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Vancouver Off-Topic / Current Events The off-topic forum for Vancouver, funnies, non-auto centered discussions, WORK SAFE. While the rules are more relaxed here, there are still rules. Please refer to sticky thread in this forum.

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Old 03-11-2015, 03:57 PM   #3326
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I have nothing to add to the conversation.

Except I would like to just respond to this comment which is something I hear a lot of realtor's say. I've just never bothered to stop them and explain how their case isn't special at all really.

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Originally Posted by bing View Post
All realtors are covered by insurance and there are many fees to be a realtor that most people do not consider - taxes on earnings, Real Estate Board fees, deal fees, monthly desk fees ($260 at a mid-tier brokerage to as high as ~800 I heard for Re/Max), referral commissions, cheque fees, etc.
#1 - We all get taxed on earnings, even the dude at Mcdonalds. So what the fuck?

#2 - Insurance? Yeah I carry insurance as well, professional Liability, Errors and omissions, etc.

#3 - Board Fees - You pay board fees, I pay fees to the associations and designations that I am a part of as well. Everyone does, doctors, engineers, FRICS, PQS, PMP, etc. It's nothing special.

#4 - Deal fees? Oh you mean the overhead you have to pay to do business? Yeah I have to pay for lawyers to read over paperwork and stuff as well, I need documents notarized as well. Again Realty isn't that special, regular business' need this type of shit as well.

My point is that Realtor's seem to believe they are the only ones who have expenses, ask any working professional, or any business owner. Making money isn't cheap.
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Old 03-11-2015, 06:26 PM   #3327
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offtopic question:

does anyone know how someone like me could get access to closed deal figures around my neighbourhood WITHOUT consulting a realtor?
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Old 03-11-2015, 08:04 PM   #3328
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Old 03-11-2015, 09:42 PM   #3329
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Quote:
Originally Posted by hypediss View Post
offtopic question:

does anyone know how someone like me could get access to closed deal figures around my neighbourhood WITHOUT consulting a realtor?
BC Assessment currently has both sale and assessed values on their website available to the public for free. Otherwise, open a BCOnline account and pay $10 per assessment.
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Old 03-11-2015, 10:46 PM   #3330
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Is it bad practice to have multiple realtors working for me (as a buyer)?

I have three right now. Two for Coquitlam and one for Vancouver.
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Old 03-11-2015, 11:30 PM   #3331
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Is it bad practice to have multiple realtors working for me (as a buyer)?

I have three right now. Two for Coquitlam and one for Vancouver.

You have two in the same city ? What's the point? I'm guessing you haven't singed with any of them.
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Old 03-11-2015, 11:35 PM   #3332
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Originally Posted by meme405 View Post
I have nothing to add to the conversation.

Except I would like to just respond to this comment which is something I hear a lot of realtor's say. I've just never bothered to stop them and explain how their case isn't special at all really.
Quote:
#1 - We all get taxed on earnings, even the dude at Mcdonalds. So what the fuck?
McDonald's guy makes too little and gets all that money back at tax return time. If you really want me to bring that chart up again the bottom half of society pays little to no taxes at all.

Quote:
#2 - Insurance? Yeah I carry insurance as well, professional Liability, Errors and omissions, etc.
I don't.

Quote:
#3 - Board Fees - You pay board fees, I pay fees to the associations and designations that I am a part of as well. Everyone does, doctors, engineers, FRICS, PQS, PMP, etc. It's nothing special.
Only people considered professionals pay association fees. Most people have jobs, not careers.

Quote:
#4 - Deal fees? Oh you mean the overhead you have to pay to do business? Yeah I have to pay for lawyers to read over paperwork and stuff as well, I need documents notarized as well. Again Realty isn't that special, regular business' need this type of shit as well.
Yeah that's fine my point is that they do incur these expenses and the commission is used to cover these costs.

Quote:
My point is that Realtor's seem to believe they are the only ones who have expenses, ask any working professional, or any business owner. Making money isn't cheap.
You have to take the whole paragraph into account, not isolate one sentence and skip the most important part: that the housing market is skewed in Vancouver and everyone asks for a rebate of 25-50%. Then consider the fact that you may have to use the remaining commission to make the deal work and pay referral fees. Unless you are selling/buying a house, condos do not offer that much commission.
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Old 03-12-2015, 12:15 AM   #3333
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You have two in the same city ? What's the point? I'm guessing you haven't singed with any of them.
Sign what? I'm looking to buy.
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Old 03-12-2015, 08:28 AM   #3334
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Originally Posted by bing View Post

You have to take the whole paragraph into account, not isolate one sentence and skip the most important part: that the housing market is skewed in Vancouver and everyone asks for a rebate of 25-50%. Then consider the fact that you may have to use the remaining commission to make the deal work and pay referral fees. Unless you are selling/buying a house, condos do not offer that much commission.
It is of my opinion that the real estate industry has allowed many people with little real skills/education/knowledge to make obscene amount of money while doing relatively little work. Not only is it little work, it's work that does not really contribute much value.

The main reason for the commissions being so high is because they have a near monopoly on the industry and will do anything to protect it.

A lot of the practices used in the real estate industry would be deemed illegal and the individual would have their licenses revoked if this were say, the financial industry.
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Old 03-12-2015, 10:03 AM   #3335
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Sign what? I'm looking to buy.
Signed with (one) of the agents such that they are your exclusive agent into buying a place

E.g. exclusive buyer's broker agreement

If not, I guess good for you.
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Old 03-12-2015, 10:14 AM   #3336
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Quote:
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It is of my opinion that the real estate industry has allowed many people with little real skills/education/knowledge to make obscene amount of money while doing relatively little work. Not only is it little work, it's work that does not really contribute much value.

