Featured Alumnus: Jodie McNabb

 

 

Being patient and sensitive to other people’s needs and situations are important traits for real estate professionals. These traits are what garnered Jodie McNabb a new moniker from one of her clients.

We invite you to join the College Alumni Program and read Jodie’s profile to discover the what and the why of her new moniker. Jodie, a salesperson with Century 21 Choice Realty Inc., is the featured alumnus for March.

The Alumni Program has a dedicated, members-only website that features:

•  information on networking events; the next event will be held at OREA on May 18

•  factsheets on select topics; the most recent is Marketing Techniques, which highlights the four marketing – Product, Promotion, Price, Place

•  links to real-estate specific media; the most recent is the article published in the March issue of Edge entitled “Time flies: Organizing your day”

•  discussion boards

•  free audio podcasts

You must be a graduate of OREA Real Estate College and a member of OREA to join the Alumni Program. To join, go to http://bit.ly/1IryRuO.

 

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Featured Alumnus: Jodie McNabb

Unregistered Persons: DOs and DON’Ts

Whether you refer to them as unregistered persons (Real Estate and Business Brokers Act, 2002) or unregistered assistants (in real estate practice), individuals not registered with RECO as either brokers or salespeople are limited in the scope of activities permitted and must not perform any task that generally falls under the definition of a trade.

According to REBBA 2002, trade includes a disposition or acquisition of or transaction in real estate by sale, purchase, agreement for purchase and sale, exchange, option, lease, rental or otherwise and any offer or attempt to list real estate for the purpose of such a disposition, acquisition or transaction, and any act, advertisement, conduct or negotiation, directly or indirectly, in furtherance of any disposition, acquisition, transaction, offer or attempt, and the verb “trade” has a corresponding meaning.

Following is a list of what unregistered assistants are permitted (DOs) and not permitted (DON’Ts) to perform.

Unregistered Assistant DOs:

•  Submit listings and changes to the Multiple Listing Service®

•  Schedule appointments for registrants to show listed properties

•  Type contract forms

•  Place ‘For Sale’ signs on property on behalf of registrants

•  Distribute listing information to the public

•  Prepare and produce promotional material

•  Install lockboxes

•  Set up listing files, take photos of listings, complete fact sheets and deliver them to properties

•  Deliver documents and pick up keys

The above is not an exhaustive list.

Unregistered Assistant DON’Ts:

•  Conduct open houses or property showings

•  Make cold calls (even if it’s on behalf of a salesperson/broker)

•  Attend listing or sales presentation (unless accompanied by a registrant)

•  Negotiate purchase contracts, listing contracts, rental agreements, or leases

•  Negotiate agreements involving commission, commission split, management fees, or referral fees on behalf of registrants

 

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Unregistered Persons: DOs and DON’Ts

Career Night Retrospective

It’s been nearly six years since OREA Real Estate College began hosting its successful career nights, free fact-filled events that provide prospective students with information on how to become real estate professionals.

Only one career night, in Don Mills, was held that first year in 2010. Since then, the College has hosted 42 career nights attended by nearly 5,000 prospective students in a variety of locations across Ontario.

Career nights also provide prospective students with the opportunity to ask questions of the presenters, OREA curriculum staff and experienced instructors who are also successful practising REALTORS®, and showcase the many career opportunities in real estate, such as commercial sales and leasing, rural/agricultural sales, and property management.

The first career night of 2016 will be held in Brampton on March 23. The complete 2016 schedule is shown below. Sessions run from 6:30 p.m. to 8:30 p.m.

Why a real estate career?

A career in real estate offers many opportunities and possibilities, such as:

•  the ability to work independently

•  flexible hours

•  unlimited income potential

•  variety – as in there’s more to real estate than residential resale

Career Night flyers are posted via community newspapers, at high schools, and on college and university campuses.

To register, go to http://bit.ly/1SLbrnE.

 

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Career Night Retrospective

Program change will boost student knowledge

OREA and Real Estate Council of Ontario (RECO) have been collaborating on a strategy that will boost the knowledge of students completing the pre-registration segment of the Salesperson Registration Education Program.

Students enrolling on or after April 1, 2016, will be required to complete five mandatory courses in the pre-registration segment instead of three. This strategy will ensure that students are better prepared to trade in real estate upon obtaining their initial registration with RECO.

The five courses must be completed in sequence, as follows: Real Estate as a Professional Career; Land, Structures and Real Estate Trading; The Real Estate Transaction—General & The Residential Real Estate Transaction; The Commercial Real Estate Transaction; and Real Property Law. The timeline for completion (18 months) will remain the same.

