Ottawa Real Estate Agent Wins Prestigious North American Business Award

Ottawa Real Estate Agent Wins

Prestigious North American Business Award

TORONTO – [Aug 19/14] – Marnie Bennett, a Broker of Bennett Property Shop Realty, Ottawa, Ontario, was awarded the prestigious “Daniel Passante Entrepreneurship Award” in a ceremony at the Toronto Hilton on Saturday, August 16 by Craig Proctor Coaching International.

ABOUT THE WINNER

An admitted workaholic, Bennett was #1 for Keller Williams International in 2010 (besting more than 80,000 other Keller Williams’ sales reps worldwide), before starting her own boutique agency in 2012; and has consistently ranked in the top one per cent of salespeople in North America for the last several years. She has a bachelor’s degree in law and economics, and even back in 1981, in her first year of real estate, she was one of the top agents in Canada.

While Bennett’s drive took her far on her own, her real estate business more than doubled when she aligned herself with Craig Proctor Coaching. “I went to my very first Craig Proctor Super Conference in Los Angeles in May 2010,” said Bennett. “At that time, I was on target to be the #1 Agent for Keller Williams International - but if the truth be known, I was mainly using - but was far less than happy with - the “old school” real estate systems that just didn’t fill our brokerage’s unique needs. But I had done a lot of research into methods and systems that were being used by large and successful brokerages and discovered that the common denominator of the most successful agents in my market place was that they were all Craig Proctor students.”

Over the last four years, by gradually implementing and integrating Proctor’s Quantum Leap Real Estate Success System with some of her brokerage’s existing systems, and ultimately after joining Proctor’s elite Titanium Coaching group, Bennett rapidly grew her business doubling her sales after opening her own boutique brokerage in a beautiful heritage office building in downtown Ottawa. “We now have 40 people on our team; and in one of the toughest markets that I have ever experienced, we have grown our resale numbers by 58% over last year,” said Bennett.

“If Marnie doesn’t inspire you,” said Proctor, “you’re tough to impress. We selected Marnie as the recipient of the Daniel Passante Entrepreneurship Award from among the brightest and best real estate agents from across North America because she exemplified the same huge energy, intelligence, entrepreneurial spirit, and dogged perseverance of the superb agent after whom the award was named.”

“I was completely taken by surprise and am thrilled and honoured to receive such a prestigious award and for being recognised for all my hard work and dedication. For the last 33 years, my goal has always been to offer the highest quality professional real estate services and to build the best real estate brokerage which provides my clients with what we call “5-Star Service” and I appreciate receiving this award as it shows that my colleagues recognize how successful we have been in taking care of our clients’ needs,” said a grateful Marnie Bennett.

ABOUT THE AWARD

The Daniel Passante Entrepreneurship Award was created in May 2012 in memory of an exceptional business leader and an inspiring Craig Proctor coach, Daniel Passante, who tragically passed away on March 25, 2012. The award is presented annually to the most innovative, inspiring, and successful team leader. Past winners include Realtors Len Wong in 2012 and Rick Brash in 2013.

Craig Proctor Coaching is an International Real Estate Success Coaching organization that has shaped the lives of over 30,000 Real Estate Agents across the globe. Founder and CEO Craig Proctor designed the Quantum Leap Real Estate Success System that underpins his coaching programs for his own highly successful real estate business, only recently devoting 100% of his time to coaching other agents worldwide. While an active agent (not a broker), Proctor consistently sold over 500 homes a year for annual GCI of almost $4 Million. He was twice named the #1 agent in the world for RE/MAX®, and was one of the top RE/MAX® agents in the country for 15 years. As a Real Estate Trainer, Proctor has coached more agents to Millionaire status than any other trainer. For more information, visit www.ProctorRealEstateProgram.com 

