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Safe at Home: The Story of Friendship Between Coldwell Banker Canada and the Homes for Dogs Project
July 19, 2023
Donna Pyette surveyed the joyful scene at Fox & Hound Canine Retreat near Sarnia, Ont.—the dogs, the sunshine, the people, the laughter, the barking, the splashing, the community spirit—and she didn’t waste her words.
“This is unbelievable,” she said. “It’s really incredible.”
Pyette is the executive director of the Sarnia Humane Society. She was one of 2,000 or so people and the hundreds of dogs who turned out on a lovely day in June for the 5th Annual Dog Festival presented by the Coldwell Banker Homes for Dogs Project. The festival raises money and awareness to meet the plight of shelter dogs looking to be rescued.
The issue isn’t going away.
“Typically, for the Sarnia Humane Society, we see about 3,000 animals a year,” Pyette said. “That has increased substantially since Covid has ended. We’re seeing intakes of dogs, especially, that we haven’t seen in 30 years.”
The Covid exit has not been especially kind to dogs, who were adopted at elevated rates as so-called “pandemic pets.” In a routine year, the humane society’s 32 kennels would be half to three-quarters full, and the dogs would come in and get adopted out quickly, said Pyette.
“Now, the stay time is longer and there are more of them,” she said. “We’re full.”
Dock diving is a big attraction at the dog festival in Sarnia.
To the rescue
A little less full now. This year, the Sarnia festival adopted out 39 dogs (and counting) and helped raise $48,000 (and counting) for the humane society.
“It’s just the whole community coming together to support us and to support the vendors, to support Fox & Hound,” she said. “What’s really nice about it is that the dogs in our care that we brought along all have appointments for meet and greets with prospective owners”.
Creature comforts
Summer Scott attended the festival, too. Scott, an animal rescue veteran herself, is Vice-President, Marketing & Communications, at Coldwell Banker Canada. She was struck by the vital role that pets continue to play in the lives of their owners.
Scott said that inescapable fact has been underlined during a summer of forest fire evacuations in her home province, Alberta.
“When emergency evacuations are announced, evacuees are reminded to take three categories of things with them,” she said. “They’re told to take important documents and to take their medications—and they’re also told to take their pets.”
Scott said that those emergency evacuation orders answer the old hypothetical question, what would you take with you if your house was on fire?
“We are told to take proof of our existence and the medicine we need to stay healthy and to not forget the sense of home that pets provide,” said Scott. “Pets bring with them the precious feeling of home.”
Rob Longo, Broker/Owner, Coldwell Banker Southwest Realty, Sarnia, Ont.
“We love supporting Homes for Dogs”
Rob Longo was also at the festival in Sarnia. Longo is sold on the role that dogs and pets play in helping to make a house a home. Longo is the Broker/Owner of Coldwell Banker Southwest Realty. His brokerage sponsors and helps organize the Annual Dog Festival presented by the Coldwell Banker Homes for Dogs Project.
“We love supporting the Homes for Dogs event,” Longo said.
“The biggest thing that we find is when we’re selling homes, we’re not just selling houses. We’re selling a place for your family to live—yourself, the kids, the grandkids, all your pets and animals. And we know how important that is for homebuyers.”
Coldwell Banker Canada’s Homes for Dogs project in action.
Putting heart into Homes for Dogs
Karley Chamberlain worked for months to ensure the dog festival ran smoothly. Chamberlain is the Marketing Director at Coldwell Banker Southwest Realty in Sarnia. She said dogs deserve the same feelings of safety, companionship and love that humans rely on them to provide.
Karley Chamberlain at the 5th Annual Dog Festival presented by the Coldwell Banker Homes for Dogs Project, June 2023.
“You want to find a home for a rescue dog as much as you want to find a home for a person, just on a different level,” said Chamberlain. “It’s so easy to put your heart into something like that.”
That virtuous circle is why Coldwell Banker Canada representatives have dug into the Homes for Dogs Project. Homes for Dogs started as an initiative of Coldwell Banker in the United States. It’s been adopted by Coldwell Banker Canada, where affiliates across the country have volunteered time, organized supply drives, raised and donated money, taken to social media and hosted and helped at local adoption events.
“Home is where the dog runs to meet you!”
Globally, the Coldwell Banker network has helped to find forever (also pronounced “furever) homes for more than 100,000 dogs. The Homes for Dogs Project has reached more than 1.8 billion people on social media.
“At a corporate level, we love to get our hands dirty at our local shelter partner, the Alberta Animal Rescue Crew Society, where we help by cleaning enclosures, sorting supplies and socializing animals,” said Coldwell Banker Canada’s Scott. “Between raising awareness and monetary supports, Coldwell Banker Canada believes in trying to make a difference.”
Making a difference for the people whose lives are enriched by pets. And making a difference for the likes of Ziggy in Kelowna.
Crunch in Vancouver.
Bubba from Winnipeg.
And Kipper in St. John’s.
Safe at home
Coldwell Banker Canada’s Homes for Dogs Project is built on the priceless feeling known to homeowning dog lovers everywhere: home is where the dog runs to meet you.
That warmth deserves to be gifted back to the warmth-making dogs themselves.
“It’s a mutual thing,” said Scott.
Summer Scott, VP, Marketing & Communications at Coldwell Banker Canada, has more than a decade of animal rescue experience herself.
Coldwell Banker Canada, Guiding Star Mortgage Experts Share Helpful Insights Into Latest Bank of Canada Interest Rate Hike
July 12, 2022
The Bank of Canada has increased its key policy interest rate to 5.00%—a jump of 25 basis points from June and the latest of 10 rate hikes in the last 16 months.
If real estate is about location, location, location, the central bank’s rationale is about inflation, inflation, inflation.
“While CPI inflation has come down largely as expected so far this year, the downward momentum has come more from lower energy prices, and less from easing underlying inflation,” the Bank of Canada said in a statement.
“With three-month rates of core inflation running around 3½-4% since last September, underlying price pressures appear to be more persistent than anticipated. This is reinforced by the Bank’s business surveys, which find businesses are still increasing their prices more frequently than normal.”
Inflation in Canada has fallen from a peak of 8.1% last summer to 3.4% in May.
The Bank of Canada expects inflation to remain at about 3% for the next year before declining gradually to its 2% target by the middle of 2025, six months later than expected.
Housing prices received some of the closest attention from the Bank as it explained its decision.
Photo courtesy of Bank of Canada.
Housing prices and inflation
“The previously unforeseen strength in house prices is likely to persist and boost inflation by as much as 0.3 percentage points by the end of 2023, compared with the January outlook,” the Bank said its newly published Monetary Policy Report.
The upward revision to the inflation outlook is due in part to those higher-than-expected house prices, the Bank said. House prices increased in May for the second straight month. Increases in both prices and resales have been widespread across the country and stronger than predicted in January.
Courtesy of Bank of Canada.
A better seller-buyer relationship in Ontario
The Bank’s announcement came as little surprise to experts across the Coldwell Banker Canada-Guiding Star Mortgage Group network. Here, from the front lines, are some takeaway insights from the Bank of Canada’s interest rate announcement.
Marc Ronan, Broker/Owner of Coldwell Banker Ronan Realty, said the Ontario real estate market remains strong from a price point of view.
“The challenge is that our jobs sector is sadly lacking in employees right now,” Ronan said. “We’re short in the labour market in Ontario, drastically, and it’s creating an inflationary situation with builders and developers in the housing market.”
Ronan, whose market centers on the lucrative Golden Horseshoe area of southern Ontario, said he does not expect to see interest rates to drop for some time.
