march 31 - april 2, 2017 · a company providing seminars, online training, technology and real...
TRANSCRIPT
INTERNET LEADS &LANDING PAGES FOR BUYER
& SELLER LEADSwith Danny Wood
NEWSLETTERMARCH 2017
IN EVERY ISSUE: Conrad’s Quote • TheLunch • TheCoach’sCorner • inthesquarePartners
Our Mission: Experience our Experience
our values
Maintain a Positive Environment and a Family Spirit
Create Fun and Strive to be Diff erent
Earn Customer Loyalty and Respect Every Day
Be Adventurous, Creative andOpen to Change
Don’t take Success for Granted
Pursue Innovation, Learning and Sharing Knowledge
Delivering what we Promise and add Value Beyond what is Expected
Care about our Community and Our Environment
March 31 - April 2, 2017
We'll explore what makes a good landing page, the elements that make them
effective, and examples of ones that work and how to actually drive traffic using
social media. Think of house value pages, property search pages, seminars,
client appreciation events and more.
As a bonus we'll also be covering using videos on landing pages to increase conversions!
Danny Wood is the founder and owner of BrokerageNation.com, a company providing
seminars, online training, technology and real estate
content for agents and brokerages.
Want to take your online presence to the NEXT LEVEL?
Don’t miss this great opportunity to learn how to optimize your online presence and effectively capture leads!
To register, contact the Winterberry Office:905-573-1188, ext. 2400 or [email protected]
MONDAY TUESDAY WEDNESDAY THURSDAY FRIDAY1 2 3
6 7 8 9 10
13 14 15 16 17
20 21 22 23 24
27 28 29 30 31
THE RE/MAX LAUNCHPAD
DATE: Tues. March 14 TIME: 10-12 LOCATION: Winterberry Office MENTOR: Amanda Ward (from RE/MAX INTEGRA)
REGISTER BY FRI. MARCH 10This class provides a comprehensive summary of all the tools, websites, resources and insider tips available to RE/MAX affiliates. Learn how to use these tools in your listing presentation, to market your listings, and to showcase the value of the RE/MAX brand. Includes basic Fivestreet and Design Centre training.
WEBFORMS FORBEGINNERS
DATE: Thurs. March 8 TIME: 10-12 LOCATION: Winterberry MENTOR: Joey Zurini
REGISTER BY TUES. MARCH 6
Is WebForms a mystery to you? Let Joey help you learn how to create a transaction kit with all of the pertinent forms, and how to access clauses to help you do business faster and more efficiently when typing an offer. Please note: this session will only concentrate on the logistics of typing an offer and related documents, not the actual information that should be in an offer. LAPTOP IS MANDATORY FOR THIS SESSION!
DOCUSIGN: A MUST HAVE TOOL!
DATE: Wed. March 16 TIME: 10-12 LOCATION: Burlington South MENTOR: Joey Zurini
REGISTER BY MON. MARCH 13
Come for a quick hands-on session to learn how to send, sign, and approve documents from wherever life takes you! From Getting Started, to learning to connect Docusign with Webforms, and how to begin the signing process using the dozens of pre-made, easy-to-use templates. Keep your transactions secure and delight clients with an amazing customer experience!
LAPTOP IS OPTIONAL.
