PM'd you, don't really want to post my address up everywhere lol

This might seem a bit unfair but more realtors don't like to deal with 1%. I mean the commission is so slim is just not worth it and then you also have to share that 1% commission with the seller's agent and then with your company etc etc. Let's say the house is on sale for 1.4m so commission is 14000 let's say is 50-50 (which never happens). So the buyer agent gets 7k and then have to share with the company he works. He will be lucky if he can get 5k from it. Again is almost never 50 50.

Also from a friend who is a realtor as she puts it that most of the 1% real estate agent doesn't know their ass from their mouth so she refuse to work with them. Could be true or not.

Most full commish agents i've met are no better or worse than 1% agents in terms of knowledge. They get licensed at the same place, read the same books, and go to the same courses. Almost every agent I've ever met have this, i went to UBC Sauder and I close deals because i'm that good type of attitude.

During the peak in 2016, i couldn't get a single agent to put an offer down for me on a few places. The only way i ended up buying a place was working the sellers agent to double end the deal which ended up screwing over the seller.

I despise real estate agents just as much as lawyers... /endrant

True but 50% of a small commission is better then nothing of a larger commission when I fire them for not setting up a viewing of a home I want to see. I understand the logic why they'd prefer to get paid more but at the end of the day as I buyer I don't care if it's 1%, Remax or whatever.

real estate commissions in the lower mainland area completely out of wack.

sure 10 years ago they may have made some sense what a really nice house was a $1M but now when every house is that price or more and they do even less work, screw off

i put my house up 4 years ago (didn't end up selling thank god) and i used a 1% realtor. she did just what i needed. posted the house, did a showing, had photos done. and thankfully was really understanding when i decided not to follow through. didn't even charge me in the end for the photos which she paid out of pocket....thankfully she knew it was a big mistake me selling.

I think it depends on the agents coz a lot of agents they give you 50% of the commission they make so you can get some money.

Thats why real estate is a fucking racket. When I was selling my home in Edmonton with Comfree I had Realtors take down my for sale signs, refuse to show it to clients, etc.
The day I listed it with a Realtor I had an offer for asking, so I basically paid someone 12k for a fucking hour of work. Of course there are non-scum in the business, just like anywhere else, but there needs to be higher consequences for those that abuse the system like many do. Most of the penalties that crooked realtors have ended up paying are like half of a single commission, when they have done the same thing 100x over. Look at what the penalties were for shadow flipping! There is no incentive to be honest other than someones own morality.

Most of them are sacks of shit. Especially the “bigger” guys

The condo we are living in went up for sale this past month. Yaletown, 15 years old, low floor with no view, 1 BR 1 bath plus den. We put a LOT of effort into cleaning and staging (something I noticed many other competing listings weren't doing as much).

In one week we had 5 showings and one open house. Following the open house, we received one offer and after some negotiation, we agreed to their offer of slightly below asking but very close to the assessed value. There were a few subjects to navigate, but all were removed this past weekend.

We have also been watching the North Van market closely. Anything that is premium/desirable is still selling for $900 psf or more, relatively quickly. However, units that are less desirable due to weird floor plans or lack of view (for example) are sitting on the market longer are being forced to lower pricing to the $800s psf.

Across the Lower Mainland, we are starting to see a flood of new units coming on to the market following the presale boom of 2016 and 2017. Lots of sellers are trying to flip and make a profit. As more and more units come on to the market, buyers will have the upper hand in negotiation, however sellers will likely dig in their heels attempting to maintain a profit margin and avoid taking a loss. I believe the result will be many sellers choosing to rent instead, which will add more inventory to the rental market (not necessarily affordable inventory though).

When the market is hot and when you feel the realtor is "not needed", there will always be realtors you can negotiate.
1) Don't need u to open house, i can open, you (mr. realtor) don't need to show up.
2) Don't need you to stage.
3) I can take pics of my apartment.
4) Don't need to put my listings on your newspaper ad.
5) Just need you to do documents, and post listings.
6) You can bring your assistant (MLS realtor) to sign contract / listing.

