com·pe·tence

  [kom-pi-tuh ns] 

noun

1.

the quality of being competent; adequacy; possession of required skill, knowledge, qualification, or capacity: He hired her because of her competence as a REALTOR®.

2.

sufficiency; a sufficient quantity: He had the financial competence to complete the deal.

3.

an income sufficient to furnish the necessities and modest comforts of life.

4.

Law. (of a witness, a party to a contract, etc.) legal capacity or qualification based on the meetingof certain minimum requirements of age, soundness of mind, or the like. 

While watching the Cirque Du Soleil performance of LOVE in Vegas recently, the thought occurred to me that the simple ease in which the performers glided along the free hanging ropes hid the pain, struggle, and dedication it took to reach such a level of competence. All of the years of effort and dedication had paid off in providing the wonderful audience experience of seeing these masters of their craft defy gravity and float to the music of the Beatles. These performers made it all look so easy…but anyone who has tried to climb a single strand of rope hanging from a school gym ceiling understands how difficult it truly is.

Such is the case in any area of the arts, sports, and business it seems. The incredible musician flows freely with his instrument, seemingly able to pull beautiful music out of it on a whim. Yet the hours of work, tedious and demanding work required, are not seen in the final result. As well, the world class athlete performs superhuman feats like it is second nature. A hockey player skates forward and backward perfectly balanced and can stop on a dime to execute a perfect tip of the stick to deflect a tiny rubber puck into that small unprotected area of the net. Looks so easy…

I have had the privilege of working with some of the best REALTORS® in North America. These individuals also imbue that core competency that makes it look like business falls from the sky and into their laps each day. However, the years of struggle, risk, investment, education, practice, and training are not seen in their steady handshake or easy manner. Make no mistake…to be truly competent is to make it look like you are not even breaking a sweat while leaping tall buildings in a single bound.

Brian Tracy once said, “The future belongs to the competent. It belongs to those who are very, very good at what they do. It does not belong to the well meaning.”

So then, what is competence, core competence, and how do we achieve that pinnacle in our own business?

Competence is not something one can imitate. It can only be developed through time and effort. While it is true that some will have natural gifts that give an edge in certain disciplines, (a good musical ear, or natural athleticism, for example), to develop a true core competency takes work. In real estate some have a natural ability to instill trust in others through superior listening or emotive skills, but that will not remove the need to build good marketing programs, or follow statistical trends in their local marketplace.

The business authors, C.K. Prahalad and Gary Hamel have researched and explored the notion of core competency within organizations on a larger scale. They state that core competency includes communication, involvement, and a deep commitment to working across organizational boundaries to overcome them. It is a fundamental provision for creating added value within the organization as well as for the consumer.

Developing a core competency can be part of a specific office culture and can be developed over time as long as the intent of subject matter know-how, reliable processes, dedication, and commitment  are set as the guide posts. It must contribute to the end consumers experience and benefits as well as the value of the products and service to the client.

Every study of high achieving professionals proves that success in life is only possible when you become fully competent at your chosen field. So, one of the best uses of your time is to identify your key result areas and work on competence in them. For example, if understanding trends in market values in your area will result in a higher listing percentage, concentration on statistics and appraisal reports will help you develop competency as a whole. You may find yourself having difficulty making connections with customers at open houses, focusing on your social skills will help you build your core competency.

 Remember that concentration on the little things makes a big difference when you are working toward reaching the level of core competence. It’s the small incremental steps that you commit to doing that will set you apart and build true competence. Block out time on your calendar every week to commit to your personal training and education. That one small step will make a big difference in your career.

The Rose-tinted Glasses

“… as we know, there are known knowns; there are things we know we know. We also know there are known unknowns; that is to say we know there are some things we do not know. But there are also unknown unknowns- the ones we don't know we don't know.” 
― Donald Rumsfeld

In BC the provincial real estate council places a heavy burden of responsibility for an agent’s actions on the shoulders of the managing broker of the brokerage the agent is licensed with. Given the numerous valleys of gray amongst the mountaintops of success, it is a difficult mandate to help agents navigate through the unknowns. It is particularly tough when an agent has just enough knowledge to allow their brains to build confidence in their actions, but not enough knowledge to truly be competent in the field.

