Housing crisis in Canada

[tfox72]

https://www.theglobeandmail.com/business/article-canada-real-estate-ban-blind-bidding/

"But Canada’s national real estate association and other powerful industry groups oppose the federal plan, saying that ending blind bidding would not bring down prices and would deprive homeowners of the choice of how they want to sell their homes. Most sellers prefer blind bidding because they believe it can get them a higher price."

Lol - agents openly admit that blind bidding leads to higher prices....openly defending lying and deception.

Nice to see the govt is taking action against this corrupt industry. No wonder the crooks are fighting it lol

 

[foodie69]

I am happy to have used a realtor selling my house in Vancouver BC. I got $265'000 over asking price by him. He deserved his fee, end of!

 

[tfox72]

I am happy to have used a realtor selling my house in Vancouver BC. I got $265'000 over asking price by him. He deserved his fee, end of!

1. Over asking price means nothing. I can ask for 0 and get 1 million over asking price.
2. Nothing to be happy about - you potentially screwed a buyer and you will similarly get screwed when its your turn to buy.

 

[Western Mountain Man]

1. Over asking price means nothing. I can ask for 0 and get 1 million over asking price.
2. Nothing to be happy about - you potentially screwed a buyer and you will similarly get screwed when its your turn to buy.

The housing crisis isn't going away anytime soon and a lot depends on where you want to live.
Low interest rates, lack of availability, desperation, all adds up to many frustrations, but I don't think all agents are on the take.

Find a cheap RV and a place to park it. Problem solved !

 

[YVR123]

I googled and found a few of private real estate sale sites, e.g.
For Sale By Owner www. bode .ca

I think tfox may have better experience if he buy from a private home seller. Since in this case, both of them know that a agent will not be involved in the property sale.

 

[foodie69]

1. Over asking price means nothing. I can ask for 0 and get 1 million over asking price.
2. Nothing to be happy about - you potentially screwed a buyer and you will similarly get screwed when its your turn to buy.

Hahahaha.. you are one sour puss. I screwed no one. The guy paid more because he wanted to. I was happy to get the asking price, he wanted to pay more. Fine. Should I have said no just to make the buyer happy? What planet are you on?
By the way, I am retired and already purchased a house in another province 2 years ago. I am not in the market for selling until I die..

 

[tfox72]

Hahahaha.. you are one sour puss. I screwed no one. The guy paid more because he wanted to. I was happy to get the asking price, he wanted to pay more. Fine. Should I have said no just to make the buyer happy? What planet are you on?
By the way, I am retired and already purchased a house in another province 2 years ago. I am not in the market for selling until I die..

If your buyer didnt overpay and paid the perfect market price - then what good was your agent? Either your agent helped you get much more than market price using shady tactics (which screwed your buyer) or they didnt (in which case, you paid 5% for nothing). Which is it?

Your buyer overpaid and you overpaid when you bought. Donated money to middleman for nothing. If agents didnt exist, you would have saved money on the buying and your buyer would have saved money when you sold. Good for society overall. Less friction.

 

[tfox72]

I googled and found a few of private real estate sale sites, e.g.
For Sale By Owner www. bode .ca

I think tfox may have better experience if he buy from a private home seller. Since in this case, both of them know that a agent will not be involved in the property sale.

This is good...but a very small %ge of market and only in BC/AB it seems. If agents are banned, services like these will dominate, which will be good for everyone.

 

[tfox72]

The housing crisis isn't going away anytime soon and a lot depends on where you want to live.
Low interest rates, lack of availability, desperation, all adds up to many frustrations, but I don't think all agents are on the take.

Find a cheap RV and a place to park it. Problem solved !

Agents are on the take. 5%! And much more if you include phantom bidding. If phantom bidding was not an issue, the Federal govt wouldnt have taken steps to ban it and Real estate agents wouldn't be so upset about it going away.

 

[foodie69]

If your buyer didnt overpay and paid the perfect market price - then what good was your agent? Either your agent helped you get much more than market price using shady tactics (which screwed your buyer) or they didnt (in which case, you paid 5% for nothing). Which is it?

Your buyer overpaid and you overpaid when you bought. Donated money to middleman for nothing. If agents didnt exist, you would have saved money on the buying and your buyer would have saved money when you sold. Good for society overall. Less friction.

I don't think I overpaid for anything in my life. Whatever financial decision I made was based on me being happy to pay the price whatever that was. You call that overpaid, fine.
I was never poor, hungry, thirsty, homeless or broke. And that was, is, based on living within my means.

 

[YVR123]

This is good...but a very small %ge of market and only in BC/AB it seems. If agents are banned, services like these will dominate, which will be good for everyone.

I frankly do not feel comfortable to buy/sell property without the help of my agent (again what we did without was a unique situation and I don't see us doing that again). I mean things like opening doors and giving out my phone numbers to strangers to see my place? listening to their good and bad comments of my house. Negotiate with the actual seller or buyer... Not all transection is straight forward. And believe me, if I saw face to face of a few of those "buyers" who "gave an offer" but ... then fail to carry throught the transactions, I would kill or beat them up. (LOL) Thank god for the buffer of my agent. (that's years ago before the market got super hot)

I think in your case.. it's like you have an infection and you are pretty sure it's an infection and you want to get antibiotic without a doctor's prescription because it waste your time and money. Why won't the pharmacy just give you the medication.

 

[tfox72]

I frankly do not feel comfortable to buy/sell property without the help of my agent (again what we did without was a unique situation and I don't see us doing that again). I mean things like opening doors and giving out my phone numbers to strangers to see my place? listening to their good and bad comments of my house. Negotiate with the actual seller or buyer... Not all transection is straight forward. And believe me, if I saw face to face of a few of those "buyers" who "gave an offer" but ... then fail to carry throught the transactions, I would kill or beat them up. (LOL) Thank god for the buffer of my agent. (that's years ago before the market got super hot)

I think in your case.. it's like you have an infection and you are pretty sure it's an infection and you want to get antibiotic without a doctor's prescription because it waste your time and money. Why won't the pharmacy just give you the medication.

There is no need to kill people who back out of deals. This is why you pay an actual expert - the lawyer. I have no problem paying top dollar for a good lawyer. I would be happy to pay 5% to lawyer and a flat fee to a lockbox opener.

In your stupid analogy...you wont go directly to doctor, but rather pay a lot of money for an agent to find you a doctor.

 

[tfox72]

I don't think I overpaid for anything in my life. Whatever financial decision I made was based on me being happy to pay the price whatever that was. You call that overpaid, fine.
I was never poor, hungry, thirsty, homeless or broke. And that was, is, based on living within my means.

You didnt answer my question. You claim that your agent helped you get more than market value for your house. Yes or no?

 

[foodie69]

You didnt answer my question. You claim that your agent helped you get more than market value for your house. Yes or no?

There were multiple offers, and the highest won. Simple.

 

[tfox72]

There were multiple offers, and the highest won. Simple.

Still not answered the question.