TR Talks Toronto Real Estate

Why Everybody Wants to Become a Real Estate Agent
 

**Segment 1: Reasons People Want to Become Real Estate Agents**
- Discussion of common motivations for wanting to become a real estate agent:
  - Saving money and keeping commissions in-house.
  - The perception of easy money in real estate.
  - Passion for homes and home decoration.
  - Desire for flexibility in work schedule.
  - Enjoying working with people and helping them.
- Insights and elaboration on each motivation.

**Segment 2: Considerations Before Becoming a Real Estate Agent**
- Emphasizing the importance of understanding the responsibilities and commitments involved in real estate.
- Discussion of the need for a sales-oriented mindset.
- Rajiv's perspective on the accountability and responsibility of a realtor.
- The challenge of representing oneself, family, and friends in real estate transactions.

**Segment 3: Real Estate Agent Statistics**
- Sharing statistics on the number of registered real estate agents in the Toronto Regional Real Estate Board.
- Breaking down the number of agents by the number of deals they do per year.
- Highlighting the competitive nature of the real estate industry.
- Emphasizing the role of experience in real estate success.

**Segment 4: Where to Gain Experience**
- Discussion of how new real estate agents can gain valuable experience.
- Options for gaining experience: joining a brokerage, working with a mentor or team, or seeking coaching.
- The importance of mentorship and coaching in real estate.
- Encouraging listeners to reach out with questions or requests for future topics.

**Conclusion**
- Recap of key points discussed in the episode.
- Invitation to follow, share, comment, and ask questions.
- Contact information for Team Rajpal and a call to make it a great day.

Team Rajpal
Instagram: @teamrajpal
Facebook:https://www.facebook.com/teamrajpal
TikTok: @teamrajpalrealestate
Phone: 647-875-8000
Email: info@teamrajpal.com
www.teamrajpal.com
Top 1% of 75,215 agents in the GTA*

Description

Join Xerxes and Geetha as they dive into the latest market stats for August and discuss the surprising decision by the Bank of Canada to hold interest rates at 5%. They explore the resiliency of the Canadian real estate market, even in the face of economic challenges, and offer insights into what the future may hold. Whether you're an investor, a homeowner, or someone looking to get into the market, this episode is packed with valuable information. Don't forget to share, comment, and leave us a five-star review if you find this episode helpful!

Introduction

• Greetings and reintroduction of hosts, Xerxes and Geetha.
• Brief overview of the podcast's focus: August market stats and Bank of Canada's decision on interest rates.

Bank of Canada's Interest Rate Decision

• Discussion on the Bank of Canada's unexpected decision to hold interest rates at 5%.
• Speculation on why the Bank of Canada made this decision.
• Mention of some banks increasing their fixed rates despite the Bank of Canada's decision.

Historical Context

• Comparison to the 2008 financial crisis.
• Discussion on the impact of stress tests on the Canadian mortgage market.

Economic Indicators

• Year-over-year analysis of economic indicators like GDP growth, employment growth, unemployment rate, and inflation.
• Discussion on how these indicators are affecting the real estate market.

Real Estate Market Stats

• Sales down by 5.2% compared to last August.
• New listings up by 16.2% compared to last August.
• Average price up by 0.3% compared to last August.
• Discussion on days on market and what it indicates about market health.

Resiliency of the Real Estate Market

• Argument for the resiliency of the real estate market despite economic challenges.
• Addressing the concerns and skepticism some people have about the market.

Government Policies and Their Impact

• Discussion on proposed additional tax for homes over three million.
• Talk about government land being used to build more homes.
• Critique of the slow pace of construction and red tape in government processes.

Future Predictions

• Speculation on what might happen in the market in the coming months.
• Discussion on the potential for interest rates to change again.

Conclusion

• Summary of key points.
• Encouragement for listeners to reach out for more personalized advice.
• Thank you and request for reviews and feedback.

Team Rajpal
Instagram: @teamrajpal
Facebook:https://www.facebook.com/teamrajpal
TikTok: @teamrajpalrealestate
Phone: 647-875-8000
Email: info@teamrajpal.com
www.teamrajpal.com
Top 1% of 75,215 agents in the GTA*

In the latest episode of TR Talks, Xerxes is joined by Liam, a downtown specialist of the GTA rental market, to discuss what is happening with the Toronto rental market. The team cover a range of topics, including the current competitive rental market, what tenants are looking for in a condo today, and the increase in rental values.