I have heard it said that the first phase in any new vocation or skill is that of “unconscious incompetence”. The Provincial Real Estate Councils across the country do a relatively good job in helping new real estate licensees understand their short-comings in terms of their knowledge base in the profession. They move them into that more uncomfortable phase of having “conscious incompetence”. However, Rumsfeld’s mysterious shroud of not knowing what we don’t know is something that impacts on both the seasoned professional and the novice. We must be aware of the Dunning-Kruger effect.

The Dunning-Kruger effect is the name for the blind confidence the brain gives an individual who fails to understand that they truly don’t know something. It is a cognitive bias that creates an inability to recognize personal short comings. Basically, it’s the effect of the brain reaching its limit of self analysis and thereby creating the sense of confidence to plow forward.

The Dunning-Kruger effect is named after David Dunning and Justin Kruger of the Department of Psychology at Cornell University. They conducted a series of experiments to study this phenomenon. Their findings shine a light on the fact that our understanding of things is highly subjective, and that we can fool ourselves into beliefs and prejudices that are inaccurate.

This inability to recognize one’s own inadequate knowledge or ability also brings along some other traits in the process. The unconsciously incompetent tend to overestimate their own level of skill, they fail to recognize genuine skill in others, and will only recognize and acknowledge their own previous lack of skill once they are exposed to training in that area.

Although the Dunning-Kruger effect was first published as a study in 1999, throughout history writers and philosophers have made similar general observations of this very human trait. The book of Proverbs states: Whoever trusts in his own mind is a fool; Confucius put it this way: real knowledge is to know the extent of one’s ignorance; Even Darwin has been quoted on the subject, stating: Ignorance more frequently begets confidence than does knowledge.

Interestingly, when someone speaks with confidence, the majority of people with find it easier to accept information as fact than when one speaks tentatively. However, the Dunning-Kruger effect suggests that those with inadequate knowledge have a self-induced sense of confidence because they have a cognitive inability to understand that they are, or might be wrong.

An analysis of experts and pundants in the media showed that in most cases their comments were inaccurate or just plain wrong. However, because these individuals were able to speak with confident bravado (and in sound-bites) they receive the media exposure. How often have world leaders in history been wrong and lead their countries in directions that time has proven to be damaging? No one, including monarchs, judges, and politicians, is totally immune to the Dunning-Kruger effect. History bears that fact quite well.

 If you are in a situation where you are thinking, ‘How can this person be so wrong ‘, and you are totally confident that you are right…take a serious and reflective moment to consider that you, not the other person, might be experiencing the Dunning-Kruger effect. Benjamin Franklin had a wonderful way of freeing the brain from its unknown biases. He would take a sheet of paper and on one side list all the positive reasons for a decision or a potential action, and then on the other side of the paper he would list all of the reasons against it. If it is a list written openly and honestly, then the correct position will reveal itself. However, you have to be willing to accept the outcome, even when it reveals that your own bias could be wrong.

In the extremely complex business of real estate, it is imperative that REALTORS® and Brokers be wary of the ways the human brain can fool itself into a false sense of confidence or righteousness. Never forget to speak to bonafide experts and do research to uncover those areas of “unknown unknowns”.

“We see the world, not as it is, but as we are -- or, as we are conditioned to see it. When we open our mouths to describe what we see, we in effect describe ourselves, our perceptions, our paradigms.”― Stephen R. Covey

Our lives, and our individual experiences have equipped all of us with lovely rose-tinted glasses. If you understand that you are wearing them, the better part of the battle of becoming competent at the highest level is being won.

The internet series of TED talks is a fascinating diversion these days. The series consist of experts in various fields sharing leading edge ideas and discoveries. The other evening I was scrolling through the latest of the TED talks and came across Russell Foster speaking on the subject of sleep. Foster is a circadian neuroscientist who studies the sleep cycles of the human brain.