(WINTERBERRY)
MARCH 2017
CONTINUING EDUCATION
TO REGISTER FOR ANY OF THESE SESSIONS, CONTACT THE WINTERBERRY OFFICE:
EXT. 2400, 905-573-1188. or [email protected]
MTG: DUNDURN10:00 am
REALINTRO ONLINE CONSUMER ENGAGEMENT
TOOL (WINTERBERRY)
THE RE/MAX LAUNCHPAD (WINTERBERRY)
EFFECTIVE COMMUNICATION
IN BUSINESS(WINTERBERRY)
MTG: ANCASTER10:30 am
TECH DAY BOOTCAMP(WINTERBERRY)
RAHB MATRIX TRAININGGrand Olympia
2 sessions available
REALINTRO ONE-ON-ONE(QUEENSTON)
CREATE YOUR OWN REAL ESTATE INVENTORY
(WINTERBERRY)
MTG: QUEENSTON10:30 am
MTG: UPPER JAMES & WINTERBERRY1:30 pm
MTG: BURLINGTON SOUTH 10:30 am
MTG: BURLINGTON NORTH1:30 pm
WEBFORMS FOR BEGINNERS(WINTERBERRY)
INTERNET LEADS & LANDING PAGES FOR BUYER & SELLER LEADS WITH DANNY WOOD
(WINTERBERRY)
RAHB MATRIX TRAININGBoard Office
3 sessions available
Ticket order forms available on OFFICE TOOLS: HOME SHOW TICKET ORDER FORM. Tickets will be dropped off at the Burlington South office and sent to you via inter-office courier.
CREATE YOUR OWNREAL ESTATE INVENTORY
This session is designed to give you ideas about how to create your own listing inventory. Listing inventories are not keeping up with the greater demand. Learn how to replenish your listing stock to create more sales.
DATE: Tues. March 28 TIME: 10-12 LOCATION: Winterberry MENTOR: Conrad Zurini
REGISTER BY FRI. MARCH 24
REALINTRO: ONLINE CONSUMER ENGAGEMENT
TOOL TRAINING
DATE: Tues. March 21 TIME: 10-12 LOCATION: Winterberry MENTOR: Virginia Paul
REGISTER BY MON. MARCH 20
RE/MAX Escarpment has developed a comprehensive online consumer engagement tool that is ideal to use as a pre-list package, outlining your services, areas of expertise, testimonials, videos, listings, sold properties, blog articles, etc. Join Virginia to learn the ins and outs of this program, and how to set up your personal information in a way that highlights your strengths and positions you as the best choice for potential clients.
CONTINUING EDUCATION
REALINTRO: ONE-ON-ONE GUIDANCE
DATE: Tues. March 28 4 SESSIONS: 9:30 – 10:15 11:00 – 11:45 1:00 – 1:45 2:30 – 3:15 LOCATION: Queenston MENTOR: Virginia Paul
REGISTER BY FRI. MARCH 24Excited about Realintro but not sure where to start? Is your Realintro profile up and running, but need suggestions about how to take it that step further? This is your opportunity to sit down with Virginia for a 45 minute session to answer questions, consult about content & troubleshoot any problems you may be having. NOTE: This session is intended for those who already have a Realintro Profile and have attended the REALINTRO Consumer Engagement Tool Info Session.
SE
INTERNET LEADS & LANDING PAGES FOR
BUYER & SELLER LEADS DATE: Wed. March 22 TIME: 10-12 LOCATION: Winterberry MENTOR: Danny Wood
REGISTER BY FRI. MARCH 17
We’ll explore what makes a good landing page, the elements that make them effective, and examples of ones that work and how to actually drive traffic using social media. Think of house value pages, property search pages, seminars, client appreciation events and more.
As a bonus we’ll also be covering using videos on landing pages to increase conversions!
EFFECTIVE COMMUNICATION IN
BUSINESS
Have you ever wondered why some REALTORS® are successful, why the majority are average, and why many do not flourish in our business? This course will offer concrete ideas and strategies to help you effectively communicate with prospects, clients, and other REALTORS®. Good communication translates into relationships, deals, and income for you. Learn the 7 C’s of Communication, and why it is so important to learn these skills in order to become a great listener. By building on your existing listening skills, you can take your business to the next level.
DATE: Wed. March 29 TIME: 10-12 LOCATION: Winterberry MENTOR: David Yunker
REGISTER BY FRI. MARCH 24
• Dundurn Office Meeting: Thurs. April 6 @ 10:00 am
• Ancaster Office Meeting: Thurs. April 13 @ 10:30 am
• Publication of 2016 RE/MAX Escarpment Awards: Hamilton Spectator, Saturday, April 8
• 2016 Awards Celebration: Tuesday, April 18,6:00 pm - details to follow
Offer your clients the VIP treatment, with the following perks:
• Exclusive VIP entrance to the show
• Complimentary Coat Check
• Complimentary Wine, Coffee, Tea, Water
• Exclusive Front Row seating at the Idea Super Stage
• Exclusive VIP autograph opportunities with Idea Super Stage Talent
• 2nd Visit Free - tell your clients to register when leaving the first day, and they will get in FREE with their VIP tickets the next day too!
