Smaller Home…Larger Rewards
Diminutive Bungie
In the real estate section of the Saturday, March 26th edition of the National Post, the city’s smallest home (not sure how or who designated it as such) was featured again as it was up for sale again. It reminded me that I had planned to write a post about the benefits that a smaller home (perhaps not one as small as this) can provide for their owners, some obvious but others I’m sure most would overlook.
About two weeks ago I was walking home from visiting a restaurant on the Danforth and along the way met a neighbour from the street I live on. It was good to catch up on latest news from her end of the street and to hear that her husband and kids were all doing fine and that they were really happy that they just stayed in their home rather than “move-up” to a larger home.
She told me quite proudly and justly so that their mortgage was paid off and how good it felt to not have that kind of debt to deal with and the accompanying freedom of choice to do other things or increase their savings. As we continued walking and talking I asked about her children and was surpised at their age, time apparently does fly! They were now both teenagers.
As well we talked about the bouyant real estate market and it’s continued strong health in Riverdale and Toronto despite the blip in the fall of 2008 and she said they had considered moving from their 3 bedroom semi to a larger detached home but the street and neighbourhood were a major factor in staying put and their was a huge upside to the smaller home.
Smaller spaces can lead to unseen rewards.
What she realized as her children advanced in age, especially their teen years was that the intimacy of smaller spaces forces a family to be more aware of each other. It may be a little tough trying to have privacy but then again for some kids too much privacy can sometimes lead to too much trouble. Clearly it’s easier for parents to be a little more aware of what’s going on with their kids when they are not separated by three or four floors or ten rooms. For my neighbour this has been the unseen reward, a connected family with open dialogue, comfortable being close. All this from a smaller house? No doubt it works best with some great parenting skills!
Inspiration for today’s blog is courtesy of the Sunday, February 21 edition of the New York Times. I manipulated the title thinking that the standard cliche would grab more readers’ attention. This is an entrepreneurial success story about a couple in California that came up with an idea that really is right for our times. In fact a very low tech solution for a high tech world.
Their original idea in the late 90’s based on a notion that the world would soon purchase hordes of goods online turned out to be dead on. However, their original version of a secure mailbox/dropbox was the size of a microwave oven. Who knew that digitization would change the world so drastically that computers would go from cathode ray tube monitors to LED slices. They clearly saw how Amazon.com and the Shopping Channel would change how we shop but also the problem it presented. The dreaded “deliveries are made between 12:00 p.m. and 4:00 p.m., please have someone there to receive it” in which we are held captive to the whims of a driver, computerized delivery system, the weather or acts of God. What evolved was a company with a safe, sound proposition for modern times, a secure, weatherproof and tamperproof receptacle capable of holding high value small parcels and large mail anytime of day…no signature required. Clearly they had the captured the real “ah hah” moment. Freedom and peace-of-mind in a box!
The company name is Architectural Mailboxes and the Oasis model depicted above sells for $248.00 U.S. and is available at Lowe’s in Buffalo. They have a full line of very eye pleasing mailboxes in tradional and contemporary styles that you would rarely see in Toronto. Worth a look online.
What's on your porch…or lawn?
The title inspiration for this blog is two fold, the off-the wall and in your face Capital One bank card commercials with the call to action “What’s in your wallet?” which lead me to “What’s on your porch?” after viewing my own property on Google Street View and Wayne Coyne of the Flaming Lips debut on Street View.
Wow, using Street View is a real eye opener. Whatever you were doing, left outside on your lawn or on your porch is now and forever out there for the world to see. And that includes tech savvy buyers who diligently check out all the sources they can when doing their home searches. It’s an excellent way to see what the neighbourhood looks like, often times most candidly.
Listening to “Q” on CBC yesterday they mentioned Wayne Coyne from Flaming Lips captured by Street View sitting in a bathtub on his front lawn. There goes that neighbourhood!
In a world that has concerns about privacy clearly it’s an issue that is increasingly being taken out of our hands because of our most peculiar and contrary desire to have more access. Truly a bit of an oxymoron.