While listening to Russell Foster’s lecture, it occurred to me that having a successful real estate career can be greatly aided by paying attention to one’s sleep habits and improving on them. This may seem contrary to the image of a hard working agent who never rests, but research suggests that spending quality sleep time is actually time well spent.

Sleep is the single most important physiological activity of the human brain. In fact, a person living to the age of ninety will have spent 32 years asleep. Interestingly enough, the brain does not shut down during sleep, quite the contrary. There are some areas of the brain that are more active during sleep. Some genes are only turned on during memory consolidation periods of sleep. However, sleep remains complicated. Researchers have theories on what sleep really is, but they don’t really know why we sleep.

The need for sleep is not restricted to humans. Other mammals and birds share with humans the two broad types of sleep: rapid eye movement (REM) and non-rapid eye movement (non-REM). However, the sleep process seems to have a greater impact on human brain activity in the areas of memory consolidation, and the creative areas of the brain. An adult reaches the REM stage of sleep every 90 minutes, but the function of REM is uncertain. What is certain is that without proper REM sleep the ability to learn and retain information is clearly impaired, according to scientific research into the subject.

Our society is sleep deprived. We live in an aura of artificial light that affects natural sleep cycles. As a result we keep strange hours. We suffer from jet lag, shift work, late night computer addictions, and any other of various factors that limit the time resting. Margaret Thatcher famously said, “Sleep is for wimps”. According to Foster and other neuroscientists, Thatcher couldn’t be more wrong.

So, what happens when we don’t get our 8 hours of proper sleep? Lack of sleep has a real nasty downside. For starters, things like mood change, stress, anger, impulsive actions, chemical dependence, lack of concentration, poor memory, and lack of creativity will result from sleep deprivation. Heart problems, obesity, and even mental health problems like bi-polar disorder, depression, and schizophrenia have been linked to lack of sleep. For a REALTOR® any one of these side-effects of the lack of sleep can really impair the ability to fulfill the job description.

On the other side of the coin, getting proper sleep will give you many of the attributes for a successful career. Sleep increases concentration, attention, decision making, creativity, social skills, maintaining a healthy weight, and overall cardiovascular health. A study conducted in 2007 by researchers Turner, Drummond and Brown showed that working memory was clearly reduced by 38% when one was sleep deprived. Another University of California psychiatry study of more than one million adults found that people who live the longest reported a regular sleep habit of 7 to 8 hours. Having good regular sleeping habits pay big dividends in health and effectiveness.

Some cultures have the accepted practice of taking an afternoon nap after lunch. Despite stereo types and social bias this is not a sign of laziness. In fact, studies have demonstrated that taking a short “power nap” actually helps in overall wellness. In fact, the “siesta” has been associated with a 37% reduction in heart disease.

The idea of the “power nap” is not new. Salvador Dali, the famous surrealist painter would often sleep in a chair while holding a spoon. When he went into the sleep phase, his hand would loosen, and the spoon would fall. The noise would awaken him, and he felt refreshed and ready to work again.

Recent studies have proven that short naps during the day can be as good for some types of memory tasks as a solid night of sleep. NASA has conducted numerous studies and research into the effects of sleep patterns as part of their interest in the effects of space travel. Their research has confirmed the importance of naps for memory, alertness, response time, and other cognitive skills. This is a far better outcome from a sleep deprived individual having his brain shut down into the phenomenon known as micro-sleep. Many industrial accidents and traffic tragedies have been caused by micro-sleep. We have all experienced the uncontrollable experience of micro-sleep during a boring lecture, an overly long sermon, or an early morning sales meeting. It’s that feeling when your eyes begin to close and your head slowly begins to drop despite your best efforts to engage your attention.

So, how do we create the atmosphere conducive to healthy sleep? Russell Foster suggests reducing exposure to light a good half an hour before sleep. Have a dark room with a slightly cool temperature, and don’t drink coffee after 3 pm.

Perhaps Brokerages should provide a quiet dark room for those that need a power nap in the mid-afternoon, and remove the stigma of short rest periods during office hours. It might provide as much benefit as an in-house gym, or café style office area. That being said, having a power nap during a quiet open house is not recommended practice!