Marc Ronan, Coldwell Banker Ronan Realty, says interest rate hike is more of a global economy adjustment
“This is not a Canadian thing, we’ve still got a solid economy in the U.S. and Canada,” he said. “This is more of a global economy adjustment. Interest rates were too low for too long. It created massive inflation. And now we have to deal with it.”
That dealing-with-it has begun, he said, explaining that there is the beginning of an acknowledgement of the current reality between house buyers and sellers.
“In the last few weeks, since the June rate increase, we are seeing some product consistency that is giving the buyers a little more leverage to acknowledge the interest rate cost in purchasing a home,” Ronan said.
“The sellers are now starting to acknowledge that the market is not what it has been in the last five years and we’re seeing a better seller-buyer relationship where there’s more collaboration to get real estate transactions together now. I do see that being a consistent item necessary for the market to remain reasonable in the next six months to a year.”
No decline in prices in Surrey, B.C.
Bianca Myddleton, Broker/Owner of Coldwell Banker Marquise Realty in Surrey, B.C., agreed that record low rates over the past few years are gone.
“Today’s announcement has put the prime rate [the interest rate that banks and lenders use to determine the interest rates for many types of loans and lines of credit] at the highest it has been in 22 years,” said Myddleton.
“This rate is burdensome on those with variable-rate mortgages, HELOCs, and lines of credit,” she said. “Meanwhile, sales and home prices in Canada’s housing market have accelerated over 2023, which suggests that financial conditions have not been restrictive enough.”
Get the advice of a mortgage broker, says Bianca Myddleton, Coldwell Banker Marquise Realty
Myddleton said home sales have “slowed a little” in her are, but “the fall market will be a better indicator.”
She reports no decline in prices in the White Rock-Surrey area, and some price drops in Vancouver, but nothing significant. What she has started to notice is in the rental space.
“I do find people that have rental properties are starting to sell them because the payments have increased, and, in B.C., one can only raise rent 2% per year. This is going to add to the shortage of rental properties.”
Myddleton has also noticed that some buyers in her market sights are re-setting their sights on how much mortgage and how much house are within reach.
“I do find that people are having to qualify at two points over prime rate, so the person who was looking at a $1-milion home now has to set their sights a little lower in order to purchase,” she said.
Her advice for clients looking for a mortgage in the wake of the Bank of Canada’s decision to hike its rate?
“I encourage clients to make sure that they speak with a mortgage broker about all of the options,” she said. We won’t see low rates as we did in the past, and there are several options.”
Time to reconsider short-term rate approach
Shaun Westlake, Vice-President, Sales, for Guiding Star Mortgage Group joined the chorus of experts not expecting rates to come down anytime soon.
The Bank of Canada’s extended timeline to 2025 for inflation reaching its target of 2% caught his attention.
“This is a slight change to earlier commentary and expectations which leads me to think we are going to see rates well above 5% for a much longer period than we had previously expected,” he said. “Many were previously banking on rates starting to come down in early 2024. I no longer see that happening.”
Guiding Star Mortgage Group’s Shaun Westlake suggests reconsidering short-term mortgage rate strategy
Consumption levels and demand for housing will continue to rise and a growing population will mean more supply but also more demand for goods, all of which contributes to pressure on inflation rates, Westlake said.
“I expect that the interest rates we see today are going to be here for quite some time to come, so anyone who has been thinking short-term rates are the way to go should perhaps reconsider that approach,” he said.
A wallet wallop is around the corner for some Canadians, he said.
“We are getting into prime summer vacation time, people are still travelling, and spending,” Westlake said. “With inflation continuing to run above 3%, with interest rates not coming down any time soon, housing continuing to be in high demand, I do expect that this latest rate increase will start to really impact Canadians’ wallets.”
The final word from Ottawa
Ross Webley, Broker/Owner of Coldwell Banker First Ottawa Realty, said the Bank of Canada’s interest rate decision was tough news, especially for people with lower income.
“Obviously, most people need a mortgage, so it’s going to affect them,” Webley said. “Some people are not going to be able to enter the market because of it.”
Higher rates may present opportunities for buyers, says Ross Webley, Coldwell Banker First Ottawa Realty
Webley said he sympathizes with people in the market overwhelmed by all the information coming at them.
“Inventory is still low, but, in some cases, people are holding off to buy because they don’t quite know what to do—and I’m one of them. We’re looking to downsize but we’re a little afraid of the market. First, we have to find something. The rental market is tough. To buy is tough. A lot of people sit on the fence.”
Webley suggested that buyers keep in mind that, generally speaking, when rates are up, there’s pressure on prices to come down.
“If you need to buy, buy,” he said. “You can’t always just wait. I think there are opportunities to maybe get a better price on the house than you normally would a couple of years ago. Sellers have to realize that this is what’s happening.”
Welcome, Sarah Brophy-Platts! Coldwell Banker Escarpment Realty Gears Up to Help Serve Halton Hills in the Greater Toronto Area
July 5, 2023
Sarah Brophy-Platts, the Broker/Owner at the new Coldwell Banker Escarpment Realty office in Acton, Ont., politely paused the interview over Zoom to take a call from her local automobile mechanic.
“$78.50 for a light bulb?!!!” she asked, slightly exasperated.
It was mostly labour, she was told. The light bulb in question was in a difficult place to get to, she was told. “Okay, okay, approved, go ahead, I get it,” she said. “Aaargghh.”
Brophy-Platts knows her way around real estate brokerages—and automobiles, too. She knew she wasn’t being sold on unnecessary work. Systems are complex these days.
“The light bulb is in a tricky spot, he’s right,” she said. “So is the oil filter. It’s right up against a coolant pipe. You’ve got to know what you’re doing working in there.”
Coldwell Banker Escarpment Realty, Acton, Ont.
Escarpment Realty Broker/Owner runs on knowledge
Sarah Brophy-Platts admitted that she has “a need for knowledge and a need for understanding how things work, no matter what it is.”
Some credit for that trait goes to her father, John. A young Sarah Brophy was allowed to drive the 1991 Buick Regal when she knew the basics of how the car worked and how to keep it running.
“I grew up changing my own oil and changing the tires,” she said. “I did ball joints. I did tie rod ends. I did brakes. I did the windshield washer pump.”
On one occasion, suspecting the car had a faulty water pump, John took the device apart.
“And it was completely apart,” she said. “There was nothing I could do except figure out how to put it all back together. That was a difficult one, but I got it done.”
Coldwell Banker Escarpment Realty’s Sarah Brophy-Platts was voted Hometown Hero in Halton Hills.
Brokerage converts to Coldwell Banker
Sarah Brophy-Platts has carried that desire for knowledge and that skill for keeping things running into her business and into her community.
In 2010, after college, she got her real estate license and started on a team with RE/MAX, having left behind a previous gig as a video game marketer on big projects that included the launch of Playstation’s PS3.
“We helped sell the actual games in the cases, the actual disks,” she said, “but then everybody started downloading them. The industry had changed, so, I did, too.”
A few years later, she moved to Royal LePage as an agent, became a Broker of Record, then Partner, and then she bought the business outright in 2021.
Brophy-Platts now brings her agents and her knowledge of the business to Coldwell Banker Canada.
“Coldwell Banker Canada has made me feel comfortable from the beginning,” she said. “They’ve provided support and encouragement. I like the way that they do business. We’re a small town in Acton and we’re a small-town brokerage. We’re not massive. They support that. I like that idea.”
Paul Abbott is a Vice-President of Franchise Development at Coldwell Banker Canada.
