

Now... Buying a Vacation Spot Anywhere in The World is Possible!

Welcome to OwnHomeShare^TM (OHS)

OwnHomeShare is a new, unique ownership concept that gives vacations and real estate a new meaning! It combines the best of the Recreational Real Estate, Home Ownership and Property Exchange.

Our clients, millions of people just like YOU, would love to own a small vacation property close to a sandy beach or on a mountain. Our clients hate paying large amounts of money to hotels. OHS gives you an alternative solution!

Our clients hate paying large amounts of money to hotels, while getting a room with no view, no kitchen and than can only sleep three (3). A family of four (most families have 4 members) will have to pay for two (2) rooms to be able to enjoy a decent vacation.

OwnHomeShare comes to correct this problem and give you an alternative solution! Keep on reading... You will absolutely love what we are just about to reveal to you!

Vacationing in a country like Greece, Italy, Turkey, Cyprus, Bulgaria and other Balkan countries, will cost a family of four between $5,000 to $10,000 a month or more, which includes accommodations and meals. The average room will rent from 40€ to 250€ a day, depending on the season and location. Your hotel bill will be anywhere from 1.200€ to 7,500€ a month! Meals are usually extra and dining out every day, 3 times a day can create a financial problem. (1€ = $1.35 US as of April 07).

We have a great offer for you!
Would you like to own a property that fits 4 or more, has its own kitchenette and bathroom with a shower? Do you like to spend summer or winter months at your property right on or close to a beautiful beach or on a mountain?

And how about this?
Do you want to own a property which you can transfer, lease it or rent every year, generate income or maybe even sell it after a few years for more than you bought it?

Or...
Are you interested in low cost investments? Buy a few properties and let us run them for you! Generate income that supports your lifestyle!

Also...
OwnHomeShare clients participate in our Unique Property Exchange network! One year you could be vacationing on the island of Corfu, the next in beautiful Mykonos and the year after sunbathing on a Black Sea beach in Bulgaria. By the easy, your property you own is near a white sandy beach in Crete...

Best of all...
Do you want to do all the above while receiving income from your investment? Just because you use OwnHomeShare, we lease out your unit for the months it is not in use? You will actually GENERATE INCOME from this property all year round!

This is what we call REAL ESTATE!There is only a finite amount of Land on earth. History proved that Land Values have always gone up and most likely will continue to do so in the future.

Your income pays off your property's maintenance fees, taxes and utilities and a portion of the leftover funds go into your bank account. OwnHomeShare will deposit money in your account every year, year after year! Spend it while you are in the country, use to buy another investment, or simply withdraw and use your money as you wish!

Income Guaranteed!

Too good to be true?
IT IS TRUE! OwnHomeShare is a unique ownership concept that gives recreational real estate a new meaning!

Buy Your Next Vacation Property from OwnHomeShare!

FOR MORE INFORMATION VISIT http://www.OwnHomeShare.com

Agents Welcome!

Sam Kamoutsis
Broker of Record

PLANiT Real Estate Inc. Brokerage
658 Danforth Ave, Suite 401, Toronto Ontario M4J 5B9
Tel: 416-951-0110 Fax: 416-628-6860

Let's chat! Check to see if I'm online at http://www.PLANiTRealEstate.com

If you are or anyone you know is ready to sell or buy real estate, we would be happy to assist them. A referral reward program is available to all. Thank you for helping us serve you better!

Why Sign a Buyer Agency Agreement? Lesson Learned...

Sam Kamoutsis (PLANiT Real Estate Inc.) — Sun, 08 Oct 2006 00:56:04 -0500

OK... I just have to get this off my chest. I need to feel better and learn the lesson.

And here's the story.

I was working with a client since December. In January, we signed a Buyer Agency Agreement that was valid for 90 days. Although I forgot to renew it in March but we kept on working till beginning of September. My service to them continued non stop for months, most of the time on a daily basis.

My client's requirements were quite difficult to satisfy: find a place to accommodate all 10 members of the family, the property had to be new or fixed up and close to the 600K range. Well, we spent a lot of time seeing properties with no luck. I advised the client to raise their price and we started looking in the 800K range.

I must have shown them 50 homes or more because they wanted to see "everything", big and small, knockdowns, side by side homes, new construction and land. I worked my ass off and usually had to visit them after 11 pm at night because some of the family memebrs returned from work too late. I spent hours and hours away from my family in order to accommodate their needs.

