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Archive for February, 2015

real estate sales professionalFrom time to time we hear about real estate sales professionals who feel that technology is impacting personal relationships in real estate and that personal relationships are what makes real estate sales professionals thrive. While online technology, social media and mobile apps have changed the way that we market, communicate and work, these things are also changing the landscape in terms of a real estate sales professional’s ability to expand their business, targeting more areas.

In the past, and even now, some real estate sales professionals would focus on a small specific area and become an expert in that area. That is because, before, to become an expert in an area, you would need to know the community to be able to knowledgeably discuss its demographics and also the types of properties in the neighbourhood.

The question is, does a real estate sales professional still need to have boots on the ground to know enough about a particular area to discuss it with a client? We would like to challenge this thinking.

What does a client want to know about a neighbourhood? Who lives there, age of families, religions, ethnicity, types of homeowners (renters vs owners), where schools are, transportation, churches, community centres, etc…  They will also want to see things like locations of rail roads, factories, golf courses, ravines and other things that could improve or reduce the value of the property.

What does the client want to know about the property? What is the sales history, is it worth the list value, what chances does it have to increase in value?

All of this information can be discovered through the use of different applications that can, at the click of a mouse, answer all of the above questions and more. So how does this change the real estate landscape? While you may want to be integrated into a particular neighbourhood because of the value in establishing recognition and marketing yourself – you don’t necessarily have to be to be an expert in that particular community.

Well now you can cast a wider net (how wide is up to you) and deal with larger regions, which in the end will mean more business!!! This is a big world and if you want to be more competitive being able to offer more matters.

It seems as though, with the numerous changes on the real estate landscape, it isn’t so much about what you know anymore as much as it is about what you CAN know, and how quickly.

For more about the tools that can make obtaining this information easy, quickly, please visit www.geowarehouse.ca today.

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What is a Property Title Search?

Author: GeoWarehouse
February 18, 2015

parcel registerWe often blog on this topic because it is a constant source of confusion for many involved in a real estate transaction – mortgage brokers and real estate sales professionals respectively. When many think of a Parcel Register* they reference it as a title search.

A title search is something that real estate lawyers perform. It is a series of searches and documents that are reviewed by the lawyer to certify that title is clear. That said, even a comprehensive title search can miss things, which is why title insurance has become so popular.

However, title insurance can’t prevent your deal from blowing up in your face because something comes up on closing. The Parcel Register* is the aspect of the title search that looks at the history on the property title – making those issues apparent before any real problems arise. A loose example would be kind of like a credit report – but for real property.

Here is what you can learn from the Parcel Register*:

  • The legal description of the property and PIN (Property Identification Number)
  • Who owns a home at the exact time you perform the search
  • The type of ownership
  • The history of title transfers, from/to information and names of sellers and purchasers
  • Registered mortgages – when they were registered, who registered them and the amount registered
  • Registered liens – when they were registered, who registered them and the amount registered and more….

Should something turn up on a Parcel Register*, you can then request an Instrument Image of a particular transaction and view pertinent details, such as the contact information for the registrant to resolve issues that can be resolved.

Sometimes a mortgage can show up on title which is in fact paid off but has not been discharged. When discovered, this type of issue can delay a closing, but if discovered early on can be resolved. Something like uncovering other people on title can enable you to obtain signatures from all legal homeowners. Reviewing registered mortgages may show you that your client doesn’t have enough equity in their home to pay your fees.

The benefits of the Parcel Register* for real estate sales professionals are vast. Here is a sample parcel register that you can review to see the formatting and how easy it is to review.

ParcelRegister-SAMPLE

To find out how to order a Parcel Register* and avoid issues early, before they become major problems, please visit www.geowarehouse.ca today.

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

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Make ViMO Your Valentine

Author: GeoWarehouse
February 11, 2015

Valentine’s Day is here! If you don’t have your Valentine yet – make ViMO your Valentine. ViMO enables you to get connected to prospects, clients, and colleagues and promote your best attributes… including your listings.

ViMO 2

Create more effective, stronger, long term relationships that benefit all involved, with ViMO. Visit www.myvimo.ca today for more information.

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February 2, 2015

condo status certificateObama is not the only one who can say ‘Yes You Can!’ Wait, did he trademark that? Ok well, even so, if you have requested a Condo Status Certificate in the past then you know it is a behemoth of a document! More than 100 pages in many cases. Why? Because it covers absolutely everything you need to know about a condo and the condo corporation that manages it.

Never mind being huge, the Condo Status Certificate has always been seen as a huge pain in the butt. In the past, you would have to write and render payment to the condo corporation, which in itself could take a few days, but you also would have to wait 10 days and then arrange to have the monster Status Certificate picked up.

Well, the alliance between Teranet and DTech has changed all that.

GeoWarehouse customers can simply run a search on a property and if a Condo Status Certificate is available, you can simply render payment online and receive the condo status certificate digitally!

If you would like to learn more about how you can request Condo Status Certificates online from within GeoWarehouse please visit www.geowarehouse.ca or call us today at 1-866-237-5937.

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