Parking Costs What ? Nor Yeretsian

We have many costs in a big city, the inescapable one is parking.

Finding it is one thing, paying for it is another thing.

In Canada, for employees parking at the office could be deemed a taxable benefit by the Canada Revenue Agency (CRA) as was recently the case with police officers – who received such notices.

Executives working for corporations in the center of towns where parking is always at a premium, the taxable benefit is added to their T 4 taxation / payroll slips.

If we think we can get away from paid parking, and at times we think we can by finding a spot on a side street or in front of the Starbucks coffee shop ( even for 5 minutes ) and we are not lucky as my recent experience indicates. As I walked out of the coffee shop with my beverage, there on my windshield was a bright canary yellow ticket. The coffee was $3.95 plus taxes, the ticket was $ 60 the experience was expensive and lesson learned – will not park there again.

Parking, daily parking  and daily ticketing on city streets is a great and needed source of revenue for the city. There is never enough of it and it will be getting worst in growing cities.

Question and the Decision we are challenged with is whether we should consider buying a parking spot ?

Is it a good investment, how does it compare ?

How has it performed against other investments over time ?

The following is an interesting survey of worldwide parking rates :

Parking Rates Worldwide

Colliers International (a big real estate
company) did an international
survey on the cost of car parking.
The results are presented in the chart below, which shows the
monthly parking rates. (via The
Drunkeynesian)

What caught my
attention:

• Prices that
  are too low (in my almighty opinion of course): Bangkok , Delhi,
  Jakarta,Mumbai, Buenos Aires, Rio de Janeiro, Los Angeles, Seoul, São Paulo, San
  Diego, Santiago, Beijing, Mexico City, Istanbul and Atlanta.
• Prices that
  are too high: _________.

Monthly Parking
Rates Worldwide* (USD)

[Click on the chart to
enlarge the image]

*Monthly unreserved
median rates.

By Urban Demographics

When your clients buy that new condo from you, and ask you whether they should also buy a parking spot underground, think about the above numbers and questions.

Twitter : EnvoyCapRealty

www.envoycapitol.com

Envoy Capitol Realty Inc., brokerage                           Toronto   / Canada
Buy, Sell, Lease, Consult, Develop, Manage, Syndicate — Investments

Blog : www.capitalmoves.blogspot.com

 

Not meant to provide legal, accounting , tax ,engineering or environmental advise. It is recommended that  expert advise in the areas of your concern be obtained
before proceeding with action. Real Estate is local and therefore local expertise should be sought. The above is provided as a public service and for discussion purposes only.

Govern yourself accordingly.

A Walk About In Toronto Nor Yeretsian

City of Toronto Skyline

As we walk along King Street West in downtown Toronto, Canada we see some

amazing buildings.

From Old structures that captured history to New structures that displace the scientific,

design achievements and capital of some of our  best minds and developers.

It is real estate at its best.

www.envoycapitol.com

Design and Architecture in Toronto

Toronto ' s Bell Lightbox , where Movies and Culture Happen.

The Weak Link In Real Estate

“Is the Real Estate Condo correction

   near?” Clients are asking.

The Following is an informed article that seems to suggest that there is plenty of room for a correction in the Condo market and concern  for investors to not over extend.

Be very careful if you are thinking of investing in a condo in Toronto.

The supply is coming on strong however the supply may not be there to support prices or values when it come time to selling or flipping your agreements. You should always seeks expert advise before you act and working with a realtor and a lawyer is always good advice.

Study the market and the building ( location ,etc ) and the builder before you commit money to the real estate condominium project. Establishing your financing needs first is also good and get you confidence to move to a specific price range. Stay within your resources, as there will be closing adjustments plus professional fees ( legal and accounting ) on closing. Keep a reserve of atleast 5% of purchase price for any unanticipated costs which may arise.

There are different considerations for buying to live in the unit versus investing in this product.

Again get the assistance you may need from the professionals, your realtor should beable to help in this area by providing you with three names of competent professionals. As you discuss and interview each one of these professionals, determinne which one is the best fit for you.

www.envoycapitol.com       Providing a learning experience with every transaction.

