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<p style="text-align: left;"><strong>Article written by Conrad Zurini | Broker of Record | Manager</strong></p>
<p>I know that all you dog lovers out there may be offended by this analogy, but the real estate market in Canada is not about the unconditional love and devotion that a dog gives you. Unlike your golden retriever named Biscuit, its not always happy when you come home, it does have a sense of time, its unforgiving, its aloof, its strategic, and it doesn&rsquo;t like when things are untidy.</p>
<p>I have a cat named Emily who is typically a real cuddler, but when I come home after a trip or am late during the week, there is hell to pay. Her meow is curdling&nbsp;and illustrates her displeasure&nbsp;of abandonment. Many a time I have left my packed bags at the front of my home before a trip along with my passport so I wouldn&rsquo;t forget it. Emily figured out that when these boxes with handles come out, I would be gone the next day. She couldn&rsquo;t show noticeable displeasure toward my luggage but one time she chewed through my passport, making it invalid&nbsp;(I was thinking inhumane thoughts when my trip had to be postponed). A dog has no concept of your time away. You could leave for 10 minutes, and your canine will greet you like you just climbed Mount Kilimanjaro.</p>
<p>If I fail to keep Emily&rsquo;s litter box&nbsp;in pristine condition, I am left&nbsp;with a small present (a piece&nbsp;of poop) in an area where she<br>knows I will travel. The fact that&nbsp;a cat relieves themselves in a&nbsp;dedicated area makes them&nbsp;miles above in IQ of their four-legged counterparts, dogs. For dogs, the entire world is their toilet, and they are unnervingly attracted to the scent of another dog&rsquo;s discharge, not to mention their own.</p>
<p>You see the Canadian real estate market has an air of sophistication like a cat, and requires strategy, cunning and an appreciation for time. First, let&rsquo;s not waste time on what we cannot control, like interest rates, recession, inflation etc. You see, my cat Emily cannot control when I come and go, how tidy I keep her litter box, but she can give me subtle signs of her displeasure. Are you&nbsp;watching for those subtle signs from your database, your friends, your past clients, and your social network?</p>
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<p><strong>Why People Move...Nothing to do With Mortgage Rates</strong></p>
<p>I have assembled a list of why people decide to move/sell/buy, it by no means is exhaustive, but it does highlight that everything does not evolve around mortgage rates. Every time you get a listing, you should run it against this list, see if it fits with 2 or more scenarios,&nbsp;and create ads which speak to the profiles below.</p>
<p>1. Family ties: People want to live closer to loved ones. The sandwich generation would like to live closer to their elderly parents who might be moving to a long-term care&nbsp;or retirement home. Showcase the fact that a property is within a radius of a number of these types of facilities, or alternatively, highlight suburban condos where elderly down-sizers can move and be close to their suburban grandchildren.</p>
<p>2. Needing a bigger space: Life goes on and a person&rsquo;s household needs change. It&rsquo;s time we focus on price per square foot, which&nbsp;is a fantastic way to show value and enable a growing family to stretch out. Not to mention 4 and 5 bedroom homes are on buyers&rsquo; radar screens.</p>
<p>3. Love their existing rate but hate their house: Get familiar with blend and extend mortgage strategies in order to show your&nbsp;buyers that they can get more space without breaking the bank.</p>
<p>4. Upgrade the neighborhood - safety is a concern: We thought as Canadians we were immune to this. Start discussing crime rates, talk about insurance rates being 20% lower in certain areas, and make friends with your insurance broker who has this data for you to showcase and advertise with.</p>
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<p>5. Wanting a vacation home: Vacation homes are still on peoples&rsquo; radar screens, especially for those who work from home. Prices are dropping on these, as the post pandemic cottage hangover is rearing its ugly head.</p>
<p>6. Those who have a net annual loss on their investment properties are potential sellers, but also buyers: This is a time to help investors hedge their higher priced investments with those which have better value (as investors offload some of their investments), and higher rental trajectory and growth.</p>
<p>7. Lots of equity/lots of choice: 1/3 of purchases in 2024 will be cash. 29.65% have a mortgage in Canada, and approximately 33-35% rent, that leaves a third of Canadians without a mortgage. They have lives too, and they grow their households, they downsize, etc. When you look deeper into the loan-to-value ratios of Canadians, you will discover there is plenty of equity in them there hills.</p>
<p><img src="https://cdn.buttercms.com/AWQFY27ZR82gtI67YzRj" alt="undefined" width="700" height="165"></p>
<p>Also don&rsquo;t expect defaults to bring about a colossal correction, however there is a trending upswing in the $850K and above mortgages. So tell your first timer buyers that homeowners are pretty strong at the entry level price points.</p>
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<p>8. Legacy real estate and the transfer of wealth: Baby boomers want their kids and grandkids to have a house. Messaging those people about how to effectively do that is paramount. Have information ready for these folks such as tax implications, legal documents around co-ownership, asset protection, etc.. StatsCan just released a report about those born in the 90&rsquo;s, between the ages of 24 and 33 (millennials), and had a home ownership rate of 8.1% in 2021. The rate increased to 14.7% if their parents owned a home, 22% if their parents owned 2 properties, and 27.8% if their parents owned 3 or more properties. In other words, their parent&rsquo;s equity is flowing into real estate for their kids.</p>
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<p>9. Time to downsize: This needs no explanation, however these buyers and sellers need a place to go, so it is incumbent upon us to create a curation of down-sizer inventory.</p>
<p>10. Out of area relocation: People are moving out of the province in search of an ideal place to retire or to find employment. Become an expert in relocation; get your ducks in a row to help them on the ground in their new location, and do what you can to get them the most when it comes to selling their property here.</p>
<p>11. Change of work, change of life, and change of home almost always follows: People are going back to their offices for part, or all of the week, but they love their suburban home. Maybe a pied- a-terre in that urban center is a great investment, a cool weekend getaway, and a commuter savior all at once.</p>
<p>12. Divorce and debt consolidation: These are frequent buzz words which are very searchable queries. Create valuable content around both topics and become that expert by collaborating with those who are a part of either of these ecosystems (family lawyers, bankruptcy trustees, etc.)</p>
<p><strong>Thank Goodness the Bank of Canada&rsquo;s Theory was Flawed</strong></p>
<p>The BOC and the US Federal Reserve had a single mission. They wanted to reduce employment, which would in turn reduce inflation, because people would lose their jobs or fear they would lose their employment, and that would curb demand. Well, the inflation thing did drop because demand came down as the media kept telling&nbsp;us how expensive everything is, and that if we buy anything we do not need we are getting hosed. Employment remained strong, which is great, but what happened with their hypothesis of the unemployment rate as it correlates to higher borrowing costs?</p>
<p>The Bank of Canada and the Federal Reserve&rsquo;s theory that higher interest rates would mean companies would not borrow to grow, and in turn lay off their employees is flawed. I ain&rsquo;t no economist, but I did take a few courses in University, so I decided to compare interest rates and their effects on employment. In 2005, the Bank of Canada set rates at 2.5%, and unemployment was 6.76%. In July of 2010, the BOC rate was .75% and unemployment was a whopping 8.6%. In 2015 it was .75%, and unemployment was 6.9%. And today, the BOC Policy Interest Rate is at 5%, and unemployment is 5.7%.</p>
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<p><strong>What Does a Win Look Like in 2024?</strong></p>
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<p>My bet is going to be on the Millennials in Canada in 2024. They number 10,778,118 which is slightly more than a 1/4 of our population. They can&rsquo;t live in their parents&rsquo; basements forever. The average household in Canada forms at age 26. If these newly created households are paying rent, its high. This is the largest home buying demographic in history, and they have jobs and equity from their parents and grandparents. The rest of this decade is going to be shaped by this large buying group. They will move the market like the baby boomers before them, when they were in their household creation years of the mid 80&rsquo;s.</p>
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<p><img src="https://cdn.buttercms.com/rDxSlcsNTLiIWfRjpGqe" alt="undefined" width="699" height="410"></p>
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Article written by Conrad Zurini | Broker of Record | Manager I know that all you dog lovers out there may be offended by this analogy, but

