Archive for the 'Real Estate Leads' Category

November 26, 2018

There is one real estate opportunity that seems to only be growing in popularity: selling condos.

The Canadian condo market continues to boom. From 2016 to 2018, more than 14% of private mortgages came from condominiums.

In June 2018, residential construction starts across Canada surged to 248,000 units, driven by condos.

“While there has been some moderation in price growth and less speculative demand in the single-family home segment, prices for condominiums have continued to increase rapidly in some markets,” the Bank of Canada noted in its July 2018 Monetary Policy Report.

Condos have also benefitted from tougher mortgage rules and increased interest rates. As house prices have gone up, condos have remained the more affordable option. This means that not only are younger buyers opting for condos over traditional homes, but so are older buyers. For instance, some members of Generation X are choosing to move into condos for a smaller mortgage.

In 2017, three out of every four homes built were multi-family units, compared to 65% the decade before.

If you sell real estate in Canada, the signs are there that this is the time to consider selling condos, too.

Should you decide to join the condo market, or ramp up your efforts, here are some best practices to keep in mind:

  • Look at property details. Just like you would request a property report for a single-family dwelling, you should do the same for a condo. For instance, with a GeoWarehouse report you can see all condo units in a building, search by level, look up related PINs, access the full legal description, and more.
  • Don’t only consider constructed condos. Look also at pre-construction condos. New condo buildings are being constructed quickly, especially in larger urban areas like Toronto and Vancouver. Sell clients on making a decision early to beat the rush.
  • Condos aren’t just for younger buyers. As we mentioned above, condos used to be the millennials’ residence, but that’s not always the case these days. More and more older generations are choosing condos amid new mortgage rules, increased interest rates, or wanting to stay in an urban area. While millennials are certainly still a big market, they’re not the only market.
  • Look at what else the building offers. There may be additional assets included with a condo sale, like a parking space or storage lockers. Unlike a traditional dwelling type, a condo can come with other perks, too — security guards, an on-site gym, a luxury view, etc. Play up these features in your sales pitch.
  • Focus on unique features. Condos are a space sacrifice, especially if a potential buyer is used to a larger home. But because they are rising in popularity, there are many more options for comfortable condo living today, like urban agriculture, unique storage ideas, and two-in-one furniture items. Don’t be afraid to get creative with your staging.Access condo status certificates online. There is no need to request your condo status certificates by fax anymore. Instead, use a tool like GeoWarehouse to do it all online.

While the condo boom is continuing to thrive, it makes sense to take advantage if it’s in your area. GeoWarehouse can help you stay on top of the latest condo trends and access property information.

Learn more by calling 1-866-237-5937 or visit www.geowarehouse.ca.

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The early bird gets the worm — the same could be said for real estate opportunities. You don’t necessarily need to wake up early (or eat worms!), but if you’re waiting until a property is listed to consider it as a lead, you’re at a disadvantage.

Think about it — once a property is listed for sale, it’s up for grabs and you’ll have to deal with tough competition. But if you’re the one sourcing an opportunity, you can set the terms and get ahead of the crowd.

Some of the best real estate leads and investment opportunities can be found outside of listing sites. You just need to know where to look and how to look for it.

The biggest secret to get ahead is property research and evaluation tools. A good tool should tell you:

  • Who lives in area.
  • The types of properties and owners/tenants.
  • The types of residents — religion, ethnicity, etc.
  • A property’s legal description.
  • What a property is worth.
  • Mortgages owed against the property.
  • And much more.

This enables you to find real estate investment opportunities quickly and act on them before anyone else even knows they exist.

A good property research tool will also let you search with broad parameters — for instance, if you know a property’s address, you could enter it in, but if you just want to search in a particular area, your research tool should provide you that flexibility. It should also be fast, convenience, and above all accurate.

We can only speak to one tool — ours, GeoWarehouse. With a GeoWarehouse property search, all you have to do is select a Land Registry Office, enter in your search criteria, and your requested information will appear.

You can also search by property owner name, property address, street name, and more. With GeoWarehouse, you can also access a Parcel Register* to see the original registration number at the time a property was purchased. You can use this to request an Instrument Image* and obtain complete contact information for the property owner’s lawyer. With these tools, you can also look at registered mortgages and liens to understand the property owner’s financial position.