By MONICA
GUTSCHI

Bloomberg NewsBank of Canada Governor Mark Carney has warned that the
“ample pipeline of developments…and heavy investor demand reinforces the
possibility of an overshoot in the condo market” in Toronto and other cities
like Vancouver. Above, condo construction projects stands in this photo taken
with a tilt-shift lens in Toronto in July.

TORONTO—A condominium-building boom is lifting Canada’s largest city into the
same stratosphere as London, Sydney, Vancouver and Miami, but deepening the
worries about a potential tumble.

Buyers snapped up 1,986 condominiums in Toronto in July, up 28% from a year
earlier, according to the Canadian Real Estate Association. Average prices have
surged 8% to 9% a year for the past five years, climbing to 304,000 Canadian
dollars (US$306,900).

Rows of sparkling condo towers line the shores of Lake Ontario, while cranes
dot the inland skyline near the tony neighborhood of Yorkville, a magnet for
visiting pop-music and Hollywood celebrities. In May, a local real-estate
developer announced that an undisclosed foreign buyer paid a record C$28 million
for a sprawling unit in a tower of luxury condominiums anchored by a Four
Seasons Hotel.

Juwan Howard, who plays for the Miami Heat of the National Basketball
Association, recently toured the city by helicopter with Toronto-born teammate
Jamaal Magloire, looking to buy a condo as a second home or investment.

“I’ve been hearing a lot about the Toronto market,” Mr. Howard says. “I’m
impressed by the fact that this market has been able to do so well despite what
the U.S. market has done.”

View Full Image

In Miami, an invasion of foreign buyers inflated a speculative real-estate
bubble that burst disastrously. Condominium values plunged, foreclosures soared
and glitzy condo developments stood half-empty. Now, sales are rebounding
because of bargain hunters, some of them from Canada.

Toronto is a long way from Miami, but the condominium boom north of the
border has begun to evoke ominous comparisons, even among real-estate agents.
The Toronto area is home to 1,198 condo projects with 210,000 units, according
to research firm Urbanation.

About 40,000 additional condominium units are under construction, including
16,000 set to hit the market next year. “There’s more supply coming than the
market really needs, unless we have a stronger economy than we have today,” says
independent housing economist Will Dunning.

In June, Bank of Canada Governor Mark Carney warned that the “ample pipeline
of developments…and heavy investor demand reinforces the possibility of an
overshoot in the condo market” in Toronto and other cities like Vancouver.

Toronto’s condominium-sales volume and average sales price slipped 2% in July
from June, the Canadian Real Estate Association said. Prices still are rising
faster than rents, hurting buyers who lease their condos to renters rather than
live in the units. If too many squeezed buyers decide to sell, even more supply
would spill into the market.

Low interest rates and a resilient economy are boosting property values
throughout Canada. High commodities prices have supported rises in some of
Canada’s oil and mining hubs, like Calgary and Saskatoon. Real-estate prices are
soaring in Vancouver, propelled by non-Canadian, especially Chinese, buyers.

Last week, the Canadian real-estate trade group boosted its sales forecast
for Canada’s housing market.

Toronto has always had some of the steepest home prices in Canada, but the
condominium boom is an eye-popping twist. Located about two hours by car from
Buffalo, N.Y., Toronto still is dominated by neighborhoods of semiattached or
stand-alone homes, much like cities in the Northeast.

About 60% of new-home sales in Toronto in the first half of 2011 came from
condominiums, according to the Building Industry and Land Development
Association. “It’s a crowded skyline now,” says Gary Wright, head of Toronto’s
planning division.

Sales in the past three- and six-month periods were higher than any previous
period, according to consulting firm RealNet Canada Inc.

Toronto real-estate agent Hunter Milborne says many of his high-end clients
come from India, Pakistan, the Middle East, Europe and China. Many foreign
buyers pay cash, according to real-estate agents, allowing them to avoid the
conservative lending restrictions at Canadian banks.

Under new rules imposed last year, investment buyers who want
government-backed financing must make a 20% down payment.

View Full Image

Bloomberg NewsAbout 60% of new-home sales in Toronto in the first half
of 2011 came from condominiums.

