Federal Court Rules Against Toronto Real Estate Board – Toronto Mississauga York Region Durham Peel

Federal Courts Rule in Favour of Anti Trust Legislators

The Federal Court of Appeal has upheld an April, 2016 decision made by Canada’s Competition Tribunal. It has ordered the Toronto Real Estate Board to allow its members to share the sales histories of listed properties online.

This ruling relates as well to the incoming opportunities of Blockchain technology in real estate. What’s at stake is the all important client and property databases.

TREB has always contended that its first priority is to protect homebuyers data and privacy. It seems the courts didn’t buy that argument. This isn’t an isolated war in Canadian markets and courts. REBGV in Vancouver is fighting to hang onto its data too.

From the ruling: “The tribunal made no error in finding that TREB engaged in an anti-competitive practice and that this practice had and will likely continue to have the effect of preventing or lessening competition substantially in the (Greater Toronto Area).”





Whether this is good news or not so good news depends on who you are. It’s certainly good news for online real estate service businesses. They can improve their services with this open data source. TREB’s 45,000 realtor members may feel this is a threat to their own businesses who benefited from stifled competition.

It will create a further evolution in professional real estate sales. Agents and brokers will have to be smarter, more effective, and create a better presence online. The new market will move from Realtor intranets to the Internet and smartphones.

TREB is appealing the ruling and hoping to stay the order that allows immediate release of the home sales information. It’s a small win for some, but eyes are on the future, where more of the TREB data can be released and reported on.

Without accurate, up to date housing data, it is very difficult for service companies to do business in Toronto Real Estate. TREB has almost monopolistic power in an era that is demanding access to market data.




In a Toronto Star Report,  the governments’s commissioner of Competition, John Pecman says Friday’s ruling is an important win for competition and consumers.

It paves the way for much needed innovation in the real estate industry,” he said in a statement about the case has been going on for six years.” – from Torstar new report.

Realtors can now post home sales data on their websites for buyers and sellers to see.  The tribunal also said TREB must provide data such as sales figures, pending sales and broker commissions, which might be embarassing situation for some.



It’s All About the Housing Data

Although the argument seems to be about the release of the actual sales price history of homes, it may actually be more about control and the rest of the data in TREB’s gargantuan database.  Although TREB wants control of the data, which could mined for incredibly business value, it looks like they are losing the battle.

Perhaps TREB should go with the flow on this one and charge a fee for it? Even if the data is the property of TREB, the ruling shouldn’t prevent TREB from selling their data. If there are privacy issues regarding the data, then the Federal Government may be held liable for releasing it.  Homeowners themselves were likely lead to believe their property and personal information would be protected and private.

Sounds like a legal can of worms.

Some wonder if it’s a sad state of affairs if a Realtor’s only value proposition is as a gatekeeper to the data. That data has immense valuable to a lot of investors and home buyers. Previously, only Zillow had this type of housing sales data. The release of TREB mls data may be a nail in the coffin for Zillow.



It is likely new businesses and business models will evolve as a result of the ruling. Smaller businesses can jump on it right away to offer enhanced services online, but other large scale, Zillow, Zolo or Zoocasa enterprise level businesses will likely have to wait until the matter is fully settled in the Supreme court.

We’re in a data driven business world, and until now, the housing data was contained. Now with that dam bursting, it opens up many possibilities for entrepreneurial startups in the real estate sphere.

For real estate agents, the news is likely not a good one. Agents will now have to work much more effectively at building new real estate leads, holding onto old clients, and revamping the power of their own realtor brand image.

The release of this immense database will open up all sorts of entrepreneurial opportunities and range of services by real estate marketers of all types.  The Canadian markets are opening up open market models you see in the US.




Are you looking for the latest Toronto real estate market outlook, Mississauga real estate forecast, Vancouver real estate forecast, or the Calgary real estate predictions?  See also the Toronto condo market forecast and Vancouver condo market forecast.

 

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Predictions of a Housing Boom in Toronto and Vancouver in 2018 Reports Forecasts Predictions Canadian Housing Market

Will 2018 Bring Another Housing Boom in Toronto and Vancouver?

Are the Vancouver real estate market or Toronto housing market going to crash , lift off, or coast in 2018/2019? Has all the negative press made you believe the end is near?

Bankers and politicians keep trash talkin the housing markets. However, as you’ll read here, there is more reason to believe in strong growth arising from a healthy economy, high immigration, demand from 25 to 33 year old Millennials, low mortgage rates, a growing housing crisis and more.

Demand is high, supply is being strangled.

Wynne, Trudeau, and the bankers feel pretty certain they can crush this market (okay, they’ve persisted but will the Canadian economy and stock markets crash in 2019?  But this beast isn’t going to die. It’s driven by dreams and expectations about how we’re supposed to live.




Here’s my outrageous forecast: The demand is so high, they will have to completely reverse course and begin supporting construction and development and enabling purchases. Otherwise, as the election nears, they’re gone.

They’ll look like hypocrites, but the public will forgive because housing is a bigger issue that’s causing serious social troubles. As investors focus on rental properties, such as apartments in Toronto, even rents will skyrocket in Toronto. Toronto property management firms are headed for their own boomtimes.



As spring approaches, we’re going to see intense price pressure driven by a lack of supply. Royal Lepage just released its market forecast survey and they’re predicting Toronto houses prices will rise 6.8%.  That aligns nicely with this whole notion of boom times ahead.

And it turns out, construction is already booming.  Canada Mortgage and Housing Corp. reported that the pace of housing starts picked up in November nearing the highest levels since 2008. Given that we just went through a boom, that’s remarkable.  CMHC believes construction of multiple-unit projects in Toronto has been a driving force behind the trend.

Benjamin Tal is also suggesting a boom in Toronto and Vancouver and it would restart in 2018. You can read more below.  Should you buy now or in the spring?  Take a good look at the Toronto real estate forecast and the further reading below.

Breaking News: Trudeau to bring in one million new immigrants in next 3 years. Question: where will they live?

Despite government negativity, statistics, the underlying fundamentals of demand along with the ongoing strength of the economy are suggesting an improvement.  That means a prison riot might be coming soon. You’ll find a list of credible reasons why the Canadian housing markets might surge again below.