Throughout the episode, Xerxes and Liam provide valuable and practical insights for anyone interested in the Toronto rental market. Whether you're a tenant, landlord, or investor, this episode is a must-listen. Tune in to TR Talks to stay up-to-date on the latest in the Toronto rental market.

Shownotes

(00:01:25) Overview of the rental market

• Current rental market is very competitive
• 10 applications for every rental listing
• Landlords often looking for tenants with high enough income to pay rent on time

(00:04:20) What tenants are looking for in a condo today

• High-end amenities such as a pool and 24-hour concierge
• Expectations for a one-bedroom downtown at an average of $2,500 per month

(00:05:00) Increase in rental values

• 11% increase in rental values from Q2 last year to Q2 this year
• Rental values are equivalent to dividend payments of stocks

(00:06:30) Increase in the supply and absorption rate of rental units

• 15% increase in supply of rental units from last year
• Over 5% increase in absorption rate of rental units

(00:08:45) Tips for tenants when making an offer on a rental property

• Have all documents ready ahead of time
• Provide a few extra months of rent in advance if possible

(00:11:15) Perspective of landlords and investors

• Ideal tenant has a rent ratio of 25-35% of their pre-tax income
• Best tenants are the most qualified, not necessarily the highest paying

(00:12:40) Growth of the rental market in other areas of the GTA

• Durham area is a solid growth market for rental properties

Team Rajpal
Instagram: @teamrajpal
Facebook:https://www.facebook.com/teamrajpal
TikTok: @teamrajpalrealestate
Phone: 647-875-8000
Email: info@teamrajpal.com
www.teamrajpal.com
Top 1% of 75,215 agents in the GTA*

In this episode of TR Talks, the team delve into the world of private selling. They explore the reasons why some people choose to sell their homes privately, such as the desire to save money on commissions. However, they also discuss the potential pitfalls of going it alone, including the emotional attachment that can hinder the sale of a home.

The hosts examine the benefits of hiring a realtor, including their experience and negotiating skills. They also touch on the importance of staging a home, although they caution that staging alone is not enough to guarantee a successful sale

Tune in to TR Talks for an insightful discussion on private selling and the role of realtors in the home selling process.

Shownotes

Why Sell Privately? (00:00:40)

• Saving money on commission
• List to sell ratios
• Working with the right agents can put more money back in your pocket

Why Hire a Realtor? (00:06:10)

• Experience and negotiating skills
• Agents know how to get the best deal for their clients
• Emotional attachment can hurt the sale of the home

Staging a Home (00:12:45)

• Staging is not the only factor in selling a home
• Less than 2% of privately sold homes are staged and sold
• The value of an agent comes from the process and experience they bring to the table

Team Rajpal
Instagram: @teamrajpal
Facebook:https://www.facebook.com/teamrajpal
TikTok: @teamrajpalrealestate
Phone: 647-875-8000
Email: info@teamrajpal.com
www.teamrajpal.com
Top 1% of 75,215 agents in the GTA*

 The Pickering City Project is a new master-planned community in the Durham Region. In this episode, Nick and Xerxes cover the project overview, population growth in the area, the Pickering City Centre, pricing and deposit structure, and the potential for investors. The team also discuss the importance of understanding user needs in real estate and investing. This episode is a must-listen for anyone interested in real estate development or investing in the Toronto area.

Shownotes

• Pickering City Project (00:00:30) 
  • Master planned community
  • First tower in the first phase
• Population Growth in Durham Region (00:01:05) 
  • Durham as one of the fastest growing areas in the GTA
  • Only 2% of completed condominium projects in Durham
• Pickering City Centre (00:03:00) 
  • Proximity to GO Station
  • Onsite shopping mall, restaurants, and office space
  • 55-acre master plan community
• Pricing and Deposit Structure (00:03:45) 
  • Starting at $500,000 for 500 sq ft
  • Lower deposit structure than other pre-construction projects
• Potential for Investors (00:09:00) 
  • Velocity of people moving is important
  • An excellent opportunity for investors
• Conclusion (00:13:35) 
  • Reputable builder with no issues in the past
  • Zero interim occupancies with Senator court
  • Follow and share the podcast

Team Rajpal
Instagram: @teamrajpal
Facebook:https://www.facebook.com/teamrajpal
TikTok: @teamrajpalrealestate
Phone: 647-875-8000
Email: info@teamrajpal.com
www.teamrajpal.com
Top 1% of 75,215 agents in the GTA*

What’s the impact of AI on the real estate industry? In this episode, the team dives into topics such as whether AI can replace real estate agents, the value of human emotion in real estate, and the limitations of AI in negotiating. Nick, Geeta, and Rajiv also touch on the slow development of the real estate industry and the challenges that come with implementing AI technology. If you're interested in how AI is shaping other industries, this episode of TR Talks is worth a listen.

