Latest Market Update - February 6th 2025

Is an emergency rate cut by the Bank of Canada coming soon?

In recent months, Canada has experienced a notable decline in interest rates, a trend driven by various economic factors and policy decisions. The Bank of Canada has implemented several rate cuts to stimulate economic growth amid challenges such as potential trade conflicts and global economic uncertainties.

Last week the Bank of Canada reduced its key policy interest rate again by 25 basis points, bringing it down to 3%.   The Canadian economy has shown mixed signals in response to these rate adjustments, but overall, economic growth challenges remain.    

Variable rate mortgages have benefited from the fall in rates, but fixed mortgage rates have not changed much since last October. 

Alternative lending rates have also fallen in recent months, and 2nd mortgage rates are now being offered under 9%.   Don’t be stuck with unpaid bills.  Our processes to get you the money you need have never been easier.  


Great rates are now being offered by major lenders:

  • 5 years fixed as low as 4.89% 

  • Variable rates as low as 4.20%


Did you know

The Bank rate back in June was 5% compared to 3% today and that variable rate mortgage borrowers are now saving on average $120 per month per $100k borrowed. 

Latest Market Update - January 7 2025

A New Year Brings a New Tax

The BC NDP government has introduced a Home Flipping Tax effective January 1, 2025. This provincial tax is distinct from the existing federal home flipping tax and is unlikely to significantly address housing affordability. Unfortunately, this policy may inadvertently deter housing transactions, further tightening supply in an already constrained market.

The details: 

  • The tax applies to income from sales of residential properties, presale contracts, or assignments owned for less than 730 days (two years). This includes properties bought before January 1, 2025, if they are sold on or after that date and owned for less than two years.  

  • The rate is 20 per cent for sales within the first 365 days of ownership, gradually decreasing until it is eliminated at 730 days.  

  • This tax applies to any person or entity (individual, corporation, partnership, or trust) selling property within BC, regardless of residency.  

Exemptions if available are subject to specific conditions and filing requirements.  

Did you know: 

Most monthly mortgage payments today are now on average 25% lower than they were 1 year ago

Latest Market Update - December 12 2024

Just in Time for the Holidays

The Bank of Canada has dropped interest rates by another 50 basis points, marking the fifth consecutive cut since June 5th. With inflation growth easing and the economy continuing to struggle, speculation is already building for another rate reduction during the next announcement on January 29.

Falling rates are having a noticeable impact on the real estate market. In Greater Vancouver, home sales surged by 28% last month compared to the same time last year, following a 30% increase the month prior.

Adding momentum to this trend, new mortgage lending rules coming into effect on December 15 will allow homebuyers to purchase with as little as an 8.5% down payment and extended amortization periods of up to 30 years. Combined with increased competition among banks, some 3-year fixed mortgage rates are now as low as 3.99%.

For those looking to borrow smaller amounts, we love helping with second mortgages. Rates have dropped to as low as 9.49%, and you can access up to 85% of your home’s equity.

Wishing you all a joyful holiday season and a fantastic 2025!

Latest Market Update - November 14th 2024

Are Buyers Finally Responding to Rate Cuts?

Real estate sales in Canada’s largest markets surged in October as buyers jumped at the opportunity to purchase homes following recent interest rate cuts. While this uptick is positive news for Canada’s struggling real estate market, one month of growth doesn’t establish a lasting trend. The Bank of Canada is expected to reduce rates again on December 11, just in time for the holiday season, potentially introducing a significant cut that could drive variable mortgage rates to their lowest levels in years.

Meanwhile, average rents in Canada declined for the first time since 2021. According to recent data from Rentals.ca and Urbanation:

Average monthly rents dropped by 1.2% in October 2023, now standing at $2,152.

However, record-high consumer and business insolvencies paint a concerning picture of financial strain affecting households and businesses nationwide.

This financial stress may intensify next year as economic growth slows and many mortgages are renewed at higher rates.

Mortgage rates remain competitive, with some lenders offering fixed rates as low as 4.39% and variable rates as low as 4.95%. If you need financial assistance, please don’t hesitate to reach out.

Latest Market Update - October 19th 2024

Is Now The Time To Buy Or Refinance Your Mortgage?

