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Archive for November, 2013

Real Estate TransactionsYou know better than anyone that when the time comes to close a deal, paper begins to fly! Offers begin going back and forth and this can become time consuming and complicated. As with many other industries, the real estate industry continues to move towards going paperless. According to 680 News, in March of 2013, Canada’s PC Government made it clear that they believe it is time that Ontario approve the use of electronic signatures for real estate transactions. In fact, Ontario is one of the last provinces still manually signing and closing real estate deals.

On June 12, 2013, OREA applauded the passage of the 2013 provincial budget which included provisions to make electronic real estate agreements a reality in Ontario. The budget included an amendment to the Electronic Commerce Act (ECA) which will extend the legal protection of the ECA to include electronic real estate agreements. You can view the Act here http://www.e-laws.gov.on.ca/html/statutes/english/elaws_statutes_00e17_e.htm.

In September of this year, OREA posted an update on the amendment to the ECA forecasting that we will likely see electronic signature capability in 2014.

Some real estate sales professionals have commented that they feel that the ability to sign electronic forms will interfere with face-to-face relationships and engagement with clients, while others have surmised that it could lead to an increase in fraud.

We actually believe it will be quite the opposite. This amendment will certainly lead to new technology and successes for real estate sales professionals across the province. New capabilities will mean that you can do more on the go, service your clients better and close more deals. As Henry Ford famously said, “If everyone is moving forward together, then success takes care of itself!”

With the introduction of mobile applications, such as ViMO (Virtual Mobile Office), real estate sales professionals will be able to use their tablet in a client meeting instead of preparing and carrying the necessary documents ahead of time. They will also be able to have the client sign their documents electronically. Instead of going back and forth between the client’s home and their office, they can send the documents to the real estate sales professional instantly.

This amendment is a progressive step in the right direction and will lead to more success and prosperity for all.

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At the OREA Roadshow, Jeremy, The Product Manager of GeoWarehouse and ViMO (Virtual Mobile Office), will be unveiling the new mobile application which is tailored to facilitate necessary measures to successfully close contracts. ViMO will be available in the coming months and will remodel the method of handling real estate transactions.

If you would like to follow or learn more about ViMO:

Follow us on Twitter at @GeoWarehouse or @myvimo.

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How Are You Giving Back?

Author: GeoWarehouse
November 11, 2013

We came across this great video produced by OREA that we thought was definitely worth a share. It highlights how different real estate sales professionals are giving their time volunteering to support their colleagues and improve the industry.

We would like to hear how you are giving back. Post a 20 second video about what you are doing to give back and contribute to the industry for a chance to win a Kobo E-Reader. You can submit your entry one of 3 ways:

  1. Posting your entry on the GeoWarehouse Facebook page.
  2. Posting your entry in the discussion thread “How Are You Giving Back” in the Ontario Real Estate Sales Professionals Group (sponsored by GeoWarehouse) on LinkedIn
  3. By tweeting your entry, adding @GeoWarehouse and #HowImGivingBack

You must be a licensed real estate sales professional in Ontario to participate.

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5 Year Canadian Real Estate Trends

Author: GeoWarehouse
November 4, 2013

Real Estate TrendsIt comes as no surprise to most Canadians that, as the country continues to put the last few years of financial instability behind it, housing sales continue to rise. This graph, recently released by the Canadian Real Estate Association (CREA), demonstrates this, outlining some of the different trends that have impacted both spikes and declines. As the graph illustrates, sales in 2013 have been strong and continue to increase, signaling good things for the future. Even with CMHC guideline changes, criticized by some as a bad move as far as future home sales, Canadians are still purchasing and the real estate industry continues to thrive.

Sales right now are the highest they have been in almost three years, but how can you, as a real estate sales professional, work to keep them high? It is simple. With a few real estate tools that make finding the perfect home for your clients trouble-free, you can ensure that those sales are ending up on your desk and the commissions in your wallet.

–        Property Details Report: use this tool to access information regarding MPAC data, ownership, sales history and property images.
–        Neighbourhood Sales Report: use this tool to gauge market value by comparing recent sales in a given neighbourhood.
–        Neighbourhood Demographics Report: use this tool to find out about age distribution, family statistics, average income, etc.
–        Aerial Imagery: use this tool to determine the desirable (and undesirable) features of a neighbourhood.

Get the information you need to find your clients the home they love and close the deal from the comfort of your office.

For more information about GeoWarehouse real estate tools please contact us at 1-866-237-5937 or visit www.geowarehouse.ca.

 

 

 

 

 

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