Agents: take a moment to think about what your current real estate marketing strategy looks like. Now ask yourself, when was the last time you reviewed your strategy and implemented new tactics? As real estate trends and technology evolve, so should your real estate marketing and promotional strategy. But what are the emerging trends of 2023? And which one should you integrate into your strategy first? Well, our experts at Soni Chachad Real Estate have compiled 3 real estate marketing trends to try in 2023, along with tips on implementation, to help you capture more clients’ attention and level up your listing game.

Focus on Branding

In 2023, it’s more important than ever to create marketing materials and content for your listings that not only stand out against your competitors but are uniquely ‘you.’ This focus on branding helps current and prospective clients immediately recognize your posts without getting confused or thinking you’re a different brokerage. To execute flawless branding, we recommend a few things when designing your content.

For starters, you’ll want to have a few brand colours that are distinctive to your brand – incorporating two to four colours is a good range to start, as too many brand colours can become messy and confusing. At Soni Chachad Real Estate, our brand colours include black, white, gold, and red, to give you an example. Beyond colours, you’ll also want to choose two to three different fonts that you can use across your branding. Our designers use one handwritten font, one serif font, and one sans-serif font. Finally, you’ll want to integrate your logo or watermark into your materials wherever possible to help further brand your content and make it recognizable to clients.

Pro tip: If you use a platform like Canva to design your promotional materials, you can save your brand colours, fonts, and logos within the platform for easy access.

Drone Footage

Over the past few years, drone footage has become an increasingly popular way to get dynamic videos and photos of real estate properties. Although there is a growing demand for drone footage, not every brokerage or agency has access to one, meaning if you’re able to harness this technology, you can get ahead of the curve. Here’s what you need to consider with drone photography and videography.

Photography and videography have always been an integral part of marketing real estate, but advances in drone technology will take it to the next level in 2023. For example, at Soni Chachad Real Estate, we like to utilize drones in our marketing materials to show prospective buyers the location, yard size, property lines, and more. These photos help our clients envision the area and see how close they are to their neighbours while generally providing a more comprehensive ‘birds-eye’ view than professional photos taken at ground level can. We also use drone technology to create dynamic videos that we can share across our social media platforms.

Pro tip: If you don’t have access to a drone, you might consider renting one to get the footage for your marketing and promotional materials.

Virtual Tours & Staging

Another way to utilize innovative technologies in your marketing strategy is to use virtual tours and staging to your advantage. It’s 2023, which means that prospective buyers want to be able to envision themselves living in a home sometimes before they even book an in-person tour. Here are a few things to consider with virtual tours and staging.

When it comes to virtual staging, 3D rendering technology has only got more sophisticated over the last few years. Now, you can take the professional interior photos and create mock staging that will intrigue and inspire your prospective buyers. This is a tactic we like to use, especially when a space is beautifully renovated but has no furniture or décor, to help show the true potential of a space. Beyond staging, the demand for virtual tours has increased immensely, with many people wanting to be able to view the home in its entirety from the comfort of their couch. At Soni Chachad Real Estate, we do virtual tours in a few different ways. For one, we will get our professional videographer (working in tandem with our drone videographer) to create virtual tours of the home’s interior and exterior that we post on YouTube and our other social media channels so people can orientate and familiarize themselves with the listing. Our second tactic involves collaboration videos with other real estate agents who come to our listing and create walk-through videos. If you’ve ever seen the ‘this is what $825,000 will get you in Stoney Creek’ types of videos (for example), then you know what we’re talking about.

Pro tip: Get creative! It’s all about capturing the attention of your prospective buyers, and one of the best ways right now is through virtual tours and staging.

Key Takeaways

With the real estate market heating up as we head into Q2 2023, it’s important to be aware of new trends that you can add to your existing real estate marketing strategy to make it even more effective. However, keep in mind that the suggestions we’ve explored here might not align with your strategy, and that’s okay! For example, if you don’t have access to a drone and don’t want to rent one, then that method may not be for you. On the other hand, some strategies are easier to incorporate, such as adhering to your brand guide with specific colours, fonts, and logos when you create promotional materials. Besides branding and drone technology, our experts at Soni Chachad Real Estate would definitely recommend looking into the opportunities that virtual tours and staging can provide for you and your clients. Giving your clients multiple ways to view a home only helps to speed up the process and increase your chances of a quick sale. In the end, although it’s important to stay up to date on trends in the real estate industry, the tactic(s) that you decide to integrate into your own marketing strategy will depend on what works best for you and your clients!