Shownotes

• Slow development in the real estate industry: (00:03:30)
• AI in real estate: (00:03:40) 
  • Can AI replace real estate agents?
  • AI impact on the industry
  • Managing emotions in real estate
• AI in other industries: (00:04:30) 
  • Plagiarism detection in schools
  • AI in court cases
  • Challenges in AI technology
• The value of human agents: (00:08:00) 
  • The importance of human emotion in real estate
  • The impact of change on people
• The future of AI in real estate: (00:12:15) 
  • Enhancing property descriptions with AI
  • Limitations of AI in negotiating
  • The role of licensed agents in real estate

Team Rajpal
Instagram: @teamrajpal
Facebook:https://www.facebook.com/teamrajpal
TikTok: @teamrajpalrealestate
Phone: 647-875-8000
Email: info@teamrajpal.com
www.teamrajpal.com
Top 1% of 75,215 agents in the GTA*

 In this episode, Geeta, Nick, and Rajiv discuss the July 2023 market stats, including the increase in average price points from last year and the impact of interest rates on the market. They also explore sales activity and inventory on the market, as well as specific neighborhoods and the opportunities for upgrading and pre-construction investments. The hosts caution that while the market is slowly moving towards a balanced state, it's important to speak to professionals to better understand specific neighborhoods and make smart decisions. Tune in to TR Talks for the latest news and insights on the real estate market. 

Shownotes

• Average Price Point (00:01:15) 
  • Increase in average price point from last year
  • Importance of considering previous months' data
• Market Progression (00:01:50) 
  • Comparison of average price point from May, June, and July
  • Impact of interest rates on market
• Sales Activity (00:03:25) 
  • Increase in sales activity from last year
  • Comparison of sales activity from May, June, and July
• Inventory on Market (00:06:35) 
  • Roughly three months inventory available
  • Slowly moving towards balanced market
• Specific Neighborhoods (00:08:35) 
  • Importance of speaking to professionals for better understanding of specific neighborhoods
• Upgrading (00:11:50) 
  • Great time to upgrade due to balanced market
• Pre Construction (00:14:15) 
  • Pre construction as a great investment tool
  • Increased confidence and comfort for seasoned investors
• Hesitation from First Time Investors (00:15:00) 
  • Hesitation from first time investors compared to seasoned investors

Team Rajpal
Instagram: @teamrajpal
Facebook:https://www.facebook.com/teamrajpal
TikTok: @teamrajpalrealestate
Phone: 647-875-8000
Email: info@teamrajpal.com
www.teamrajpal.com
Top 1% of 75,215 agents in the GTA*

 Selling your home? How would you appeal to the next generation of buyers? Maybe you can try updating older homes, refreshing your home, and incorporating smart technology and energy efficiency. In this episode, Geeta and Nick share tips and tricks for making your home more appealing to the next generation, including changing doorknobs and light fixtures, painting the whole home in a neutral color, and adding video doorbells for extra security. Geeta and Nick provide practical advice for homeowners looking to update their homes while avoiding choppy updates and maintaining consistency in color and decor. Tune in to TR Talks for expert insights and inspiration for your next home renovation project.

Shownotes

Updating Older Homes

(00:01:10) Challenges of updating older homes

(00:01:45) Open concept vs. separate rooms

(00:02:10) Layout and perception

(00:03:00) Technology and energy efficiency

Refreshing Your Home

(00:04:20) Changing doorknobs and light fixtures

(00:05:35) Consistency in color and decor

(00:06:05) Avoiding choppy updates

(00:07:15) Painting the whole home

(00:08:45) Warm vs. cold lighting

(00:09:30) Video doorbells

(00:11:30) Conclusion

Team Rajpal
Instagram: @teamrajpal
Facebook:https://www.facebook.com/teamrajpal
TikTok: @teamrajpalrealestate
Phone: 647-875-8000
Email: info@teamrajpal.com
www.teamrajpal.com
Top 1% of 75,215 agents in the GTA*

In this episode, Xerxes and Ivone talk about the advantages of using a mortgage broker versus a bank, including personalized service and more lending options. They also discuss the benefits of credit unions and how they differ from banks.