The Dog's Cat's World that is the Real Estate Market in Canada

Article written by Conrad Zurini | Broker of Record | Manager I know that all you dog lovers out there may be offended by this analogy, but the real estate market in Canada is not about the unconditional love and devotion that a dog gives you. Unlike your golden retriever ...

The Cat's World that is the Real Estate Market in Canada

<p style="text-align: center;">Two out of the 3 real estate boards that we trade in have posted negative results over November of 2022, with the Niagara Association of Realtors posting a 4.9% gain. We at RE/MAX Escarpment and Niagara have bucked the trend, posting positive unit sales numbers of nearly 4% and 6.43% respectively. &nbsp;Our year-to-date listing counts are still well above our trading areas, with appointments down for the month, but still holding steady. &nbsp;Our agents are clearly outselling their competitor&rsquo;s by over 6 to 1, with our year-to-date sales, outstripping the local real estate community significantly.&nbsp;</p>
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Two out of the 3 real estate boards that we trade in have posted negative results over November of 2022, with the Niagara Association of Rea

MARKET PULSE: November 2023

Two out of the 3 real estate boards that we trade in have posted negative results over November of 2022, with the Niagara Association of Realtors posting a 4.9% gain. We at RE/MAX Escarpment and Niagara have bucked the trend, posting positive unit sales numbers of nearly 4% and 6.43% ...

<p style="text-align: center;">As November drew to a close, appointments dropped by nearly 17% compared to the previous week. The busiest day for appointments was Friday with nearly 400 total appointments. For the first time since&nbsp;August 27-September 2, solds are surpassing new listings, indicating that buyers are taking advantage of the transitional market we are currently in. Compared to November of 2022, November 2023 saw a 13.6% reduction in total appointments.</p>
<p style="text-align: center;">The appointment/sold index dropped from 11.4 to 8.3 in the past week which is the lowest it has been since December 2022, indicating buyer&rsquo;s confidence in the real estate market, due to the BOC&rsquo;s back to back mortgage rate pauses.&nbsp;&nbsp;This trend is something that we are likely to see continue through the entire holiday season.</p>
<p style="text-align: center;">Our top price ranges this week saw some more noticeable changes compared to previous weeks. Specifically, Hamilton saw the $650-700k price range rise in popularity while the $850-900k range fell from the chart altogether. In Halton, our most expensive price ranges still occupy the majority of the chart besides the $450-500k range.&nbsp;&nbsp;Except for the $1-2M price range at number 1 for Niagara, there are no price ranges above $650-700k on the chart for that area.</p>
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As November drew to a close, appointments dropped by nearly 17% compared to the previous week. The busiest day for appointments was Friday w

What's happening in the Appointment Centre? November 26-December 2

As November drew to a close, appointments dropped by nearly 17% compared to the previous week. The busiest day for appointments was Friday with nearly 400 total appointments. For the first time since August 27-September 2, solds are surpassing new listings, indicating that buyers are taking advantage of the transitional ...