The conclusion in all of this is; if you want to be your absolute best in the Real Estate business, and achieve greater success through capitalizing on your full potential, remember that quality sleep is a scientifically proven, valuable and important tool in achieving your goals. The plus side of developing and maintaining good sleep habits far out-weight the negative results of sleep deprivation, regardless of what our current social mores may be.

Writer and journalist, Tim Butcher once wrote, “Sleep is God. Go worship.”

Rest well!

Vancouver Housing Markets Cannot Fully Escape The Chinese Dragon

Robin Wiebe Senior Economist, Centre for Municipal Studies

The ebbs and flows of Chinese commerce have strongly affected housing markets around the Pacific Rim, including Vancouver’s. Although discussion of this relationship has focused on its recent behaviour, the bond stretches back much further. Moreover, casual observation and statistical tests both hint that China’s influence rivals that of three key domestic factors: Vancouver’s population growth, changes in its employment and Canadian mortgage interest rates. The chief implication is that observers need to pay attention to China’s economic health when assessing the outlook for Vancouver’s housing market.

Despite a decent local economy and favourable demographics, Vancouver’s housing market was relatively sluggish during the 1990s. Employment increased an average of 2.3 per cent annually and the population advanced 2.5 per cent per year, both solid figures. Nonetheless, the average resale price rose less than three per cent annually, ending the decade up 24 per cent. The market performed much better during the following ten years. Annual sales of existing homes exceeded 36,000 units, a previously-unheard-of volume, for five straight years between 2003 and 2007. The average transaction price doubled between 2000 and 2009 with a 20 per cent spurt in 2006 alone.

One obvious contributor to the market’s improvement was the big drop in mortgage interest costs. The posted rate for a five-year term mortgage declined from 13.2 per cent in 1990 to below 7 per cent in 1998, before edging up in 1999. Rates were generally lower and continued easing during the 2000’s. The five-year mortgage rate fell to an average of 5.1 per cent by 2009. Cheap financing clearly helped people buy homes.

But, Vancouver’s housing market performance can also be viewed through an Asian prism. The 1990’s started poorly for China, whose economy grew only 3.8 per cent in 1990, following a tepid 4.1 per cent advance in 1989. This represented a big shock since annual expansion had averaged roughly 12 per cent in the prior 5 years. The 1990’s also ended on a weak note, with an annual GDP growth of 7.8 per cent in 1998 and 7.6 per cent in 1999. The 2000’s were significantly better: annual Chinese GDP growth never dipped below 8 per cent.

Now the pendulum has swung again. Despite slightly faster growth in employment (2.1 per cent on average in 2010-12) and population (1.6 per cent), along with even lower mortgage interest rates, Vancouver resale volumes fell 23 per cent in 2012 and the average resale price dropped 6.4 per cent. One clue to this tepid performance is that China’s real GDP growth fell to a 12-year low, estimated at only 7.8 per cent, in 2012.

Statistical analysis confirms the importance of China’s economic health to Vancouver’s housing markets. Standard tests find significant correlations between the country’s real GDP growth and three important market yardsticks: existing home sales, existing home price growth and total housing starts. By contrast, local employment growth is significantly correlated to none of these and the five-year rate related to only the resale variables. This could mean that a substantial proportion of Vancouver real estate purchasers do not need local jobs to buy any home (new or existing) and that many do not need a mortgage to buy a new home. On the other hand, better economic health in China gives its residents wealth to spend on Vancouver housing.

This analysis suggests that Vancouver’s housing markets would perhaps welcome a pickup in Chinese GDP growth more than a rise in local employment and roughly as much as lower Canadian interest rates. If the Chinese economy is indeed improving, this could help rekindle both new and resale demand in the lower mainland.

Canadian and US Employment - January 4, 2013

On the heels of a surge in employment in November, Canadian employment posted a strong increase again in December, growing by 40,000 jobs. December's increase in jobs was entirely due to gains in full-time employment. The Canadian economy added just shy of 100,000 new jobs in the final two months of 2012, which pushed the national unemployment rate to 7.1 per cent, its lowest level in 4 years.

