Courtier Immobilier / Real Estate Broker
Bakhshi BOB VERMISHYAN
Welcome !
You will find the information here relevant and useful to you.
As a real estate broker in Montreal region I am committed being open and accountable to you, and I actively pursue ways to keep you getting the maximum of your real estate experience.
My website is one of the ways I do this.
My business was established with the goal of simplifying the real estate process for Buyers and Sellers.
I provide a client-focused experience designed to find or sell my clients' Condos, Lofts and Houses in the least amount of time for the right price.
A large portion of my business comes from ''referrals'' satisfied and loyal clients. My clients value my in-depth knowledge of the market place, strong negotiating and communication skills, integrity, sound advice and availability.
All of this translates into a more enjoyable and profitable real estate experience for you.
Call me at 514-802-4420 for a confidential interview to discuss helping you meet your real estate goals and objectives.
TIPS and FACTS FOR SELLERS
Should You Buy or Sell First?
To Sell Quickly, Make a Good First Impression!
Documents Needed When Selling
The Real Estate Broker - Your Path to Peace of Mind
Protection You Can Count On!
A Real Estate Broker's Compensation Is Well Deserved
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Is it better to buy a new home or sell your existing home first? Both options have their advantages and their risks. By carefully examining the pros and cons, and by providing alternatives in case of setbacks, you will be able to make an informed decision.
Selling First
By selling your current home before buying a new one, you wi’ll know the exact amount you wi’ll be receiving from the sale. You wi’ll therefore have a very good idea of how much money is available to buy your new home.
You might start feeling an urgent need to find a new home right away. But keep in mind that you wi’ll already have all the information needed to make your promise to purchase. For example, you wi’ll know when the buyers of your current home are moving in, and can therefore easily establish when you will need to take possession of your new home. If ever the dates do no’t coincide, you can always plan for temporary accommodation.
Buying First
When you buy first, you'’ll know your new address, the exact price of your new home, the date on which you’'ll become owner and the transaction date. You’'ll be able to consider these things when you receive a promise to purchase for your current home.
You can also make a promise to purchase that is conditional on the sale of your home. In this case, the owner of the property you’re interested in might receive another offer without any conditions. In order to give yours priority, the owner will ask you to withdraw your condition. You will therefore have to decide whether you’d rather buy that property before selling your existing home, or withdraw your offer.
One way or another, it’s a good idea to plan a temporary source of financing in case your current home isn’'t sold when you sign the purchase contract for your new home.
When the time comes to sell your home, you only have one chance to make a first impression.
The Exterior
The exterior appearance of your home is extremely important. An inviting exterior will attract buyers and encourage them to visit the inside of your home. Your lawn should be well maintained and, during the winter months, keep some photos of your lawn handy so that visitors can see what it looks like during the summer. Cleanliness is essential, so a cleared entrance and clean windows will also make a big difference.
The Interior
Inside, neatness is key. Clean your home from top to bottom and get rid of all unnecessary items. Remove any old furniture that is obstructing the hallways or cluttering up the rooms. Clear out any open spaces so that visitors don’t feel cramped.
Does the home need a fresh coat of paint? Newly painted properties often sell for more. Remember that dark colours can be detrimental to a sale. Instead, choose brighter, more appealing neutral tones. Your carpet’s appearance can also be a determining factor. If you can’t replace your carpeting, having it cleaned will help give the rooms a refreshing new look.
The kitchen and bathroom must be immaculate. Take the time to clean all appliances and faucets, as well as the bathtub, toilet and sink. Unclutter the counters and don’t leave any dirty dishes in the sink or towels around the tub. Give buyers a chance to visualize all storage possibilities.
Throughout your home, fix leaky taps, defective door handles, as well as drawers and cupboard doors that don’t close properly. Replace burnt light bulbs and yellowed switch plates. Most of these minor repairs are relatively inexpensive and will help visitors form a positive opinion of your home.
Creating Ambiance
Your home must be well lit. During the day, keep the curtains open and turn lamps on in the evening. If necessary, add lamps in dark corners. Make sure your home is well-ventilated so that visitors aren’t turned off by strong odours such as incense or spicy foods.
It’s important to be discrete when potential buyers are visiting. Leave your broker alone with the client. It will be easier for the broker to highlight your home’s strong points and the visitor will be able to voice comments and impressions freely.
Determining the right sale price is a crucial step when deciding to sell your home. More often than not, the price is the most determining factor for potential buyers.
Thanks to their privileged access to the MLS® system, a network that is reserved exclusively for brokers who are members of a real estate board, your real estate broker can evaluate your property and perform a comparative market analysis based on properties that are similar to yours and that were recently sold in your neighbourhood. Comparative market analyses are indicators of the price that todays buyers are willing to pay for a residence similar to your own, in a comparable area. The analysis takes into account your propertys features and the conditions of the current real estate market.