The experts have been forecasting a Toronto or Vancouver crash now for many years. Hasn’t happened, so perhaps we need to think for ourselves? The market continues with confidence and optimism overpowering persistent negativity the politicians keep pushing out.

How is the US housing market doing? Nervous but very good. Post hurricanes and fires and political upheaval, the markets in Miami, Boston, New York, Houston and Los Angeles are healthy. And 2018 stock market predictions are positive for several years.

Let’s take a look at the factors and the two opponents: our politicians vs strong growing economies. Only one will win.




Let the Housing Good Times Roll!

The IMF and OECD seem to agree, saying Canada’s economy is the best looking in the G20. The case for a Canadian housing boom has some wind in its sails. If political suppression of the Toronto and Vancouver housing markets were to end, the rest of Canada would awaken.

What we don’t know is whether the government will attack  the momentum or let it power the economy further. Currently they’re riding a wave of populism driven by angry renters in Vancouver and Toronto.

But what if that voice faded and the exact opposite public opinion appeared? Justin Trudeau’s popularity has dropped to 25%, Wynne’s pushing towards zero, and that means they may have to reverse course to stay in office. Don’t believe they would do it? Never say never.

Politicians Crushing the Housing Market

Currently however, Wynne, Trudeau and Horgan are holding their own private “let the good times roll” party. Their unwise meddling in the housing market is a threat to the Canadian, BC, and Ontario economies as explained below.

And it’s all for political points that may soon be worth nothing because when you cater to a small select crowd, eventually everyone else wants you out. In truth, only the prices of million dollar estates have dropped a little and the rest of Canada is hurting.

Demand for housing is relentless and Millennials don’t want their dreams dashed. The larger voice will be heard in 2018.




People want homes and these 3 politicans will be booted out of office because of it.  The only ones voting for them are those in Toronto and Vancouver cities. The rest of the country wants to see lower mortgage rates and an improved economy.

A good number of Canadians are weighed down by thoughts of the last recession rollercoaster and don’t really want to go back there. Business people and investors want growth. They’ve got a lot on the line.

And the politicians they’ve discouraged the builders now. So, although everything is in place for a continued housing boom in Canada, these politicians could push us into a mess.



“At this point we do not see any real relief. In fact, the opposite is the case,” writes Tal. “Without significant changes to land and rental policies alongside a dramatic change to housing preference among buyers, those centers will become even less affordable.” – Benjamin Tal in an interview with Yahoo Finance.

Key Factors Supporting a Housing Boom in Canada

  1. global economic winds are positive
  2. Trump will rekindle trade with Canada (he has to)
  3. oil prices rising a little
  4. wages will begin to rise
  5. too many millennials need to move out of the parent’s places
  6. bank of mom and dad has plenty of funds ready
  7. supply is low and builders and construction workers are waiting to build again
  8. the rest of Canada is tried of being kicked around
  9. Trudeau and Wynne severely disliked
  10. China is liberalizing trade and investment with the world
  11. Canada’s economy is going gangbusters (3.6% growth forecasts)
  12. lumber producers would rather sell their lumber here
  13. mortgage rates still low (and there’s no real reason to raise them)

Video: Greg Bonnell of BNN Explains How Housing Prices Can’t Go Down

Strong Economy Usually Means Boom Times

Benjamin Tal may have meant a price boom is imminent because of severe shortages in the Vancouver housing market and the Toronto housing market.  And if prices rise, we may see construction starts also slowly rise and a juiced up housing market would in turn lift the Canadian economy higher.

A synchronized global recovery and rising global trade volumes are backstopping the growth, along with the bottoming out of the oil shock in western Canada and soaring home prices in Toronto and Vancouver — from a report in the Toronto Star.

And prices of oil have climbed, meaning Calgary’s real estate market and those in Edmonton, Saskatoon and Regina might return as well. Fears are that OPEC is solidifying and a war between the 2 biggest producers could erupt. That would bring an immediate boom to Calgary.

Screencapture courtesy of BNN

This is a screenshot below is of historic oil consumption from Doug Rowatt’s post on the greaterfool.ca. The price is forever upward.  Is the time time oil shoots toward $100 a barrel? Some are predicting it.

Forecasters like Oil: “Open interest in $100 call options for December 2018 has tripled in one week to exceed 30,000 lots, according to Reuters.   The $100 December 2018 options is the largest strike for all of 2018.” — from USA today report.

Condo starts have been strong and look to continue. The Toronto condo market and Vancouver condo market will be driven by property investors according to reports.

BNN’s Greg Bonnell Interviews Bryan Yu, Senior Economist at Central 1 Credit Union regarding Vancouver’s perpetual positive market in a past interview. What stands out about the conversation is that Yu says affordability won’t affect prices, and that only an external factor, such as a Chinese implosion would create a Vancouver slowdown. At this point, with Trump’s visit to China, that the Chinese are adapting to global business and are welcoming foreign investment. No reason for a China problem. Vancouver looks great.

What makes Toronto’s condos an attractive long-term bet is the city’s low vacancy rate, which has fueled bidding wars among renters and driven monthly condo rents to an average of $2,074 in the second quarter, up 7.2 per cent from $1,935 a year ago, according to market research firm Urbanation. — from a report by Bnn.ca.




Severe shortages are likely to drive home prices high. Most forecasts and expert predictions are for a flat market for 2018. Yet the economy is strong and looks to get stronger so a flat market is really about sales volume. Prices are so high no can afford to buy houses in Vancouver or Toronto and soon for condos.

It’s Still a Seller’s Market

It’s a seller’s market in 2017 and 2018, and with rent controls suppressing new construction, the pressure will build to create higher prices of resale homes and condos. As wild as Benjamin Tal’s prediction is, it jives with what’s going on in the economy.

Douglas Porter believes the market will heat up too, but his view is that it will end with a housing market crash.

If NAFTA talks go well, which they likely will, the North American and global economies will both grow. That doesn’t fit with some bankers and politicians wishful prognosis of stagnant or reduced prices in 2018/2019.