Evenutally, we did put in 4 offers on cetain properties. They signed the Buyer Agency Agreement in January 2006 for 90 days. We attempted an offer on a property in February 2006 with no luck. The price was too high and our offer was too low. The client was still under contract. The 4th and last offer we pursued was in the beginning of summer but as mentioned the Buyer Agency hadn't been renewed.

After the house came off the market, and while we were still looking for properties and emailing and calling each other back and forth and she is telling me "find me a property", they went back privately to the expensive house we had put in an offer in February, and bought it directly from the Seller!

Even with hundreds of emails, of confirmations, of showings, of logs of what we have seen, of offers on properties we pursued, because I forgot to renew the Buyer Agency agreement, I will not be able to claim the $21,000 of commissions owed and I have to bite the bullet!

Well, I promise you thing: NEVER AGAIN...

Lesson Learned
Make sure your Buyer signs the Buyer Agency Agreement! You never know when the client will screw you...

Personal Feelings
Is the job and time of a Real Estate Saleperson not worth anything?

Solution
The Buyer Agency Agreement should be mandatory for all.

Life goes on... doesn't it?

Sam Kamoutsis
Broker of Record

PLANiT Real Estate Inc. Brokerage
658 Danforth Ave, Suite 401, Toronto Ontario M4J 5B9
Tel: 416-951-0110 Fax: 416-628-6860

Let's chat! Check to see if I'm online at http://www.PLANiTRealEstate.com

If you are or anyone you know is ready to sell or buy real estate, we would be happy to assist them. A referral reward program is available to all. Thank you for helping us serve you better!

Want to be a Renovator? (or the answer to "why you should contract your renovation out")

Sam Kamoutsis (PLANiT Real Estate Inc.) — Sat, 07 Oct 2006 21:46:06 -0500

Today I am going to offer small advice to "amateur renovators" (can there really be such a bread of creatures?) taken from personal experience (feel free to add you own tips and stories):

1) Estimate the renovation costs.
This is the most difficult task to accomplish.  What are the prices of material? How much money will I need? How much time will I need?  What is expensive and what is a good deal?
If this first task is too difficult for you to accomplish, do yourself a favour and contract the job out.  You will gain years of life at the end...

2) Can you do the work or any part of the work yourself?
Always factor your time in the expenses! If you can make $100 doing something else, do it and contract out your renovation to someone else.

3) Choose a smaller supplier
They are way more thankful store owners than Home Depot at which you find your neighbor (you know who) giving you "expert advice"! If they were seriously good in plumbing and electrical, why wouldn't they been doing the job instead? Save yourself a buck and let the contractor run 10 times to pick up nails and glue and cement and annything else they need...

4) Pay for all your permits
... or do us a favour and cover those windows. Large and heavy renovations should be approved by the city or they will come after you, even years later... It is wise if your left hand does not to know what your right hand is doing.

5) Licensed vs non-licensed trades
When in doubt, play it safe!

6) Use a competent real estate agent
Not all agents are the same. Find one who understands your goals and can help you through.  Not all renovations pay...

And some quicky-tips:
- Demolition is somewhat easy as long as you know where to stop...
- Get cheap labour from hotels and coffee shops early in the morning
- Cleaning up is also easy. Dump the garbage yourself...
- Protect your bins! Neighbours tend to think you won't mind if they dump all their garbage in your bin.
- Never ever pay by the hour, unless you are an SOB and every hour of every day you'll stand above their heads!
- Always ask: "...and when will it be done by?"
- Always get a serious answer to the question: "what happens if it's not ready by then?"
- Why not? Sign a contract!
- Take a video and before - after pictures
- If you do not want receipts and pay under the table, at least take a video of the contractor working.  When at court later, you can at least prove that the idiot actually worked for you and "it is his fault your honour"...
- Gather all receipts.
- Do some calculations and see if it is worth your time and effort. Ask yourself: should I do this again?
- Work with a competent agent that can advise you all the way through

I invite you to briefly tell us our horror story!

Help us learn... No need to reinvent the wheel...

Sam Kamoutsis
Broker of Record

PLANiT Real Estate Inc. Brokerage
658 Danforth Ave, Suite 401, Toronto Ontario M4J 5B9
Tel: 416-951-0110 Fax: 416-628-6860

Let's chat! Check to see if I'm online at http://www.PLANiTRealEstate.com

If you are or anyone you know is ready to sell or buy real estate, we would be happy to assist them. A referral reward program is available to all. Thank you for helping us serve you better!

Buyer Tip #1 - Reasons Buyers use to lower Purchase Price - Add yours...