Getting Off to a Good Start
To sell your property quickly, its important that you set the right price from the get-go. When faced with a price thats too high, potential buyers may get discouraged, while those who can afford it will quickly realize that they can get better value for their money elsewhere. Its also good to remember that a property that lingers on the market for a long time tends to lose its appeal.
Selling on your own is risky business. Without in-depth knowledge of the market, you can easily underestimate the true value of your property and lose considerable profit. This is why a real estate broker is the best-suited professional to help make the most of your real estate transaction.
Setting the right price from the moment you put your property up for sale is to your best advantage. Youll be sure to attract more potential buyers and therefore sell your property as quickly as possible.
You’'ve decided to sell your property? To ensure that the transaction goes smoothly, you’ will need a variety of documents at different stages of the process.
Here’ is a list of documents to have on hand when selling your property:
◦
1. Property’'s certificate of location
◦2. Pyrite, vermiculite, iron ochre tests, etc., in certain regions
◦3. Bills for renovations to the property
◦4. The declaration of co-ownership, if applicable
◦5.The rental lease or leases in the case of plexes
◦6. Municipal and school tax notices
◦7. Monthly cost for electricity
◦8. Fixed costs for the property
The Real Estate Broker Your Path to Peace of Mind
A real estate transaction is a complicated and detailed process that requires solid knowledge of the real estate market and a skilful talent for negotiation. Why not use a real estate broker to take care of all the details for you?
When selling your home, your real estate broker will conduct a thorough analysis of the market in your neighbourhood, and will determine an accurate selling price. And by using the power of the MLS® system, your broker will give the home exceptional visibility to the more than 15,000 brokers who are members of a real estate board.
Think about it. To sell your home, you must be available seven days a week to conduct showings. Your real estate broker can take care of everything: responding to requests for information, managing telephone calls and showings, marketing your property to potential buyers, etc.
Once a promise to purchase has been submitted, it’s time for negotiations. In all real estate transactions, it’s fundamental that you have an experienced negotiator on your side and real estate brokers are truly experts in the field! They can help guide you through financing, qualifying buyers, sale conditions, building inspections, and all other legal aspects.
Brokers can also be intermediaries in your dealings with the many people involved in the sale of your property. Their large networks of contacts range from building inspectors to notaries, and from financial institutions to mortgage brokers. Brokers are a one-stop shop for all these services, and their involvement guarantees you the legal protection offered by the Real Estate Brokerage Act.
Doing business with a real estate agent means that you are protected by the law. The Real Estate Brokerage Act and various other organizations regulate the real estate agent profession so that consumers can expect fair and competent services. So, you know that you’ll be served by a highly qualified and well-trained professional.
Real Estate Brokerage Act
The main goal of the Real Estate Brokerage Act is to protect the public. To enforce this, the Act sets out specific rules relating to the brokerage contract for the sale of a house. They are similar to several of the regulations found in the Consumer Protection Act.
Association des courtiers et agents immobiliers du Québec
Created by the Real Estate Brokerage Act, the Association des courtiers et agents immobiliers du Québec (ACAIQ) is mandated to protect the public by regulating the professional activities of all real estate agents and brokers. It is responsible for administering the exam that leads to the practice certificate and it ensures that its members carry out their activities in compliance with current laws and regulations. For more information, visit www.acaiq.com.
Fonds d’indemnisation du courtage immobilier
Each agent contributes to the Fonds d’indemnisation du courtage immobilier. The Fonds d’indemnisation du courtage immobilier has the authority to compensate a consumer in the event that a problem arises during a transaction whether it relates to fraud, a dishonest transaction or the misappropriation of funds or other property. For more information, go to www.indemnisation.org.
Professional Liability Insurance
Real estate brokers must hold professional liability insurance, which ensures that consumers have additional financial protection in cases of fault, error, negligence or omission. This insurance covers civil claims and civil proceedings.
A Real Estate Brokers Compensation Is Well Deserved
Did you know that real estate brokers receive their compensation only when the notarized deed has been signed? The amount they receive for a real estate transaction is determined when the brokerage contract is signed with the client, but the amount is paid only when the transaction is made official.
Often called a "commission", compensation doesnt go directly into the brokers pocket. If a selling broker (representing the buyer) was involved in the sale, the listing broker (representing the seller) must pay a portion of his compensation to the selling broker. Also, as a self-employed worker, the listing broker incurs many expenses before even receiving compensation, such as liability insurance, as well as advertising, transportation and office fees.
Buying or selling a home can involve a variety of financial, legal and technical worries. By using the services of a real estate broker, you can accomplish one of lifes most important transactions without any complications. And remember, they only get paid if they get results, because brokers will receive their compensation only if they successfully sell your property.
