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Archive for May, 2017

Prospective buyers want to know the most information possible about a community that they are planning to buy in. When it comes to neighbourhood demographics, this means far more than just those things in the area that a buyer would be interested in like schools, grocery stores, proximity to transportation, etc.

Buyers also want to know about who lives in their community.

  • What are the age ranges?
  • What about job categories – blue collar vs. white collar?
  • What about cultural make-up?
  • Family composition is huge – is the area primarily young families?
  • Is there a high number of families in the community that speak other languages?

This information is highly relevant to individuals who are buying a property and choosing a neighbourhood to live in. People want to live in communities that are populated with people like them. Young families want their kids to live in a community where there are lots of families with children for their kids to play with, while older couples may not be as interested in living in this type of community. In a country that has a massive immigrant population and many newcomers to Canada, knowing if other families of the same culture are predominant in a particular area can have a huge influence over their decision to buy.

How about investors?

  • They will be very interested in the types of professionals who live in a community
  • Renters vs homeowners
  • Rental ranges, etc.

This kind of information is quickly accessible and shows your client that you are a seasoned expert who is able to tell them everything they need to know about a community they are considering buying in.

In 2013, BMO released survey results that highlighted the top 7 things that customers indicated are most important to them in a community they live in:

  • Safe neighbourhoods
  • Quiet street
  • Good neighbours
  • Short commute to work
  • Near family and friends
  • Near stores and restaurants
  • Near public transit

We thought it would be worth including it in this article as it is still quite relevant. Check it out in full here: https://www.theredpin.com/blog/canadians-list-priorities-when-buying-a-home-bmo-bank-of-montreal-survey/.

Accessing neighbourhood demographics information also enables you to increase your coverage in terms of areas that you can serve. Many real estate sales professionals focus on key neighbourhoods that they have experience working in and that they know a lot about. Neighbourhood demographics tools enable you to be the expert in more areas than just the ones you know personally because now you can quickly access the information your client is interested in. This means, when a client wants to sell their home but buy in another area, you can feel confident serving them.

For more information about how you can access neighbourhood demographics information please visit the NEW GeoWarehouse at www.geowarehouse.ca today.

 

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Happy National Real Estate Day!

Author: GeoWarehouse
May 17, 2017

We want to wish homeowners across the nation a very happy National Real Estate Day!

You’ve worked hard to get into your dream home.

So congrats on getting to where you are!

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May 15, 2017

The New GeoWarehouse Store has been redesigned to make it even easier to use! If you have not yet used the GeoWarehouse Store, this is where you can request things like:

  • Parcel Registers* – View the legal owners of a property, registered mortgages, liens and more.
  • Instrument Images – View documents registered on the Parcel Register* for even more information.
  • Surveys – Quickly access property surveys where available.
  • Condo Certificates – Obtain condo certificates online.

Here are some great resources to help you quickly navigate the NEW GeoWarehouse Store:

Not yet a GeoWarehouse customer? Find out more about this amazing tool by visiting www.geowarehouse.ca.

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

 

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May 8, 2017

You’re in a competitive industry; you know it and we know it. You have to stretch every marketing dollar the furthest possible distance and are often likely looking for new and innovative ways to land new clients. Getting your foot in the door can be tricky because you are probably not the first real estate sales professional that has come a-knocking.

Whether you are knocking on doors, promoting ads on social media, or sending out email and snail mail campaigns, what does every seller want to know? The value of their home, making this information the lowest hanging fruit in terms of getting a prospect interested.

The last thing you want to do is have your fish on the line but then be forced to put your rod down and go away to do some research. You want to get the prospect the information they need – the quicker the better. This is where your tools come into play.

Here are some tips for quickly dazzling your prospect and converting them from a lead to becoming your newest client:

Mobile matters. Especially when door-knocking, the more you can do at the door, the more likely you are to land your client. Having a tablet and access to a tool that can enable you to quickly generate this data on the spot will expedite the conversation, hopefully leading to a new listing.

Make the most out of your snail mail. Yes, you can send your client a standard 4×6 inch full colour, glossy printed card with your photo, tagline and value proposition – but isn’t that what everyone does? What about spending a little bit of time researching a property and sharing some information, such as what homes in the area are selling for? A little effort goes a long way and this shows your prospect that you are ahead of the pack.

Make the most of responding to email and ad inquiries. Along the same lines as making the most of snail mail, that the first contact you make after a prospect has reached out to you is critical. Prospects who send you an email or message through an ad campaign are likely accustomed to communicating electronically. If they are in research mode, you are likely not the only real estate sales professional that they have reached out to. While the other person may respond with an email asking for a time to have a phone call or with some basic information, you can shine by leveraging a GeoWarehouse property report to show your client that the time is right to sell and you are the best representative for them!

It is tough out there and we know you’re busy, but the extra steps that you take to show your client that you are the expert will lead to more converted leads and a stronger bottom line in the end.

The tools available through the NEW GeoWarehouse make you the property expert. Take advantage. Find out more by visiting www.geowarehouse.ca or calling 1-416-360-7542.

 

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May 1, 2017

In an era when many lenders do not require a property survey when a mortgage is being organized for a buyer, and title insurance will suffice, surveys are still very relevant and the buyer benefits from having one.

Why would having a full survey be advantageous to the buyer even if they don’t need it to get their mortgage? A survey can reveal potential property-related issues on a deal like fencing that exceeds the property line or a roof from a detached garage that is over-hanging. These are issues that a buyer may want a seller to correct before a closing.

While the above issues, should they come up, may be resolved with title insurance – because they are pre-existing issues – then the next thing you have to consider is the what the buyer’s future plans for their property are. The buyer may have plans to do improvements on their home or property, such as a pool, a deck, an extension, etc. They may not realize that they’ll need a survey in order to complete them so it is always prudent when discussing the necessity for a survey to learn from the buyer what plans they have in mind.

Often, especially with older homes, it may come to light that the seller simply doesn’t have a survey. This could pose a real challenge because a buyer may demand it. If your seller doesn’t have it, it could delay or even derail your closing.

In any scenario, the seller will have to pay for a survey if they don’t have one, for whatever reason. The time it takes to replace the survey and cost will depend on a few factors. Here is what to do if your seller doesn’t have a survey:

Step #1 – Check to see if an existing historical survey is available online in GeoWarehouse. This is the path of least resistance because, if it is available, you can affordably obtain it for your client at the click of a mouse.

Step #2 – If it is not available online through GeoWarehouse, your next step will be to contact a surveyor or surveying company. Prices and timelines will vary by company – but first calling to see if they have a survey on file already can expedite the process and save your client money.

Step #3 – If it is not available online and the surveyor or surveying company does not have a copy of an existing survey, you will need to have one performed. This is the most expensive and time consuming scenario.

We hope that you have found this blog helpful and if you would like more information about how you can obtain a survey online please visit the NEW GeoWarehouse online today at www.geowarehouse.ca.

 

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