In the Articling segment, students will be required to complete one elective course within the two-year timeframe. The electives from which students can choose are: Principles of Appraisal; Principles of Mortgage Financing; Principles of Property Management; and Real Estate Investment Analysis.

This change will not affect students who enrolled in the program on or before March 31, 2016.

Course requirements for the Broker Registration Education Program remain the same.

Course fee increase 

Fees for courses in the Salesperson Registration Education Program and the Broker Registration Education Program will increase for students enrolling on or after April 1, 2016.

The new fee schedule is listed on http://bit.ly/1nY9e0l.

Educational Services Agreement extended

RECO has extended the Educational Services Agreement (ESA) with OREA to December 31, 2020. The ESA makes OREA Real Estate College the designate authorized to deliver the Salesperson Registration Education Program and the Broker Registration Education Program in Ontario.

The extension of this contract will allow for an 18-month transition period between the current program and the new program, expected to launch in 2019 following a thorough review of registration education by RECO.

 

 

 

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Program change will boost student knowledge

Featured Alumnus: Jim Datlen

Jim Datlen has always been in the ‘service’ profession.

First, it was the restaurant industry when he was still in high school; then it was the hotel industry for nearly 25 years. Today, he’s a broker for Century 21 Millennium, Brampton, the only place he’s worked since becoming registered as a salesperson in 2007.

Although Jim had been thinking of a career change for a few years, something happened that prompted him to make the move. To discover what happened to Jim that spurred him to switch professions, we invite you to join the College Alumni Program and read Jim’s profile in the featured alumni section.

The alumni program has a dedicated, members-only website that includes features:

•  discussion boards; most recent discussion board is Share your top 3 open house tips

•  links to real-estate specific media

•  online members’ directory

•  free audio podcasts; most recent topics include—Being Responsible for Your Success, Choosing the ‘Right’ Brokerage, and How to Build a Successful Real Estate Team

•  factsheets on select topics (e.g., what to include in a listing presentation, successful negotiation tips, and top 10 reasons consumers should hire a REALTOR®)

The website also features networking events where members can reconnect with old classmates and instructors, and meet new colleagues. The next event is on May 18, 2016.

To join the Alumni Program, go to http://bit.ly/1IryRuO. Please note: you must be a graduate of OREA Real Estate College and a member of OREA to join.

 

 

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Featured Alumnus: Jim Datlen

Featured Alumnus: Natalie Svadjian

Interacting with different people on a daily basis is one reason why Natalie Svadjian chose real estate as a profession.

Another reason is the challenge and excitement the profession offers.

There’s a third reason!

To learn more about why Natalie chose real estate and discover that third reason, we invite you to join the College Alumni Program.

The Alumni Program has a decided, members-only website that includes the featured alumnus article, information on networking events, links to real-estate specific media, discussion boards, and the online members’ directory. In addition, members may download free audio podcasts and factsheets on select topics.

Podcasts:

Being Responsible for Your Success

Choosing the ‘Right’ Brokerage

How to Build a Successful Real Estate Team

The 5 Pillars of Loyalty

Mentoring Matters

What Makes a Successful Realtor®?

Building Your Personal Brand

The Matrimonial Home: Some Basic Facts

Closing the Sale

What is Due Diligence?

Factsheets:

Top 10 Reasons to Hire a REALTOR®

Recreational REALTORS® Checklist

How well do you communicate?

Listing Presenting Checklist for REALTORS®

Negotiation: Think “Win-Win”

 

To join the Alumni Program, you must be a graduate of OREA Real Estate College and a member of OREA. http://bit.ly/1IryRuO.

 

Credit – 

Featured Alumnus: Natalie Svadjian

Getting Started

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Getting Started

Get Ethical

If you come across a rotten egg and you break it, it stinks. This adaptation, from a Russian proverb, reflects a life reality. My interest in it is in exploring possible takeaways in the realm of real estate education and practice.

A visit to the RECO website and a casual reading of a disciplinary case could give rise to grossly erroneous conclusions. RECO, entrusted to protect the public interest, performs routine inspections and addresses complaints. Oft-times, RECO disciplines a minority of registrants who conduct their business without regard for honesty and integrity. The heedless reader could easily presume that negligent, irresponsible, incompetent, and unprofessional shenanigans are rampant in the profession.

Don’t be naïve. Ethical principles are alive and well in the real estate arena, but let’s delve a bit deeper.

Whereas ethics may be doing what the law requires, abiding by the set of standards commanded by society, can ethics be taught? RECO is positioned to enforce the standards and, proactively, seeks to provide ongoing professional education. RECO, as most others, believes that standards of right and wrong, of doing the right thing, can be taught.

