Sold in the 6ix - Toronto Real Estate

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This episode originally published in March, 2023.

You may have seen or read about this story on CBC. But wait until you hear all the details.

 CBC Toronto been running a series of articles on real estate fraud of a different kind the last couple months. Thieves posing as owners of homes, selling the properties, and disappearing. Only to have the real homeowners find out weeks later.

 Recently the Real Estate Council of Ontario (RECO) sent a memo to is members reminding them they’re required by law to verify the parties in any transaction.

 It’s happened at least seven times in Toronto, most recently just weeks ago.

 It’s scary, it’s audacious, it’s still happening, and as frauds go, this one is disturbingly simple.

 Guest: John Lancaster, Team Leader, Investigative Unit, CBC News
Read the CBC stories on this fraud

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Recorded in Sep 2023

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This episode was first published in August 2022.

They're a weekend tradition across North America... especially in the summertime.
The yard sale or garage sale is a great chance to "edit" or clean out that storage room you want to turn into a home office.
Depending on what you're selling, yard sales can also be very profitable.

In this special edition of Sold in the 6ix, host Desmond Brown talks to the woman who literally wrote the book on garage sales. Ava Seavey is the author of Ava's Guide to Garage Sale Gold. It's an expert's guide to organizing, preparing for and presenting garage, moving, yard, estate etc. sales. Her book is full of tips on how to maximize profits from your sale and so is this podcast episode.

As the title suggests, there is a treasure trove of profitable possibilities when hosting a Saturday morning sale.  But there is a strategy, in fact there are a few great tips you'll want to hear about.

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Ava Seavey can be reached at:
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@drtvqueenbeec

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Recorded in Sep 2023

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This is a flashback to episode 64 of Sold in the 6ix originally published in Spring 2023.

Sometimes things can get nasty. Wrong. Dirty. 

Real Estate agents do their best to protect their clients in every conceivable way. But sometimes, even after a fair deal has been signed, things can happen. In extreme cases you can have one side try to bully the other into an even better deal. 

In this episode Des connects with lawyer Gavin Tighe of Gardiner Roberts to outline a story where unscrupulous buyers tried all the dirty tactics they could find to muscle their way to a better deal. 

Guest: Gavin Tighe, Senior Partner, Gardiner Roberts LLP

Gavin has been certified by the Law Society of Ontario as a Specialist in Civil Litigation since 2003 and has appeared as lead counsel at all levels of Canadian Courts including the Supreme Court of Canada. He has significant experience successfully representing clients in several Canadian provinces and before tribunals in both Canada and the United States

Gavin Tighe
Email | LinkedIn | X | Gavin's podcast Beneath the Law

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Recorded in Sep 2023

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In this episode of Sold in the 6ix, Desmond Brown discusses two cases of unethical behaviour by real estate agents in Ontario. 

The first case involves an agent who allowed a buyer to start renovations on a property before the sale was finalized, resulting in a $10,000 fine. 

The second case involves an agent who repeatedly violated regulations, including altering contracts without the seller's knowledge, failing to secure proper signatures for price reductions, and relisting a property without a valid agreement. Despite numerous violations, the agent was only fined $30,000 and ordered to complete an ethics and business practices course. Brown emphasizes the importance of choosing a reputable agent and ensuring all agreements are in writing.

Listen For:
3:13 – Unauthorized Access and Renovation
10:10 Falsification of Contract Dates
12:09 Unauthorized Price Reduction and Extension

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Recorded in Sep 2023

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A house is more than a home; it's a story waiting to be told.

In this episode, Des checks in with veteran home inspector Richard Gaughan in a deep dive into the evolving dynamics of property evaluation. 

Amidst a market that once raced past such precautions, they explore how buyers and sellers are now embracing the protective reassurance of detailed home assessments. 

Richard's 30 years of expertise reveal not just changing trends, but the intricate dance of inspections, renovations, and real estate savvy—all brought into a narrative that demystifies the once-daunting aspects of asbestos, knob and tube wiring, and the true bones of a house. 

Listen For:
5:07 The Importance of Buyer Inspections
9:16 Focusing on Buyer Priorities
14:39 Guidance for Buyers
27:52 Pre-list Home Inspections Value

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Recorded in Sep 2023

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In this episode we dive into the innovative business model of Openroom, founded by Weiting Bollu.

Openroom is revolutionizing the rental market! It’s an online database that has the names of tenants and landlords who have been found at fault by the Landlord and Tenant Board.

