City Wide Professionals Inc.

Year Six

2011-12-31T21:21:00.001-08:00

I am extraordinarily late in posting my annual entry this year. The past twelve months have been a busy one for City Wide Professionals. We marked a year of ever increasing values in our transactions as prices continued to march on and defy expectations.

The New Year will be interesting as usual as the number of listings are expected to increase and the market to be tilted more towards the buyers. But, as have been shown in the past, anything can happen.

Regardless of what the market does, we will continue to march to our own beat. We will continue to provide the outstanding customer service that our clients have come to expect. We will continue to dedicate our utmost expertise to help our clients achieve the very best.

Here's a toast of the best champaign to 2012!

John Tran
Broker of Record

Year Five

2010-12-11T07:28:00.000-08:00

I'm a little late in writing my annual post on this blog as we enter our fifth year. The past year for the brokerage has progressed at the usual comfortable pace. We saw one representative decide to leave real estate while another decide to enter the profession. I continue to value, appreciate and thank each and everyone who continue to support us.

The market during the past year saw lots of strength in the first half but weakness into the second half. When compared to 2009, sales this year in general have decreased month after month since June, while prices have maintained modest increases. The market will do what it does and we will continue to do what we do with enthusiasm, professionalism and care.

The industry saw a major development that could change the way many brokerages operate in Canada. A settlement was reached between the Canadian Real Estate Association (CREA) and the Competition Bureau, that will allow listings to be posted for a fee, without further representation. What this means is that sellers will be able to pay a fixed price for a posting service only, whereby buyers and other realtors can contact them directly. The brokerage posting the listing would still be liable for its accuracy. There will be possibilities for new business models but also challenges should something go wrong.

The coming year will surely bring both opportunities and adversity to both the industry and the brokerage.

We are ready.

Year Four

2009-12-08T20:26:00.000-08:00

Keeping with tradition, this is my yearly entry on this blog. Today marks year four of City Wide Professionals! The past year has most certainly been interesting. An expected downturn has quickly turned into a strong recovery, mainly due to ultra low interest rates. Combined with a lack of listings, the 2009 market saw multiple offers and significant sales and price increases over 2008.

City Wide Professionals is now four professionals strong! Not phenomenal growth by any stretch of the imagination, but a good milestone nonetheless.

The coming year will surely bring many changes, both to the real estate market and City Wide Professionals. The advent of higher interest rates, the introduction of the HST in Ontario and the continued volatility in the financial markets, will no doubt impact the real estate market. Although we would love to see prices go up forever, the reality is that at some point, a moderation in prices will not only be inevitable, but will even be healthy for the market.

As for City Wide Professionals, we will continue to march forth. This coming year may well be the year we branch out in search for a new home for the brokerage. One thing is certain - there will be many tough decisions to be made.

I aspire to write more on this blog, but you can be assured that I will have an annual update again next year!

Year Three

2008-12-08T19:21:00.001-08:00

Today marks the first day of year three and onwards into a year of economic downturn, volatile stock markets and an expected downward spiral for home prices and sales. Though we expect a difficult year ahead for all in the industry, we will keep moving like we always have and always will. Our extremely low overhead gives us an edge over others. We look forward to helping all of our buyer and seller clients. In a tough market, there are strategies for both buyers and sellers and we would love to share them with you should you give us the opportunity.

Year Two

2008-01-20T07:07:00.000-08:00

Our first anniversary has come and gone without much fanfare. It's not that there's nothing to celebrate, but that's just my style for now. The past year has seen some ups and downs but by and large, it was what I expected. We'll keep on rolling.

Milestones

2007-09-24T20:41:00.000-07:00

City Wide Professionals Inc. is now three professionals strong! Hurray! Not explosive growth by any measure but I'm happy nonetheless. Furthermore, a professional other than me has made his first sale! Hurray! These are important milestones to a small brokerage like ours.

RECO Inspection

2007-05-18T14:08:00.000-07:00

I had my first RECO inspection a couple of weeks ago. RECO stands for Real Estate Council of Ontario - the regulatory body that governs the real estate industry in Ontario.

I have to admit, I was a bit anxious leading up to the meeting with the inspector. Being the first time through such an inspection, I didn't fully know what to expect. My books and files are very organized, so there was nothing for me to worry about, but as with anything, the first time is always nerve-wrecking!

The inspection was very stringent and throrough, but educational. The inspector was very knowledgeable and had lots of practical advice for the proper setup of a brokerage's records. I needed a couple of minor adjustments but otherwise everything went very well.

It is good to know that inspections like these serve the purpose of not only educating brokerages, but in the process, help to protect consumers. This value of protecting consumers is what I feel strongly about, so I welcome any future inspections. My books are always ready for inspection by RECO.

Progessing Well

2007-04-20T14:13:00.000-07:00

It's been almost six months since starting. I have been busy and things are progressing well, albeit slower than I hoped. But, that's ok. I now have made a couple of transactions and have one professional onboard. It's still a learning process - lots of paperwork and accounting but worth the effort because I'm learning first hand what it takes to run a brokerage!

Registered!

2006-12-11T19:19:00.000-08:00

After more than two months waiting and at times with paperwork flying back and forth, City Wide Professionals Inc. is finally registered as Toronto's newest real estate brokerage! What disappointed me a little was how the regulator could delay the registration by one whole weekend, when I submitted the paperwork over two months ago. That doesn't matter now - City Wide Professionals Inc. is alive!

I look forward to the first showing, the first listing, the first sale and of course, recruiting the first professional into the brokerage other than me!

December 8, 2006

2006-11-22T21:10:00.000-08:00

A modest beginning...