Sunday, December 16, 2007

New Tax Savings for First-Time Homebuyers

The Ontario Ministry of Finance announced a new tax measure that directly benefits First-time homebuyers. Effective December 14th, 2007 the Government of Ontario is giving all first-time homebuyers a break on the land transfer tax by expanding the Land Transfer Tax Refund Program to include purchases of resale homes as well as the original new home builds.

“Expanding this Land Transfer Tax refund is an important part of our government’s commitment to helping Ontarians buying their first home.” Finance Minister Dwight Duncan announced.

Effective now first-time homebuyers are eligible for a refund from the provincial government of up to $2000 of the Land Transfer Tax paid. This new incentive is part of the new tax initiatives in the 2007 Fall Economic Outlook and Fiscal Review and is part of $1.4 billion in provincial tax relief for businesses and people over 3 years.

If you need help with selling or buying a London home visit for excellent resources or contact me direct for a free consultation.

“Helping Good People Get A Great Home”

Tuesday, November 27, 2007

Tips For Selling Your Home In London

Here is an article on things you can do to better market your home for sale in the London area. It is not inclusive of course but I hope you will find it a valuable resource to get you pointed in the right direction.

Make a strong first impression by paying attention to the little details. Remember this is now a product that you are trying to market and the first impression is important. Make sure your home is very clean and well taken care of. If you do so the buyers will assume that you have taken care of the rest of the home equally. The reverse of that is if you do not then they may assume you didn’t maintain your home and you will lose money.

Go to the outside of your home and try to look at it as a stranger would. A stranger will notice all the tiny flaws like dirty windows, leaves in the eaves troughs, poorly maintained yard and hedges. Try to have all these things resolved and make sure you have a clear path to the front door. You want the potential buyer to feel comfortable approaching your front door.

In most circumstances your house is going to be shown by a REALTOR and a buyer client. In this case they are already likely interested in the features of your house on paper and it is time to appeal to their senses and emotions. It is important that a potential buyer gets a good feeling from the house and can genuinely feel like it could be their home.

Here are some things to make sure you do to help prepare you home and show it in the best possible light.

*Rent a storage unit
*Remove all clutter from all your rooms
*Clean, Clean, Clean
*Remove excess furniture
*Put away toys and games
*Make sure your house smells fresh, open windows and air it out
*Put away any valuables and fragile items
*Make sure doors and cupboard doors open and close easily. Oil if they squeak.
*Repair leaking taps
*Put fresh caulking around tubs and showers where needed.
*Put out fresh flowers
*Remember those closets, visitors will look there, so keep them tidy

Price your home to sell. This is one of the biggest hurdles a seller can have if you don’t properly inform yourself about the market. Do not take pricing advice from your mechanic, or doctor, talk to your professional REALTOR it is what we do full time. It is a common error that a seller will think their home is worth much more then it is and pricing too high will turn away potential buyers before they even see your home. That in turn means your house will stay on the market too long and you will lose money. Dropping your price large amounts later is a poor and costly marketing strategy. It is much better for you to stay firm on a lower price and have your REALTOR negotiate other value items and conditions. This will put more money in your pocket in the long run.

Selling a home is a lot of work but it will be well worth it if you make a plan and work through the process. It is important and there are many things that cannot be put in a simple one page list of tips so please contact your favorite REALTOR and get professional advice. If you are thinking of selling in the London Ontario area please contact me and I will be happy to help you sell your home and find you your dream home.

Saturday, November 24, 2007

Get Representation!

Get Representation!

I can’t stress the importance of this enough. This is likely the biggest and most important financial decision of your life do not take the risk of spending thousands of dollars more then you need to. If you are buying a home in the London area please contact me and I will be happy represent you.

Who Pays?

In virtually all cases the REALTOR is paid from the proceeds of sale and any fee paid is set by the Seller during the listing agreement. This fee is fixed at that time and is paid whether you get a Buyer’s Representative or not. You save nothing by not using a Buyer’s Representative.


It is very important to know whom a REALTOR is working for. If you do not have a signed Buyer’s Representative Agreement then you likely are a Customer to who ever you are talking to-which means they are likely actively working for someone else!

