Passion and Process

Jeff Neumann

Success is a nebulous term. By societal measure success is often equated with financial achievement. If making money is your primary objective, setting out to achieve that result can be an exercise in futility. Conversely, examples abound of passionate people, even in the most obscure arenas, reaching the pinnacle of both their profession and their bank account. Passion and process it would seem, is the egg that comes before the chicken. This is not to suggest financial achievement ought to be a goal at all, for as we are often reminded, money cannot buy happiness. (I’m unconvinced poverty can either.)


By his own estimation, Bruce Springsteen doesn’t have much of a voice. So how is it that a fella whose crooning can be mistaken for the sound your cat makes when you step on his tail can manage to sell 64 million albums? Better voices are kicked off of America’s Got Talent every week. How is it that he can fill stadiums at will? Two things come to mind. Firstly, it is not his voice that people pay to hear, it is the passion he pours into his product – and passion is contagious. Secondly, most of us, if placed in his shoes, would have quit. Even the most obviously gifted are rejected on a regular basis. Between when he first picked up a guitar at 16, to becoming an overnight success at 26, how many times you figure Springsteen was told ‘you can’t’ -‘you aren’t good enough’ -‘no’ ? Whether you are a fan or not, (I happen to be) we can agree that his is a remarkable example of diligently and relentlessly crafting your product. Put another way, he worked on his process. Eventually, the results followed. He is also the embodiment of the John Wooden plea, ‘do not let what you cannot do, interfere with what you can do.’ He recognized his weakness -singing -, and overcame it with song writing, band leading, and energy.


I would argue that the most successful people have a process, and stick to it longer than their competitors.

In my profession, as I would guess in most, individuals often prosper despite being seemingly ill equipped for the task. Conversely, countless languish despite being blessed with the attributes most of us would have thought would serve them well. What is the defining quality? I would argue that the most successful people have a process, and stick to it longer than their competitors. Those who do so with conviction and energy seem to reach a little higher.


Thanks for reading,

Jeff Neumann


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By Jeff Neumann 25 Aug, 2023
My high school days are almost 35 years behind me, so my recollection of the curriculum may be less perfect. I recall loving geography, struggling with French, and everything else falling somewhere in between. Curiously, two subjects I do not recall being addressed are the two I would argue to have the largest impact on a majority of students’ futures – personal finance and sales. The former is obvious. If we are not taught the value of money, the difference between good and bad debt, and both the magic and terror of compounding interest, in a controlled environment, we are left to inherit the habits of those closest to us. If my parents bought their vacations on credit, I am more likely to do the same. The second is perhaps less obvious. The word ‘sales’ conjures up stereotypes. Mention the word and many will think of cars, insurance, or real estate, not considering that the word may also apply to them. However, everyone is selling something at one time or another. We all understand that when we go to a car dealership to look at cars, the person approaching us in the parking lot is a salesperson. Before she got to the point where she was helping you select a ride, did she not have to convince her prospective employer that she would be a good hire? If she came to the position with a proven track record, did her employer not have to convince her to choose to work at his dealership? Isn’t a lawyer selling her interpretation of the law to the judge or jury? Isn't a city planner trying to sell his vision of a development to city council? Isn’t a politician selling her vision of the future to the electorate? If you are married, was there not some form of sales going on at some point in that relationship? (And no, being married more than once is not necessarily an indicator of superior sales skills, rather perhaps a sign of poor post-sale attention.) The reality is, at some point in our lives, we are all salespeople. Why then, would we not invest some effort into understanding the psychology behind sales? Why do we or don’t we buy what someone is selling? What qualities should I present to maximize the likelihood of making a sale? The educational system is largely silent on the matter and the void has been filled by authors – ironically, selling books on selling. I’ve always wondered why so little educational attention is paid to a career that affects so many, but from a societal point of view, perhaps this is a good thing. A career in sales may suffer from a lack of formal specification (until we are hired) but it also allows no excuses. Should I choose a career in sales? No one will have a head start because they went to a better school. I will neither suffer from nor enjoy the benefits of seniority – I will reap what I sew. The tools available to me are also available to my competitors. Just when I begin to think that my circumstances are an inhibitor to my success, someone in a demonstrably disadvantaged position will surpass me leaving me looking for another excuse. The sooner I realize I don’t have one, the better off I will be. Thanks for reading, Jeff Neumann