Paul Abbott, VP of Franchise Development
Abbott said the arrival of Coldwell Banker Escarpment Realty means clients in Halton Hills have another experienced team led by a knowledgeable and innovative Broker/Owner.
“That brokerage exemplifies what it means to be a Coldwell Banker franchise,” said Abbott.
“They know their community, they know their business, they have strong technology and training,” he said. “They and the clients they serve are now part of the national and international Coldwell Banker network.”
Escarpment Realty joins Suzanne Clark, Broker/Owner of Coldwell Banker Fieldstone Realty in Georgetown, Ont., in serving customers in the area.
Community commitment
Brophy-Platts also brings to Coldwell Banker her commitment to the community of Acton (pop. 9,377) where she grew up. The affection for home goes both ways. In 2022, the Halton Hills Chamber of Commerce voted her Hometown Hero.
“I was so surprised,” she said. “It’s so nice to be recognized for things you don’t expect recognition for.”
Pumpkin Promenade in Acton, Ont. After the event, the jack-o’-lanterns are donated for feed to area farms.
In 2015, Brophy-Platts founded the Pumpkin Giveaway and, in 2020, in the throes of COVID isolation, co-founded and co-organized the Pumpkin Promenade.
Imagine more than 500 pumpkins carved into jack-o’-lanterns lit from the inside by little electric lights (the dollar-store variety, not the Volkswagen engine variety J ) and placed a-glow along the Town Hall Centre streets. That’s the Pumpkin Promenade.
“It’s just beautiful,” said Brophy-Platts.
“And it’s outdoors,” she added. “At the beginning, in Covid, it brought people out who were reluctant to be with each other inside, and it kept us all together. It has just kept growing.”
Brophy-Platts does these things to help keep community life humming.
“I do these things in the community because I enjoy them and my kid enjoys them, and I want to see my kid grow up in a town where we have sports and programs and fall fairs and all the rest that are worth going to—and staying for.”
Sarah Brophy-Platts is a Coldwell Banker Broker/Owner—and a character—in Acton, Ont.
Brokerage expertise
Keeping a close eye on all the moving parts of a real estate brokerage is second nature for Brophy-Platts.
There’s the law and the regulations and a code of ethics that the Brokers/Owner must know inside-out. The offer must be constructed on a solid understanding of rights and obligations. There’s the need for a deep knowledge of what buyers and sellers want and need. Market trends must be mastered. IT acumen is required. Emergencies call for calm navigation through, and opportunities need a creative eye to take advantage of. Agents require the latest in Coldwell Banker training and mentoring.
“I do love my job,” Brophy-Platts said.
“In real estate, I want to know how things work so that I can help guide the agents and help deliver the best experience possible for our clients who trust Coldwell Banker with the most important investment in their lives,” she said. “That’s important work.”
Sarah Brophy-Platts, Broker/Owner, Coldwell Banker Escarpment Realty.
Putting a deal back together
It can be painstaking work, too.
Brophy-Platts remembered being the selling agent for a property in what became an ordeal for everyone involved. In the mix were a tenant, a couple looking to buy their first property and the law.
“I felt bad for the buyers,” Brophy-Platts said. “It was eight straight months of trying to get the house closed. It wasn’t about me, it wasn’t about them, it was about the law and how things had to be written. They had no way out other than walking away from their deposit.”
Name-calling ensued. “They called me names. It was not pleasant.” The deal was in pieces. Like she did in the water pump episode, Brophy-Platts faced it and helped put it back together. “I accepted their anger and put it aside.” The deal closed. Foes became friends.
“We celebrated,” Brophy-Platts said. “Those buyers are wonderful people. We’re friends now. We stay in touch. We play baseball together.”
The takeaway for Brophy-Platts was that stress alters people temporarily.
“When people are under extreme stress, they are not the people who they actually are,” she said. “That is a good lesson for all of us to remember for life.”
What’s that sound?
Handling, diverting or defusing stress is the job of the Broker/Owner in modern real estate.
“Knowing preventative measures, knowing what to do when things don’t quite go as planned, that’s part of the job, too,” Brophy-Platts said.
Having those skills in a friend is invaluable. Recently, Brophy-Platts took a phone call from one such friend.
“She’s driving along and she’s like, Sarah, my car is going guh-guh-guh-guh-gug-guh-guh-guh. I was, like, your lug nuts are loose. Pull over.”
The friend thought she could make it the 20 minutes home. The realtor said pull over. The friend kept driving. They negotiated. The realtor convinced the friend. She pulled over. Good thing.
“I walked her through it, she tightened up the lug nuts, they were finger loose,” said Brophy-Platts.
Grand re-opening
Coldwell Banker Escarpment Realty’s grand re-opening happens July 14 from 2 p.m. to 7 p.m. at 2 Mill Street East in Acton. It’s an opportunity for Brophy-Platts to say thank you to the people who have meant the most to her along the road—her parents John and Min, husband Kris, son Gray, along with the professionals she works with and those who work for her.
Friends, colleagues, clients past and present, Pumpkin Promenaders, everyone from Acton, Georgetown, Limehouse, Rockwood, Guelph and beyond are welcome.
“Bring your questions about real estate or the market or just come by to say hello,” said Brophy-Platts. “We want people to see the knowledge at Coldwell Banker Escarpment Realty that is ready to be put to use to serve them.”
– 30 –
Gen Blue Canada 2023 Keynote Speaker Recap
Gen Blue Canada 2023 wouldn’t exist without our amazing lineup of speakers, particularly the Keynote speakers who hold a special responsibility. Armed with energy, insight, emotion and entertainment, they set the tone for the beginning of each day and bring the energy as it comes to a close. We meticulously curated our speaker sessions this year and are thrilled with the turnout and positive feedback we have received. Here’s a recap of all of our amazing Keynote speakers!
Broker/Owner Day – May 30th
Drew Dudley
Drew Dudley kicked off the very start of our conference on May 30th, a day specifically for Broker/Owners. Drew Dudley, an author and leadership expert whose Lollipop Moment TEDx talk has almost 6.3 million views, literally rolled up his sleeves as the first Keynote speaker and shared his ink with us.
On his right forearm, the tattoo reads: I want to build a better life for myself, and a better self for my life. On the left, What would the man I want to be do?
“I realized that they’re called tattoos because you have to get two,” he said.
Drew has woven those two precepts into his theory of everyday leadership that he shared with our network at Gen Blue Canada. He stressed the vital importance in business of knowing your own personal values, or, in other words, knowing who you are.
“Individuals who have a very clear conception of both their own values and the company’s are, by far, the happiest and most productive and most committed to the organization,” he said. “The least committed, least happy, least productive employees are the ones who have a very clear concept of the company values, but do not understand their own and do not live their own.”
Drew Dudley in action at Gen Blue Canada 2023 in Vancouver.
Drew was a big draw for Brin Werrett, Broker/Owner of Coldwell Banker Local Realty in Regina. “I read Drew’s book [This Is Day One: A Practical Guide To Leadership That Matters] a few years ago after a friend recommended it,” Brin said. “I had really enjoyed his Lollipop Moment TED Talk. When I saw Drew’s name on the agenda, I was really excited to have the chance to see him in person.”
Brin said Drew’s strength is his ability to use stories to bring high-level concepts down to earth. “Drew is a great storyteller, which pairs nicely with his concepts and explains how anybody can be a leader in non-traditional ways.”
Drew Dudley, left, with Brin Werrett of Coldwell Banker Local Realty shared notes about leadership at Gen Blue Canada 2023.