<p style="text-align: center;">Appointments this week have decreased by just over 3%, after last week&rsquo;s 9.1 % surge, with our busiest day of the week, being Wednesday, hosting 377 total appointments. New listings are continuing to surpass solds, and although this gap narrowed last week, it has since increased again offering more choice to buyers. Compared to November 1-25 of 2022, we are seeing a 13% decrease in total appointments, although this gap continues to narrow each week.</p>
<p style="text-align: center;">The appointment/sold index has increased to 11.4, matching the appointment/sold index from two weeks ago. Buyer confidence has steadily been increasing since the end of October, a trend which could build momentum throughout the holiday season.&nbsp;&nbsp;</p>
<p style="text-align: center;">Our top price ranges remained very similar to the previous week. Hamilton's only major change was that the $550-600k range was replaced by the $850-900k range at #5. Halton saw the $2M+ range return to the charts in the #4 spot. In Niagara, the top price range went down to $350-400k and no price ranges above the $600-650k range are present on the chart this week.</p>
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Appointments this week have decreased by just over 3%, after last week’s 9.1 % surge, with our busiest day of the week, being Wednesday, hos

What's happening in the Appointment Centre? November 19-25

Appointments this week have decreased by just over 3%, after last week’s 9.1 % surge, with our busiest day of the week, being Wednesday, hosting 377 total appointments. New listings are continuing to surpass solds, and although this gap narrowed last week, it has since increased again offering more choice ...

<p style="text-align: center;">Appointments this week have rallied, to just above a 9% increase over last week, after a sluggish start to the fall.&nbsp;&nbsp;The effect of 2 successive Bank of Canada interest rate pause announcements has reignited buyer confidence. New listings are still slightly surpassing solds, which has been a more recent phenomenon, however, the difference is significantly less than in previous weeks. So far this November we are seeing a decrease of nearly 16% in appointments over 2022, although this gap has also been narrowing over the past few weeks.</p>
<p style="text-align: center;">The appointment/sold index dropped to 10.5, a small change compared to previous weeks, indicating that buyers are continuing to gain confidence and make quicker decisions.</p>
<p style="text-align: center;">In Niagara, the $1-2M price range has been usurped as the top price range, but was replaced by the more affordable $450-500k range. Halton remains fairly consistent with high price ranges occupying the top spots. Hamilton saw some smaller changes where lower price ranges like $450-500k are gaining more popularity, although the $1-2M price range still occupies the top spot.</p>
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Appointments this week have rallied, to just above a 9% increase over last week, after a sluggish start to the fall. The effect of 2 success

What's happening in the Appointment Centre? November 12-18

Appointments this week have rallied, to just above a 9% increase over last week, after a sluggish start to the fall. The effect of 2 successive Bank of Canada interest rate pause announcements has reignited buyer confidence. New listings are still slightly surpassing solds, which has been a more recent ...

<p style="text-align: center;">Appointment numbers this week, have remained mainly consistent over the previous week, with a minimal decrease of just over 1%. New listings are down 4% from last week, and solds are up 5%, as existing inventories are starting to get absorbed. Currently, November is seeing an 18% decrease in total appointments so far this month compared to November of 2022.&nbsp;</p>
<p style="text-align: center;">The appointment/sold index dropped to 11.3, indicating that buyers are getting more confident in the market making slightly quicker decisions.</p>
<p style="text-align: center;">Our top price ranges have seen some interesting shifts, particularly in Niagara where buyers are gravitating to higher price points.&nbsp;&nbsp;Halton continues to see our highest price ranges in its top three spots. Hamilton's top price ranges remain fairly similar to previous weeks except for the $350-400k range which dropped from the ranks altogether this week.</p>
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Appointment numbers this week, have remained mainly consistent over the previous week, with a minimal decrease of just over 1%. New listings

What's happening in the Appointment Centre? November 5-11

Appointment numbers this week, have remained mainly consistent over the previous week, with a minimal decrease of just over 1%. New listings are down 4% from last week, and solds are up 5%, as existing inventories are starting to get absorbed. Currently, November is seeing an 18% decrease in total ...

<p style="text-align: center;">RE/MAX Escarpment and Niagara continue to outperform well beyond our competitors in this market. There is a 20 percentage point gap between how our agents perform compared to those in our trading area, from a sales perspective. Consumers continue to trust our proven track record as not only are our number of listings up over our competitors (YTD) but we also sell more of our listings with our new listings/sales ratio sitting at 95%. Precision pricing and superior marketing by our agents ensures our clients achieve success while others struggle under slower market conditions.</p>
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RE/MAX Escarpment and Niagara continue to outperform well beyond our competitors in this market. There is a 20 percentage point gap between

MARKET PULSE: October 2023

RE/MAX Escarpment and Niagara continue to outperform well beyond our competitors in this market. There is a 20 percentage point gap between how our agents perform compared to those in our trading area, from a sales perspective. Consumers continue to trust our proven track record as not only are our ...