As many as 60% of recent condominium buyers in Toronto are investors who
bought their units from developers before construction began—and then sold their
condos, Urbanation estimates. “A lot of people, in the last five years
particularly, have made a lot of money just flipping condos,” says Andrew La
Fleur, a condominium broker with RE/MAX LLC.

But buyers whose condominiums are investments are getting squeezed. Stagnant
rents make it harder to cover mortgage payments. And many economists expect
Canada’s interest rates to move higher by the first half of 2012. Higher rates
would pressure some investors to sell and hurt demand from first-time condo
buyers.

“The longer we are in this superlow interest-rate environment, the greater
the potential for a big correction,” Mr. La Fleur says.

What’s My Commission ?

What’s My Commission ?

You are an
independent contractor ( sales representative) with Envoy Commercial Realty (a
fictitious name) and you list an income producing mixed use property for sale
for $3,850,000.

The
commission negotiated with the owner (seller) is 4.5% plus HST to be paid upon
successful sale of the property. Your brokerage places the property on TREB’s
MLS and the various links and also on your brokerage’s website.

Within a few
days an inspection by another brokerage, followed by a showing than a
conditional offer. Assuming all goes well, property is sold and closes 120 days
later.

The deal
secretary asks for the trade record sheet to be prepared and copies of receive
of funds issued for the deposit and the FINTRAC compliance documentation having
checked photo identification of all clients, as well as the listing and the
agreement of purchase and sale for the complete file – before any cheques will
be issued from the brokerage as per office policy.

Everything being in order, Commission cheques are being drafted;

Total Commission as per listing agreement à $173,250 + HST (13%): 22,522.5 = $195,772.50

$195,772.50 billed to selling client on this transaction as negotiated….

As per agreement; 50 / 50 slip between brokerages – therefore $ 86,625 each plus HST

(13%) Listing brokerage and sales representative/broker (split 30%/70% $ 86,625) therefore

The split is $ 25,987.50 to brokerage and $60,637.50 sales representative for listing side
plus HST.

On the Buyer’s representative’s side ( referred to as the selling position) the brokerage received $86,625 plus HST, with a split of 90% / 10% ( sales rep and brokerage ). However the buyer was referred from another register sales representative who only does residential condo sales and was happy to receive a negotiated 25% referral fee from the buyer sales representative.

Therefore the numbers for the cheques would look like this;

Of the $ 86,625 ,$8,662.50 goes to the brokerage (10%). $77,962.50 goes to the sales rep
from which he needs to pay the 25% referral fee of $ 19,490.63 + HST.

Now you know, if you didn’t know.

 

www.envoycapitol.com

Twitter :
EnvoyCapRealty

Envoy
Capitol Realty Inc.,brokerage                            Toronto /Canada

Buy,Sell,Lease,Manage,Consult,Develop,Syndicate – Investments

What Do We Want In a Realtor ?

You Have To Like Your Realtor…

What do you mean I have to like my realtor?

Well using your emotional intelligence your liking or not of the individual

is going to affect your business relationship, in a positive or negative way.

As well as the positive energy that will come to the work to deliver excellent

results for all.

What do we want in a Realtor ?

Just sell my property and your my hero, if you don’t you’re a bum.

The bottom line is all that matters for some people, they really don’t care how you do it.

Just do it fast and cheap and your loved.

Clients don’t want to hear excuses about why the property it not selling –

they want results and they want their money, quickly.

They also don’t want an after taste of court action or other complaints and challenges.

What we want in a realtor, is a good leader.

Leading us through and managing the stress of the real estate transaction.

Whether selling, buying or leasing – clients expect and should find a

professional handling their real estate in an ethical and efficient manner.

How should they select their realtor?

Should it simply be a family member or a friend who has a real estate license?

Some of the qualities we expect , but are not limited to include ;

integrity, empathy, vision, courage, emotional intelligence, good judgement

and a driving passion for real estate and people.

Selecting a realtor takes a little bit of work, suggest you interview at least three.

You usually get what you pay for in life, negotiate the commission at the end.

Focus on the quality of the professional you are selecting for the largest

asset you may own.

All properties that are listed do not sell – for many reasons which we will explore
in a future article, however it may not be the fault of anyone involved – could
have been a matter of timing.

