Phil Soper: Millennial housing intentions

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In the housing industry we pay particular attention to the behavioural patterns of millennials, those in their mid-20s to late 30s now, because they are the largest population cohort in North American history.

Commissions: Steering our way into trouble

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Okay, here we go again. A few years ago we had the Competition Bureau down our throats telling us about our anti-competitive behaviour. Their point...

Supply-side constraints first fueled frenzy, then slowdown

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In its latest report on the housing market, the Royal Bank of Canada cited “tight supply” as the primary reason behind a dip in housing activity. In August, housing inventories in Toronto were down 51 per cent compared with August 2020.

The next looming threat to our business and why I don’t care

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For as long as I’ve had my real estate licence, I’ve been hearing all about “the next big thing” that’s going to change real estate forever.

The affordable housing paradox

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One of the least understood and arguably the most abused affordable housing misperceptions is what I call The Affordable Housing Paradox: the higher the property tax, the lower the property value on which the amount of property tax is based.

The pros and cons of virtual home staging

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Virtual home staging has come a long way. Although you can still tell that it is a digitally rendered image, the technology has improved significantly. A virtually styled room looks more realistic than ever before.
These past couple weeks have been busier than ever with client inquiries and we have been steadily working to fill our requisitions. While we have been finding and interviewing great candidates, there have been many occasions where we then see those candidates drop out at the last minute or get scooped up by another employer. It leaves us wondering: what’s going on? Every summer, we see a lull in active candidates. As none of us have been able to do much due to the pandemic, everyone was outside enjoying the beautiful weather and that lull was even more pronounced. That said, we normally go through 100 or so candidates before interviewing and finding the few who are worthy of passing over to our clients to interview. But lately we have been going through double that number. It leaves us wondering where the shift is. The pandemic has changed us all. As everyone stayed at home for most of last year and a half, it occurs to us how disconnected many have become. Working long hours and in a career that doesn’t bring joy is no longer something that some are willing to do. It has shifted the mindset to realize the importance of loving what you do. How can the real estate industry adapt to this mindset? We need to adjust the way our industry is currently set up. We are often asked about work from home options. In most cases, it’s not about wanting to be away from an office so much as about creating a balance that has been lacking for so long. Working from home has been a blessing for those of us who were fortunate enough to do so. The real estate industry should take a look at how it can adapt to allow more of this. There are so many people with children at home and parents need to be there with them in lieu of the expensive childcare that is unattainable for some. A lot of the tasks can be done from home and the industry would benefit from adapting. On the other hand, real estate has been on fire this year. Thanks to lockdowns and travel restrictions, many people are opting to invest in their homes since that is where they are spending the majority of their time. We have seen the increasing need for assistants and administration staff, yet fewer candidates are available. The industry has always been competitive, but now we are seeing the pressure from an administrative side. Good candidates need to be seen and interviewed quickly in order to secure the hire. The real estate industry needs to get with the times to attract the kind of employees they are looking for. Candidates want benefits and work/life balance, which are typically hard to come by. Investing in benefits for your employees is an inexpensive way to attract and value your employees. Understanding that they need to rest and recharge after hectic days will go a long way in keeping them productive and happy in their roles.

Recruiting: Where are all the candidates?

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While we have been finding and interviewing great candidates, there have been many occasions where we then see those candidates drop out at the last minute or get scooped up by another employer. It leaves us wondering: what’s going on?

Dan St. Yves: Cursed by dishwashers

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For such an unassuming appliance, you’d think a humble household dishwasher might function like a toaster or a waffle iron – efficiently and without qualms. As I reflect on three dishwashers I’ve lived with, I beg to differ.

Solving the No. 1 complaint about real estate agents

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“He convinced us to list with him, walked out the door with the signed contract, and that was the last we heard from him until two weeks before the listing expired. Then, he called and pressured us to reduce the price and extend the contract.”

Would a ban on blind bidding make homes more affordable?

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Several pledges by the Liberals concern the housing market in Canada. Among other things, the party declared that a ban on blind bidding during real estate transactions would follow their return to Ottawa.