Highly Qualified Professionals
Real estate brokers in Québec must follow a mandatory training course offered by a certified institution such as the Collège de limmobilier du Québec. Brokers have access to a wide range of continuing education activities that allow them to increase their knowledge and stay up-to-date on the real estate industry.
Real estate professionals in Québec must also pass an examination administered by the Organisme dautoréglementation du courtage immobilier du Québec (OACIQ) in order to obtain a certificate of practice. They are also regulated by a professional code of ethics and standards of practice. So as you can see, your real estate broker is a highly qualified and well-trained professional.
TIPS and FACTS FOR BUYERS
Becoming a Homeowner is a Great Move!
Take the Time to Analyze Your Needs
Single-Family Home, Condo or Plex?
Feel Like Investing? Think Real Estate!
Protection You can Count On!
Professionals Involved in Your Transaction
A re you currently renting and thinking about joining the ranks of homeowners?
You should know that in addition to providing numerous financial benefits, buying a home will help improve your quality of life. Not only do homeowners enjoy more freedom, they also have a strong feeling of pride, as well as peace of mind. It’s definitely a worthwhile investment!
A Well-Adapted Home
First and foremost, being a homeowner means living in a house that suits your tastes and fits your lifestyle.
Is your family growing – do you want a backyard and basement playroom for your children? The purchase of a home can help you benefit from these extra spaces and is also a good long-term investment. Condominiums and plexes offer other benefits: less maintenance in the first case and additional income in the latter.
Building Capital
Paying for a home is a bit like making long-term savings. Instead of paying rent to a landlord, your monthly mortgage payments are used to finance your assets and build capital that you will recover once you finish paying.
A Profitable Investment
Across Canada, the value of real estate investments has increased significantly over the past ten years. In Québec, the median price of a single-family home grew from $110,000 to $186,500 between 2002 and 2009. This 70% increase translates into an average appreciation of 9% per year.
Taking Advantage of Fixed Payments
Tired of rent increases? Unlike tenants who must deal with these fluctuations, as a homeowner, you can enjoy fixed payments for many years and, depending on the type of mortgage you choose, protect yourself against possible interest rate increases.
A New Lifestyle
Unleash your creativity and decorate your house as you wish, without worrying about the restrictions that are imposed on tenants. Any amount invested in decoration or renovation will be for your benefit. Moreover, nobody can make you leave your home, or enter uninvited for inspection or maintenance.
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Y oure dreaming of a big house on the waterfront, but does it really fit your lifestyle? Consider this carefully because its important to distinguish your dream home from the one that actually meets your needs. Before you begin your search, take the time to consider your needs thoroughly.
Your Needs
Every family has its own needs and priorities. How many rooms and bathrooms will you need? Is a dining room a necessity? And what about the garage? Will it turn into yet another storage space?
Your Tastes
Consider your style. If youre not enthusiastic about do-it-yourself projects, avoid homes that require major renovations. And even if a spacious yard seems attractive, are you willing to spend the time caring for it? If you prefer city life youll have access to theatres, services and restaurants, but itll be noisier and wont have as many green spaces. In other words, determine your priorities!
Whats Your Budget?
Dont make the mistake of buying a home that is out of your price range. To find the home thats right for you, adapt your needs to your budget. Once youve become an owner, your investment will start to increase in value and will eventually help you access a home that is closer to your ideal. In the beginning, its important to put savings aside for small purchases and unexpected expenses. Ensure you have enough money for maintenance costs such as insurance and repairs, as these can amount to 2% or 3% of the price of your home per year.
Your Environment
The environment is also an important factor. Is there a daycare or school nearby? Can your children take public transportation or will you need to drive them around? Consider the distance between home and work too.
B uying a home is undoubtedly one of the largest purchases youll make in your lifetime. Its important that you carefully choose the type of property that suits your needs and make a well-informed decision.
The single-family home is by far the most popular type of property. There are many advantages to a single-family home: you can arrange and decorate it the way you like, and you have maximum privacy since no one else shares your space. However, maintaining the exterior of the house can require lots of time and money.
Condos, which are gaining in popularity, are ideal for those people who dont want to invest time in lawn maintenance. However, its important to choose a building whose owners have a similar profile to yours, since you will need to agree on issues such as renovation work and building maintenance. Also take into consideration the maintenance fees that you, and all of the other owners in the building, will need to cover.
A plex is a revenue property with two, three, four or five dwellings (duplex, triplex, quadruplex, quintuplex). The financial benefits are indisputable you collect rent to help you pay your mortgage. Furthermore, a portion of the interest is tax deductible since part of the mortgage loan enabled you to acquire investment income, and any amount invested in maintaining your tenants dwellings is tax deductible. However, a plex wont give you the same privacy as a single-family home.
B uying a house is like long-term savings. As an owner, you make mortgage payments every month that finance your assets and allow you to build capital that you can recover at a later date when you sell your property.