So I guess the moral of the story is to always look your best. Curb appeal counts. Big time! You may not be able to control what your neighbour’s do but you can certainly look after yourself.
And The Survey Says….
For those perhaps too young too remember, this phrase was a key element of a game show called Family Feud which when it premiered featured Richard Dawson as the host. Family Feud is an American television game show that pits two families against each other in a contest to name the most popular responses to a survey-type question posed to 100 people. The format, which originated in the United States, airs in numerous local formats worldwide.
The phrase sprang to mind recently when a neighbour came to my door and asked me to assist him in interpreting the survey of his property that he had aquired when he purchased his property. The reason he was asking for my assistance was because he was about to renovate and restore his semi-detached garage at the rear of his property. When he broached the issue with his adjoining neighbour a feud between the families erupted.
Basically the adjoining neighbour refuted the old survey and said that in fact my other neighbour was encroaching on his property and he would not permit any construction until he was proved wrong. My neighbour and friend asked me to review his documents which consisted of a survey, circa 1930′s along with a typewritten description of the metes and bounds of the plot of land showing the house but no other structures. I found it difficult to read and clarify the boundaries and in some cases the information seemed contadictory. I then logged on to our Toronto Real Estate Board site to check the Land Registry online which clarified the shape of the parcel initially sorting out the semi-detached garages documentation but also bringing up a new twist, the lot was stated as being 138 feet long versus 130 feet on the survey. The MPAC (Municipal Property Assessment Corporation) file as well showed the lot size as 138 feet in depth.
With this news my neighbour was clearly flustered and now thought that he might not only have all his land but might also be paying more taxes than he had to. Insult to injury. He then decided to have a new survey done in order to settle things with his neighbour on the assumption that with GPS and modern technology he would have accurate documentation to convince his neighbour to relingquish his “wrongful rights” to my neighbours property. The survey was done within a matter of days and proved that the adjoining neighbour had encroached on my neighbours property by about 6 inches (I think the foundationless structure had actually drifted on its own over time) and that the lot depth was actually 130 feet in depth as per the original survey.
Over the course of a two week period relationships had been bruised, tempers flared, time wasted and time lost. An encroachment is a large word for what is usually a very small or incidental thing, but sometimes not, that’s when it’s important to have a survey of your property, one that’s as recent as any of the major changes.
If you are buying a property insist that your realtor includes a clause in the offer for a survey or at least a copy of a survey, it just could come in handy someday, the least of which would be when you sell.
If there isn’t a survey consult with your realtor and your legal counsel for title insurance to protect you against claims against your property.
Tinker, Tailor, Soldier, Spy…
I wasn’t sure whether I should use the title of John LeCarre’s novel for the title of this post however I thought it would act like a bright shiny object and attract the eyes of readers much more so than “Realtor, Carpenter, Plumber, Cleaner”.
This is another chapter in my as yet unwritten ‘realtor slice of life’ story. And it’s all to do with listing and marketing of properties to present them in their best form. I have always considered that “god was in the details” and hence whether it was advertising or real estating (forgive the mangle) I’ve always had an eye for precision when it comes to presentation. In both businesses this works out great if one has ample supply of two critical components; time and money.
As one might suspect there are also two things that come into short supply when people wish to sell their properties, right? It goes something like this, “We have to list and sell within 30 days max, we just have to!” and, or “We are really tight on our budget and we don’t really want to put money into something we’re leaving behind.” It’s at this point as realtors we either have to stare them down and cajole them into finding more of both and a supplier to go with, or roll up our sleeves, jump into our coveralls and help them over the hump, in the spirit of “we’re in this together, aren’t we”.
I take people at their word and for the majority their retort is absolutely genuine, most are tight on their budget and understandably so. It’s why I personally go out of my way to help my clients where I can and I can do so because of my life experiences. Good and kind people, including my father showed me how to do stuff. I learned not always by doing but by always watching and paying very close attention to process and technique. The paying attention part I found was the most critical aspect of the learning because the opportunity to put it into practice invariably comes when one is on their own. No bailouts, no do-overs.