The recent Bank of Canada rate hike is another topic of discussion, particularly its impact on variable mortgage holders. Xerxes and Ivone offer some advice for those affected and explain how the rate hike could affect monthly payments.

Whether you're in the market for a mortgage or just curious about the world of financing, TR Talks has something for you. Tune in to learn more about the world of mortgages and loans, and get expert insights and tips that can help you make informed decisions about your finances. Don't miss this episode of TR Talks!

Introduction: (00:00:14)

• Introductions of Xerxes and Ivone
• Ivone's experience in mortgages

Advantages of a Mortgage Broker: (00:04:05)

• Personalized service
• More lending options then banks
• Tailored mortgage solutions to meet individual needs

Credit Unions: (00:08:45)

• Differences between credit unions and banks
• Credit unions being more flexible on rates and amortization

Bank of Canada Rate Hike: (00:11:53)

• Discussion on Bank of Canada raising rates
• Inflation rates affecting rates going up
• Variable mortgage holders affected

Team Rajpal
Instagram: @teamrajpal
Facebook:https://www.facebook.com/teamrajpal
TikTok: @teamrajpalrealestate
Phone: 647-875-8000
Email: info@teamrajpal.com
www.teamrajpal.com
Top 1% of 75,215 agents in the GTA*

In this episode, our hosts Nick and Rajiv sit down with special guest Jessica Travers from Lotus Paralegal to chat about everything you need to know when it comes to landlord-tenant law in Ontario.

From dealing with difficult tenants to subleasing property, the conversation covers a wide range of topics that every landlord or tenant should be aware of. Jessica offers practical advice and tips on how to navigate these complex situations, emphasizing the importance of communication and collaboration between all parties involved.

Whether you're a seasoned landlord or a first-time renter, you'll come away from this episode with a better understanding of your rights and responsibilities under the law.

So sit back, relax, and join us for an engaging and informative discussion on all things real estate and property management. Tune in to TR Talks!

Ontario Rent Increase (00:02:54)

• Maximum percentage rent can be increased in Ontario
• Rental increase exemption for newer properties

Selling Investment Property with Tenants (00:04:40)

• Tenant support services
• Cash for keys option
• Notice to provide vacant possession
• Application for above guideline increase

Tenant Refuses to Move Out (00:08:45)

• Tenant does not want to leave
• Exhausting all options
• Issuing application for a merits hearing

Responsibility for Tenant Not Moving Out on Closing Day (00:09:40)

• Importance of proper communication and collaboration between landlord and tenant
• Signing of N11
• Application for an L2 hearing

Maintenance and Repairs (00:11:45)

• Encouraging mediation between landlord and tenant
• T6 application

Subleasing Property (00:12:45)

• Damage caused by tenant subleasing property without landlord's knowledge
• Importance of acting quickly in this situation

Team Rajpal
Instagram: @teamrajpal
Facebook:https://www.facebook.com/teamrajpal
TikTok: @teamrajpalrealestate
Phone: 647-875-8000
Email: info@teamrajpal.com
www.teamrajpal.com
Top 1% of 75,215 agents in the GTA*

 In this episode, Nick and Geeta take a look at the June 2023 market stats in the GTA. The team also discuss the current mortgage rates and the Q1 2023 rental report. Nick and Geeta provide insights into the trends they are seeing on the ground and offer tips for buyers and sellers looking to enter the market. Through their experience and expertise, they provide valuable information to anyone looking to navigate the real estate market.

Shownotes

• (00:01:15) Preliminary Market Discussion
• (00:04:21) Total number of Sales:
• (00:08:51) Mortgage Rates
• (00:12:54) Average Days on Market
• (00:13:00) Q1 2023 Rental Report

Team Rajpal
Instagram: @teamrajpal
Facebook:https://www.facebook.com/teamrajpal
TikTok: @teamrajpalrealestate
Phone: 647-875-8000
Email: info@teamrajpal.com
www.teamrajpal.com
Top 1% of 75,215 agents in the GTA*

In episode 25, "Facts without Stats," the team discusses the current market for buyers and investors, economic turnarounds, the rental market, investment properties, and selling private principal residents. Based on their experience in the current GTA real estate market. All facts, no stats!