If you need an experienced, reputable realtor in the Golden Horseshoe region to represent you as a buyer or seller in your next home transaction, be sure to check out my featured listings and do not hesitate to reach out to me directly!  

Owning a home is a dream for many people, but what happens when that dream suddenly turns into a nightmare? Well, that’s exactly what will happen if you become a victim of real estate fraud. But what is real estate fraud, and how can it affect you? And more importantly, how do you protect yourself from becoming a victim of real estate fraud? We’re here to break down everything you need to know about real estate fraud, starting with an in-depth look at its various forms, discussing how it can affect you and your property, and outlining what to do if you think you’ve become its latest victim.

What is Real Estate Fraud?

When it comes to real estate fraud there are three main types: title fraud, foreclosure fraud, and mortgage fraud.

Title fraud occurs when the title to your home is stolen, and the fraudster then attempts to sell or apply for a new mortgage against your home. In order to steal a property title, a fraudster must commit identity theft first, which can be done by using data stolen from an organization or getting the information directly from the victim. Phishing attacks, phone scams, and mail or email interception are just a few of the methods that con artists use, and they’ll typically target homeowners with little to no remaining balance on their mortgage. Once they have the information they need, they will make fake IDs and forge documents, and some may even go as far as trying to sell the property.

Foreclosure fraud usually happens when you’re having problems making your mortgage payments and fraudsters approach you with non-traditional financing options. They may try to trick you into transferring your property title to someone to help you ‘make your payments’ with the ultimate goal of getting you to sign an additional mortgage or adding a lien to your property, thereby allowing the fraudster’s name to appear on the title. After that, all the con artist needs to do is instigate a loan default on the pretense that the victim failed to comply with some vague clause, and the mortgage foreclosure process begins. 

Mortgage fraud can come in several forms, but it’s essentially tricking a financial institution into lending money when it otherwise wouldn’t. In some cases, a fraudster may try to make a profit (as outlined above in the title fraud section), whereas, in others, it could actually be the homeowner or the broker committing mortgage fraud. Unfortunately, not everyone is always honest when applying for financing, meaning some buyers may be tempted to lie on their mortgage applications to try and secure financing for a home they can’t afford. On the flip side, a broker can also commit mortgage fraud if they forge documents or alter credit details to get loans approved.

How Can Real Estate Fraud Affect Me?

Since there are many ways to execute a fraudulent real estate scam, the outcomes will vary from case to case. With mortgage fraud, since the numbers were manufactured to suit the loan (and not based on real values), you may become unable to make your payments and potentially face foreclosure from the lender. However, with foreclosure and title fraud, you could stand to lose complete control of your home and property. Nobody knows this better than a Toronto couple who returned from vacation to find that fraudsters had sold their house. In January 2023, Toronto police warned the public that two people had impersonated the homeowners, hired a real estate agent, and listed the home for sale. These con artists were actually able to complete the sale, and new homeowners took possession of it before the old homeowners came home to the discovery – not a great way to top off a vacation, now is it?

How Can I Protect Myself From Real Estate Fraud? 

So, what can you do to ensure this doesn’t happen to you? Ultimately, knowledge and prevention are the best methods to help protect yourself from real estate fraud, so here are some of our top tips. For starters, you should never sign documents that you don’t fully understand or that could be later filled in with falsified information. Pay attention to your billing cycles and review your financial statements on a regular basis, noting any discrepancies. You’ll also want to keep your mortgage information in a safe place and shred old documents rather than throwing them in the trash. Do not knowingly submit falsified information when applying for a loan, and research any company or individual that reaches out offering financing. If you find that you’re having issues making your mortgage payments, the first person you should contact is your mortgage lender before seeking alternative options. And finally, you may want to consider buying title insurance to protect against title fraud, which will protect you from losses related to title fraud.

What Should I Do If I Think I’ve Become a Victim of Real Estate Fraud?

If you think you’ve become a victim of real estate fraud, there are several actions you should take immediately. Begin by writing down when you first noticed the fraud, including the actions you took, the names of the people you spoke to, and the date of communications. Next, you’ll want to file a report with your local police, reach out to your provincial land registry’s office, and contact the Canadian Anti-Fraud Centre to let them know what’s happened. You may also want to speak with your lawyer, get in touch with your financial institution, and alert Canada’s two credit rating agencies, TransUnion and Equifax, and ask them to put a fraud alert on your file.

