Real Estate Facts

A real estate career was an enormous challenge before computers and the MLS system existed. “Offers had to be typed twice because the print wouldn’t get through 6 copies of carbon paper” says Linda who used to carry a typewriter in the trunk of  her car.   It was interesting times, in 1981 interest rates were at an all time high 19% - 21 3/4%.  We didn't have Canada Mortgage and Housing Corporation CMHC, high ratio mortgages.  Every transaction we included a Vendor Take Backs (VTB) on mortgages.   The market had a shift in 1985 and the market started crashing in late 1989 – 1990.  Linda knew her sales would drop like a stone so personally met with Vice Presidents of the Major Financial Institutions (CIBC, TD, Scotia Bank, BMO, Laurentian Bank, Central Guaranty Trust, Home Savings & Loans) to pursuade them to list their Power of Sale properties with her.  Linda received the contracts and sold over 153 Power of Sale properties representing these major Financial Institutions POS properties. "I would pack a shovel in the trunk of my car to clear driveways, walkways in the winter months and mowed lawns with an electric lawn mower in the summer months until Property maintenance companies entered the scene.