ABOUT THE BENNETT PROPERTY SHOP REALTY, BROKERAGE

The Bennett Property Shop Realty is a one-of-a-kind international boutique brokerage in Ottawa, Canada whose business philosophy is based on exceptional personal service, leadership and industry-leading and innovative policies and practices. Bennett is an award-winning marketer and has become one of Canada’s most highly-regarded Real Estate marketing and sales consultants and strategists because her company provides a full scope of integrated services that are customized to produce the highest possible degree of success for each client. With a team of 25 elite sales representatives who routinely go above and beyond the call of duty, the Bennett Professionals have built a steadfast reputation for excellence in the nation’s capital where their clientele includes Ottawa’s buyers and sellers, countless investors (including Ottawans buying outside of Ottawa and foreign nationals investing in Ottawa properties), as well as local and international developers. Turning this business into a one-stop-real-estate-shop has proven to be no small feat for the Bennett team, but a challenge which Marnie Bennett and her team enthusiastically take on. With over 9,000 sales, and $3.1 billion in real estate sales, the Bennett Property Shop hands down is the number one choice among discriminating home sellers and buyers and real estate developers.

MORE ABOUT MARNIE BENNETT

Marnie Bennett is one of the capital’s most prominent businesswomen, entrepreneurs and media personalities. Marnie’s personal life experiences have given her the ability to address women with insight, empathy and compassion, along with her trademark frankness.

From the beginning of her real estate career, Marnie’s sales numbers were among the highest in Canada – which results confirmed that this was the right fit for her particular gifts.

Recognizing that there was an ignored by critically-important niche to fill in the Ottawa housing market, Marnie began her own boutique marketing and realty firm in 1994 – a company that rapidly became a “one-stop shop” for numerous local real estate developers, builders, property managers and investors. Her passion for encouraging women has found expression as she coaches her team members to develop and expand their talents, and as she mentors private clients to take control of their financial futures. But most rewardingly, she’s watched confidence levels steadily rise among clients who have taken part in her “Women on Wealth” (WOW) workshops, learning skills that help them to make the most of their hard-won earnings.

On the media front, unhappy with the “boys’ club” attitude of the local real estate radio show, Marnie began the first of two radio shows. In the first, Marnie offers real-world, practical and inspiring information and advice that is easily understood to a broad range (by both age and financial savvy) to listeners from different walks of life. In the second show, Marnie interviewed various local entrepreneurs to elicit their secrets for success and to inspire other would-be entrepreneurs “to get their ideas in motion”.

She’s also a frequent columnist in local newspapers and magazines, offering fresh, down-to-earth advice that often specifically addresses women home buyers at various stages of life.

In 2008, Marnie was named Ottawa’s Businesswoman of the Year.

In 2010 Marnie was named #1 Realtor Worldwide with Keller Williams Realty International distinguishing herself among 93,000 other sales representatives.

In February 2012, Marnie and her family opened a boutique real estate brokerage in downtown Ottawa - just steps away from Parliament Hill – The Bennett Property Shop.

The Bennett Property Shop is a unique real estate firm that provides their clients with “white glove 5-Star service” and meticulous attention to detail.

For further information, photographs or to set up an interview with Marnie Bennett, please contact:

Jo-Anne Suitor

613-670-0164

jo-anne@bennettpros.com
www.bennettpros.com
www.facebook.com/BennettRealEstatePros
Twitter: @BennettPros

New vs. Used - The Difference is in the System

The first question you will ask yourself when you decide to buy a home is if you should buy a new house or an older one? When you are looking through Ottawa real estate properties, you are bound to get confused. One thought that you may think is that older homes are built better than newer ones. On the other hand, there are also many reasons that may incline you towards choosing a new home over an old one.

Better Built

One thing you should know is that new technology has helped improve the construction process as well as the building material used during construction. Canadian Building Standards have improved drastically over the years. Most new townhouses and detached houses include at least two full bathrooms on the upper storey and a powder room off the entrance hall. Improved kitchen standards and laundry areas have also made the new homes more convenient and acceptable.

The concept of central air-conditioning was not available for condos in the 1970s. Now, however, this has changed. Also, a home office is another essential room that is now available in many new homes that wasn’t available a few years back.

Less Maintenance Required

A new home won’t require much maintenance for at least the first 10 to 15 years. This is usually because the building material used is more advanced and long lasting. The presently used vinyl-clad window frames don’t require frequent repairs unlike older wooden frames. Nor do you have to worry about roof repairs with every change in weather. If you buy an old home, you will be worried about aluminum wiring and steel or lead plumbing. The brick front also adds to the durability of the new home.

