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Spotlight: A people-first approach to real estate – GuelphToday

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Real estate transactions are personal, emotional, and sometimes stressful experiences for many people—and what makes a great REALTOR® is their ability to competently guide clients through these momentous experiences.

REALTORS® are at their best when they’re out working with clients, not sorting through mountains of administrative tasks. 

For agents who are driven to provide a truly great experience for their clients, the right brokerage can act as a launching pad for successful transactions. Home Group Realty is equipped with an administrative and marketing team that offers responsive and encompassing service, in-house coaching programs, and a truly collaborative culture among team members.

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In an environment like this, skilled agents can thrive and constantly grow. Unburdened by administrative work, their businesses run much more smoothly and they are free to spend more time with their clients. 

Home Group Realty, an independent brokerage in the Guelph Junction, is made up of 45 REALTORS® supported by six administrative staff. The tight-knit team are each specialized in their own departments—whether it be checking all the boxes for a last-minute listing, making sure deals are ready for closing day, or helping agents stay connected with their sphere, the team is poised to ensure a smooth experience from start to finish. Education is also a central part of the brokerage’s success—Broker of Record Paul Fitzpatrick provides 1-on-1 coaching to the team, as well as regular training sessions with industry experts and collaborative team meetings, which have proven to be crucial in the last several years, as we all faced both isolation and a rapidly-changing marketplace. 

A specialized staff like this is key, as marketing, admin and lead generation tasks typically take up about 60 to 75 percent of an agent’s time and energy, leaving little resources to actually work with clients.

“The bulk of most agents’ time is spent trying to find business and stay on top of all of their paperwork,” explains Fitzpatrick. “The way we’ve set our brokerage up, our admin people do the bulk of that work. We really try to take as much off their plate as possible so that they focus their time on taking care of their clients.”

When the brokerage first opened ten years ago, Fitzpatrick made several strategic decisions. He decided it was going to be a very open concept office. “We don’t have any private agent offices.

That’s on purpose, to create a collaborative environment,” he says. It was also important to him that they offered coaching. There are currently three mentors on his team—senior, very productive agents; they take new and new-to-the-brokerage agents under their wing and guide them through industry best practices.

Particularly in a fast market like the one we’re currently in, real estate marketing can feel a bit like the wild west; the Home Group team maintains a high bar for marketing their listings, even when sellers are on tight timelines. Their team knows that going the extra mile is always worth it, even in a hot seller’s market. They also pride themselves on providing ongoing education and resources, in the form of a weekly blog covering the ever-changing market, exclusive partnerships with local businesses and tradespeople, and even family-friendly community events.

“We’re big on coaching our team to look at everything as a relationship versus transactional,” he says. “Historically, most agents out there are independent contractors. They essentially work for themselves, but they work under a brokerage, whether it’s one of the franchise brands or an independent brokerage like ours.”

In most brokerages, agents are responsible for everything they have to do, whether it’s getting coaching, marketing materials, or customer relationship management software. Home Group Realty provides a set standard for all of those components, so their agents don’t have to keep reinventing the wheel.

Because most agents have to spend so much of their time hunting for business, doing administration and marketing, they tend to become general practitioners—and they can lose sight of the importance of the interpersonal aspect of the work. 

“We’ve been coaching our agents that if you’re doing business in a relationship manner, it’s easier to maintain those relationships and grow your business. Business will find you organically; your clients will want to refer the people in their lives to you, because they’ve had such a positive experience dealing with you. The referral business that comes to them is more consistent and allows them to be more productive,” he says. So rather than having agents focus on lead generation, instead they focus on staying in touch with past clients and contacts.

Fitzpatrick would know. He has been in real estate for 35 years—25 of them with a franchise. The brokerage he’s built has a smaller group of agents that are more productive.

“That’s the approach we’ve taken. We don’t want to be the biggest brokerage in terms of headcount. Our goal is to have the most effective and service-oriented agents in the marketplace,” he says.

He worries about the commodification of real estate. Just because most people know at least one REALTOR®, it doesn’t mean they’re all the same and provide the same service.

“If there was one thing I could educate consumers about, it is that they have a responsibility to interview and find the agent that works best for them, because we’re not all the same. Agents offer different levels of service, experience, and qualifications. It’s the same with brokerages,” says Fitzpatrick. “We’re a full-service brokerage and we feel that we offer a consistently higher level of experience for the agents and the clients who choose to work with us.”

Most people move every five to seven years, and the market changes considerably in that timeframe. Even in today’s market, there’s a lot of education that needs to happen with clients before they begin the process of buying or selling. The Home Group team excel at this piece: educating clients on the market, what’s happening with it currently and where they see it going, as well as explaining how the whole process works. 

A real estate transaction is ranked right up there in terms of the top five stressful life events. Says Fitzpatrick, “We make sure that we make a real estate purchase or sale not just frictionless, but actually enjoyable.”

For more information, visit Home Group Realty or call 226-780-0202.

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Hidden Billions in Tokyo Real Estate Lure Activist Hedge Funds – Bloomberg

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The long-concealed market value of Tokyo’s largest skyscrapers is being unveiled by activist investors.

