#THECLOSERSDAILY : EPISODE 128: HOUR OF POWER

I'm Justin Konikow. Welcome to episode 128 of The Closers Daily. So I've got a really simple one for you, but people that aren't in the industry might not know why it is when real estate agents book a showing, that they book a one-hour block. Lot of showings do take a lot less time than that, sometimes five, 10, 15, 20 minutes, maybe a half an hour, you know, maybe you're getting to 45 minutes or plus, for say, a six-plex or a larger property, you know, maybe on some acreage, but typically real estate agents are doing a one-hour block because they're showing four, five, six properties at a time. So a full-blow tour will take about two hours, and depending on traffic, timing, how much time you spend on each house, you wanna make sure you have enough time to cover your ground. Now, at the same time, depending on the relationship that agent has with the other agents, they're letting them know when they're done with the house, so they can let the sellers know in time to go back, and if there's little kids or what not, you always wanna try and be considerate. But that's why we block a full hour.

Disclaimer: "Although care has been taken to ensure the accuracy, completeness and reliability of the information provided, we assume all information is subject to change and should be verified independently by the buyer and their agents.”

#THECLOSERSDAILY : EPISODE 127: BANK SALES

I'm Justin Konikow. Welcome to episode 127 of The Closers Daily. This one has to do with bank sales and power of sales. So we were actually at a investors workshop for a friend and client of ours this morning and they were actually talking about how there's a lot of coaching companies that actually come up from the States and try to use the REO and short sale and bank sales tactics that they work really well down there up here and they don't necessarily apply. And that is true. The way that we do business is Canada is very different than the States. So say for an example you default of your mortgage. Your bank takes back your property. What they're gonna do is they're actually gonna do the power of sale process and they're gonna get the fair market value for the property and they're gonna take all the expenses and proceeds out of the sale. Now you gotta ask yourself, what happens if there's any extra money? Well, bank has to keep it right? Wrong. It actually goes back to the seller in Canada. One example of why things are different up here than they are down in the States. There's a lot more intricate detail when it comes to that stuff. If you guys have any questions let us know and we'll get them answered for you.

Disclaimer: "Although care has been taken to ensure the accuracy, completeness and reliability of the information provided, we assume all information is subject to change and should be verified independently by the buyer and their agents.”

#THECLOSERSDAILY : EPISODE 126: MOVE YOUR BODY

I'm Justin Konikow welcome to episode 126 of The Closers Daily. This one has absolutely nothing to do with real estate. Just a resource for you guys. So, those of you who've been following my story for some time know that I deal with a bit of a hip issue and was rolling with a killer local business owner named Tommy Caldwell, owns Hybrid Fitness up at Sarnia and Hyde Park, check him out. Reminded me of a guy name Doctor Andreo Spino. Check the link. YouTube him. He has a system called functional range conditioning and is an absolutely amazing resource when it comes to mobility, impingements, just functional range conditioning. So a lot of people know that mobility is a big part of working out, and making sure that you keep mobile and active. So check out his stuff on YouTube. I can't say enough good things about it, and I'm glad that Tommy mentioned him the other day because I'm getting right back into it and incorporating it into my daily routine. Health and wellness is a big thing. So make sure you're taking care of yourself so you can take care of those around you.

Disclaimer: "Although care has been taken to ensure the accuracy, completeness and reliability of the information provided, we assume all information is subject to change and should be verified independently by the buyer and their agents.”

#THECLOSERSDAILY : EPISODE 125: MAKE IT HAPPEN

Hi, I'm Justin Konikow. Welcome to Episode 125 of The Closers Daily. This one's about selling your house. So you've done everything to repair it to go to market. You've worked with your real estate agent on a plan and now it's on the market and you start getting all these showing requests and you're starting to feel overwhelmed because they are showing it during the baby's nap time or, you know, not the most convenient times for you. Well, keep in mind, you know, not every property is gonna to have hundreds and thousand of buyers. Sometimes there may only be, you know, five or ten buyers in a marketplace for that specific price range, area, school zone, whatever it may be. So make sure you do everything humanly possible to accommodate those showings on their schedule cause, typically, their gonna be looking at five to six houses at the same time in a very short window. So you don't want to miss those buyers. Good way to do that is to plan ahead of time. What are you gonna do with your kids? What are you gonna do with your dog? What are you gonna do if you get a last minute showing? Make sure you have all those questions answered and it can actually net you quite a bit more money on the sale of your house. Hope you enjoy the series and take care.

