Everyone is really on Commission

The Washington Post recently laid off a columnist because his blog posts didn't get enough web traffic.

Of course, in the old days, the newspaper had no real way to tell which columns got read and which ones didn't. So journalists were lulled into the sense that it didn't really matter. The Times quotes Jay Rosen, a journalism professor at NYU, “It’s an unusual public rationale for serious newspaper people, that’s for sure.”

Wrong tense. It's not going to be unusual for long.

In fact, in a digital world where everything can be measured, we all work on commission. And why not? If you do great work and it works, you should get rewarded. And if you don't, it's hard to see why a rational organization would keep you on.

You don't have to like the coming era of hyper-measurement, but that doesn't mean it's not here. Seth Godin.

I really appreciate reading this gentlemen's concepts.

While there are agents out there still screaming at the roof tops that they are in the TOP 1% of whatever category they seem to fit; they have genuinely lost the message. Real Estate has gone internet. Having the most listings remaining unsold when every other agent in town has sold out means a) you are truly gifted b) you over price your listings so high that even in this market they struggle to sell. c) your marketing efforts do not move the product.

Clients do not care about what you know, they need to know that you care.

Clients don't care or understand that we are the top agents in our community.

Clients want to know that you can put extra eyes on their listings, get their homes noticed and to stand out on the MLS system. This includes Video's that are interactive. [Not a slide show uploaded to Youtube] When? Today. Not next week. The market is brisk.

Hyper Localism to draw the prospect to your neighbourhood, but years of experience and encyclopedic knowledge about the "hood" and details will keep them on your page.

A wise lady told me this weekend [from Ottawa in shopping] that she selected my services based on my website presence and a lack of spelling errors on my website. I asked for clarification. [She] said "If you can't spell how can you possibly look after my real estate purchase?"

This electronic age we live in will measure all of us based on performance and not puffery.

Choose wisely when selecting a realtor, there is a vast difference.

Mid October Update TREB MLS

Thanksgiving is past, Halloween approaches, and the Toronto Real estate market continues unabated. Media is reporting the “hot market” mid-month check of the Toronto Real Estate Board stats. TREB has reported 4,002 sales so far in October which trends toward another record month; Home sellers are not putting their houses or condos up for sale to satisfy the available buyers. This vacuum is creating a cycle of endless multiple offers.

As fewer are listed More multiple offers. Typically as a seasonally adjusted average the number of homes should increase between August and October. This year the numbers have actually decreased slightly. Right now there are 15,K homes for sale. Last year there were 27K.Rates are stable at 2.25% Variable and below 4.2 for 5 years.

Buyers I am working with right now are struggling to understand why there are bidding wars for properties in the under $500K range in Toronto. The 400 to 500 thousand dollar pocket seems to be the Double Income, No Kids, (DINKS) price point. Human nature is filling their need.

Sales to Listing Ratio and absorption Rates explained.

If you would like an analytical and sensible conversation about real estate and selling your home I welcome your calls and comments. Talk with someone that has 21 years experience with filling your housing needs. Remember, Experience is not expensive but it is priceless.

Your Cottage and keeping it in the family

Ahh, your cottage – a place of sanctuary, family fun and warm memories. But passing along a cottage to the next generation can set off complex financial and family issues. Here are some suggested steps to ensuring cottage continuity.

Know what your kids want You know that cottage ownership is a big personal and financial responsibility that is not for everyone. Discuss this with your children and if any of them are not interested in inheriting the cottage, avoid family squabbles by making sure they are treated fairly in your will.

If you decide on shared ownership, keep in mind that it can be a difficult proposition. That’s why it can be useful to obtain legal advice when you put an agreement in place – about such things as who uses the cottage and when, who pays for repairs, maintenance and upkeep, and the other nitty-gritty aspects of joint cottage ownership – to avoid protracted disputes and misunderstandings.

Manage the tax burden If your cottage has appreciated in value, your estate can face a significant capital gains liability that could force its sale by your heirs.

Capital gains taxes are based on the difference between the cost of your property and its current fair market value at the time of your death. The cost of your cottage is what you initially paid for it plus the value of any capital improvements you made to it over the years – a new deck or roof, for example, including the cost of anyone you hired to do the work for you – so keep your receipts to account for all these costs to help offset capital gains. General upkeep costs such as painting the cottage are generally not considered capital improvements.

Consider taking advantage of the primary residence exemption. You are allowed to name a primary residence that is exempt from tax on capital gain. The residence must be a property you ‘ordinarily inhabited’. It can be either your city home or your cottage. You are allowed just one principal residence at a time but you can choose to exempt the property with the bigger gain.

Have a succession plan Include an effective strategy for passing on your cottage. One option is to purchase life insurance with tax-free death benefits that will cover the capital gains on your cottage and/or other expenses and avoid the forced sale of estate assets. Life insurance is also a good way to equalize an estate where one child wants to keep the cottage, whereas other children would prefer to sell it and divide the proceeds of sale.

Some of these estate planning options may not work in your situation, so it’s a good idea to talk to your professional advisor about your wishes for your cottage and the financial and estate planning options that will work best for you.

John Scholl B. Mathematics, CGA,

Consultant - Investors Group Financial Services Inc.

Wealth Management & Financial Planning

Phone: (905) 450-2891 Toll Free: 1 (866) 799-2223 Cell (416) 731-3660

Toronto Purchase Closing Costs

Home Buying Closing Costs Toronto GTA Real Estate

How much are the closing costs? How much money do you need in addition to your deposits. All are answered here with a financial income requirement worksheet.

Calculate Land Transfer Tax

Am I able to get First Time Buyer Rebates?

Home Buying Calculation sheet is generated on each property we are seriously considering during our shopping process. At this point you would have already decided condo or freehold ownership, Fixed or Variable Funding for your mortgage.

The Top Half of the Worksheet describes monthly debt payment calculations

The bottom half describes the Taxes and expenses relative to each purchase.

The new HST (Harmonized Sales Tax) will alter many items.

Any House

What do my clients say about me?

There are many videos online with my content that is designed to be educational and informative about life in Mississauga, and ultimately the west Toronto (GTA)

I am very fortunate to have a seller that was willing to go on camera with a testimonial.

I am very grateful to Karen for her contagious laughter, great spirit and zest for adventure in life that made working with her an absolute pleasure.

If you would like to have a similar experience with your real estate transaction in Mississauga, I would be pleased to interview for the position. Buying a home should be a stress free, informed and comfortable situation where you examine all the possible outcomes and then make an educated decision.

This page is intended to solicit those buyers and sellers of homes that have been disappointed in the past. I welcome you to search for your next home on the Toronto West Homes website.

You will not be spammed or converted. Just look at listings. All of them.

Then call me.