The latest numbers from Novembers mid month report by ZooCasa shows a surge of listings this month.  This rapid rise in listings in houses and townhouses tells us sellers might be too desperate, overestimating the effect of mortgage stress test changes, and clearly not of the view that the market will climb in spring.

In TREB’s monthly price charts, prices in the core districts of Toronto haven’t fallen. The demand for homes within commuting distance of jobs is high and buyers will likely pay any price. Home prices in the 905 area code have fallen (York Region, Mississauga), but perhaps that’s ready to heat up in 2018. There are still bidding wars and lots of over asking sales happening.

Let’s not forget that many renters and some homeowners will have to leave their current homes, and they will be exposed to a zero vacancy market you normally associate with New York City or San Francisco.



Does This Fall Season Foretell of 2018?

The fall season has been strong, and while the new mortgage rules will suppress demand for more expensive homes, and condos, those under $600,000 will be high demand. That will push prices up. So although some homeowners are pannicking and dumping their houses on the market, demand in 2018 will gobble them all up. Let’s not be distracted by the $3+ million dollar homes in Forest Hill and Mount Pleasant.

The Toronto condo market is sizzling hot and they’re running out of condos.

It’s a simple matter of supply versus demand in Toronto and Vancouver. The only solution is to end anti-development legislation. Vancouver and Toronto have been designated high growth super cities with large numbers of immigrants with visas and foreign students arriving every month. How can that be stopped now?




Government Manipulation Could Create an Economic Slide

If Trudeau and Wynne try to counter rising prices and demand for homes brought on by demographic and economic factors, via policy changes, it may create a bubble and then housing crash in Toronto and Vancouver, cascading right across the country.

In fact, it’s likely that they’ll both be run over be the economic train neither had any part in creating. For Trudeau, it is hypocritical to recruit a million new immigrants and then not help withh the housing crisis.  I think he’ll come around because of this. However, it still leaves the BC and Ontario premiers left blockading the housing highway.

For those who don’t want to live in these modern mega cities, there are other areas of Canada to live. The north is undeveloped, but as more babyboomers tire of the congestion of the city, they’ll be looking for homes, at least for 6 months of the year, in Canada. They may have to go north to find one, if anyone’s building up there.

And they won’t find much relief in Muskoka, Niagara Falls, Kelowna, or Victoria. Prices are up in most retirement cities and they’re rising in Costa Rica, Mexico, Florida and Arizona. Too many people bidding on too few properties. Simple math that seems to befuddle politicians.

Before buying a home or investing in rental income property, get some advice on maximizing your investment. The path you take might be surprising. Expand your search for homes for sale with an intelligent strategy that does more than calling a Realtor.




Before you sell, consider advanced selling tactics that can capture the full interest in your home. The demand for your home or condo is out there in the real marketplace. They just aren’t aware of your property. Marketing is worth many times what you pay for it. Consider the exposure of your property on Google, Google adwords, Facebook ads, in addition to your MLS listing. Don’t be timid. Power it up!

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Toronto Condo Market Report – Update and Forecast 2017 2018

Toronto Condo Market Forecast 2018

While the Toronto housing market in 2018  is overshadowed by severe house supply shortages and ultra-high prices the condo market in Toronto and Mississauga is an attractive alternative for young buyers.

Sales of condos particularly in the under $500k market are rising and prices have risen as well. The latest Toronto condo market sales report from TREB has ben released. While TREB doesn’t publish stats on the condo market specifically much anymore, you can see the averages for each district below.

Toronto Central, Milton, Oakville, and Peel region continue to enjoy strong market demand while other areas have seen a decline in price since last fall.

The new mortgage rules now enforced means many buyers will only qualify for a much lower mortgage.




You likely have your own opinions about government meddling in the markets, however such interference can be a housing crash factor in itself.

Should you invest in a new or resale Toronto condominium? The Canadian economic Forecast and Toronto economy in particular look very good. That means condos new and old will be in demand next spring from fully employed buyers who have had time to save the big downpayments and meet more stringent lending stress tests.

As mentioned in the Toronto housing report for October, prices for Toronto condos are up 24.5% in the city of Toronto year over year.  Some of this rise is due to the coming mortgage chages. If you need a monster mortgage, you need to get hopping and call a real estate agent.

The issue of whether to buy is one of affordability for Millennial-aged buyers and as many are saving, there will be plenty of demand next spring, putting upward pressure on prices.

Millennials Are Driving The Toronto Condo Market

They’ll need more creative mortgage financing and improved condo searches to find something they can afford. Although the mortgage changes in 2018 will put an extra burden on them, and force them to stay in the rental market, they will likely have more money in the spring to buy a condo.

There’s big investor demand for condos too. Student housing is in a severe crunch in Toronto and Vancouver. Investors are well aware of the rental potential of condos and many may be investing in the Vancouver condo market and here in Toronto because of so much rental demand.

If you can’t earn a profit on capital appreciation, you can still make it on rental income.




Toronto Rents Are About to Rise

A report from BNN shows how rental income properties, including condos in Toronto. See where the big rents are.

Why are Toronto Condos such a Draw?

Toronto Condos offer higher cap rates and a larger growing pool of potential renters and buyers. And at this point with severe shortages of detached houses and townhouses, buyers are buying condos. Barry Fenton, President & CEO of Lanterra Developments, a major condo developer suggested Toronto Condo prices could could have risen 40%. They have reached 20% over this time last year.  The detached housing shortage is still alive.

When foreign investors look to escape their own country’s currency nightmares and leverage our weak loonie, they like the Toronto market. Note: If you’re a foreign real estate investor, people often refer to Toronto as being the greater Toronto area encompassing Oakville, Mississauga, Vaughan, Richmond Hill, Scarborough, East York, Pickering and even out to Oshawa. The Newmarket, Bradford, and Aurora regions are included in TREB’s housing sales reports.




