We’ll be taking a short break from the Market Update and will be returning on July 8th. In the meantime, now is the perfect time to get caught up on the last 3 videos below and get started on the prospecting activities and opportunities outlined in each.
June 3rd Market Udpate
June 10th Market Update
June 17th Market Update
If you were unable to tune in for our Market Update live, watch the recording above.
Please click here and refer to the related tab of this article to access the slide deck.
In this Market Update, our CEO Shubha Dasgupta shares information on the most updated market. He shares the quote: it’s not what you say; it’s how you make them feel. He explains the update on interest rates and the percentage of what’s happening in the market regarding insured, insurable, uninsurable, and rental. He compares fixed and variable rates and shares the importance of offering the best options to clients when considering a long-term mortgage.
Shubha further highlights mortgage renewal and the challenges that clients will face. The proactiveness of agents is needed to keep clients up-to-date with the best rates to assist them effectively. He stressed how important it is to build, grow, develop and nurture relationships shared between realtor partners and clients.
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IMPORTANT – E&O Insurance Renewal
It’s that time again! It’s time to renew our Errors & Omissions insurance.
*There is nothing for you to do on your end. This will be automatically deducted from your credit card or pending commissions in the coming weeks.
Please note that on average, E&O insurance has gone up in our industry for this coming year by 20%. But we are very fortunate to advise you that our insurance hasn’t increased in price; therefore, each agent will be charged the same as last year, which will be $380 for coverage from July 1, 2022 – July 1, 2023.
We will begin collection of these fees this week.
We will deduct the insurance in 2 ways:
1. Deduct from deal commissions. We will invoice your payroll account if you have current commissions pending.
2. Pay by credit card (Visa and MasterCard accepted). We will use the credit card on file in the agent portal if no commissions are pending
- Coverage period is July 1, 2022 – July 1, 2023
- $380 will be invoiced one time for the year
- You do NOT need to be a member of any industry association to get this pricing
- To hold an FSRA license, you must have E&O insurance at all times, whether you are doing business or not, without exception
If you have any questions, please don’t hesitate to contact Diana or your Broker Owner.