I have taken a great deal of personal satisfaction in a job well done for my clients that apart from the successful sale of their properties I was also able to supply my skills and equipment (numerous power and hand tools) to do these household and property fix-ups:
-Replace treads on stairs
-Install baseboards and crown moulding
-Apply new framing to doors
-Replace decking and railings
-Tiling and grouting of bathroom floors
-Repair dripping faucets, leaking plumbing, seals on toilets
-Install lighting, replace faulty switches
-Recut interior doors to fit properly
-Drywall repair and painting
-Install drapery (hemmed it too!)
-Lay sod and paving stone
-and I’m sure I will remember more after I post this…
And along with the aforementioned skills of dexterity I have also been blessed by having a sense for eye pleasing design and layout thanks to my years as an advertising and promotional marketing professional. These allow me, with a fair degree of comfort to counsel my clients on room layout, pedestrian flow and the points to be emphasized in their homes to maximize the overall experience for prospective buyers.
I feel good that my life experiences have helped me to help my clients and my friends too.
Highest and Best Use
Today I was reviewing in my mind the next steps to take with a client who is considering listing his property for sale in a live/work condo that I have had listings in over the last few years and it hit me that there were some definite comedic or humourous overtones to the word “highest” associated with this building.
My first exposure to the building was in 2005 when I was introduced to a very tall single gentleman, a working actor that had speculated on a new construction, actually a retrofit, 1 bedroom apartment which he now wanted to flip after registration.
We seemed to hit it off. He was a detail kind of guy and of course as a former agency client services director details were second nature to me. Our next meeting was at his apartment in order that I could properly evaluate the property and get a sense of who would be the best target group and obtain a signed listing agreement. It was at this time that I discovered that the soon-to-be client had with finite and meticulous detail had the builder customize both the kitchen and the bathroom cabinetry to a counter height of 41 1/2 inches to suit his height. He absolutely beamed at how well it turned out and the comfort that it provided him.
To put this in context, the standard counter height is 36 inches, his tops were almost a half foot higher. Wishing not to injure his pride I tactfully mentioned that the cabinet height could have an impact on not only who but also how many people might find it acceptable without wishing to discount the price. He shrugged off the thought and I with some trepidation took the listing and started to market the property.
There are some few true axioms in real estate, i.e. location, location, location and right up there with that is “highest and best use” which simply means the property’s highest value can be obtained when it is purposed for its best use. This building on Yonge Street is a live/work building featuring retail on the ground level and a mix of residential and professional suites on the second and third level. Walking by it on the street one simply thinks it’s a professional building. Given that this suite was on the second floor where the majority of professional suites were located clearly our best shot was to target live/work professionals not withstanding that as a residence it offered a prime location and quality interior finishes in the unit.
It wasn’t long on the market after a few open houses and showings that I discovered the quirky nature of the cabinetry was an issue with most people, and the female gender in particular were aghast. I recall one time I was working an open house there and when no one was present I tried lifting a pot from one burner to another on the stove. I’m an average height, I think I’m 5′ 10′ / 185 cm and I found the motion extremely awkward, like holding your arm out straight with the pot in your grip, in fact a lttle tortuous. Instanly I empathized with anyone shorter than I regardless of gender.
Given my creative nature and Scottish perseverance I decided to renew my marketing efforts and strike out on two fronts to find a buyer through some different advertising and promotion. I decided to directly target two groups; medical professionals (there were three in the building already) and tall people. I wrote the copy for an ad to run in medical journals and a promotional leaflet for ambush marketing to reach tall people, noteably members of the Tall Club of Toronto.
Medical Journals Ad
Promotional Leaflet
The best part of this story is the irony of the outcome. The ambush marketing was the first to be tried. I hired an attractive young woman, close to 6 feet tall who along with a friend of hers went off to intercept members of the Tall Club at one of their monthly meetings at a Firkin pub on Yonge Street. As it turned out it was a low turnout that evening and although members graciously accepted the handout and thought the bonus of offering $250 donation to the Canadian Marfan Association (The Tall Club’s Charity) should a member of the club purchase the property, no interest was generated. Lesson learned, the target group was too small, excuse the pun, not in stature but in number.