25 Aug, 2023
Both of these sayings, amongst others, are common in the real estate world. We believe that the best time to buy or sell is simply determined by what works best for you. Your goals, your family, your work, your financial standing, and any other unique circumstances must be considered at the forefront of your decision making process. However, cyclical patterns are also common in real estate, and certain times of the year are accompanied by different factors that must be considered if you’re looking to make your move. Particularly, the Fall market is a time where numerous homeowners contemplate whether to put their houses on the market now, or await the Spring season, which is the traditionally popular choice. But, although the Summer is approaching its end, the Fall season can actually be a fantastic time to sell your home. If you decide that you want to sell this Fall, it’s important to note what it takes to get it done, and some of the pros and cons. Less Competition In the busy Spring market, it can be difficult to make your property stand out from the crowd. The Fall is typically a bit quieter when it comes to inventory levels, so there is a great opportunity to showcase your home amongst less competition. More Serious Buyers As the holiday season approaches, prospective buyers who intend to relocate during the autumn months will likely exhibit greater determination compared to those who might have been casually browsing in the Spring and Summer. Buyers will aim to conclude their home search by November, allowing them to enjoy their festivities without the added pressure of house hunting. Individuals who were merely window-shopping during the Spring and Summer months are also likely to have refined their preferences. After viewing various condos or houses, they will have a more clear idea of their requirements. They'll be prepared to take action if your property aligns with what they’re looking for. Fall Curb Appeal Curb appeal can be a critical factor in attracting buyers to your home. Gorgeous Fall colours and decor provide an excellent opportunity to capture attention using visual appeal, and creating a cozy, homey atmosphere for buyers to fall in love with. Utilize this time to your advantage by maintaining a pristine and well-manicured lawn, trimming shrubs, and incorporating autumnal touches like Fall flowers for a fresh and inviting look. The crisp Fall climate offers an ideal window for completing DIY projects, refreshing window coverings and garage doors with new paint, refinishing decks, and reconditioning driveways. Elevate the appearance of your front entrance by applying a new coat of paint to the door, upgrading outdated locks and handles, replacing worn-out fixtures, and enhancing illumination on the front porch and yard. Cleaning and Maintenance Tips Home maintenance is a year-round responsibility of being a homeowner, but there are a few season-specific tasks that should be completed prior to listing your home, if selling in the Fall. Since your furnace is not run very often through the Summer months, and is run often during the Winter months, the Fall is a perfect chance to have your HVAC system inspected and cleaned. Heating and cooling professionals recommend that you have your HVAC checked once per year. Furnace issues are a common find during home inspections, and often times a buyer will request to have the furnace inspected and cleaned prior to closing. Being one step ahead of the game and doing so preventatively, can help with a quicker, smoother closing. Preparing the Home for Showings Normal preparation tasks such as decluttering are crucial no matter the time of year, but similarly to curb appeal, the Fall provides a great chance to make your home inviting and comfortable for viewers. A major key to a good showing is making sure your home smells appealing. Consider doing some baking or using some lightly scented seasonal candles. Since you’re selling in the Fall, the smell of fresh apple or pumpkin pie is sure to warm the hearts of your prospective buyers and create a cozy atmosphere. Another tip to prepare your home for showings in the Fall, is to make sure all the lights are on in your home. Since it gets darker earlier in the Fall, it’s more likely your home will be shown when it is dark outside. Having all of the lights on for showings will help make your home appear bigger. Without doing this, your property may appear dark, small, and uninviting. In summary, the Fall season presents many opportunities for a positive selling experience. Be sure to consult one of our talented agents for more tips on the Fall market, and to get your journey started.
