Recent Blog Posts by Constantine Isslamow

Highlight from the 2009 NAR Profile of Home Buyers and Sellers

Characteristics of Home Buyers   Forty-seven percent of recent home buyers were first-time buyers. The typical first-time home buyer was 30 years old, while the typical repeat buyer was 48 years old. The 2008 median household income of buyers was $73,100. The median income was $61,600 among first-time buyers and $88,100 among repeat buyers. Twenty-one percent of recent home buyers were ...

Becoming Licensed to Sell Real Estate in Ontario

A career in real estate is for people who enjoy helping people. You also like: Flexibility in your schedule Variety in your day Being connected to the world with tools and technology like cell phones, PDAs, and laptop computers Trading in real estate is a dynamic career choice, with market conditions and legislation constantly changing. Life-long learning is essential to retaining your edge. ...

Coaching Tips & Strategies #31

LISTING STRATEGIES (12) Steps 6 – 8 of the listing presentation. 6. Choose a spot to present:  Give the sellers two options, the kitchen table or the dining room table.  This is a business meeting and you are dealing with what is typically their largest investment.  Do NOT sit directly across from the sellers.  This is a confrontational position and you may lose the listing ...

Coaching Tips & Strategies #30

LISTING STRATEGIES (11)    The first FIVE STEPS of the listing presentation 1. Show up on time:  As simple as it seems, you would be amazed at how many times a Sales Representative/Broker shows up late for a listing presentation. I sit in my office and watch clients arrive at the office with no Sales Representative/Broker here to greet them.   2. Dress professionally.  ...

Coaching Tips & Stragegies #29

LISTING STRATEGIES (10) First, have you prequalified the Sellers for their motivation?  Do they have you packet of information and comparables?  What is your system that you follow when you arrive for the marketing presentation?  How long is your presentation? Here are the 14 productive elements to a great listing presentation. Show up on time Dress professionally Have a clipboard ...

Coaching Tips & Strategies #28

LISTING STRATEGIES (9) A feature is what you have or do; the benefit is what your client is going to experience! Or it could be the result from any particular feature. Here’s a look at a couple of basic features and benefits for you to use in your listing presentation. Feature: Great Technology Benefit: A huge percentage of home buyers are starting their initial home search on the internet. ...

Real Estate Trend Indicator September 2009

http://onlineoffice.century21.ca/PublicStorage.c?ID=ecdc33b3-0d42-4f81-b9e2-c3864da0e29b  The 3rd quarter of 2009 came to an end on September 30th.  Looking at the City of Peterborough, sub-districts 1-5, single family, all types, we are clearly still in a buyers market with only 3.0 months of inventory. The last quarter had an average number of sales of 119. Currently there are 274 listings. ...

Coaching Tips & Strategies #27

LISTING STRATEGIES (8) The critical differences between Features and Benefits: I hear it all the time, “We’re the best or I’m the best because we have the best this and the most advanced that” “So what?” Features are not the piece that excites someone to take action, it’s the Benefit. The consumer wants to know, “What is the benefit of working ...

Coaching Tips & Strategies #26

LISTING STRATEGIES (6) How are you verbalizing your marketing skills? (Example Step 3, - Market Knowledge): What is market knowledge? Is it a simple Market Analysis or is there more to it? Do you know the difference between Median Prices vs. Average Sales price? If so, what does it all really mean? How about days on market? Sales price as a percentage of list prices? Your commitment is ...

Coaching Tips & Strategies #25

LISTING STRATEGIES (6) How are you verbalizing your marketing skills? (Example Step 2, - Marketing Skills): “Mr. and Mrs Seller, marketing your home is defined by using cost-effective, results proven strategies to get your home sold....Maximum exposure to the greatest number of potential buyers.... What are your expectations of me in marketing your home?” Sure, you have all the ...

Coaching Tips & Strategies #24

  LISTING STRATEGIES (5) “You know the market, you know how to market and you’re a great negotiator.” But how are you at verbalizing your negotiating skills? (Example, Step One – Negotiating Skills): “Mr. And Mrs. Seller, in your opinion, who do you feel the primary person is that I negotiate with when getting your home sold?” The typical answer ...

Coaching Tips & Strategies #23

LISTING STRATEGIES (4) Let’s talk about the “Listing Presentation”.  It’s the one time that you have to verbalize your value proposition and someone else gets to measure whether you are worth it or not. Buyers are easy to work with...they call on a sigh, you set an appointment, you ask them if they like the house, they say yes, you fill in the blanks on the contract, ...

