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Tagged: Gary Wong Realtor

What’s The Difference Between The 3 Types Of Mortgage Professionals?

 

Mortgage Broker?  

Mortgage Specialist?  

Mobile Mortgage Specialist?  

Mortgage Manager?  

Financial Services Representative that does Mortgages?

Ever wondered what the difference between all three are?

 

Mortgage Broker:  These guys are licensed.  They take a mortgage broker’s license and they have access to multiple lenders.  They get paid by a percentage by lenders.

 

(Bank Name) Mobile Mortgage Specialist:  These guys work for the bank.  

Basic Real Estate Bidding War Strategies

 

Do you feel nervous when it comes to bidding on real estate?

Do you shy away from competition?

Are you constantly losing in the bidding wars?

Don’t you wish you knew some basic strategies so that you’ll have the upper hand next time?

 

First off, in this hot Vancouver market, bidding wars are inevitable.  It doesn’t matter whether you’re buying a house, condo, townhome or duplex, you’re going to be buying something that others can’t wait to buy.

When Getting A Mortgage, Don’t Trust Lenders Unless They Do THIS

 

 

Banks sometimes lie…

 

I had been warned by my managing broker when I first got into the industry.  I took note and was careful to advise all my clients of this.  What is it you say?

See, everyone knows that it would be a good idea to get a mortgage pre-approval and pre-qualification prior to searching for a home with their Realtor.  

2016 Economic Forecast As It Relates To The Vancouver Real Estate Market

 

 

 

 

I just attended the company’s 2016 Sales Kickoff meeting and heard the yearly economic presentation by Bryan Yu from Central 1 Credit Union.  
 
I’ve attached the pdf for your convenience in the link above, but I’ll summarize the main points from his presentation and from his talk below:
– China economy still weak and slowly recovering (~6% growth)
– Euro economy around 1% growth
– US labour market at 5% unemployment (down from close to 10% in 2011)
– Oil prices low due to too much supply
– Cost to produce NEW Oil for Canada, around $70/barrel
– Canada’s interest rate – no anticipated increase in forecast until at least mid 2017
– BC economy much better than other provinces
– BC labour market incredibly strong
– Increasing # of housing starts in the past few years, but demand is STILL more than supply, developers frantically developing to quench high demand
– Based on economic fundamentals, no bubble in sight
– Year over Year MLS HPI Benchmark Price going up 13 – 28%
– Vancouver Vacancy Rates for Condos at ~0.9%

The Biblical Principle I Copied From Jeremy Lin To Compete In Real Estate

 

 

Who are you working for?  

 

What drives you?  

 

What vision or mission statement do you live by?

 

When I watched a video on Jeremy Lin’s youtube channel, I made up my mind on what I would be working for.  The video, titled “Jeremy Lin – Episode 1: A Day in the Life” shows Jeremy Lin waking up at 6:30am and working out and playing basketball all day to develop his skills.  

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