By Jeff Neumann 25 Aug, 2023
In her graphic design program, my youngest daughter was taught early and reminded often not to work for free. What may at first blush seem like an opportunity to impress a potential employer, is more often a dead end after the free sample has been provided. It is a train of thought common in many professions, mine included, and is often accompanied by catch phrases such as: “ If you don’t value your work, why should someone else?” True enough. But just like all good rules, they are on occasion best broken. A friend of mine who operates a large company with hundreds of employees recounted his experience in having hired two high level managers for different departments. His hires were, and remain, on opposite ends of the philosophical spectrum when it comes to negotiating your role with your employer. To wit. John and Mary, (not their real names) had equally impressive educational and professional backgrounds. They both knew their subject matter well, interviewed well, and both appeared to be perfect fits for the needs of the company. John and Mary were both offered employment contracts. This is where their similarities ended. John was a ‘ cross your t’s and dot your i’s’ type, and so his contract was meticulously crafted before eventually being signed by both parties. A good rule of thumb, in business as in life, is to avoid getting into anything you don’t know how you are going to get out of. John's method passed this test, and it would surely be the favoured approach if you sought the opinion of an employment lawyer. Mary, on the other hand, took a different approach. “ Why don’t you pay me a nominal salary for a year, and let's see what I can do for you. If it works out, we can talk about compensation then”. My daughter’s professors would be aghast. Twelve months after their respective hiring, John had moved on, unable to deliver on the high expectations he himself had set. Mary on the other hand had become indispensable, and eventually entered into an employment contract far in excess of anything she could have negotiated at the onset of her tenure. Mary had bet on herself, and she won. Her employer however, also won. Unlike professional sports, the business world has no salary cap. If an employee can deliver exceptional results, the employer can deliver exceptional remuneration. If he or she doesn’t, someone else will. I wouldn’t go so far as to offer this as professional advice. Not everyone can be a Mary, and in fact, most of us aren’t. But if you are going to be excellent at something, betting on yourself is not a bad way to go. Thanks for reading, Jeff Neumann
By Jeff Neumann 25 Aug, 2023
Six years ago, my wife and I traveled with our kids to Italy, and as part of a broader vacation, spent a week in an apartment in Positano. By North American comfort standards, the home was austere. What it lacked creature comforts – tiny shower, lumpy beds, basic kitchen, it made up for with intangibles – fresh figs in the backyard, and a view of the Mediterranean in the front. It was, and remains, our favourite destination of all time, though we have yet to return. Giovanni the landlord was a gem. The apartment we rented, served as his family home in the winter. In the summer, he moves up the hill a kilometre to operate a small inn and restaurant with his siblings. Aside from the beauty and peacefulness of the surroundings, one thing will forever stick with me about the experience: the home has been in Giovanni's family since it was built……600 years ago. Aside from the obvious constraints that rate of home turnover would put on my profession, there are larger takeaways from the experience. Years ago family friends from Switzerland paid us a visit on summer vacation. As we were showing them around the house and trying to help them feel at home, I noticed the Swiss dad gently swinging a door – a standard series 800 door that college kids like to put their fists through at parties. He finished with a light tap, then looked at me: is this hollow? He wasn't meaning to insult me personally necessarily, but his genuine amazement spoke volumes. Yes it is. That is how we do it in Canada came my honest but insufficient answer. I had been to his home. It was clearly built to withstand world war 3. Mine on the other hand, made me nervous on a stormy night. His home will look the same in a century. I on the other hand am interviewing roofers at the ten year mark. Before I give in to the obvious low hanging fruit on the blame tree – the builder- perhaps some personal reflection on my habits as a consumer would be fair. Generally, when presented with the choice between bigger and nicer today, or quality that will last forever, immediate gratification wins the day. Simply put, we as consumers have a tendency to choose style over substance. Giovanni would be aghast. Societal (and hopefully my personal) carbon footprint awareness has grown in recent years, but I think we – (and definitely me) – still have a long way to go. We often convince ourselves that we cannot afford quality that will last forever. What we don't always consider is the true cost of poor quality. Thanks for reading, Jeff Neumann
23 Aug, 2023