This is a very important financial decision please make sure you understand who is working for who. I will be very happy to explain and clarify any questions you have. If you are looking for a home in the London area please contact me and I will help.

What can I do as your REALTOR?

There are many things involved in buying a London area home. I can provide you with a step by step guide to buying a home. Here are a few other things that I do for you:

Financing- As your REALTOR I understand the different financing options available and I can help direct you to someone who has financing that is right for you.

Searching-As your REALTOR I will actively search for a home that means your needs and budget. I will show you properties that you are interested in.

Selecting-As your REALTOR I will help provide objective information about each home, and its area. I will help you evaluate whether it will truly meet your needs and how the homes features will affect its value in the future. Will you make money on it in the future? I can help you answer that and give you detailed information about the market.

Negotiating-As your REALTOR I will help with this complex and very important step. Drafting the legal documents can be very confusing and I will help explain what everything means. I will also help negotiate details like price, financing, terms, date of possession, inclusion or exclusion of fixtures, chattels, and repairs.

Closing-As your REALTOR I will help get you to this final stage, help handle problems along the way, and get you into the home.

After Closing-As your REALTOR I will not disappear and I will follow up with you regularly to make sure you are doing well and answer any questions or concerns that may have come up after the purchase. I will still be there to help you.

There are many other things I will do as your REALTOR as the process is very complex. My services are guaranteed in writing. Call me today and I will be happy to explain to you in more detail.

Marking Extra Mortgage Payments`

Making Extra Payments

Do yourself a favour and consider making an extra principal payment on your mortgage as often as you can.

Paying extra amounts on your mortgage can make a big interest saving over time. When we select a mortgage company, privilege payments options are something that we look for. A 20% privilege payment will allow you to pay off up to $20,000 per year on a $100 000 mortgage. It is important that the privilege payment also be flexible to allow you to pay smaller payments on the mortgage and as often as you wish. An extra $1000 periodically paid on a mortgage can help you become mortgage free faster.

Payment # Interest Principal

13 583.62 138.51

14 582.82 139.31

15 582.02 140.11

16 581.22 140.91

17 580.41 141.72

18 579.59 142.54

19 578.77 143.36

20 577.95 144.18

21 577.12 145.01

22 576.28 145.85

23 575.45 146.68

24 574.6 147.53

25 573.75 148.38

26 572.9 149.23 Total 8096.5 2013.32

This is an example payment schedule for a mortgage of $100, 000 at 7% interest amortized over 25 years. This one includes CMHC fees.

Many people don’t realize that when you make a lump sum payment, from a tax return as an example, your payment goes directly to the principal increasing the equity by a large amount. Looking at my table you may notice that you save an entire year’s interest by making a one time payment of only $2013.32. You gain that equity and save an additional $8096. 50 in interest. Now that is a great return on investment.

For more specific information applicable to your unique situation contact your mortgage professional. If you need help finding one in the London area for your home please contact me and I will help you.
Thanks to Bigfoto for the picture

Wednesday, November 21, 2007

London Housing Market Affordability

Housing in London continues to climb in value but compared to the national average it is a bargain. London is 33% lower priced then the national average.

Major Market Comparison:

London and St. Thomas $202,613
Calgary $415,391
Durham Region $263,851
Edmonton $339,382
Hamilton-Burlington $268,340
Kitchener-Waterloo $251,157
Ottawa $272,773
St. Catherine’s & District $217,349
Toronto $372,480
Greater Vancouver $568,498

London will see steady growth, no dramatic spikes in the short term, which makes it a great place to invest long term.

London’s local economy is diverse and strong and the city is posed for increased residential growth.

London’s hot housing market will cool slightly in 2008.

New home starts will slightly decrease from 3300 to 3200.

Resales in 2007 are projected to reach 9430 sold. While still being a “seller’s” market in 2008 sales will drop a little to 9300 sold.

The average price for residential is projected to increase by at least 4.5% for London.
For more detailed information on the London housing market, homes for sale, an evaluation of your property and neighbourhood please contact me. I can be reached by email, or by phone at 519-685-4190.

