Mortgage Broker vs Mortgage Specialist: What’s the Difference?

, ,

To most consumers, the terms “mortgage broker” and “mortgage specialist” would seem interchangeable – but they aren’t. As a potential homeowner and borrower, the differences are more important than you might think.

First and foremost, it is important to understand that mortgage brokers belong to an independent firm. This allows them unique access to rates and offers from various lenders (banks, credit unions, private lenders and alternative options). Conversely, a mortgage specialist is employed by a single lender and works to sell that particular institution’s products.

BENEFITS OF WORKING WITH A MORTGAGE BROKER

  1. MORTGAGE BROKERS WORK FOR YOU!

Unlike a mortgage specialist, who is paid by the bank to sell their products, a broker works for YOU! A broker works as a link between you and the lender; they filter through the offerings to find you the best rate and product. The best part? A mortgage broker’s services are FREE to the consumer! Brokers are paid by the lender of choice once the ideal mortgage product has been found. This means you get to utilize their expert advice and lender access at no cost!

  1. MORTGAGE BROKERS CARE FOR THEIR CLIENTS

Mortgage brokers care for their clients, not only because they work for YOU but also because most brokers are self-employed, and rely on referrals and repeat business. As a majority of their business is done through word-of-mouth, this results in the best experience for clients. Every mortgage broker is motivated to help you achieve your dream of home ownership!

  1. MORTGAGE BROKERS ARE LICENSED PROFESSIONALS!

It might surprise you to know that mortgage and bank specialists are not required to have any formal training. While some lenders do provide in-house training, this varies from the provincially regulated course that mortgage brokers are required to pass. Mortgage brokers also continue to maintain their education through license renewals and educational courses. As a result, a mortgage broker provides expert advice you can trust!

  1. MORTGAGE BROKERS HAVE GREATER ACCESS TO RATES

A mortgage broker is employed by an independent firm and has access to 90+ lenders, while a mortgage specialist can only access their particular lenders’ products. This can mean a big difference in rates and mortgage terms for homeowners! If you are looking at getting a mortgage with your bank (say Bank X), then your mortgage specialist can tell you exactly what Bank X offers. But, by seeking the advice of a mortgage broker, they can tell you what Bank X offers… as well as your options with Bank Y, Bank Z, Bank A, etc. When you are looking for the best mortgage product to fit your unique needs, more options to choose from just makes sense!

  1. MORTGAGE BROKERS FOCUS ON MORTGAGES

When it comes to mortgage brokers, all they do is mortgages; they live and breathe home ownership! Mortgage specialists and bank staff are often trained with a focus on cross-selling. While you may have booked an appointment to discuss a mortgage, many times they will focus on other bank products. This might include offering credit cards, insurance, RRSP’s, lines of credit, etc. This can sometimes be helpful, but many potential homeowners may find it overwhelming or pushy; especially when they are specifically looking for a single product – a mortgage.

  1. MORTGAGE BROKERS OFFER FLEXIBLE HOURS

Most banks don’t offer great business hours, which can make it hard to book an appointment with a specialist. As many mortgage brokers are self-employed, they are motivated to assist clients. This means they are often available for appointments outside of business hours such as evenings or weekends. This can be especially comforting to individuals who are new to the mortgage process and may have questions or concerns that they would prefer to have answered right away.

/by

Meet the Realtor: Rina DiRisio

, ,

 

Can you think back to when you first started your real estate career….  What attracted you to this business and how did you get started?  

I loved looking at houses for sale and browsing through The Oakville Beaver’s real estate page. My now husband sold real estate while we were in University together. I was intrigued by his success and loved the idea of running my own business.

 

You obviously take great pride in your work.  What is it that makes you so passionate about what you do? 

I love the action. I love the fast pace and that things are always changing in this industry. Every real estate transaction is different – different people in different life stages and different circumstances, and obviously, needing different solutions to their needs. I love being the one that helps people through this buying and selling process and providing valuable guidance and insight.