TECH DAYBOOTCAMP
DATE: Thurs. March 23 TIME: 9:30 – 12:30 LOCATION: Winterberry Office MENTOR: Joey Zurini
REGISTER BY MON. MARCH 20Take the guess work out of technology at RE/MAX Escarpment— open to ALL AGENTS, not just new ones! Includes: • Internal and external RE/MAX tools, including QOC
(Virtual Office incl. message & showing summary), Company Website, Logging into MCS to access company message board & Office Tools for Spec Online, Community Videos, etc.
• Useable statistics on Realtor.ca/Fusion/Matrix• Learn 5 pieces of Price Improvement Ammunition
A LAPTOP/DEVICE IS MANDATORY FOR THIS SESSION!
TO REGISTER FOR ANY OF THESE SESSIONS, CONTACT THE WINTERBERRY OFFICE:
EXT. 2400, 905-573-1188. or [email protected]
March 31 - April 2, 2017 Canadian Warplane Heritage Museum
Presented by RE/MAX Escarpment, the home show is the perfect opportunity for you to touch base with past and present clients.
Every year in the first week of November the National Association of REALTOR®s meets at their annual conference. At this conference they release the most comprehensive study on real estate consumer behavior. This study started in 1981, with 59 questions, and has grown, 35 years later to a 132 question survey of 5,465 respondents across the US.
I know it’s not Canadian, but we cannot deny the 2016 Profile of Home Buyers and Sellers’ importance to our industry. Let’s be honest. I don’t think consumers of real estate services have a different set of needs from Istanbul, to Lisbon, to London, to Philadelphia to Hamilton. As far as Sellers, go they want the most amount of money in the least amount of time.
So, let’s look at a few numbers which I feel are a measurement of the temperature of the real estate consumer.
• Seller was referred to by friend, neighbor or relative: First-time Seller 46%, repeat Seller 35%
• Seller used agent previously to buy or sell a home: First-time Seller 22%, repeat Seller 28%
• The number 3 method used to find an agent to sell their home was (surprise, surprise), personal contact with a REALTOR® by telephone, email etc.
What Sellers want most from agents by level of service provided by agent (in order of importance):
• 73% of buyers (who eventually turn into sellers) are under 50
• 50% of buyers are under 36 and 42% are between 18 and 34 (the largest group of buyers)
Now for the eye opener:
• 80% of under 36 use mobile devices when shopping for a home
• 44% of all home buyers begin their buying process online, only 17% of home buyers start their process with a real estate agent.
• After looking for homes online the second action millennials take is looking online for information about the home buying process. And tied for third place is contacting a friend or relative about the home buying process and contacting a bank or mortgage lender. And rounding off number 5 action taken during the home buying process is contacting a real estate agent.
• 58% of millennial buyers (those under 36) seek input from their social network.
What does this all mean?
Buyers and sellers have specific needs and look to technology to fill their knowledge gaps. Self-directed education is a cornerstone to the home buying and selling process. So the REALTOR® who takes into account these various aspects will attract the next generation of buyers and sellers to their brand of service offering, knowledge delivery and best in class service.
Level of service sought from the Agent by the Seller in order of importance
A broad range of services and management of most aspects of the home sale
A limited set of services as requested by the seller
Help seller market home to potential buyers 1 2
Help sell the home within specific timeframe 2 1 (tie)
Help price home competitively 3 3
Help seller find ways to improve their home and sell it for more 4 4
Help find a buyer for home 5 1 (tie)
You can find the 2016 NAR Profile of Home Buyers and Sellers on OFFICE TOOLS: NAR PROFILE OF BUYERS AND SELLERS
It seems like Girl Power is alive and well at RE/MAX Escarpment. The last 5 or so lunches have been women, so when I asked Jess Fabrizio who she wanted for the next lunch, she immediately said Tricia Taffs!