Toronto Condo Prices 2017

TREB District Toronto Condo Prices March 2018 Toronto Condo Prices October 2017 Toronto Condo Prices Sept 2017 Toronto Condo Prices August 2017 Sept 2016 March 2012 Price Change over Last 17 months
City of Toronto $651,100 $555,004 $554,069 $550,299 $561,376 $361,800 13.78%
Toronto West $494,400 $446,794 $450,485 $434,218 $487,061 $286,366 1.48%
Toronto Central $656,000 $620,322 $615,654 $615,680 $682,427 $422,396 -4.03%
Toronto East $411,000 $407,775 $395,859 $403,028 $467,689 $237,909 -13.79%
Halton Region $465,300 $478,611 $519,348 $528,579 $485,128 $442,625 -4.26%
Burlington $520,300 $553,029 $514,755 $476,222 $497,800 $370,667 4.32%
Halton Hills $486,300 $516,450 $294,500 $446,971 $381,017 21.65%
Milton $432,000 $413,808 $418,219 $427,594 $406,300 5.95%
Oakville $442,100 $419,438 $606,131 $523,507 $513,682 $485,800 -16.19%
Peel Region $423,600 $389,587 $385,588 $395,188 $461,830 $433,780 -9.03%
Brampton $360,000 $354,618 $336,091 $350,401 $374,596 $351,500 -4.05%
Mississauga $435,000 $395,683 $393,441 $402,344 $485,240 $453,250 -11.55%
York Region $507,000 $495,973 $481,138 $500,456 $544,528 $537,903 -7.40%
Aurora $477,000 $608,750 $562,500 $685,874 $532,785 $525,000 -11.69%
Markham $509,000 $503,796 $486,369 $503,455 $554,643 $527,518 -8.97%
Newmarket $536,000 $416,260 $444,250 $400,340 $496,125 7.44%
Richmond Hill $475,400 $452,319 $446,505 $470,076 $542,470 $596,667 -14.11%
Vaughan $531,000 $532,144 $513,618 $521,400 $593,725 $554,211 -11.81%
Durham Region $407,800 $399,687 $365,297 $376,250 $317,855 $274,350 22.06%
Ajax $396,000 $337,317 $397,125 $379,431 $378,180 $281,688 4.50%
Oshawa $358,000 $302,333 $226,347 $315,075 $243,000 $210,667 32.12%
Pickering $501,000 $448,036 $384,300 $402,316 $396,301 $340,667 20.90%
Whitby $410,000 $448,036 $395,633 $457,143 $344,461 $294,350 15.99%

The Toronto Real Estate Board covers a huge area and below we’ll zero in on communities that may represent the best ones for you to research.

Barry Fenton, President & CEO at Lanterra Developments joins BNN to discuss the Toronto Condo market. He suggests the market is aggressively priced and complains a little about how competitive it is. He says prices will rise 40% but he has a few misgivings about the Toronto Condo market.




Big Demand for Condos as Entry Level Homes

Most home buyers in the Toronto area can only hope to own a condo. Homes are averaging over $1.5 million in some areas in the GTA. And condo developments are offering more for tenants. And perhaps the key feature of Toronto condos is their proximity to work, leisure, restaurants and shopping and freedom from the grinding commute that many Torontonians face each day. So there are good reasons to buy a condo in Toronto.

But the condo investment landscape has recently been darkened by Ontario premier Kathleen Wynne. Her government’s new foreign buyer tax might hit the condo market the hardest, but most credible experts expect demand to return. It’s a short term blip (and as of Dec 2017, the demand for condos did indeed return).

Oddly, the condo market in Toronto is much less volatile than the single housing and townhouse market in Toronto. Her foreign buyer tax and rental price controls look like they’ll miss the mark.

Lets’ take a look at the most recent Toronto condo market prices and then look onward to 2018, 2018, 2019 and 2020. This blurb from the latest TREB condo market report says it all about what’s happening right now in April of 2017:

 

What else is supporting condo sales is proximity to work. Commute times are awful, gas prices are very high, and young millennials are having trouble handling rent/mortgage/ and car payments. Something has to give, so workers are choosing to move into the city near their jobs.

Where are Toronto’s Best Investment Condos?

As the graphic above shows, the top location is Toronto Central (where home prices are highest too), Toronto West and Mississauga. The bulk of these listings are in huge mega-sized condo towers and there are more of them being built. Toronto Central is also close to the U of T, Ryerson, and other colleges where off campus housing is in hot demand. It’s the same situation for Vancouver condo rental and investors should take note.

Toronto’s C02 district is your million dollar listing area. With an average price of $1,050,000 these are your Toronto luxury condos. This area is located just north of Downtown/Bloor st, near the University of Toronto. This suggests that proximity to U of T and downtown offices may be the primer driver of Toronto condo prices and may drive sales of Toronto homes as well.

Screen cap courtesy of the Toronto Real Estate Board. See more at trebhome.com

How Much Have Prices Risen in the Last 5 Years?

Should I Buy a Condo in Toronto?

Should you buy a condo in Toronto, Mississauga, Scarborough, or Brampton?  Demand for condo purchases is rising, the Toronto economy is strong and positive, and rents are rising fast.  At some point, you have to jump in, or you’ll never build homeowner equity.

What to Consider Before you Buy a Condo

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New TREB Report Shows Foreign Buyers Have Minimal Effect on Toronto Housing Market

Foreign Buyers Not Driving Up Prices in Toronto

A new Toronto Real Estate Board investigation has concluded that foreign buyers play a minimal role in Toronto house prices and availability. 3 key findings counter the Wynne government’s insistence that Foreign buyers and house flippers are ruining the housing market.

The report may indicate how government officials haven’t been honest to the public about the cause of high home prices in Toronto — government tax greed and ideology of privilege.

April TREB market report: a growth of 33.6% in home listings in the TREB’s MLS® System in April 2017, at 21,630. Prices rose too.

Tired of Ontario Taxes? Investigate a Costa Rica retirement.

This new finding shows the Foreign Buyers Tax in Toronto (an old school knuckle dragging approach) was a knee jerk reaction by desperate politicians. The sad part is that it could cripple the development of new homes and condos in 2018 and 2019 which would have eased the housing crisis.




It remains to be seen how Toronto condominium developers will react to the Ontario government buyers tax. Currently, the Toronto condo market is alive and healthy. But the housing crisis is unfortunately a sad reality for many Ontarians.

What happened in April 2017?