Sam Kamoutsis (PLANiT Real Estate Inc.) — Sat, 23 Sep 2006 22:52:26 -0500

What are Buyers mostly negotiating for
(% of buyers who would negotiate money off the purhase price)

1.
Roof needs replacement (usually $3000-$7000)

2.
Electrical Systems are not built to code (replacement cost from low $1500 to many thousands)

3.
Dampness, rot and mould (suprisingly low in importance - maybe because not easily identifyable!)

4.
Length of leasehold (shorter terms preferred - many want easy out)

5.
Fence dispute (although most cases I have seen its a deal breaker)

Added from comments:

6. Flooring

7. Simply want a better deal

- - -
Let's educate our clients:
In your experience, what other important issues have you seen Buyers using to lower their purchase price?

Is it scorrect for Buyers to lower the price because of decoration? What's your advice?

Sam Kamoutsis
Broker of Record

PLANiT Real Estate Inc. Brokerage
658 Danforth Ave, Suite 401, Toronto Ontario M4J 5B9
Tel: 416-951-0110 Fax: 416-628-6860

Let's chat! Check to see if I'm online at http://www.PLANiTRealEstate.com

If you are or anyone you know is ready to sell or buy real estate, we would be happy to assist them. A referral reward program is available to all. Thank you for helping us serve you better!

Bridging the Gap between Tenants and Landlords

Sam Kamoutsis (PLANiT Real Estate Inc.) — Thu, 21 Sep 2006 08:08:45 -0500

Every landlord will pay a premium to purchase a property in which tenants will line up to live in. But, as a landlord, do you know what is important for your tenants? Is it the location? Schools? Transportation?

There is a gap between what a landlord thinks is important for the tenant and how tenants "buy" into a lease. Here is what your tenant thinks is important by priority:

Distance from public transport
Distance to shops
Local crime rate
Distance from work
Noise pollution
Distance from green spaces
Distance from restaurants or bars
Distance from social housing
Distance from sports or gym facilities
Distance from good schools
Prestige associated with street or postcode

Of course, these have nothing to do with the condition of the property which is as important as the amount of lease payments and terms.

Oh, and don't forget: happy landlords always have good tenants!

Sam Kamoutsis
Broker of Record

PLANiT Real Estate Inc. Brokerage
658 Danforth Ave, Suite 401, Toronto Ontario M4J 5B9
Tel: 416-951-0110 Fax: 416-628-6860

Let's chat! Check to see if I'm online at http://www.PLANiTRealEstate.com

If you are or anyone you know is ready to sell or buy real estate, we would be happy to assist them. A referral reward program is available to all. Thank you for helping us serve you better!

Are Today's Home Buyers Set Up for Failure?

Sam Kamoutsis (PLANiT Real Estate Inc.) — Wed, 20 Sep 2006 07:35:58 -0500

We are seeing it across the world... A big chunck of those getting into Real Estate and home ownership today are not going to make it! It has become more difficult to stay into market as new, young buyers are insecure, over-taxed and debt-ridden.

New and Young buyers are strapped with increased expenses and living on a two salaries is just not going to cut it. Remember we used to talk about single salaried families. Weel, now two salaries in a family are not enough. Having two kids, two cars and with the increasing prices in food, gas, and insurance, no wonder we can't make it.

In England, a poll shows that all generations are concerned about the economic position of young people. A very large majority think that it is now more difficult for younger people to get started in life than it was for their parents. Only 11% think that today's young people find it easier.

But really why has it become so difficult? The Banks and Mortgage companies have made it so easy for new buyers! 0% down and the lowest interest rates in decades: all these 'gimmicks' trying to get people to enter the housing market have led to a huge increase of Power of Sales and Foreclosures. Look at the stats: in certain areas in Canada, the foreclosed rate has doubled since last year and, believe me, it will continue to rise! Hey, those with money, hold for a couple of years and you will remember me... Those who knew the stock market was going to crash in 2000, were patiently waiting. When things turns, almost "every" Internet investors money, simply changed hands. I am sure 90% of those reading this article, lost money in some sort of stock in 2000.

Mortgage Fraud! This is where the problem lies. It's everywhere. Do not take advantage of this. If you cannot make the mortgage payments, stay out of it.

Really... How good is a 30 year mortgage repayment over a 25 year repayment? How deeper in debt and interest payments cn you get? A great name for this plan may very well be: "MPF - Mortgage Payments Forever!"

I am not a doomsday believer. I simply believe it will get gradually worse. My advice: stay within your means! Hey, if you can't buy a house, DON'T. Big deal! Don't forget: the grass is not always greener on the other side Home Ownership has it's own problems!