Tricia and I went to Hamilton’s newest hottest eatery, The French! It was packed on a Thursday afternoon with all the proverbial ‘cool people’ of Hamilton. The Mayor was behind us, and all around were developers, lawyers and various entrepreneurs, to name a few.
I had a Tuna Nicoise Salad and a glass of a snappy Viognier and Tricia had the Grilled Vegetable Roti and Prosecco. The atmosphere is perfection and it was warm enough to be on the patio.
Tricia started her career in real estate in 2005 at Coldwell Banker. 5 years later she came to RE/MAX Escarpment. “I immediately noticed the difference after I took the leap. When going to CMA’s, people would say, ‘Oh, you are with RE/MAX!’. I quickly came to know that people not in the business felt the people who sell the most real estate are with RE/MAX.”
Who are some of the people who had an impact on your career?
Her first response was her Dad, who was an entrepreneur in the HVAC business. He told her “keep hustling (work hard), never rest on past successes, move forward and the business will follow.” Tricia also remembers two REALTOR®s who had an impact on her early career, Charlie Cacilhas and Nancy DiCosimo. Charlie was extremely generous and allowed her to shadow him at listing presentations, open houses, etc. And Nancy was a mentor to her. “She always had an open house for me to work whenever I wanted. Nancy has a strong brand in Binbrook and I got to experience that first hand, and that has always impressed me, and shaped my notion of brand ever since.”
On brand and balance
In search of life work balance and to strengthen her brand, Tricia decided to join forces with Doug Folsetter. “Doug is successful in his own right. For about a year we covered each other’s vacations. He was awesome with my clients. He has a strong work ethic and service level, so it was natural for us to get together to form the Folsetter-Taffs Team.” Creating this team has allowed Tricia and Doug to enable some balance in their lives. More importantly, it has allowed them to have the time to work on their business not just in their business. That’s where the branding comes into play and developing systems to enable their team to have a ‘best in class’ service proposition. Doug and
Tricia have been working on some branding videos which show a lighter side to their partnership, and they are developing more educational-type videos to help their clients make a more informed decision throughout their buying and selling experience.
What advice do you have for REALTOR®s starting today?
“Don’t be afraid to be yourself. Respond to your clients even though you know it’s going to be a difficult conversation, and, most importantly, don’t get discouraged by what’s happening in the world and the market around you.”
What is something no one tells you about being a REALTOR®?
“Trust your instincts. Trust your gut. People make a lot of promises they can’t always keep. Expect the unexpected.”
Give us a tip on one of your best lead generating activities.
For new agents, open houses are a great lead generating source for Tricia. “I love open houses”. She starts by making sure she is aware of everything that the neighborhood has to offer. “Do your homework and be prepared”. Drive it a few times, and review sales history etc. She makes her open houses like a ‘party’ with food and making sure she gets as many people out to her open house event as possible. “And don’t forget the after party, which is the most important part. The follow-up and making sure I enter all of the potential clients in my Top Producer CRM.”
What have been some break through moments for you in your career?
One was getting the RE/MAX Hall of Fame Award in just 5 years. The next was achieving the RE/MAX Platinum award which proved to Tricia how she could not only maintain her business but she could grow it as well. Joining forces with Doug Folsetter and hiring an assistant were all career break-throughs which have made a difference. But the biggest impact on Tricia’s career is something which we can all learn from and which she is the most proud. It is what Tricia calls her ‘being present in your current situation.’ ‘Most of us have so much going on that we are there, but not there. When you are present, you have so much more to give to your clients, to your family and to the people around you.” She learned this through her volunteering with City Kidz, where she spends time these special children, showing them how important they are and how valuable they are to our community. It has brought her into the moment, and it has shaped how she is as a REALTOR®, a mom, and a person.