They also touch on the importance of changing investment strategies when faced with economic changes and the need to understand user needs.

Shownotes

(00:02:00) Buyers and Investors 

• Discussion of the current market for buyers and investors
• Increase in transactions and sales
• Competitive nature of bidding on properties

(00:04:00) Economic Turnarounds 

• Discussion of how economic turnarounds can affect investments
• The importance of changing investment strategies when faced with economic changes

(00:06:00) Rentals 

• Discussion of the rental market
• High demand and multiple offers for rental properties
• Landlords becoming more picky and choosy in selecting tenants

(00:11:15) Investment Properties 

• Discussion of investors selling their investment properties
• Investors consolidating their portfolio and investing in pre-construction properties

(00:13:00) Selling Private Principal Residents 

• Discussion of people selling their own homes in suburbs
• People downsizing for various reasons
• Young professionals looking to upsize to townhomes
• Discussion of the current market for buyers and investors
• Increase in transactions and sales
• Competitive nature of bidding on properties

Team Rajpal
Instagram: @teamrajpal
Facebook:https://www.facebook.com/teamrajpal
TikTok: @teamrajpalrealestate
Phone: 647-875-8000
Email: info@teamrajpal.com
www.teamrajpal.com
Top 1% of 75,215 agents in the GTA*

In this episode of TR Talks, Geeta, Nick, and Xerxes discuss the basics of an offering when buying or selling a property. They cover the elements of an offer, including purchase price, deposit, closing date, and conditions such as finance and home inspection. The team also discuss the confusion around offer dates and the importance of understanding user needs. Finally, they touch on pre-construction deals and the differences between pre-construction and traditional resale deals.

Tune in to TR Talks for valuable insights into the world of real estate and property transactions.

Shownotes:

Elements of an Offer [00:00:50]

• Purchase price
• Deposit
• Closing date or possession date
• Conditions

Conditions [00:02:40]

• Finance
• Home inspection
• Status certificate (in the case of condos)

Multiple Offers [00:12:45]

• Overview of the confusion around offer dates
• What it means to have multiple offers
• Tips for buyers and sellers

Pre-construction [00:13:00]

• Overview of pre-construction deals
• Fulfillment of conditions
• Difference between pre-construction and traditional resale deals

Team Rajpal
Instagram: @teamrajpal
Facebook:https://www.facebook.com/teamrajpal
TikTok: @teamrajpalrealestate
Phone: 647-875-8000
Email: info@teamrajpal.com
www.teamrajpal.com
Top 1% of 75,215 agents in the GTA*

 In this episode, the hosts Geeta, Rajiv and Nick discuss the Tarion Warranty, a mandatory warranty that protects new home buyers in Ontario. They cover topics such as deposit protection, delayed closing and occupancy protections, and the importance of the Pre-Delivery Inspection (PDI) form. They also discuss common misconceptions about the Tarion Warranty and emphasize the importance of documenting findings in the PDI form. Throughout the episode, they provide valuable insights and tips for homebuyers and investors. Tune in to TR Talks for informative discussions on all things real estate in Ontario.

Shownotes

1. Tarion Warranty [00:01:25]

• Tarion Warranty is a mandatory warranty that protects new home buyers in Ontario
• Covers defects in work or materials, unauthorized substitution, and ensures the home is fit for living
• Covers up to the first seven years of moving in the home
• Three parts: first year warranty, second year warranty, and warranty from third to seventh year
• Pre-Delivery Inspection (PDI) is a statutory form that must be completed prior to occupancy
• Document the condition of the unit prior to taking occupancy
• List deficiencies that are incomplete, damaged, missing, or non-operational
• Ontario Builder Directory on the Home Construction Regulatory Authority (HCRA) website is a good tool to check the reputation of builders and how much warranty is left on a property

2. Deposit Protection [00:02:50]

• Tarion protects up to $100,000 on a freehold home as a deposit
• In case a builder goes bankrupt or breaches the contract, as agreed upon with the buyer
• For condo purchases, deposit protection is up to $20,000

3. Delayed Closing and Occupancy Protections [00:03:50]

• Builder guarantees a home that will be ready for the move-in date specified in the agreement
• Date can be extended under some circumstances by the builder
• Max reimbursement of $7,500 if delay closing is submitted and not enough notice is given in the first year
• Delay can be compensated for living costs such as hotels

