Michael Tudorie

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BUSINESS BASICS

Started as a Realtor in: Early 2010

Specialization: Vancouver West, Vancouver East, Burnaby, New Westminster, and Richmond.

One-piece of advice for your clients: Hire the right Realtor. Do your due diligence and interview 3 or 4 agents; it will make or break your experience and your bottom line.

Why Dexter Associates Realty? Michael previously worked in the hospitality industry in boutique hotels. Dexter is a boutique brokerage so it was a perfect fit. He doesn’t see himself working for one of the larger companies.

“We had our property listed and went through two different Realtors without any success over an eight month period. Once we met Michael our home sold within a month. We were very impressed. He worked very hard and had a lot of action in a short amount of time.” -Ian Brown, Client

Q & A

1. Do you have a favorite client experience? I met this older couple who never felt comfortable with a realtor, but were considering selling their home. I spent some time with them to talk about it. We ended up listing their home and selling within two weeks. They had purchased their home 25 years ago and are now financially set to live comfortably through retirement. They stayed within their neighborhood, moving to a nearby senior’s home where they have full care services. I still visit them now.

2. What is your favorite success story? A client had their house on the market for the past year and a half with no adjustments or changes to the listing. When I took the listing over, I was able to market it properly, promote it through showings and sold it at their asking price within 45 days.

3. What inspired you to be a Realtor? I was in the hospitality industry and I would have had to move away if I wanted to move up. It seemed like a natural transition to move to real estate; another “people” job. I would have loved to start earlier, however, I feel the background I have has added to my success.

4.What differentiates you from the 11,000 licensed real estate agents in the Greater Vancouver area?

  1. Business skills to understand people’s needs and wants.
  2. Trust
  3. Follow up

I don’t just focus on the client’s immediate real estate needs, but provide solutions for the whole experience. For example, I had a client with lots and lots of stuff. They were very concerned with packing and moving it. I listened to their needs and I recommended a company I knew who could help organize and pack everything. They had no idea these companies existed. They were so happy with the referral. It only took four hours for them to complete; something the clients swore would have taken them a week to do themselves.

I stay in contact with my clients in various ways; this October I partnered with a landscaping company to do a pumpkin delivery – Fun things like that.

I also have a special interest in helping new immigrants, as I have been there myself. I have dealt with various cultures and customs and can help ease any of the challenges that can be experienced during the transition of being new to Canada.

"I have worked together with Michael at Dexter and have found him to be a very sincere honest guy. We worked closely on a specific project and he came across as one of the most hardworking realtors I know. Michael’s philosophy is building long term business relationships with buyers and sellers and making sure that they enjoy the whole experience from beginning to end. He’s a great guy!”-Kathrine Light, Realtor, Dexter Associate

PERSONAL SNAP SHOT

About: Michael is married and has a 5-year-old son. Michael spent nearly 14 years living in Halifax followed by 2 years working on a cruise line as administration staff before he moved to Vancouver. He has bought and sold many of his own properties within the Kits area over the past 17 years.

He volunteers with big brothers in Vancouver and mentors a 10-year-old within the school program. Michael also coaches soccer and has changed this year from his usual 12 to15 year-old team to working with a women’s team, The Westside Wild.

He’s Unique because…

  1. If he weren’t a Realtor, he would be playing right wing in the European First division football league.
  2. He listens to positive affirmation cd’s in his car, but more commonly has Team 1040 on to listen to the Canucks.

Likes (If you had more time, what would you do more of): Spending time with family and travel

Loves (can’t live without): Tim Horton’s and the Canucks!

THE EXTRAS

Michael loves meeting different people and understanding how he can help meet their needs. He enjoys the challenges each and every client presents. He prides himself on his resourcefulness to help provide options so that clients can make the best decision for themselves.

Beyond the regular real estate educational requirements, Michael is active in marketing; monitoring what has sold or been listed every day. Even though many people in Vancouver think they understand real estate, he cautions people to understand that professionals can help guide and support the process with correct and reliable information.

Michael believes clients are looking for a Realtor to solve their problems, eliminate the worry and to be proactive in the buying or selling process. He listens to clients and wants to ensure they know he has the capabilities and can be trusted to get the job done.

Contact Michael Learn more: Vancouver Sun Interview with Michael  

 

Make the holidays merry with a little “Sex in a Pan!”