 

Is there a particular area you specialize in, either in terms of neighbourhoods, or types of homes, or perhaps the type of clients you like to work with? 

Oakville and Burlington. My clients are so widespread across the GTA now that I often need to specialize in multiple neighbourhoods and even cities. I make it my business to know every neighbourhood and every street. 

 

You have been a member of the elite National Chairman’s Club with Royal LePage for many years now.   In such a competitive business, with so many realtors, what do you offer your clients that you think has contributed to your success? 

They trust me. They know that, first and foremost, I always have their best interests at heart. I am more interested in life-long relationships with my clients, rather than just one transaction. A client told me once that everyone needs a good doctor, a good lawyer, and a good real estate agent – someone to always take care of you.

/by

Start Your Own Veggie Garden Indoors

, , , , ,

By Julie Achtermeier

 

There’s no question we’ve hit the doldrums of winter, but on the positive side, spring is just around the corner. The days are getting longer, and before you know it, we’ll be ready to head out into the gardens. If you’re planning to grow your vegetables this season, start now with seeds and enjoy your gardening practice early.

 

What to grow?

Decide what plants you would like to grow this year and do a little research. Consider the size of your gardens and how much space each plant will need. For example, planting watermelons in a small garden will crowd out other plants. Zucchini requires several plants to germinate and spreads out horizontally, so you will need a larger area. If space is a challenge, focus on taller plants rather than ground crawlers. Try green beans or cherry tomatoes, which tend to grow tall rather than spread out.

 

Choose a location indoors

Seeds are usually sown indoors about six to eight weeks before the last frost of the season. You will need a location with good natural light, like a sunroom, or purchase grow lights from a hardware or gardening store. If you are ambitious, you may also want to consider buying an indoor pop-up greenhouse. An indoor greenhouse consists of shelves inside a zip-up plastic enclosure that traps heat and humidity to provide a prime environment for growing seeds. They are relatively small, and most will sit out of the way in a corner.

 

Prepare your soil

The process of planting does not have to be expensive or complicated. Egg cartons work well as starter pots. Be sure to label them, so it doesn’t become a mystery garden unless you like to live on the wild side. It is recommended you plant seeds in a soilless peat moss mixed with equal parts vermiculite and perlite. This mix is lighter than potting soil, which can be too dense for the delicate seedling roots. You can also purchase ready-to-use pre-formed seed starters to keep the operation simple. Moisten the soil with warm water and follow the directions on the seed packets for planting.

 

 

Caring for your baby plants

Once planted, your new seeds will need to be covered to stay warm and moist. You can use a seed tray cover or plastic wrap. Move them to a location out of direct sunlight in a warm room. Ideally, the bottom of the seed tray should stay warm so you can use a heating mat (purchased from any gardening store) or place the tray on top of the refrigerator. Once germination has occurred, remove the cover and place in a location with bright light. You can also purchase a grow light if natural light is an issue. The seeds should be fertilized once a week with an organic liquid fertilizer to keep the roots and stalks healthy as they grow.

 

Transferring your seedlings

When your new seedling stems begin to grow additional leaves, it’s time to transfer them into larger containers with potting mix and compost. Most garden centers sell an organic potting mix for vegetables, which contains the correct balance of nutrients for food-producing plants. Carefully move each seedling into their new pot filled with soil, and then water well. Keep your seedlings in a well-lit area out of direct sunlight. The seedlings are delicate and need time to get used to their new pots and soil. Check daily to ensure the soil does not dry out but be careful not to overwater. Once the threat of frost has passed and the seedlings are well-established, you can plant them directly in the garden or in pots to take outside.

 

/by

MARKET UPDATE – BURLINGTON

,
/by

Meet the Realtor: Luke O’Reilly

, ,

How long have you been working in real estate?

I just celebrated my 10 year anniversary in October 2020 – time flies!

What attracted you to this business and how did you get started?

Real estate is in my blood. My family has been in the industry for decades, and I have always been drawn to the business from a very young age. After university, I had the great opportunity to join the family business, and had
excellent mentors, which helped me further my education and learn the ins and outs of the industry.