Openroom helps with the due diligence that all landlords and tenants should go through before agreeing on a residential lease, and in just one year has hosted almost 2 million searches.

With a backlog at Ontario’s Landlord and Tenant Board of 8 months to a year, Openroom helps landlords and tenants avoid this often costly tribunal stage.

Guest: Weiting Bollu, Co-Founder & CEO, Open Room
Website | Instagram | TikTok

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Recorded in Sep 2023

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Make real estate investment your new reality.

Desmond and real estate guru Todd C. Slater explore the path to investment success for the average person. They look at the significance of defining your investing "why," the strategic approach to financial readiness, and the smart utilization of home equity to kickstart your investment journey.

Des and Todd walk you through the practicalities of choosing investment properties, focusing on markets outside the metropolitan areas for better affordability and returns.

From discussing market shifts and highlighting the power of real estate as a tool for building generation wealth for anyone looking to make their mark in the real estate investment sphere, Des and Todd present a roadmap for this reality.

Listen For:
1:20 The Importance of Knowing Your 'Why'
5:16 Choosing the Right Investment Property
11:06 The Goal of Breaking Even vs. Profit
14:39 Real Estate Investment Success Stories

Guest: Todd C. Slater
For over 30 years, Todd C. Slater has been a leader and innovator in the real estate world. Todd was one of the top Realtors Worldwide within the RE/MAX network, with a focus on protecting and educating his clients every step of the way. Todd negotiated thousands of transactions throughout his career.

Connect with Todd:
Email | YouTube

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Recorded in Sep 2023

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It’s no secret Canada’s over 65 population is swelling. With 7.6 million Canadians now aged 65 or older, the importance of having affairs in order is more important than ever.

Guest Garry Cass explains the difference between a power of attorney and a will, and the importance of updating wills regularly. He also discusses the complications that can arise when someone dies without a will, and the challenges of having family members on the title of a property.

Cass advises you to be proactive rather than reactive in estate planning, and to treat every will as if it's the last one you’ll ever make.

Listen For
1:31 The Critical Role of Wills and Powers of Attorney
9:14 Real Estate Considerations in Estate Planning
7:02 Executor Selection and Responsibilities
15:02 Challenges of Dying Intestate

Guest: Garry Cass, BA, LLB, TEP, Barrister & Solicitor
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Recorded in Sep 2023

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Desmond and his guest Tim Hudak of OREA explore the complexities of Ontario's housing market, starting with a focus on the affordable housing report. 

A few years ago, the Ontario government announced an ambitious plan to address the housing crisis, aiming to build 1.5 million homes over the next decade. 

Despite challenges such as COVID-19, supply shortages, and rising costs, progress has been made, with the Ontario Real Estate Association (OREA) analyzing the government's efforts in implementing the task force's recommendations. 

Beyond housing, the conversation touches on various topics, including the impact of high interest rates, labour shortages, and the potential for converting commercial spaces to residential use to boost housing supply. 

They also discuss the importance of addressing NIMBYism, the need for more efficient land use, and the role of transit-oriented development in creating more affordable housing options. 

And they cover OREA's wellness program for realtors, the upcoming Reality conference, and the broader implications of these issues for Ontario's economic and social fabric. 

Listen For
4:51 The Impacts of High Interest Rates on the Housing Market
7:43 Strategies to Boost Housing Supply
11:47 Challenges Posed by NIMBYism
26:12 OREA’s Wellness Program and Industry Initiatives 

Guest: Tim Hudak
X |  LinkedIn 
OREA Links: X |  LinkedIn  

REALiTY 24 Conference (to register and to see the full list of speakers and the agenda): https://realityconference.ca/ 

OREA’s latest housing supply report titled Analysis of Ontario’s Efforts to Boost Housing Supply: https://www.orea.com/advocacy/Housing-Supply 

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Recorded in Sep 2023

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In this episode Des interviews Ashley McInnis, a real estate agent who built a laneway house in Toronto. 

McInnis shares his experience with the process, from obtaining permits to dealing with construction and financing. He explains the project cost around $350,000 for the laneway house itself, plus additional expenses for renovations to the main house and landscaping, totaling around $500,000. 

Despite the high cost, McInnis believes it's a good investment, offering a flexible space that can be used for family, work, or rental income. He also discusses the challenges of navigating city regulations and the importance of considering design and functionality. 

Listen For
2:56 Getting Started and Considerations
5:02 Design and Functionality
8:34 Budget and Costs
12:41 Permit Process and Neighbour Relations 

Guest: Ashley McInnis
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Recorded in Sep 2023