Brin added that Drew’s wisdom has left a lasting impression on him and his brokerage. “There’s a few quotes in his book that stuck with me and ended up in my business plan and really helped to define some of the key pillars we wanted to implement.” In fact, Drew Dudley is on page 1 of Brin’s business plan in a quotation from the Empowerment chapter of the book, which Brin knows by heart:
“If you have a skill or develop a skill that allows you to outperform 90 per cent of the people in your organization, you’re probably going to make six figures. However, if you can become the type of person who makes everyone who works with you outperform everyone who doesn’t work with you, you become indispensable.”
Full Network, Day 1 – May 31st
Liz Gehringer
Our first full conference day opened with exciting celebration, as we had the pleasure of welcoming Liz Gehringer, President and CEO of Anywhere Real Estate, as our opening Keynote Speaker. Liz came with her usual enthusiasm and style, inspiring us with the impact of our global network, and reminding us just how far-reaching Coldwell Banker is. She spoke on the many initiatives of our vast company, and touched on the importance of collaboration and connection.
Liz Gehringer in action at Gen Blue Canada 2023.
“It was an honour to have Liz visit us in Canada. She is such an inspiring leader and her spirit and energy is so infectious. As a company that expands all across the globe, it feels great to have presence from the global leadership here in Canada when we host our national conference”
We are extremely honoured to have had Liz as our opening Keynote, and she perfectly set the tone for the rest of the conference to follow!
Daniel Lewis
Daniel Lewis, closing Keynote for Day 1, is an entrepreneur, author and motivational speaker and the founder of the award-winning tea company, T by Daniel. After a long day of learning and networking, Daniel definitely brought some much needed energy to his presentation and taught us many valuable lessons when it comes to life and conducting business.
His approach is people-focused, detail-oriented and non-traditional, but his teachings were very applicable (the acronyms definitely helped)! Daniel shared with us how we can embrace ‘The POP’, meaning the Power of Personality and how to be a real CEO- Catching Every Opportunity.
Daniel Lewis in action at Gen Blue Canada 2023.
Jimmy Schimmel of Coldwell Banker Local Realty was a big fan of Daniel’s presentation. “Daniel was so fantastic! He was entertaining, had crazy good energy, and engaged with the audience in a way that was easy to comprehend and applicable. Daniel was a great storyteller and highly motivational. He had great points that had everyone whipping out their phones to take pictures of the presentation slides because they were just that good!”
Daniel’s presentation had a particularly unique impact on Jimmy after he volunteered to help Daniel with a demonstration. His highlight for the presentation was a very interesting match of rock, paper, scissors- nothing beats rock- right Jimmy?
Jimmy Schimmel and his unforgettable game of rock, paper, scissors.
Although rock, paper, scissors might have been the highlight for Jimmy, his biggest takeaway was the importance of your personality. “Don’t sacrifice your personality, just be uniquely you. ‘Sacrificing your personality is like cutting off your wings to fit into a cage. In the end, you may find yourself trapped and unable to soar towards your true potential’,” Jimmy said, quoting Daniel.
Another key takeaway from Daniel’s presentation was that the only difference between ordinary and extraordinary is just a little extra, meaning doing the simplest little things can have the biggest impact. Daniel shared real-life examples on how this theory has applied to his business and the impact that a little ‘extra’ had on his success.
Needless to say, Daniel was energetic, engaging and a powerful storyteller. We left his presentation feeling inspired, energized, empowered to embrace our full potential and ready to let our personalities shine. The perfect way to end the day!
Full Network, Day 2- June 1st
Gerald Clerx
Day 2 started off in the early morning, and we couldn’t have asked for a better way to kick things off than with the incredible Gerald Clerx and his captivating keynote presentation, The Engagement Styles Matrix: The science of connecting with your clients. Combining entertainment and invaluable insights, Gerald had us hooked from the moment he took the stage. His unique blend of humor, knowledge, and inspiration left us both entertained and enlightened, setting the tone for an incredible day ahead.
Gerald started his presentation by introducing the audience to the four primary personality profiles of the DISC model: Dominance, Influence, Steadiness, and Conscientiousness. He engaged the crowd by having everyone stand up and identify with the profile that resonated with them the most, creating an interactive and energizing atmosphere as Gerald playfully teased each profile.
Glenn Kubish, our VP of Public Relations introducing Gerald Clerx
Once the audience grasped the concept of the different profiles, Gerald used the matrix to unravel the mysteries behind those moments when we find ourselves losing a listing presentation that we were confident about winning, or have a buyer walk away from a property we were certain they would buy. By examining the different engagement styles and understanding the diverse motivations of our clients, Gerald equipped us with the knowledge to adapt our approach, tailor our strategies, and effectively navigate these situations. With the Engagement Style Matrix as our guide, we can unlock greater success and ensure better alignment between our clients’ needs and our offerings.
One anonymous attendee praised Gerald Clerx, stating, “His industry knowledge, studied approach, and sense of humor make him pretty awesome”. Another attendee described him as “entertaining, well-spoken, and skilled at engaging the crowd.” It is evident that Gerald successfully connected with everyone in the room, leaving us with fresh insights on building client connections. What a fantastic way to kickstart the day!
Cheryl Bernard
Closing out the conference we had Cheryl Bernard, the multi-talented and magnetic 2-time Olympian, Olympic Silver Medalist, and CEO of Canada’s Sports Hall of Fame as our final Keynote speaker.
She began with a personal story of her first impressions during the 2010 Winter Olympics, giving us all a unique insider’s view of what such an event is like, and showing a glimpse of the humanity and emotions that can surface. She shared her experiences of competing at a high level in curling despite not being a young athlete, illustrating the power of determination and a positive mindset.
Cheryl Bernard with her Olympic Silver Medal.
As Cheryl invited us in to relive these special moments with her, moments that most people in the world will never have a chance to see, many of us were surprised to draw common parallels within ourselves, recognizing the universal similarities such as strong teamwork, ever-changing age, and the importance of standing up for oneself.
Cheryl Bernard in action at Gen Blue Canada 2023.
Her following stories about the aftermath of the Olympics involving the intense emotions that come with such an event, the public and personal reaction to the results, and the outpouring of support and celebration all combined to highlight the deep power of teamwork, responsibility of choices, and what it means to believe in yourself.
There were a few tears and many laughs from the audience as we were drawn into Cheryl’s colourful storytelling, and more than one attendee expressed their surprise at the impact they felt from her openness and humility.
Afterwards, a line up formed to meet Cheryl, and she generously allowed everyone that wanted to try on her Olympic medal, take photos with her, and she then took the time to speak with anyone that wanted to. Her passion and presence left us all feeling emotional, inspired, and a bit more fearless, and we could not have asked for a better closing Keynote!
Real Estate Luxury in Nova Scotia “at a Fraction of the Price of Other Locations in Canada,” Says Coldwell Banker Maritime Realty
June 20, 2023
Here are two stories from the Nova Scotia luxury real estate market that give you a view of what less-than-you’ll-pay-elsewhere buys in a high-end home.
“Although prices are the highest they’ve ever been in our province, they are still cheap by comparison to most other areas in Canada,” said Chris Perkins, Broker/Owner of Coldwell Banker Maritime Realty.
“It remains appealing because people are able to cash in on high real estate prices where they live to relocate to Nova Scotia.”
Exhibit #1:
The Kutcher Residence, 11 Glencairn Lane, Herring Cove, NS
“I love the story of this home,” said Perkins.
When the homeowners were choosing where to build, they walked up a hill and through the trees to find a stunning view of the Atlantic Ocean—from an enormous granite boulder. They sat on the rock. They took it all in. “They would incorporate the boulder into the design of the property,” said Perkins. “This is where they would build their home.”