 

In bidding wars, with emotions all over the place and usually the properties end

up selling for an excessive price.

Bank appraisers may well come in with a lower valuation and problems happen,

people suffer.

A good realtor will make sure everything is kept in balance and everything is
qualified to close as projected – we are not fly by the seat of our pants. We
know because we have done the home work to know, how it should all work out for
all parties to the transaction. We follow the transaction after the agreement
and live through each condition as they are satisfied and interact with the
financiers to make sure the money needed to close will arrive. No surprises.

We worry all the details of the deal to satisfaction and completion.

In the event the real estate deal is not going to close as planned,

we are ready for the backup plan to re-market the property to other interested parties.

It’s not all fun and games in real estate, it’s a serious business and you need a
professional.

The human dynamic is complex and it is unpredictable at times, that is why we find it so
fascinating. A realtor is only human, with strengths and weaknesses. Find one
who’s strengths you need and who’s weaknesses you can live with.

You have to ultimately like and entrust the person you hire as your realtor, choose well.

www.envoycapitol.com

Twitter : EnvoyCapRealty

Envoy Capitol Realty Inc., brokerage                              Toronto   / Canada

Buy,Sell,Lease,Manage,Consult,Develop,Syndicate — Investments

 

 

Here’s A Plan. What Do You Think?

Here is a plan, by Mohamed el Erian which is a road map toward progress and hopefully economic prosperity. It is one plan, we need more options and then some good debate to choose the best. Arguing back and forward will not get us to the next point in the progressive development and jobs in this competitive and fast-moving world.

” An alternative is to change the national economic narrative and, thus, the political dynamics and dialogue. After all, ongoing global economic realignments require a reassessment of the big picture. Rather than endlessly argue on individual measures, let us instead take it from the very top. And do so in five steps:

First, start with a specific destination for the economy defined by transparent metrics for growth, jobs, inflation, financial soundness and, importantly, the key social indicators. I suspect that most can agree on a formulation that is both desirable and feasible.

Second, translate these objectives into clear priorities for lifting the major structural impediments to our economy. Again, I suspect that there would be broad-based accord on key sectors where simultaneous and coordinated actions are needed. (My list would include housing, the labor market, banks, infrastructure and public finances, as well as immediate steps to unleash productive energies.)

Third, put in place a mechanism and quantifiable variables for high frequency assessment of both the implementation of structural reforms and overall progress towards the overall objectives.

Fourth, get the executive and legislative branches to commit to this trio (medium-term objectives, major areas of structural reforms and process for mid-course corrections). In doing so, America would secure the political air cover that is so critical to the successful implementation of measures over a number of years.

Finally, get the technocrats to work out the details and present them as a package for political review and approval. Their focus would be on both immediate measures and those to be implemented over a number of years.

I suspect that this reformulated approach would offer greater prospects for economic improvement.”  ( Huffington Post , Aug 16/11)

It’s no time for a summer long vacation and it’s certainly not good for anyone of us if decisions are delayed for a year or so for the next administration – who ever it may be, to resolve the stagnating economy and the joblessness. Confidence needs a boost, consumers need to be assured and productivity efficiency and inventiveness need to dramatically improve.

We know the problem. Let us determine the corrective actions needed and implement them ASAP !

What are your thoughts about the efforts expensed on the economic drive in North America ?

Leave a constructive comment below… Thank you in advance.

www.envoycapitol.com

Twitter : EnvoyCapRealty

Envoy Capitol Realty Inc., brokerage                   Toronto  / Canada
Buy,Sell,Lease,Consult,Develop,Manage,Syndicate — Investments

Waste of Time and Money ?

What’s the point really, have you learnt anything new at a conference,

made connections that lead to making money through referrals ?

This is the optimistic hope when we eagerly set out to go to any meeting or conference,

that we will benefit in some meaningful and deeper way either new ideas, a new spin on a concept,

a more efficient way of doing what it is we are doing and ultimately resulting in a better day

and a greater reward for us.

Here’s one I received in my emails yesterday ;

• Group: Real Estate Connect – Inman News
• Subject: Last Chance – Save $450 on Real Estate Connect NYC 2012

Super Early Bird Pricing Expires Today!