The next foray was targetted at medical professionals; MDs, dentists, chiropractors in the local area. The ad did not run in magazine but was placed in foyers of medical and professional buildings bulletin and information boards. I cannot however in recollection attribute a prospective inquiry to the ad. However, the buyer turned out in fact to be a psychiatrist who had come by chance to an open house.
For the doctor this unit was a perfect fit. A great location, a good price and a perfect size for his practice. What had escaped me prior to the introspection which propelled me to write this is that the doctor was at least one foot shorter than the seller! Proving that size, in terms of height at least isn’t everything nor a deal breaker.
An MLS Listing – It's Advertising
I’ve come to the conclusion that most realtors and certainly consumers don’t appreciate that a ‘listing’ is an ad. In fact it’s a trade advertisment and in the City of Toronto the ad is published by the Toronto Real Estate Board on their website.
You are probably asking “So what’s the big deal with that?”. There are a few issues, some of which are sublime and not so, with serious implications, then there are the ridiculous, at least from my point of view.
Having spent over twenty years in the advertising and promotion business prior to my second career as a realtor I became highly sensitive and attentive to “truth in advertising”, which is the serious and not to be fooled with aspect and then there is the ridiculous which from my observations of the Toronto MLS system is a minefield of typos, mangles and errors foisted upon the reader by the writer, aka, the sales representative.
When I get to thinking about MLS listings (ads) in retrospect, I believe that real estate sales representatives were probably the front line of the message massagers who we now call ‘spin doctors’. Little did I realize when I was considering the real estate profession that I would be joining an elite squad of writers and publicists! Of course it should be noted that the main thrust of the majority of the advertising copy they (please note I did not say we) created was and is founded in the celebration of hyperbole as substance.
Because an MLS listing is an advertisement it falls under two levels of jurisprudence, the Competition Act from the federal level in Ottawa, and the Real Estate and Business Broker Act of Ontario both of which bodies should one be found guilty of a transgression can fine for civil offences and federally can jail in criminal cases the truth stretchers. Corporations are highly sensitive to litigation and hence for the majority “truth in advertising” is the watchword which was drummed into me by MacLaren Advertising and General Motors at the onset of my first career. No shading, shaping allowed! Which is why I like to write my ads (my listings) to the point, and hopefully clever without obfuscation. It is a serious undertaking that a realtor relies on and in so doing their client (the consumer) does as well and guilding the lily is not acceptable especially if it misrepresents facts or clouds the existence of defects.
Then of course there is what I find to be the humourous perhaps not always intended gaffs created in MLS listings on a daily basis that for some reason aren’t considered by some realtors as a ‘big deal’. After all it’s just a listing. Here are a few that you might find interesting:
“Quaint Elegant Starter Home Has Been Touched W/Sophisticated Updates Thought Out!”
“Both Clients Are Out Of Town On Staggerd Dates.”
“Suited For Daily Life And Glamarous Entertaining”
Maybe it’s just my somewhat jaundiced sense of humour when it comes to copywriting but coming across these tidbits does after an initial OMG does kind of give me a giggle. Some of the simple typos might be caught if the software in our MLS system had spell check but for the most part what flies by and into the internet forever is simply the fact that most people don’t proofread. Of course as you can see by the sampling above that it may also take a little more than proofreading to correct.
Brydon-Harris
Part of the morning ritual for a working realtor is to check the dailies for what’s come on the market the day before and to see what’s on the open house list for the day. Invariably certain properties catch one’s eye for some reason or another and it leads to checking out the pictures for the listing.
This morning I happened upon another “newly renovated” property; we don’t often talk about “old renovations” although we do date them, e.g. renovated 2001; and as I clicked through the shots of glistening marble, tumbled backsplashes, dark stained cabinetry and other buyer delicious finishes, there it was as bold as spinners on a Cadillac SUV….the new toilet… gaping, seat up, open for my visual inspection.
It’s not really TMI but I don’t really need to see the functional aspects of a toilet, especially as the primary focus of the pictorial composition. Strangely enough this happens a lot and it happens to some very well known realtors not just the newbies. And just so you don’t think I am a ‘hole-ier’ than thou type, I’ve been caught once.