<p style="text-align: center;"><span data-lucid-content="{&quot;t&quot;:&quot;This week saw a decrease of about 6% in appointments made, with our busiest day handling just over 450 appointments. While the number of new listings was similar to last week, the number of sold properties dropped by almost 29%. Overall, the month of October saw a decrease of approximately 15% in number of total appointments booked when compared to 2022. \nThe appointment/sold index increased from 9.1 to 12.0 this week, indicating an influx of new buyers entering the market, as there is more choice and an increase in affordable inventory. \nOur top price ranges remained fairly similar to last week, with the $1-2M price range on top in Hamilton and Halton, and in the number two spot for Niagara. Halton is seeing the most expensive price ranges in the top three spots. Niagara is still seeing lower price ranges as most popular with the exception of that $1-2M range.&quot;,&quot;m&quot;:[{&quot;s&quot;:0,&quot;n&quot;:&quot;p&quot;,&quot;v&quot;:1},{&quot;s&quot;:0,&quot;n&quot;:&quot;f&quot;,&quot;v&quot;:&quot;Aller Light&quot;,&quot;e&quot;:873},{&quot;s&quot;:0,&quot;n&quot;:&quot;fc&quot;,&quot;v&quot;:&quot;Regular&quot;,&quot;e&quot;:873},{&quot;s&quot;:0,&quot;n&quot;:&quot;fid&quot;,&quot;v&quot;:56,&quot;e&quot;:873},{&quot;s&quot;:0,&quot;n&quot;:&quot;hl&quot;,&quot;v&quot;:null,&quot;e&quot;:873},{&quot;s&quot;:0,&quot;n&quot;:&quot;s&quot;,&quot;v&quot;:8,&quot;e&quot;:873},{&quot;s&quot;:0,&quot;n&quot;:&quot;c&quot;,&quot;v&quot;:&quot;#242424ff&quot;,&quot;e&quot;:873},{&quot;s&quot;:358,&quot;n&quot;:&quot;p&quot;,&quot;v&quot;:1},{&quot;s&quot;:545,&quot;n&quot;:&quot;p&quot;,&quot;v&quot;:1}]}" data-lucid-type="application/vnd.lucid.text">This week saw a decrease of about 6% in appointments made, with our busiest day handling just over 450 appointments. While the number of new listings was similar to last week, the number of sold properties dropped by almost 29%. Overall, the month of October saw a decrease of approximately 15% in number of total appointments booked when compared to 2022. </span></p>
<p style="text-align: center;"><span data-lucid-content="{&quot;t&quot;:&quot;This week saw a decrease of about 6% in appointments made, with our busiest day handling just over 450 appointments. While the number of new listings was similar to last week, the number of sold properties dropped by almost 29%. Overall, the month of October saw a decrease of approximately 15% in number of total appointments booked when compared to 2022. \nThe appointment/sold index increased from 9.1 to 12.0 this week, indicating an influx of new buyers entering the market, as there is more choice and an increase in affordable inventory. \nOur top price ranges remained fairly similar to last week, with the $1-2M price range on top in Hamilton and Halton, and in the number two spot for Niagara. Halton is seeing the most expensive price ranges in the top three spots. Niagara is still seeing lower price ranges as most popular with the exception of that $1-2M range.&quot;,&quot;m&quot;:[{&quot;s&quot;:0,&quot;n&quot;:&quot;p&quot;,&quot;v&quot;:1},{&quot;s&quot;:0,&quot;n&quot;:&quot;f&quot;,&quot;v&quot;:&quot;Aller Light&quot;,&quot;e&quot;:873},{&quot;s&quot;:0,&quot;n&quot;:&quot;fc&quot;,&quot;v&quot;:&quot;Regular&quot;,&quot;e&quot;:873},{&quot;s&quot;:0,&quot;n&quot;:&quot;fid&quot;,&quot;v&quot;:56,&quot;e&quot;:873},{&quot;s&quot;:0,&quot;n&quot;:&quot;hl&quot;,&quot;v&quot;:null,&quot;e&quot;:873},{&quot;s&quot;:0,&quot;n&quot;:&quot;s&quot;,&quot;v&quot;:8,&quot;e&quot;:873},{&quot;s&quot;:0,&quot;n&quot;:&quot;c&quot;,&quot;v&quot;:&quot;#242424ff&quot;,&quot;e&quot;:873},{&quot;s&quot;:358,&quot;n&quot;:&quot;p&quot;,&quot;v&quot;:1},{&quot;s&quot;:545,&quot;n&quot;:&quot;p&quot;,&quot;v&quot;:1}]}" data-lucid-type="application/vnd.lucid.text">The appointment/sold index increased from 9.1 to 12.0 this week, indicating an influx of new buyers entering the market, as there is more choice and an increase in affordable inventory. </span></p>
<p style="text-align: center;"><span data-lucid-content="{&quot;t&quot;:&quot;This week saw a decrease of about 6% in appointments made, with our busiest day handling just over 450 appointments. While the number of new listings was similar to last week, the number of sold properties dropped by almost 29%. Overall, the month of October saw a decrease of approximately 15% in number of total appointments booked when compared to 2022. \nThe appointment/sold index increased from 9.1 to 12.0 this week, indicating an influx of new buyers entering the market, as there is more choice and an increase in affordable inventory. \nOur top price ranges remained fairly similar to last week, with the $1-2M price range on top in Hamilton and Halton, and in the number two spot for Niagara. Halton is seeing the most expensive price ranges in the top three spots. Niagara is still seeing lower price ranges as most popular with the exception of that $1-2M range.