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Archive for September, 2017

September 18, 2017

Without a doubt, a Parcel Register* is many things, but it’s not a title search. It’s part of a title search and is one of the most informative and accurate information snapshots of registrations that exist against a property.

A Parcel Register* is a record containing the property’s description and list of instruments registered against a property within the Land Registration System of Ontario as of the date of the property search. That’s a real-time, up-to date-report. The Parcel Register* includes:

  • A property’s PIN (Property Identification Number)
  • A legal description of the property
  • Who the legal homeowners are, the type of ownership and percentage
  • Easements
  • A history of property transfers, transferees/transferors, dates and amounts
  • A history of registered mortgages
  • A history of registered liens
  • And so much more.

Did you know that the Parcel Register* is the fastest, most accurate way to find out if there is enough equity to pay you? That’s an important factor in every real estate transaction, don’t you think?

Are there other people on title to a property not disclosed to you? Are there challenges with equity or surprise information you and your client may not have known? Obtaining a Parcel Register* can help answer these questions.

Also, if you want to know if there are any registered mortgages against a property, a Parcel Register* can tell you the lender, registration date, amount and value. Want to know if there are any registered liens? With a Parcel Register*, you can find out and get information on the registration date, amounts and the individual or company who registered it.

This is powerful information for a real estate sales professional when trying to get the maximum amount of research available to help make informed real estate transactions. You can use it at any stage in the process – from listing to buying – but when your intuition suggests some more investigation, a Parcel Register* can help you make an informed deal.

When you simply want to confirm something, a full property title search isn’t required. With a Parcel Register*, you can get the right information required without doing a full property title search.

To learn more about how a Parcel Register* can benefit you, or want to find out how to order one, visit www.geowarehouse.ca today.

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

 

 

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September 11, 2017

A good property search is key to a successful real estate transaction. To ensure the smoothest process possible, you need to know details about the property, everything from existing liens to costly potential repairs. You need to have access to mapping and research tools to better know the property and surrounding area. You need demographics, legal descriptions and more.

If you take the time and effort needed to do a thorough property search, you can’t help but succeed.

Knowing some of the rookie mistakes that real estate sales professionals make in researching potential properties will help you avoid them.

Here are four common mistakes new real estate professionals make that could stand between you and a successful real estate career:

  1. Not checking homeowner data against the engagement.
  2. Not checking registered mortgages to ensure that there is enough equity to cover commissions.
  3. Not knowing enough about a particular area and thus having to go away and do extra research.
  4. Not having an efficient mobile office to be able to do as much as possible on the go.

It is helpful to have a checklist of information that you can verify on each and every deal. Begin with your preliminary searches that you perform on each deal, and where something seems off – dig deeper. For example, if you run a preliminary property report that shows three mortgages on title, you may want to go that extra step to check for liens. Make sure that you are well equipped when attending open houses with your clients, or when meeting with them to discuss property value.

This is where the tools you use are critical. For example, you can perform a preliminary search in GeoWarehouse and, if needed, order a secondary search in the store with a Parcel Register*. A Parcel Register* provides deeper insights into registrations on a property including exposing liens. Other tools, such as neighbourhood demographics, give you valuable insight and allow you to answer some of the pressing questions clients may have about a particular area of interest. Being able to accomplish as much of this as possible while at a meeting also helps to present you in a professional light.

Avoid rookie research mistakes with GeoWarehouse. Not a customer yet, or just want to find out more about the many reports available? Visit www.geowarehouse.ca today!

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

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September 5, 2017

Careers in real estate are hard work – ask any real estate professional. The Canadian market is hot and the allure of easy commissions is the dream of every potential real estate professional.

Starting a career in real estate is like trying to ride a bike. It takes a lot of practice to learn how to balance and pedal, but once you do, you’ll be zipping along in no time. To get a new real estate career zipping along, you have to invest not just money, but time and effort too.

The competition is fierce in the housing market. As of March 2014, the Canadian Real Estate Association noted that more than 109,000 real estate professionals were working in Canada – that’s one for every 245 Canadians over the age of 19, and we would not hesitate to wager that that number has grown since. Are there too many? Read more on this here: http://business.financialpost.com/personal-finance/mortgages-real-estate/canada-housing-bubble-agents.

Even with this arguable oversaturation, each year thousands of people turn to a career in real estate. Many start off strong and full of enthusiasm, but many fail to recoup their initial investment in business cards. Why do so many intelligent, professional people get thrown so quickly out of the real estate profession?

The overwhelming majority of real estate professionals who fail do so for one of a few primary reasons:

  1. Ultimately, it’s the wrong job. Real estate is about people, not houses. You have to like working with people and be prepared for all their quirks and ticks.
  2. They don’t have a solid marketing strategy or appropriate budget, or an understanding of where to market.
  3. They align themselves with a brokerage that doesn’t provide them with enough support.
  4. They fail to invest in tools that maximize time savings and efficiency.

The list goes on…

Real estate, like any business, involves having a business plan. Even if you work for a brokerage, you are still self-employed and you need to look at a proper budget that considers the cost of being self-employed. This includes administration, research, marketing and transportation costs – just to name a few.

Let’s look at transportation costs as one example. Instead of needing to be on the road to do leg work, investing in the right tools can significantly reduce time on the road. Without leaving the office, you can research comparables, look at aerial imagery and neighbourhood demographics, sign documents electronically and more with GeoWarehouse. It can also be used to inform your marketing materials and convert leads.

GeoWarehouse is a centralized property information source where you can access the latest and greatest reports and information to help your real estate business grow! For those seeking successful careers in real estate, GeoWarehouse provides you with real value.

Visit www.geowarehouse.ca today to learn how!

 

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