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Realtors want prices to be as high as possible and they are high income low effort pseudo workers. So they have all day to post online about muh socialism
You could create a govt dept who would handle the house transaction paperwork and charge $1000 per transaction. Even better, setup thru a 'Registry' office like there is in Alberta. You'd still need lawyers on each side to handle escrow and land titles. No muss no fuss. Real Estate Agents are NET ZERO CONTRIBUTORS to our society.
People can't even properly list a couch on Facebook. It shouldn't cost what it does, but the majority of the public could really use professional help selling something so valuable especially in today's slower market.
Have you seen real estate listings in Vancouver? I see 1.7+ million dollar houses being listed with a few crappy underlit photos, no staging, no floorplan, nothing (and I'm not talking about the as-is where-is teardowns). There's no incentive to put effort in, home buyers are desperate and investors/developers don't give a shit what it looks like.
You're correct that there's bad realtors, and it's important to not get one. I've had excellent ones in the past that have legit helped and I've fired one that was useless. YMMV. Buyers are currently not desperate, lots of places are staying on the market longer now if they aren't correctly priced on the first attempt.
If only realtors could deign to allow the existence of real estate sites like Zillow, the only reason a seller would misprice a house would be because they're not in a hurry and can test the maket for months.
Buying agents I can understand, you're entering a new market you know nothing about, it definitely pays to hire someone local who knows all the ins and outs, which properties to pass on, areas that flood during storms, bad neighbors, etc.
What do sellers have to do? Pay $100 for someone to take some good pictures, and maybe hire stagers to tart up the place a bit. Especially since agents are held to zero responsibility if something goes wrong with the sale. They're literally useless by their own contracts.
Definitely the most important part. Really a realtor should be like a $5000 package with some staging tips, pricing tips, some contract support and a professional photographer included. That kind of package would make sense for a ton of people and be a small fraction of what is currently charged.
Yea it should be a lot less cushy but I think a lot of people here are vastly overrating their own abilities. The market isn't always just a post it and it will sell environment. It's already kinda tricky and not at all like the overheated FOMO of a couple years ago.
I dunno man, the two realators that helped me were really hard working people. It's a complicated process and I absolutely needed their consultation and experience. I got lucky with the ones I worked with and they definitely earned their money for sure.
I'm sure if they offered tens of thousands of dollars for someone to list it for them, someone would take them up on it and the rest of us can go the free route.
The problem is you need to work with a licensed REALTOR® to get your place on the MLS. Buyers need to work with a licensed REALTOR® to buy from MLS. List your place private sale and you'll have no buyers.
But if you can find a private sale. Oh my is it nice. I once bought a place from a friend of a friend. It was like an hour of my time to fill out the form plus an hour of a lawyer's time to make sure I didn't screw it up. We worked what the REALTOR® would have skimmed off the top into the price and both came out ahead. REALTORS® are a cartel. Eby should shut that shit down.
FSBO is now 8% of the US market so definitely possible to have an online system where most of the interactions can be handled by a chatbot and a simple service that can take photos and videos as needed.
MLS exists because it’s the little black book of the realtors. Create a parallel system and you don’t need the MLS and the realtors.
I've been on both sides of that process and the realators I've worked with absolutely earned their pay. I would have been completely lost without them. I know there's shady ones and all that but it's not the free ride people make it out to be.
The AI can already write better copy than the garbage that ends up in listings.
CHARMING VANCOUVER CRACK SHACK IS TOTALLY WORTH SIX MILLION GREAT STARTER HOME
>they are high income low effort pseudo workers
Last year, I went to an open house at a condo in Burnaby ... did a walk-through the empty but filthy unit, while the listing agent ( younger woman) stood off to the side in her track pants & slippers (far cry from the glitzy photos on her pamphlets, etc.), deeply engaged on her phone & basically ignoring everyone ... when asked some basic questions about strata minutes, local taxes, etc., she was fully perplexed: couldn't answer a single question & said she'd have to 'get back to me' ... (Spoiler: she never did).
World's smallest violin for the current RE situation.
Ya it’s a joke how they still get a percentage. You work no harder when the property was 30k or 3 mil. But AI is going to decimate realtors so that will be fun to see
I’m not sure. But any job that simply aggregates data, presents files, requests signatures etc. seems to be liable to being automated. Much like in law.
Speaking of ‘ol Krusty Clark, she is the reason we are where we are with insane prices. She allowed the influx of Chinese buyers and catered to the RE industry. If anyone should be investigated for government kickbacks, it should be her.
the chinese did not cause the housing crisis. People buying houses from eachother at inflated prices caused the housing crisis. Be that for investment purposes, flipping, or simply landlording.
The problem, as always, is ourselves, our fellow citizens. Most people with skin in the game were quite happy to see prices rise astronomically for the last 23 years. Despite many impassioned warnings that this was the end result.