Friday, November 16, 2007

London's Smart Buses

The new smart buses are scheduled to hit London’s roads this coming spring (2008) and I have to say some of the features are really cool.

The upcoming changes are part of a plan to improve local transportations systems by providing better customer service and make buses more accessible to all Londoners. The Siemens VDO program has two key elements it allows real time communication to riders and potential riders of its position and time of arrival, as well it allows the bus to have priority service at traffic signals-so the bus can reduce the time it sits at a red light. This will also help with environmental impact from the bus with idle times from sitting.

Now if you are like me you were thinking how great that is and how do you get it-well it is $30, 000 per bus so unless you have more money then you know what to do with I don’t think you will be installing one soon. If you do have enough spare money for one you need to call me and I can help you with that.

It is expensive but fortunately Londoner’s are not going to get hit with a tax increase as the Provincial and Federal Governments are sponsoring programs that are for new and improved services- Thankfully this qualifies.

Another part of the new system involves improving accessibility and quality of use for everyone. One of the new features will provide audible notifications at the approach and arrival of each stop. When the doors open it will announce the bus and the route it is on. The audible messages will be of great value and equalize the environment for someone with a visual disability.
The London Transit Commission has some interesting long term plans for the improvement of London’s transportation-what do you think of this so far?

Friday, November 9, 2007

Lest We Forget

On the 11th hour of the 11th day of the 11th month

In Flanders Fields the cannons boom,

And fitful flashes light the gloom;

While up above, like eagles, fly

The fierce destroyers of the sky;

With stains the earth wherein you lie

Is redder than the poppy bloom,In Flanders Fields.

Sleep on, ye brave! The shrieking shell,

The quaking trench, the startling yell,

The fury of the battle hell

Shall wake you not, for all is well;

Sleep peacefully, for all is well.

Your flaming torch aloft we bear,

With burning heart and oath we swear

To keep the faith, to fight it through,

To crush the foe, or sleep with you,In Flanders Fields.

Written in response to "In Flanders Fields"
~~By J.A. Armstrong.~~

Please remember those that have fallen, have fought, and are fighting to protect our freedom and the freedom of others.

Monday, November 5, 2007

Ambassador London Event

Ambassador London Event

This week is the Ambassador London kick off. This is a grassroots campaign to promote London as a great place to work, live and do business. The purpose is to get local people from all walks of life together to promote our great city.

Ambassador London is meeting Tuesday, November 5, 2007 at 4:30 p.m. at the London Convention Centre. For more information on this campaign you can visit

Ambassador London will help provide tools like videos, photos, fact sheets, and online resources.

London has so many wonderful things going for it and with recent awards like: Top 5 for Best Economic in North America; Top 5 for Most Cost Effective in North America; and ranked 4th in the Top 10 Overall Ranking for North America you can see that the international community thinks so too. (Awards from Foreign Direct Investment Magazine for Small Cities of the Future-North America

We know London is a wonderful city so if you have a chance to help promote it, and support Ambassador London, the world will know it too.

Sunday, November 4, 2007

Commission Distribution-Personal

In an effort to promote open discussion and hopefully eliminate misunderstandings I am writing a brief explanation for my commission distribution. I am pretty sure most people are curious and while some people do ask not many do. Maybe you are thinking about getting into real estate or maybe you are a consumer who is curious-read on!

Last month I wrote trying to explain the split between Listing and Selling portions and I went into a little bit of detail for the individual. My example was not complete though and was on the high side.

This example will not apply to every situation because services and fees selected can be different depending on the needs of the client. One generic package is not my style in fact I am very flexible about your needs and try to tailor services to be appropriate to you. Also, I am pretty sure that other sales people have different splits, likely better, with their brokerages but you would have to ask them. I am a pretty open person so I don't mind sharing the information- mine is 60/40 to start.