The MLS® Home Price Index (HPI) Composite Benchmark Price was up by 31.7 per cent year-over-year in April 2017. Similarly, the average selling price for all home types combined was up by 24.5 per cent to $920,791. — from report from TREBhome.com




Homeowners are Finally Selling!

On a positive note, and further to the real point of the study, TREB reported that home sellers appear to be loosening their grip on their homes and are putting them up for sale. The long awaited “Great Home Release” is happening now this spring 2017 in a Toronto neighbourhood near you.  tTREB’s Jason Mercer added in the published statement that it will take a long time for the pent up demand to be fulfilled in the GTA area. from the new May report from TREB.

It was encouraging to see a very strong year-over-year increase in new listings. If new listings growth continues to outpace sales growth moving forward, we will start to see more balanced market conditions. It will likely take a number of months to unwind the substantial pent-up demand that has built over the past two years. Expect annual rates of price growth to remain well-above the rate of inflation as we move through the spring and summer months,” said Jason Mercer, TREB’s Director of Market Analysis.




“TREB strongly believes that public policy decisions with regard to the housing market should be evidence-based and supported by empirical data.”

3 Key Findings that Debunk the Foreign Influence Myth

TREB’s Report summarized these 3 key findings, that debunk the Ontario government’s insistence that foreign buyers and quick investment flips are driving the Toronto housing crisis:

  1. The number of buyers with a mailing address outside of Canada is well-below 1%
  2. Between 2008 and April 2017, the average share of foreign buyers in the Golden Horseshoe area was 2.3%
  3. The majority of foreign buyers – 87% to 90%– purchased their home as a place to live, not as a tax evasion or speculative venture (homes that were bought/sold within a short period of time – within one year of the original transaction by domestic or foreign buyers accounted for a very small share — less than 5% in 2016 and 7% between January and April 2017) of total transactions).

With the above information in hand, what is your opinion of the Ontario government and Mayor John Tory’s stated preference for the Toronto Foreign Buyers Tax? What do you believe is the real purpose of the tax? Will the incoming Ontario government simply get rid of it?  Do you consider the Toronto land transfer tax a fair tax? Do you feel the government is creating the problem with one hand and justifying its role with the other?

Get the full view of the Toronto Real Estate market, along with the Newmarket housing report, and Mississauga housing market report and forecasts.

Should you sell your house fast or for a high price?  In the past 3 months Americans have been selling their home for an average $336,000 more than they paid for it. It’s one more reminder that real estate is where the real money is. And if you’ve been reading my posts, you’ll see that government red tape and land restriction is the real driver of high real estate prices. So if you’re renting, gaining no equity, while your life passes, and can’t come up with hundreds of thousands for a down payment, now you know why. It’s time to speak with your local government representatives about opening up land for development. The alternative is pay the future home prices which could rise another 30% in 2018 (depending on the economy and how well J Trudeau gets along with you know who).

Latest year over year Toronto region home prices (April 2016 to 2017):

Screen Capture courtesy of TREBhome.com




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Up or Down. How Will the Foreign Buyers Tax Affect Toronto Condo Prices?

Toronto Condos – Still a Smart Investment?

Screen Cap Courtesy of Pier 27 Condominiums, Toronto

The Toronto Condo Market couldn’t be more difficult to comprehend right now after the Liberal’s pushed their unwise Foreign buyers tax and rent controls. With availability of condos squeezed, prices in Toronto rose to record levels. What will happen this year and 2018 in Toronto’s condo market?

Toronto Real Estate Boards latest facts:  Condo availability down 18.8% and condo prices were up 24.3% compared to last year.  Demand for condos is expected to stay strong or strengthen while sustained lower availability should keep prices strong 2017 through to 2020.





Questions: Which way will prices and condo supply go in Toronto? Will reduced condo construction offset any rent controls now in effect? Can investors and condo developers still make a good ROI despite the rogue foreign buyers tax? Will the Ontario’s measures push the province into recession? 3 housing experts weigh in with their views below.

Should I Sell my Condo Now?

Urbanation’s Shaun Hildebrand

Urbanation senior vice-president Shaun Hildebrand suggested that rent increases had leveled off recently due to a new supply of condos hitting the Toronto market. His beliefs correspond with many experts belief that a lack of supply is the problem and that new supply tames the price increases.

In the Urbanation post: “While the market remains undersupplied, the report says the 11,315 newly completed condos that reach closing in the past six months helped to alleviate recent pressure on rents.”




The new foreign buyer tax is expected to kill demand from foreign investors. Kathleen Wynne has characterized these foreign investors as speculators as “undesirable” parking their money. She didn’t comment on whether immigrant investors are coming here to launch their business to give their kids a great education. She failed to specify why foreign investors parking money here is wrong or illegal. And she provided absolutely no data regarding how much foreign investment actually takes place in the Toronto Housing Market.

A number of Realtors and experts say foreign investment is only a small portion of the Toronto housing market.

If that’s the case, Toronto condo prices similar to Toronto detached home prices will likely not fall much and will recover probably by late summer. Some say this will be a brief market letdown and if new condo projects dwindle in number, it will only drive up condo prices in 2018 and 2019.

As you can see in these stats from TREB below, condo prices in Markham, Vaughan, Toronto West, Richmond Hill and even the hot zone of Toronto central, are reachable for many buyers. Adding 20% should still make them affordable.

Emporis, a research firm that specializes in Condo development reporting says there are 154 condo projects currently in construction in Toronto with another whopping 364 planned and 382 unbuilt. Ontario’s depressing tax could put prevent many new projects from moving forward which will constrain development and lower condo availability. That will move Toronto condo prices higher in the long term, assuming Ontarios economy can continue improving.

Barry Fenton, CEO of Lanterra Developments

Lanterra Development is a major condo developer in Toronto forecasts that condo prices will rise another 40%. Here’s the video interview with Catherine Murray of BNN.

Brad Lamb of Brad J Lamb Realty

In an early interview with Brad Lamb, a well known Realtor specializing in downtown Toronto Condos, Lamb suggested the Foreign Buyers Tax could conceivably lead to recession in Toronto and across. Lamb was then quickly rebuffed by Doug Porter, Capital Markets Chief Economist of BMO Capital Markets.  Porter blurted, “And I have eaten, drank and slept the Canadian economy for more than 30 years,” which look a little like a smackdown of Lamb’s credibility and capacity to speak with authority on the matter of housing economics. However, Bank representives to tend to align with current government positions on these types of decisions so we have to question Porter’s credibility as well.