Disclaimer: "Although care has been taken to ensure the accuracy, completeness and reliability of the information provided, we assume all information is subject to change and should be verified independently by the buyer and their agents.”

#THECLOSERSDAILY : EPISODE 124: I SEE THROUGH YOU

I'm Justin Konikow and welcome to episode 124 of The Closers Daily. So this one has to do with transparency and dealing with other agents or parties if you have something under contract. Transparency meaning, you know, letting them know what's happening when it's happening. So let's take a financing condition, for example. So say you run into trouble on the first or second day and you only have seven days for financing. Let the other party know what's going on, if they require extra documents, if you might require an extra day or two, you know, if you're an overseas or out of country candidate, things may impact getting the financing within that seven day period because if you let them know ahead of time, when it comes time to do the extension, you'll have a way better likelihood of getting that set extension. If you don't tell them anything, you hide all the facts, and then you get to the last day and you're scrambling, they might not give it to you. And if you've wasted money on inspection or anything else, appraisals or whatnot, that may be money that's washed down the tube. So super important, let people know what's going on, be transparent and make sure that you protect yourself throughout the transaction.

Disclaimer: "Although care has been taken to ensure the accuracy, completeness and reliability of the information provided, we assume all information is subject to change and should be verified independently by the buyer and their agents.”

#THECLOSERSDAILY : EPISODE 123: DO YOU BUY THE FIRST HOUSE YOU SEE

I'm Justin Konikow, welcome to episode 123 of The Closers Daily. We always promise to give you guys pocket listings and off-market opportunities, here's one: 323 Colborne, unit 1901, gonna be listed tomorrow at 178,5. awesome deal, southwest facing view, two bedroom unit, can't ask for cheaper living in downtown London. This episode of The Closers Daily is about buyers and buyer tours and should you buy a property on your first tour out? We had that question asked to us by a buyer, and, honestly, it depends on what your parameters are and if the perfect property happens to show up on the first tour. Sometimes it's the first tour, sometimes it's the sixth. You can't really set a rule ahead of time of when you're gonna see the right property. Just know what you're looking for, make sure you have a full-fledged consultation with your agent before you go out, so you set your expectations ahead of time. Know what you can afford, get your prequalifications in place and then be ready to pull the trigger. You don't want to pass up on an opportunity just because you want to get out and see 20 more houses if you found the one that you love.

Disclaimer: "Although care has been taken to ensure the accuracy, completeness and reliability of the information provided, we assume all information is subject to change and should be verified independently by the buyer and their agents.”

#THECLOSERSDAILY : EPISODE 122: GOTCHA MONEY

Hi, I'm Justin Konikow and welcome to TheClosersDaily, Episode 122. So, deposits. What are they? How do they work? A lot of people have questions about them. Are they a down payment? No, they're not a down payment. So, when you're doing a contract, there has to be some sort of consideration to make that contract valid, consideration in the terms of money. So you can actually put a deposit of a dollar on a contract if you wanted to, but are people gonna take you seriously? Lot of times when we're doing contracts, we're doing one to two percent of the value of the property, especially is when we're doing income-type properties cause they wanna see that you have the ability to close on the transaction, you know, and where does that money go? Depends on how the contract's written. In most cases, and in our market, we see very, very often, the deposit gets held by the listing brokerage in trust. If the buyers don't fulfill their conditions and their clauses are written the right way, and they kill the deal, a lot of times it gets returned to the buyer in full without deduction. Again, it's very important to know it depends on how the contract is written. There's different ways to write clauses, and we're going to cover that tomorrow. Thanks for watching.