Not everyone shared their vision. A first architect suggested they simply blast the rock out and build something conventional. A second architect—the now world-renowned Bryan MacKay-Lyons—saw what they were seeing. The boulder would stay and be incorporated into the structure.
“The house now hovers atop the boulder, just as they dreamed it would,” said Perkins. “The result is a serene retreat with stunning views of the Atlantic Ocean and the supertankers and ships that pass by.”
Through COVID, especially, people were dreaming of space and privacy, Perkins said.
The listing: $1,979,900
The Kutcher Residence is 15 minutes from Halifax.
The design harmonizes with the natural surroundings. A roof made of standing-seam Galvalume metal folds down towards the forested northern side, while the southern facade is entirely glazed, providing unobstructed panoramic views.
Approaching the property, you are invited through a portal to a protected courtyard—a transition from the natural landscape to the sea. The residence follows the principles of Feng Shui, employing an indirect entry sequence that gradually immerses visitors in the architectural experience.
“They would incorporate the boulder into the design of the property,” said Perkins. “This is where they would build their home.”
The passive solar approach maximizes natural light and warmth through expansive glazing and hydronic heating in the concrete flooring. The open plan stretches across the main living, dining and kitchen areas, bookended by two large fireplaces that create balance and focal points for gathering. The curtain glass windows enhance the connection to the water, seamlessly merging the horizon line with the interior environment.
Luxury at a fraction of the price of other locations in Canada, Perkins said.
Exhibit #2:
The Penthouses at The Roy, 2303-1650 Granville Street, Halifax, NS
“No other building showcases sweeping, panoramic views of the Halifax Harbour from the 23rd floor,” said Perkins.
“We hosted our brokerage launch event in the suite and more than 75 people easily fit into the grand living area,” he said. “It was a really amazing evening, with everyone at one point standing on the enormous balcony, watching the boats in the harbour as the sun set over the city. It was magic.”
The soaring view of The Roy at 1650 Granville Street, Halifax.
The listing: $3,584,900
At 3259 square feet and with breathtaking, panoramic views of the harbour, Suite 2303 is the pinnacle offering in the building. The suite boasts a designer kitchen with pure white quartz counters, Calacatta marble backsplash and hand-crafted Gaggeneau appliances. The great room is awash with natural light courtesy of 10-foot, floor-to-ceiling windows, showcasing white oak hardwood floors and a natural gas fireplace.
“No other building showcases sweeping, panoramic views of the Halifax Harbour from the 23rd floor,” said Perkins.
The primary bedroom has a large, walk-in closet and luxurious ensuite bathroom with a floating tub and heated floors. Two guest bedrooms, two additional bathrooms and a media room complete the suite.
“In Nova Scotia, you are never more than 60 km from the ocean,” Perkins said.
The building has secure indoor parking above street level, a car elevator and offers 10,000 square feet of amenities, including an indoor pool, sauna and steam room as well as a fully equipped gym and yoga studio. Residents may book social events in the expansive party room or attend business meetings in the conference centre. There is a library, a billiards table and a movie theatre.
Interest in Nova Scotia luxury
Perkins said the average price of a home in Nova Scotia has risen by 64% since 2020, an increase felt across all segments of the market, including luxury properties.
“Through COVID, especially, people were dreaming of space and privacy,” Perkins said. “Demand surged for waterfront properties and homes with amenities like a pool or gym. Those desires still exist today.”
Luxury buyers are coming mostly from Ontario and Quebec. With significant funds available to a majority of them, interest rates have not played a big factor in their calculations.
The soaring view from the 23rd floor of The Roy at 1650 Granville Street, Halifax.
“A fraction of the price”
While migration from Ontario has slowed down recently, immigration has increased significantly, said Perkins, adding that Nova Scotia is a destination.
“Here you are never more than 60 kilometres from the ocean,” he said. “People here get to enjoy nature on their doorstep, whether that’s hiking, a sandy beach, a visit to a vineyard or excursions like whale watching in the Bay of Fundy.”
The Nova Scotia luxury market is buttressed by everything that makes Nova Scotia special “at a fraction of the price of other locations in Canada,” Perkins said.
Editor’s note: the pic below celebrates the foresight and skill of the decision to build on the rock at The Kutcher Residence. Coldwell Banker Maritime Realty Broker/Owner Chris Perkins is your contact for more info about either luxury listing.
To the Rescue! Coldwell Banker Canada’s Southwest Realty Gets Set for Dog Festival This weekend in Sarnia
June 14, 2023
Karley Chamberlain of Coldwell Banker Southwest Realty in Sarnia, Ont., has a big weekend coming up for some loveable clients looking to find forever homes.
The popular Dog Festival presented by the Coldwell Banker Homes for Dogs Project happens Saturday, June 17, at the Fox & Hound Canine Retreat.
Karley Chamberlain of Coldwell Banker Southwest Realty
“We’ll have a full Shelter Showcase with as many rescue dogs as we can at the time,” said Chamberlain, who serves as a Marketing Coordinator in the brokerage.
“We’ll have a designated person with them, walking around with them the whole day, taking care of them, and we’ll have big bandanas on them saying Adopt Me, and they’ll be on stage, too,” she said. “Hopefully, we’ll get all of those dogs adopted.”
Dogs like Benji.
Benji at home in Camlachie, Ont.
Benji finds his way home
Benji was adopted as a puppy by Steve and Kristin Persichetti through the festival a couple of years ago. They think he’s a collie-retriever mix. They know he’s a character.
“He’s part of the family and he’s got personality,” Steve laughed. “He doesn’t have much of that retriever energy, though. He’s a little bit to himself at times, but, when he wants attention, he’ll come and ask for it.”
Benji’s eyes are mesmerizing, Steve said.
“He’s got this look in his eyes, almost human-like,” he said. “He moves his eyes a lot. Most dogs, I think, look around with their heads, but he looks around with his eyes, and it just reminds me of a human the way he does it and the way you can see the whites of his eyes when he looks up or sideways at you.”
Benji was rescued from northern Ontario. His heritage still plays out clearly and joyfully in Kristin and Steve’s backyard in Camlachie—in winter.
“He loves the winter more than anything,” Steve said.
“We had a rink during Covid and he’d be running on the ice like it wasn’t ice—all day long. I was flooding the rink, he was jumping at the water, it was freezing on him, he just wanted to stay out there.”
“Dock diving is exactly what it sounds like,” Chamberlain said. “There’s a big dock and a big pool and the dogs will jump in and try to fetch the ball, or whatever it is. So fun!”
A festival of dogs
The fifth annual festival takes place on four hectares of pasture at the sprawling Fox & Hound Canine Retreat farm, 15 km northeast of Sarnia. Last year, 1,500 people showed up. This year, double that number are expected.
“It’s the biggest event of the year for our brokerage,” said Chamberlain.
“All my agents love to participate in this,” she said. “Everyone is volunteering. Everyone’s family is volunteering. Some of our clients come back to volunteer. It’s a really awesome way for our office to collaborate. I think it’s a true testament to what our office culture is—supporting each other and supporting the community.”
Fox & Hound Canine Retreat
Besides the opportunity to adopt a rescue dog from the Sarnia & District Humane Society in the Shelter Showcase, attendees are promised a day of fun and learning. There will be:
- dock diving demonstrations ($10 for three tries)
- a dog agility course (free)
- a lure coursing track ($5)
- an off-leash play area
- dog trick shows,
- food and vendors, and
- a face painter, bouncy castle, dunk tank, giveaways, a raffle table and more.