PLEASE JOIN US IN WELCOMING
LynnHOFFMANN
Broker/Manager Burlington Downtown Branch
Wealth Services & Luxury Affi liates
905-631-8118 I lynnhoff [email protected] Brant Street, Burlington - OPENING SOON!
As we look forward to warmer weather and a new growth of flowers, trees, and grasses, it is time to change our clothes from winter parkas to lighter jackets. So far, we have been fortunate, and have had to only shovel or plow small amounts of snow. Let’s see how early spring treats us.
Since we may have built up energy from inactivity during the past few months, why not put that excesss energy to its best use by getting to some major SEED PLANTING. Connecting with those who are in our databases is an excellent idea. “But, wait a minute”, you may be saying. “I already did this last year, so why should I do it again?” Interesting question for some of you, and a sad truth for many more of you. WHY? Because the majority of Agents do NOT communicate with their clients after the sale. Many agents do NOT even have an organized database – in a CRM (client retention management system). Many do NOT communicate at all!!
I am not kidding you. It is the truth. As often as Managers and Broker/Owners preach about a CRM, about systems, about communicating with our past and present clients, about 30-40 database touches per year, it is amazing that the message is not being received. In many of my Coaching sessions, I ask about a CRM, systems, communicating with your SOI (sphere of influence), and I am so very surprised as to how many of our Agents do NOT have ANY of these systems in place. They are, for the most part, focused on TRANSACTIONS, instead of BUILDING RELATIONSHIPS with people, and focusing on always expanding their databases.
Without a CRM and systems (checklists), it becomes a major challenge to “plant seeds” with one’s database, let alone doing so multiple times each year. Think of it as driving to a destination without a GPS. The drive becomes guesswork as to whether or not the destination will be reached. If our eye is not on the target then the target will be missed and chasing a transaction will commence again. Then repeat.
Here is a plan that can be easily implemented and repeated on a regular basis – like planting seeds everyday:
1. Select a CRM that suits your needs. Investigate Ixact, C o n t a c t u a l l y , Top Producer, SalesForce, Streak, and others).
2. Set up systems (checklists) for each and every activity that you perform (listings, open houses, offers, Faltour, Docusign, marketing, lead follow up, lead conversion, database contact details, CMAs, etc.).
3. Set up a plan of action to stay in touch with the people in your database, including the activities to be performed and how often.
4. Determine which of your past clients or SOI deserve your attention on either a weekly or monthly or semi-annual basis, and choose how you will continue to plant seeds with them and how you will cultivate (water) these seeds.
5. Repeat steps 1-4.
I should explain what “planting seeds” means. It means performing activities that are of VALUE to those in your database on a continuing basis. These activities include but are not limited to staying in touch with your database, sending information that is of VALUE to the recipients, meeting with people in your database to re-establish relationships, ask for referrals, host client events, host seminars, and many more.
The idea is to be active and give people reasons to utilize you and your knowledge and experience in a real estate transaction. Your activity, your planting seeds, will reward you in the future.
Happy planting
Cheers, David
David YunkerBroker/Manager/
Career Coach
The
partners fyi
35 Stone Church RoadAncaster, ON L9K 1S5
T 905.521.3000F 905.577.1023
101 Queen Street SouthMississauga, ON L5M 1K7
T 905.826.3215F 905.890.0100
4125 Upper Middle Road, Burlington, ON L7M 4X5
T 905.681.2721F 905.681.8694
6715-8th Street NE, Suite 140, Calgary, AB T2E 7H7
Tel: 403.241.2288 • Toll-free: 1.866.472.0721 Fax: 403.241.5912
1.800.263.5173 • www.mhcinsurance.ca
Mainway Hunter Creighton Insurance Inc.
Samantha Hamilton1100 Walkers Line, Suite 600, Burlington, ONp: 905-335-7458 [email protected]
Call your inthesquare RBC Royal Bank mortgage specialist today for details:UPPER JAMES, WINTERBERRY& QUEENSTONKatie Morrison905.515.1173
DUNDURN
John Wilkinson905.379.2820
ANCASTERJennifer Adair289.887.0291
Jenna McPherson289.339.6408
ANCASTER
Jennifer Grindatto905-462-4862
BURLINGTON NORTH & SOUTH
Older homes can come with a lot of charm, but they may also have quite a few insurance implications. When looking to purchase a new home, keep a watch for some of these risks that can affect your insurance costs and availability.