Here are the numbers for my gross earnings for $1000:

Gross Income $1000
Less Brokerage Portion ($400)
Less Taxes ($300)
Less Expenses ($150)
For Adam ($150)

Obviously that looks pretty poor when you see 85% going away. Makes you want to cry, haha. The idea to improve that is to minimize your taxes (by deductions) to help offset a low take home pay. Self employment is taxed pretty hard so you really need to have a good accountant. By the way I am still looking for one :D

In order to survive in any business you need to manage your expenses. There are a considerable number of fixed expenses for a licensed Realtor that have to be managed. Overhead for us includes things like desk fees, liability insurance, licensing fees with CREA/RECO/OREA and London & ST. Thomas Association of Realtors.

Ongoing education is mandatory as well in order to maintain the quality of the industry-it is a requirement to keep your license.

Advertising is always a massive drain on resources particularily in print campaigns. Online advertising has a much lower dollar cost per advertisement then print; However, there is more time involved finding and maintaining the ads placed on sites.

On the plus side you don't need to worry about home advertisement if you are representing a buyer client. A buyer client has different needs. To represent a buyer you need a healthy time commitment to them as a buyer generally is 7 to 10 times the personal time commitment. I enjoy helping buyers but you certainly want to make sure you get along since you are spending a lot of time together.
I am getting a bit off topic here but I hope you were not too bored with the number crunching blog and found it useful information. Please don't hesitate to ask if you would like me to clarify anything for you- email is the easiest or you can visit for other useful information.
Photo curtesy of

Thursday, November 1, 2007

A Beautiful Testimonial

What an honour it was to receive a beautiful testimonial like this. Of course I am happy to receive it but it was more important to me that I could deliver that kind of service to her. I really enjoy helping people and it is nice to be appreciated when you work so hard.
Angela wrote:

As a first-time homebuyer, I had no idea where to start. Upon meeting Adam, the
process has become so much clearer. He took the time to explain to me fully the
entire process, and has been there every step of the way. He is easy to contact,
and always replies promptly. He has provided referrals, ideas, suggestions, and
moral support through the entire thing. He really went above and beyond.

I can confidently say that Adam has provided me with the best customer service
experience I have ever had, in any industry. Thanks to him, I got my dream
house. Thank you, Adam, I couldn't have done it without you.

Many times people will share a negative experience and it is so wonderful when they share a positive one. Well here is hoping that I can please everyone this much- I will try to anyway.

Wednesday, October 31, 2007

A Strong Ontario Housing Market

Recent Ontario housing forecasts say resale and new home starts will continue to be in record territory through 2008.

CMHC predicts Ontario resale volumes will hit 214,350 for 2007 and reach 206, 250 for 2008. The hottest resale areas in Ontario, for 2008, will be London, Hamilton, Brantford and Sudbury with price gains exceeding the average for Ontario.

Ontario new home starts will improve from 67, 700 units in 2007 to a projected 68, 175 units in 2008.

London statistics for 2007 show a very strong housing market and this trend will continue for 2008. It is expected that the growth will be a little slower next year because of the increase in mortgage carrying costs but still exceeding the projected Ontario average of 3.3%.

If you would like more specific area information for London, including by housing type, I would be happy to answer your phone or email request. I can be reached at or you can call 519-685-4190.

Thursday, October 25, 2007

8 Home Safety Tools

Fire Escape Plan: Have a fire escape plan in place and review it with your family. Talk to your local fire department for helpful hints.

First-Aid Kit: Have a stocked first-aid kit and make sure none of it is expired. Examine it regularly to make sure it is stocked.

First-Aid Training: Even better then a stocked kit is taking the initiative to get professional First-Aid training and certification from an organization like St. John’s. This can save a life.

Fire Extinguisher-type ABC: This is a multipurpose fire extinguisher. Most people may not know that there is actually a type for each material type and unless you have the right type it will not put out your fire. Play it safe and buy a multipurpose extinguisher.

Rechargeable Flashlight: Having a flashlight is very useful in many situations but nothing is worse then having a power failure and dead batteries in it. Take advantage of a wide selection of quality rechargeable flashlights to update your safety tools. There are several on the market that you can also recharge in your vehicle.

Smoke Alarm: I am not sure about your area but most areas have fire codes that require a working smoke alarm on every floor. A good model includes a stop button, test button, and a built-in light. Test it regularly and change your batteries when you change your clocks.

