Ed Ganeff

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BUSINESS BASICS

Started as a Relator in: 1979, with no desire to retire. Real estate is part of who he is as a person.

Specialization: Richmond, Delta, South Surrey/White Rock, Downtown Vancouver, and Vancouver-West.

One piece of advice: Choose your real estate team very carefully. Interview prospective team members. Make a list of questions. There are no wrong questions, just ones that are important to you. Your real estate team would include a Mortgage Broker, Realtor, notary, lawyer, home inspector and possibly a handyman. Sellers would include professionals such as a home stager.

Why RE/MAX? RE/MAX opened its first BC office in the early 1980’s and Ed joined in 1985. RE/MAX encouraged independence and had attuned business model that allowed for synergy between RE/MAX Realtors, the exact vehicle he wanted. It attracts a type of person with a particular attitude, people who strive to be #1. Integrity, education, professionalism, and independence are very important. Ed appreciates that RE/MAX has become the ‘standard’ for excellence in real estate sales.

“Ed is great and he bends over backwards. He went above and beyond our expectations. Just super! We were referred to him by our daughter and son-in-law who have used him twice before. A great guy that lays it all on the line, right up front. We can’t say enough… We don’t just consider Ed as our Realtor, he is our friend” -Mr. & Mrs. Goertzen, Clients.

Q & A

1. What differentiates you from the 11,000 licensed real estate agents in the Greater Vancouver area? Real estate is an individual business. Some realtors make a lot of money in this business and you wouldn’t know their names. Others promote themselves everywhere, creating an image of success. I prefer to work by referral and nurture the relationship with each client.

I’m personable and attuned to each client’s housing needs. I listen more then I speak. Upon meeting a customer for the first time I interview them and discover their needs and wants in a home. Listening to my customers is a ‘key’ component in developing trusting relationship.

I don’t forget my clients. I keep in touch with market updates monthly. Even if they were upset with a particular part of the process I continually follow up to ensure I prove to them I am here to help assist in making their experience happy and memorable.

I don’t make promises I can’t keep, and I have learned from the years that sometimes the smallest, minor detail can make a transaction collapse. As a teacher, I help to show what’s truly important and how I can assist buyers or sellers see the value from my services.

I get my clients mainly from repeat clients and their personal referrals. I set up interviews with prospects to see if there is a right fit. We discuss and complete questionnaires in my buyer/seller presentation, review their basic financial position and offer referral sources to professionals they may need throughout the process.

Depending on location, situation and client fit, I have a buyer’s agent I work with that it may make sense to include. We have a buyer’s system in places so the client never feels unimportant.

2. Describe your Typical Client? It’s too difficult to pinpoint, but looking at the last year in particular, many of my clients are going through the “transitional” point of their lives. They have kids in their teens or adults and have owned their home for 20 or 40 years and now considering the next phase of their lives, which may include downsizing.

Buyers and sellers have changed over the years. In the last 10 years buyers are much more money conscious and attuned to the market and economy. They have access to relevant information and the internet.

Sellers are inundated with media reports about the housing market, however, a Relator is necessary to apply the statistics to their specific neighbourhood.

3. What has been your favorite success story? In 1989/90 the market was at it’s peak. I had a referral from a past client who wanted to purchase land to build residential towers in Richmond. I met the decision maker of the group and you wouldn’t know it by his uncoordinated, awkward and unpolished attire. His business card had an alphabet behind his name, every designation you could imagine. He was a factory owner, which produced electric stove elements. He was likely a Billionaire if you think about the number of stove top elements there are in the world!

I had worked non-stop for three months researching price points. I was asked to determine all the tower comparables in the surrounding cities. I had to show all the values per square foot amongst other things. We had to deal with the politics of the city for approval. That was a very stressful three months. The building approval passed in council by one vote! Then we had to arrange financing and collect all the deposits from the 50 initial investors by driving around the city collecting individual cheques. The experience was exciting and educational.