In that same BNN interview, David Madani, of Capital Economics said that Toronto new housing construction accounts for 1% of Canada’s GDP:  “Accordingly, a moderate slowdown in Toronto housing construction wouldn’t put the entire economy into recession… It would take a much broader negative shock to national housing investment and personal consumption to put the whole economy into recession.”

But as we know now, the US is beginning to apply border taxes and we have to wonder when Trump will tax Ontario’s lucrative auto industry. The 1% that foreign investment in real estate provides, suddenly looks large. Now that the tax has been announced, foreign investors and our own condo development companies won’t trust the government.

 

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Toronto Housing Market Crash Getting Closer?

When Will Toronto’s Real Estate Market Crash?

The experts have been calling for a Toronto Housing Crash for several years now, but it never happened. But is time finally running out?

What happens before a Housing Crash? This is the question more people are asking.  If Toronto’s economy is strong, could a crash possibly occur? Do we need to know the factors? If housing does crash, that doesn’t mean the economy would crash would it?

Canada is now a real estate nation, with little else to keep the economy from sinking into an even deeper funk — in the Globe and Mail.

Every month in 2017, brings a new context with new threats. And when prices are this high, perhaps down is the only direction? Some writers in the media including Gordon Pape the finance guru, and Douglas Porter of BMO are hinting about a housing crash.

What are the current issues people are discussing?

  • first time buyers – are they over-leveraged, seriously in debt and able to pay higher mortgage payments?
  • are homeowners exposed to higher mortgage rates?
  • is the renegotiation of NAFTA going to create a wave of mortgage defaults and business failures?
  • fast rise of home prices – going vertical on charts can’t continue
  • what are speculators and the media saying about the market?
  • will Chinese buyers disappear from the market?

In the first 2 months of 2017 have prices in Toronto have been rocketing. March to June, prices will launch into the stratosphere.

According to the Toronto Real Estate Board, active listings in the GTA were down by 50.5 per cent in February compared with the same period last year.  “Inventory hasn’t been this low in 15 years.” from a news post in the Globe and Mail.

Chart courtesy of Trebhome.com

What Causes a Real Estate Bubble and Housing Market Crash?

A Real Estate bubble happens when prices become inflated well beyond their apparent or historical value. Reality may be ready to snap them back to normal. The excessively high prices mean some buyers are likely over leveraged or in financial risk. If the market plummets they will be holding an “underwater mortgage” where they owe much more than the home is worth. They could decide to abandon the home as was evident in past recessions.

There are so many housing crash indicators to consider that even experts and mortgage corporation CEOs can’t provide a very good forecast. And past crashes may not give us any clues. But one insidious factor might be most telling even more than prices — that the economy can’t support it and wage performance in Toronto isn’t good — homeowners really are overleveraged. CMHC has sounded the warning, doing what they can to stop first time buyers from being future victims. Homeowner’s financial position is likely worsening and they’re increasingly in danger of default.

I’m not a qualified housing market economist but who is? You can read forecasts from 4 years ago from the experts who got demand wrong, bubble forecasts wrong, and made other embarassing statements such as “Toronto’s condo glut.” It’s a lot of guesswork. If you’re well to do, the price crash might not mean much, but a housing crash could bring the Ontario economy and indebted Ontario government crashing down. That’s when all hell breaks loose.


Save Money on Auto Insurance in Toronto

It’s almost certain that your auto premiums are high.  Shop around and a low Toronto car insurance quote online.  Some postal codes and neighborhoods are subject to higher premiums. I hop you’re not going to go alone with that? You work hard for you money, so finding lower car insurance rates is a sign of self-respect. Let’s get shopping for the lowest auto insurance in Toronto.

When Will the Housing Crash Happen?

A housing crash occurs when housing prices plummet, due to economic failure, or to a wave of sellers who dump their properties onto the market in desperation to sell them. As in 2007 in the US, if defaults occur, it could bring down the market including mortgage lenders, sending it spiralling downward for years. The US housing crash brought the whole economy down and the damage spread internationally due to economic integration and capital flight.

Canadians, including Torontonians are deep in personal debt and first time buyers may have big student loan debt. Wealthy people would be quick to sell to protect their own fortunes. Once the fuse is lit, we can expect terrible consequences.

What do The Home Builders Think of the Toronto Market?

Are builders jumping into the Toronto market with both feet? That’s a good sign of market direction, because new home development builders have a lot on the line if the Toronto economy should tank. They’d be exposed for hundreds of millions of dollars.

Yet if you look up in Vaughan, Newmarket, Aurora and especially Bradford West Gwillimbury, you’d see massive developments going full steam ahead. In East Gwillimbury, one development just north of Green Lane in Sharon, will have 9000 new homes. Builders seem pretty confident they’re going to sell them all. And generally, they’re sold quick and at very high prices. Chinese buyers are still supporting the market however, buyers from the Toronto area are keenly interested in York Region.

Selling Your Home in 2017

I’m getting more frequent inquiries from Toronto area home buyers and I expect that to grow. They can sense the possibility of the Toronto housing bubble bursting, and that now is the right time to sell their Toronto or Mississauga home and make the migration north. It is a wise time to sell your home anywhere in the Toronto region and settle into something cheaper. We will never see the winfall homeowners are getting now from selling, again in our lifetime.

If you are ready to sell, why not contact me to help you get the best price for your Toronto or Mississauga home? You’ll get an experienced and helpful Realtor to get it sold fast, but for a fanastic price. You won’t be even thinking about their commission.

When the next recession happens, all those who didn’t sell will look back with regrets. The opportunity to benefit by hundreds of thousands of dollars is no laughing matter. You can sell now and move to Costa Rica, Palm Beach Florida, Kelowna BC, Arizona, or Belize and live a wondrously happy existence.

The Kids Will Be Happy and So Will You

Some don’t sell their house because they don’t want to uproot their kids. But kids are resilient, and 100s of thousands of dollars buys a lot of health, high quality education and other youth development benefits. Think how nice that could be?

