Saturday, June 25, 2016

$75 Credit Card Deposit will get you Listed on

Yes It's True.  Some brokers will post your listing onto for a flat fee of a few hundred or less.
you can with a $75 Credit Card Deposit will get you Listed on

Now you listing will show on the MLS advertising site but typically cannot be found by address search because London or Kingston agents generally do not belong to the Toronto Real Estate Board. [Current membership is 44,000 agents in Toronto that you are excluding]

You handle all the appointments and deal with every agent who calls and enquires about the house.

The public is also calling you; asking questions

You have the right to:
1.0 Mislead
2.0 Obfuscate
3.0 Never disclose pertinent details
4.0 Does the basement Leak?   Never Lies

You will never have a Multiple Offer because you have no obligation to play ethically or by any standard of conduct ( RULES don't apply)

The reality is a real estate agent instill confidence and educates a Buyer to move forward.

We help direct financing, legals and inspections.

Self Sellers want the highest prices.
Guess what
Home Buyers also want the best price they can get.

What's different?

I promote all the houses, all the solds, all the FSBO, all the mere listings.
AND I provide Matterport

Call today

Thursday, June 23, 2016

Multiple Offers Toronto

Multiple offer situations are hard; There can be only one winner.
As a buyer I would always be wondering if there really were other offer bidding on that house.
If I attend the offer presentation; I see the agents line up and wait outside the house, but what if there is no formal offer presentation.
I took the Rules of Etiquette as posted by Brian Madigan and stepped one further.
I posted each AGENT's name, email; and company details on a single blog post. I presume that you can decide if you want to contact the other agents you can [ if they were in person outside a house THEY DO ANYWAYS!]

Over a hundred updates.....
Could it have been done better?
What would you have done?
Call each agent with updates of each offer as they occur?

Call me

Monday, June 20, 2016

14 Welbeck Drive, Brampton ON

Received offers from the following on Welbeck

13 REALTORS registered offers
These have been received by email.
Two withdrew

1. Arun Miglani

RE/MAX Champions Realty Inc.,

9. Ravi Bedi RE/MAX Gold Realty Inc.,

10. Bhupinder Singh Jassal  Homelife Superstars Real Estate 

11. Ian Futrega  Royal Lepage Credit Valley Real Estate

12. Steve Hricky  Kingsway Real Estate Brokerage

13. Naji Nader  Right at Home Realty Inc., 

Thank you for your offers.

One of the Offers has been selected as the winning bid.  
The winning bid had been contacted by EMAIL and telephone with confirmation to deliver their deposit cheque.

Sale details will be released immediately upon receipt of deposit funds.

Thank you for your showings, support and professional offers.   Unfortunately there is only one winning bid, but many worked on this effort.

the Winning Offer was  Bhupinder Singh Jassal from  Homelife Superstars Real Estate who placed a bid or $500,000.

We now have a firm and binding agreement.

Updated June 23rd 2016 6:12 pm  

Bidding Rules will be revised according to the situation we are in;
I do not have an offer of my own in this competition.

Multiple Offer Hand Out

1 Bid Process and Timing

Let’s have some “fair rules” and this would be the place. What about some of the following rules:

All offers are assigned a number from the time of registration
All offers will be presented in order of their assigned numbers
All offers received by fax will be placed in a sealed envelope
All offers delivered will be placed in a sealed envelope
All buyers' agents will have the opportunity to present their respective offers in person, should they choose to do so
All offers must be submitted with an irrevocable time acceptance being no earlier than 10:59 pm on the specified date
The least favourable 20% of offers will not advance to the next round
The most favourable 80% of offers will be invited to re-submit and advance to the second round
Only the most favourable 20% of offers will advance to the third and final round
No offer may be withdrawn prior to its irrevocable time unless it has been rejected

2 Opportunity to Respond and Participate

Just for clarification:

All bidders will have the opportunity to participate
Only those bidders who have advanced to the next round will be invited to participate in the second and third rounds, as the case may be
No pre-emptive offers will be entertained or considered, since clear and specific instructions from the seller have confirmed that offers with shorter irrevocable times will not be presented and reviewed
The intention of the above rule, is to ensure procedural fairness for those prospective buyers who have chosen to follow the rules

3 Seller’s Agent’s own Buyer

From time to time, the seller’s agent will have a buyer and such a potential buyer may have an unfair advantage. The purpose of the procedural rules is to eliminate, to the extent possible, such unfair advantage.

Sometimes, buyers will work around their own agent in order to deal directly with the listing agent. We all appreciate that isn’t fair. So, here are some rules:

In such cases, the listing agent will secure the services of his broker of record or office manager who will oversee the fairness of the procedural rules as “bid supervisor”
The broker of record or office manager may appoint another delegate, provided such delegate is not receiving any referral fees in the subject transaction
Only the bid supervisor will communicate, contact, meet, or discuss in any way the offers with the seller
The listing agent will refrain from contact with the seller during the bid process
This is not a rule that applies to the brokerage and multiple representation, this applies only in the case of the individual listing agent and the individual buying agent, being one and the same person

Commission Reduction Disclosures

On occasion, a party may wish to secure an advantage by not accepting the full commission as offered by the brokerage to the co-operating brokerage. So, they will try to leave some money on the table. But, it’s not free, they want to secure another financial advantage. They just are omitting the part going to the brokerage  and attending to the payment of various taxes. The problem is how to assess the value of the reduced bid and give it an “artificial bump up”.

I am suggesting that we simply leave the playing field level. Take the full commission, pay the brokerage and pay the appropriate taxes etc. Here are some additional rules:

All commission reduction disclosures by the listing brokerage shall be made as required by law, prior to submission of the offers
Commission reduction arrangements by other registrants are not encouraged
Participants are encouraged to accept the commission as offered, process the payments and attend to the payment of the necessary taxation on the gross amount of the commission

Third Party Oversight If required.

You will appreciate that one of the most significant features to ensure fairness is third party oversight. If this is the way ABC Realty handles all its bidding wars, then that’s fair, and I would participate again. The system is open, fair and transparent.

Consider these rules:

The bid supervisor is to receive and consider the offers, meet with the seller and negotiate any further offers and counter-offers with the buyer.
The bid supervisor shall comply with the requirements of REBBA, 2002 concerning the validity of offers and identity of buyers and/or their agents as required
The bid supervisor will communicate any disclosures and advise all participants, from time to time as to the number of registered offers, the number of registered offers withdrawn, and the current number of registered offers.

These are as drafted by Brian Madigan