Another important step that can help you evaluate properties that aren’t yet listed is finding out their value — you want to know whether this is a good investment or sales lead. An automated valuation model (AVM) can tell you this and more. It will give you an estimated range, which you can use to prepare an offer.

Technology can help you stand out from the crowd, but you want to make sure your data source is accurate and up-to-date. GeoWarehouse is powered by information from the Province of Ontario Land Registration System (POLARIS), so you know you’re getting the best data available.

Learn more about how to access these property research tools and find new real estate opportunities. Become a GeoWarehouse subscriber today at www.geowarehouse.ca.

 

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The Canadian commercial real estate market is continuing to boom, according to a new report from CBRE Ltd.

In 2017, Canada’s commercial market set another record for investments — one of only four countries in the world to do so.

According to the report, there were $43.1 billion in commercial investments last year (this was more than 2016, when there were $34.7 billion). CBRE is predicting 2018’s investments will be even higher.

If you’re in the real estate selling or developing business, this is good news, particularly as new Canadian mortgage rules and increasing interest rates affect residential real estate.
CBRE Ltd. found that Vancouver and Toronto had the lowest downtown office vacancies in North America at the beginning of 2018. Toronto had 3.7 per cent and Vancouver had 5 per cent. The report predicts those rates will fall even lower this year as tenant demand increases.
For those located outside of these major cities, there’s good news, too. CBRE says this trend is spreading across the country. Montreal posted more than 1.9 million sq. ft. Of positive net absorption in 2017, which the report says is a record amount of tenant demand. London, Ont., the Waterloo Region, Ottawa, and Halifax could all be seeing increased demand for downtown office vacancy.
There is also more to gain in rental payments. In 2017, national industrial average net asking rents reached an all-time high of $6.97 per sq. ft.

The report also points to another interesting trend — the demand for land. Land sales will continue to set pricing records in a variety of markets across Canada, it says. The combination of record low office vacancy and industrial availability could also spur new construction.

If you’re not already selling commercial real estate, this could be the time to consider starting. What downtown office vacancies exist in your market? Are there any future construction projects in the works? These could turn up new real estate leads.

There could also be opportunity even if you’re not selling in a major market. If you know that downtown office space is tight in Toronto, but you sell in outlying areas of the GTA, consider advertising any vacant office space that exists outside the city limits.

If you are already selling Canadian commercial real estate, or considering expanding your real estate markets, the CBRE report can be a great resource as it dives deep into real estate trends by city. You can access the report here: https://www.cbre.com/research-and-reports.

Another great resource whether you’re selling commercial or residential real estate? GeoWarehouse. Our reports, images, and searches maximize your understanding of a property’s attributes and value and minimize uncertainty in completing land transactions.

Learn more about our technology at www.geowarehouse.ca.

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Creating better alignment with real estate referral sources, such as mortgage brokers and mortgage lenders, is a crucial skill for any real estate sales professional in generating real estate leads.

In a potentially turbulent Canadian housing market, keeping your referral relationships strong can only help with generating real estate leads. Especially if you’re selling in a harder-to-afford neighbourhood, lead generation could be key to making a sale, even more so than before.

But how can you create better alignment with your referral sources, in particular mortgage brokers? Here are our top three tips:

  1. Know what tools your mortgage brokers are using.

If you are using GeoWarehouse, you want to encourage your mortgage brokers to use Purview, which is a similar tool that derives the same data — data supplied by Teranet and powered by POLARIS, the Province of Ontario Land Registration Information System. This ensures you’re looking at the same figures and information, which can cut down on significant back-and-forth time and speed up closings.

  1. Share information.

If you have generated a GeoWarehouse, property report, share it with your mortgage brokers. The information found within could help them, which in turn could help you. They’ll be able to see where you are getting your numbers and be on the same page as you.

  1. Emphasize teamwork.

Make sure your mortgage brokers know you are a resource to them and, when working on a deal, part of their team. Mortgage brokers can take care of financing issues and mortgage logistics, while you focus on the sale of the home. You could even take your teamwork to the next level by partnering on social media property marketing, having your mortgage brokers attend open houses, and other marketing initiatives.