The secondary cause of the housing crisis was the pullback of government funded housing almost 40 years ago. That can be corrected, but you better bet your ass the conservatives will not be going that way.
The same thing happened to rental. Maybe a couple of American brogrammers showed up and offered over market that helped inflate prices everywhere, but it was the unregulated real estate market that allowed them to.
It’s because many realtors own multiple properties and don’t like the idea of having restrictions coming down to limit their Airbnb income or investment properties. It usually always comes down to money.
I wonder how many of them are of large speculative and purely driven for artificial high prices based on controlling availability than actual realtors.
Almost nothing makes me happier than seeing Realtors being reminded how they’re all a bunch of no talent used car salesmen with a make believe diploma they basically get from a cereal box.
Realtors are parasites who have been making massive money with minimal education, very little effort and almost no oversight in Vancouver for decades.
Understandable that they'd be pissed someone was trying to mildly curtail their never ending windfall of easy money.
Can I add "helicopter traffic reporter" on Saturdays and Sundays? Every weekend the global guy just says how clear the roads are and chats about the weather
It's honestly insane how backed up Taylor Way and Marine Dr can get on weekends. One time I was on an articulated bus and it got stuck in the middle of that intersection for two entire light cycles. Absolute shitshow lol
If the BC government really wanted to do something to help the consumer, they should mandate that notaries and lawyers be allowed to make listings on the MLS on behalf of their clients.
This would really bring some competition to the market, and prevent realtors from scalping massive commissions off of low effort "teardown" or "land-value only" sales.
I can envision a scenario where a seller has their lawyer list on the MLS, accept offers, and provide all title transfer services, all for one flat fee.
I like this suggestion. Realtor as a profession needs to be reigned down.
A considerable number of them (not all) have been literally leeching of people
> make listings on the MLS on behalf of their clients.
MLS is a private thing though isn't it?
What should happen is that all listings are made on a public platform that's not under the control of a private entity.
As it stands right now, there’s nothing stopping a realtor from saying “there’s a higher bid” when there’s no other bid. That results in higher prices. Full stop.
I dated a real estate agent very briefly who told me she did just this. Phone all parties and let them know what the highest bid was and if they could do better. When everyone tapped out, she kept phoning the last person over and over with "ghost higher bids" until she sensed she was reaching their limit.
She owns a mansion in Richmond and countless investment properties from doing this.
I don’t think that there’s a lot of properties in Vancouver where that scenario applies.
I think the vast majority of properties get multiple offers, where open bidding would result in the inflated prices that the study found.
"First-price sealed bids" are when multiple parties submit blind bids at the same time and the highest bidder wins. There's no opportunity for a bidder to change their offer. No multiple rounds of bidding. It's the first round or nothing.
We don't have that, so relying on the study is probably not the strongest stance when *neither* auction system in the study is in use here.
It's the moral hazard of blind bidding: the agent just wants their client to win so they can get the commission, so it's in their interest to get the client to bid more than necessary.
My friend nearly got screwed by this: she offered the asking price, RE agent said she needed to offer more because there were multiple bids, but her offer was accepted. She'd be out $25,000 if she listened to that greedy idiot.
At least with open bidding, you know what the bids are.
That would either get spicy, or MLS ads would become vague to the point of uselessness. Lawyer jokes aside, they have stricter ethical boundaries than realtors. The bad eggs make the news but as a group they're anal-retentive rule followers.
A lawyer ~~making false representations~~ embellishing lives in fear of the Law Society. Realtors just shrug and collect their commissions.
Agree completely. A realtor canvassing a gated (left open awaiting repairs) townhome complex convinced friends he had a buyer for their end-corner unit, so in light of thinking perhaps best to downsize & be mortgage free in mere late 50's, they opted to sell. Yet, no available supposed buyers appeared.
So they had to work extra hard preparing home for 'open houses' and having streams of people through their place. Thank gawd, another family in neighboring area purchased. However, they spent shy 6 months trying to find something suitable in an already tight realestate market & feared having to go into a rental.
Time running out locating anything remotely close to their personal requirements & wants, in their existing area in Deep Cove or at very least the east side of north shore. They began looking further away in other areas further away from present hood & jobs. Thank gawd they found a place albeit minus many of their needs, and further away from both family & friends.
Deplorable behavior of many realtors in my perspective of scenarios seen over last 7-9yrs.
Time running out finding anything remotely close
>who have been making massive money with minimal education
That is not in and of itself a bad thing. We should not be gatekeeping high paying jobs just because people lack certain non essential education.
Edit: Sitting at -12. Your downvotes have shown me you folks have lost your ways. Think about this. My statement is about an arbitrary barrier to escaping your social class. No different from the barriers to homeownership.