What is it that makes you so passionate about what you do?

Every day is exciting and new, which keeps things very interesting. I have had some
amazing clients over the years, which has made this career really enjoyable – many of these clients have turned into good friends. I love being an integral part of transitional periods in my clients’ lives, and helping these transitions (which can be stressful for some) go as smoothly as possible. I enjoy integrating new technologies and strategies to market my clients’ homes. Treating each transaction and situation as though I’m handling my own personal asset is the way I approach each client and situation.

Is there a particular area you specialize in, either in terms of neighbourhoods, or types of homes, or perhaps the type of clients you like to work with?

I work with all different price ranges, but focus primarily on Burlington, Hamilton (and its many communities), and Haldimand County.

You are one of the Top 35 Realtors under the age of 35 with Royal LePage, and have been for several years now!  In such a competitive market, with so many realtors, what do you offer your clients that you think makes a difference?

I am grateful for the recognition, and for the trust my clients have placed in me.  It’s hard to put your finger on any one thing other than a lot of hard work, but I would list the following:

· personalized and first-class service

· having a small team of hand-picked professionals

· using cutting edge technology to
market listings

· investing in a diversified marketing
strategy to maximize exposure

· a results driven approach

· and a connection with my clients by genuinely caring about their best interests.

/by

Real Estate Trends for 2021: Halton Region

, , ,
Written By: Julie Achtermeier 

In 2020, real estate was among a short list of sectors that saw tremendous growth in the second half of the year after initial lockdowns due to Covid-19 put a halt on most activity in the spring. As people adjusted to working-from-home, the desire to move outside the city to a suburban landscape with larger yards and a bigger floor plan allowed the market in Halton to rebound. By the fourth quarter of 2020, agents were dealing with multiple offers and record-breaking sales numbers.

 

George Niblock from Royal LePage Real Estate Services said December 2020 was his busiest to date, ending up with an increase in sales of 28 percent over the previous year. “I listed many properties in December right before Christmas, which is something I rarely do,” says George. “The demand was much higher since people weren’t taking time off to attend parties or gatherings as they normally would. Buyers stayed focused on buying right through the holidays.”

 

“People remain focused on making a move outside the city,” explains George. “They have adjusted to the work-from-home lifestyle as well as the various restrictions and changes and are ready to expand their living space. Clients who are making appointments are serious buyers.”

 

George explains that the sales process has become easier than during the first lockdown in March of 2020, with appointments booked through an app and Covid-19 assessment forms sent via email automatically. “We are still doing many virtual open houses, and buyers are doing their research online, so they are more qualified by the time we’re booking an appointment to see a house.”

 

What remains a challenge for buyers is the lack of inventory, which has become even more pronounced in 2021. As many people choose to move outside the city, those in the outskirts are choosing to stay put, dedicating their investment to renovations instead.

 

“The first month of the year is typically a quiet ramping up,” says Deborah Brown from RE/MAX Escarpment Realty. “But this year, we are already experiencing record-high demand and record-low supply.” Deborah describes December as traditionally a ‘planning’ month, where they prepare for the upcoming year, but this past year, she was out with buyers right through the holiday season.

 

The lack of inventory is also responsible for pushing prices higher, making home buying for first-time homebuyers more challenging. In many cases, young adults have opted-out of their city condos to move back in with their parents. The result is an increased demand for homes with rental apartments or in-law suites.

 

“The biggest demand is for detached homes,” explains Deborah. “Buyers are looking for more space as well as separate living quarters for younger or older family members.” And while the trend for larger homes soars, Deborah continues to see what she describes as the “move over buyers” who migrate from urban to suburban living – spending their money on more robust living space instead of life in the big city.

 

By the end of 2020, the market had rebounded to record levels, with average prices across the GTA and southern Ontario at record highs and the number of available listings at record lows. With the first month of the year already behind us, the industry shows no sign of slowing down. Sellers continue to benefit from the enormous windfall, and buyers must prepare themselves for bidding wars and making offers on multiple homes before finding the right one. Patience may be a skill that buyers need heading into the 2021 real estate market, but it is also an exciting time for them to redefine what “home” means. And, while we can’t predict what the rest of 2021 will look like, there are no obvious slow seasons in sight. It’s only full steam ahead.

