A sure sign of Spring!

Raking your lawn, seeing some Robin's, these are all "signs" of spring....

Here is another SIGN of spring placed on your front lawn!

This Years Award!

Recieved this award this morning. I am happy to know that my hard work, and dedication to my customers has once again been recognized. 2007 was Associate Society, 2008 was Sterling Society, 2009 - shooting for President's Society!
Thank you to all of my past, present and future clients. You will never be disappointed in my service to you.

Jason Steele

Stat Holidays and your offer to purchase

Because your offer to purchase is all about "Title" exchanging hands, one must be able to register the transaction with the Land Registry. Because of that be sure the day that you pick to close your transaction does not fall on a weekend or public statutory holiday! Below is a list of those certain days in 2009 in which a transaction can't be closed.


Holiday 2009
New Year's Day Jan 1
Family Day Feb 16
Good Friday Apr 10
Victoria Day May 18
Canada Day Jul 1
Labour Day Sep 7
Thanksgiving Day Oct 12
Christmas Day Dec 25
Boxing Day Dec 26

Harmonizing Taxes!

Sales tax harmonization will hurt resale home market

(Toronto, March 26, 2009) Ontario’s REALTORS® say the McGuinty government's plan to harmonize the GST and PST will add over $2,000 to the cost of a real estate transaction, hurting the resale home market and prolonging the housing industry’s recovery from the current economic downturn.

“Now is not the time to be erecting barriers to homeownership,” said Pauline Aunger, President of the Ontario Real Estate Association. “We need consumers to invest in housing to help get our economy going again.”

According to the Canadian Real Estate Association, home sales in the province of Ontario were down 29 per cent in February, compared to 2008.
Under a harmonized sales tax (HST), home buyers and sellers will have to pay extra tax on a range of services associated with real estate transactions such as legal fees, moving costs, real estate commissions and home inspection fees. Currently, consumers only pay the 5% Goods and Services Tax (GST) on these services.
“These additional taxes could price some homebuyers, especially first-time homebuyers, right out of the market,” explained Mrs. Aunger. “Harmonizing will not help homebuyers in any way.”

For a resale house priced at $360,000, a HST could add over two thousand dollars in new taxes to closing costs. In total, a HST will add $313 million annually in new taxes to resale home transactions.

“In the last decade, Ontario’s homeowners have faced a barrage of new costs,” said Aunger. “From municipal land transfer taxes to sky rocketing property taxes, homeowners are being pushed to the brink to accommodate increasing demands from government. A harmonized sales tax is yet another cash grab on Ontario’s already overtaxed homeowners.”

The Ontario Real Estate Association represents 47,000 brokers and salespeople who are members of the 42 real estate boards throughout the province. Members of the association may use the “REALTOR®” trademark, which identifies them as real estate professionals who subscribe to a high standard of ethics and service.

OREA serves REALTORS® through a wide variety of professional publications, educational programs, advocacy and other services. A division of the association, the OREA Real Estate College, provides real estate registration education courses in Ontario.

Help with Downpayment!

The information below was borrowed from the Bruce County website to help promote that the end of the program is coming to a close.....hurry before it's too late.

Home Ownership - Realize Your Dream of Owning A Home

This program ends March 31, 2009.
All applications must be approved by March 31, 2009, closing date may be later.
Are you currently renting and dreaming of owning a home, but you don't have the down payment in the bank? The County of Bruce is participating in the Canada-Ontario Affordable Housing Program. (AHP)The Federal and Provincial governments have committed more than $28 million to make homeownership affordable for low and moderate-income households across Ontario. The Homeownership program provides up to 5 percent in down-payment assistance to eligible applicants to assist them in purchasing a home. Applicants must be renting, be at least 18 years old, have a gross household income at or below $64,900 and be eligible for financing from a financial institution. The selling price of the home must be at or below $205,315.

Your First Encounter with a Real Estate Representative

What should your first encounter be like with a Broker or Salesperson?

First thing an agent should be asking you is "are you working with any other agent?"

This should be asked anytime there is contact with a new customer, whether walking into an open house, or into their office. There are a few reasons for this, but the most important reason is ethics. If you have been working with someone else, you should continue to do so, as that agent has invested the time and effort into finding you a property. The exception would be if you are not happy with their service. The other important reason is that if you have a "buyer agency" with one agent, you could owe them a commission on the property you purchase depending on how the agency contract is written.