Today is the last day to take advantage of Early Bird Pricing for Inman News’™ upcoming Real Estate Connect® conference in New York City, January 11-13, 2012 at the Marriott Marquis in Times Square.

Register by midnight tonight PDT, for only $549 (or $449 if you are an Inman News Premium Member) >> http://bit.ly/qv3JXr

Make sure you start your year off right! Don’t miss the opportunity to network with thought leaders from the real estate and technology industries and save $450 in the process.

Register now >> http://bit.ly/qv3JXr

-The Inman News Team

Questions about registration? Please email us at customerservice@inman.com

Interested in sponsoring? Please email sales@inman.com

Anyone going ? Did you go last year and was it worthwhile or should we skip it ?

In this age of technology , where we can find anything about anything on the net or just google it –

why would I need to go to a meeting or conference about my industry ?

Are they just trying to sell me something ?

Or is it about meeting and connecting with real people – establishing relationships ?

What’s it all about ?

Leave a comment below and educate us please.

Thanks in advance.

www.envoycapitol.com

Twitter : EnvoyCapRealty

Envoy Capitol Realty Inc., brokerage                   Toronto / Canada

Who Said Real Estate Was Easy ? Norair Yeretsian

One of those urban myths out there is that real estate is a simple business

and anyone that wants to do it, can.

The truth is that it is anything but a simple business.

It is not the place to make big money with little or no real work (no risk ).

And listings do not always sell themselves, just by putting it on MLS.

Yes there are challenges we face every day and every transaction is unique.

After studying and writing the challenging examinations we must go through just

to get licensed to be able to practice the art of real estate sales and marketing.

With the  continuous education requirements and insurance coverage for errors and omissions,

and the stress of dealing with potential complaints to the Real Estate Council of Ontario and
compliance requirements with FINTRAC and the necessary disclosures and representation
agreements that need to be signed and filed.

This is all the easy part of the business, the next stage is actually finding clients,
dealing with other realtors and closing deals.

And as we said earlier every deal is unique and every client is special.

Most of us overlook or take for granted the critically important role of marketing –“
something that must be invested ( time & money )  in by all companies including
individual Realtors.”

With nearly 30,000 realtors competing for listings in
Toronto and only one realtor / team of realtors getting the listing and the
privilege to represent and market the property at a negotiated commission.

It’s half a victory to get this listing
opportunity in the first place, at a competitive price, than again compete with
other listed properties to achieve a marketed sale. Only then does the average
realtor earn his/her pay-day.

For which, if the market is tight and the property is over leveraged or
burdened with obligations – the closing of these properties will be delayed
until there is agreement as to who may accept a squeeze of the monies owed
them, bank – the mortgage(s)/lines of credit, tax department, liens and other
encumbrances, etc – the realtors and their commissions (may get cut, or an
interest free second mortgage with no payments due for 3 years; for example ),
never it seems the lawyers involved.

Marketing costs ! And there is no assurance of return of
these expenses to the realtor(s).

Who spent their money advertising the property for sale, placed signs, kept a
database of qualified prospects and networked over years. Some realtors just
make it look easy – but they have been hard-working farmers tending to their
fields of expertise and farm areas.

Yes some realtors are also lucky, right time right place, being in the right
market with the economic winds at their backs.

An associate of mine, educated me recently about the “amount
of time, talent and $$$ invested  by Ad agencies in a half day ‘pitch’ is phenomenal.

He reviewed several agency’s presentations. However one of these agencies –
decided to close their Toronto office for the day, bussed their employees to
his company’s HQ and had them standing in the parking lot, to demonstrate the
ageny’s commitment to his company’s business.

They won the account, by the way.

But what of the four other agencies, that did not win his company’s account ?

They had to eat the cost of their presentation(s) and everything that went along with it.

The analogy applies to Realtors also – you have to invest in Marketing,
including listing or buyer rep presentations. And you can’t sit back and say
“well, if I don’t get the listing I’ll have them sign a consulting
contract”. The entire contract goes to one of your 30,000 competitors, who
may not be equally skilled – yet they are equally licensed, insured and have
access to MLS ( if that is important to the client ).