Agreed, but can ethics be learned?

The RECO discipline cases are replete with information; often the details are particular to the specific case. With so many cases presenting so many different facts, are readers and students really attuned to the lessons learned or do they simply, at best, relate it unemotionally to a given principle in the Code or, at worst, deem it non applicable to their modus operandi?

Ethics can be taught but learning ethics requires a deductive, not an inductive approach.

Studying case after case of wrongdoing is an exercise in breaking one rotten egg at a time. It’s an unpleasant exercise. It’s detractive. It’s not very appetizing.

Learning, ethics or otherwise, needs to be pleasing. It needs to be engaging. It needs to start at the macro level by focusing on foundational principles that apply to disparate situations. Only after understanding and conveying the key principles (and how they relate to the Articles within the Code) can readers and students apply them to a given content and make sense of the situation.

Even before processing the ethics detailed in the RECO Code of Ethics, there needs to be a familiarity with higher moral principles: listening, empathy, commitment, focus, loyalty, giving, respect.

Indeed, William Ury, author of numerous books on negotiation and cofounder of the Harvard Negotiation Project, argues that “getting to yes’ (being ethical) can only be attained after “getting to yes with yourself”. Amen to that.

 

Link:  

Get Ethical

Turning Cold Calls ‘Hot’

When she started her career in real estate, salesperson Nancy Bloom, an OREA Real Estate College instructor, recalls how a manager told her to classify her calls as cold, warm, and hot.

“Cold calls are people who probably don’t know who you are or who you haven’t spoken to before,” Nancy explains. “Warm calls are people who know you from receiving your flyers or on whose door you have recently knocked. Hot calls are people who have indicated they or someone they know is thinking of moving or is someone who knows you well.

“The nicest and easiest people to talk to are, of course, the hot calls. The goal is to turn your cold calls into those.”

Nancy’s description holds the key to your first tip in cold calling (defined as making unsolicited telephone calls or visits) – introduce yourself. Select an area (your farm) and send out flyers or knock on doors. Make a connection so people will remember your name when you follow-up by telephone.

Following are a few of Nancy’s calling tips to make the task seem less daunting.

•  Make your calls brief and get to the point. State your name and the reason for your call.

•  Sound like you want to be making the call. Smile (it comes through on the telephone) or stand up (to increase your energy).

•  If you receive a negative response, thank them and hang up. Don’t keep pursuing it.

•  If you receive a hesitant response, you may want to probe a little further by asking another question, such as “Is it something you might be thinking of in the future?”

•  Provide information. Many people are curious about what is going on in their area or what the market is like.

•  If you intend to ask additional questions, ask questions you are comfortable with, such as:

“Are you thinking of making a move?” – or – “Are you moving?”

“Do you know anyone who is thinking of moving?”

“I’m [NAME] from ABC Realty Inc., do you have any questions about real estate in your area?”

“Housing prices have increased in your area. Do you know what your home is worth?” – or – “Would you like to know what your home is worth?”

•  Be patient. It takes a lot of “nos” to get a “yes.”

Additional Tips

•  Determine how many cold calls to make each day (make certain the number is reasonable)

•  Be (and remain) positive

•  Be respectful and professional

•  Be prepared

•  Be yourself

•  Do not contact anyone on the National Do Not Call List (for more information or is currently listed for sale with another brokerage.

 

For More Information

National Do Not call List – http://bit.ly/1oomy5R

A Mentoring Kit for New Salespeople: Training For Successhttp://bit.ly/1CvaJrh

 

 

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Please share your cold calling tips with your colleagues.

 

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Turning Cold Calls ‘Hot’

Uncommon Common Sense

“Yesterday I died.” It’s a common feeling among students subjected to communication and teaching styles based on ‘common sense’.

“First tell them what you’re going to say. Then, tell them. In the end, tell them what you said, again.”

This is sheer nonsense. I doubt this recommended, repetitive rubbish was ever true. It continues to be so widely accepted that the adage has entered the realm of common sense used as a banner of justification and rationalization.

Learning, listening, and understanding require engagement, passion, and drama. We tune out robotic principles and approaches that use repetition as its underlining architecture. In our world of explosive information, we can’t waste time ‘killing’ our students with reciting, retelling, and recapping, unless boring your audience is your unspoken objective.

Storytelling, replete with key knowledge, open to questioning, discussion, and debate is the uncommon common sense that is acutely needed.

Enough said.

 

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Uncommon Common Sense