4. Who was your most interesting client? I came from poverty; so working with very wealthy customers can be challenging. A recent referral involved a wealthy couple who owned their own successful business and were familiar with purchasing and selling commercial properties. They owned their home for 30+ years in an area that became an ‘exclusive’ neighbourhood. They are now building a 7-Million dollar home.

We first met on their patio and the husband asked me questions I had never been asked before. He wanted to know my take on future pricing since they weren’t going to list for another 6 months. I was honest and put the question back to him, knowing no one could predict the future. His wife would ask more emotional or domestic questions, where he was quite the opposite, direct and business like.

It was an experience working with someone who had such a strong business sense in negotiations and real estate. Effectively we marketed the home and sold it for top dollar.

“Great, Great, honest hard working guy. Nice and knowledgeable.” -Greg Griffiths, Realtor, TRG The Residential Group

PERSONAL SNAP SHOT

About: Married to Kathy with four kids, 3 girls and 1 boy. He enjoys traveling, martial arts, biking, swimming, climbing and flying airplanes.

He’s Unique because… 1. He has taught real estate courses for the BC Real Estate Association for 23 years. He loves teaching the younger students, since they continually teach him new things on how to implement it in business 2. If he weren’t a Realtor he would have been a commercial pilot.

Likes (If you had more time, what would you do more of): Integrating more volunteering, theatre and arts into his daily activities.

Loves (can’t live without): Family, photography, and teaching

THE EXTRAS

Ed has real estate running through his blood. Thirty-three years can do that to a person. He loves the people he has done business with and has shown loyalty to him over the years. He also really loves meeting new and interesting people and helping them solve their housing issues. The hardest part of his job is educating people on the value of owning their own home, starting with affordability rather than financially extending themselves.

Ed not only appreciates and invests extra time into his education but he also has taught with the BCREA for 23 years. He achieves double the number of industry credits required each year and he keeps current by taking courses in home staging, finance, marketing, presentations, personal growth, and coaching. He continually makes an effort to keep up with the latest technologies and social media – he may not know how to use all it offers, but he’s able to use and understand the basics.

He believes that clients are looking for a Realtor with a personality match; someone they can bond with and trust. Clients have told him that they feel he is calm, diligent, and focused, especially when it comes to him negotiating on their behalf. Ed says his best features are his negotiating skills and patience, but he also stands by his integrity, forward communication, organization and punctual service.

He left me with a wonderful quote that I believe is the simple truth, “Don’t wait to buy real estate, buy real estate and wait.”

 Contact Ed.

 Wish to share your thoughts, feel free to comment below.

iVanity Card #2: Balance

Balance. What is it and what does it mean in life? I recently went to a women’s conference on Innovating Differently, Women, Entrepreneurship & Technology and enviably the question on work-life balance was addressed. The hot “balance” topic has recently been made popular by Sheryl Sandberg, Facebook CEO with her Commencement speech to the Barnard Graduating class of 2011 and, in more recent months, by Anne-Marie Slaughter, former Director of Policy Planning at the State Department for the United States, publishing a fifteen page article in the Atlantic, “Why Women Still Can’t Have it All.” My good friend, a female powerhouse, brought these amazing women to my attention through her blog Shawna’s Musings http://shawnalittle.com/.

Sandberg encourages women to “lean in”, “think big”, “believe in yourself” “own your successes”, and to “not leave before you leave”. We need to close the “ambition gap” to close the “achievement gap”. However, many women slowly start making small decisions for balances of responsibilities they do not yet have and are leaning back on their achievements; No longer challenging themselves. Sandberg promotes finding a career that combines passion and contribution so that you can be compelled to go back to work after starting a family. She believes the biggest career decision you will ever make is if or who will be your life partner. “A world where men ran half our homes and women ran half our institutions would be a much better world.” Whatever balance you seek, she compels you find it with your eyes wide open; don’t let fear overwhelm your desires.