Ingredients

Original recipe makes 1 – 9×13 inch pie 1/2 cup butter, melted 1 cup chopped pecans 1 1/2 cups graham cracker crumbs 1 (8 ounce) package cream cheese 1 cup confectioners’ sugar 4 cups frozen whipped topping, thawed 1 (3.9 ounce) package instant chocolate pudding mix 1 (3.4 ounce) package instant vanilla pudding mix 3 cups milk 1 (1 ounce) square unsweetened chocolate, melted

Directions

Preheat oven to 350 degrees F (175 degrees C).

  1. To Make Crust: In a medium bowl, mix together butter, pecans and graham cracker crumbs. Pat into a 9×13 inch baking pan. Bake in preheated oven for 20 minutes or until lightly browned; allow to cool completely.
  2. In a medium bowl, beat together cream cheese and confectioners sugar until smooth. Fold in 1 cup of the whipped topping. Spoon mixture into graham cracker crust.
  3. Prepare chocolate and vanilla puddings as per package directions, but with 1-1/2 cups of milk each. Allow pudding to set before pouring on top of the cream cheese layer. Spread remaining 3 cups of whipped topping over pudding layer; swirl melted chocolate throughout whipped topping.
  4. Cover and refrigerate for about an hour. For leftover pie, keep frozen in a tightly covered container. When ready to eat, just cut off a piece and allow to thaw; keep rest frozen.

Shaz Karim

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BUSINESS BASICS

Started as a Realtor in: Late 2008, right when the market took a downturn, he had to work hard to create a unique foundation.

Specialization: Residential detached/attached all Vancouver East & West, downtown Vancouver, Burnaby, New Westminster, and Tri-cities.

One-piece of advice for your clients: Take the time to find the right Realtor. When you do, it’s important to listen and have trust in them and ask questions along the way.

Why TRG The Residential Group? It’s a boutique real estate brokerage, which allows Shaz to be Shaz. He can invest in his brand and put efforts to promote him and his services. Six brokers with over 120 years of real estate experience own the business and they provide mentorship to all of their agents. Industry involvement is also important to him and the company, one of the owners was the former president of the British Columbia Real Estate Association (BCREA) and the Real Estate Board of Greater Vancouver (REBGV).

“Our experience working with Shaz has been a pleasant surprise. His approach is refreshing and holistic. He is the consummate professional with a personalized approach, always reinforcing the feeling that he is on your team. His level of organization, attention to detail and high standard of customer service distinguish him from others. From our perspective, he has set a new standard and we look forward to continuing working with Shaz as our family grows and our real estate needs do too.” Prashant Ohri & Anjana Moitra-Ohri, Clients

Q & A

1. What differentiates you from the 11,000 licensed real estate agents in the Greater Vancouver area? My background. I have work experience in management and strategic marketing, that’s allowed me to develop skill sets, elevating the customer service experience. I’m strategic, detail-orientated, and marketing focused. In particular, when it comes to selling homes, we develop a plan and materials to target a specific demographic that the homes fit. My custom features sheets, targeted email campaigns and single property websites are a few examples of my marketing touch points compared to the cookie-cutter traditional approach.

It’s a competitive environment, which I think is good. It provides an opportunity to push and challenge the boundaries. For me, entering the industry in a down market was a good test, and forced me to show my unique attributes in order to set myself apart.

2. What is your favorite success story? When I started in real estate, my first client was my mom. A couple came in to view the home and didn’t have a Realtor. I spent some time to get to know them and understand their needs. We realized this home wasn’t right for them. After my open house, I took them for a drive around to show them some different neighborhoods. Two weeks later I got a call from them asking me to be their Realtor. They didn’t have a mortgage broker yet, so I set them up with a contact, got them pre-qualified and showed them several homes. We soon found a home put in an offer and purchased. They then referred me to their brother who wanted to sell. My mom’s listing actually resulted in getting me three clients and my business just grew from there.

3. What inspired you to be a Realtor? Three things:

  1. My dad was in real estate in the 80’s and it really shaped who I am today.
  2. Having had personal experiences with a few different realtors, I felt that the whole process could be done better. I thought that, if I were ever to get into Real Estate, I could change it to be more effective.
  3. I have a background that compliments real estate well. My management, marketing and communications experience is something that really sets me apart…there aren’t many real estate agents that have my type of resume.

4. What do you think clients look for in a real estate agent and what do you think clients should look for in a real estate agent? I think clients look for someone that is personal, understands their needs and goals, and someone that is confident.

What they should also consider when seeking a real estate agent is what added value they will bring. Look at the services offered and the type of person they want to work with.

Each buyer has their own individual needs. Whether it be for investment, first time buying, or moving up the property ladder, I’ve developed a unique program to deliver based on their needs.