Across Canada, the value of real estate has increased significantly over the last decade. In Québec, the median price of single-family homes almost doubled in the past seven years, increasing from $110,000 in 2002 to $186,500 in 2009. This represents an average appreciation of close to 9% per year. And this growth is far from over if we look at the trends for the factors mentioned below.
What Drives the Residential Real Estate Market?
Whether you&re already a homeowner or about to become one, owning property is one of the most important investments youll make in your lifetime. Therefore, you should be aware of the four main factors that influence the shape of the real estate market, which are population growth, interest rates, income and socio-demographic trends.
It stands to reason that everyone needs somewhere to live and thats why the strength of the residential real estate market is directly linked to demographic growth. Whether its as a result of immigration, migration or natural population growth, the higher the population increase, the higher the demand for housing and thus, the stronger the market.
Interest rates also play an important role in the real estate market. When rates are lower, generally the market is stronger as lower rates mean less cost to finance a property. This, in turn, encourages consumers to become owners, or to buy larger or more luxurious properties or renovate.
When property values are increasing, its generally a true reflection of a households ability to pay. Therefore, the markets strength is closely connected to job creation and a household`s disposable income.
And finally, there are certain socio-demographic trends which have an impact on the real estate market. For example, when households get smaller, meaning more and more people have chosen to live alone as has been the case over the past decades, more properties find buyers.
In conclusion, remember the law of economics: price is always a reflection of supply and demand. So, all other things being equal, high demand means higher prices.
Doing business with a real estate broker means that you are protected by the law. The Real Estate Brokerage Act and various other organizations regulate the real estate broker profession so that consumers can expect fair and competent services. So, you know that you’ll be served by a highly qualified and well-trained professional.
Organisme d’autoréglementation du courtage immobilier du Québec
Created by the Real Estate Brokerage Act, the Organisme d’autoréglementation du courtage immobilier du Québec (OACIQ) is mandated to protect the public by regulating the professional activities of all real estate brokers. It is responsible for administering the exam that leads to the practice certificate and it ensures that its members carry out their activities in compliance with current laws and regulations. For more information, visit www.oaciq.com.
Each broker contributes to the Fonds d’indemnisation du courtage immobilier. The Fonds d’indemnisation du courtage immobilier has the authority to compensate a consumer in the event that a problem arises during a transaction whether it relates to fraud, a dishonest transaction or the misappropriation of funds or other property. For more information, go to www.indemnisation.org.
In the course of buying a property, aside from your broker, you will get to know a number of professionals working in the real estate industry. Since real estate brokers are central to any real estate transaction, they can help coordinate your transaction by being the link with the other people involved in the purchase of your property. Here’s an overview of the services offered by each participant.
Land Surveyor
Land surveyors are the only ones authorized by law to delineate public and private property in Québec. Owners may call on their services to determine the boundaries of their lot using markers or to prepare a certificate of location.
The Ordre des arpenteurs-géomètres du Québec brings together all members of this profession.
Mortgage Broker
Mortgage brokers help their customers find the best mortgage loans. They find loans whose conditions best meet your needs: prepayments, financing an old house, self-employed worker loan, etc.
Mortgage brokers must hold a certificate by the Organisme d’autoréglementation du courtage immobilier du Québec. They are listed under "Mortgage Loans" in the Yellow Pages directory. You can also visit the Website of the Canadian Association of Accredited Mortgage Professionals.
Appraiser
Chartered appraisers provide an objective estimate of a property’s value. Their appraisals are used for insurance, mortgage, estate settlement and asset sharing purposes. They also serve as expert witnesses in court and their report can be used as supporting documentation in the appraisal of a property.
To obtain the title of a chartered appraiser and the right to use the "É.A." designation, appraisers must be members of the Ordre des évaluateurs agréés du Québec.
Inspector
Before buying a property, it is strongly recommended that a building expert inspect it first.
Since the building inspector profession is not under governmental regulation, it’s important that you use an inspector who belongs to one of the following professional associations: technologists, engineers, chartered appraisers and architects. Inspectors who belong to one of these associations offer the public an increased level of protection, as they are overseen by their professional association. The Québec Association of Building Inspectors ensures that its members in Québec comply with professional standards.
For more information, visit the Website of the Association des inspecteurs en bâtiment du Québec or the Website Inspection Préachat.org.
Notary
A notary is an essential component of any real estate transaction. They are, along with lawyers, the only ones legally entitled to draft a mortgage deed. They also write up the deed of sale and perform a title search to ensure that the purchased property is free from obligations.
Notaries are members of the Chambre des notaires du Québec.
ROYAL LEPAGE ALTITUDE
1215 Notre-Dame O.
Montreal, QC H3C 0B1
bv_royallepage.ca
Tel: 514 . 846. 0909
Fax: 514. 846. 0902
Cell: 514. 802. 4420
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