 

/by

Creating a Quiet Nook

, , ,
By Julie Achtermeier

Over the past twelve months of lockdowns, restrictions, working from home and schooling from home, the “home” itself has become more than just a landing place. It is where we have three meals a day, work, spend our downtime, and even work out. Whether you are a family of one, two, four or more, most of us have found the year in close quarters to be, well, close.

Every day it becomes more apparent that our mental health is being affected by a year of stress, worry, and restrictions due to the global pandemic. Some days we must dig deep to keep ourselves healthy, mentally and physically. Carving out a new wellness space is a great way to take care of you and your family’s mental health and provide a much-needed escape from the daily routine. The key to remember is that this is for some alone time, so an investment in furniture will be minimal.

Find the Ideal Spot

If you have a family like mine (two teenagers, a husband and a dog), you may have searched for somewhere to escape once or twice over the past year. The key to finding a quiet nook isn’t just about finding extra space. The goal is to find an area of the house that’s quiet and off the beaten path. A cozy reading chair in the family room isn’t going to give you any peace if someone’s watching a hockey game.

Since the area is for one person, only a small space is required. A landing, corner of a bedroom or even a walk-in closet can become a peaceful haven once you re-designate its usage. If space is a challenge, think of unconventional areas like the foyer, an entranceway or even a mudroom. The best way to start is to survey your home and see if your current layout and function suit today’s needs.

For example, in my house, we have a small dining area that had become nothing more than a place to throw papers, homework and mail. We asked ourselves: Is this the best use of this space, given we will not be entertaining anytime soon? We removed the dining set and made the area a second office, moving my writing desk out of the master bedroom. With a now-free corner of the bedroom, we created a quiet place for anyone to use when they need a little recharge. Not only did this create a quiet nook, but it also took “work” out of the bedroom, helping me get a better night’s sleep.

Keep Decor Minimal

Once you have chosen your spot, decorate with one comfortable chair and a calm motif. If you’re looking for a more significant project, you could repaint the walls and change the lighting, but this renovation can be low maintenance and inexpensive for quick results. Keep in mind the functionality of the space and only add items that will enhance the experience. A painting with a peaceful scene, a crocheted blanket, a small table with a reading light, and an essential oil diffuser are all enjoyable items you can add. It could also function as an area to meditate by adding a floor cushion, a salt lamp or some candles. Keep the area clutter-free and set a rule that whoever uses the space, takes their book, computer, teacup or any other items with them when they leave.

The goal is to help you recharge, not become another area to clean.

Set the Mood

This quiet space can be somewhere to close your eyes and rest, or a place to retreat with a good book and glass of wine. No matter how you spend your time here, set the mood first by ensuring your family knows this is your uninterrupted quiet time. Get comfortable and take three big breaths to indicate to your body and mind that you are now slowing down. Avoid bringing work to this area and keep the focus on rest and relaxation.

If in doubt, keep calm and carry on.

/by

Meet the Realtors: Kevin & Tina Girard

, ,

How long have you been working in real estate?

We have been licensed Realtors for almost 10 years, but we have been real estate investors for 17 years. Tina and I have been together for 18 years and one thing we have always had in common is our love for real estate, and we have been involved in all aspects of the industry since that time. Tina’s father has been a Realtor for over 30 years and encouraged us to enter the sales side of the business – one of the best decisions we have ever made … aside from the time Tina said, “I do!” (Ha)

What is it that makes you so passionate about what you do?

We are passionate about what we do because we love it! We don’t consider real estate to be a job, it is just something that has always been a part of our lives. Real estate is someone’s most valuable asset and we take great pride in the level of trust and confidence that our clients place with us every time they allow us to represent their best interests.

What attracted you to this business?