Disclaimer: "Although care has been taken to ensure the accuracy, completeness and reliability of the information provided, we assume all information is subject to change and should be verified independently by the buyer and their agents.”

#THECLOSERSDAILY : EPISODE 104: OFF MARKET DEALS

Welcome to The Closers Daily episode number 104. So we've been touring people all day long looking at investment properties and thought we'd touch on something when it comes to finding off-market deals and what that is is finding an off-market deal may not always be what it's cracked up to be. Make sure you've got somebody in your pocket so that you can get the real story on that property and have somebody represent you in that transaction. They can be kind of tricky to deal with. Sometimes they can represent things that aren't necessarily true. Like maybe they recently bought it. They are representing upgrades that the previous owner did and then adding a whole bunch of money to the price because the market seems to have increased. You gotta be really careful and look to the back story. Always google the address. You'll be surprised at some of the things that pop up when it comes to that address and don't get emotional about it. I always say this to people but leave your emotions out of it. If it fits your portfolio and the numbers work, take a look at it. And if they are making a whole bunch of money but the numbers still work for you, don't necessarily worry about them, worry about what you're doing.

Disclaimer: "Although care has been taken to ensure the accuracy, completeness and reliability of the information provided, we assume all information is subject to change and should be verified independently by the buyer and their agents.”

#THECLOSERSDAILY : EPISODE 100: THECLOSERSDAILY EPISDOE 100: SHOULD I LEAVE THE INSPECTION CLAUSE OUT OF MY REAL ESTATE CONTRACT??

 

We made it to triple digits, holy moly. So we had an audience member ask us yesterday about leaving a financing and inspection condition out of a contract because they were going into multiples and what our advice would be. And our advice would be never leave your conditions out of your contract. If you wanna leave your conditions out of your contract, what you should be doing is doing all your due diligence ahead of time. So if you have, say, a week before they're accepting offers, go do a pre-inspection. Pay a home inspector to go through the property. Yeah, it might cost you a couple hundred bucks, but it's the cheapest insurance you can buy. And if you've got major concerns, electrical, plumbing, anything else, call one of those contractors. Bring them through the property. We've done it many, many times, and that has saved us and our clients in many situations where maybe on the surface it seems like they did a great flip of the property. There was one I can remember two weeks ago where the inspector went through and literally everything was wrong with the property. So don't buy anything blind. Do your due diligence. Know what you're getting yourself into. And just make sure you're protected. There will always be more properties.

Disclaimer: "Although care has been taken to ensure the accuracy, completeness and reliability of the information provided, we assume all information is subject to change and should be verified independently by the buyer and their agents.”

#THECLOSERSDAILY : EPISODE 99: UNCONDITIONAL LOVE

Closers Daily Episode Number 99. Thought I'd give you guys some scenery of the shores of Lake Huron. I'm heading up to Bayfield to wrap up a sale up there, and wanted to touch on something we got asked by one of the people who watches our show. What happens in a multiple offer situation, and, you know, should I put conditions on my offer or not put conditions on my offer? Well, you know, the advice that we gave them is the same that we give everybody, when you're entering multiple offers is, you know, a firm offer will take precedent over a conditional offer, but you definitely don't want to be waiving your conditions without knowing what you're getting yourself into. The two main conditions being financing and inspection. So financing's super important because if the property doesn't actually appraise, then you're going to have to come up with the shortfall to close the property. What do I mean by that? I mean, if it's a, say, $400, 000 property, and it only appraises at $350, and you've waived your financing contingency, and you're firm, you gotta come up with $50k to close that deal, or you're gonna be liable. We're gonna cover the inspection condition on the next episode, tomorrow. In the meantime enjoy the view. Take care.

Disclaimer: "Although care has been taken to ensure the accuracy, completeness and reliability of the information provided, we assume all information is subject to change and should be verified independently by the buyer and their agents.”