Home renovations are going to cost money—there’s really no way around it. Whether you’re changing out the kitchen backsplash or completely gutting your bathroom, things can add up when it comes to materials, time, and services. But that doesn’t mean you need to spend to the max and get yourself into financial trouble. We spoke with Laurie Cole, owner, builder, and principal at New View Designs By Laurie Cole Inc. in Fredericton, New Brunswick; and Erin Rochon, owner of Erin Rochon Designs in Ottawa, Ontario, to get their expert tips on how you can save money when doing your home renovations. Be realistic and honest with yourself It would be lovely if there were no limits to any of our renovations. Vault those ceilings, go with hardwood floors, gut that kitchen and turn it into something envied by the pros! But being realistic with what your family needs can help save money in the long run, says Cole. “Decide what’s realistic for your family. You may want hardwood, but if you have kids or pets, having hardwood may not stand up to the wear and tear of a busy family life. A good quality laminate or vinyl plank floor are great options and can not only save you thousands of dollars, but last longer.” This realism also applies to your budget. Cole says unrealistic expectations of labour and material costs is a common reason people go over budget during home renovations. Consider options that might be one step below your desired quality level and see if they’ll work with your plans. “Even though you may want quartz countertops and expensive backsplashes, your budget may not allow for it so explore other options such as laminate or concrete or other man made products,” she suggests. “You don’t need all high end materials to pull off a luxurious or high end look.” Identify your priorities Some areas of the renovation may be more important to you than others, which is why it’s important to decide what exactly you want to accomplish with your renos and where you’re willing to spend more. Cole says it’s best to “decide what items you absolutely cannot live without, then select other less expensive items to work with them.” She also recommends looking at your long-term plans for the home and how your renovations may play into them. “Think about what you want to achieve with the renovation. Do you want a new look? Is your lifestyle or family life changing? Or perhaps you’re getting ready to sell. All of these things will play a part in what type of renovation you want and the budget you will need. Do some research and decide which upgrades will best suit your home.” It’s a good idea to speak with a REALTOR® from your area to get a sense of what renovations may be more desirable to buyers. Jennifer Queen , a real estate agent and REALTOR® with The Queen Team in Winnipeg, Manitoba, previously told us there’s a ceiling price for every neighbourhood. “We need to be careful not to over-improve and assume a buyer will be willing to pay for stone countertops and luxury appliances when the norm for the neighbourhood is a laminate countertop with mid-range appliances,” she cautions. “Always consult with your REALTOR® before taking on any renovations, as they’ll be able to advise on what buyers are expecting to see when they tour homes in the neighbourhood, and what renovations are worthwhile.” For design and décor, Rochon says “take time to evaluate where you can save and where to splurge.” “Splurge on fundamentals like sofas and accent chairs, and save on items like dressers, textiles, or side tables. Make sure to shop sales to find great deals!” Plan ahead and keep things simple You may have a loose vision of what you’d like to achieve with your renovations, but without a solid, easy-to-follow plan, you run the risk of going over budget and creating an uncoordinated space. Create a plan and stick to it, Cole stresses. Oh, and don’t change your mind midway through—she says this is one of the most common reasons people go over budget . “Having a solid plan before beginning your project is crucial in getting what you want out of the project,” Cole stresses. “You can do one room at a time, but having an overall plan in place will allow there to be consistency throughout the home. And keep it simple! An overcomplicated design can end up looking too busy and cost you more than you planned.” Planning ahead also means getting in touch with a contractor well before you want to start your renovations. The more time you give the professionals to figure out your vision, the better. “Many people reach out right before they want to start their project,” Cole continues. “This is unrealistic because 1) it takes time to come up with the right plan and 2) many contractors are booked months in advance and not able to do the work. The more time a contractor has to plan and the more flexible your schedule is, the more likely you will get the contractor you want.” Rochon agrees that a lack of planning can cause you to go over budget. She emphasizes the importance of having a clear vision before getting started when it comes to designing your space. “Create a realistic budget with a small allowance to cover any unexpected issues. Lastly, create a mood board to give a visual and help you stay focused on the goal for your space.” Confirm all your materials and appliances ahead of time Your plan and vision may include specific materials or features, but if they’re not available when you go to do your renovations, you could end up having to make an expensive pivot. “Ensure the materials you’re using are readily available before you start,” Cole says. “You should always get extra material in case you miscalculate or materials get damaged.” It’s a similar sentiment when it comes to appliances or other features being added. Follow the old adage of, “measure twice, cut once.” “If you’re buying new appliances make sure you know the sizes before you begin,” Cole says. “There’s nothing worse than getting to the finish line and then realizing your appliances won’t fit.” DIY is possible, but make sure you’re really prepared to do it Depending on the work that needs to be done, taking the do-it-yourself route could be a way for you to save money—but only if you know what you’re doing. Now is not the time to try it for the first time, at least not if you want to cut down on costs. “If you’re a DIY’er, make sure you have the time to devote to it and are practiced at the skills you need to complete the project so there are no do-overs,” Cole says, noting this is another scenario where you need to be honest with yourself. “Are you handy, do you have the necessary skills, time and patience to do it yourself? Although you may think you’re saving money by doing it yourself, really consider the sacrifice of time you are willing to make and if