Sellers, I mentioned, we take the time to develop a plan that specifically targets the demographic we are focusing on. A Realtor should be investing their time and resources to represent the property they are marketing. Out of the 11,000 realtors how many are full-time and make the investment that is needed for their clients.

I do things to help educate my clients. For example, I have a great deal of experience reviewing Strata documentation. Clients may not understand them, so I help to break them down to their simplest form. I let them read first and then we review together and make a summary list of questions we have regarding the documents. The better we understand these documents, the more confident we are in moving forward in purchasing the property.

“Sincere, amazing and thorough Realtor to work with. He is a very thoughtful person. I can always count on him; he has always been there for me. A professional, dynamic and I repeat, amazing person!” Angela Chase, Realtor, TRG The Residential Group

PERSONAL SNAP SHOT

About: Shaz grew up in North Burnaby and lived and went to school there for over 20 years. He now lives in Vancouver and is very familiar with many of the downtown residential buildings. As well his main office is located in downtown at 849 Homer Street. He enjoys running, biking, skiing, travel and generally being outdoors in the summer months. His background is in marketing, sales, and management, which he is actively applying to his real estate career by creating a unique value proposition for his clients.

He’s Unique because…

  1. He is a strata guru. Having sat on a number of different councils, Shaz has gained a thorough knowledge of strata process and documents
  2. If he weren’t a real estate agent he would be in brand development, strategy and communications.

Likes (If you had more time, what would you do more of): He likes getting up early in the morning and going for a good workout and having a good breakfast. He likes to try to have a balanced day, challenging to do in the real estate industry, but he make sure he takes time out to breathe, de-stress and start fresh.

Loves (can’t live without): Shaz loves food from different cultures, trying diverse and new things as well as exploring anything.

THE EXTRAS

He believes his clients see him as an up front, organized, strategic and strong communicator. He feels that his marketing background is one of his best features. He loves that every day is different and that he can never know what to expect or who is going to call him next. His least favorite part of the job is all the tedious administration. Shaz would much rather be hanging out with his client than managing documents; there’s a lot of paperwork in the job which clients don’t see, but its necessary.

There isn’t one type of clientele that Shaz works with, “Everyone is so different” he says. However, last year most of his clients were first time homebuyers or clients starting a family that needed to upgrade to more space.

He keeps up with his professional development courses and fits in more than the minimum required credits. He attends speaking engagements and industry discussions to learn and understand different opinions being shared within the industry.

Contact Shaz

CMHC Housing Outlook Recap

I was graciously invited to attend the CMHC Annual Housing Outlook Conference by Lance Jakubec, Senior Consultant, Research and Information Transfer with CMHC.  He was an exquisite speaker, whom I have had the pleasure of listening to for the second time this year.  Engaging, energetic and informative.  His main objective was to promote and highlight the features of CMHC’s Canadian Housing Observer, a 150+ page document that covers an in-depth look at the housing marketing research collected by CMHC and other real estate bodies.

In fact, all the details provided by the CMHC Market Analysts at this year’s conference are available in the annual publication with additional data and related reports, articles and information.  This “best selling” book, by shear volume of publications distributed, is available for free in print and online.  Expect to see the 2012 edition to be available soon.

Here’s a summary, having three top economists and market analysts sharing some key findings from 2012 and what trends we should be expecting for 2013:

Carol Frketich, Regional Economist, CMHC Paul Fabri, Senior Market Analyst, CMHC Robyn Lake, Senior Market Anayst, CMHC