Mortgage rates are expected to fall again next week as the Bank of Canada is getting ready to announce rates on Oct 23 and are expected to drop the rate by 50 basis points.  This will have the biggest impact on Variable mortgage rates, and we should see these rates under 5% very soon.  

The Greater Vancouver Real Estate market has been a soft market for the past months, but this may all be changing.   Sales of Detached homes appear to be accelerating this month.  This may be the ideal opportunity for people to buy at the bottom before prices rise.    Remember; don’t wait to buy but rather buy and wait.   Fraser Valley and other areas of the Province continue to be soft, but this may also change as we get into next year.  

Did you know: BC’s Property Transfer Tax was launched in 1987 as a “luxury tax” and intended to apply to only five per cent of real estate transactions.  This tax has changed significantly over the decades and is now a viable source of Government revenue. 

The 5-year fixed rate for Insured mortgages is now being offered under 4%! . Contact Tony to learn more.

Latest Market Update - October 8th 2024

Deputy Prime Minister Announces New Actions To Build Secondary Suites And Unlock Vacant Lands

On October 8, 2024, the Deputy Prime Minister and Minister of Finance Chrystia Freeland, alongside other government officials made a number of new action announcements. These initiatives are designed to unlock underused properties and make it easier for homeowners to add secondary suites to their homes, ultimately contributing to the federal goal of building 4 million homes.

1. Mortgage Refinancing for Secondary Suites: Starting January 15, 2025, homeowners will have the opportunity to refinance their insured mortgages to finance the construction of secondary suites. Key details include:

  • Access to Equity: Homeowners can access up to 90% of their home’s value, including the value added by the new secondary suite(s).

  • Longer Amortization Period: The refinanced mortgage can be amortized over a period of up to 30 years.

  • Increased Price Limit: The mortgage insurance home price limit will increase to $2 million for those refinancing to build a secondary suite, ensuring broader access across various housing markets.

This reform aims to promote greater housing density, support homeowners with additional rental income, and enhance community living options.

2. Consultations on Taxation of Vacant Land
The federal government is launching consultations regarding the taxation of vacant land. This initiative seeks feedback from provinces, territories, and municipalities interested in implementing their own vacant land taxes. The goal is to encourage landowners to utilize their properties effectively, ultimately leading to more housing developments.

3. Unlocking Underused Federal Properties
An additional 14 federal properties have been identified as suitable for housing development, bringing the total to 70 underused federal properties available through the Canada Public Land Bank. This initiative is part of the federal government’s commitment to unlocking land for new housing, aiming to support the construction of 250,000 new homes.

The federal government is committed to its goal of building 4 million homes by leveraging all available resources and strategies. These recent announcements represent significant steps towards maximizing land use in our communities and addressing the housing affordability crisis.

Latest Market Update - September 25th 2024

Breaking News - Mortgage Renewal Changes

Canada’s banking regulator is set to eliminate the need for the banks to apply the stress test when you are simply switching mortgage lenders at renewal.  This will be very positive for borrowers looking to obtain a better rate and payment then what is being offered by your existing lender.   Creating a more competitive environment will result in you being able to get better deal upon renewal.  

 

Rate Wars are starting, and lenders are offering special rates:

  • 3 year fixed as low as 4.49%

  • Variable rate mortgages as low as Prime – 1.05%

  • 2nd mortgage rate as low as 8.90%

 

OPEN HOUSE:   2496 Jonquil Court, Abbotsford, on Sunday, September 29th, from 1:00 pm to 3:00 pm. 

Latest Market Update - September 16th 2024

Breaking News

The Federal Government announced that starting on Dec. 15, the cap for insured mortgages will rise to $1.5 million from the existing $1 million. This will allow buyers to qualify for larger mortgages without putting 20 percent down payment.   The government is also allowing insured mortgages up to 30-year amortization. 

Very positive news for the real estate market and the new rules will have the largest impact on homes priced between $1 and $1.5 Million.  

Did you know:

Faster, smoother travel will soon be coming to Langley, Abbotsford, and Chilliwack with the Fraser Valley corridor improvements.  

IF you have questions, I can help!
Contact Tony today

Latest Market Update - September 2024

The Bank Continues to Lower Rates

This week the Bank of Canada dropped interest rates again making this the bank’s third consecutive cut.  More drops are expected this Fall, and this is a welcomed relief for many homeowners.   The constrained economic growth, weakening labour market and softening inflation; is allowing the Bank to finally begin an easing cycle.   Before we get too excited though; the favourable impact of falling interest rates and inflation will take some time to spill into your bank accounts.  In the meantime, there is likely more pain to be felt for many borrowers.  