Carbon Monoxide Detector: Some useful features to look for are an emergency backup battery, rechargeable, in case of a power failure. Also, a digital display for present levels with a memory function to record maximum levels reached.

Emergency Power Supply: This can go beyond a basic generator. There are many options out there like digital invertors for a stable power flow. Also some great all in one units that include a tuner, AM, FM, and TV signals; features include 110 volt AC or 12 volt DC current for recharging cell phones and other things.

Homework for your Home

Here is a brief list for each season of things you should be checking to keep your home well maintained. A well cared for home will help with your enjoyment of it and improve its future market value.


Gutters: Check your gutters to make sure they have not been damaged during the winter. You want them clear of debris so water flows freely as intended.

Attic: Inspect the attic for water seepage or condensation issues and have things repaired if needed.

Basement Floor Drains: Check that your drains are functioning properly.

Foundation Walls: Check to see if cracks have appeared or if there were any existing ones that they have not widened.

Flashings on the roof: check that the vents and chimney are in good condition.

Yard Grade: Check the slope and grade of your yard to make sure it will drain away from the foundation as intended. Check that there was not any soil settling over winter.

Decks and Balconies: Check that the railings are in good repair and sturdy. Check the overall condition.

Central Air: Have your C/A serviced and cleaned. Also a good time to have your air filter changed on your furnace.


Windows and Doors: Inspect and repair any issues with your windows and doors.

Exterior Walls: Inspect and repair any issues with the exterior. Redo weak mortar joints in brick facing, repair siding, or paint as needed.

Interior Painting: This is a good time to paint your interior as well if you have plans to do so.

Roofing: Check over your roof to make sure it is good repair and replace shingles if needed.


Baseboard Heaters: Clean and test to make sure they are in working order

Furnace: Clean ducts, change furnace filter, and make sure your furnace is working properly.

Fireplace: Inspect the condition of your fireplace and chimney and repair any issues. Make sure you have them cleaned.

Weather Stripping: Examine windows and doors to make sure the weather stripping is in good repair. Apply new weather stripping if needed.

Attic Vents: Inspect the attic vents and make sure they are clear of debris.

Crawl Space: If you have a heated crawl space make sure you shut the vents.


Stay warm. Drive safely.

Maintaining your home during the warmer months is a great way to make sure you have no winter emergencies. Avoid tragedies like a dead furnace on the coldest day of the year.

Tuesday, October 16, 2007

How I Ended Up In Real Estate: Part 5- Choices and Dreams

Terrified, excited, driven, unsure…those are a few ways to describe how I felt with the unknown before me. The next chapter heading towards self-employment was a hurricane of emotions.

Now I had to make a choice. It was time to center myself, recoup my energy, shed the negative energy, find my direction and pursue it but where? Where would I head? How could I do what I wanted to do, help people, be there for my family, be self-employed, but still do something I would love to do?

Isn’t that everyone’s dream? Maybe it is yours and if it is, or even if it isn’t, I wish that you find your dream. I hope that you can find a way to make your dreams happen. It can be hard though but you can do it.

It is funny how we can miss what is right in front of us the entire time. The answer for me was hitting me in the face daily but it took my family and friends to point out the obvious to me.

I did a mini interview with several of them. I did it individually so they had no way of knowing I even talked to anyone else about my future and options. Amazingly they ALL suggested Real Estate. I couldn’t believe it, of all the choices they could have said that would have met my criteria (on paper anyway) they all picked Real Estate.

Well needless to say I couldn’t ignore that amount of positive energy towards a single choice. I had to pursue it and they were right it has been great so far.

Well that is the short version of how I arrived at this point in my life. I am happy to be where I am and now I want to help others. I want to help others find their dream homes. I want to help others be successful and of course I want to be successful.

Maybe I will hear from you but even if I don’t thank you for reading about me. Feel free to tell me a bit about yourself.

How I Ended Up In Real Estate: Part 4- Important Realizations

The next major period of my life was working with Hercules International. I was Warehouse Manager for about 6.5 years there and it was significant to me for many reasons. I describe some of the skills that are applicable to real estate in the About Me on my website so I won’t go through those. I think it is better to talk about some of the other stuff.