There’s an estimate from experience,  that of the opportunities we uncover,
we actually gets paid about 3% of the time.

In 97% of the cases, we either do not get the assignment, or the deal falls through.

This may be a huge revelation and mental ‘shift’ for some
of us, since as a  career employee of a corporation or government,  we may have
one client (our Employer) and we get paid 100% of  the time for all our efforts and all of
our expenses are covered.”

There are no guarantees in real estate.
This may be one of the contributing factors to the
large numbers of turnover among sales representatives.
Real Estate sales is easy to get in, however tough to stay in.

Real Estate is a competitively tough business which most clients and new realtors seem to
overlook or take for granted.
Go in prepared and with both eyes open!

www.envoycapitol.com

Twitter : EnvoyCapRealty

Envoy Capitol Realty Inc.,brokerage    Toronto / Canada

Buy,Sell,Lease,Consult,Develop,Manage,Syndicate — Investments

How Do You Expect to Get Paid ? … Norair Yeretsian

How Do You Expect To Get Paid ? …Norair Yeretsian

There is no free lunch !

Someone always ends up paying.

In a real estate transaction, the seller lists a property agrees to a commission , when
and if the property sells the representative gets paid.

On the buyer’s side, the transaction closes – is complete, the buyer’s representative will get
compensated either from the seller’s side or the buyer pays directly.

The realtor could have been hired as a consultant on a fee basis, such as hours spent and
no other compensation.

It’s all negotiable – however it is payable !

If the realtor fails to set up the appropriate arrangement in advance for compensation
and neither seller or buyer agree to pay him/her – the realtor pays !

Eventually these realtors are wiped out — this is not how a professional does it.

If you have something of value to offer, then someone is usually prepared to pay you for
your time and receive your professional services – expertly delivered.

Any professional you meet with today will usually give you an initial 20 minute
assessment interview to figure out the required needs/wants of the client/customer.

But after this meeting where the client really does all the talking and explaining
about what you need to achieve and the professional simply listens carefully
without any real value added service.

And before any real work is commenced – the Retainer comes out to be signed
and a payment (expected) is put up by the client.

When you or I  visit a medical professional or hospital in
this country with universal health care ( so you don’t pay directly, we pay
through of taxes ), before they look at you and your needs they get your
insurance number to secure their payment.

Rushing into emergency, first thing first – need your number – secure payment
then they look at your injury and treat it.

Lawyers usually want retainers upfront before any litigation is considered, in Ontario.

Accountants have you sign an engagement letter with them, and authorization to deal with CRA.

Most trades in the province of Ontario are protected generally speaking through the
Construction Lien Act. against real work done and  non-payment of this work.
They better have a signed contract upfront and proof of satisfactory completion of work – photos
are good, and request for payment within 45 days of completion. www.capitalmoves.blogspot.com
there’s  an article that details the Construction Lien Act of Ontario at this site good reference.

But what about real estate professionals ?

If you as a real estate licensed professional want to get paid and be able to enforce
that contract/ agreement in the courts it better be in writing.

( References ; Statue of Fraud and REBBA (2002) ) .

So why do some realtors fail to protect themselves and  fail to establish up front the contractual

relationship of payment for services ?

These same realtors tell us – that some clients refuse to sign anything. So being worried
not to lose a client, they get careless and run about believing that hard work
will payoff eventually in the form of a big commission. These same realtors
advise the public not to sign anything with anyone – because then the client
would have to pay all the realtors they have running around for them. The
environment becomes polluted and once soiled , it does become difficult to
educate, or re-educate the consuming public.

However as a professional you do have a choice – to work or not to work. You can select
who you wish to work for, only the clients that sign and retain your services
at an agreed to compensation and the scope of work to accomplish.

Would these same clients go to work – if there was any uncertainty
as to them getting paid, after working all day/week/month?

Would they be happy negotiating after the fact, about the compensation they
should receive?

And after they have done a their job, discuss with their employer whether he
could get a discount or a part of their salary back either a reduction or cash
in an envelope?

It certainly does not help that there is a lot of competition out there for the
client’s business, because of the volume of people with a real estate license
almost 30,000 in Toronto. Most of these individuals work at real estate part
time, earning a real living else-where so real estate becomes a hobby for them.
However their liability to the public in Ontario is not less than a full-time realtor.