The real estate market for the most part has been soft with Greater Vancouver home sales falling 17% last month.   With the easing interest rates improving home affordability, we may be at the bottom of the market.  You know the saying; ‘don’t wait to buy but buy and wait’.  

Mortgage rates fall and the mortgage rate wars are beginning.  The 5-year fixed can now be offer as low as 4.44% and a variable rate at Prime -.80%.  

Private/Alternative mortgage rates have also moved lower, with 2nd Mortgages being offered under 10%.  

Did you know:  

Credit delinquencies are on the rise as Canadians’ debt climbed to $2.5 trillion in the second quarter of 2024.  According to Equifax Canada credit card holders are carrying an average balance of over $4,300.    

Need money to get rid of high credit card balances; no problem the solutions are available.  Click her to email me. 

Latest Market Update - June 2024

Bank of Canada Lowers Rate

All eyes were on the Bank of Canada Wednesday when as expected they lowered the bank rate by 25 basis points.  No doubt this is great news that many borrowers have been waiting to hear.  But what happens now?  When rates change; the overall affect usually lags, and it may take some time to feel the impact of lower rates.   But nonetheless, it’s very positive and a comforting relief for borrowers especially those with variable rate mortgages.

The real estate market is showing some weakness and last month’s data was much softer than expected.   There are a few locations that are an exception, but overall inventory has increased substantially, sale volumes have dropped, and prices have been softening.  That being said, average prices are higher than the same period last year and higher than last month.  

The drop in the bank rate should be very positive for the Real Estate market.  Many buyers have been waiting to see the direction of interest rates before taking on a home purchase.  Mortgage rates have softened, and 5-year fixed rates can be offered as low as 4.99%; Variable rate mortgages as low as 6.60%.  Given all of this, the best time to buy a detached house may be right now.

Need money and the bank said no?  Turn that:

“‘Sorry, I can’t make the numbers work’
to: ‘no problem, how much do you need?’. ”

Latest Market Update - April 2024

Housing and Affordability

Good news for Canada’s latest inflation figures announced on Tuesday.  We saw a modest improvement over last month.  Most of the improvement was with our ‘core’ inflation which strips out the more volatile components.  Interest rates are expected to ease as soon as the next Bank of Canada’s announcement in June.   Our inflation has been moderating but housing affordability, not so much.   And it’s a hot topic.  So hot in fact that all levels of government seem to be taking some sort of action and the latest action on housing coming from our Federal Government’s budget. 

Some highlights are as follows:

  • Extending amortization for Insured mortgages to 30 years.

  • Increased limits on withdrawing/using RRSPs for downpayment for first-time buyers.

  • Introduction of a Canadian Renter’s bill of Rights.

  • Provide more Federal land for housing developments.

  • Increased capital gains tax.

  • Increased spending to get homes built.

 

The probability of lower borrowing rates here in Canada is looking good, but this is not the case in the US.  Their economy appears to be exceptionally resilient, and the Federal Reserve will be reluctant to drop rates as quickly as we do.  This has been reflected in the Bond markets, which has an effect on our mortgage lending rates.  This will likely keep our fixed rates higher for longer.  The good news though is that lenders are getting very competitive, and we are seeing some great rate deals with some fixed-term rates being offered under 5%.  

Have questions? I can help. Contact Tony today.

Latest Market Update - An Active Start To Spring 2024

An Active Start To Spring 2024

We are off to a very active Spring real estate market.  Beyond seasonal trends, the expectation of lower interest rates seems to have excited the market.   We are experiencing strong sales, an increase in new listings, and rising prices. 

The Federal Government is expected to introduce some housing initiatives in its budget next month, but in the meantime, the BC Government has been the first to act.   The BC NDP has introduced a new framework to the Property Transfer tax with an increase in the Fair Market Value threshold for First Time Homebuyers and an increase in the Fair Market Value threshold for Newly Built Homes.  This will help First Time Homebuyers reduce or eliminate the cost of PTT.   Please contact me if you would like more details.  