Some of the most important things I learned involved working with a wonderful team of people and developing lasting relationships. It truly helped me appreciate how good it felt to help people in their careers and in their personal lives.

I would like to think that I made a difference in more ways then just the bottom line for my company. I am proud of my accomplishments there and very proud of the staff I worked with. I really miss them but I am excited for the future as well. It was one of the hardest things I have ever done leaving there but it was for the best, for all of us.

I learned that no matter how much you love the people you work with -a few real bad apples could spoil the bunch over time. The longer the time the more sour the stink, heh.

All of this led me to appreciate that I really wanted to help people, that I enjoyed being of service to others. Obviously, I need to make a living as well but there are far more important things in life then money and those are the priority.

How I Ended Up In Real Estate: Part 3 Building the Foundation

My plan called for developing a foundation of skills and experiences that would give me long-term success. To do this I also had to recognize my weaknesses especially that I was an introvert and very analytical. Those can be big advantages in business but from a sales and customer service aspect sometimes you can be taken the wrong way and appear unfriendly.

I picked Sales and Marketing for college because I thought it was singly the best major I could pursue to help improve my weak areas. I could have picked something that I would have naturally excelled at but that was not the purpose. I really had to work hard in college but it paid off and I finished top in my class. Crazy when you think of how much this went against my personality type.

Have you ever done something that you were afraid of, or dreaded so much that you joked about preferring some type of pain? That was how hard it was for me to take that course.

After college it was time to improve on my education with more specific work experiences. It was time to learn how to service clients better and really work with people on a new level.

How I Ended Up In Real Estate: Part 2 Fast Forward

I took with me some significant life lessons from my teenage years. I am sure you did as well and can relate. So many mistakes that I wish I hadn’t made but probably best that I did- learning from our mistakes is key I think. I think I could write a novel just based on those years.

Now that I think about it some of those mistakes and lessons carried into my twenties as well. I laugh when I think back now. It was shortly after that I swallowed my pride and realized no matter how much I really wanted success, or how smart I thought I was, it was never going to come to me unless I set out a plan and followed it.

That meant I needed higher education but not just formal also more specific work education as well. It was time to plan for the skills I wanted to gain. It was time to drive forward with a purpose and move beyond survival.

How I Ended Up In Real Estate: Part 1 The Beginning

I decided years ago that I wanted to own my own business. Actually even when I was young I did too. Of course my primary dream back then was to play in the NHL. What boy didn’t? Fortunately my skills in business have always been better then my puck handling, but oh to dream.

If you just run out and start a business without a lot of homework you are not going to succeed. Without a big savings account you are going to have a lot of trouble too. I came from a lower income family. That pretty much meant I had to work very hard to get a head in life.

I started working pretty young. In Niagara Falls the tourist industry gave me a full time job as a teenager. I started working seasonal full time hours at 13 years old. This helped me fund my hockey addiction and other sports-and gradually I started saving for the future.

I tell you I gained a solid appreciation for hard work and the value of a dollar. It can really motivate you when you work that hard and make only a couple bucks an hour. You come to realize there has to be a better way.

How I Ended Up In Real Estate-Introduction


The purpose of this series of blogs is to give a more personal look into my life and why I came into real estate. Some of you may be genuinely interested and I hope you enjoy my story.

Well I am not a great writer but I did try to make it reasonably interesting for you to read. It is definitely not a sales pitch nor does it hold wondrous real estate secrets. It is strictly me sharing some of my life experiences and lessons learned to get to this point in my life. I hope it has some value to you and thank you for reading it. Feel free to send me an e-mail or comment. Please be nice though :)

Wednesday, October 10, 2007

Market Update

From the desk of your friendly neighbourhood REALTOR Adam Mihm.

Hello neighbours,

I know several of you are curious about the market situation in our area and in London. I know the area quite well because I live right here in East London.

The condominium townhouse market is going very strong at this time and our London inventories are low because the demand is very good. That means it is a really great time to list if you are thinking about selling your London townhouse.

