2020 RE/MAX Fall Outlook Report

Key Findings

  • Canadian housing prices anticipated to increase by 4.6% in the third and fourth quarters according to RE/MAX Brokers and Agents. This is compared to the earlier prediction by RE/MAX Brokers and Agents of 3.7% at the start of the year.

  • 32% of Canadians no longer want to live in urban centers, opting for rural or suburban communities instead.

  • Canadians are almost equally split in their confidence in the Canadian housing market, with 39% as confident as they were before the pandemic and 37% slightly less confident.

WHY REAL ESTATE IS AN ESSENTIAL SERVICE

With social distancing advisories and non-essential business closures in place, many people – some realtors included – are scrutinizing whether real estate is an essential service as it has been classified in many regions across Canada and the US. Those who argue against the essential classification are coming from a good place, with hopes that more-stringent lockdowns will stop the spread of COVID-19. On the surface, shutting down such real estate services as those provided by agents, lenders, lawyers, and land registry offices may seem like the sensible thing to do given the current climate. However, the unintended consequences would be detrimental to many people and for many reasons.

Real Estate as an Essential Service

The fact is, real estate is an essential service. This is something that RE/MAX leadership has lobbied hard for, for the right reasons. Alongside food, water, and clothing, shelter is one of life’s basic necessities. While agents are advising their clients to “hold off” on selling their homes right now if they can avoid it, it’s important to recognize that under certain circumstances, waiting is not an option.

When Moving is a Must

Someone has already sold their home, and must now find a new place to live. Many of Canada’s housing markets were in seller’s territory in early 2020, prompted by low housing supply and growing demand. This motivated many homeowners to list.

A homeowner has to sell their existing home to finance the new home they’ve already agreed to purchase. Precluding homeowners from selling would have a detrimental domino effect.

A family is living in a precarious place, with no choice but to move. Factors such as neighbourhood crime or unsafe conditions inside the home itself may have forced a decision to move.

A homeowner has to liquidate their home equity in order to finance their business or their life. Social distancing measures mean many businesses are suffering huge losses. Furthermore, Canada’s unemployment rate in March 2020 rose to 7.8 percent, up from 5.6 percent in February 2020. Incomes are down. Meanwhile, the monthly bills continue to roll in.

Those who were already in the thick of the re-homing process as the pandemic set in are now finding themselves stuck between a rock and a hard place – and homelessness is not an option. With that said, this spring real estate market is anything but “business as usual.” RE/MAX, along with other real estate brands and associations, has strongly advised against open houses and in-person showings. The real estate industry has responded in an incredibly responsible way, limiting face-to-face contact and facilitating real estate transactions virtually.

Agents Are Doing Business Differently

Recognizing the need to proceed with real estate transactions, agents have adapted their business practices to meet social distancing measures. This includes digital listing presentations, virtual open houses and showings, video conferences, e-signatures, and e-transfers, among other things. RE/MAX agents are increasingly completing 100-per-cent digital transactions, and their clients are open to this new approach.

It’s understandable that people are on edge, as they come to terms with the shaky ground beneath us and the uncertain road ahead. Together, we will get through this and as always, RE/MAX professionals are here to provide guidance to homebuyers and sellers, to help them meet this most basic of human needs.

Mega Open Houses with us Work!

Congratulations to our lovely sellers who are on to new adventures!

I remember them saying when we initially met, that the other realtors don't believe in open houses...and I explained how we do them, and we believe in our strategy! We only do one 🤓and it works!

Guess what? Our open house strategy SOLD their home on Super Bowl Sunday💪 and during a huge ice storm! Part of the strategy includes our secret weapon, Michael😎!

If you want strategies that work - call us today and lets discuss which one of ours is right for your home!

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Multiple Offers and Professionalism

 

One of the things that is important when your listing goes in to multiples....is managing the communication with the other parties, including the other realtors.

I have been on the buying side and seen some interesting situations which were not beneficial to either the buyer or the seller.  Our objective is always clear and transparent communication.  Communication that makes everyone feel fairly treated and that they had as much opportunity to win the house as the next realtor...

The other side of that - is when its our turn and we have buyers in a fight to win their dream home, the respect and courtesy is reciprocated!   Today with 13 offers on the table for our latest sold listing, it was nice to get the realtors positive feedback.  Not only were our sellers ecstatic at their results, we had a family moving in who are happy.  Yes, 12 other buyers were not happy, but at least they didn't feel they were kept in the dark, or didn't have a chance to do their very best.

We will always do our best for our sellers, but we will also do our best to promote fairness and professionalism.  It just makes sense long term.  Thank you to all who put their efforts in today.  We don't win everyday, but everyday we do our best.  That's all you can do in situations such as these!

Now more than ever...#whoyouworkwithmatters

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Customer Service or Customer Experience?

Last week I escorted my young niece to Montreal to support and encourage her on a big interview in Montreal.  I decided to make the trip worthwhile and take a day or two in Montreal to enjoy the pulse and energy in the most cosmopolitan city we have east of Ottawa;)

I think the whole reason I love travel, hotels, window shopping and dining out is to experience service.  Or to have an experience as a customer.....Having been work raised in high end, exceptional, service oriented retail businesses, I am always curious about who is doing what and who is the best.  So when I am away, I delve in and look for those service moments.

Truthfully, I have fallen in love with Montreal and it was the experience after experience over 48 hours with everyone we met.  I was wowed!

But really, I fell in love with Pierre Beauchamp at the Hotel Omni, Mont Royal.  Pierre has been their ambassador from the beginning when it opened as a Four Seasons to its present ownership as the Hotel Omni.  Thirty nine years of making guests fall in love with him, the experience and the hotel.  He had me at the front door with his first hello and his first giggle.  And I thought I had a laugh!