Job growth in the BC economy was essentially flat as an increase of 4,300 in full-time employment was mostly offset by declining part-time employment. The BC unemployment rate fell 0.3 points to finish the year at 6.5 per cent.  Despite some softness towards the end of the year, the story of the BC labour market in 2012 was overwhelmingly positive.  BC employment grew 1.7 per cent in 2012, a marked improvement from just 0.8 per cent in 2011, while annual growth in full-time employment was 2.8 per cent in 2012 compared with just 0.5 per cent in 2011. The provincial unemployment rate averaged 6.8 per cent in 2012, the first time in 4 years that unemployment fell below 7 per cent.

Finally, the US economy continued its slow and steady recovery, adding155,000 jobs in December following job growth of 161,000 in November. The US unemployment rate remained constant, finishing the year at 7.8 per cent.

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According to research, the three things that turn on our motivational drive are: Autonomy, Mastery, and Purpose. This is according to Daniel Pink in his book, Drive. Here is how he details these drivers:

Autonomy – Seek autonomy over some (or all) of the aspects of work. Lookf for the freedom to tackle projects in a way that you see fit rather than having to follow a strict procedure.

Mastery – Seek the passion to become better at something that matters to you.

• Create an environment where mastery is possible – to foster an environment of learning and development, four essentials are required – autonomy, clear goals, immediate feedback and Goldilocks tasks.

Purpose – take steps to fulfil your natural desire to contribute to a cause greater and more enduring than yourself

In the new year, let's try and find those areas where our passion for mastery can fuel our actions in a more proactive way. Also, let's try an find a purpose for contributions that is deep and meaningful for our greater goals.

1. If you have to choose between buying something or spending the money on a memorable experience, go with the experience. The things you own can’t make you as happy as the things you do.

2. First impressions are all about value. We’re all hardcore value processors even before “Hello” comes out of our mouths. The subjective evaluation we make when meeting someone new includes–to put it bluntly–what’s in it for us.

3. The “money illusion”—the tendency to allow the nominal value of money (amount of currency) to interfere with the real value (value of goods the money can buy)—is all in your head. Think about what you can buy with your bucks, not just how many you have in your wallet. Most of don’t process the effects of inflation.

4. Playing video games could be an unlikely cure for psychological trauma. Researchers at Oxford University hypothesized that playing Tetris after witnessing violence would sap some of the cognitive resources the brain would normally rely on to form memories. Memory research suggests that there’s about a 6-hour window immediately after witnessing trauma during which memory formation can be disrupted.

5. All of us spend time riding the moral self-regulation see saw. Feelings of negative self-worth can predispose us to acting morally in an effort to fill up the self-worth bank account. If the account is already full, we might be predisposed to choosing not to act morally, or just not act at all.

6. If you’re preparing for a specific challenge, make sure you prep for that challenge and not just ones like it. Title says it.

7. If someone is trying to sell you something, be extra careful to keep your psychological distance. People not emotionally engaged, were significantly better at identifying liars and thus were harder to fool with the old flim flam sales routine.

8. Turns out, saying you’re sorry really is important—and not just to you. Receiving an apology makes the recipient feel better by affecting his or her perception of the wrongdoer’s emotions. Knowing that the other person agrees that what he/she did was the wrong thing to do reaffirms our view of the world as just and predictable.

The REALTOR® Code

In my role as a Managing Broker, it is not unusual to hear complaints from agents about other agents acting “unethically”. On occasion I have to deal with members of the public expressing concerns about one of our associates acting in a manner which was considered unethical in their eyes. These allegations tend to stem from the complainant imputing motives on the actions of the agent. They interpret what they have experienced as unethical when the results of a transaction, or negotiation do not conform with their expectations nor provide for their well-being. The insinuation is that the agent manipulated circumstances into their own interest, rather than the interest of the client or customer. What comes into play is the subjective nature of our understanding of the ethical boundaries of our business.

Ethical behavior is described in the Dictionary as follows:

 eth·ics

1. ( used with a singular or plural verb ) a system of moral principles: the ethics of a culture.

