November 5-11, 2013, the JNBS Toronto Representative Office hosts JN Canada Real Estate Week, with Developers and Realtors from Jamaica up in Canada, allowing Canadians better access to real estate opportunities in Jamaica. ByBlacks interviewed Chief Representative Officer, Jerrold Johnson about the seminars.
There seems to be a huge focus on purchasing Real Estate in Jamaica, why is that?
There are opportunities for Canadians to purchase Real Estate in Jamaica for a few reasons:
- The devaluation of the Jamaican dollar has stretched the power of the Canadian dollar.
- The desire for people to own rental property and rent to vacationers and Jamaicans.
- The new housing demand is high at about 15,000 new units a year, and currently, they are only creating 5-6,000 new homes per year.
Although the Jamaican economy is not performing well, prices are staying high because of this shortage of supply.
Whats the difference between JNBS and your competitor's seminars?
The thing about our seminars is that we are not selling mortgages. We know lots of people want to own a home on the rock, and we want to give them the information to prepare them to purchase theirs.
In the seminars we talk about financial planning, because we want people to be financially strong here in Canada as well. We’re looking at the whole picture.
We partnered with Score Up - an organization that helps people to improve their credit score and educate people on the credit system here in Canada.
Jamaican attorneys are also some of our presenters that can advise prospective buyers on the transaction process and paperwork required in Jamaica. It’s a much longer cycle than Canada. JNBS also vets our lawyers that we partner with, and advise them on the maximum they can charge our clients that we refer to them. This ensures that people don’t get any surprises on legal fees.
We are excited about the developers coming as well. There is a JNBS standard to qualify them to be a JNBS partner. There are certain advantages and savings that our clients enjoy from purchasing from these approved developers.
We have 8 partners coming up for this trip, and we expect that once they return to Jamaica and let the others there know what to expect, that number should jump to over 20 the next time we do these seminars.
Are the developers presenting as well?
They will basically have their projects on display, and will speak to the people about their developments, which will allow attendees to interface with them directly. They also have a short 15-minute presentation at the expo.
On the Realtor side there are two companies being represented from Jamaica.
Coldwell Bankers & Century 21.
Debra Cummings, who is regarded as one of the top Realtors in Jamaica will be making a high powered presentation on the state of Real Estate in Jamaica.
She is one of the foremost agents in Jamaica with over 18 years experience in the industry, so we were glad to get her on board.
How many people are you expecting to attend the seminars?
In total over 1 thousand over the 5 events, we anticipate that the Mississauga expo on the weekend will draw at least 600 people over the 2 days, based on the advertising we have done in the media.
Are these seminars then only for Jamaicans?
We have been trying to come out of the box to market to non-Jamaicans. So don't be surprised if when you attend the seminars there are a lot of non-Jamaicans there.
How can people connect with you?
Via email me at Jerrold (at) jnbs.com, or by calling the Toronto Rep Office at 416.784.9657.