The BC Government has also introduced a new Flipping Tax targeting short-term speculators. This will punish anyone selling a residential property that has been held for less than two years.   Some pundits believe this will constrict inventory levels and put added pressure on prices. 

If you planning to sell your home; your curb appeal and outdoor living space cannot be ignored.   Consider updating your landscaping and hardscapes.  Great-looking, useful, and maintenance-free landscaping is the new trend. 

Looking for inspiration for your next landscaping project? Check out a few of the images from our friends at Luxury Enterprises Ltd that are sure to inspire your next project. Their services range from landscaping to hardscaping, artificial grass to concrete as well as irrigation system installation.

February 23 2024 - Latest Market Update

Inflation Rate Falls

Last month’s rate of inflation surprised the markets with a decrease from the month earlier and it now sits in the Bank of Canada’s target range.  This is providing added support for the Bank of Canada to begin lowering interest rates by late Spring.   Mortgage payment relief for many is now in sight. 

The inflation rate wasn’t the only thing that fell.   Alternate lending mortgage rates also have declined and are down on average 50 basis points.   Prime rate mortgage rates have been stable and there are some very good deals now being offered with a 5-year fixed rate below 5%; however, most borrowers should expect between 5% and 5.60% depending on the lender and the type of deal. 

All of this is boding well for a very good Spring real estate market.  Month-to-date sale volumes are looking strong, new listings are moderate and prices continue to push higher. 

 

Need financing and the bank says no; then contact me.  I have a solution to every financial challenge. 

 

Alternative lending deals:  approval within hours

  • 1st mortgages up to 75% financing with rates as low as 9.95%.  Fully open.

  • 1st mortgages up to 50% financing with rates as low as 7.99%.  Fixed term rate.

  • 1st mortgages up to 75% financing with rates as low as 9.95%.  Fully open.

  • 1st mortgages up to 50% financing with rates as low as 7.99%.  Fixed term rate.

 

Prime lending deals: approval within 24 hours

1st mortgage up to 80%:

  • 3-year fixed as low as 5.49%

  • 1-year fixed as low as 6.99%

  • 5-year fixed as low as 5.29%

  • 2-year fixed as low as 6.39%

It’s easy and quick to apply

January 30 2024 - Latest Market Update

Is Now the Time to Refinance Your Mortgage?

If you’re struggling with too many monthly payments and have multiple debts that you would like to consolidate under a single interest rate, refinancing your mortgage or accessing your home equity may be a good option to consider. And it couldn’t be easier.

Fast, Simple, Truthful

Our experts at Mortgage Matters closely monitor the latest market trends and economic conditions that impact interest rates and the housing sector. The Bank of Canada maintained it’s interest rate at 5% last week and is forecasting weaker Economic growth over the next few years.  With growth slowing and inflation gradually easing, we stay up-to-date on how these trends may present opportunities for refinancing or adjusting your mortgage strategy.

In our current environment, many banks are enticing clients to refinance under terms that may not be ideal. Our market expertise allows us to present you with the best options tailored to your financial goals and the current economic landscape.

At Mortgage Matters we pride ourselves on advice that’s simple and practical, making the process easy for you to understand. With years of experience and partnerships across the mortgage sector, we can help determine if now is the right time for you to refinance or adjust your approach.

 

  • APPROVAL in less than 24 hours

  • QUICK Funding

  • REDUCED fees

  • 2nd mortgages up to 85%

To determine your best mortgage refinancing options, contact us today.

Did you know: That the population of Surrey is expected to surpass Vancouver within 5 years?

January 2024 - Latest Market Update

Great news to start the New Year

Mortgage rates have recently eased, and the interest rates overall are expected to fall throughout 2024.  This is comforting news for the mortgage borrowers facing a renewal later in the year.  Easing mortgage rates may be good news for homeowners, but not so much for those looking to make a home purchase.  

“Metro Vancouver’s housing market closed out 2023 with balanced market conditions, but the year-end totals mask a story of surprising resilience in the face of the highest borrowing costs seen in over a decade. ”
— From the latest REBGV stats
 

It has been many months since a 5-year fixed rate mortgage has been under 5%.  Lower mortgage rates will likely push real estate prices higher and not improve affordability.    Beyond the season changes, Inventory levels of available homes for sale are also falling.  It’s one of the primary reasons we escaped a market correction last year.  Bottom line; if you are considering buying a home, do it quickly.  