you’re skilled enough to do the reno the way you envisioned it. If the answer is yes then go for it. If not, hire a professional.” Even if you’d like to execute the work yourself, she suggests hiring a designer to work with you during the initial planning stages. “These people are trained and skilled in making the most out of your space and able to help you achieve the vision you have for your project. This important step will save you money in the long run.” Wondering if you should DIY your kitchen renovation? We got some tips from the pros on how you can decide whether it’s doable . Going the DIY route is a bit easier when it comes to the design and décor elements of your project. In fact, Rochon suggests a great way to save money is checking out your local thrift stores and working with what you already have. “A fabulous way to save money is to consider thrifting and DIY-ing furniture or home décor to style your space,” she says. “Thrifting is a great way to find unique and inexpensive home décor. Think of DIY-ing furniture that may not work with your new design rather than buying new. A new coat of paint can easily transform an outdated piece of furniture.” If you’re opting for the DIY route, make sure you avoid these six common DIY mistakes. Consider hiring professionals to help save money Cole and Rochon agree that hiring a reputable professional is the one area you should not skimp on when it comes to completing your home renovations. Though it’s an upfront cost, it can save you massive headaches down the line. “With the current construction boom, some people are deciding to go their own way, but they may not have the expertise or experience required to complete a renovation project properly,” Cole explains. “It’s always good to check out who you are considering for the project by looking at their previous work, ensuring they have insurance, training, and experience.” It’s important to make sure you and your contractor are on the same page. Check out our REALTOR.ca Living Room article on 10 important questions to ask a potential contractor . From a design perspective, Rochon suggests hiring an interior decorator to make sure your plans are doable, saying “they’ll help you plan, provide guidance, and can save you from making costly mistakes!” Ultimately, the way to save during home renovations comes down to a few important points: plan, budget, and commit to doing it right. Though you may think there are ways to cut corners right now, these things could come back to bite you in the future. Speak with the right professional to get an idea of what will go into the project, and set realistic expectations for the entire process. After all, the whole point of renovating your home is to leave it better than it was before! Source: By How You Can Save Money When Renovating - Tips From the Pros - REALTOR.ca
23 Aug, 2023
If you’re anything like me, you have a plan to live on campus for one year, and then transition to off campus housing. It’s important to know that the process of looking for housing is different for each student. There are some students who are lucky enough to be invited to live with someone who’s done all the heavy lifting in finding the perfect student home. Or you might be the student doing the heavy lifting – searching for, finding, and sealing the deal on the perfect student home. When I first moved off campus, I was so ignorant about what factors I should be mindful of when finding a suitable house for myself in Canada. Since starting at U of G I’ve now lived on campus and in two different homes, and with each move came many lessons. I’ll start off by giving you a brief overview of my experience with off campus housing. During my first year I lived in Maritime Hall, located in South Residence. In my first house, I was one of the lucky students who didn’t have to take on any house hunting stress. My friend invited me to view the house and this was the only ‘work’ I really had in this process. After that, I signed the lease and paid my rent deposit. The second time around, my eyes were opened to just how much work can be necessary for finding a suitable home as a student. I searched for nearly five months, texted dozens of landlords and went to countless house viewings. However, I learned a few tips that may be helpful to you as you search for the perfect student home in Guelph. 1. Start searching for off campus student housing early Most off-campus housing in Guelph has a lease starting either September 1st or May 1st and is available for 8 or 12 months depending on the lease agreement. It is recommended that you start looking a few months in advance of your preferred move in date. For my second home, my lease started in May and I began my search in November. The end of February is when I actually found my home and signed the lease. It is important that you start searching early to give yourself ample time to find housing in different areas and with different price points. This helps you learn what things are a deal breaker for you and what things you are willing to compromise on. Sorting out roommates can also take some time and patience to navigate. 2. Where to look for off campus student housing Popular places to look for housing are Places4Students, The Cannon, Facebook groups, Rent Panda, Kijiji and housing fairs (usually hosted early in the winter semester in the UC Courtyard). Places4Students and U of G actually have a formal partnership, and they even help fund supports for off-campus students. The Cannon is an online community for U of G students, and is a convenient location for finding used textbooks, rideshares and even housing! You’re able to filter the search results based on the number of bedrooms available, price, the type of listing and more. Certain pages on Facebook are also good hot spots for finding student housing. Try checking the Facebook group of your graduating year or housing specific pages. For example, I looked a lot in the group called “University of Guelph Class of 2021” and “Guelph Housing”. 