&quot;,&quot;m&quot;:[{&quot;s&quot;:0,&quot;n&quot;:&quot;p&quot;,&quot;v&quot;:1},{&quot;s&quot;:0,&quot;n&quot;:&quot;f&quot;,&quot;v&quot;:&quot;Aller Light&quot;,&quot;e&quot;:873},{&quot;s&quot;:0,&quot;n&quot;:&quot;fc&quot;,&quot;v&quot;:&quot;Regular&quot;,&quot;e&quot;:873},{&quot;s&quot;:0,&quot;n&quot;:&quot;fid&quot;,&quot;v&quot;:56,&quot;e&quot;:873},{&quot;s&quot;:0,&quot;n&quot;:&quot;hl&quot;,&quot;v&quot;:null,&quot;e&quot;:873},{&quot;s&quot;:0,&quot;n&quot;:&quot;s&quot;,&quot;v&quot;:8,&quot;e&quot;:873},{&quot;s&quot;:0,&quot;n&quot;:&quot;c&quot;,&quot;v&quot;:&quot;#242424ff&quot;,&quot;e&quot;:873},{&quot;s&quot;:358,&quot;n&quot;:&quot;p&quot;,&quot;v&quot;:1},{&quot;s&quot;:545,&quot;n&quot;:&quot;p&quot;,&quot;v&quot;:1}]}" data-lucid-type="application/vnd.lucid.text">Our top price ranges remained fairly similar to last week, with the $1-2M price range on top in Hamilton and Halton, and in the number two spot for Niagara. Halton is seeing the most expensive price ranges in the top three spots. Niagara is still seeing lower price ranges as most popular with the exception of that $1-2M range.</span></p>
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<div style="text-align: center;"><span data-lucid-content="{&quot;t&quot;:&quot;This week saw a decrease of about 6% in appointments made, with our busiest day handling just over 450 appointments. While the number of new listings was similar to last week, the number of sold properties dropped by almost 29%. Overall, the month of October saw a decrease of approximately 15% in number of total appointments booked when compared to 2022. \nThe appointment/sold index increased from 9.1 to 12.0 this week, indicating an influx of new buyers entering the market, as there is more choice and an increase in affordable inventory. \nOur top price ranges remained fairly similar to last week, with the $1-2M price range on top in Hamilton and Halton, and in the number two spot for Niagara. Halton is seeing the most expensive price ranges in the top three spots. Niagara is still seeing lower price ranges as most popular with the exception of that $1-2M range.&quot;,&quot;m&quot;:[{&quot;s&quot;:0,&quot;n&quot;:&quot;p&quot;,&quot;v&quot;:1},{&quot;s&quot;:0,&quot;n&quot;:&quot;f&quot;,&quot;v&quot;:&quot;Aller Light&quot;,&quot;e&quot;:873},{&quot;s&quot;:0,&quot;n&quot;:&quot;fc&quot;,&quot;v&quot;:&quot;Regular&quot;,&quot;e&quot;:873},{&quot;s&quot;:0,&quot;n&quot;:&quot;fid&quot;,&quot;v&quot;:56,&quot;e&quot;:873},{&quot;s&quot;:0,&quot;n&quot;:&quot;hl&quot;,&quot;v&quot;:null,&quot;e&quot;:873},{&quot;s&quot;:0,&quot;n&quot;:&quot;s&quot;,&quot;v&quot;:8,&quot;e&quot;:873},{&quot;s&quot;:0,&quot;n&quot;:&quot;c&quot;,&quot;v&quot;:&quot;#242424ff&quot;,&quot;e&quot;:873},{&quot;s&quot;:358,&quot;n&quot;:&quot;p&quot;,&quot;v&quot;:1},{&quot;s&quot;:545,&quot;n&quot;:&quot;p&quot;,&quot;v&quot;:1}]}" data-lucid-type="application/vnd.lucid.text"><img src="https://cdn.buttercms.com/jC60ri2ZSv28xxBTTYn3" alt="undefined" width="700" height="906"></span></div>
<div style="text-align: center;"><span data-lucid-content="{&quot;t&quot;:&quot;This week saw a decrease of about 6% in appointments made, with our busiest day handling just over 450 appointments. While the number of new listings was similar to last week, the number of sold properties dropped by almost 29%. Overall, the month of October saw a decrease of approximately 15% in number of total appointments booked when compared to 2022. \nThe appointment/sold index increased from 9.1 to 12.0 this week, indicating an influx of new buyers entering the market, as there is more choice and an increase in affordable inventory. \nOur top price ranges remained fairly similar to last week, with the $1-2M price range on top in Hamilton and Halton, and in the number two spot for Niagara. Halton is seeing the most expensive price ranges in the top three spots. Niagara is still seeing lower price ranges as most popular with the exception of that $1-2M range.&quot;,&quot;m&quot;:[{&quot;s&quot;:0,&quot;n&quot;:&quot;p&quot;,&quot;v&quot;:1},{&quot;s&quot;:0,&quot;n&quot;:&quot;f&quot;,&quot;v&quot;:&quot;Aller Light&quot;,&quot;e&quot;:873},{&quot;s&quot;:0,&quot;n&quot;:&quot;fc&quot;,&quot;v&quot;:&quot;Regular&quot;,&quot;e&quot;:873},{&quot;s&quot;:0,&quot;n&quot;:&quot;fid&quot;,&quot;v&quot;:56,&quot;e&quot;:873},{&quot;s&quot;:0,&quot;n&quot;:&quot;hl&quot;,&quot;v&quot;:null,&quot;e&quot;:873},{&quot;s&quot;:0,&quot;n&quot;:&quot;s&quot;,&quot;v&quot;:8,&quot;e&quot;:873},{&quot;s&quot;:0,&quot;n&quot;:&quot;c&quot;,&quot;v&quot;:&quot;#242424ff&quot;,&quot;e&quot;:873},{&quot;s&quot;:358,&quot;n&quot;:&quot;p&quot;,&quot;v&quot;:1},{&quot;s&quot;:545,&quot;n&quot;:&quot;p&quot;,&quot;v&quot;:1}]}" data-lucid-type="application/vnd.lucid.text"><a href="https://cdn.buttercms.com/gkj7fTMsTiaeZwufVgNp" rel="follow noopener" target="_blank">DOWNLOAD PDF</a></span></div>