Key Takeaways

When it comes to preventing real estate fraud, employing vigilance and common sense is critical because, unfortunately, if something ‘seems too good to be true,’ it probably is. For example, if someone is promising to help you with your mortgage payments without giving you the information you need to make a proper decision, you need to be equipped to recognize and report this scam sooner rather than later. In other words, it’s better to do your research, investigate your sources, and ask questions if you’re ever unsure. Ultimately, by understanding how real estate fraud can occur, being able to identify these red flags, and by taking preventative measures, you can ensure that you don’t become a victim of real estate fraud yourself.

If you need an experienced, reputable realtor in the Golden Horseshoe region to represent you as a buyer or seller in your next home transaction, be sure to check out my featured listings and do not hesitate to reach out to me directly!  

Whether it’s your first time buying or selling your home or you’re an experienced pro, sometimes unforeseen issues crop up that threaten the completion of your sale. Nobody wants to lose out on their dream home or have a buyer drop out last minute due to complications with the transaction, meaning being educated and knowledgeable is a critical step in the home buying or selling process. That’s why we’ve compiled 5 real estate scenarios and how to deal with them so you can keep the transaction moving forward and eliminate any potential issues at the source.

What can I do if there’s an issue with my new home, but I didn’t get a home inspection? 

Let’s suppose you didn’t get a home inspection done, the transaction is complete, and now there’s an issue with your new home that needs to be addressed – what can you do? For starters, you’ll want to check to see if the issue is still covered under warranty, whether that be the manufacturer’s warranty or if you or the seller purchased a home warranty. Beyond this, it can be challenging to determine who is responsible for the repair since no home inspection was completed.

Although the seller is responsible for disclosing known issues with the home, unfortunately, in Ontario, there is a rule called ‘caveat emptor’ or ‘buyer beware,’ which essentially states that a buyer is responsible for uncovering any issues with the home. Keep in mind, though, even if your province has the caveat emptor rule in place, the seller can still be held liable if they’ve lied or deliberately concealed significant problems with the home, meaning it might be time to take another look at your contract and seek legal representation.

What can I do if I’ve bought a home but the tenants refuse to leave? 

So, you’ve purchased your new home and are ready to move in or bring in fresh tenants, but the old tenants refuse to leave – what now? According to Ontario law, you cannot evict a tenant with an existing lease in place, and the lease will remain legally in effect even after the closing date. However, this doesn’t mean you are left with no options.

Although you can’t ask the current owner to evict the tenants, you can get them to explain the situation and ask if the tenants would find other living accommodations. Another option is trying to negotiate a closing date that coincides with the end of the lease; that way, you can get the tenants out while also gaining ownership of the home. Finally, if none of these other suggestions work, you could always wait until the lease expires with the tenants and simply not renew their lease. Now, if they refuse to leave after the lease is up, this is a different story, and it would be best to refer to the Landlord and Tenant Board (LTB) from Tribunals Ontario on what to do next.  

What can I do if my dream home comes on the market, but I hadn’t planned on moving? 

We encounter this situation more than you’d think; a homeowner isn’t looking for a new home when suddenly their dream home lands on the market, and now all they can think about is moving into this new home.

You don’t want to fall victim to real estate regret, meaning the best plan of action would be to first determine if making the move is physically and economically feasible at this time. Next, you’ll need to decide what to do with your existing home. Oftentimes, you’ll have to sell your current home in order to be eligible for a new mortgage; however, sometimes, you might be able to take on a second mortgage while keeping the first home as a rental or income property. In this case, you not only get to live in your dream home, but your income property can help you cover the costs of having a dual mortgage.

What can I do if my lender refuses financing at the last minute? 

Having a lender refuse financing at the last minute is every home buyer’s worst nightmare. So, what can you do if this happens to you? Well, one thing that many Canadians don’t realize is that when a lender first tells you you’re approved, it’s technically a pre-approval pending the verification of things like your income, job status, and current gross debt service ratio (GDS). If nothing significant changes with your financial standing between your pre-approval and closing date, you should have no problem getting the mortgage funded in time for your closing. This is precisely why your mortgage broker will advise you not to make any other major financial investments while you’re trying to close on your home (like financing a car) as it can affect your approval status.