3. Set search parameters for your new home How much are you willing to spend monthly? Do you want utilities to be included in the rent? Do you want to be in an apartment building or shared house? If you plan on living with friends, how many bedrooms are you looking for? If you don’t own a car, how far away are you willing to live from campus or to a bus stop on a direct route to campus? You will need to consider these things (and more) so you can have an understanding of the type of home you need to search for. 4. Know where you are willing to compromise in your search for housing Based on the search parameters you determine, you also need to decide on the areas you are willing to settle on. Sometimes it may just not be possible to find everything you’re looking for in one location. Overtime, as you visit different locations, speak to different landlords and future house mates. You’ll get a better sense of the factors that truly matter to you! 5. Be patient and consistent when searching for housing Patience is an important virtue when it comes to house hunting. There can be a lot of uncertainty and anxiety felt by students who feel they’ve wasted countless evenings and weekends looking online, contacting landlords and viewing homes. I know the feeling of weariness and annoyance that can creep up when things don’t work out with a house you love! I’ve had to walk back to the drawing board many times. I really had to push myself to stay consistent with my search despite my negative feelings! I know there are some students who can have a lease signed within a month of searching, but if that does not happen for you, remember that it isn’t a reflection of your efforts! 6. Ask questions about every potential home It’s important come to a viewing with a few questions prepared for the landlord or the student showing you around the home. You may want to ask a landlord: How do you handle repairs around the home? What is the amount of the rent deposit? If a student currently living there is showing you around the home, you may want to ask questions like: Have you had any negative experiences with the landlord? Is there a cleaning schedule you guys follow? Does anyone living here own an animal? Are all the appliances functional? 7. Learn your rights as a lessee from campus resources It can sometimes be difficult to wrap your head around what is and isn’t acceptable or fair to you as a student lessee. We tend to view ourselves as being ‘lesser than’ when compared to the home/apartment owners we are sending our money to, but that creates the potential for us to be taken advantage of to some extent. The department of neighbourhood relations and off-campus living at U of G is a key resource to contact if you need support. This department is the primary resource on campus for off-campus students. They do lease reviews and tenant advising for students, as well as run informational events on tenant rights. You can contact them via email: ocl@uoguelph.ca . You can also take a look at the Know Your Rights webpage put together by the CSA to help students become knowledgeable about common misconceptions when dealing with Tenancy. At the end, there is also contact information if you have specific questions or want more information! 8. Secure reliable transportation for move-in day When you’ve found your perfect student home and finalized your move-in date it is very important to decide how you will be moving your stuff out of residence or your current home. As an international student, I had no family there to help me with packing or moving. Especially coming straight out of residence, I didn’t have a ton of money or experience with asking people for help. I remember taking three Uber trips from Maritime to my new home, stuffing the car with my boxes of things each time. Looking back this probably wasn’t the best way to approach moving, but it got the job done and it was all I needed. The second time around I was more comfortable with researching movers and reaching out to people to ask their availability in helping me with the move. Thinking about people you can ask to help you with moving should definitely be a priority consideration! Source: By E'layna Baker, Tips for Finding off Campus Housing in Guelph - uoguelph.ca
23 Aug, 2023
Going alone to find a property to rent can feel just as daunting as buying a home without professionals to help. According to the Canada Mortgage and Housing Corporation (CMHC), properties for lease are currently in high demand, making the rental market increasingly competitive. From their expertise of the market to overall negotiation skills, having a REALTOR® in your corner can make all the difference when it comes to loving your next home. We spoke with Stephan Gauthier , a REALTOR® with Ottawa Property Shop Realty Inc., to get his insights into the advantages of using a REALTOR® to rent a residential property. “Renters working with a REALTOR® are entitled to professional guidance, expert advice, and assistance throughout the rental process,” explains Gauthier. “They’ll also benefit from having a property expert by their side throughout the process. There’s no cost to have a REALTOR® on your side [as a renter] but the benefits are substantial.” Expert knowledge and guidance Did you know renters are given the same benefits and protections as buyers and sellers when they work with a REALTOR®? “REALTORS® have knowledge about the local rental market, including fair rental prices, neighbourhood trends, and available listings,” says Gauthier. “They can also help you find the right property more efficiently by narrowing down options based on your preferences and budget.” Not all REALTORS® take on rental clients, but many do, so this will be one of the first questions you’ll ask when interviewing REALTORS®. Working with renters helps a REALTOR® build their client base, generate referral business, and build long-term relationships with clients who may