Need to get access to some of your home’s equity and you don’t want it to affect the great rate on your existing mortgage, then consider a 2nd mortgage.  You can be approved in less than 24 hours and many lenders are offering special incentives and quick funding options.  

November 2023 - Latest Market Update

Is It Downhill For Mortgage Rates?

The decades of high-interest rates have done the job. The impact of the higher rates is finally working to ease inflation.  The US, UK, and Canada to name a few are reporting easing inflation numbers and are now starting to be challenged with economic growth.   The consensus view of the Economists surveyed by Bloomberg last month predicts that rates in general will be 40% lower by no later than mid-2025.  

These economists also highlight concern over Canada’s looming wall of mortgage renewals upcoming over the next years.  There will be hundreds of billions in mortgages renewing at much higher interest rates which will, without any doubt have an impact on the Canadian economy.

Is your mortgage maturing soon?  Contact me before you lock into a high rate.

Did You Know?

The BC government has come out with new legislation intended to improve the zoning rules and allow townhomes, triplexes and laneway homes, on single-family lots – effective June 2024. In municipalities with more than 5,000 people, the new rules will allow for the following:

  • Three units on single- or two-family lots less than 280 square metres (about 3,010 square feet)

  • Four units on single- or two-family lots greater than 280 sq. m.

  • Six units on lots greater than 280 sq. m. near “transit stops with frequent service”

Century 21 In Town Realty has announce a partnership with:

Our clients can now receive complimentary junk removal with every listing.

Click her for more details.

Improved mortgage solutions: 

  • Common sense approvals with lenders that think outside the box and can get you prime rates. 

  • A ‘No monthly payment’ options. 

  • You can access your home equity of up to 85% of appraised value. 

  • Quick approval – often within a few hours.

  • Improved rates and fees.

 

October 2023 - Latest Market Update

High Interest rates make for a balanced market.

The high interest rates are having an impact, and the housing market is feeling it.  From the latest REBGV monthly stats: “The month-over-month price gains seen earlier this year abated in the Metro Vancouver housing market in September due to a seasonal decline in sales and a modest increase in inventory levels across the region.”

Locally, home prices have remained quite resilient but as long as rates remain high, there will be downward pressure on prices.  These interest rate pressures were very apparent in two Canadian Cities last month.  Sales in Toronto were down very significantly but compared to Calgary their sales were at record highs. Vancouver has avoided a downturn and there are now indications that interest rates may have reached their peak – can you imagine what happens to housing values when rates start easing! There’s a saying I like: ‘buy when everyone is selling and sell when everyone is buying’.  

Banks have also felt the impact of higher rates.  Mortgage volumes are down significantly and many of the banks are already beginning to explore ways to make up for the falling revenue.  I’m not sure if there has ever been a more challenging time to borrow money from a bank.     

We can help and here are some NEW solutions:

  • Common sense approvals with lenders that think outside the box and can get you prime rates. 

  • A ‘No monthly payment’ options. 

  • You can access your home equity of up to 85% of appraised value.

  • Quick approval – often within a few hours. 

  • Improved rates and fees.

Did You Know?

In BC: About 3,000 eligible homeowners will be offered forgivable loans of up to $40,000 to help pay for construction costs for basement suites, garden suites or laneway homes on their property.   We have plenty of lenders that can help you finance this type of project.   

Want to learn more? Contact Tony today.

August 2023 - Latest Market Update

The Summer Sizzle

Mortgage rates have increased to a new summer high since the last rate increase by the Bank of Canada last month.   Where do we go from here?  The consensus is that the economy will begin a slow down and the rate increases will stop, and the interest rates will begin to fall.  This is certainly possible but maybe the bigger question is when will this happen?  The answer to that is even more difficult given our Country’s population boom.  I may not be confident about the timing, but I’m confident that the Bank of Canada will be reluctant to drop rates too quickly.   I believe the best we should expect to see is rates beginning to ease next Spring.  

Many borrowers are being turned away from the banks.  Don’t let the bank be your final answer.   There are options available to help whether you are refinancing, renewing or just need money.    

  • 35 year amortizations can be offered.  This helps keep your payment low especially if you were not prepared for the higher rates upon a renewal. 

  • Private 2nd mortgages.  This helps raise funds you may need and may allow you to maintain the low rate on your 1st Mortgage. 