Dogs in the Shelter Showcase are strays, surrenders and others that are part of a northern Ontario collection initiative. This pic is from the event in 2021.
Since 2019, more than 200 dogs have been adopted and $146,000 raised. That money, earmarked for the humane society, is where the $10 adult entry fee goes. Children and dogs get in free.
Those who are serious about adopting a dog can expect to be interviewed by a humane society representative. Questions include, do you have other pets? Do you have a fence yard? Have you owned a pet before? Do you own another pet now? and so on.
“An overall bond is also what you look for when you see potential adopters interacting with the dog,” Chamberlain explained.
“For example, do they know how to handle that size of breed? Does the dog seem to like them or want to run away? Are they aware of the dog’s history and how to handle it if it was from an abusive home or not house trained?
Dog people
Chamberlain herself is a dog person who works for a real estate company unique in its ongoing commitment to finding homes for dogs.
“We’ve been helping people find their homes for 117 years, and this initiative extends that to dogs finding their homes, too,” Chamberlain said.
“You want to find a home for a rescue dog as much as you want to find a home for a person, just on a different level. People love dogs. It’s so easy to put your heart into something like that.”
Homes for Dogs started as an initiative of Coldwell Banker in the United States. It has been adopted by Coldwell Banker Canada, where affiliates have volunteered time, organized supply drives, raised and donated money, taken to social media and hosted and helped at local adoption events.
Summer Scott, VP, Marketing & Communications at Coldwell Banker Canada, with a friend at the event in 2022.
Summer Scott, Coldwell Banker Canada’s Vice-President, Marketing & Communications, has been personally involved with animal rescue for 13 years.
“In Canada, not only do we advocate for this cause because it’s embedded into our brand, but also because it is something we all truly care about,” Scott said.
“I feel extremely lucky that I work for a company that recognizes the importance of giving rescue dogs and other animals a second chance at their”—at which point Scott pauses for just a beat—“fur-ever home.”
Dog Festival presented by the Coldwell Banker Homes for Dogs Project, 2022.
Happy ever-afters
The event requires the combined heart, money and work of volunteers, animal rescue staff and sponsors.
“We get the same sponsors coming back year after year with more and more to offer,” said Chamberlain. “This year our title sponsor is one or our very own agent-run businesses called Cozy Up Stays.”
The event also means lots of meetings for the Coldwell Banker Southwest Realty team.
“With our committee at the brokerage, we meet every other week for about three months,” Chamberlain said. “We collaborate on how to make the event different and unique and memorable.”
So that there will be more stories like Benji.
“He’s happy to have us in the house, we’re happy to have him, he’s just a great companion,” said Steve Perischetti. “I come back to the eyes. You can understand him and understand what he’s thinking, and we’ve bonded.”
Steve thanked the program and its sponsors through the years. He thanked wife Kristin, too, for nudging him along the path to adopt Benji. The couple had just gotten a new house, they were doing renovations, and Steve said he wasn’t quite ready for a dog.
“Sometimes,” Steve said, “you just jump in.”
Since 2019, more than 200 dogs have been adopted and $146,000 raised through the Dog Festival presented by the Coldwell Banker Homes for Dogs Project.
Coldwell Banker Canada Maritime Realty – Powered by Chris & Joelle Perkins, Their Team and Dwayne the Dachshund – Opens in Halifax
June 13, 2023
Chris Perkins, the Broker/Owner of the new Coldwell Banker Maritime Realty brokerage in Halifax, N.S., is good with listings.
And, so, on the evening in June when he officially opened his new, rebranded office, it was a list—a list of people to thank—that he shared with his audience gathered at The Penthouses at the Roy (which, yes, is his listing).
Above all, he thanked wife Joelle Perkins. He paid tribute to his Coldwell Banker Canada mentor, too.
“Joelle and I moved to Halifax in 2018 and had a crazy idea to start a real estate brokerage,” Perkins said.
“We had worked at a Coldwell Banker office in Fort McMurray in Alberta. The culture in that office was different. It was led by my good friend and mentor, Colin Hartigan. We started our brokerage to create that same culture of collaboration, innovation and high customer service standards.”
Perkins told the story of his brokerage’s journey back to the Coldwell Banker brand by sharing the spotlight with the people who have been with him along the way.
Koree Burt
“Koree took a leap of faith with us five years ago before we even started our brokerage, working with Joelle and me as we established ourselves. She has tons of real estate knowledge and always takes excellent care of her clients.”
Adam Scott
“We met in coffee shops before we had an office. Adam has a background in radio and video production, the star of a podcast and our social media channels.”
Adam Wigmore
“Adam Wigmore was next. I convinced him to take the plunge, to leave the restaurant industry and to apply those same customer service traits to his real estate clients.”
The team at Coldwell Banker Maritime Realty
Zack Dawson
“Two years ago, Zack joined the team and brought his tenacity and drive to the brokerage. He would run through walls to look after his clients.”
Ian Henteleff
“Another restauranteur! Ian is someone who will go above and beyond for you, and you don’t even have to ask for it to happen.”
Sean Nykolyshyn
“Most recently, Sean joined the team and brings 15 years of experience to the brokerage, having sold in multiple markets.”
Alyssa Lynch
“I remember wondering how was I going to make Alyssa busy as office manager. Now, I don’t know what I would do without her, which I’m going to have to do because she’s expecting a baby. Congratulations, Alyssa!”
Stevie Perkins
“Stevie Perkins turns three years old in July. She’s already the boss of the household and will definitely take over the family business one day in the future. They are the brightest lights in my life and I see so much of my wife in my daughter. I am a very lucky man!”
Halifax via Fort McMurray via LEGO
Chris Perkins was born in Hastings, England. His family moved to Canada when he was 11 years of age.
“We landed in Edmonton and went to Fort McMurray on our way to Calgary, which, you’ll note, is the wrong direction,” he said. “My dad was offered a job within a day of being in Fort McMurray and we ended up staying for 17 years.”
He got into the business at age 18. His self-described “lowest point in my first year” came when he was showing a house to a young couple and their six-year-old son.
“The little boy looked up at me and said, ‘Do you even own a house?’ I didn’t. Even at six years old that little boy knew I was too young to own a house and too young to be selling real estate.”
The “you-look-too-young” perception started to stick. He’d be asked if his parents were home when he answered his front door. He was told he didn’t look old enough to sell LEGO. He decided to lean into it.
“I wrote a radio ad inspired by the LEGO comment,” Perkins said. “From then on, people knew me as the LEGO guy, and I developed my advertising from that base. Once I owned my perceived weakness, it, ironically, became something that set me apart.”
Love story
Perkins called his time in Fort McMurray “a fantastic decade.” He built his network and his learning at various conferences. He was recognized with the Coldwell Banker Canada Top 30 Under 30 Award. He spoke about the LEGO story on stage at Coldwell Banker’s Gen Blue conference in Las Vegas.
“Lots of great memories,” he said.
In 2016, Joelle and Chris got married on a trip to Halifax, making their vows at the historic downtown Prince George Hotel in the city they had fallen in love with. In 2018, they moved to Halifax for good and opened their brokerage.
Welcome, Dwayne!
Dwayne!
And they welcomed Dwayne to the family.
“Joelle always dreamed of having a dachshund named Dwayne, so I had to make sure that dream came true,” said Perkins, who found Dwayne at the Long Long Ranch in Hantsport, N.S.
The couple was optimistic that Dwayne would be an office dog, but he’s a little intense. “We still love him, though,” said Perkins. “He has a personality that is disproportionate to the size of his legs.”