2. the rules of conduct recognized in respect to a particular class of human actions or a particular group, culture, etc.: medical ethics; Christian ethics.

3. moral principles, as of an individual: His ethics forbade betrayal of a confidence.

4. ( usually used with a singular verb ) that branch of philosophy dealing with values relating to human conduct, with respect to the rightness and wrongness of certain actions and to the goodness and badness of the motives and ends of such actions.

Ethics are, in a nutshell, the often unwritten, but internalized, rules of conduct that allow for the well-being of others. While many maintain that it is the religious imprint of our current or past affiliations of faith that give us a moral compass, there is a growing understanding that we all have an innate sense of fairness and communal responsibility. This inborn awareness of what is fair has even been demonstrated in studies with primates that associate in groups.

We all have slightly different points of reference when it comes to acting fairly. Although the “golden rule” is a universal axiom, we are also influenced in what our ethical boundaries are through our upbringing, (including where we are in birth order comparative to our siblings), our cultural background, and our religious influences. Due to these variants in one’s personal experience, it is important to set an objective guideline to overcome the elastic nature of moral and ethical boundaries. The statement that there is “honour among thieves”, suggests that even within groups that might be seen as lacking in moral fibre, a certain ethical standard is upheld. One might be tempted to respond to an accusation of unethical behavior with a question of which standard is being referred to!

CREA developed a code of ethics in 1913 for the real estate industry with the specific reason of ensuring that a standard of conduct be adhered to. They created 28 guiding principles help to determine when someone is acting unethically. This code has a higher standard than the existing legal requirements in many cases. The local real estate boards have taken these guiding principles and applied them to their professional standards doctrines. Boards also appoint professional standards committees to police the actions of agents based on the rules of conduct built around the code of ethics.

CREA describes the code this way:

CREA’s REALTOR^® Code has been the measure of professionalism in organized real estate for over 40 years.

A REALTOR’s^® ethical obligations are based on moral integrity, competent service to clients and customers, and dedication to the interest and welfare of the public.

When someone complains about unethical behavior to me, I will step back and picture the scenario from every angle possible. In most cases, after getting the details, it becomes clear that the agent was not acting unethically but rather, outside circumstances conspired to create that impression to someone that didn’t have the full details. As the saying goes, “There is always at least two sides to every story”. It is a rare occasion that I have found a REALTOR® acting intentionally against the well-being of others. It is for those occasions that the REALTOR® Code becomes a valuable tool in organized real estate.

Understanding the 28 articles in the CREA Code of Ethics is invaluable toward building a solid reputation as a REALTOR®. It is the ethical standard that sets us apart.

 While Dale Carnegie may have been the God Father of the motivational book, Steven Covey was certainly this generation’s leading prophet, and one of the most influential writers in the genre. I can’t count the number of times that I have listened to “motivational” speakers and realize that they are simply regurgitating Covey’s concepts.

The great thing about Covey was his ability to take ideas and apply stories and thought pictures to help his audience understand how the idea is implemented into daily life. His seminal book, The 7 Habits of Highly Effective People, detailed a process with which to improve one’s business, attitude, and life in general. It was named the #1 most influential business book of the twentieth century.

Covey’s 7 habits of Highly Effective People are:

1.     Be Proactive

2.     Start with the end in mind

3.     Put first things first

4.     Think Win-Win

5.     Seek first the understand, then to be understood

6.     Synergize

7.     Sharpen the saw

These habits have been often mistakenly referred to as “Success Habits”. Covey was very careful to establish that these habits are meant for living a life that has an effective impact, not necessarily one that is traditionally measured as successful. Roles models that Covey felt reflected an effective life were people like Mother Theresa and Gandhi. Canadian heroes that embody his principles would include the likes of Terry Fox or Rick Hansen.

The principles that Covey outlined in his books were not original, but the way that he compiled examples and process was. He introduced scores of readers to people whose writings helped to shape his principles of life. People like Viktor Frankl were Covey favorites because they provided  key insights based on overcoming dramatic trials in real life.