This week saw a decrease of about 6% in appointments made, with our busiest day handling just over 450 appointments. While the number of new

What's happening in the Appointment Centre? October 29-November 4

This week saw a decrease of about 6% in appointments made, with our busiest day handling just over 450 appointments. While the number of new listings was similar to last week, the number of sold properties dropped by almost 29%. Overall, the month of October saw a decrease of approximately ...

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<p><em><img src="https://cdn.buttercms.com/OPHL36TLQ1yIbi8qHGJ8" alt="Screen Shot 2023-11-02 at 12.24.49 PM..." width="100" height="99" style="display: block; margin-left: auto; margin-right: auto;"></em></p>
<p style="text-align: center;"><em>By Lynn Hoffmann | Halton Regional Broker, Manager of Wealth Services and Luxury Affiliates | lhoffmann@rmxemail.net | 416-953-1149</em><em></em></p>
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<p>It&rsquo;s very common for agents to be drawn to the allure of selling LUXURY REAL ESTATE. How difficult could it be? Right?</p>
<p>So, what does it take to be successful in the world of Luxury Real Estate?</p>
<p>Working in luxury real estate heightens all aspects of the industry and the process of selling. The caliber and quality of the home is elevated, demands and expectations of the agent are elevated, and they are working with buyers and sellers that are often at the top of their professions.</p>
<p>Agents looking to lift up their careers can find that luxury real estate holds immense promise. The question I&rsquo;m asked all the time is &ldquo;How do I break into this market?&rdquo;.</p>
<p>In some cases an agent&rsquo;s prior profession has lent itself to the luxury market. Exotic car salesperson, a real estate<br>investor, a trader in commodities, and many of<br>your past life experiences in the high-end sector</p>
<p>will serve you well in real estate luxury sales. This is all great, but what if you don&rsquo;t have a leg up in any type of luxury sales or the high- net-worth world?</p>
<p>Let&rsquo;s explore at some ideas.</p>
<p><strong>Find supporters in your sphere who will cheer you on and advocate for you</strong></p>
<p>Have a robust list and network of professional peers who can help take your business to the next level. Successful people in any industry work hard to build strong relationships and ask for help when they need it.</p>
<p>Look for advice and help from a seasoned mentor who is willing to share their knowledge and experience. If you aren&rsquo;t making alliances with these types of people, you should make it a point to start. Believe it or not, your client base, friends and colleagues do want to see you succeed.</p>
<p>Surrounding yourself with the right people is integral. You might consider joining forces with a team or individual that already<br>lives in the luxury real state market. Alternatively, there are Luxury specialist courses and mentoring programs that you can explore to become knowledgeable in this market.</p>
<p><strong>Build a wide range of expertise</strong></p>
<p>Cultivating your knowledge is essential. So is fostering a network of contacts that can help you support your clients - from tradespeople to financial advisors. &ldquo;Grow your network of resources to make your clients&rsquo; experience as seamless as possible&rdquo;. Become their trusted, and knowledgeable advisor; their go-to person for all related business matters.</p>
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<p><strong>Breaking into LUXURY REAL ESTATE</strong></p>
<p>Remember too that luxury clients are generally very well informed in local, national, and global events so be prepared to engage in conversations beyond the real estate market. Your knowledge of both the industry and world events is certainly beneficial, but it still really comes down to your buyers and sellers having confidence in your ability to manage preparing, promoting and negotiating for what is often their most valuable asset.</p>
<p>If you are new to this business you expect to be patient, professional, humble, and hungry to learn everything you can about real estate and the luxury aspects of real estate. Knowledge is Power.</p>
<p><strong>Elevate every aspect of your service</strong></p>
<p>Anyone hoping to make it in the luxury market must have the diligence and drive that will win the trust of clients and the respect&nbsp;of colleagues.</p>
<p>Luxury agents show a dedication to the craft and a willingness to pivot when things aren&rsquo;t working. The Luxury real estate business demands a high level of discipline and someone who is willing to go above and beyond with respect to being accessible outside the traditional hours of business. It also takes an investment of both time and money to property prepare, expose, and promote the property. It might mean a much higher investment to market the property than most agents are accustomed to. You must use the best photography, video, drone footage, lifestyle video, print materials and digital. Quality leads to credibility - and like any good investment, it will be worth it in the end.</p>
<p>One last piece of advice to anyone thinking of breaking into<br>this exciting market - Be prepared before you are called for an appointment. Do your due diligence on all aspects of the luxury market and have your digital presentation ready to send out prior to the appointment. Being prepared and polished in advance of your live presentation will make the difference between success and failure.</p>
<p style="text-align: center;"><em>Follow Lynn on Facebook and Instagram! @lynnhoffmannremaxescarpment @lynnchoffmann</em></p>
<p style="text-align: center;"><em>Follow our company&rsquo;s luxury socials! @remaxniagaraescarpmentluxury @the_renownedcollection</em></p>
<p style="text-align: center;"><em>Watch &ldquo;Mastering the Luxury Listing&rdquo; in our Luxury resources in Office Tools.<br></em></p>
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By Lynn Hoffmann | Halton Regional Broker, Manager of Wealth Services and Luxury Affiliates | lhoffmann@rmxemail.net | 416-953-1149 It’s ver