  • Private 1st mortgages.  This can be a great short-term solution and rates will very depending on equity position.

  • Vendor Take-Back Mortgages.  This may be an ideal for sellers looking to earn a steady stream of monthly income secured against the home you sold.  

Private Mortgage Rate Sale:

Current blocks of funds from recent payouts looking for a new home:

  • $125,000 as low as 9.95% (up to 70% equity)

  • $300,000 as low as 11.95% (Up to 80% equity)

  • $150,000 as low as 13.95% (Up to 85% equity)

RECENTLY SOLD AND IS NOW ONE OF THE MOST EXPENSIVE HOMES EVER SOLD IN NORTH DELTA:
11932 CLARK DR, DELTA

June 2023 - Latest Market Update

40 Million and Growing

The Canadian population hit the 40-million-mark last week and the Real Estate crash many were expected has so far this year has been avoided.  Economists predict that Canada will need 3.5 million additional housing units by 2030 to restore affordability.  While the housing growth has not kept pace the high interest rates have had an unexpected affect on Real Estate.   New listings across the Country have been falling; reducing the supply.  It has been said that the high mortgage rates have been a deterrent to homeowners’ listing their homes for sale.  This combined with increased demand has driven prices higher, which of course has worsened affordability.  This doesn’t mean selling in today’s market is easy.   Homes that are well priced and well marketed are selling successfully.  Being in the industry for as long as I have, I’ve seen it all – the good and the bad.   It's not the glitz that gets home sold successfully, but rather smart practices and good advice. 

Mortgage rates stay elevated. If your mortgage is up for renewal, you will likely be surprised by the rates being offered and the increase of the new payment.  In some cases, borrowers could see an increase of up to 80%.   Many economists worry about the impact to borrowers especially by 2025 when many borrowers will have their mortgage due for renewal from the time they locked into very low rates during covid.   Don’t wait to be shocked.  Act now and explore your options by contacting me. 

  • Fixed rates vary from 4.90% to 6.05%.

  • Variable rates range from 6.20% to 6.80%

  • The prime lending rate is 6.95%


Don’t be stuck for money.  Private lenders are looking to get you money and often you can access up to 85% of the equity in your home.

February 2023 - Latest Market Update

Making 2023 your most prosperous year yet

In the Chinese culture, 2023 is considered the year of the Rabbit.  The sign of Rabbit is a symbol of longevity, peace, and prosperity in Chinese culture, and it is not the year to take wild risks but rather to focus on building a solid financial foundation. To make 2023 one of your most prosperous years, I believe it’s important to have a solid plan.  

Interest rates and inflation are the highest it’s been in decades. The stock markets are volatile and real estate sales have slumped.  Although sales are below historical averages, inventory levels remain very low and homes that are well priced are selling very successfully.  When it comes to selling your home, some little things can make a huge difference.    

Here’s just a few tips to maximize your sale price:

  1. Ensure your listing is launched with photos.   Photos evoke emotion and when they are not available at the time of the launching the listing, buyers can move on to other opportunities. 

  2. When you can avoid having your realtor use a Lockbox.  They are paid to sell your home so make sure they make effort to be present at all showings to showcase, answer buyers’ questions and sell your home for maximum dollars.

  3. Do not allow your realtor to use other realtors to host your Open House.  No one knows your home better and cares more than your listing agent.  Features that make your home unique can be overlooked. 

Mortgage rates have begun to ease, and we are starting to see some great deals on mortgage rates.  Five-year fixed rates are being offered as lows as 4.89% and variable rates as low as 5.50%.  When it comes to refinancing or renewing your mortgage consider the following:

  1. Banks are not always the best option for a mortgage.  Credit Unions do not need to follow the qualification criteria that banks must follow, and this may not only save you thousands of dollars in interest, but it may also make a huge difference in what type of home you can purchase. 

  2. Credit reporting agencies have changed how they determine your credit scores.  Avoid utilizing credit cards as it has a negative impact on your score.  A high credit score usually gets you a better rate. 

  3. Rather than refinancing your existing mortgage that may have an attractive interest rate, consider a 2nd mortgage, and then refinance in the future to combine the mortgages when rates are more attractive. This could possibly save you thousands in interest. 

 

 

Let me show you how I can help, contact me today.

Get Started Today! Complete the sellers evaluation form