Galvanized steel plumbing
• Found in homes built before 1950;
• life expectancy 40-50 years
• they corrode and rust from the inside out
• Increased risks of leaks, ruptures and floods
60-amp electrical service
• Found in homes built prior to 1950
• Threat of electrical fire to overuse and overheating
• May cause the insurance to be categorized as “substandard” until upgraded to at least 100 amp service
Knob and tube wiring
• Found in homes 50 years or older
• No ground wire
• Due to age they are vulnerable to damage and exposure
Aluminum wiring
• Used mid 1960’s- late 1970’s
• Must be inspected by the Electical Safety Authority (ESA) with certificate provided
• Many insurance companies will accept previous homeowner’s certificate depending on dates
Ki-Tec plumbing
• Used between 1995-2007
• Earlier failure due to excessive water pressure of running at temps over 77C.
• May be identified by bright orange and blue pipes, but other colours also sold
• Best place to spot is by hot water tank
• Can cause a decline, or limited water damage coverage through insurers.
RBC Royal Bank working with RE/MAX Escarpment to provide mortgage solutions.We can help make the best decision for you, from planning your down payment, to choosing the right mortgage options.
Fast, Firm Approvals - Enjoy our preferred rates for up to 36 months from the time of approval.*
• Firm approvals and help arranging your RE/MAX Escarpment Realty financing. Call today for information or to apply for a mortgage.
• Free advice on a range of RBC Royal home financing products, available where and when you want.• Manage your home-equity borrowing with our flexible RBC Homeline Plan. Apply only once and receive
a credit limit of up to 80% of the value of your home.**• HomeProtector critical illness, disability and life insurance is available while your home is under construction and can
provide protection even before your mortgage payments begin.
Call today for information or to apply for a mortgage approval of your home, workplace or anywhere that’s convenient for you.
Rates subject to change without notice. Offer may be changed, withdrawn or extended at any time, without notice. Not available in combination with any other discounts, offers or promotions. Terms and conditions apply. *Applies to selected properties only and subject to meeting credit criteria of RBC Royal Bank. **The lesser of the appraised value of the purchase price. *HomeProtector critical illness, disability and life coverage begins once you apply for and obtain the coverage and are approved for the mortgage. No premiums are collected until the mortgage funds are advanced and regular mortgage payments begin. HomeProtector is the creditor’s group insurance program, underwritten by The Canada Life Assurance Company, and is subject to terms, conditions, exclusions and eligibility restrictions. Please see the HomeProtector Certificate of Insurance for full details.
THE INSURANCE IMPLICATIONS OF PURCHASING AN OLDER HOME
Hamilton Mountain: 1595 Upper James StreetHamilton, ON L9B 0H7Tel: 905 667 2990Fax: 905 667 2991
Stoney Creek: 860 Queenston RoadStoney Creek, ON L8G 4A8Tel: 905 963 7312Fax: 905 963 7328
North Burlington: 2180 Itabashi Way, Unit 4ABurlington, ON L7M 5A5Tel: 905 319 0369Fax: 905 319 8390
Hamilton Downtown: 154 Main Street EastHamilton, ON L8N 1G9Tel: 905 681 6998Fax: 905 635 6886
www.escarpmentlaw.com
ALDO BERLINGIERI Law Professional Corporation
DOUGLAS J. DEPAULO Professional Corporation
ALANNA C. STEPHEN B.A., LLB., J.D.
AMEY HANNA B.A.(Hons), J.D.
escarpmentlaw
REAL ESTATE LEGAL FEES
Purchase $595Preparation of Mortgage Documentation $150Total $745 + HST
Sale $545Discharge of a Mortgage $150Total $695 + HST
Mortgage/Refinance $495 + HST
*Fees are for single-family residences up to $500,000. For transactions in excess of $500,000 please add $100 to fees for each $100,000 up to $1,000,000. For example, our fee would be $795 + $150 for a purchase transaction value of $650,000 with a mortgage. Please advise if there is more than one mortgage.