Breaking Into LUXURY REAL ESTATE

By Lynn Hoffmann | Halton Regional Broker, Manager of Wealth Services and Luxury Affiliates | lhoffmann@rmxemail.net | 416-953-1149 It’s very common for agents to be drawn to the allure of selling LUXURY REAL ESTATE. How difficult could it be? Right? So, what does it take to be successful in the ...

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<p style="text-align: center;"><img src="https://cdn.buttercms.com/7NjhFNeBStagxxfgbaXI" alt="Screen Shot 2023-11-02 at 11.47.53 AM..." width="120" height="119" style="display: block; margin-left: auto; margin-right: auto;"><em></em></p>
<p style="text-align: center;"><em>By Conrad Zurini | </em><em>Broker of Record, Manager | </em><em>conrad@rmxemail.com | </em><em>905-719-3033</em></p>
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<p>If I told you November was one of my favourite months would you believe me? It may not be my favourite month, but I will say it seems like it is the fastest month. I&rsquo;m not sure why that is - is it because of the holiday season in December, and we try so hard to pack so much into the month of November? It&rsquo;s like December comes and workflows fall off a cliff, and we get into the &lsquo;season&rsquo; so to speak. November is my month to plan for the next year and that is exciting for me, but this November is more than just planning for the next year. It is the time to re-think, re-jig, and re-write our business. What? Why now? What is so pivotal about 2024?</p>
<p>Next year denotes a theme of promise for me. The last 4 years have been a roller coaster of events that dramatically shaped our lives and our businesses. Some for the better and some for the worse. I dare say that most of our uncertainties are behind us. Yes, there are some major events happening on&nbsp;a geopolitical level which we have no control over, but when it comes to our businesses<br>and creating efficiencies and wonder, we are entering an era which was only imagined a short time ago.</p>
<p>I recently attended a technology&nbsp;conference (T360 Tech) in Fort&nbsp;Worth Texas. The keynote was&nbsp;Luke Williams who has forever&nbsp;changed my perspective. His&nbsp;live demonstrations which&nbsp;appeared to be simple and&nbsp;generic, re-calibrated my brain.&nbsp;He spoke to me on a level&nbsp;which opened up a pathway for&nbsp;me intellectually. Luke also used an analogy, which if you know me is near and dear to my heart....cooking. I love to prepare a meal; I enjoy the chemistry of it; I love the creativity of it; I love to put my own twist on it; I love planning it; I love the logistics of putting on a meal, but more importantly it is the way I show my love for the people around me.</p>
<p><strong>The Real Estate Industry Has New Ingredients</strong></p>
<p>Williams described the world of ideas around abundance. If I had to describe Luke, he&rsquo;s is definitely not glass half empty, not glass half full, but he is the cupis overflowing. A successful business is all &lsquo;about better recipes&rsquo;. Two things he pointed out was that growth will come from better recipes. And we, as humans, like watching other people cook. Your revenue model, your brand, your resources.</p>
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<p>These are all the ingredients. What you do with these ingredients is the magic so to speak...... Back in May I attended a wedding in the Amalfi Coast, and I discovered a Michelin star restaurant in Amalfi called La Caravella (translation - the sailing vessel, made famous by Andy Warhol). I had the tasting menu, and the owner/chef Antonio Dipino, took me on a culinary journey with every course. He recreated a dish which was a deconstructed bruschetta, which his mother created in 1967, and was awarded the first Michelin star for a female chef in Italy. We all know what bruschetta looks like, it&rsquo;s probably second to the pizza as one of the most recognized snack foods in Italian cuisine. But she created a most elegant dish, with all the ingredients re-arranged, and elevated the dish, as if she was creating a work of art.</p>
<p>Our interpretations go through a frame of reference - a crusty slice of bread with chopped tomato and cheese. Our frame of reference tells us what to look for, so when someone re-arranges something that comes out completely differently we see it at another level so to speak. Most ideas are incremental and often follow a pattern, but have you ever thought of writing your ideas down on cue cards, placing them in a bag, and shaking them up and pulling them out randomly? Now place these cards in some sort of sequence or pattern, like you would with scrabble tiles. Like with scrabble you will probably, through luck or coincidence, begin to fashion (a word) a sequence of ideas which can be formulated into a system, but eventually you will draw out a &lsquo;Q&rsquo; or a &lsquo;Z&rsquo; and your linear sequence will be ruined. This exercise forces us to &lsquo;think out of the box&rsquo;, and reshuffle the deck, and begin to reconstruct your business.</p>
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<p><strong>We Need to Avoid Becoming Blockbuster and Kodak</strong></p>
<p>Williams points out that we are quick to poke fun at companies like Blockbuster and Kodak, by saying &ldquo;did they not see their demise coming?&rdquo; We are so brilliant in hindsight, but the leadership at these two iconic companies were looking at information (data),&nbsp;in the framework of an old idea. If the only tool you have is a hammer, everything around you looks like a nail. This is known as the dominant frame, and the dominant frame is the silent killer to all of us in business. Most whiteboard ideas are incremental ideas, they tend to track with your previous experience or success, and inevitably those ideas are the ones you go with.</p>