4. Importance of PDI [00:09:10]

• PDI is an inspection that must be done prior to occupancy
• Documenting the condition of the unit prior to taking occupancy is crucial
• List deficiencies that are incomplete, damaged, missing, or non-operational
• Tarion provides a checklist on its website to ensure thorough inspection
• Appoint a designate for the inspection or go with a professional realtor
• Ontario Builder Directory on the HCRA website can tell you the reputation of the builder and how much warranty is left on a property

5. Misconception About Tarion Warranty [00:13:35]

• Tarion Warranty should not be ignored or thought of as useless
• Documenting findings in the forms is important as builders cannot get away with it and must fix the problems
• Builders want to ensure that their clients are happy and build their reputation
• They will cover and find solutions to fix those problems

Team Rajpal
Instagram: @teamrajpal
Facebook:https://www.facebook.com/teamrajpal
TikTok: @teamrajpalrealestate
Phone: 647-875-8000
Email: info@teamrajpal.com
www.teamrajpal.com
Top 1% of 75,215 agents in the GTA*

 In Episode 22, Geeta and Xerxes discuss the recent Bank of Canada rate hike and its implications for mortgage renewals and variable vs fixed rates. They also analyze the May statistics for home and condo sales, noting an increase in sales compared to last year but also mentioning that not all homes listed actually sold. They provide average price points for detached, semi-detached, and townhouses in different areas of Toronto. The team emphasize the importance of understanding the risks involved in buying or selling in the current market and advise against trying to time the market. They also advise sellers to reach out to agents at least six months before putting their homes on the market. Overall, TR Talks is a must-listen for anyone interested in the Toronto real estate market.

Shownotes

Bank of Canada Rate Hike [00:03:30]

• Geeta and Xerxes discuss the implications of the 0.25% rate hike
• How it will affect mortgage renewals and variable vs fixed rates
• They also discuss how salaries have not kept up with the cost of living and rate increases
• Xerxes notes that it's a warning shot from the Bank of Canada and that inflation has gone the wrong way
• Geeta adds that salaries have not gone up in line with interest rate hikes and that since 2001, interest rates have been the highest they've ever been

May Market Update [00:13:45]

• Geeta and Xerxes analyze the May statistics for home and condo sales
• They note an increase in sales compared to last year, but also mention that not all homes listed actually sold
• They provide average price points for detached, semi-detached, and townhouses in different areas of Toronto

Advice for Buyers and Sellers [00:17:05]

• Geeta and Xerxes emphasize the importance of understanding the risks involved in buying or selling in the current market
• They advise against trying to time the market and suggest moving within the same market
• They also advise sellers to reach out to agents at least six months before putting their homes on the market

Team Rajpal
Instagram: @teamrajpal
Facebook:https://www.facebook.com/teamrajpal
TikTok: @teamrajpalrealestate
Phone: 647-875-8000
Email: info@teamrajpal.com
www.teamrajpal.com
Top 1% of 75,215 agents in the GTA*

 In this episode, the hosts discuss common mistakes made by landlords and how to avoid them. They cover the importance of hiring experienced agents, adequately screening tenants, maintaining property, using standard lease agreements, and understanding landlord and tenant laws. The team emphasize that building a good relationship with tenants is crucial for a successful rental experience. Tune in to TR Talks for more informative discussions on real estate.

Shownotes 

• [00:01:05] Mistake #1: Not hiring experienced agents 
  • Collaborating with experienced agents is crucial
  • Avoid part-time agents and those with little to no experience
• [00:02:40] Mistake #2: Inadequate tenant screening 
  • Understand the tenant's financial background, credit report, and references
  • Check two landlords ago, not just the last landlord
  • Check online presence
• [00:05:20] Mistake #3: Neglecting property maintenance 
  • Repairs due to normal wear and tear are the landlord's responsibility
  • Upkeep of the property will generate better quality tenant applications
• [00:08:00] Mistake #4: Inadequate lease agreements 
  • The Ontario Standard Lease Agreement is the standard agreement
  • Understand landlord and tenant laws
• [00:11:00] Mistake #5: Lack of understanding of the landlord and tenant laws 
  • Understand the laws before representing someone
  • Tenants have rights and responsibilities
  • Landlords have responsibilities to maintain the property and respect the tenant's home
• [00:13:40] Building a good relationship with the tenant is important 
  • Tenants are more willing to cooperate when they have a good relationship with the landlord
  • Remember that landlords are working with people