eventually become home buyers. According to Gauthier, some REALTORS® even work exclusively with renters. Often referred to as rental agents, these professionals help renters find and secure properties that fit their needs and budget. Access to more listings Typically renters who don’t work with a REALTOR® use a variety of channels to access listings, including websites, social media pages and groups, and classified ads. While many people find success navigating these platforms on their own, they may be overwhelmed with the options. When a REALTOR® is involved, they curate listings that fit most, if not all, of the renter’s criteria, giving them an upper hand in finding a property. This is especially helpful in places where the rental market is saturated. “When you work with a REALTOR®, they set you up to receive emails the instant a potential listing that meets your needs becomes available,” Gauthier explains. “Some listings may not be publicly available yet, but a REALTOR® may have access to pre-market properties.” Outstanding negotiation skills Believe it or not, you can actually negotiate the advertised rental or lease price just like you would when purchasing a home. This may be harder to accomplish if you’re doing it on your own, but REALTORS® are skilled negotiators. They take into account several factors, including your budget, the property’s size, condition and history, the current market, neighbourhood, and amenities to ensure the landlord gives the renter the best possible price. If the property has any issues such as mould, pests , or other maintenance problems, the REALTOR® would be able to negotiate repairs or solutions. Gauthier adds the negotiation isn’t always just about lowering the price. “They can also discuss the condition of the property and request repairs or improvements before signing the rental agreement,” he explains. “The REALTOR® would help with these negotiations and also ensure they’re put in writing to avoid any confusion or disappointment.” Peace of mind Rental applications and agreements contain a lot of information (usually written in legal jargon) about renter responsibilities, security deposit information, rent and early lease termination terms, conditions around repairs and modifications, and pet allowances. “REALTORS® understand rental agreements and can help you navigate the process and avoid potential issues,” Gauthier says. Even your deposit is protected when you work with a REALTOR®, thanks to their insurance. Given the frequent occurrence of scams and legal complications, it’s important to protect yourself from financial trouble, and ensure your rights as a renter won’t be violated. When you work with a REALTOR® you’re guaranteed legal and contractual support that gives you peace of mind. They “ensure everything is done correctly and in accordance with [your provincial or territorial tenant act],” Gauthier explains. This vetting of the agreement on behalf of the renter can offer protection if the landlord decides to sell the property while the renter is living in it . For example, in Ontario, a landlord “cannot simply evict a tenant because they’re selling their home,” says Gauthier. “If the property has sold and the new owners want to move in, there are specific provisions of the Residential Tenancies Act to consider,” says Gauthier. “There are many factors involved with ending a tenancy and landlords must follow these rules as per the [Ontario] Residential Tenancies Act and they must respect any active lease.” No extra costs “There is no cost to have a REALTOR® on your side but the benefits are substantial,” a fact that, according to Gauthier, may come as a surprise to many people. Renters may shy away from the idea of using a REALTOR® because they don’t want to pay for the service. As a renter, you are not responsible for any fees or premiums. All you have to prepare for are any payments related to the lease agreement, such as deposits. Landlords or property owners are usually the parties responsible for any fee agreements with REALTORS®. Typically, this payment is calculated based on the value of the lease or on a flat fee to avoid any surprises down the line. Using a REALTOR® also saves you the time that would otherwise be spent searching through listings, scheduling viewings, reading complicated documents, and paying higher than normal rent. Source: By The Benefits of Using a REALTOR® When Looking to Rent - REALTOR.ca
22 Aug, 2023
The Canadian Real Estate Association (CREA) has updated its forecast for home sales activity and average home prices via Multiple Listing Service® (MLS®) Systems of Canadian real estate boards and associations for 2023 and 2024. As expected, national home sales came flying out of the gates in April 2023 . Buyers who had been sitting on the fence responded to the twin signals of interest rates looking like they were at a top and property values hitting bottom. With the Bank of Canada unexpectedly ending its pause on rate hikes in June and hiking again in July , a major source of uncertainty has returned to the housing market. That said, even before the resumption of rate hikes, the recent sales rally had already shown signs of losing steam. The biggest month-over-month increase in sales activity was back in April, followed by an increase only half as big in May, then by a small 1.5% gain in June. This was likely because new listings had fallen to a 20-year low, which was reflected in month-over-month price gains in April, May, and June that were only bested by those seen during the earlier days of the COVID-19 pandemic. New listings are now catching up to sales, although this isn’t expected to translate into further big gains in activity as some buyers will likely be moving back to the sidelines, as they did in 2022, to wait for additional signals from the Bank of Canada and the data it bases policy on. Looking further out, there’s also a growing consensus that rates will not just be higher, but likely for longer – into 2024. 
