Luxury Real Estate Blog

The "Box"

Jun 30, 2012 — Len Miliaris, Forest Hill Real Estate Inc. Brokerage

I was approached by a client that was interested in upgrading his housing.  The family has 2 children and they are ready to attend a school that is believed to have a better calibre of education than the one offered in their immediate location.  For the children to attend the better school it required them to move closer to this school.  They found several homes in this better schooling area and were excited to select one of these homes and make the move.  I suggested that they put their current home up for sale, sell it with a long close so they may have two things going for them.  Firstly they would know exactly how much equity they have going forward with the new bigger home and secondly it would allow them to ride the market down as things were getting a little softer in the market.  They would probably benefit from this as every month that went by as the newer home would become cheaper for them.  They pondered this suggestion but they didn't listen.  They decided to go with another salesperson that just wanted them to commit to the newer, bigger home and suddenly they found themselves in a "BOX".  The closing of this bigger home was coming closer and closer.  As expected the current home that they are in now is still waiting for the right buyer.  Their expectations of that selling price to make the deal work for them is not coming together.  Now what do they do?  Should they walk from the deposit of the newer bigger home and risk getting sued?  They want the newer and bigger home that is closer to the ideal school but the math doesn't work now.  What a dilemma.   I told them but they wanted to listen to a salesperson not a responsible agent.  Pay up now!!!!    

Like Water Off a Ducks Back

Aug 30, 2011 — Len Miliaris, Forest Hill Real Estate Inc. Brokerage

It has happened to us time and time again.  Not too long ago a very close friend was discussing with me about his home and how one day he and his wife would like to down size.  Naturally I took notice of this comment and gave him some advice.  Being a friend, I thought it would be a little too pushy to keep asking how they felt about the possibility of them selling and buying something smaller.  You don’t want to let someone feel the only thing you talk about when visiting them is business.  Business is there and it will be discussed at the appropriate time.  Well to my surprise…..I almost went off the road when I saw a sign on their front lawn.  Not mine as you all might think someone totally not in our circle of friends.  I did not react, I kept my cool.  I was more disappointed than anything else but what do you do.  Well what I did was acted as though nothing was unusual and continued my friendship with them.  We all must remember “the tallest trees bend the furthest.”

I'll Take Mine To Go.....

Jul 13, 2011 — Len Miliaris, Forest Hill Real Estate Inc. Brokerage

I should have known better.  After all these years dealing with clients that have a little tension between them you think I would smarter.  Well, it started off with an invitation to discuss the property.  After a coffee or two for me and several drinks for them, I darted for the door.  Next time we meet about the property it will be in a public place like the centre of a corn field.  You don't want to take sides in a case like this but a whistle and a striped shirt are now packed in my briefcase.    P.S. Pepper spray is on order 

The Little Cheeper Dealer Is For The Birds

Jun 29, 2011 — Len Miliaris, Forest Hill Real Estate Inc. Brokerage

When someone is in deep thought as to whom to list possibly their single most valuable asset, they should think very carefully.  Today I met with a potential list client.  They talked about a 1% listing that the other agents offered.  This is a battle I have over and over again.  One must think about what they are looking for in the sale of their single most valuable asset.  Anyone can sell anything at any time.  Getting all the money goes far beyond the 1% listing commission.  What to look for in the agent is if he or she is a “hit and run” specialist.  By this I mean, watch out for the agent that simply just wants to plant signs in the neighborhood and then run and hope for the best.  Paying a proper commission will pay back in thousands.  The agent that insists on getting paid will in most cases go for all the money.  They will market the home, advertise, showcase and just do the job to get the rewards.  You pay peanuts you’ll get monkeys…..

Product Blur

Jun 26, 2011 — Len Miliaris, Forest Hill Real Estate Inc. Brokerage

Nothing replaces a full tour of a property.  Touching, feeling, smelling and just hanging around really excites the buying bug in people.   When you have an appointment to see a property take full advantage of the time allotted to you.  Walking in and out without really taking in the whole home can cost you dearly.  I’m not talking financially; I’m talking your reputation as a responsible agent.  Buyers often miss out on key features of properties if they don’t slow down.  They experience what I call “product blur”.  How many times has a client mixed up properties with others when it came time to put in the offer?  Their whole world can come crashing down on them if they thought that nice fireplace they saw was in the home they’re on but it was actually in the other.  Slow down, don’t look at too may properties and for heaven sake, spend time in the home.  That Express train running behind the forest just might be behind schedule…..LOL

City slickers VS Cottage Country

Jun 20, 2011 — Len Miliaris, Forest Hill Real Estate Inc. Brokerage

Ontario has some of the most scenic country side in Canada.  Beautiful winding roads lead you to deep blue lakes; the best nature has to offer.  But when clients don’t listen when I say bring flat comfortable shoes it becomes a real %@*%  show……We almost burst blood vessels laughing at how nature taught them a lesson.  Heals buried 3 or 4 inches deep into black top soil, dear flies having a feast and don’t forget those mosquitoes equipped with what seems roofing nails.    So the lesson here is be prepared for the occasion.  Agents know best.

Top of Toronto

Jun 19, 2011 — Len Miliaris, Forest Hill Real Estate Inc. Brokerage

Sometimes people expect to shown a nice home in 10-15 minutes.  This home takes me an average of over an hour.  At the end of the showing the clients along with other agents say they were so taken back by the home time just flew by.  What a joy to show a home that numbs people. 
All 9