Slaughter believes there can be balance, but not today; not the way the American economy and society are currently structured. Not until 50 women senators and a women president are elected and there is equal representation in the executive and judicial ranks will we have a society that works for everyone. She address some ½ truths (or ½ myths) on how we always thought it was possible to “have it all”:

1. It’s possible if you are just committed enough 2. Its possible if you marry the right person 3. It’s possible if you sequence it right

Amongst her in-depth insight to why we are where we are and what needs to change, she leaves us with this message “…We may need to put a woman in the White House before we are able to change the conditions of the women working at Walmart. But when we do, we will stop talking about whether women can have it all. We will properly focus on how we can help all Americans have healthy, happy, productive lives, valuing the people they love as much as the success they seek.”

So what did the women of the Vancouver conference say when posed on work-life balance?

“We don’t believe in balance, we focus on fulfillment.” “It doesn’t have to happen all at once…Consider it a scale, you may put more weight at one time on family priorities and at another time it may be work; over the long-term it can be balanced.” “Striving for what we believe is balance is setting us up for failure.” “Balance is not ½ and ½.” “Balance is a stupid word.” “No sense being at work and guilty about not being home and being a home feeling guilty that you should be doing work.” “There’s no such thing.” “Working for someone else doesn’t allow you to chose your balance.”

Balance, a word you think should be so easy, level, sensible and inconspicuous has left us, as a society, unaware and at a loss of what it really represents. I feel we are in the process of defining a new meaning to match our ever-changing world. In this process, for “balance” to have the substance we seek: happy, healthy, productive, fulfilled lives, it’s become exceedingly obvious that women must have an equal voice.

What’s your voice, what’s your definition of work-life balance?

Fantastic Find

Zenia Gardens – Victoria Park313, 8100 Jones Road, Richmond List Price: $325,000 Floor Area: 886 Unit: 2 bed, 2 bath Maintenance Fee: $225.91 Taxes: $1331 MLS: V967197

What a fantastic complex.  Victoria Park is welcoming and beautiful, complete with landscaping: large fountain areas, kids play parks and walk ways.  There is plenty of guest parking in the underground and within the complex roadways.  There are about 300 units in the complex which was fully rain screened in 2009.  My research shows that there are currently 13 units for sale; the comparable units are listed here.  Many listings do not include pictures, making them difficult to compare.  Unit 313, the second most affordable unit listed, offers a great buy for the layout, location and upgrades it offers.   The unit has also recently had a price reduction from $348,000.

I liked the feel of the space; a feeling of home within an apartment.  The first thing I noticed was the laundry room – an actual, dedicated room for the washer and dryer in a 900 sqft apartment!  Amazing, and it didn’t take away from the usable space of the unit. Even though I was impressed by the laundry room, it did not over shadow the wonderful, open, bright and spacious kitchen.  A great layout, with considerable cupboard space and room for a breakfast bar area.

The living room provides space for both social and dining.  The large patio faces Southeast towards Blundell, however, the beautiful landscaping of trees gives it a very private and quiet feel.  The master bedroom has a full ensuite with a tub, a walk-in closet and cozy window seat.  The second bedroom is not large, but there is a decent closet and enough space to have a double or queen bed with a small dresser.  The second bathroom is beside the second bedroom; a full bathroom with shower.

Amenities include a guest suite, club house, playground, bike room and care taker.  Location is fantastic with transit, sky train, Richmond Centre, community centre, schools, library and shops within walking distance.  Well worth an in-person look as the pictures do not do this unit the justice it deserves.