Steven Covey’s website outlined his bio this way…

Recognized as one of Time magazine's 25 most influential Americans, Stephen R. Covey has dedicated his life to demonstrating how every person can truly control their destiny with profound, yet straightforward guidance. As an internationally respected leadership authority, family expert, teacher, organizational consultant, and author, his advice has given insight to millions.

Some of Stephen R. Covey's milestones:

• Over 20 million books sold (in 38 languages)
• The 7 Habits of Highly Effective People was named the #1 Most Influential Business Book of the Twentieth Century
• Authored four titles with sales exceeding one million copies each: First Things First , Principle-Centered Leadership, The 7 Habits of Highly Effective Families, and The 7 Habits of Highly Effective People
• Latest book, The 8th Habit , has sold nearly 400,000 copies
• International Man of Peace Award
• National Fatherhood Award (father of 9, grandfather of 44)
• Author of the best-selling nonfiction audio in history (The 7 Habits of Highly Effective People)
• No. 1 best-selling hardcover book on family (The 7 Habits of Highly Effective Families)
• MBA from Harvard, doctorate degree from Brigham Young University
• Board of directors for the Points of Light Foundations
• Co-founder and vice chairman of FranklinCovey, the leading global professional services firm with offices in 123 countries
• International Entrepreneur of the Year Award
• Awarded eight honorary doctorate degrees

In my career as a Broker, Steven Covey has been a compass to help steer decisions in the right direction, and navigate through difficult interactions. I haven’t always been diligent enough to follow his advice or to prioritize my life in the way that he advised in his time management books, but at least knowing what needs to be done takes one part of the way there.

Steven Covey may now be gone in the sense of the material world, but his writings and insights will remain. His works will continue to be my recommendation to anyone looking to better their life.

Ari Lahdekorpi

The number of residential property sales hit a 10-year low in Greater Vancouver for June, while prices remained relatively stable.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties reached 2,362 in June, a 27.6 per cent decline compared to the 3,262 sales in June 2011 and a 17.2 per cent decline compared to the 2,853 sales in May 2012.

June sales were the lowest total for the month in the region since 2000 and 32.2 per cent below the 10-year June sales average of 3,484.

“Overall conditions have trended in favour of buyers in our marketplace in recent months,” Eugen Klein, REBGV president said. “This means buyers are facing less competition and have more selection to choose from compared to earlier in the year.”

New listings for detached, attached and apartment properties in Greater Vancouver totalled 5,617 in June. This represents a 3 per cent decline compared to June 2011 when 5,793 properties were listed for sale on the MLS® and an 18.9 per cent decline compared to the 6,927 new listings reported in May 2012.

At 18,493, the total number of residential property listings on the MLS® increased 22 per cent from this time last year and increased 3.7 per cent compared to May 2012.

“Today, our sales-to-active-listings ratio sits at 13 per cent, which puts us in the lower end of a balanced market. This ratio has been declining in our market since March when it was 19 per cent,” Klein said.

The MLSLink® Housing Price Index (HPI) composite benchmark price for all residential properties in Greater Vancouver over the last 12 months has increased 1.7% and declined 0.7% compared to last month.

Sales of detached properties on the MLS® in June 2012 reached 921, a decrease of 37.4 per cent from the 1,471 detached sales recorded in June 2011, and a 19.1 per cent decrease from the 1,139 units sold in June 2010. The benchmark price for detached properties increased 3.3 per cent from June 2011 to $961,600.

Sales of apartment properties reached 1,026 in June 2012, a 19 per cent decrease compared to the 1,266 sales in June 2011, and a decrease of 18.4 per cent compared to the 1,258 sales in June 2010. The benchmark price of an apartment property increased 0.3 per cent from June 2011 to $376,200.

Now that the summer season is kicking off, it's time to get back in the grilling groove. According to the National Fire Protection Association, gas and charcoal grills cause more than 8,000 house fires each year. Before firing up the grill, homeowners should consider these safety tips:

Spring and summer are when yards and gardens retake their rightful places at the center of attention. This month, Pillar To Post takes a look at several steps that homeowners can take to make their outdoor spaces and their home live compatibly.