However, if you are refused financing at the last minute, the first step would be to speak with your broker to identify why this has happened. You may not be able to rectify the situation with that lender, but at least you can understand what occurred so you can avoid it in the future. Unfortunately, if you’re unable to get your lender back on board, the only other option would be to seek other mortgage lenders.

What happens if I need to change the closing date?

Whether it’s because you don’t want to be stuck paying two mortgages, living in a rental home in the interim, or applying for a bridge mortgage, sometimes you need to change your closing date – but how do you do that?

On the surface, changing the closing date sounds like a reasonable request, but any changes to the terms of the Agreement of Purchase and Sale (APS) would have to be prepared and signed by both parties. Another thing to note is that the other party has no obligation, legal or otherwise, to agree to the change, so unless both sides come to a mutual agreement, the initial terms of the APS will stand. Of course, you can request that your realtor speaks with the listing agent to try and come to an agreement but remember, there is no guarantee.  

Key Takeaways 

Probably the biggest key takeaway here is that when you’re looking to buy or sell a home, you must properly follow all the steps to protect yourself as best as possible. For example, getting a professional home inspection can save you a world of trouble down the line, just like resisting that new car until after your mortgage has completely closed will save you from being denied approval last minute. Of course, sometimes, issues can’t really be avoided – like if current tenants have a lease agreement and refuse to leave – but every problem has a solution, even if it’s a more long-term one. And sometimes, problems aren’t even really problems at all, depending on your perspective, like in the case of needing to sell your current home so you can buy your dream home. Ultimately, we wanted to share these 5 real estate scenarios with you so that you could be better prepared on how to deal with them if or when they arise.

If you’ve been searching for an experienced realtor in the Golden Horseshoe region to represent you as a buyer or seller in your next home transaction, be sure to check out my featured listings and do not hesitate to reach out to me directly!  

With the chillier weather upon us and Christmas right around the corner, you may think that it's not the best time to sell your home. When people typically think of the home-buying season, they usually think of spring and summer; however, the winter months actually bring several benefits to the home-selling process that you may not have realized. With a real estate market featuring things like less competition, more available time, and year-end job transfers, there's never been a
better time to put 'sell your home' on your winter wish list. So, today, we're here to remind you that baby, it's SOLD outside as we explore 5 reasons why winter is a great, and underrated, time to sell your home! 

1. Less Inventory in the Winter Months

Just because spring and summer are typically known as the 'best' times of the year to sell doesn't mean that people don't look – or buy – at other times of the year. Although it's true that inventory typically spikes in the warmer months, less inventory in the winter months can actually be advantageous to you as a seller. Many sellers don't want to list their home during the winter months for various reasons, whether they don't want snow and dirt tracked in with each showing or they want to spend time with their family over the holidays. Whatever their reasoning may be, a lack of competition during the winter months makes it easier for you to make your home stand out and garner more interest to incite a sale. Therefore, using the fact that there is less inventory in the winter months to your advantage is a must if you're looking to sell your home this holiday season.

2. Flexible Schedules

Another advantage to listing and selling your home during the winter months is that people will often have more flexible schedules thanks to the upcoming holiday season. Many people take most of their paid (and unpaid) vacation days during the end of the year, and although it can be a pretty hectic time, there is still a fair amount of downtime for most people during the holidays. Whereas in the summer months, you (or your realtor) may not be able to accommodate a last-minute or late-night showing, the flexibility that the holiday season affords can be instrumental in getting the right buyer in for a viewing. Of course, it only takes one buyer to make a sale, so the more eyes you can get on your property, the better. 

3. Winter Buyers are Often More Serious

Most open houses occur during the spring and early summer, and it's not uncommon to find people just browsing without a clear plan to buy. However, people only get a limited amount of time off during the holidays, meaning anyone who is looking for a home during this period will likely be a serious buyer. The snowy weather and winter festivities make it an unlikely time for someone to casually scan the market, so if you do have a scheduled viewing, chances are that
person is serious and ready to buy. Plus, since you'll only be attracting serious buyers, it may even result in a quicker sale. Ultimately, winter buyers are often more serious because they aren't going to spend their precious time off from work looking at homes instead of spending time with their loved ones.