22 Aug, 2023
We’d been forecasting a spring rebound since last year, so I find it interesting that this month in our first forecast since that prediction came true, we had to downgrade the market outlook.  Even before the resumption of Bank of Canada rate hikes, the spring sales rally had displayed signs of losing steam. The biggest month-over-month increase in sales activity was in April, followed by an increase only half as big in May, then by a small 1.5% gain in June. This was likely because new listings had fallen to a 20-year low, and you can’t buy what isn’t for sale. The existing housing market is supplied by owners who list, sell, and move away. It’s no wonder that move-up buyers aren’t inclined to finance an increase in their mortgage debt at the highest rates in a generation! But that means their current home doesn’t go up for sale for someone else to buy – the opposite of what happened in 2021. The lack of listings amidst a burst of demand tightened the market rapidly, which was reflected in month-over-month price gains of about 2% in each of April, May, and June. Those are big gains for a single month, and now we’ve seen three in a row. The only time I’ve seen bigger price gains was at the height of the pandemic. The spring rally has so far played out more on the price side than the sales side. That said, I don’t think it will last because new listings have been rebounding recently. There’s finally more out there to buy just in the last couple of months. That’s the good news. Although expected, the bad news is that at the same time the Bank of Canada has resumed raising interest rates . Less expected was the Bank’s messaging in their final rate decision before the summer break, which included but was not limited to: People are still spending money like crazy. Year-over-year inflation is now expected to remain close to where it is now for an entire year before starting to move back to where the Bank would like it to be. That will take another year, bringing us to mid-2025. Author’s Note: I wonder to what extent this “spending like crazy” has to do with demographics. This is the first time in history we have ever had such a huge cohort of people over age 60 who are increasingly not working, increasingly not saving, increasingly debt free, and generally in their spending years. The Boomers are a big chunk of the population and these days they’re likely a lot less sensitive to the Bank of Canada’s monetary policy than they would have been in the past. Something to keep an eye on moving forward. That second point is known as “pushing out the goalposts,” and this was a big push. So how should we interpret this? I’m wondering if the Bank feels it will cause more problems than it solves by going any higher with rates, so maybe they’ve resigned themselves to the reality that inflation will have to come down slower than they would like. I know policymakers have been wondering how close we are to the straw that breaks the camel’s back for some mortgage holders. Maybe they’ll have no choice but to raise interest rates further. To be determined. This new inflation forecast, should it come to pass, has implications for people renewing mortgages in the next few years because it means we won’t be seeing any rate cuts for a long time. In the near-term, this summer and fall, I would expect the impact on the resale market to be similar to what happened in 2022 – uncertainty around all of this pushing some buyers back to the sidelines. More supply coupled with less demand should calm price growth and lead to a slower more balanced market over the second half of the year. This was the largest factor in our most recent forecast revision. We now have a couple of months (September 6) until the next Bank of Canada rate decision to watch the incoming data for clues about what comes next. Remember that after the April rate announcement, many observers thought we might be seeing rate cuts this year, so a lot has changed, but a lot can still change. Let’s cross our fingers. Source : By Short-lived Housing Market Rally Likely to Lose Steam this Summer - CREA
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