Back to Coldwell Banker Canada
Perkins said he and Joelle have spent the last five years honing their processes, refining their marketing strategies and building a tailored, boutique real estate service for their clients.
“We’ve become experts in our market, providing valuable information to people so they can make informed real estate decisions,” he said. “I’m happy to say that none of that is changing. However, Halifax and Nova Scotia are changing.
Last year, Halifax grew by 4.4%, with 20,713 more people. Only Moncton, N.B., at 5.3%, grew faster.
“Our province has been thrust onto the global stage and is developing at a rapid rate,” said Perkins. “We need to change with it.”
In this case, change meant a return to Coldwell Banker Canada.
Chris and Joelle Perkins outside of Coldwell Banker Maritime Realty
“Joelle and I worked with Coldwell Banker for 10 years before moving to Nova Scotia—we bleed blue,” he said.
Maritime Realty joins Mariana Cowan’s Supercity Realty as Coldwell Banker brokerages serving Halifax and area.
Of importance to Perkins was being back with a real estate company with more than a century of history and with offices around the world.
“Locally owned and operated brokerages with local expert knowledge with access to a global network,” he said.
Locally, Perkins’s goal is to have experts across the province.
“This means I’m not driving to a place that I’ve never heard of to sell a house,” he said. “It means we will have local experts that fully understand the market in their area.”
Nationally, customers moving to or from another province can use Maritime Realty to plug into Coldwell Banker Canada expertise across the country.
Internationally, listed homes get the widest exposure to maximize value.
Welcome home
Joelle, Dwayne and Chris at home in Halifax.
Colin Hartigan, Broker/Owner of Coldwell Banker Fort McMurray, welcomed Chris and Joelle back to the network.
“This is where it all started, so, welcome back home,” said Hartigan. “Chris and Joelle deliver an exceptional customer experience. With Coldwell Banker love and support, we look forward to being on this journey with you.”
Kim Carmichael, who is a VP-Franchise Development for Coldwell Banker Canada, underlined Perkins’s commitment to those around him.
“Maritime Realty is dedicated to building a strong team sustained by a culture of support, learning and growth,” Carmichael said. “The team of expert agents is dedicated to a personalized service and an individualized experience.”
A measure of thanks
A brokerage is only as good as the culture of the group, Perkins said.
“I’ve worked in a handful of different brokerages and the leadership makes a massive difference to the experience of everyone on the team. Collaboration and positivity create an environment where you want to come to work, while celebrating one another’s success. When individuals succeed, the brokerage will, as well.”
Editor’s note: the pic at the top of the post shows Chris Perkins, Broker/Owner, and Joelle Perkins, Compliance Manager, in front of Coldwell Banker Maritime Realty in Halifax.
One final picture of Dwayne. We couldn’t resist!
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Coldwell Banker Canada Experts Share Perspectives on Interest Rate Hike Aimed at “Stubbornly High” Inflation
June 7, 2023
The Bank of Canada has increased its key interest rate to 4.75%—a jump of 25 basis points—putting an end to a short string of rate hike pauses.
“Globally, consumer price inflation is coming down, largely reflecting lower energy prices compared to a year ago, but underlying inflation remains stubbornly high,” the central bank said in a statement issued on June 7, 2023.
“While economic growth around the world is softening in the face of higher interest rates, major central banks are signalling that interest rates may have to rise further to restore price stability.”
The Bank of Canada’s decision ended the “conditional pause” on rate hikes in place since March, which followed eight consecutive increases that had upped the central bank’s policy rate to 4.5% from the 0.25% rates experienced through much of the pandemic.
The announcement was keenly anticipated and quickly analyzed for meaning across Coldwell Banker Canada’s national real estate network.
“Not surprising”
Peter Kritz, Broker of Record at Coldwell Banker Peter Benninger Realty in Kitchener-Waterloo, Ont., said the news was not unexpected.
“The two red flags that I saw made the announcement not surprising,” said Kritz.
Those two red flags were stronger-than-expected GDP growth of
3.1% in the Canadian economy in the first quarter of 2023, along with a higher-than-expected uptick in inflation to 4.4% in April, he explained.
The Consumer Price index rose from 4.3% in March, the first increase in 10 months.
“There is still a demand for housing in Canada, especially in Ontario,” said Kritz. “People will still be able to sell their homes, but, perhaps, not for as much as earlier this year.”
Kritz did some quick math to illustrate his point.
“For someone who took out a $650,000 mortgage with 5% to 10% down, the price of the house, if it’s in Kitchener-Waterloo, would have to be $15,000 less to keep the same payment as yesterday,” he said.
Everybody affected
Just about everybody—purchasers, people who are renewing, particularly those consumers who had short-term, fixed rates and those in variable rate mortgages—will feel the impact of the Bank of Canada’s interest rate hike.
That’s the view of Shaun Westlake, VP of Sales with Guiding Star Mortgage Group, which is affiliated with Coldwell Banker Canada.
“The unfortunate reality is that we continue to have a shortage of supply, so prices will likely be stable or even continue to climb making affordability that much more challenging,” said Westlake, who is based in Hamilton, Ont.
“Those with short-term fixed rates are going to feel the squeeze on their monthly costs once their mortgages come due for renewal, and those in a variable mortgage, well, their pain will continue.”
Westlake believes that many variable rate holders who have been trying to weather the rate uncertainty might now look at locking their rates in to confirm their monthly costs.
“Potential purchasers will likely be thinking short-term, fixed rates, though I would strongly encourage them to have their mortgage agent do a full comparison scenario looking at both a short-term and a more traditional five-year term to see which really would be the most beneficial to them,” he said.
Westlake added he was not surprised, but “somewhat disappointed” by news of the rate hike.
“I think the Bank of Canada is trying to show they are committed to their policy, but at what cost to Canadians?” he said. “While the economy has shown some modest signs of growth, my bigger concern is mid-term impact of the rate hike on the average Canadian.”
“It hurts buyers”
Mariana Cowan, who is the President/Owner of Coldwell Banker Supercity Realty in Halifax, N.S., said the rate hike was “disappointing,” adding that it “hurts buyers.”
Rising interest rates decrease the buying power of those looking for homes, said Cowan, reducing some to lower-priced segments of the market and removing others from the market entirely.
“Ultimately, we still don’t have the needed housing supply on the market,” Cowan said. “People who can afford it are still going to purchase instead of renting at high rents, but it’s tough on many looking to buy, especially those who are just getting into the market.”
Last year, Halifax was the second-fastest growing urban region in Canada, a trend Cowan says will continue.
“With Halifax and Nova Scotia being a great place to live for many reasons, I think we are still going to see continued growth and demand here for housing,” Cowan said.
“Until we have more housing, I think there will be upward pressure on housing prices—people need a place to live,” says Cowan. “We are starting to see more arrangements of families, friends, living together for this reason.”
Cowan explained that less disposable income for people means they will have to make more conscious decisions with their budgets.
“For those who take a wait-and-see approach—for if and when interest rates drop—they could be competing with everyone else doing the same thing, which could drive prices up at that time.”
Coming to terms with rate hikes?
Ryan Lefebvre, Broker at Coldwell Banker Lifestyle in Cold Lake, AB., said he felt that some consumers are coming to terms with the new borrowing levels now that it has been over a year since the rate hikes started.
“We will see if this new increase will significantly affect the Government of Canada Bond Yields and increase fixed rates, but, in my opinion, most people are electing to go with a shorter-term mortgage in the hope that rates will come down in the next 24 months,” Lefebvre said. “I expect this to continue.”
Lefebvre predicted the central bank’s rate hike will continue to put pressure on an already tight rental market.