Sometimes this happens because we’re pushed for time and the photographer arrives and we haven’t been able to detail the property ahead of them. The photographers are on a tight timeline and tight budget, it’s shoot and run. Most are good and if they notice the seat up will drop it down but I sometimes think that there just may be a photographers’ conspiracy to get even with pushy, arrogant, self-centred realtors who treat them like ‘s-it’. So in my view I don’t see this as photographers having a crappy attitude more so simply a fitting gesture on their part, perhaps their equivalent of the single finger salute!
Brydon-Harris
When I am on the street or in restaurants in my neighbourhood where those who know me frequent as well, I am often asked “What did (address) sell for? This question is a double edged sword. If you don’t know, then you’re not the local expert and if you do know then you feel compelled to add a little colour to the commentary, i.e. add some value to the straight reportage of fact, why so much, who would pay that, the list goes on.
So, as a realtor, if you wish to be the consummate professional, you can’t blithely and nonchalantly be visible in the neighbourhood without being up-to-date and ready to report, opine or forecast. There are no days off but a holiday out of country may be sufficient excuse to “have not seen it” or “missed the agent open house” to qualify as reasonable diversionary responses for not knowing. For total avoidance, use of disguises or dressing totally out of character might deter those who think they recognize you, but it is more work than I’m willing to invest for anonymity.
The truth is I really don’t mind people asking me. For most of us our home represents a major asset and for many the largest and only asset so I can understand the reason I’m asked. As homeowners the more informed we are the better we are able to make good decisions. A realtor that is also a neighbour is an excellent source of information especially as values are heavily skewed to location, local knowledge is hugely important. Locality and of course location is a key determinant, especially so for Riverdale. It more so than any other district has avoided price drops of any significance. The stories are true; many properties in the last few months have gone for over the asking price.
That’s a testament to affordable mortgaging, pent up demand and location, location, location.
Brydon-Harris
Why Are They Selling?
This is the most often asked question I receive from visitors at my open houses. I sometimes, though rarely ask of them…“Why do you want to know? Of course when I do that most are taken aback, I suspect because they think I should be forthcoming and that I have something to hide.
The real reason of course is that I have duties that are owed to my client by contract, one of which is confidentiality. The following is excerpted from the “Working with a Realtor” brochure and is a summary of legislation from the Real Estate and Business Brokers Act, 2002, Part VII General, Confidentiality, 44. (1). This is the Act that governs our industry.
“Confidences a seller shares with a seller’s agent must be kept confidential from potential buyers and others.
Although confidential information about the seller cannot be discussed, a buyer working with a seller’s agent can expect fair and honest service from the seller’s agent and disclosure of pertinent information about the property.”
I’ve kind of boiled the “Why are the selling?” question down to what I assume are two basic assumptions by the buyer that prompt it: There’s something wrong with the house and they want to dump it OR they’ve got personal or financial problems and have to sell it. Both of which I think they think would provide them with the upper hand in negotiating a deal in their favour. Clearly the old axiom of “caveat emptor” i.e. buyer beware, is highly ingrained in their mind.
For the most part, Seller’s are just moving on. New jobs, more kids, closer to family and many more reasons both logical and sometimes illogical are the motivation. Of course there are those that wish to reduce their debt burden, have marital problems and sell their properties. But it’s not a reality TV show, it’s a Seller’s personal business and privacy is their due, unless they dictate to their realtor otherwise.
Those that are skeptical about a Seller’s motivation to sell that they feel has something to do with the property have the opportunity to avail themselves of information through public records, and when acting as a legitimate Buyer can access the Seller Property Information Sheet (disclosure obtained by realtors listing the property), conduct a home inspection by a certified practitioner, or conduct air quality tests for noxious gases and materials. Even occurrences like a home that has been traumatized by violence, used as a grow-op, that might not have been disclosed can also be checked through contacting the police department division in the neighbourhood.
With a knowledgeable and experienced realtor working on one’s behalf as a buyer agent you have the ability to get a great deal of information to permit you to make an informed decision to purchase.
Brydon-Harris
