Contact
David Fleming
Bosley Real Estate Ltd., Brokerage
290 Merton Street
Toronto, ON
M4S 1A9
416-322-8000 (phone)
416 322-8800 (fax)
David Fleming
Bosley Real Estate Ltd., Brokerage
290 Merton Street
Toronto, ON
M4S 1A9
416-322-8000 (phone)
416 322-8800 (fax)
Do you think you could get your blog up first thing in the morning?
I’ve become an addict and I need it like my cup of coffee.
Hey David, congratulations on your blog and the work you do to keep it fresh.
Just one thing. The Toronto Real Estate Board doesn’t operate or control MLS.ca. This website is owned by CREA. All TREB does is allow CREA to capture Board listings to populate MLS.ca
Best regards
I admit I only found your blog after the Garth Turner post, but its now bookmarked and checked often. Refreshing change from the other boring real estate blogs…and blogs by self professed financial and real estate guru’s like Garth Turner.
Way to put him into place…
Mike
I really like to read your blog regularly, but was not sure why my last comment was not approved - the “condo alternative” thing. It was a coincidence, but the follow story showed how people are fluid with their condo vs. house decisions…
I think a lot of comments, no matter what quality, would give the site a lift. Even if you publish crappy comments, people will read them and won’t be intimidated and leave more comments… And the feedback can be interesting…
Just a thought…
I think your blogs are great! I have read nearly everything you have posted. However, I think you should write an a-political blog regarding the in’s and out’s, pro’s and con’s, and/or myths and non-myths on the issue of statesments such as this;
“Do not go to new home sales sites without
your own professional Buyer’s Agent”
Come on what gives!? Why shouldn’t I just do all the leg work, and have a “buddy” realestate agent transact the deal for me and take the commisson myself!?
(p.s. slightly playing devils advocate here)
Thanks
Sorry have to state my opinion here: (hopefully this will be posted)
I do not agree clients should be subjected to a mortgage broker.
In response to your comment on your client getting 5.14% and then your broker was able to get them 5.04%, this is unfair because the broker had the number to work with. Had your client came in to the bank with 5.04% as the “benchmark” the Bank would have matched it on the spot. If your client had recieved 5.04%, then your broker would have tried to have found something less. It’s a game all lenders play against each other.
Another issue is, the client has no idea where the broker is placing their mortgage. It could be at a lender, which has not conact center, no customer service center, and they will be hounding down the broker to get answers to the smallest questions. (of which of course, the broker, now having made their commission will blow them off. Not all, but most will!) If the client wants to make a change on their payments, make a lump sum deposit on their mortgage, who are they going to call? And can they call the lender to do this? Does this lender even offer these options? And does the product they have even offer these options? The benefit of being with your bank is you can always call your banker, walk into the branch, and even speak with a manager to get answers and tasks done! This cannot be done with a broker.
The negative thing with brokers is, because they are shopping the clients name at so many different lenders, they are racking up numerous credit checks. In most cases, 10 or more. By the time, they have found the slight discount in rate, they have run the clients credit score through the mud, and will make it extremely difficult for the client to get any kind of lending in the coming years.
As well, the broker does not get paid the same from each lender. Thus, the broker may be more inclined to solicit more business from one specific lender, because they get paid the most (bps) for it. It happens all the time!
And at the end of the day, when rates are so competitive and there is only a difference of say .05%, the true and only way to pay off a mortgage (which should be the primary goal of any client) is to increase your base payment, even if only by $25% a payment. This one little tip, will save you more money then a .05% difference on rate would.
Sorry if this is coming off as a rant. I understand you are just “plugging” your brokers’ business. At the end of the day, there are going to be ‘huslters’ on either side of the fence. However, when you find that honest, experienced, and hard working mortgage specialist at a bank, it will have been the wiser decision to stick with the bank for sake of ease, service, and rate. Mortgage ‘rate’ discussion may be all the rage at first obtaining the mortgage, but at the end of the day, clients want to know they can see someone face-to-face to deal with their biggest investment when issues arise.
David,
Your blog is fantastic and I enjoy keeping up with your insights and amusing tidbits.
I’ve always wondered about the commission structure in Canada which is generally a lot higher than in other countries (e.g. Europe). Flat Fee MLS has caught on in the U.S. but seems to be strongly resisted by the industry (gee.. I wonder why…)
Is there a strong coorelation between selling a $500,000 condo and a $2 million condo such that a broker should be paid four times as much for handling the latter?
Or to put it another way, do brokers or firms that are known for moving high priced condos so specialized and “skilled” (e.g. maybe they have international offices with lots of rich clients) that one should only look to them to list high priced properties and “suck it up” when it comes to the 2.5+2.5?
Can we follow your blog on Twitter?
david,
i am the vp of sales and marketing for canderel stoneridge and saw your video on youtube about DNA3. loved it!! your comments are exactly what we believe in which is merging fashion, design and condos. i am involved in every aspect of this project and tell you that it is going to be unbelievable. it is taking us a little longer because we want to ensure the suite layouts, design, finishes, amenities are going to be the best in king west. i am sure you have registered online at dnacondos.com. pls do as we are looking at a mid to end of april broker launch. you will be surprised at the value you will be getting at dna.
take care and look forward to working with you on this project.
Riz
Great website David! I enjoy your articles. You are part of my everyday education into a day in the life of Realtors. I’m currently studying Course #3 General and Advanced to obtain my Real Estate license.
Thanks, and keep the activities coming!
This is an excellent and informative way to get information out to those interested in real estate. I was wondering what the purpose of the lack of recent updates is however, I enjoy reading your blogs and the absence of them has left me without that read that gets me through the day.
Look forward to hearing more from you, and keep up the good work!
MS
Hi David,
I have been offered $587K for MLS C 1830156 around 1760 sqft with main fee of $1202 per month only water included. I love the unit but find the main fee too high as resale will be hard. What do u think? The same unit is on sale on North building for $760K so the price sounds good!
What are your thoughts?
www.yourhome.ca/homes/realestate/article/822415–upstart-real-estate-companies-launch-war-on-commissions