<p>More ingredients are making their way to our industry every day, and it is up to us to integrate these&nbsp;ingredients into an entirely new recipe.&nbsp;</p>
<p>Many of you reading this blog might ask, what has changed that has made Conrad so hung up on this need to re-create our business model? As far as I can see there are two galaxies colliding - one, the class action suits in North America around publishing the co-operating commission and the other around the rise of AI. Our industry was alway about adding things to our existing model/arrangement, and the notion of this galactic collision will have a seismic result on the current way we operate.</p>
<p><strong>The Wonderful World Of AI</strong></p>
<p>I believe this is the only time in tech&nbsp;history where we can be asked, &ldquo;what do you want to be better?&rdquo; What do you want to be better in all of your aspects of your life, work, and play? There are 52,000 companies doing AI. They will touch almost every aspect of our lives. Remember we used to say &ldquo;there&rsquo;s an app for that&rdquo;? Well, now there is AI for that!!!!</p>
<p>Let&rsquo;s examine one real estate agent pain point. Like lead nurture, there are smart CRM&rsquo;s which will segment your database and communicate to each person when they want to be communicated to, and how they want to be communicated with, and more importantly, the precise moment that your communication will have the most impact. It will bring your sphere back in front of&nbsp;you over and over, and prompt you to precisely step in when their life moments lead to a real estate transaction. It will be infinitely scalable, and search out other potential prospects who are&nbsp;sharing similar mindsets and milestones. And it is getting so good, according to Ylopo&rsquo;s founder, Howard Tager during a presentation on his chat bot platform, that &ldquo;less than a quarter of 1 percent ask if it&rsquo;s a bot.&rdquo;</p>
<p>AI can create software from a screenshot. Can you imagine what it could do with home search? Upload an exterior photo of a home you like, or a kitchen design you are planning to do to a home search platform, and AI will serve you up listings that match. Generative AI, which is a series of models and algorithms from&nbsp;vast amounts of data, will rank properties by their condition, and create property scores to encourage REALTORS&reg; and their clients to perform proactive activities (buying, selling, offering). With all of this in the palm of your hand, these efficiencies will enable us as real estate practitioners to foster better human relationships.</p>
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<p><strong>The Real Estate Sky is not Falling</strong></p>
<p>So why not get in front of this? As a self proclaimed futurist I cannot sit back and watch without putting forth my opinion. This is not a piece about the sky is falling. We are a traditional business that&nbsp;is decades old, and change is a-comin&rsquo;. On January 1st, 2024&nbsp;the Manhattan Association of REALTORS&reg; (MLSManhattan.com) has decided to proactively, after 2 years of so called discussions,&nbsp;stop publishing the compensation for&nbsp;the buyer representative. Something&nbsp;that has been a cornerstone of Multiple Listing Services (MLS&reg;) for well over a century. We are a complex, yet adaptive business, and on December 1st, 2023, Ontario is adopting TRESA, the Trust&nbsp;in Real Estate Services Act, which is an update to an act which was created in 2002. There are 2 major changes as<br>I see it: (1) the ability to present open offers, and (2) the clear definition of an unrepresented party (buyer). This will change the way we talk, the way we think, and the way we serve our clients. This is your opportunity to throw out your old ideas and embrace new ones to create a better customer experience and reduce their uncertainty.</p>
<p><strong>The Future Of Real Estate Is Bright</strong></p>
<p>Bad news alert - Artificial Intelligence won&rsquo;t do the thinking for<br>you. What it will do is augment your skills. Kind of good news! AI will not replace what you do, but those who adopt AI will replace those who do not. Our old playbook has become obsolete, and we can&rsquo;t make progress by simply moving forward, and adding tools and services in a linear fashion. We have to break up the original arrangement. Like a traditional recipe (bruschetta) you are locking down ingredients, and arranging them in a recognizable format. Now we must pull the ingredients apart, and re-arrange them in<br>a way that improves your client&rsquo;s experience, by increasing your client&rsquo;s confidence in you as their REALTOR&reg;, and in the real estate market as a whole.</p>
<p>If you are not out there distributing great content, be it by video&nbsp;or some other medium, and if you do not have an incredible on- boarding system for client acquisition, then it may be too late. It&nbsp;is not about the access to AI to help generate content, or nurture your prospects, and your client base, AI has that covered. You need to perfect that last mile where human interaction is paramount by pricing properties with precision, by creating a bespoke marketing plan, and by negotiating a sale price which satisfies all facets of human behaviours and needs.</p>
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By Conrad Zurini Broker of Record, Manager conrad@rmxemail.com 905-719-3033 If I told you November was one of my favourite months would you

It's Time to Change the Context of Real Estate

By Conrad Zurini Broker of Record, Manager conrad@rmxemail.com 905-719-3033 If I told you November was one of my favourite months would you believe me? It may not be my favourite month, but I will say it seems like it is the fastest month. I’m not sure why that is - ...

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