Creating better alignment with your referral sources, such as mortgage brokers, can make a big difference in your business relationship. Working from the same data and tools can make closings that much simpler and more efficient — saving you both time, money, and headaches. It can be a win-win: you’re generating real estate leads and your brokers are gaining mortgage leads.

Teranet provides the data for both GeoWarehouse and Purview for Mortgage Brokers and for Lenders. This means that real estate sales professionals who use GeoWarehouse can improve alignment with mortgage brokers (and subsequently their mortgage lenders) by working with the same data — data that is the most current and accurate. This in turn can lead to not only more closings, but also faster closings.

GeoWarehouse has the most accurate and complete data for real estate sales professionals, while Purview for Mortgage Brokers has tools specific for your mortgage brokers. To learn more about GeoWarehouse, visit www.geowarehouse.ca. For more on Purview, visit www.purviewforbrokers.ca.

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It can be a difficult position to be in — you’ve specialized in a particular housing market for most of your career, and then the market shifts. Now the area you’ve specialized in that was once so lucrative is cooling, or even dried up and finding real estate leads is becoming nearly impossible.

Housing markets across Canada appear to be going through a shift. Changing interest rates, new Canadian mortgage rules, and higher household debt leaving much of the market uncertain. No one is sure what the real estate market future holds, but you may already be feeling an impact in your chosen market, especially when it comes to generating real estate leads.

What can you do? A changing housing market can be a challenge for any real estate sales professional. But as most of us learn the hard way, change is inevitable and there are ways to make the best of any bad situation.

First, if you’re working in a market that appears to be cooling, a simple solution is to consider expanding your reach. Look at demographic marketing. Demographic marketing is very easy once you understand a neighbourhood’s demographics. Marketing to the specific demographic that dominates the targeted community is smart and will enable you to be more impactful. For example, if you specialize in condos, look for areas where condo sales are doing well or where the population may be more likely to opt for condo living. If you specialize in income properties, you can use demographic marketing information to find neighbourhoods where those seeking income properties might be more likely to flock. If you serve a particular community or have another specialty, using the demographic information available to you could also serve you well.

The beauty of tools that provide insights into demographics is that you can glean important neighbourhood information without being personally familiar with the area or neighbourhood. In theory, demographics information should reveal all you need to know. It can tell you the types of families, ages of homeowners, types of residents (for example, renters vs. owners), amenities, and more.

Another way to key into important trends in different markets is using houseprice indexes. This can help you identify where markets might be cooling and where they might heat up. For example, if you specialize in condos and see that Toronto’s condo market is booming, you may want to expand your market to those neighbourhoods with renters and condo space available. Explore the latest Teranet houseprice index data.

A cooling market doesn’t have to be a bad thing. It can be an opportunity to expand your reach and explore new neighbourhoods. GeoWarehouse has the demographic marketing tools to help you decide on your new neighbourhood.

The GeoWarehouse Demographics Report tells you about who lives in the neighbourhood in which the property searched is located. Demographic data enables you to answer ALL of your client’s questions about an area, community and demographics. These include age distribution, marital status of residents, structural types of housing, owned/rented properties, average household income and much more. This can help you discover new real estate leads you may not have considered before.

Not a GeoWarehouse subscriber yet? Learn more about how you can use this powerful resource to easily and efficiently perform demographic searches.

Visit www.geowarehouse.ca.

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December 11, 2017

Generating real estate leads in today’s market can be challenging. With record-breaking prices in Vancouver and Toronto, rising interest rates, changes to mortgage rules, new government real estate regulations, and more inventory than demand in some Canadian markets, it’s an interesting time in real estate, to say the least.

The key to success is in picking the lead generating strategies that are effective in your current market conditions. Tougher market conditions require a different approach when generating real estate leads.

