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Sponsored content: Terry Germain celebrates 30 years in real estate in Estevan – Estevan Mercury

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Terry Germain has seen a lot of changes in real estate in the Estevan area during his career as a Realtor. 

Terry recently celebrated his 30th anniversary as a licensed real estate agent, which is even more impressive when you consider the average real estate agent has a five-year career.

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He ventured into real estate because he believed he needed a change in his life. So he moved to Estevan from Alida in 1990, and started with NRS Border Real Estate, earning his licence in 1991. The late Dennis Moe, who was a big part of the local real estate market for many years, was the NRS broker and Germain’s mentor. 

“He showed me a lot of what to do and what not to do. I miss him. When I get in trouble every now and then, I always think back to what would he do, what would Moe do to get this deal done.”  

He went to work building up his name and reputation in the community, not only through his work, but through playing sports such as hockey and golf, and by supporting local initiatives.  

In 1995, Border Real Estate became a Century 21 broker. Terry would remain with them for another 22 years. 

“I had some really good years, and of course, in any business, you have bad years,” said Terry. 

In 2012, Terry was the No. 3 agent in the country for Century 21 in terms of the number of properties sold. He noted that it reflected how busy all of the agents in Estevan were, as the community was in the boom times.

It’s the type of market he hopes to see again before he retires.

Terry joined Coldwell Banker Choice Real Estate in 2017, and he has been working under their banner ever since. 

“I enjoy the flexibility,” said Terry. “The biggest thing is finding families a home on their biggest purchase of their life. It’s very gratifying to me.” 

He’s been through the boom and bust cycles that have hit Estevan. Terry noted those usually last about seven years. The late 1990s were a tough time to be in the real estate market. And the construction that occurred in Estevan from 2006-2014 created a lot of change.

“We have good industries in this corner,” said Terry. “I’m very fortunate I chose Estevan to make a career.”  

When he first came to Estevan, he didn’t know anyone, and he didn’t know his way around town. Now he knows all the quickest ways around the city.

Terry has seen other changes as well. When he first started, the interest rates were at about 13 per cent. Lower interest rates are a big benefit for the real estate sector.

When he first started, they used to hand-deliver offers for purchases for clients, whereas now they will use email, and they’re using cell phones and other forms of technology to keep in contact with clients.  

Thirty years ago, there was just one form to fill out to complete a purchase. Now they have to complete as many as 12.  

“Real estate is not a 9-5 job. You’re on call 24-7,” said Terry. “You have clients that are on shift work, and of course, when they’re on shift work, you have to go on shift work.” 

He noted on the day of the interview that he had a showing scheduled for 6:30 p.m. that night, The interview occurred on a Friday morning. Another showing was scheduled for two days later on a Sunday morning.

There is also an educational component that every agent needs to complete each year.

In the community, Terry has supported the Estevan Humane Society, Ducks Unlimited and the Royal Canadian Legion’s Estevan branch, and he’s part of the Estevan Strippers hockey club. Earlier this year, Coldwell Banker launched the Homes for the Hospital initiative, in which part proceeds from every home sold by a local Coldwell Banker agent will be directed to the St. Joseph’s Hospital Foundation.

There have been times in which he’s thought it’s time to move on to something else, but he’s toughed it out, and he still enjoys the work. He is glad he went into real estate, an industry he called “gratifying,” and he looks forward to remaining in it for a while yet.  

“Listers last,” said Germain. “If you have the product on the market, you’ll make a go of it.” 

 

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Hot real estate market sparks warnings to potential buyers as complaints to regulator double

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As home sales in the province continue on a dizzying trajectory, the province’s real estate watchdog and regulator are warning buyers to be wary of what they may be getting into.

The Real Estate Council of B.C. (RECBC) and the Office of the Superintendent of Real Estate said that in the first three months of 2021, they have seen an increase in inquiries and complaints.

Calls to the regulator were up 42 per cent over the previous year, while complaints, such as how offers were made and accepted, were double the number received in the same period in 2020.

“Buying a home is one of life’s biggest financial decisions. There are potential risks at the best of times, but with the added pressure and stress of the current market conditions, those risks are amplified,” Micheal Noseworthy, superintendent of real estate, said in a statement.

 

 

The Real Estate Board of Greater Vancouver says sales in the region have continued at a record-setting pace.

Residential home sales covered by the board totalled 5,708 in March 2021, up 126.1 per cent from March 2020, when the COVID-19 pandemic hit, and up 53.2 per cent from February of this year.

Rural and suburban areas have experienced the biggest spikes.

For the past two weeks, Jay Park has been in the middle of the buying frenzy.

He and his partner are trying to upgrade from their one-bedroom apartment to a two-bedroom condo or townhouse in Vancouver.

“I wish we had done this a month or two ago,” he said.

 

A condo tower under construction is pictured in downtown Vancouver in February 2020. (THE CANADIAN PRESS/Darryl Dyck)

 

Park put an offer on a $1-million condo, $4,000 above asking price.

“To entice the [seller], we put in a subject-free offer, but it wasn’t successful,” he said. “They accepted $110,000 over asking price that was also subject-free.”

The hot market has led to bidding wars. Some would-be buyers have even lined up outside for days to try to get a jump on a property.

Erin Seeley, the CEO of the council, is warning buyers to do their research and be aware of risks before making an offer.