The main reason for the commissions being so high is because they have a near monopoly on the industry and will do anything to protect it.

A lot of the practices used in the real estate industry would be deemed illegal and the individual would have their licenses revoked if this were say, the financial industry.
I could say that of many industries. There are people who make over a hundred grand a year selling clothes at Harry Rosen or purely shoes at Holt Renfrew. Ya sure a lot of realtors make an obscene amount of money but a lot of people do so when their at the top of any industry. The average realtor makes enough to supplement their income but not enough to leave their other job. That's not too say that I don't think real estate commissions are too high past a certain price point but everything is negotiable.

How much education do you propose realtors have? professional sales as a field typically requires only a high school diploma but a lot of people have at least a bachelors. It is Vancouver after all.

Lots of industries have a monopoly. Do we need to discuss the banking cartel? OPEC nations? the "biggest scam" that is diamonds?

There are scumbags in any industry. I don't think the financial services industry is any better.
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Old 03-12-2015, 03:02 PM   #3337
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Lots of industries have a monopoly. Do we need to discuss the banking cartel? OPEC nations? the "biggest scam" that is diamonds?
I do work with De Beers, I'll limit my exposure here.

But I will say that Diamonds are intrinsically worthless. They are absolutely USELESS, the only reason they have value is because you people seem to think they have value.
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Old 03-12-2015, 03:05 PM   #3338
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Quote:
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I do work with De Beers, I'll limit my exposure here.

But I will say that Diamonds are intrinsically worthless. They are absolutely USELESS, the only reason they have value is because you people seem to think they have value.

Every Jewish girl I have dated has said this. They don't want diamonds, they want gold!
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Old 03-12-2015, 03:05 PM   #3339
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I do work with De Beers, I'll limit my exposure here.

But I will say that Diamonds are intrinsically worthless. They are absolutely USELESS, the only reason they have value is because you people seem to think they have value.
This sounds like a RS hookup to me!

Hook up some diamonds, bruh. The RS population is getting old and engagement rings are going to be needed.
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Old 03-12-2015, 03:09 PM   #3340
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This sounds like a RS hookup to me!

Hook up some diamonds, bruh. The RS population is getting old and engagement rings are going to be needed.
You wouldn't believe the security they have at their facilities. You get searched going in and out.

The depths they go to ensure you aren't sneaking diamonds out of their facilities are insane. It makes most airport security screenings look like amateur hour at your local rodeo.
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Old 03-12-2015, 03:11 PM   #3341
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This sounds like a RS hookup to me!

Hook up some diamonds, bruh. The RS population is getting old and engagement rings are going to be needed.
Diamonds are over-rated (esp those from De Beers). Just get your girl a CZ (cubic zirconia) and call it a day.
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Old 03-12-2015, 03:49 PM   #3342
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Every Jewish girl I have dated has said this. They don't want diamonds, they want gold!


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Old 03-12-2015, 03:51 PM   #3343
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i wish i had smartened up before buying my wife her engagement ring but the "old school" in me won....should have just bought her a single plain band and used the money on my house
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Old 03-12-2015, 09:36 PM   #3344
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You wouldn't believe the security they have at their facilities. You get searched going in and out.

The depths they go to ensure you aren't sneaking diamonds out of their facilities are insane. It makes most airport security screenings look like amateur hour at your local rodeo.


I wasn't saying steal it or have it fall off a truck.

Employee discount, bruh!
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Old 03-12-2015, 10:33 PM   #3345
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I do work with De Beers, I'll limit my exposure here.

But I will say that Diamonds are intrinsically worthless. They are absolutely USELESS, the only reason they have value is because you people seem to think they have value.
That's a lie. They make great sandpaper.
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Old 03-12-2015, 11:01 PM   #3346
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Signed with (one) of the agents such that they are your exclusive agent into buying a place

E.g. exclusive buyer's broker agreement

If not, I guess good for you.


One is a realtor we met at an open house. The other two are referrals/friends.

None of them asked for any signed documents. Why would they? I don't sign anything with a car salesperson or any sales. Or is this common RE practice?
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Old 03-16-2015, 05:30 PM   #3347
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So how's everyone doing in the real estate market these days? Everyone moved back to Vancouver?

I was bored so I skimmed the 2014 conversations to see all our predictions. The prediction that the CAD will tank came true along with commodities. No one here saw the rate cut coming though. What I've noticed is that condo's are pretty flat or in some cases declined in price. Single family detached is still hot though. What's interesting is that people are taking out sub-prime loans to pay for a downpayment these days. Along with the 96month car loans. Yikes!
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Old 03-16-2015, 10:35 PM   #3348
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Is there a way to find out when there are open houses in a given neighbourhood without having to click on each MLS ad?
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Old 03-16-2015, 10:55 PM   #3349
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One is a realtor we met at an open house. The other two are referrals/friends.

None of them asked for any signed documents. Why would they? I don't sign anything with a car salesperson or any sales. Or is this common RE practice?
A lot do because they want to get the commission rather than them showing the house and you buying the house using the other Realtor
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Old 03-16-2015, 11:08 PM   #3350
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Is there a way to find out when there are open houses in a given neighbourhood without having to click on each MLS ad?
Click on the "open houses" only radio button when searching (on the bottom right corner of the search options)

You get the most #s of open houses as it nears the weekends.
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