Garage Sale for Shelter!

I feel like I’ve barely been posting anything lately but there is one cause that certainly deserves some attention. The Royal LePage Shelter Foundation is Canada’s largest public foundation dedicated exclusively to funding women’s shelters and violence prevention and education programs. I was lucky enough to meet the executive director today, Sandra Diaz, who spoke with the Royal LePage Coast Capital Realty members, as well as representatives from the women’s shelters and transition houses in Victoria and Sooke. She spoke to us about the importance of our local shelters as well as raising awareness and teaching violence prevention.

Last year Shelter raised 1.5 million dollars and made a considerable impact in shelters across Canada. In British Columbia, $91,000.00 was raised and of this amount, $39,000 came from the Royal LePage Coast Capital offices in Victoria. This money went straight back into our community shelters:

Victoria Women’s Transition House
Sooke Transition House
Margaret Laurence House
Cridge Centre for the Family

How does the money get raised? Many Royal LePage agents (including myself) donate a portion of their commission from every transaction they complete. There is also a National Garage sale which is taking place on May 15th!


The National Garage Sale for Shelter is an initiative which started last year across the country. Royal LePage offices from coast to coast went out seeking donation of household items to sell at a community garage sale. All the funds raised went straight back into the local women and children shelters. On a national level, $120,000 was raised last year!

In Victoria, the event will take place on Saturday May 15, 2010 from 9am-3pm at 137-2924 Jacklin Road (AMJ Campbell Van Lines).

If you have any good quality household items you would like to donate, please get in contact with me or your closest Royal LePage office! This year we are teamed up with the moving company AMJ Campbell Van Lines to pick up any large household items.

If you have nothing to donate, no worries! Come down to the sale and get some good deals for a good cause!

Why Real Estate?

I’ve heard this question many times from friends, family, clients, colleagues and strangers: Why did you choose real estate as a career? Good question! The answer is: lots of reasons.

1. It seemed like a great idea.

I was in my last semester of University and I knew I needed some further education to help kick start a career. (Funny how a University education can still leave you working at a bookstore or Starbucks…) It was between finance and real estate. Frankly, the idea of working in a bank made me shudder so real estate is was!

2. I love MLS.

I bought my first property in 2008 and I became obsessed with MLS. I would check it every day and start to dream up scenarios such as “If I had 500,000 to spend, where would I live?” After going through the process of buying real estate, it solidified my desire to follow through with the course.

3. It was a good fit.

My degree is in Economics so I can certainly talk the talk when it comes to markets. My interest is in business and marketing. My mom and dad are both entrepreneurs so it only made sense to eventually be my own boss. My background is in customer service and I truly love helping people

Now that I’m in this business, there are a few reasons why I will stay here

1. I’m in it for the right reasons.

Many people think real estate is glamorous and big money. The honest truth is it’s bloody hard work and not a get-rich-quick scheme. I was lucky enough to have my parents support (emotionally and financially) to get started, but to carry forward, it’s going to take everything I’ve got. The first two years, I am told, are the hardest (financially and emotionally). I say, bring it on! I’d much rather be broke and working my ass off than have money in the bank and be miserable everyday having to drag myself to work. I’m not here to get rich, I’m here because I love the work I do.

2. I learn something new every day.

Every day is different and every day is a challenge. This is the type of environment I thrive in. I can’t handle the mundane. I’ve never held a job longer than a year that didn’t offer me something more. Real estate provides an environment where I’m constantly learning; whether it be through courses, seminars, or just the transactions and people I deal with. The real estate industry is constantly evolving as well; whether it be industry guidelines or new strata property laws. There’s always something to stay on top of and learn about.

3. I love the “warm fuzzies”

Call me “emo”, but I really like the personal side to this industry. Residential real estate lends itself to many situations in a person’s life. There’s downsizers, up-graders, first time buyers, newlyweds, divorces, estate sales, new to town, moving out of town, just had kids, empty nesters. You get the idea... With every situation there is one or a set of people dealing with something very emotional. Happiness, sadness, frustration, stress, nervousness, excitement. As a realtor, I really enjoy being a part of these pivotal moments in people’s lives. In some situations, you inadvertently become a councilor, and that’s okay. I can tell you, there’s nothing more gratifying than helping someone find their dream home, or enabling someone to move on, or help someone start a new chapter in their life. Being there for these moments gives me warm fuzzies, and I wouldn’t trade it for anything!

Think Like a Farmer

I watched the following video by BNN where they interview Aron Cadeau, president, FlatFeeRealty.ca. I found it very interesting and thought provoking. Check it out here

The major point that does not stick with me was the answer to the question: how does Flat Fee Realty makes its money? Or, how does it afford to advertise like the other competing brokerages? The answer: volume.

What's wrong with this picture?

Personally, in the true spirit of Jerry Maguire, I think less clients and more personal attention is important in this business. A Realtor who earns a flat fee may focus their efforts on completing a transaction so they are free to move on to the next customer. As Brian Buffini would put it, they are interested in winning the battle but may lose the war. That is to say, they are interested in closing the deal, but may lose the client in the long run. In a transaction based business, closing deals (and earning a pay cheque) becomes the most important goal.

In relationship based business, or a referral business, the focus is shifted to personal attention and doing the best job possible for your clients. Even if a transaction doesn't complete, a relationship is cultivated. Who doesn't want to recommend a professional who has done an outstanding job for them? The goal is not to get transactions over the short run, but to build relationships and plant seeds for the long run. Think like a farmer.

Cadeau says their average Realtor in his company closes 30 deals per year compared to the average which is around 8. Although it would be nice to close 30 deals in a year, I would rather have fewer high quality experiences with my clients to ensure the continued growth of my business in the long run.