It may take another year or two before the bubble bursts, buy why wait? You have the big winfall now. If you’re a babyboomer, did you work hard all those years to sit in a house that needs constant repair? Come on, you deserve better than that.

Contact me and I’ll help you get launched on the whole process and get you moving onto a better life. My Realtor associates in your town will do a market valuation and then help you optimize your property for sale. This is an exciting time for you, your spouse and family. Suddenly, you have options you never dreamed of. Be happy and let’s get started!  — Gord

When should I Sell My House? | RETS IDX | Zillow Home Search | First Time Home Buyers | Canadian Home Buyers Guide

Toronto Homes for Sale – Houses Condos Townhouses TREB MLS Private Listings

Buy a Home in Toronto, Canada

Most people from the US, UK or other countries like Toronto a lot. One thing for sure, they’re coming here to buy homes and property. The really smart ones will buy property. Because, property is really rare and can be more easily built to purpose.

Yet, the real demand is for homes. New homes are purchased very quickly  in the Toronto area. They’re a rare find.  While you can find new homes for sale in Mississauga, Newmarket, Aurora, Bradford, Vaughan, Richmond Hill, Markham, and Milton, an older home in an established neighbourhood provides the real comfort you’re seeking. The strong interest on my site for homes for sale in Bradford, Newmarket, Aurora, and Vaughan reveals that many Toronto homeowners are looking to sell their $1 Million dollar home and move north.

You won’t have any trouble selling your Toronto home. There are all cash buyers from countries around the world as well as buyers right here in Toronto. What you need help with is finding a new community and neighbourhood, and plan how you’ll invest the winfall from selling your home.  The key is to find a good Realtor™ in Toronto to help guide your choice.

Check homes for sale in Toronto Right now at HomesforSaleGallery.ca – Full MLS Listings!

Where are Chinese/Asian Buyers Buying Homes?

I’d like to Welcome visitors from the Middle East, China, Malaysia, Germany, and Hong Kong. Your choice to invest in Canada and move here is good for you and good for us. Truth is, foreign investment in Canada is at an all time low and this is hurting our economy. An improving economy, lower Canadian dollar means you’re investing in property that will appreciate.

These problems will be resolved soon, as the US begins to bring jobs back to its country. Selling your home and buying one in Canada is wise – Canada will benefit from economic and cultural improvment in the US regeneration in the US. The US has had terrible troubles in the last few decades, but looks to be ready to climb out of their depressed state.




Canada is safe, healthy, and different races and nationalities get along together as well as in any country in the world. Let’s not forget that Canada is a capitalist country and it is competitive. Come here with an open-minded, entrepreneurial attitude and you’ll fit in nicely.

Toronto Real Estate Charts (from TREB)

Here’s what has happened throughout the greater Toronto region. Please see the homes for sale Newmarket, homes for sale Vaughan, homes for sale Mississauga, York Region, and homes for sale Bradford pages for more detailed insight.

 

Screen Capture courtesy of the Toronto Real Estate Board

 

Screen Capture courtesy of Toronto Real Estate Board

What are The Best Neighbourhoods to Buy a Home in Toronto?

There’s no real answer to that question. I know people living across the greater Toronto region and each of them believe they live in the best neighbourhood.  Your choice of where to buy a home here will be conditioned by where you want to work.  Transportation routes aren’t good. I worked 30 km from my home and it was a 1 hour commute to work every day. When it snows, it’s worse.

A huge number of people work to downtown Toronto, which may appeal to you if you’re from a crowded city in China or Hong Kong. There are a lot of existing condos and many new ones being built. I have friends from Hong Kong and China who live well north of Toronto in Bradford, Aurora, Newmarket. Have a look!  They’ve purchased large detached homes and they enjoy the more rural lifestyle with clean air and very good schools for their kids.

Cities such as Newmarket, Vaughan, Milton, Oshawa are in very high demand.  Homes in some Toronto districts are pricey, but likely not out of your range. If you can spend $2 million+, the area of King City and King township may interest you. This is where the wealthy are moving to. Magna International is an auto parts manufacturer in the area. This company is set to explode in growth due to its supply of parts for self-driving cars. Magna’s new headquarters will be in King township (north of Vaughan, west of Aurora)

If you have a modest budget, homes in Bradford, Orangeville, Stouffville, Keswick may have the least expensive prices for detached homes. For find condos for sale, Mississauga and North York are your best choices. Toronto and Mississauga are large cities and there are condos for sale across them.

If you need help with finding Toronto homes for sale, and advice on buying a home in Toronto, please Contact my business partner Damir Strk (homesforsalegallery.ca) for reliable, trusted assistance.  His experience with the Toronto and Mississauga real estate market will be a big asset for you as a buyer or real estate investor.

Realty Posts: When should I Sell My House? | RETS IDX | Zillow Home Search | First Time Home Buyers | Canadian Home Buyers Guide

New Homes for Sale in Richmond Hill

New Home Developments in Richmond Hill ON

richmondhillAlmost quietly, Richmond Hill has grown to almost 200,000 residents which is Canada’s 26th largest city.

The astonishing speed of population growth is due to the fact it is covers a large area north of Toronto, and many Toronto area homeowners are selling and moving to Richmond Hill.

Looking for new homes in Aurora, Newmarket, Vaughan or Mississauga?

What gives Richmond Hill its special flavour is its proximity to Toronto to the south and the green belt to the north. With the spaces to grow act in full force, Richmond Hill is poised to keep its distinctive lifestyle advantage. Being so close to Toronto is a boon to businesses and career minded people.




Richmond Hill is about as far as most Toronto businesses will go to find service and product providers. The exodus of Toronto businesses to the 905 area code, and a wealth of educated workers of many nationalities has made Richmond Hill a strong economic force.

It only makes sense that where such excellent economic and lifestyle advantages exist, that demand for new homes in Richmond Hill would be strong. Richmond Hill’s population has a varied ethnic makeup comprised of 33% asian, 33% east indian, and 46% caucasian. New buyers of monster homes in the city have inspired some exciting new designs which you can see below in the Richmond Hill new homes gallery.