  • Posted Rates are to remain between 5% and 5.75%; Variable to between 3-4%.  US expects rates to remain low into 2015.
  • Employment levels are up, but have not seen the same increase in wages.
  • Expect to see a positive interprovincial migration to BC for 2013 due to the unemployment gap widening unfavourably for Ontario and the price gap narrowing compared to Alberta and Ontario.
  • We are still maintaining international migration, but it is shifting from investors to skilled workers.
  • In 2036, Canada expects to have 1.5-Million Canadians aged 70-74 planning to live at home.  Plans need to be implemented now to develop homes that are accessible, easily adaptable, but not institutional – aka Flex Housing.
  • Buyer’s Market expected at least until mid next year.  Currently sitting with 9 month supply available for sale.
  • The flattening of housing prices are partly attributed to sales shifting from higher priced homes to more moderately priced homes.
  • Biggest drop in single detached home sales have been seen in West Vancouver (-48%), Richmond (-45%), Vancouver West Side (-38%), White Rock (-38%), however homes in Shaughnessy, Point Grey and the University Endowment Lands have held firm with their prices.
  • Supply of homes is elevated, but well below previous peak in the 1990′s.
  • Home sellers are choosing to remove their listing rather than taking deep discounts.
  • House prices are down moderately in all areas, except West Side Vancouver and Richmond noticing larger declines with -7% and -8% respectively, experienced mainly due to run-ups prior to the decline.
  • An estimated 3.5-Billion will be spent on renovations in the lower mainland, with the expectation that home owners will try to “love it” rather than “list it”.
  • Housing Starts are to remain consistent to this year’s 19,000, with household growth close to 17,000.
  • Fastest growing household type is Multiple Family (more than one family living in a dwelling), with strong increases in Langley, West Vancouver, and White Rock.
  • Townhomes are a potential growth market with interest coming from the baby boomers.
  • Rental demand is expected to remain strong with rents rising moderately and vacancies at a low 2%.
  • 20-34 Demographic experiencing higher rental rate due to mobility
  • A higher percentage of adults are living at home with their parents in Vancouver in comparison to the rest of the country.  A surprising 12% of 30-34 year-olds still live at home versus 9% on a national average.  24% of 25-29 year-olds live at home nationally compared to over 30% in Vancouver.
  • Investors are holding on to properties for longer periods of time (2-5 years) rather than flipping.
  • The investors’ share is highest in the University Endowment Lands (48%), Downtown Vancouver, (43%), Langley (36%), City of Vancouver (34%), Port Moody (28%) and Surrey, Maple Ridge and City of North Vancouver (27%).
  • New condo sales down by 52% with 11 months of supply; 1/2 as much from previous peak in 2008/09.
  • Condo prices are holding well with an average price per square foot of $515, however, this does not include certain forms of discounts being offered by developers.

To learn more or get your free copy of the observer visit CMHC or call 604-731-5733.

Endless Possibilities

Admiral’s Walk 102, 10631 No 3 Road, Richmond

List Price: $229,000 Floor Area: 1158 Unit: 1 bed, 2bath Maintenance Fee: $352.27 Taxes: $1013 MLS: V975838

An oldie, but a goodie.  This 38-year-old building, although aged and not really modernized, has a vibe all on it’s own.  Once the Show Suite at Admiral’s Walk, this unit is like no other in the two building complex…or Richmond for that matter.  Nestled in the quietest southwest corner with easy access to parking, the courtyard, pool, clubhouse, community gardens and RV parking, this condo unit could be transformed into a wonderful home.  It will take work with head to toe renovations required, but with the size, layout and current design, the possibilities are truly endless.  A buyer can consider closing the den to have a second bedroom, opening the kitchen up to the dinning and living room, sectioning off the dining room to create separate dining room access, or design a custom built-in floor to ceiling cabinetry in the area between the kitchen and the dining room…and more.

With direct access to the courtyard, ample closet and storage space (one storage unit within the unit and a second located down the hall), the space feels more like a townhome than a condo.

PROS

  1. Lots of living space – great potential to make the space your own.
  2. Unit has capability of adding in-suite laundry (but has to be ventless dryer).
  3. Lots of storage space.
  4. Great location – close to amenities, shopping and transit.
  5. Active and engaged strata hosting events.
  6. Clubhouse with pool and private garden plots.
  7. Deep freeze added to kitchen.
  8. Great placement in complex with direct access to courtyard.
  9. Sun room and patio area.
  10. Large bedroom with two large closet spaces.
  11. New piping (horizontal) being installed now.

CONS

  1. Needs considerable amount of renovations, mainly new flooring and bathroom upgrades.  Possibly new wall designs and other conversions.
  2. Restrictions – No pets, No rentals, 16+.
  3. Wood fireplace may be changed to electric (this is not necessarily bad, but may add to costs).
  4. Old building and not aesthetically appealing inside common areas.
  5. Older building may have more costly improvements needed over time.
  6. Condo fees are higher, however, they do include heat, hot water and sewage.

MORTGAGE NOTES

Example at 3.09%; List Price: $229,900

High Ratio Loan (less than 20% down payment); 25-year amortization Down payment (5%): $11,495 Mortgage Amount: $218,405 Default Insurance (2.75%): 6,006.14 Loan Amount: $224,411.14 Monthly Payments: $1,072.41 Approximate Income Required: $58,000

Conventional Loan (20% or more down payment); 30-year amortization Down payment (20%): $45,980 Mortgage Amount: $183,920 Loan Amount: $183,920 Monthly Payments: $878.91 Approximate Income Required: $48,000

From my home to yours - Irene