#THECLOSERSDAILY : EPISODE 72: SNEAKY PETE

Closers Daily Episode Number 72. So when you're looking at a property for the first time, you can get overwhelmed with the overall look of the house. And the big ticket items that you don't really notice some of the little things, and one thing that we've notice a couple times doing multiple inspections is when you're inspecting your property, sometimes when you're going through the basement you'll find these sellers who are out there we like to call them "Sneaky Petes" and they stack things up in front of issues that they want to cover up in the basement. Now, we tell our clients even when we list a property, when we're asking them for disclosures, it's not a big deal if there was something that happened, whether a roof leak or a foundation leak, or anything like that. We wanna be as transparent as possible to avoid problems down the road. We actually want to disclose them and what was done to fix them, so everybody is on the same page, and you don't run into problems. "Sneaky Petes" are the ones who will stack boxes up in front of say, a crack in the foundation that they don't want to disclose, and wanna hide it prior to closing. Those are the ones that end up becoming big problems, and you wanna watch out for. Always look at the little things. Don't get drawn in by the big

Disclaimer: "Although care has been taken to ensure the accuracy, completeness and reliability of the information provided, we assume all information is subject to change and should be verified independently by the buyer and their agents.”

#THECLOSERSDAILY : EPISODE 69: WHOSE SIGN IS IT ANYWAYS

The Closers Daily Episode 69

First up, big thanks to everyone who's been following the series. You're fueling our fire with all your feedback and comments so keep them coming. And we're gonna cover the sold signs on a property. So, typically when I list a property, the way it works in our market is, I put my sign up, if I sell the property then I put a sold sticker on it. If you see a sold sticker on it, does it mean that I brought the buyer? Not necessarily. In this case, yes, but in a lot of cases when another agent brings their own buyer, the listing agent is still the one who gets credit for the sale. Back in the day in places like New York, agents would list properties and they actually wouldn't cooperate with a lot of other agents. They would try and double in the property every single time, find the buyer and get the whole commission. Real estate market's changed quite a bit, we now offer what's called a cooperating fee. So, if I list a property and I agree to a commission with my seller, I'll give away a portion of my commission to another agent who can bring a buyer. Incentivizes everybody to try and sell the property and it opens up the market to quite a few more buyers but the agent that listed the property initially does tend to get credit for the sale. I only saw one instance where the buying agent asked to put a sign up, but...

Disclaimer: "Although care has been taken to ensure the accuracy, completeness and reliability of the information provided, we assume all information is subject to change and should be verified independently by the buyer and their agents.”

#THECLOSERSDAILY : EPISODE 68: PIZZA PARTY

Closers Daily, Episode 68. Hope you guys are all having a great Friday evening. Late night at the office here, but it is what it is. Here is a little bit of a life hack for you. So if you park in downtown London, use an app called Honk Mobile. If you look at the parking meters you'll actually notice a four-digit number on it, so, like, 2671. There's actually one by One London Place that I used today. And you can pay for your time on your phone. I think it costs an extra 25 cents, but it sends you reminders 15 minutes before your meter expires. You can actually just tap the app and update your meter from that. So if you get stuck in an appointment, it's probably worth the extra 25 cents to save you from getting a ticket downtown. I think it's a way of showcasing how London is forward-thinking in certain ways, and definitely an app that I find super, super useful. So little life hack for you. Saves you time. You don't have to run to the meter every time, pull your credit card out, and then run back to your car. I've used it nonstop this week, and I absolutely love it. So Honk Mobile, download it. Hope you guys are doing well, I'm gonna go eat Rico's Pizza thanks to Glen Whitehead's recommendation. Take care.

Disclaimer: "Although care has been taken to ensure the accuracy, completeness and reliability of the information provided, we assume all information is subject to change and should be verified independently by the buyer and their agents.”