Units Sold January 1, 2009 - August 31, 2009 by Price Points

Peterborough and The Kawarthas Number of Units Sold by Price, Average Days on Market and Sale to List% January 1, 2009 – August 31, 2009 Price Units Sold Average Days Sale to List % <30,000 0 0 0 30000-39999 1 98 80 40000-49999 3 149 83 50000-59999 0 0 ...

Stats You Should Know August, 2009

Here is a recap of activity for the Peterborough Kawartha Association of REALTORS®. Total active listings 2,127 Compared to last year at this time 2,442 Average list price $236,759 Average market time 81 Days Compared to last year at this time 69 Days List price vs. sales price ratio 96% Compared ...

Housing Starts

Total New Housing Starts (Seasonable adjusted and annualized) Province May 2009 May 2008 June 2009 June 2008 July 2009 July 2008 Newfoundland/Labrador 2,800 2,900 2,900 2,800 2,900 1,800 PEI 800 700 1,000 600 600 400 Nova Scotia 2,900 3,800 2,700 ...

Resale prices

Average MLS resale price for local markets City July 2008 July 2009 Halifax $236,514 $243,524 Saint John, NB $154,273 $156,010 Montréal $272,039 $280,890 Ottawa $295,134 $300,635 Toronto $371,410 $395,414 Hamilton/Burlington $281,580 $296,591 ...

Affordability Index Standard Two Storey

Housing Affordability Index Standard Two-Storey   Average Price Qualifying Income Affordability Measure Province Q1 2009 Y/Y % ch. Q1 2009 Q4 2008 Q1 2009 British Columbia 530,500 -6.3 107,600 72.7 65.3 Alberta 358,800 -9.7 80,900 42.3 36.2 ...

Coaching Tips & Strategies #21

Tip #21 LISTING STRATEGIES (2) What “benefits” does the seller want from the home-selling experience? It’s not that complicated however, it is very important that you stay keenly focused around this at the listing presentation. To sell the house. The highest price. The least amount of inconveniences, and The least amount of hassle. How do you communicate to a seller ...

Coaching Tips and Strategies #22

Tip #22 LISTING STRATEGIES (3) Getting listings will be one of your toughest objectives to overcome and learn.  You will face learning “new” skill sets for any of the following in all your daily activities and in your career.  So why then is getting listings tougher? You have to be more skilled!  Here are the critical steps to getting listings. You have to prospect ...

Coaching Tips & Strategies

Tip #19 PRESENTING AND NEGOTIATING THE OFFER Let’s set the stage: You’ve written the offer and it’s time to present it to the sellers.  Do you simply fax it over to the listing agent and await their response? Let me ask you this, is that truly representing the buyer?  Of course not. Call the listing agent and let them know you would like to personally present the ...

Coaching Tips & Strategies #20

Tip 20 LISTING STRATEGIES (1) Why do we want take more listings?  Think of the following benefits. Schedule Management:  You can work with a buyer for hours, days and even months, and never get a sale.  When you are working with buyers, you are working for all the other Sales Representatives in your marketplace trying to sell their listings.  When you work with sellers, ...

Canada prices for repeat sales of homes up again

TORONTO -- Prices for repeat sales of Canadian homes climbed for a second straight month in June on gains in four of six metropolitan areas, including Vancouver, a report on Wednesday showed. The Teranet-National Bank National Composite House Price Index, which measures the rate of change of prices for repeat sales of single-family homes in six metropolitan areas, rose 1.5% in June. "The turnaround ...

Coaching Tips & Strategies #18

Tip #18 PREPARING THE OFFER It’s typical of the real estate industry, everyone wants to submit a lowball offer.  Your first step is to bring buyers to the reality of your current marketplace.  How do you do this? Is it a buyers market or is it a sellers market? Additionally, your other responsibility is to negotiate in the best interest of your buyer.  Keep in mind, negotiating ...

Canada inflation rate hits 56-year-low

Canada's annual inflation rate hit a 56-year-low in July, when prices fell by 0.9 percent from a year earlier on sharply lower energy prices, Statistics Canada said on Wednesday. Analysts had on average expected an annual decline of 0.8 percent. July's figure -- the lowest since the 1.4 percent drop recorded in July 1953 -- is far weaker than the Bank of Canada's target range of around 2 percent ...

July PKAR Sales Activity

SALES ACTIVITY: PROPERTY TYPE July 2009 July 2008 + / - % Residential 270 234 +13.3% Cottages/Waterfront 34 26 +30.7% Farms 5 6 -16.7% Vacant Land 18 14 +28.6% Income/Commercial 7 7 0.0% Total 334 287 +16.4% ...