There are numerous small new home developments, custom builds taking place in Richmond Hill on an ongoing basis. One of the bigger developments you should be aware of his Richmond Green located at Bayview Avenue and Bloomington Rd.  A number of builders have announced new home developments here including Mattamy Homes and Regal Crest who have built new luxury homes in Vaughan.

Surrounded by beautiful parks, landscapes and trails, Bayview Gates is situated in a peaceful environment. The community offers the best of both the serenity of the countryside and luxuries of city. — from Regal Crest Homes.

Monster Homes in Richmond Hill

Here’s just a small sample of some of the newer mega-homes that have been built in Richmond Hill of late. Many are adorned with soaring high pitch roofs, stone facades and of course huge interor square footage.

richmondhill1 richmondhill2 richmondhill3 richmondhill4

Acorn Homes is about to launch phase 2 of Oak Knoll near Yonge St and Bloomington Rd. Phase 1 saw the construction of a large number of luxury homes.

Current MLS Resales Statistics in Richmond Hill

Resale property transactions were evenly spread throughout Richmond Hill’s 18 MLS districts. The northern area of the city is where you’ll find new multi-million dollar mansions and custom builds.

richmondhillsmlsressales2nd2016

 

Bayview Gates at Richmond Hill

Regal Crest Homes is announcing homes ready for occupancy in October 2016 in a new community call Bayview Gates at Richmond Hill.




Check out the floorplans.

regalcrestbayview

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Digital Marketing Specialist – Skills Most Sought After – Toronto Canada

How Skilled should a Digital Marketing Specialist be?

If you’re on Linkedin or Indeed looking to fill a digital marketing specialist role in your company, there’s a wide range of skills you might hire for.

This post may open your eyes to a wide range of skills from copywriting to marketing automation management to predictive intelligence with AI Marketing software. At this point, firms are looking to reduce staffing costs while improving performance. One way to achieve that is to look for a specialist who can be a strategist, and who can contribute in a wide variety of ways from campaing testing to copywriting to SEO and social engagement.

You’ll discover there’s no unified description of a digital marketing strategist – it extends from email marketer to SEO specialist to social media manager to conversion optimizer. The specialist is only a specialist in the sense that it’s all digital. 

Digital marketers can extend their digital marketing prowess significantly through software.  As long as they have the basic creative and strategic capabilities, the digital marketing specialist  could inded contribute significantly to the company’s bottom line. 

The overall sentiment? There has been a significant increase in demand for both specialist skills and more general digital marketing roles across the board. When asked about the digital marketing jobs landscape, Jane Creaner Glen, Head of Recruitment and HR at the Digital Marketing Institute said, “I would say it is evolving all the time. A lot of companies are still looking for broad digital marketing skills at Manager and Executive level. Although, as the industry matures it is separating out more into specific skills areas, such as Content, SEO/SEM, Analytics and Social Media.” — from Digitalmarketinginstitute.com.




Needed Skills for a Digital Marketer Manager/Specialist

If you don’t actually do these things, you should at least have a good knowledge of or sensitivity to them.

  1. skillsSEO
  2. copywriter
  3. website and email administration
  4. email campaign management
  5. content research and content strategy
  6. content testing
  7. analytics and performance reporting
  8. pay per click advertising and media buying
  9. KPI planning and conversion optimization
  10. social media account management
  11. social media engager
  12. client management
  13. landing page designer
  14. brand image management
  15. marketing automation and AI marketing software execution

A Chance to Make a Big Difference

It’d be nice to be a pro at everything and it’s a great stretch goal to have. As a current candidate, trying to land a job as a DMM, I’m pushed to get the essentials nailed, and then develop into someone who will be a powerful producer for the company at a macro and micro level. The pain I’m going through now will be yours too if you’re looking to find a great job in digital marketing.

You’re on the right track here though as the digital marketing specialist is a key role, although resting on any one skill won’t suffice. Stick to these specific strengths? You need at least one outstanding go-to skill, however you should be versatile since you need to be on top of everything. 

Overall, it’s the ability to orchestrate or bring tools, channels, and customer experience together online.




digital-marketing-skills-updated

Big companies can hire a specialist to manage the digital marketing process, however smaller companies need someone with broader skills. In smaller companies, we may actually need to create content, do SEO, conduct monthly or quarterly email campaigns, as well as engage customers on social media.

You Have to Figure it Out

As a SMB digital marketing specialist, you’d want to be ready to do anything and be anything they require. For that reason, it’s important for a digital marketing specialist, automated marketing specialist, or online marketing manager to have a wide range of skills and be ready to upgrade skills soon. Even after you’ve mastered the educational, experiential, and team fit requirements, there’s the need for more software mastery.

Marketing Automation Software

That’s where marketing automation software arrives. It’s a suite of services that allow you to automate common digital marketing tasks such as email, social posting, blogging, traffic and lead scoring, track the lifecycle of customers in your marketing funnel.

The names Hubspot, Marketo, Eloqua, and Pardot are the heavy hitters for large scale automation. Smaller companies can use more cost effective solutions such as Canterras Engage, Brand Maker, Act-on, Wishpond or Active Demand. If you’re not with a larger agency, you won’t be using Hubspot or Eloqua.

Active Demand Marketing Automation Software

I’m learning Active Demand currently, which is a fairly new marketing automation offering. It’s presented nicely and might be a good software for you to cut your marketing automation teeth on.

There’s plenty of services modules as you can see in the graphic below. It’s pretty exciting to think you can do almost every marketing task from email campaigns to multi-variant testing. It’s intimidating at first, but once you learn the software, you’ve got some impressive marketing power.

Active-Demand
Screen cap courtesy of ActiveDemand.com

 If you’re interested in the other marketing automation software available, try these reviews.

http://www.ngdata.com/top-marketing-automation-software-tools/

http://www.canadianbusiness.com/innovation/how-startups-make-marketing-automation-affordable-for-small-business/

https://resources.workable.com/digital-marketing-manager-job-description

http://www.payscale.com/research/CA/Job=Digital_Marketing_Manager/Salary

Need a Digital Marketing Strategist? in Toronto, Give me a call. I’m looking forward to speaking with you.