The next thing an agent should be providing is "Working with a Realtor®". This pamphlet describes how we work for you. Whether a Seller, Buyer, Multiple Representation or customer service, this information is spelled out in this document and should be given at the earliest practical time in the relationship.

And the most important thing when meeting a representative is feeling comfortable with them. Knowing that they are going to work hard for you, and that there is trust between both parties.

What is Buyer Agency? Why Buyer Agency and why do some reps ask for one up front? Who does it protect? Why a Holdover? Are there risks?

1) Buyer Agency is a contract between a Buyer and their Brokerage. This Form is a contract between a Buyer and a real estate company that gives the real estate company permission to act on the Buyer’s behalf in the purchase of a property. Assuming the Buyer is a Client of the real estate company, the Real Estate Council of Ontario (Ontario’s governing body) REBBA Code of Ethics requires that salespeople have a written Buyer Representation Agreement presented for signature prior to an offer being presented on behalf of the Buyer.
2) Representation agreements can be written, oral or implied. However, your broker or salesperson is required by law to reduce the agreement to writing and provide it to you for your signature prior to entering an agreement to purchase. The agreement should be in writing in order to protect the interest of all parties. It establishes agent responsibilities, commission arrangements and provides the foundation for negotiation and offer drafting. This form, which is commonly used in the real estate industry, provides that the broker is entitled to be paid commission if the buyer enters into an agreement to purchase any property, during the running of the agreement. If the seller does not pay the commission(in the case of a for sale by owner), or all of it, the buyer is required to pay it. Many agents ask for this form to be signed before any showings take place to protect their interests which include time invested, and their ethical and fiduciary duty to protect the client. If you have yet to sign this form, you are a customer, not a client. There is a great deal of difference with regards to that.
3) A perfect example: Customer calls agent to view property. The agent sets up the showings and meets the customer at the location to view the income property. The customer decides they want to see further property. The agent then sets up showings for various times, dates, locations. Many days, sometimes weeks, or months go by, showing after showing sometimes having to return because they want a contractor to see it, or a spouse wasn't available. The agent even introduces them to a series of different builders as he wants to further provide all suitable properties to their customer, hoping they will become a client. A hard working reputable agent will not only show property, but fact find, including visits to the municipality, registry office etc., to get all pertinent information on the subject properties. It’s called due diligence. This represents many days and days of work which costs time and money. Then one day, the agent that has done all of the work finds out that his customer has decided to work with with someone else because they didn’t realize how things work in this industry. The other agent didn’t ask if they were currently working with another agent.
4) This form protects both parties. The Brokerage(sales rep) and the client. When entering Agency, A buyer’s agent promotes your interests and represents you throughout the home-buying process, beginning with the search for the perfect home until you have the keys in your hand. A buyer’s agent can provide you with many important benefits such as knowledge of the local market, negotiating skills and expertise in working with contracts. It sets out what kind of property you are looking for and in what geographical location. A Buyer’s agent has a Fiduciary duty to protect the interests of the Buyer once this form is signed. Remember, we do follow a strict Code of Ethics, and without this form we still have a right to protect you with honesty and fairness.
For many agents in this industry, this is their sole means of income. They do not get paid unless they find you a property, and you put the offer through with them. Without implied or written Agency, the representative that did all of the work on your behalf has no claim to the commission that is to be paid.
5) A Holdover clause specifically addresses what happens when the contract comes to an end. Some agents don’t use a Holdover, while others do. The time of holdover is not specific and can range from days to months. What it means is that anytime after the contract expires, and while in the “holdover” period you purchase a home to which you were first introduced by that agent, commissions would be owed to that brokerage. You have to understand that some people do use the agents time to find property then wait to try and save money on the purchase of the home by not having representation at the time of offer. This isn’t fair to any of the parties involved as the process of purchasing and selling is complex.
6) There should not be any risks involved when signing a Buyers Agency Agreement. You can add anything to the pre-printed sections of the agreement, which takes precedence, so if there is something you want to add such as “exclusions on homes you have already seen”, or “commission payments” then have your agent add it, and agree by both parties signing the changes. Buyer Agencies can also be mutually cancelled at any time. Talk to your agent, they understand.

So, rather than getting to a point of risk such as implied agency commission payouts, discuss any issues with your agent, be open and honest and chances are if there is a problem it is just lack of communication. Realtors® are educated professionals and are supposed to follow strict ethical guidlines.