In Japan, there’s a huge gap — 22 trillion yen ($143 billion) by one estimate — between how companies value their real estate assets on their books, versus what those same properties would fetch if sold in the current market. That comes from two factors: First, many of the island nation’s firms have held onto properties for decades, each year writing down the cost of fixed assets due to annual depreciation, a common accounting practice. But at the same time, property prices have soared.

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Real estate in Canada: Housing starts down – CTV News

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Canada Mortgage and Housing Corp. says the annual pace of housing starts in March declined seven per cent compared with February.

The national housing agency says the seasonally adjusted annual rate of housing starts amounted to 242,195 units in March compared with 260,047 in February.

When looking at year-over-year figures, actual housing starts in large urban centres were up 16 per cent to 17,052 units last month compared with 14,756 units in March 2023. The year-over-year increase was driven by higher multi-unit starts, up 19 per cent, and higher single-detached starts, up two per cent.

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Actual housing starts were 10 per cent higher in Toronto and 15 per cent higher in Vancouver year-over-year because of an increase in multi-unit starts. Montreal’s actual starts dipped one per cent, dragged down by lower multi-unit starts.

The annual rate of rural starts was estimated at 21,452 units.

TD economist Rishi Sondhi said housing starts continue to trend “at a solid pace,” even with the month-over-month decline in March, supported by elevated prices and firm pre-construction sales in the past.

But he cautioned that further decreases to the number of starts are likely in the months to come.

“While governments are actively looking for ways to enhance supply, we think that housing starts are likely to decline further this year, on the back of more recent weakness in pre-sales activity,” he said in a note.

“What’s more, industry analysis suggests that financing for purpose-built rental units currently under construction was obtained when borrowing conditions were more favourable. As they’ve turned tougher, this segment of the market could be impacted.”

Month-to-month starts can fluctuate significantly since the launch of larger multi-unit developments can skew numbers. Adjusted starts in March were up 27 per cent in Vancouver, driven by an increase in multi-unit starts, while Toronto and Montreal declined 26 per cent and five per cent, respectively, due to decreases in multi-unit starts.

To smooth out those swings and give a clearer picture of the upcoming housing supply trend, CMHC also reports a six-month moving average of the adjusted rate.

In March, the indicator showed starts at 243,957, down 1.6 per cent from 247,971 in February.

“The slight decline in multi-unit housing starts in March likely just reflects the volatile nature from one month to the next of these large projects,” Desjardins economist Kari Norman said in a note.

“Looking forward, the gradual unwinding of interest rate hikes expected to begin this June will bring cautious optimism to housing starts. However, this optimism is tempered by challenges such as construction labour shortages, inflation in building materials costs and weaker homebuilder sentiment.”

She said those factors could potentially slow the momentum seen in early 2024, despite a favourable shift in monetary policy.This report by The Canadian Press was first published April 16, 2024.

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With supply low, North York condo gets six offers – The Globe and Mail

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Open this photo in gallery:

Re/Max Realtron Realty Inc.

233 Beecroft Rd., No. 1911, Toronto

Asking price: $599,800 (March 2024)

Selling price: $652,000 (March 2024)

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Previous selling price: $240,000 (January 2007); $183,767 (August 2001)

Taxes: $2,219 (2023)

Days on the market: 11

Listing agents: Sam Ahn and Stephen Sun, Re/Max Realtron Realty Inc.

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Improvements have been made to the galley-style kitchen, such as quartz countertops, mosaic backsplashes and stainless steel appliances.Re/Max Realtron Realty Inc.

The action

Spring-like weather and a lack of high-rise inventory around Mel Lastman Square aligned to give this one-bedroom plus den unit a boost in March. Six buyers, all intending to live in the condo rather than purchasing it as an investment, made offers. The highest bid came in $52,200 over the asking price, with a closing date of May 15.

“With the weather being on our side – it was relatively warm – sales being slow in the winter, and hopes that [mortgage] rates would go down, we decided to go low on our price to test the market,” said agent Sam Ahn.

“Half the offers were very competitive, so it was hard to choose among the top three offers.”

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‘The biggest selling feature was the view,’ says listing agent Sam Ahn.Re/Max Realtron Realty Inc.

What they got

On the sub-penthouse level of a 22-year-old building, this 667-square-foot unit has an open living and dining area with a wall of windows and an enclosed den with sliding doors to a balcony.

Improvements were made in the four-piece bathroom and galley-style kitchen. For instance, the latter features quartz countertops, mosaic backsplashes and stainless steel appliances.

The unit comes with laundry machines, plus a storage locker and parking spot. Monthly fees of $609 cover utilities, concierge, and use of a gym and party room.

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This 667-square-foot unit has an open living and dining area.Re/Max Realtron Realty Inc.

The agent’s take

“The biggest selling feature was the view. It was a west-facing, unobstructed view on a high floor,” said Mr. Ahn.

“It’s not a trendy building, but a building with a good reputation and it’s well managed. Having a low maintenance fee was also a key feature, and it included all utilities, which is rare to find nowadays in new condos with meters.”

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