Team Rajpal
Instagram: @teamrajpal
Facebook:https://www.facebook.com/teamrajpal
TikTok: @teamrajpalrealestate
Phone: 647-875-8000
Email: info@teamrajpal.com
www.teamrajpal.com
Top 1% of 75,215 agents in the GTA*

In this episode of TR Talks, Geeta speaks with Pamela Liang, an estates and trusts lawyer at Wilson Vukelich LLP. Pamela explains the probate process, including the certificate of appointment of estate trustee with a will and the estate administration tax. She also discusses how executors can sell property before obtaining probate and the importance of family dynamics in estate planning. Pamela dispels common misconceptions about estate planning, such as the belief that putting assets in joint tenancy with children avoids probate. She also covers topics such as capital gains tax on inherited properties, holograph wills, and powers of attorney. Geeta and Pamela discuss the top things to keep in mind for estate planning, including involving beneficiaries in discussions and choosing a responsible executor.

Don't miss out on this opportunity to plan for the future and protect your loved ones.

Shownotes:

• What is Probate? [00:02:40] 
  • Process by which the executor is given a certificate to act on behalf of the estate
  • Certificate of Appointment of Estate Trustee with a Will
  • Executor applies to court and pays probate tax (1.5% of deceased's assets)
• Selling Property Before Probate [00:04:25] 
  • Executors can sell property before probate is obtained
  • Sale can be conditional on probate being obtained
  • Probate can take 6-9 months but can be expedited with completed agreements of purchase and sale
• Family Dynamics in Estate Planning [00:07:50] 
  • Involve siblings or beneficiaries in discussions about real estate
  • Add dispute resolution clauses to documents to anticipate potential problems and avoid conflicts
• Common Misconceptions in Estate Planning [00:12:25] 
  • Putting assets in joint tenancy with children does not avoid probate
  • Landmark case of Pecore (2007) established a presumption that adult children on title are there for convenience purposes
• Capital Gains Tax on Inherited Properties [00:14:30] 
  • Principal residence exemption can be used for a principal residence
  • Leaving multiple properties can create a burden on children or executor to fund the capital gains tax
  • Life insurance policies can be designated to fund capital gains tax
• Importance of Estate Planning [00:17:40] 
  • Ensures assets are distributed according to wishes and protects beneficiaries from potential creditors or predators
  • Ensures minor children are taken care of by designated guardian and reduces stress for loved ones
• Holograph Wills [00:20:05] 
  • Handwritten wills that can be valid in certain circumstances
  • Must clearly outline the testator's wishes and be signed and dated
  • May need to go before the court for interpretation
• Powers of Attorney [00:22:00] 
  • Appoints someone to make decisions on behalf of the testator if they become incapable
  • Different types of powers of attorney for property and personal care
  • Helps avoid costly and time-consuming guardianship applications
• Top 3-4 Things to Keep in Mind for Estate Planning [00:24:00] 
  • Consider how assets should be distributed in different scenarios
  • Work with an estates practitioner to map out the structure and strategy
  • Consider creating a will in a different jurisdiction if there are assets outside of Canada
  • Choose an executor who is organized and financially responsible
• Finding the Right Estate Lawyer [00:28:30] 
  • Look for someon

Team Rajpal
Instagram: @teamrajpal
Facebook:https://www.facebook.com/teamrajpal
TikTok: @teamrajpalrealestate
Phone: 647-875-8000
Email: info@teamrajpal.com
www.teamrajpal.com
Top 1% of 75,215 agents in the GTA*

 In episode 19 of TR talks, Geeta, Nick, and Xerxes discuss tips and tricks for buying pre-construction in Toronto. They cover deposit structure, timing, and the importance of location, including factors such as return on investment, public transport, amenities, and open spaces. The team also share personal experiences and offer advice on how to make the most of your real estate investments. 