Sam Kamoutsis
Broker of Record

PLANiT Real Estate Inc. Brokerage
658 Danforth Ave, Suite 401, Toronto Ontario M4J 5B9
Tel: 416-951-0110 Fax: 416-628-6860

Let's chat! Check to see if I'm online at http://www.PLANiTRealEstate.com

If you are or anyone you know is ready to sell or buy real estate, we would be happy to assist them. A referral reward program is available to all. Thank you for helping us serve you better!

Are Real Estate Trainers really important to our business?

Sam Kamoutsis (PLANiT Real Estate Inc.) — Thu, 14 Sep 2006 19:53:23 -0500

I get bombarded daily with email by all these real estate champions, real estate gurus, consultants and others that are going to show us the way to wealth and riches! (I wonder why they all turned to consulting....)

All these kits and packages and books and CDs and DVDs will make my life as a realtor simpler, better and more productive.

At some point, if I pay $13,000 to buy this famous program, I will make $500,000 this year. Guaranteed!
Come on... On the other hand, I might be wrong...

I seriously am calling upon your experience before I go spending my money trying to make it in real estate.

Have you used any program? Or method?
Do they really work?
What do you feel has given you the biggest bang for the buck? And why?
They all work but which one with 20% of my investment will give me 80% of return?

I want to know what sort of return on investment you have experienced!

I find that the internet real estate forums more than cover my needs. I can find almost anything I need.

All comments are appreciated!

Sam Kamoutsis
Broker of Record

PLANiT Real Estate Inc. Brokerage
658 Danforth Ave, Suite 401, Toronto Ontario M4J 5B9
Tel: 416-951-0110 Fax: 416-628-6860

Let's chat! Check to see if I'm online at http://www.PLANiTRealEstate.com

If you are or anyone you know is ready to sell or buy real estate, we would be happy to assist them. A referral reward program is available to all. Thank you for helping us serve you better!

Real Estate Prediction 2007: Expect The Best! Prepare For The Worst!

Sam Kamoutsis (PLANiT Real Estate Inc.) — Tue, 12 Sep 2006 18:24:46 -0500

I just heard this today (9/12/06) at a large RE/MAX conference in Toronto:

Real Estate Prediction: EXPECT THE BEST - PREPARE FOR THE WORST!

Also, heard that the US Real Estate market lost it's juice (no more speculation) but Canada will NOT follow suit this time around!

- What is your opinion? Do you agree? Are we to expect a lousy season this year? Or will it be next year?

- How should we prepare?

Sam Kamoutsis
Broker of Record

PLANiT Real Estate Inc. Brokerage
658 Danforth Ave, Suite 401, Toronto Ontario M4J 5B9
Tel: 416-951-0110 Fax: 416-628-6860

Let's chat! Check to see if I'm online at http://www.PLANiTRealEstate.com

If you are or anyone you know is ready to sell or buy real estate, we would be happy to assist them. A referral reward program is available to all. Thank you for helping us serve you better!

Is your real estate business suffering a slow death?

Sam Kamoutsis (PLANiT Real Estate Inc.) — Wed, 06 Sep 2006 23:15:22 -0500

Maybe not yet... But how do you know when it's coming?

Well, it is coming whether you like it or not. Lucky you, those that have milked the cow these past 5 years! The only thing positive in our lives is CHANGE! And, the #1s is becoming #100s and the opposite. Technology is going to transform us and our businesses and in the next few years, be ready or else...

So, how does one stay above water?

- Educate yourself! More and more not only about real estate but also learn about other fields that complement our business. Hey, it may be a good career move when everything slows down in real estate and you won't be paying your dues to your Board anymore

- Develop unique Internet Marketing programs. Don't believe David Liniger's comment (RE/MAX founder) that the "Internet is overvalued". Take from their example! Spend more on Internet. It's cheaper too... It makes you look smarter!

- Automate everything! When times get tough and you won't have money to pay your assistant, automating everything is the way to go. You can't be everywhere. Learn from the car companies: they save millions but letting go of staff and replacing them with computers.

I hear the next generation computers will work with liquid something or operate at the molecular level or think in a matrix. It's only a matter of time we will all have the computer that run space shuttles running under our desks.

Prepare, prepare, prepare!

Happy "Internet Leading"!

Sam Kamoutsis
Broker of Record

PLANiT Real Estate Inc. Brokerage
658 Danforth Ave, Suite 401, Toronto Ontario M4J 5B9
Tel: 416-951-0110 Fax: 416-628-6860

Let's chat! Check to see if I'm online at http://www.PLANiTRealEstate.com

If you are or anyone you know is ready to sell or buy real estate, we would be happy to assist them. A referral reward program is available to all. Thank you for helping us serve you better!