Both of our careers before real estate were in the communication, marketing, advertising and technology fields. We were already buying, selling and investing in properties for ourselves, and we love working with people. We also recognized areas of the industry that we felt needed improvement. So, it eventually became a natural progression to get into sales and utilize all of our skills to help our clients reach their real estate goals.  

Is there a particular area you specialize in, either in terms of neighbourhoods, or types of homes, or perhaps the type of clients you like to work with?

We build our business based on trusted referrals. Our business model is to do such a good job for our clients that they want to tell all of their family and friends. Our clients often become our lifetime friends and acquaintances, and we want to be their trusted partner in real estate no matter what type of property they are selling or where in our great city it is located. If you look at our portfolio of sales, you will find that we have experience in all areas: from multi-million dollar estate homes to first time buyer townhomes and condominiums. We have also owned and sold multi-residential apartment buildings and commercial or industrial properties.

In such a competitive market, with so many realtors, what do you offer your clients that you think makes a difference?

We believe we have the most comprehensive digital and print marketing package available in the industry. We utilize our years of corporate experience in marketing and advertising, as well as advanced technologies to expose our listings to the widest audience possible, all while studying analytics to focus our efforts on areas with the highest levels of interest. Our buyers can rest assured that we have strong negotiation, communication and customer service skills as well as up-to-date expertise in current market trends. We would love a seat at the kitchen table (or Zoom screen) to demonstrate how we can make a difference!

/by

Meet the Realtors: Jo-Anne Copeland & Scott Russell

, ,

Can you tell us about your background and experience in real estate?

We have been selling Real Estate for over a decade now. We first started with the Prudential Office at Oakville Towne Centre, which was a lovely “boutique” environment much like the one we have built at our Engel & Völkers office in Downtown Oakville.

What is it that makes you so passionate about what you do?

We take great pride in the relationships we have built over the years with friends, families and clients alike, and we are passionate about helping clients navigate through the journey of selling and/or buying a home which can often be a stressful process.  Nothing is more satisfying than hearing clients say they were filled with angst at the outset, and in the end commenting that the professionalism and care given made the experience an enjoyable one.

What was the motivation behind you choosing to open the Engel & Volkers office in Oakville?

Owning a Real Estate Brokerage was not on the radar for either one of us, until we were introduced to Engel & Völkers. After some initial research, we felt compelled to hop on a plane and head to the Americas headquarters on Park Avenue in NYC where we were greeted by no doubt the best in the business worldwide! Meeting Anthony Hitt, our CEO, sealed the deal for us.  Anthony credits his business and real estate success to his philosophy of providing exceptionally personal customer care and constantly implementing the most up-to-date systems for efficiency and comprehensive service.  The fit was undeniable, we forged ahead and here we are.

As soon as we touched down in Toronto, the first call we made was to Ruthanne Smith.  Ruthanne is our Director of Operations and the “Mother Bear” to all of us at Engel & Völkers Oakville!

Does Engel & Volkers offer home sellers and home buyers tools and advantages that other brokerages in this area do not offer?

The team that leads Engel & Völkers is made up of people who have been Realtors and heads of other Real Estate companies in the past, so they know the tools our buyer and seller clients demand and deserve.  Some of the tools include GG Magazine, syndication of listings to domestic and global real estate web sites that combined generate approximately 10 billion visitors annually, strong and consistent brand marketing and standards, and a referral network of over 11,000 real estate professionals in over 30 countries around the world.

In such a competitive market, with so many realtors and brokerages, what do you offer your clients that you think makes a difference?

Our advisors dedicate the expertise, time and unmatched marketing resources we possess to help sell homes to the right buyer at the right price.  Working with an Engel & Völkers advisor gives sellers the EDGE that affords each listing extensive online exposure – an expectation of today’s savvy consumers and international clientele.  With our global network of real estate professionals, we not only reach millions of targeted consumers, but are able to collaborate with our fellow Engel & Völkers advisors world wide to strategically handpick and refer buyers for the specific properties they seek.

/by

MARKET UPDATE – BURLINGTON

,
/by