Show notes: 

• [00:01:20] Tips and tricks for pre-construction buyers 
  • [00:01:45] Good deposit structure
  • [00:03:20] Buy when it's right for you, not just at first launch
• [00:08:20] Importance of location 
  • [00:09:15] Return on investment in the location
  • [00:10:05] Consider public transport, amenities, built-in daycares, and open spaces
  • [00:12:40] Elevator wait times
• [00:14:10] Pre-construction for personal use 
  • Look for the best deal and the best return on investment

Team Rajpal
Instagram: @teamrajpal
Facebook:https://www.facebook.com/teamrajpal
TikTok: @teamrajpalrealestate
Phone: 647-875-8000
Email: info@teamrajpal.com
www.teamrajpal.com
Top 1% of 75,215 agents in the GTA*

Why do you need a Realtor? In this episode, Rajiv, Nick, and Xerxes talk about why it's important to have a real estate agent with experience and expertise to help you navigate the market and find the best deals. They emphasize the need for transparency and educating clients about the real estate process.

They also discuss how changing laws and regulations impact the industry and how agents need to stay ahead of the curve. The team emphasizes providing solutions to clients, not just selling properties, and how this approach can lead to long-term success.

Throughout the episode, they stress the importance of working in the client's best interest and providing personalized service. They even touch on the role of technology in the industry and how it can enhance the client experience.

If you're interested in purchasing Real Estate in Toronto, find out why you need the experts on your side.

Shownotes

The Value of a Realtor [00:00:30]

• Importance of market knowledge
• The significance of customer service
• Knowing the forms and paperwork

Educating Clients [00:01:55]

• Empowering clients with information
• Presenting options for clients
• The importance of being solution-based

Experience Matters [00:05:50]

• The importance of looking back at history
• The significance of experience
• Evaluating an agent's report card

Adapting to the Environment [00:11:15]

• Adapting to changing laws and regulations
• Knowing the market and avoiding emotional reactions
• The importance of clarity and understanding in multiple offer situations

Conclusion [00:14:05]

• The role of a realtor in putting a sale together
• The importance of understanding rules and educating clients
• Creating information from data

Team Rajpal
Instagram: @teamrajpal
Facebook:https://www.facebook.com/teamrajpal
TikTok: @teamrajpalrealestate
Phone: 647-875-8000
Email: info@teamrajpal.com
www.teamrajpal.com
Top 1% of 75,215 agents in the GTA*

In episode 17, Geeta and Xerxes sat down with Julie Cowan, (relo-to.com) a relocation specialist based in the Greater Toronto Area. Julie's boutique firm, Relo-To, provides a concierge-level experience for individuals and families who are relocating to the Greater Toronto Area for both personal and professional reasons.

Throughout the episode, Julie shares her insights on what it takes to be a relocation specialist, the challenges of relocating to a new neighborhood, and the importance of working with a cohesive team of professionals to ensure a smooth transition.

If you're considering moving to Toronto or facing challenges related to immigration, make sure to check out this TR Talks podcast.


Show notes

• Introduction 
  • Julie specializes in creating a concierge-level experience for individuals and families who are relocating here from across the world, both for professional and personal reasons.
  • Relocations are a life event, and Julie keeps the entire family in mind as she helps navigate the entire process.
• Qualifications for a Relocation Specialist [00:04:50] 
  • Doctorate in a relevant field
  • Proven track record of research and publication
  • Demonstrated ability to work collaboratively as part of a research team
• Challenges of Relocating to a New Neighborhood [00:07:20] 
  • People don't get a very good understanding of their neighborhood options overall and are ready to make a knee-jerk decision too fast without taking into consideration budget, commute times to work, transportation networks, etc.
• How Relo TO Helps with Relocation [00:09:45] 
  • Julie recommends contacting her ideally two to three months in advance of the move, but she has worked with clients who needed help more quickly.
  • By working with Relo TO, clients can get organized from an administrative perspective before beginning the home search.
  • Relo TO helps clients find temporary housing during the search and handles the household goods move.
  • Julie's team can help clients find the right property and get into the right home by doing research and setting them up for success.
  • Common misconceptions about working with a relocation specialist include thinking that services like this are only affordable for a large organization or that only people moving globally would have the resources to support a client in this situation.
• Conclusion [00:17:18] 
  • Geeta and Xerxes emphasize the importance of having a professional such as Julie on your team when making such a life-changing move.

Guest Links:

Julie Cowan, Canadian Relocation Specialist:
Address: 42 St Clair Ave E, Toronto, ON M4T 1M9
+647 961 4024

Team Rajpal
Instagram: @teamrajpal
Facebook:https://www.facebook.com/teamrajpal
TikTok: @teamrajpalrealestate
Phone: 647-875-8000
Email: info@teamrajpal.com
www.teamrajpal.com
Top 1% of 75,215 agents in the GTA*