The Public expects and should get 100% professionalism from every realtor.

You as a licensed realtor in the province of Ontario have become a professional that
deserves satisfactory compensation for a satisfactory job accomplished.

Plus  all this potential liability you carry as you
transact for a buyer or a seller or both – issues that may be problematic with
the property that were undiscovered by anybody – is now your problem. Everyone
looks to the realtor in times of trouble and concern. They come after you for
compensation – through your insurance fund for any and all errors. They could
take you to RECO for a disciplinary hearing, where you could be found at fault
and are charged with the costs of the hearing plus a fine – in the thousands of
dollars. Go to www.reco.on.ca  to learn more.

So be ethical in all your dealings, be competent and be the professional

everyone expects nothing less and you as a realtor should be paid accordingly!

As any professional, establish your relationship and your authority to represent the
client / customer. Get it in writing and get it up front – before any
meaningful services are rendered.

With a seller our authority is the listing, or an exclusive listing arrangement where
commissions or fees are discussed, negotiated and agreed.

With a buyer, get a buyer representation agreement in place with appropriate payment
arrangements discussed and put to bed, so you can focus on delivering excellent
service.

Alternatively get a consulting agreement /a mandate, retainer letter – engagement in place
describing the scope of the work, the range of your services and define a
satisfactory completion and establish your hourly rate or flat fee arrangement.

Establish the plan, define the work and describe the pay – with no surprises,

only happy endings !

What are your thoughts and insights ?

Leave a comment below.

www.envoycapitol.com

Envoy Capitol Realty Inc., brokerage                 Toronto / Canada

Buy,Sell,Lease,Consult,Manage,Develop,Syndicate– Investments

Twitter :
EnvoyCapRealty

Blog : www.capitalmoves.blogspot.com

Email : capitalmoves@gmail.com

 

 

 

 

 

 

Grandpa and the IRS

The Canadian version of this tale would replace IRS with the CRA – or your tax authority.

The IRS decides to audit Grandpa, and summons him to the IRS office.

The IRS auditor was not surprised when Grandpa showed up with his attorney. The auditor said,

‘Well, sir, you have an extravagant lifestyle and no full-time employment,

Which you explain by saying that you win money gambling.

I’m not sure the IRS finds that believable.’ I’m a great gambler, and I can prove it,’ says Grandpa.

‘How about a demonstration?

‘ The auditor thinks for a moment and said, ‘Okay. Go ahead.’ Grandpa says, ‘I’ll bet you a thousand dollars that I can bite my own eye.’

The auditor thinks a moment and says, ‘It’s a bet.’ Grandpa removes his glass eye and bites it.

The auditor’s jaw drops. Grandpa says, ‘Now, I’ll bet you two thousand dollars that I can bite my other eye.’

Now the auditor can tell Grandpa isn’t blind, so he takes the bet. Grandpa removes his dentures and bites his good eye.

The stunned auditor now realizes he has wagered and lost three grand, with Grandpa’s attorney as a witness.

He starts to get nervous. ‘Want to go double or nothing?’

Grandpa asks ‘I’ll bet you six thousand dollars that I can stand on one side of your desk, and pee into that wastebasket on the other side,

and never get a drop anywhere in between.’

The auditor, twice burned, is cautious now, but he looks carefully and decides there’s no way this old guy could

possibly manage that stunt, so he agrees again.

Grandpa stands beside the desk and unzips his pants, but although he strains mightily,

he can’t make the stream reach the wastebasket on the other side, so he pretty much urinates all over the auditor’s desk.

The auditor leaps with joy, realizing that he has just turned a major loss into a huge win.

But Grandpa’s own attorney moans and puts his head in his hands. ‘Are you okay?’ the auditor asks.

‘Not really,’ says the attorney.

‘This morning, when Grandpa told me he’d been summoned for an audit, he bet me twenty-five thousand dollars

that he could come in here and piss all over your desk and that you’d be happy about it!’

Don’t Mess with Old People!!

Have a Great Day.

Thanks to Conrad Allan from  www.Activerain.com , for sharing this funny, happy ending.

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