The demand for lower priced properties continues to be very strong. However, medium to high range homes demand has dropped off, making this an excellent time to move up. Call me for more information on this 519-685-4190.

The bank rates for mortgages are staying pretty steady but it is expected that may change in the near future. We have two Mobile Mortgage Specialists that work with us here at Coldwell Banker. One from TD Canada Trust and one from Bank of Montreal if you need any mortgage assistance-they can travel right to your home. If you would like their information just let me know and I can forward it to you, or I can arrange a meeting if you prefer.

So, right now the situation looks really good for selling townhouses and it’s looking on the upswing for buyers looking for other residential free hold homes. This is a really good time to sell your home.

Visit my website for great buying and selling resources as well as the advanced MLS-IDX search engine.

If you would like a Free Home Evaluation, or a no obligation consultation-for your buying or selling interests, please contact me and I will be happy to help you. Coldwell Banker is a great Brokerage and 98% praise our overall performance. We provide Ultimate Service and its Guaranteed!

This is Not Intended to Solicit Properties Already Listed For Sale

My Original Announcement Letter

This was my original announcement letter that I sent to friends and family. The idea behind a letter like this is not to harass your friends and family but to make them aware they now know someone in real estate. You never know when you can help.

I am pleased to announce that I am now a licensed Sales Representative with Coldwell Banker 1st London R.E.S. at 1069 Wellington Road South, London. There are several reasons I’ve chosen Coldwell Banker 1st London R.E.S., just a few of them are:

The Ultimate Service Guarantee, “We Keep Our Promises or You Don’t Keep Us” Coldwell Banker 1st London Ultimate Service Program means consistent, predictable, reliable performance- Guaranteed! Based on what we have learned from out customers we have developed and refined our service standards and practices. We deliver action – Guaranteed!

We provide added value to our clients: real estate experience that is unmatched in the industry. Exclusive to Coldwell Banker, a leading edge and unique innovation to the real estate market… Our concierge Coordinator assists our clients in finding any products and services required before, during and after the listing or buying process.

Leading edge technology of our web site at Ultimate tour on line, and Personal Retriever on line, only at Coldwell Banker, the newest innovation in real estate marketing.

If you are looking for someone to work hard for you and help you either sell your home or buy another or even if all you need is information on current Real Estate market, please do not hesitate to call me. Coldwell Banker has more than 100 years commitment to exceptional service, plus over 300 offices nationwide and more than 4,200 offices internationally.

My goal is to remain committed to providing excellent and comprehensive service and I look forward to hearing from you. I can be reached at my office or 24 hour pager at 519-685-4190.


Adam Mihm
Sales Representative
Visit my personal website

Wednesday, October 3, 2007

Commissions-Did you know?

In real estate these days there are a lot of misconceptions regarding commissions on property. Like most rumours every new story increases in magnitude so I would like to make it a little more transparent for you and hopefully shed new light on the subject.

There are two parts to a commission in a real estate transaction; the first is the Seller's portion (listing) and the second is the Buyer's portion (CB/co-operating brokerage). What the total commission is determined by the Seller with services selected, marketing costs, what the Seller sets as for the Buyer portion just to name a few things.

Despite misconceptions a REALTOR actually only earns a small percentage of the overall commission. A good REALTOR will have earned their commission many times over. Let us review an example commission of 6% since that is a nice easy number to break apart:

A Seller decides to pay a total commission of 6%. The Seller is giving 3% to the Listing brokerage and 3% to the Co-operating Brokerage (Buyer portion). This fee will stay the same even if it is the Listing brokerage who sells the property-they would get the Buyer portion as well as the listing portion on that case.

Each half, 3% in this example, is broken down like this: Brokerage 1%, Expenses 1%, Taxes 0.5%, Sales Representative 0.5%.

This is an example of how commissions are split but I hope it adds some clarity for you. If you have any more questions please feel free to send me an email and I will be happy to try and answer your question. Also you can visit my website for a list of services and information for buyers and sellers.

Take care,

Adam Mihm
Real Estate Sales Representative