Please budget for related disbursements such as title searches, off-title searches, execution certificate(s), property tax certificate, cheque certifying, deed & mortgage registration, etc. If purchasing, please also budget for Title Insurance & Land Transfer Tax. Additional fee applies for bridge financing.
Please call our office for more information or to obtain a quote specific to your transaction.
Preston SchmidtAgent # M08003906
Jason LongeAgent #M15001698
Miles Kulik MBABroker #M08003254
[email protected]/mileskulik
I have over 20 years experience in the home financing industry and have worked on all sides of the corporate fence, including brokering, owning and also managing brokerage companies. These years of experience have taught me numerous things, but most importantly that “it takes a lifetime to gain someone’s trust, but only a moment to lose it”.
Finding the best mortgage for your needs is a guarantee, but it is only the beginning. Who is going to be in your corner to provide independent advice after the deal closes? Don’t accept a 1-800 number as your only solution to ‘getting’ answers. Its time to work with a professional that is committed to being there when you need someone most. We offer competitive mortgage solutions for self employed, first time homebuyers, investors, and truly enjoy a challenge. I am looking forward to the opportunity to earn the trust of the City of Burlington and the Real Estate Professionals of RE/MAX Escarpment.
Miles Kulik
www.mhcmortgages.ca
905-639-9999
MBA • Broker #M08003254
FSCO Lic. No. 11932
Email [email protected]/mileskulik
Jim CookAgent #M08001302
Chrissy WalkerAgent #M16001217
FSCO #11932
partners fyiThe following information was gathered from Treb Home and a recent Ipsos survey. The in depth report is titled Market Year In Review and Outlook Report 2017. The information provided here came from 1,000 recent buyers interviewed for a survey and they were from the GTA. Even though these recent buyers were not exactly from our marketplace, it does provide recent insight into the characteristics of buyers. It is interesting to note that many of these highlights are causing buyers to look further outside of the GTA and are having a great impact on our markets. Take a look at the average price paid by these buyers and you will get a glimpse into why the Burlington/ Hamilton market is so hot! Enjoy the read...
IPSOS RECENT HOME BUYER PROFILE (Shared by Treb Home Market News Release Jan 2017)
In November 2016, Ipsos undertook a survey of existing homeowners in the GTA on behalf of TREB. Of the 2,500 households surveyed, 1,000 had purchased a home in the previous 12 months. These 1,000 households were considered the “recent buyers” for the purposes of producing a 2016 recent buyer profile for this report.
• On average, recent home buyers reported a purchase price of $672,023, which falls within the range of a typical home price for 2016, as measured by the MLS® HPI Composite Benchmark Price. This result was up by 13.5 per cent compared to the average price reported to Ipsos by recent home buyers in 2015, at $591,790.
• The average down payment percentage was approximately 29 per cent for households that purchased a home over the last 12 months – almost identical to the result reported by Ipsos for 2015. Typically, close to half of the down payment came from RRSP or non-RRSP savings. Approximately one-quarter of the average households down payment came from existing home equity. The remainder of a typical down payment came from a gift from friends or family (13 per cent) or other (undefined) sources (17 per cent). (see chart)
• Similar to 2015, more than half of recent buyers used a fixed rate closed mortgage for their purchase. A five-year term was most popular. The most common mortgage rate was between 2.0 per cent and 2.99 per cent.
• The average income for a recent home buying household was almost $98,000.
• Taking into account the average purchase price, the average down payment, and a mortgage rate of 2.9 per cent (within the most popular range), the share of the average household income dedicated to mortgage principal and interest on a recently purchased home was approximately 27 per cent. Even after adding property taxes and utilities costs, the share of income dedicated to major carrying costs would likely be well-below the federally mandated affordability ceiling of 39 per cent.