Energy Efficient

Insulation standards have improved in all new homes and the furnaces installed are more energy efficient nowadays. Since 1993, basement insulation has become a common practice and the minimum ceiling heights have also been increased. The flimsy windows have been replaced with double-glazed casement windows that help keep the cold drafts out and the warmth trapped in. The new Energy Star Program has helped bring down monthly energy costs for home owners.

Tarion Warranty

This new warranty has provided an added protection for new home buyers. It helps with all repairs and corrections that are required during the initial years of the home.

All homes in Ottawa are required to meet safety standards and smoke detectors are to be wired in with the updated electric systems. Older homes will have to replace aluminum wiring, if it has not already been done by the previous home owner.

Amenities

The newer communities in Ottawa are designed to make sure that parks and playgrounds are within walking distance. Different environmental factors have also been considered during the planning of these communities. There are some builders who specialize in creating small communities where children can grow up without worry.

Even with all these advantages, you will still have to cater to the one most important fact before you buy a house – Location. You will find that most of the best locations in Ottawa already have communities built and the houses that are available are all resale. Therefore, check with your Ottawa real estate agent and find the best house for your family.

Visit www.bennettpros.com for all your real estate needs.

Mortgage FAQs

Once you find your dream home in Ottawa you will need to look at your different mortgage solutions

Mortgage solutions are provided by many bankers and mortgage brokers in Ottawa and other cities in Canada. Though there are many things you have to consider about mortgage payments, there are a few questions that are frequently asked by Canadians who are looking for a good mortgage plan and payment solution.

Why hire a mortgage broker when the Bank is there?

When you deal with a bank for the mortgage solution, you are bound by the list of products they have. It is possible that the list does not have the best solution for you. Also, banks have to think about their profit margin and will offer you the highest rate that is acceptable to you. A mortgage consultant on the other hand will have a list of lenders and mortgage products. You could potentially benefit from lower interest rates. However, if you are buying a new home or condo that is not built and you require a pre-approval letter, you must go through a bank, because a mortgage broker cannot guarantee the rate for long enough.

What fee charges are involved?

Typically there is no fee. The lenders who receive your mortgage application hand a certain amount of commission to mortgage consultants. If your application is not accepted because of job instability or bad credit, you are subjected to brokerage fee.

Do I have to wait for my mortgage to mature?

It is not a good idea to wait for that long. You should inform your mortgage consultant around 4 months before the time of maturity of your mortgage. During this time, the consultant can easily shop for other mortgage rates and your mortgage will be easily transferred if there is a possibility.

I recently heard of Mortgage Loan Insurance. What is it?

Mortgage loan insurance is required by law and is provided by three major companies in Canada: AIG Insurance, Genworth Financial Canada and Canada Mortgage and Housing Corporation (CMHC). Do not confuse this with mortgage life insurance. Here the lenders are ensured against default on mortgages with an 80% ratio of loan to value. Borrowers pay insurance premium between 0.5% and 3.7% which is directly added to the mortgage account.

What is a high-ratio mortgage and how is it different from conventional mortgage?

Conventional mortgage is the typical mortgage where the down payment is equal to 20% or more of the property’s purchase price and there is no mortgage insurance required for it.

High-ratio mortgages are where the down payment is less than 20% of the purchase price. You are required to attain mortgage loan insurance from one of the three companies that provide insurance. The borrower is allowed to purchase the house with a small amount of down payment and the lender is also protected with the loan insurance.

What form of down payment is acceptable?

If you have cash, then it is good. If, however, you do not have cash, you can use:

•             Accumulated savings

•             Sales proceeds that you gain from an existing house

•             Your Registered Retirement Savings Plans (RRSP). Up to $20,000 can be used for down payment and if it is repaid within 15 years it will not be subjected to income tax.

•             Investments that are not registered

•             Borrowings from an unsecured Line of Credit.

For more information contact your local real estate agent inOttawa today.

Visit www.bennettpros.com for all your real estate needs.