#THECLOSERSDAILY : EPISODE 67: OFF MARKET BONANZA

Closers Daily episode 67. So we're always giving out tips and whatnot at the beginning of the closers series. We promised we'd give you off market properties before they're actually listed, so here's a couple for ya. 322 Fleming is coming up, it's a student rental, it's vacant, freshly painted, clean, ready to rock. It's gonna hit the system next Tuesday. 1212 Thamesridge Crescent is in Hunt Club West, 629k, knockout property. It goes live tomorrow as well, there's gonna be an open house Saturday and Sunday. We also have 1570 Richmond Street, unit number 44, getting another student rental property. Ready to rock, it's been painted, clean, carpet, everything's being done this weekend as well. Perfect for owner-occupier. Actually both Flemming and that property, and then we actually have two more coming up near western as well. One of them could be a turn key student rental property, it's already got five tenants in it, and another one could actually be an old north conversion or student rental. Stay tuned for those two and hopefully you found some value in that. Take care.

Disclaimer: "Although care has been taken to ensure the accuracy, completeness and reliability of the information provided, we assume all information is subject to change and should be verified independently by the buyer and their agents.”

#THECLOSERSDAILY : EPISODE 66: UNCLE JIMMY THE LAWYER

Welcome to The Closers After Dark. Just kidding, it's still The Closers Daily episode 66. We're just at the office super late. So got a question today about what can happen if a firm deal doesn't close. So a lot of buyers are putting contracts on properties without going through their due diligence. Say I list a property for $450, accept an offer $475, but they can't provide funds on closing, and then the lawyers just can't get it done, and the buyers can't get it done. You would be able to go after them and sue them for damages but you have to prove enough damages to make it worthwhile. So say you sold it again on market for $490, well you made a profit so have a really hard time proving damages but say you sold it for $450 and then you leased the property based on that sale and a whole bunch of other stuff then you might have a little bit more recourse. At the end of the day, make sure you're using a real estate specific lawyer. That's a legal question not a real estate question. We are not lawyers, we are not representing. We know what we are doing in a legal capacity but just telling you what we have seen out there. One thing is if Uncle Jimmy does a whole bunch of law but he's not real estate specific, I'd say go and find yourself a good real estate lawyer. We have a couple we use. Feel free to reach out and we'll connect you guys. Take care.

Disclaimer: "Although care has been taken to ensure the accuracy, completeness and reliability of the information provided, we assume all information is subject to change and should be verified independently by the buyer and their agents.”

#THECLOSERSDAILY : EPISODE 64: CATCHING FEELINGS

Closers Daily episode 64, so here's a tip that everybody knows in their heart of hearts but a lot of people don't necessarily practice its don't get emotional about the transaction. Really tough when you're buyer or a seller, obviously dealing with your own property, say you get a response after a home inspection and they say, hey, we found this, this, this. Don't create a narrative without really getting down to brass tacks and finding out what they want. Sometimes you'll go to people and send a list saying hey, these are the things are the things that we're going to be reviewing over the next couple days here's a couple notes of concern sometimes a 24 hour period the sellers can create a narrative in their mind that oh, they're going to ask us for a price or they're going to do this, they're going to do that and they can put a wall up before you even get to that point make sure you're transparent about it, hey, this is why we're worried about these things these are the answers that we're looking to get if you can help them bridge that gap and get the answers quicker, a lot of times you can solve those questions ahead of time and stop the buyers from creating a narrative. But again, the lesson is don't get emotional about the situation, look at the facts, try and bridge the gap and come to the best solution in the quickest time.

Disclaimer: "Although care has been taken to ensure the accuracy, completeness and reliability of the information provided, we assume all information is subject to change and should be verified independently by the buyer and their agents.”