On another note, maybe I'm biased because I'm in the real estate industry, but I find it weird when an organization of professionals advertises themselves as being cheaper than the industry average. Would you go to a Lawyer or a Doctor who advertises themselves as being cheaper than the rest?

CREA VS Competition Bureau

I'm sure you may have heard about a little dispute between the Canadian Real Estate Association and the Competition Bureau and a little website called realtor.ca

I'm still developing my opinions...

Check out what the Competition Bureau has to say here

Here is what CREA has to say:

February 9, 2010
Competition Bureau talking points

• CREA learned today that the Bureau filed a Notice of Application with the Tribunal.

• CREA views the Commissioner’s decision as surprising and disappointing.

• We do not agree with the Bureau’s position that certain CREA rules are anti-competitive, either as a matter of fact or as a matter of law.

• CREA’s rules allow for innovative business models and a broad range of choice for consumers.

• CREA engaged in settlement negotiations with the Competition Bureau in a good faith effort to try to arrive at a consensual resolution. Unfortunately the parties were unable to reach an agreement. This is very disappointing, since CREA has consistently indicated – right from the outset – that it has always been prepared to work with the Competition Bureau to revise its rules and to clarify the way the rules operate.

• CREA Directors have recommended for approval at CREA’s March AGM certain changes to CREA’s Three Pillars and Interpretations, which we believe clarify - through improved language - the Pillars and Interpretations.

• In making these clarifications on a proactive basis, CREA believes that we are fully addressing the Competition Bureau’s concerns, while ensuring the accuracy and quality of MLS® information that Canadians have come to trust and REALTOR® compliance with a code of ethics.

• The Commissioner states that CREA’s rules restrict consumer choice and prevent innovative business models. That is simply false. CREA is disappointed that the Bureau would make this statement in view of the months of discussions about CREA's rules and CREA's consistent position that its rules are not intended to and do not restrict any business models.

• The real estate industry in Canada is highly competitive. CREA currently has more than 98,000 members operating independently across the country who are competing for business and offering a wide array of services and pricing structures. All any consumer has to do is ask around to quickly confirm the range of price options and services offered by REALTORS®.

• CREA does not tell REALTORS® how to run their businesses or what fees or commissions to charge. Members of the public choose with whom they want to work and negotiate the terms (services and fees) of the relationship with their REALTOR®.

• CREA’s interest and that of its members is to ensure consumers have choice, that they are protected during one of the most significant transactions they will undertake, and that the integrity of the MLS® system is preserved for the benefit of REALTORS® and the Canadian public.

Soul Food

January 27th: "Over time, repeating encouraging words will help change your way of thinking about yourself, and your body will pay you in kind by hooking onto the silver lining you are projecting into the universe. Not only that, but your mind will also start to believe all the loving, kind, and gentle words you are feeding it. So embrace yourself, keep you chin up high, and remind yourself who's in charge here - you are gonna make it after all." - Esther Blum (author of Eat, Drink, and Be Gorgeous)

Gearing up for Real Estate Season

In the past couple weeks I’ve noticed a real change in the real estate energy in Victoria. People are buzzing about the approaching “real estate season” with the promise of many more listings this spring.

As of today, we have 2715 listings on the Victoria MLS system. At the end of January 2009 there were 3678 listings! So unless 963 new listings appear on the market in the next 6 days, we’re certainly low on inventory. What does this mean for buyers and sellers?

Right now we’re experiencing an interesting market. During 2009 consumers were quite nervous about moving because of the uncertain times ahead. At the same time, buyers were gearing up to purchase properties because interest rates are the lowest they’ve been in a very long time. So we’re left with a low inventory and a pent up demand of buyers. (Reminds me of a lesson from my first year micro economics class!) Low supply + high demand = increase in prices. We’re seeing an upward pressure on home prices (great for selling).

Buyers, on the other hand, are competing for the few listings which are available. Come spring, there will be many more choices and we should return to a balanced market. Interest rates are expected to stay low until the 4th quarter, so the cost of getting a mortgage will remain low.

The point I’m trying to make is, why wait until the spring to list your home? If you list, for example, in February and your home is priced right, you’re guaranteed to sell it. If you’re nervous about not finding the right type of property to move in to, you can set the completion date for April to give yourself lots of time to find the right place. Make sense?

Ahem, insert shameless self promotion

If you would like to know how much your home is worth, I do free market evaluations! Give me a call (250-384-7663) or send me an e-mail!

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Notice how low the amount of listing are in the above graph!



In this graph the grey bars represent the listings while the blue squares represent the sales. In December, the amount of new listings almost equals the amount of sales! To date, this January there are 925 new listings and only 267 sales.

Zero to Warp

And the roller coaster continues!

It's so funny how this career is shaping up. The week started out rather slow and Monday marked one of those days when I questioned whether this career was the right move for me. It was a pretty drastic thought considering it stemmed solely from boredom.

Now it's Thursday and I feel like my life is in warp speed again (YES!). I've got CMAs to do, buyer presentations to... present, and on top of all of this, I've been chosen to blog for the Time's Colonist 10K (see here)! SO EXCITING! I had my picture taken at the Times Colonist this morning and there will be a print story sometime next week. So, not only will I be held accountable for my training (great motivation), I also get to meet new people!

Favourite things in life: people (check), houses (check), running (check), being outside (check!) Looks like my life is heading in the right direction :)

2010 is going to be an incredible year, I can feel it. I'm going to take Monday's feelings with a grain of salt and try to remember there will always be little bumps in the road.

Time to buckle up... and... engage