Mortgage Your Own Property - A Different Kind of RRSP Investment

Kody Wilson, CPA, CA

Have you ever considered the possibility of lending yourself money in the form of a mortgage on a property you own? Say you were purchasing a house for $400,000 and you had $150,000 to put down on the property. You would still need to borrow $250,000 from somewhere, traditionally a bank, to pay the rest.

What if you had enough money invested in your Registered Retirement Savings Plan (RRSP) to cover the remaining cost? Legally, an RRSP cannot own a piece of real estate; however, an RRSP can lend money, in the form of a mortgage, for a piece of property.

It just happens that a lot of people are not aware of this option.

The only caveat is you will need to have a self-directed RRSP, which means you are responsible for all of the investments that take place within the account. Alternatively, you could hold a self-directed RRSP for the mortgage investment and a traditional RRSP for other investments.

You will want to discuss this option with your financial advisor.

There are strict guidelines you must follow if you decide to go this route. For instance:

• The mortgage must be administered by an approved lender (not all banks will do this);
• The interest rate must be in line with the standard rates at the time; and
• The mortgage has to be insured by Canada Mortgage and Housing Corporation.

If this just sounds exactly like a regular mortgage, you are right. It is set up like any mortgage from a financial institution would be, with the exception of the fact you make the payments to yourself (through your RRSP) and you get to keep the interest.

As with any financial decisions, there are pros and cons.

Some of the pros include:

• You keep all the interest;
• Protection from rising rates;
• Guaranteed investment return; and
• Interest and principal payments don’t count as RRSP contributions.

Some of the cons include:

• The fees associated with taking out a mortgage against your RRSP;
• The large RRSP holdings requirement; and
• The risk of losing out on other RRSP investment opportunities which may provide a better return over the course of the mortgage period.

There is no question it was more beneficial to hold a mortgage when the interest rates were higher than today. However, it can still be a useful tool if you are taking out a large mortgage or worry about rising rates.

Taxpayers may also wish to provide an RRSP loan to an unrelated third party, as opposed to loaning themselves the money. This option has different risks and restrictions that should be considered prior to implementation.

Speak with your advisor to discuss the advantages and disadvantages of RRSP mortgages as they pertain to your specific situation.

Kody is a supervisor at Westboro accounting firm GGFL. You can follow the firm on Twitter @GGFLCA and visit them online at www.ggfl.ca.

For all your real estate needs visit www.bennettpros.com

Getting Territorial: Should you be looking for a “neighbourhood specialist”?

What really matters when choosing an Ottawa real estate agent? Depth of experience, certainly. Track record, naturally. Professionalism, definitely.

Emotions play into the decision, too: good personal rapport between you and your agent generally translates to a better all-over experience.

But there’s one factor that shouldn’t carry as much weight as it often does. More and more, I’m seeing agents promote themselves as “neighbourhood experts”, suggesting that they have the inside scoop on a given part of the city because it’s their home turf.

I can hear you thinking: “But I’m looking to move to Awesometown! Why wouldn’t I want to hook up with an agent who’s lived in Awesometown for fifteen years?”

Well, if that agent happens to check all the other boxes, by all means. But what exactly is it that a self-appointed “neighbourhood specialist” can offer you?

A good agent, regardless of where they live, will use all possible resources to research the heck out of a neighbourhood. A good agent will understand the trajectory of a neighbourhood: where it’s been and where it’s headed. A good agent will lay the groundwork with the numbers – finding “comparables”, as well as statistics on local schools, demographics and taxes – and build out from there.

True, “neighbourhood experts” may know which diner has the best coffee. But, more to the point, are they able to be objective about market values of homes to which they have an emotional connection? Are they able to steer clients towards alternative, promising neighbourhoods if the numbers just aren’t coming together? On occasion, small playing fields lead to tunnel vision.

Consider this: suppose an agent does possess “insider knowledge” about a certain school, street or neighbour. If that knowledge would discourage a purchase, will it necessarily make it to your ear?

Realistically, all real estate agents have zones where their business is concentrated. However, as a realtor based in downtown Ottawa, I’ve helped clients find and sell properties throughout the region, and far beyond the city limits. I do my homework and we’re off, taking my expertise along with me.

The takeaway? Any agent worth her salt can help get you the right house in the right part of town. There’s no need to run screaming from those who claim to be neighbourhood experts; just stay clear-eyed, and don’t give that claim more weight than it deserves.