“It’s really important that buyers have engaged with their lender before they’re making offers so they know how to stay within a reasonable budget,” she said.

Seeley said some of the complaints the council has heard from buyers is that they weren’t aware the seller has a right to take an early offer.

“And the seller was really in the driver’s seat about setting the pricing,” she said.

 

Demand continues to outstrip supply for housing in cities like Vancouver. (Rafferty Baker/CBC)

 

Aaron Jasper, a Vancouver realtor, advises clients to avoid cash offers and to include finance clauses even if it may mean they lose a deal.

“There’s a lot of frustration among buyers, feeling pressure to take some risk,” he said.

“You’re better to be delayed perhaps a year getting into the market as opposed to being completely financially ruined.”

Jasper also says realtors are limited in the advice they can give to clients on legal matters, home inspections, potential deficiencies with homes, and financing.

‘Caught up in the craziness’

Other tips from the council include seeking professional advice before making a subject-free offer or proceeding without a home inspection, and speaking to a professional to determine how market conditions may be affecting prices.

Meantime, people like Jay Park say they are still keen to buy. Park has more viewings scheduled and is optimistic.

“It’s a very exciting time for us, but I also don’t want to get caught up in the craziness and make a purchase that’s above our means.”

Source: – CBC.ca

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Black Press Media introduces one of Western Canada’s best real estate platforms helping home buyers Find. Love. Live. that new home

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Need an agent who knows the community?

Or, is it time to look for a new place to live, but you don’t know what’s on the market?

Whatever the real estate need is for residents in the communities of British Columbia, Yukon & Alberta, there’s a new way to do that one-stop shopping – by visiting Today’s Home.

The slogan for the site is “Find. Love. Live.”

“We want people to find their dream home, love it, and live in it,” said group publisher Lisa Farquharson.

Building on the success of Black Press Media’s niche digital platforms – Today’s Home brings the same wealth of knowledge and local expertise to the search for a home, be it buying, selling, or even just daydreaming about what changes you can make in the future.

Search hundreds of listings that local real estate agents have available.

The listings cover properties around the region, from a one-bedroom, one-bath condo for $339,900 to million-dollar acreages throughout the province of BC, Yukon, Central Alberta and beyond.

Click on a listing, and see not only the realtor handling the property sale, but links to his or her other listings and social media feeds. With the click of a mouse, take a virtual tour of the property, find the property’s walking score, and learn about nearby amenities.

There are links available to schedule a showing, or send the agent a comment or question.

Want to share a listing? When you click on the share button, you’ll actually send an attractive digital flyer of the prospective property, not just a link.

There’s even a button to help determine how much you have to spend, courtesy of the convenient mortgage calculator.

Plus, scroll down the page on Today’s Home and find a list of expert local real estate professionals who can answer questions or help with that home sale, Farquharson explained.

Today’s Home offers the advantage of the massive reach that Black Press Media has built throughout Western Canada with its network of community newspapers and online products. That allows the public to tailor real estate searches based on location, price, and other key factors while allowing real estate professionals to gain unprecedented audience reach with their listings.

Today’s Home will dovetail into the media company’s existing print real estate publications.

“Black Press Media has real estate solutions in print and now we can add in the digital component,” Farquharson said.

Watch for expansion of the Today’s Home platform in the near future, she added. That will come as Black Press Media adds a new component – the development community. Developers will be able to reach a huge audience when their projects are ready for presentation.

For information on Today’s Home, contact group publisher Lisa Farquharson at 604-994-1020 or via email.

Happy house hunting!

Source: – Aldergrove Star

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PGIM Real Estate, Revera Affiliate Target UK Market in Newly Formed JV

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Real Estate Sales In September

PGIM Real Estate has been active in recent months providing capital to facilitate blockbuster senior housing acquisitions. Now the firm is looking to capitalize on demand for senior housing in the United Kingdom.

The Madison, New Jersey-based real estate investor and lender announced this week it is entering into a joint venture with Signature Senior Lifestyle, an affiliate of Revera, to develop and operate senior housing communities around greater London

Mississauga, Ontario-based Revera serves 20,000 older adults in long-term care homes and retirement residences in Canada. It is also the majority shareholder of Sunrise Senior Living, one of the largest senior housing providers in the U.S. The company operates a portfolio of 12 communities in the U.K. under the Signature Senior Lifestyle brand, with one community in development that is slated to open in autumn 2021.

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The JV has one development underway — a senior housing community, or “prime care” home, in southwest London. PGIM worked with Elevation Partners, a London-based investor and asset manager in U.K. health care real estate, in sourcing, structuring and executing the venture. Additionally, PGIM will retain the firm to leverage its expertise.

PGIM and Revera did not respond to requests for comment from Senior Housing News regarding details about its development pipeline.

London is emerging as a future hotbed of senior housing development, spurred by favorable demographic growth trends and a lack of available supply, and the PGIM-Revera venture will find competition.

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Maplewood Senior Living CEO Gregory Smith told SHN last month that demand for U.K. senior housing is comparable to major U.S. markets such as New York and San Francisco, where supply has historically been constrained.

Maplewood and its investment partner, Omega Healthcare Investors (NYSE: OHI) are looking to expand its luxury Inspir brand to the U.K., and identified five suburban markets around London with high barriers to entry that are favorable for the brand’s growth.

Revera CEO Tom Wellner sees similar untapped upside potential for senior housing in the U.K.

Source: – Senior Housing News

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