“Some people may choose to wait to purchase a home and those homeowners and investors renewing mortgages will be passing that additional borrowing cost onto the tenants.”
“An extra burden”
Jay Hundal, the Broker/Owner of Coldwell Banker Universe Realty in Surrey, B.C., said he had expected a jump of 25 basis points in the Bank of Canada interest rate, but thought it might come later in the summer or the year.
“This is an extra burden on people who really want to buy but cannot enter the market,” said Hundal. “Costs are going up, wages aren’t going up, but people still need a place to live.
“We hope the interest rate hike will stay now where it is and not go any higher.”
Closing thought: where would you like to live?
Coldwell Banker Canada’s Peter Kritz said he is increasingly intrigued by the possibility, for those in position to capitalize on it, of home ownership in a time of interest rate uncertainty and remote work.
That’s why he routinely asks about internet connectivity in smaller markets near Kitchener-Waterloo.
“Some people might now look to move to communities where the average price is less, but the internet connectivity is good,” he said. “In small town Ontario, fibre connections are being installed and if you are able to work from home, you’ll be able to currently buy for less. There are trade-offs, but it is a real question: where would you like to live?”
The Bank of Canada is scheduled to make its next interest rate decision on Wednesday, July 12, 2023.
Gen Blue Canada Celebrates Coldwell Banker Canada Milestones
Coldwell Banker Canada has again handed out the hardware to its longest-serving broker owners who have spent decades building trust and protecting the integrity of the brand for home buyers and sellers.
Rob Goodings, Coldwell Banker Canada’s Director of Learning & Administration, read out of roll call of honour.
“It’s such a privilege and pleasure to be part of recognizing our milestone-award-winning brokerages,” Goodings said.
“We’re so proud that these amazing companies, run by exceptional individuals, have chosen to call Coldwell Banker Canada their home.”
The milestones moment happened on May 31, 2023, at Gen Blue in Vancouver, the annual conference that brings together brokers, owners, agents and staff.
The Coldwell Banker Canada spotlight shone on:
30 years
William Nelson, Coldwell Banker WIN Realty, Mount Forest, ON.
(Nelson is also the recipient of Coldwell Banker Canada’s Canadian Ambassador Award in 2023.)
Bill Nelson, 30-year Coldwell Banker Canada service award recipient and Canadian Ambassador Award winner.
20 years
Ron Hunter, Coldwell Banker Canada Community Professionals Realty, Greater Hamilton and Burlington, ON.
Ron Hunter, right, with Coldwell Banker Canada CEO Karim Kennedy.
Owen Crampsie, Coldwell Banker Canada Essential Realty, Windsor, ON.
Owen Crampsie, right, accepts 20-year service award at Gen Blue Canada conference, with CEO Karim Kennedy.
15 years
Marjan Mazaheri, Coldwell Banker Canada Prestige Realty, Vancouver, BC.
10 years
Marc Ronan, Coldwell Banker Canada Ronan Realty, Tottenham, ON.
Marc Ronan, right, honoured with 10-year service award by Coldwell Banker Canada CEO Karim Kennedy.
Coldwell Banker Canada honoured its long-service broker-owners at Gen Blue in Vancouver, BC.
More honorees
Other broker-owners not able to attend Gen Blue were also recognized for their ongoing service.
30 years
Kevin Acuri, Tad Lake, Coldwell Banker Canada Rosling Realty, Nelson, BC.
Brad Gilbert, Coldwell Banker Canada City Side Realty, Lloydminster, AB.
Marise Desjardins, Coldwell Banker Canada Dynamic Realty, Saint Andre, NB
25 years
Chris Morash, Coldwell Banker Canada Performance Realty, Amherst, NS.
10 years
Drew Johnson, Coldwell Banker Canada Power Realty, London, ON.
Tom Flatt, Coldwell Banker Canada Flatt Realty, Hagersville, ON
Suzanne Clark, Coldwell Banker Canada Fieldstone Realty, Georgetown, ON.
Calgary Among Real Estate Markets in Canada to Buck Trend in Sale Price Dip, Latest Crea Numbers Reveal
The national average sale price of a home in Canada posted a 3.9% year-over-year decline in April, according to recent statistics from the Canadian Real Estate Association (CREA).
Every major Canadian city—except one—was part of this decline.
“It doesn’t surprise me at all that it’s Calgary,” said Rob Vanovermeire, Owner/Broker of Coldwell Banker Mountain Central in Calgary.
Yes, it’s Calgary that bucked the trend among Canada’s most populated centres.
According to CREA statistics, the MLS® Home Price Index benchmark price was $538,200 in April 2023 in Calgary, up 1.3% from $531,100 in April 2022. Other major Canadian cities, including Toronto, Montréal, Ottawa, Vancouver, and Edmonton, all posted declines over the same period.
The report also found that national home sales increased 11.3% month-over-month in April. The number of newly listed moved up 1.6% month-over-month but remain at a low not seen for two decades.
“An interesting situation here”
Vanovermeire said the Calgary market is hot for apartments, condos and townhouses in the $250,000 – $450,000 price range.
“That hasn’t really brought up the benchmark price, but if you look at the product itself, it’s up considerably,” he said.
This is thanks to a strong economy and immigration from within Canada, eastern Europe, and Africa.
“There are a lot of people coming from Ontario, still, to this day,” Vanovermeire said. “We’re seeing a tremendous influx of Ukrainians and a large population of people coming from
Africa, especially Nigeria. Immigration that we have rarely seen in history is happening in Calgary right now.”
The newcomers aren’t buying houses right away. Many are renting to start, putting downward pressure on the rental vacancy rate. According to the Canadian Mortgage and Housing Corporation, Calgary’s rental vacancy rate dropped to 2.7% last year—the lowest since 2014.
Rental rates and home ownership
Rental rates have spiked. According to Rentals.ca, the average rent of a two-bedroom home in Calgary in April of 2023 was $2,011. That’s a 21% jump compared to the same time in 2022. In some cases, prospective renters aren’t even waiting for a rent increase notice at renewal. They’re making the first move.
“I have a property coming up for rent in June, I’ve already got people willing to give me $800 more for it,” said Vanovermeire, adding that that isn’t happening everywhere in Calgary, but it is happening.
The dynamic rental market is making the math of home ownership more logical, Vanovermeire added. “It’s the moment that you take a look at your monthly payments, and, even with the higher interest rates, owning starts to make more sense than renting. In many cases it’s the same amount or even a little cheaper to own than to rent.”
National picture
While Calgary was the only major Canadian city by population to post a year-over-year increase in average sale price, April to April, in the CREA study, it shared the distinction with other provincial and territorial centres across the country, including in:
- Alberta (Alberta West, South Central Alberta),
- Saskatchewan (Saskatoon, Southeast Saskatchewan, Swift Current, Yorkton),
- Manitoba (Brandon),
- Ontario (Cornwall and District),
- Québec (Central Québec, Estrie, Mauricie, Saguenay, Trois-Rivières),
- Nova Scotia (Cape Breton, Highland),
- Prince Edward Island,
- Newfoundland & Labrador (St. John’s), and
- Northwest Territories
To be continued…
Vanovermeire said, like other provinces, Alberta has its own cycle.
“I’ve been in Alberta for most of my life and in the real estate business for 23 years,” he said. “One thing I’ve learned is we don’t necessarily follow the pattern of Canada. But Alberta is in the early cycle right now, and these cycles in Alberta typically go four to seven years.”
Editor’s notes: find more from Coldwell Banker Mountain Central’s Rob Vanovermeire on YouTube. Find more CREA analysis here.