Visit www.bennettpros.com for all your real estate needs!

Start with Your Closet

Guest Blogger - Dean Large, D.I.D. - Astro Design Centre

You’re sitting at your computer, looking at image after image and nothing is catching your eye. One minute you think you’ve nailed it down, but then something else seems better. Finally you just give up and put it off for another year…

Tackling a renovation to your home is a major commitment; you’re deciding to invest tens of thousands of dollars into your dream home. You want to make sure that the decisions you make are the right ones, that they will be both profitable and pleasurable. Instead of going in blind and diving in too deep, here are a few tips that will make the process that much less daunting.

Assess Your Style

                Start with your closet, look at the colours and textures you decide to cover yourself with each and every day. The way you choose to represent yourself to the world is a major hint as to what you are most comfortable with. If you notice that each day you are putting on a strict, tailored uniform of dark denim, a white shirt and a black blazer, it is safe to say that you’re not going to be at one with a room that is frivolous, colourful and whimsical.

Something similar to this contemporary bathroom could be appealing to the persona mentioned above.  It is functional, yet classic and sleek, which in most cases fits their style.

 Consider how you plan to use the space. A family of 5 in a kitchen full of fragile materials such as marble would be a terrible pairing. 

Do not forget to use online resources like Houzz and Pinterest. These are fantastic fountains of ideas, not to mention free. You can enter in the most out of the box concept and something will come up to assist you with your vision.  Once you’ve developed a concept of what you would like, it is time to meet with the professional.

Style Guide

                Working with a designer is a phenomenal way to ensure that you will get a well thought out space that is as functional as it is beautiful. Sometimes the dream of a big prep-island just isn’t feasible given the space, but a designer can help you determine that. It is best to seek out the experts in each field of home renovations. Any of the five designers at Astro Design Centre can help you with this, as they have years of experience working in the kitchen and bath industry. Your designer can help you realize what is feasible with your space, your budget, and your wish list.

                A renovation can be a frightening task, but it needn’t be. Simply step back and evaluate what is a priority. Consider your style, and how you live. Make sure to contact an experienced professional. And most importantly keep in mind that the end result will be worth it!


Here's a great video featuring Dean Large - Trends in Kitchen Design

For all your design needs visit www.astrodesigncentre.com or CLICK HERE TO BOOK YOUR FREE Design Consultation
Don't forget to visit www.bennettpros.com for all your real estate needs.

 

Family Day in Ottawa

With Family Day coming up on Monday February 17th 2014, Ottawa is a hot spot for events! Here is a list of great activities for you and your family to enjoy during this holiday!

1. The final day of Winterlude 2014! You can see a full schedule of the day's events HERE  
       
2. Skate with Mayor Jim Watson at the Rink of Dreams (City Hall) on Monday from 11am - 2pm. And if that doesn't interest you, maybe the free hot chocolate and music will!  
       
3. Some Ottawa museums are open for Family Day including: Canadian Museum of History, National Gallery of Canada, Canadian Aviation & Space Museum,  Canadian War Museum and Canada Science and Technology Museum. Some are even offering free admission for Family Day
   
   
4. The public is invited to celebrate the 4th Annual English Theatre Family Day in the NAC lobby.  Presented by Boston Pizza, this special event features a cornucopia of hands-on activities for children and the people who love them! Join us for a memorable day of stories, songs, games, interactive displays, and special workshops throughout the NAC.
    
5. The final day of "Chill Factor" presented by the Downtown Rideau - a "cool" collection of high fashion, cuisine and culture that takes the edge off winter.    
    
6. For the adults, a number of cozy bars and restaurants on Elgin and in the Byward Market will be open for business throughout the day

IMPORTANT THINGS TO REMEMBER most major shopping centres are closed Monday with the exception of the Rideau Centre which is open from 10am to 6pm. Stores in the Byward Market are also be open for business. Most grocery stores are closed Monday (Loblaws on Rideau is open 9am-6pm), with the Beer Stores and LCBOs closed as well.

 

Have a safe and enjoyable long weekend!

For all your real estate needs visit www.bennettpros.com