#THECLOSERSDAILY : EPISODE 48: WYNN WILL IT STOP

The Closers Daily Episode 48. Almost midnight, getting home from a crazy week of travel. But as always we're gonna get this content to you guys daily. And this one's gonna cover the new foreign buyer tax that was just announced by the provincial government. So in BC a little while ago they instituted a foreign buyer tax, thinking they could control the housing market with it and stem some of the crazy price increases and where the real estate market was going there. They decided to do the same thing in Ontario, mainly because of what's been happening in Toronto but actually if you go and search a guy named Simon Giannini he's one of the top real estate agents in Toronto. And he had an interesting point. Only three percent of the sales in Toronto have been from foreign buyers. So you know whenever the governments intercedes and tries to control commodities using regulation it doesn't typically end well. It's gonna be really interesting to see what happens over the next little bit. Next couple days of the series we'll dig in, talk to some different people and get some different perspectives on the issue but that's something you definitely need to know about. Disclaimer: "Although care has been taken to ensure the accuracy, completeness and reliability of the information provided, we assume all information is subject to change and should be verified independently by the buyer and their agents.”

#THECLOSERSDAILY : EPISODE 47 : DON'T WORRY. BE HAPPY.

The Closer's Daily episode 47
So we're going to continue the conversation about landing property in this crazy market. And another strategy you can use is be really really to people. So, you know in real estate, from showings, to bookings, to offers, to multiple offers, to you being on the listing side, to you being on the buying side, you know there's a lot of stressful situations and things can get pretty tense. There's phone conversations, people can treat people with disrespect, or kind of end things on a bad note. A strategy that we really like to use is always treat people with respect and love and kindness. The same type that I would expect despite the situation. It is just business. It's not my property that I'm selling, it's not my money that I'm investing. It's my buyer's money that I'm investing so I'm there to protect them and guide them along. I have to leave my ego out of every situation because at the end of the day if I respond to somebody in a snappy way and then I'm sitting on the other side of the transaction from them, that's going to come back and bite me in the butt. So today's take away is be really really nice to people because you never know when you're going to be on the other side of the transaction. Hope you guys are enjoying the series, take care.

Disclaimer: "Although care has been taken to ensure the accuracy, completeness and reliability of the information provided, we assume all information is subject to change and should be verified independently by the buyer and their agents.”

#THECLOSERSDAILY : EPISODE 46: THINK ON YOUR FEET. DON'T COMPETE.

Closers Daily episode 46
So continuing on the past couple of episodes that we've done on how to buy when the market is as crazy as it is and you don't necessarily want to compete. Another strategy you can use is purchasing new construction. New construction right now is something that, in London, is very, very limited. I know there's about 300 lots that are coming up in phase five of Carnataka Village. I also know that London didn't plan accordingly for the amount of absorption rate that we needed. I know last year we absorbed about 900 new builds into London. This year we're on pace to do about 1,300. I've heard rumblings that there's some stuff on the back end that they're going to be releasing a whole bunch of new lots coming up. As of right now, the builders actually just jumped their prices so the lots that maybe were $75,000 last year, are now a buck 25. Some of the lots that were $175,000 are $200,000. So what they're banking on is the limited inventory, prices reflective of the demand, so the builders know their in that position. I've also heard they jumped some of their building costs so it's important to know what's out there and what's coming down the pipeline so that you don't over pay, but that is another option.

Disclaimer: 
"Although care has been taken to ensure the accuracy, completeness and reliability of the information provided, we assume all information is subject to change and should be verified independently by the buyer and their agents.”

REAL ESTATE TIPS AND TRICKS FOR BUYERS INVESTORS AND BIGGEST MISTAKES AGENTS MAKE!!!

Episode 004 :

 

Take a peek and let us know what you think it would mean the world to us. Oh and hit that nifty little subscribe button on the channel. Some gold coming next week :)

 

CLOSING TIME EPISODE 004 A little insight into our day to day. Locally owned #RealEstate firm with Global reach🌍Serving London Ontario, Grand Bend, Bayfield, and Elgin and Middlesex Counties✈️Residential, Commerical+ Investing specialists💰 Covering a variety of topics including: -Paddle boarding - Real Estate Agent Advice -How's the Market? -Agents Need to Earn their Value -Appraisals -Commercial Real Estate -The FUTURE of Commercial building Disclaimer: "Although care has been taken to ensure the accuracy, completeness and reliability of the information provided, we assume all information is subject to change and should be verified independently by the buyer and their agents.”