PROS

1. Location
2. Laundry room
3. Spacious and open kitchen
4. Landscaping
5. Guest parking
6. Renovated and well maintained throughout
7. Large private patio
8. Breakfast and dining eating areas
9. Fireplace
10. Walk-in master closet
11. Pets and Rentals allowed (with restrictions)
12. Completely rain screened in 2009 – 2 more years on warranty

CONS

1. Upgrades could be done on bathrooms eventually
2. Middle-aged building that may require repairs
3. Smaller second bedroom

MORTGAGE NOTES

Example at 3.095; List Price: $325,000

High ratio loan (less than 20% down); 25-year amortization Down payment (5%): $16,250 Mortgage Amount: $317,240.62 Default Insurance (2.75%): $8,490.62 Loan Amount: $317,240.62 Monthly Payments: $1,516.02 Approximate Income Required: $70,000

Conventional loan (more than 20% down); 30-year amortization Down payment (5%): $65,000 Mortgage Amount: $260,000 Monthly Payments: $1,108.26 Approximate Income Required: $54,000

From my home to yours - Irene

Attention Renovators

Canterbury Court 212, 7471 Blundell Road, Richmond List Price: $276,000 Floor Area: 900 Unit: 2 bed, 2 bath + Den Maintenance Fee: $289.44 Taxes: $1200 MLS: V964851

The unit has an amazing amount of storage space relative to the size of the apartment. The closets have nice depth and have been fitted with shelving and rods to give flexible and usable storage. However, space could be further maximized with modern closet options and shelving. The apartment as a whole has a decent layout with functional space. Some simple upgrades could really make this unit shine. The current owner is offering to include new carpets or laminate flooring in the buyer’s preferred colour – a perfect start. Other common area aesthetics that could be considered for immediate revamping would include new paint, kitchen counter tops, cupboards, and appliances (including a washer and dryer). The bathrooms are in need of updates, however, one could wait for phase two if need be.

The building is well maintained and has had all major replacements already complete, including the roof, plumbing and electrical. Thicker windows were also replaced along the Bundell side to mute traffic sounds. The strata is proactive and has built up a considerable contingency fund. There is an on site caretaker as well as two guest suites, a heated pool, hot tub, sauna, gym with newer equipment, and a common room.

The location is fantastic, walking distance to Richmond Centre, elementary and high schools, transit/sky train, parks, community centre, library and more.

PROS

1. Location
2. Well maintained building (big expenditure upgrades have been completed)
3. Great contingency fund
4. Good closet space
5. Great amenity options
6. Insuite laundry hookup
7. Updated flooring costs include in the price
8. Large master bedroom with walk in closet
9. Pets and rentals allowed (however restrictions)
10. Den/office area

CONS

1. A number of upgrades are needed to modernize the unit
2. High maintenance fees
3. Older building
4. Small second bedroom
5. No dining area (was converted into den)

From my home to yours - Irene

Move in Ready

9351 McBurney Drive, Richmond List Price: $718,888 Floor Area: 1992 Taxes: $2,647 MLS: V951957

A nice neighbourhood with family friendly feel. The streets are quiet and homes are well kept. This particular home has a reverse layout with the master on the ground floor. The master bedroom has an attached sunroom/reading room with access to the backyard. There is an adjoining bathroom, which is also accessible from the main hall. The downstairs has a small, but functional laundry room, a third bedroom as well as a garage that has been converted to a bonus room. It has the potential to be a fabulous games room, large bedroom, home office or it can be converted back to a garage.

Upstairs the kitchen is open to a large deck and breakfast/social area proving a great space for having guests. The one bedroom on this level can be used as a bedroom, but may be better suited for an office due to its proximity to the kitchen and living room. The dining and living area features vaulted ceilings, which enhance the openness and brightness of the space.

PROS

1. New Renovations throughout
2. Bonus room – large and versatile
3. In house storage on ground level as well as a pantry located in the kitchen
4. Laundry room
5. New additions of glass roof
6. New high efficiency heat pump
7. Close to elementary school
8. Large deck
9. Vaulted ceilings in dining/living area
10. Additional storage in backyard shed
11. Close to transit

CONS

1. Deck could use some upgrades
2. Deck looks into neighbours backyards and homes, not the most ideal view.
3. No grass area in back yard for kids – but would be low maintenance with the concrete slabs
4. Lots of stairs – every level requires going up or down a level.
5. Little parking in area for guests
6. Although close to downtown, still would require a short drive to get to main shopping areas
7. A bit of a walk to the nearest park

From my home to yours -

Irene