Here are 7 lead generating strategies you can apply to your business:

  1. Call, email, text or message everyone in your database and offer a complimentary market evaluation to identify who may be interested in selling.
  2. Develop a professional alliance network with stagers, mortgage brokers, secondary lenders, home inspectors, credit counselors, bankruptcy trustees, real estate lawyers, builders, contractors and more.
  3. Position yourself as a knowledge expert by creating charts, graphs or other visuals of key market stats clients want to know. Share by email, social media, or as a hand-out at your next client event.
  4. Use social media – from posting hot listings to offering staging advice, there are so many ways you can connect with potential clients through social media.
  5. Ramp up your prospecting efforts and increase your face time with potential buyers and sellers from client events to telephone prospecting, door knocking and open houses.
  6. Join a community or professional association, such as Lions or Toastmasters. The more people in the community who know you work in real estate, the more likely you will get unsolicited referrals.
  7. Get involved in the community. You can do this by sponsoring a children’s soccer or baseball team. Go to the games and participate in their fundraising initiatives. You could also host a community garage sale, or set up a neighbourhood watch program.

If you set aside two to three hours a day to generate new leads, it will help you succeed in the real estate business. Lead generation is all about numbers – the more people you talk to, the more leads you will find. Set a goal for the number of people you are going to talk to everyday and make it non-negotiable. Do not leave work until you have reached your goal.

However, none of your efforts will matter without prompt and effective follow up. Always contact your leads as soon as possible. In most cases, the first person to call back gets the client. With quick and timely follow-up, you could add more leads to your roster.

The ultimate strategy is simple. Ask everyone you meet, and we mean everyone, if they know anyone that may be interested in selling or buying real estate, and if they’d be comfortable referring you to assist them. Even if they don’t, give them your card. Now they know who to refer the next person they meet seeking real estate help to.

With the resources available through GeoWarehouse, you can market yourself as the go-to real estate sales professional of choice, and you’ll be generating real estate leads in no time.

Not already a GeoWarehouse subscriber? Learn more by visiting www.geowarehouse.ca today!

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Generating real estate leads is about turning prospects into clients. There are always new opportunities out there, you just have to know where to look and how to convert a prospect into a client.

What’s the difference between a lead and a prospect? A prospect is a potential lead. They need your service, but they haven’t specifically picked you. While pursuing prospects is a worthy investment of your time, what you really want are leads. That’s when you have the name and contact information for someone who is a potential future client.

The single biggest difference between prospects and leads is their engagement. Prospects need to be identified and cultivated. They are a distinct investment in your time and efforts, and with the right amount of outreach from you demonstrating your talents and abilities, they will likely contact you when the time is right for them.

Leads, on the other hand, are characterized by two-way communication. A lead has already responded to your marketing efforts, and they’ve reached out to provide you with their contact info – either through a call or online form. If you can contact them, then they’re a lead.

Identifying prospects, nurturing leads and converting them into clients is a big part of a real estate professional’s day – generating real estate leads. One of the biggest mistakes made is not regularly following up with their prospects and leads.

Here are five suggestions for bringing in more leads:

  1. Don’t wait for leads to fall into your lap. While you want your marketing to bring in leads, don’t wait for it to happen. Schedule time each day to generate new leads.
  2. Use social media networks to connect to prospects and leads – this way, if you don’t land a lead now, you have established a connection to keep marketing to them.
  3. Reach out to for sale by owner (FSBO) properties to discuss the benefits of hiring a real estate professional. You already know they want to sell, they just haven’t realized you’re the best person to make the sale happen.
  4. Real estate postcards are expensive, but you can set up a digital postcard campaign to save on paper and stamps! It’s an effective way to stay-in-touch with clients and encourage leads. This throwback technique with a digital twist could pay big dividends for your business.
  5. Use your hobbies to tap into more real estate leads. Have fun while you generate leads. Use your common interests to meet potential clients. This could even mean participating in social groups on Facebook.

Miriam-Webster defines a prospect as “something that can develop or become actual.” To turn possibilities into a sure thing, you need to have access to the best and most current real estate information possible.

With GeoWarehouse, you can access a variety of reports and information that will give you the edge when generating real estate leads. Become the expert by subscribing to GeoWarehouse today!

Visit www.geowarehouse.ca to learn more about this valuable real estate tool.

 

 

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