Is the importance of Internet in Real Estate Overrated?

Sam Kamoutsis (PLANiT Real Estate Inc.) — Tue, 05 Sep 2006 12:00:00 -0500

The Internet has taken almost every business by storm! While certain businesses may not depend on the Power of the Internet, in our line of business, in real estate, Internet allows us to reach a myriad of Buyers and Sellers, our bread and butter.

Unfortunately, the opening of the MLS to the public has put a great strain on our industry. We do not have the competitive advantage of "proprietary" information anymore and instead we struggle to excel in Website development, Marketing, Media and a whole lot of other fields that really should complement our profession, not drive it.

It is time for a paradigm shift in Real Estate. Well, it will happen whether we like it or not...

As Internet is educating our clients, we can only try to take advantage of being in front of them as frequently as possible, with the information they require. This should be done with the most minimum amount of money possible, as ROI in IT in every other business is still being challenged.

Think like a business person and outsource what you do not understand. But do it! Don't just sit around and think that real estate is remaining a business that is conducted at a "personal level". It is not... at least for most Buyers out there...

Since we ourselves are undermining our own colleagues, we might as well expect to be part of the war out there... Trying to steal a client... a listing ... a mortgage... But having over 10,000 visitors to your real estate website and converting a percentage of them to clients is where the business will be.

Have you also noticed? Clients are not faithful anymore... Why should they be? The are on the Internet. They have the power in their hands and the knowledge in their heads to go straight to the selling agent. Most Buyers do not need a Buyer agent anymore...

Internet will be the medium that will change our industry. You see it every day. Look at the crazy number of real estate templated websites, blogsites, podcasts and who knows what other sites are poppinmg up and "relate" to our business.

Therefrore, since we can only be dragged into this game in order to survive, I will try to distinguish myself, my business, my offerings and my website to be better, be optimized, more resourceful and functional than yours...

...Hope to see you too on Google...

Sam Kamoutsis
Broker of Record

PLANiT Real Estate Inc. Brokerage
658 Danforth Ave, Suite 401, Toronto Ontario M4J 5B9
Tel: 416-951-0110 Fax: 416-628-6860

Let's chat! Check to see if I'm online at http://www.PLANiTRealEstate.com

If you are or anyone you know is ready to sell or buy real estate, we would be happy to assist them. A referral reward program is available to all. Thank you for helping us serve you better!

Increase in Power of Sales and Bank Sales!

Sam Kamoutsis (PLANiT Real Estate Inc.) — Sun, 03 Sep 2006 19:33:18 -0500

As mentioned in my previous post, this year I have noticed an increase in power of sales in Toronto.

Every two weeks I extract from my sources Bank sales, Mortgage Company Sales, CMHC and other financial institutions' sales and post them online for my buyers.

Do you know why this is happening?

Well, there are two major reasons responsible for the increase in Power of Sales.

First of all, more and more people cannot pay their mortgages. They have taken the plunge in to the real estate market and they cannot afford their mortgage payments anymore. Many were looking for real estate deals, while others tried to make money by renovating and flipping homes. They loaded up on debt and now they cannot handle it anymore.

Of course, there is a normal number of buyers that want to support a home but were never meant to be homeowners. Not working with a capable real estate agent that sort of qualifies you for a home might have also contributed to this mess.

Now, the second cause is closely tied in to the first cause we explained above, responsible for the increase in power of sales. The second cause is Mortgage Fraud! Well, I myself did not experience the times when everyone wanted to become a real estate agent (or was I part of it?)

On the other hand, it appears everyone is becoming a Mortgage Broker! Wow! The Banks saw their sweet profits being nibbled away from them and they jumoed into the same band wagon, mostly indirectly throught the mortgage brokers they worked with. Now, look at the mess they have created.

My advice for those with cash: HOLD ON TO YOUR MONEY! I foresee crazy opportunities in a year or two. I say this because 5 year mortgages are slowly up for renewal. These were given out in 2000 up to 2005. When the mortgages open for renewal, rhey are being hit with double the interest rate and guess what happens...

Stay tuned for more...!

Sam Kamoutsis
Broker of Record

PLANiT Real Estate Inc. Brokerage
658 Danforth Ave, Suite 401, Toronto Ontario M4J 5B9
Tel: 416-951-0110 Fax: 416-628-6860

Let's chat! Check to see if I'm online at http://www.PLANiTRealEstate.com

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