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Archive for May, 2014

May 26, 2014

We released this video back in January 2013 and got a lot of positive feedback – many real estate sales professionals found it really useful. For this reason we decided to flash back and share our training video about how you can access Year Built information and learn the year that a home was built. This video will show you how to access information through:

  • GeoWarehouse Residential Report Level 1 MPAC Assessment Report
  • GeoWarehouse Residential Report Level 2 MPAC Assessment Report
  • GeoWarehouse AVM Enhanced Residential Report

 

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Real Estate SalesMobile apps have made doing almost everything easier, and it is no different with real estate. We all know that real estate is a profession where individuals are on the go constantly, and most real estate sales professionals have come to realize that embracing different technology makes adapting in this fast-paced profession that much easier.

So what apps are out there that real estate professionals are buzzing about?

  • WhatsApp – This is a free app that enables you to send and receive text messages from anywhere for free. When it comes to communicating on the go with co-workers, colleagues and even family, this app puts money back into your pocket.
  • ViMO – ViMO is a premier sales and marketing support tool that enhances your personal brand by allowing you to use mobile technology provide a better client experience when face-to-face with your prospects and clients, all  from your iPad.
  • Magic Plan – this is an app that enables you to create floor plans by moving your iPhone or iPad around a room taking pictures.
  • JotNot Scanner – this app turns your iPhone or iPad into a scanner, enabling you to share documents on Dropbox, Evernote, Google or even by email.
  • Digital Receipts By Proximiant – you can use this app to organize your receipts digitally. All you do is snap a picture of your receipt, index it and done! You can also use it to generate expense reports and have a much better handle on your receipts and expenses. Real estate sales professionals are constantly spending money on marketing, attending events, parking, gas, lunches and dinners… this app can make keeping this organized much easier.
  • Dropbox – you can store information and documents that can be quickly accessed from your iPad, smartphone, computer or anywhere else you have access to an internet connection.

As you can see, there are a diverse range of apps that real estate sales professionals are using to organize and store data, communicate more fluidly and work more efficiently on the go.

The last thing you want to do is end up with too many apps clogging up your smart phone. Vet the app by Googling it and seeing what people are saying about it. Who is behind the app? You want to ensure that there is big business behind the provider, especially if you are going to be putting your personal information or your client’s personal information in. Only choose apps that are offered by recognizable brands or companies you are aware of through your industry.

For more information about mobile apps for real estate sales professionals please visit www.geowarehouse.ca or www.myvimo.ca.

 

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May 12, 2014

Instrument ImageMany real estate sales professionals are aware of common searches they can perform, such as searches for sales history information, property ownership information, information about a property’s financial standing, neighbourhood sales and demographics information and more. Some real estate sales professionals even go as far as to look as a property’s Parcel Register as an extra step to ensure due diligence.

So what is an instrument image* and why is it something relevant to you?

An instrument image* is an image of documents registered with the Land Registration System of Ontario. When looking at a Parcel Register, if there is a transfer, mortgage or lien and you want more information including the name and contact information of the other party, court file number, registered balance, etc., you are one step closer when you have the instrument image*. Instrument images* are the documents that support mortgages, transfers, liens, condominium declarations and more.

Using this information you will close more deals because you will be able to quickly identify deals that will present an issue.

For more information about how you can obtain instrument images* please visit www.geowarehouse.ca. If you are a current GeoWarehouse customer wondering how you can obtain an instrument image* – watch the training video below – instructions regarding how to obtain an instrument image* are addressed about halfway through the video:

*** Instrument images* are supplied by the registrant and we cannot guarantee the information contained in them or how complete the information is.

* An official product of the Ontario government pursuant to provincial land registration statutes.

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Parcel RegisterThis is a topic we like to repeat-blog on from time to time, but with good reason. When you take on a new client, especially in the case of a new listing, you have to vet your new client. You may take steps to verify that your client is the legal owner of the property, or you may perform sales history and ownership history searches on the property. There are many ways that you can perform due diligence.

In addition, you can also go one step further and verify a property’s financial standing. How can you do this? By purchasing a Parcel Register. In addition to revalidating home ownership information, the Parcel Register will give you insights into a property’s financial standing.

A Parcel Register will tell you a number of things – here is a short list and why each one is relevant to you:

  • Any mortgages registered on title, when they were registered and the amounts registered – this will enable you to avoid clients who don’t have enough equity to cover your commission.
  • History of title transfers – you can see when the property was last purchased and for how much in correlation to your client’s expected list price.
  • Any liens on the property – you can identify a property tax lien, a condo lien or a tax lien from the Canada Revenue Agency. Canada Revenue Agency tax liens have been known to prevent deals from closing because often they will exceed the equity available in the property.

Knowing a property’s financial standing helps you do a better job. If issues show up on the Parcel Register you are in a position to ask your client for more information. For example, sometimes mortgages are paid off but don’t get discharged – this can prevent a deal from closing. Knowing this at the point of listing enables you to educate your client about how they can go about gathering the proof to show you the mortgage was paid and also how to go about getting it discharged before you have a deal closing.

  • If you see that there are mortgages registered that you think are too close to the value of the property, but your client thinks they are less, ask your client for a mortgage statement to confirm the current values.
  • If there is a condo lien – this would have come up with the Condo Status Certificate. If there is a lien from the condo corporation your client has to get you a discharge statement indicating the amount to pay the lien in full.
  • If there is a property tax lien you can ask your client to obtain the current balance by requesting a tax certificate from the municipal tax department.
  • If there is a tax lien from the Canada Revenue Agency the balance will have to be requested by them directly.

Taking the steps to validate a property’s financial standing will save you time and money because no more time will be lost on deals that have underlying issues.

For more information about how you can research a property’s financial standing please visit www.geowarehouse.ca.

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