Pierre is the epitome of everything we all strive for in customer service.  He knows its the experience, the little things, the genuine love of what he does, the genuine pride of who he represents.  He knows he is the one who can make the guest feel like a million, like the only one.  He makes a difference.  He didn't just do it with us, he did it with James Brolin and Barbara Streisand, with Super Tramp, with Stevie Wonder.....Really?  He is even more special because it doesn't matter who you are, every guest is equally important. 

I came back to work today with a renewed sense of purpose.  A quest to always look for more ways to make the selling and buying experience better than the expectation.  To make it an experience, not a transaction.  I know we genuinely care and our clients truly get that sense, but I believe we can always do better, always strive for more.  Sometimes, you have to step away, get that personal experience, in order to remind yourself, of why you do what you do.  And to keep looking for new moments we can create for our clientele, who we care so much about.

Kudos to Montreal, kudos to Hotel Omni and super kudos to Pierre...it is because of you, that I will return!  You are a one of a kind, an exceptional gentleman, a superlative role model for everyone who works at the Omni...and may I say, your service is an art.  And there are not enough artists out there!  We all need to strive for this level of execution.   

I love you Pierre!

A Season of Happy Sellers

As predicted, the supply and demand situation in many parts of Ottawa (not everywhere), is creating a sellers market.  Great for the sellers and a wonderful way for us when we list homes, to strategize and achieve the top price possible for our clients.

We have had $30,000 over list, a townhome which last year would not sell over $270,000, get $40,000 more than 2017....can you imagine?  And the latest one, well let's just say, almost 6 figures over asking......almost like winning second prize in the lottery!  Needless to say, it is a situation which needs managing and strategizing.  Now more than ever, experience and a great realtor will help you net more than you thought possible!  

And then as a buyer, you have to be ready for this - and we have been uber successful with our buyers, because we have prepared them!  It is not a time to be traditional in one's approach and laissez faire, otherwise that home purchase will remain a dream and not a reality!

Either way, we know how important it is to align yourself with a realtor who can help you achieve your goals and dreams.  We humbly think that we can help, and would love to sit with you and discuss how.  I find the market exciting, because I love the dynamics and energy, but I know you may find it a bit intimidating.  We are used to that, and can walk you through it all, at your pace.  

And if you don't want to move, but want to take advantage of your home's value increasing - we have some thoughts on that too!  Call or text us anytime.  Michael and I are at your service.

 

Lorie Ann, You are a truly wonderful agent! Thank you for all that you have done for us. We appreciated your honesty, integrity, your time and knowledge. And Thank you for seeing our vision, I would have never though (4).png
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A Plethora of Reviews this Month! Thank you!

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Helping people is what we do!  Its what we love to do.  We don't need accolades, we just love knowing we did make a difference and we did get the job done and fulfil our clients goals!  Thank you to Rhonda and Phil, and Janique and Ben and Carly, for your 5 star reviews!  We appreciate your relationships, support and taking the time to send us a review to share!

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We LOVE happy clients...it's what makes us roll!

duo investment properties

We are delighted and impressed with the level of service provided by Lorie Ann Warren of ReMax Hallmark in managing the sale of our two residential properties (a triplex and a four-plex) in Ottawa.

With the marketing resources of ReMax, and the selling skills of Lorie Ann, we were able to list, market, and close the sale on both properties within two weeks of the date of listing.  And also, most impressively, we were able to sell one property at 100% of the listing price, and sell the second property at a negotiated price above the listing price.  In short, we were wowed by their selling skills and personal touch service.

We would highly recommend the services of Lorie Ann to anyone who is considering selling or purchasing a property.

BelleHolly Investments Ottawa

Our clients are so special! I know I keep saying it but it's true!

Happy Friday of the long weekend everyone!  Hope you go and enjoy the beautiful weather and do something fun with family and friends!  We live in a great city with so much beauty around us. Get out there and be a tourist in your own city!

I am heading home with a smile because I got this great photo from Danielle and Allen.  The sign company showed up to put the SOLD sign up and Scoobie was excited too!  I have to share, its a perfect photo (for many reasons).

Happy Civic Holiday Weekend!

From Lorie, Michael and Cynthia, and Scoobie of course... 

People truly put a smile on my face!

I am always so grateful for the people I meet in my career!  Its such a people business.  And there is no doubt we thrive and survive by the people we serve on a daily basis.  Our word is our bond, and our clients positive results mean everything to our team!

So when you open your email and hear how well the whole process went from beginning to end (not perfect, but close), and know that you now have a nickname of "The Beast" with one of the adult children, it brings a huge smile to my face!  That endearment is a compliment in my books! 

And if you need a "beast", someone who will work tirelessly for you - call us!

Our latest review:

"The Francis family has nothing but the very best to say about your professionalism, work ethic and dedication to your line of work.  It was indeed a whirlwind experience, all wrapped up from start to finish in just over 2 months!  We truly appreciated all your expert help and advice throughout the process, including all the folks you put us on to, such as Jesse and Bob. 

I told you before, if our neighbours had used you as their realtor, it would certainly not have taken them 3 years to sell their house, after a substantial reduction in asking price.

Our house sold in less than 3 weeks!!  Sadly, we have no more houses to give you to sell ... Lol

Thank you for making the process go so smoothly, it was indeed a pleasure working with you.  Laura sends her best regards.  And Philip says to tell you he's truly sorry he never got to meet "The Beast!"

Kathryn, Philip and Laura Francis"