My dad was understanding as a realtor; clients came knowing what they want and he agreed, if you don't need my value, then we can determine a fair but fixed rate on commission and bam, done deal.

This. I went to look at a few homes all hovering around 1mil. All were bought in ~2017 and all have dropped asking by 25/50k. But these houses are worth maybe 400k. They are not nice. It’s people being greedy and not willing to take any loss on a housing market gamble

Most of these rental will be rented out by international students. They have the money and can afford to pay 2200+ for a 2 bedroom or 1600+ one a one bedroom.

What's so not nice about them? The area, finishings, material used?

Got any specific listings that you saw? Post them up?

lol.. so our realtor... being the amateur he is....

3 days before expiration of listing - he asks us if we can accommodate a viewing last night... and of course we agreed.

As we sat in the car during the viewing, the realtor comes up to us and presents me with a form.. "listing cancellation"...while we're sitting in the dark in a car. I'm like..what's this? "oh, i dont like to have listings expire under my portfolio so this is a cancel listing agreement". of course he doesn't mention the 60 days post expiration if the house is relisted and sells he gets the full commission... what a fucktard. i'm like.. 'fuck off... the listing expires in a few days ... dont make your problem my problem"

if you agree to "cancel" then that's how he get's the full commission if sold within 60 days? and he just happened to leave that part out?

where as if it expires he get's nothing?

What a dick bag.

why didn't you look at him direct in the eyes and say fuck you.

Thoughts on current market for 1 bedroom apartments right now?

Thinking of selling my Wall Center Central Park low rise unit but not particularly in the mood to wait 3-5 months for it to move :/

The market entirely depends on the desirability of your unit. If it's appealing enough, there's a good chance it will sell quicker than you think at market rates.

But if it's less desirable, then you could be sitting on the market for a while, or be forced to lower your price.

is the though that the condo market is going to continue to drop (ya ya crystal ball)

i would like to pick up a condo for rental purposes.

downtown and burnaby would be too pricey. I'm thinking coquitlam (close to my home) or even maple ridge etc

thoughts?

SOLD!

after about 115 days.

list $1079000

sold $1055000


now comes the crappy part.. finding another house and moving.

That's the issue I'm having, no decent inventory left. I have another 4 weeks then I'm looking for a rental until spring/summer. Going to suck moving twice but I'd rather do that then buy a house I don't love. I've ran the number with the money I'm saving on my mortgage/property taxes plus the interest I make from my equity from my current home I'll bank (taxable of course) I'll actually be further ahead each month renting a house with cash in hand then I will I be buying one (at least right now).

Don't forget the massive increase in buying power you have, when yours is the cleanest offer on the table.

10 years is generous. I’d say 20 myself.

This happens all the time. If you don’t play nice with local realtors they won’t bring buyers to your place. They can make up anything they want about a property if there’s no commission to be made on their end like it needs work or the pictures make it look much better than it is etc. They can make up any BS on the spot and learn what buyers like/don’t like about homes to use that against them. Most buyers will take their word and move on without thinking twice.

This has happened to me on both sides of the coin. I sold a place privately and had a tough time doing so in a hot area/market. The next place I bought, I got a heck of a deal because the seller refused to deal with realtors which pissed them off. He didn’t advertise it well and just had a FSBO sign on the street we happened to drive past. As a result he didn’t have much interest so I got a very fair deal on the property.

Long story short, if you find a place you like, check it out for yourself. Don’t take a realtor’s word if they’re cautioning you about it for any reason.

This is true. Sadly, it’s the industry. Even if someone had honest intentions in the beginning of their career, they’ve probably lost deals/been burned and learned how to be successful the wrong way from the vets. If you can’t beat them join them mentality.

Of course I don’t want to over-generalize and have to believe there are good, honest realtors out there. It’s just a shame they’re so outnumbered it seems.

My friend is asking me to invest in Squamish townhouse. He said there's a big profit to grow. What do you guys think?