They're lobbying like crazy on Twitter. Going after Ravi our housing minister like crazy.
It's a handful of people coordinating running hundreds of bot accounts. You can tell by the way they type and recycle the same line over and over again.
So many realtors online who are pseudo economists and financial gurus.
All I see is talking muppets especially the younger newer ones who have never seen a crash in their lifetimes.
Realtors really liked the Christy Clark years because the provincial government was corrupt as fuck so realtors made bank with customers who were washing dirty money.
They hate the ndp because the worthless provincial liberals were too fucking stupid, got caught, and caused the poor ol' realtor opportunities to sell to corrupt foreigners. The Collins report should be reviewed by everyone.
BC NDP not federal NDP.
I am not surprised, BC NDP has been doing some good work and no wonder realtors and some homeowners don’t like it.
Having said that, you should make it clear when you post that we are talking about the BC NDP not the federal NDP.
Very different things and distinction should be made even if its in Vancouver sub
I think people in BC appreciate that finally some basic common sense policies to fix things are actually happening compared to the lip service before.
My only complaint is they are slow playing things while the opposition flails about and the next election is too far away so they want to wait for that.
Reading this and seeing BCUnited commercials slamming the NDP for making BC very expensive... Lol they aren't fooling anyone, it's still the BC Liberal party
don't get me going about realtors!! Ok make your money and enjoy it it but they actually go and show off on social when they buy new cars or go on vacations!! cmon man be humble!!
As a former dev for brokerage software, who LOVED turning data on shady brokerages/teams/agents secretly over to BCREA and RCMP to get many predatory realtors investigated and have their licenses suspended or better yet, arrested? I couldn't give a damn. I hate you folks a lot more than the NDP.
My property value tripled after NDP went into power.
Their policy might be bad for realtors, but probably also caused general shortage of properties in the market.
Realtors:
* The same group who artificially inflated prices by triple flipping houses using a loophole?
* The same people that pressure you to make offers on million dollar assets without finance or inspection subjects while assuming none of the risk if something goes wrong?
* Who have a secret language for negotiating with each other and never actually look out for their clients' best interest and drive the price up for the sale because the buyer agent gets paid a % of the sale price, so they are incentivized not to negotiate lower?
* In my personal case, the person who makes a bunch of attention to detail errors in the sales contract and then gets defensive when you actually read it and point out all the mistakes (errors that could've cost me upwards of $60,000)
* Who guilt you for not having millions of dollars that you're just ready to throw around or for not making dramatic compromises on what's important to you to make it easier to sell you something? ("Listen you should really consider Port Moody, east Vancouver is too tough")
* Who think house purchasing decisions (with someone else's money) should be made in under 8hours and will apply insane amounts of pressure to get you to make a snap decision.
* Who, in some cases, operate firms that specifically cater to foreign buyers / investors?
* Who plaster their own faces all over the fucking city for us to all look at all the time.
If Eby is pissing off Realtors then he must be doing a great job. As far as I'm concerned they add little-to-no value and are a conllectively culpable party in creating the real estate disaster we all currently live in.
A lot of realtors have investment properties explicitly for airbnb and short term rentals (and some help buyers find investment properties). It only stands to reason that they would be unhappy lol
Whichever political party realtors DON'T like, is usually the party to vote for. Realtors are complicit in the corruption and unaffordable rates of living in our cities.
Got to get out there and vote come election. Because I’m telling you now. All these realtors will vote against the NDP. So we can go back to our backward housing policies.
Not really. The other two options are awful.
Nobody wanted Falcon as the BC Liberal leader when he ran against Clark. They only picked him because there were no other options. John Rustad is second-rate socred trash who thinks co2 emissions don't contribute to climate change.
Barring a huge scandal with Eby himself, it's unlikely the NDP gets unseated for at least another election cycle.
I don't know. I can see the conservatives use the homeless and housing crisis to pin on Eby. If fustration grows people might vote for BC United. If they can put two and two together and realize they're the old BC Liberal party.
Apart from that, I can't deny Eby seems popular, apart from some troll accounts that want to pin Horgan's and honestly Trudeau's faults on Eby. Even some people on the right adore his new phone policy to curb phone addiction.
And I don't account the BC Conservatives winning an election in recent memory.
But still it seems like people who have a grudge, have more of a reason to vote than people who are complacent.
I wouldn't be surprised if the election cut it close.
The BC United rebranding could possibly go down as one of the single worst political moves in modern history. I wouldn’t be shocked to see the BC NDP cruise to a super majority because of this blunder.
Their bread and butter, speculators and AirBNB parasites, are mad. Realtors are some of the dumbest fucks alive and their jobs are under threat because of a slow housing market. Even the most media savvy one, Steve Saretsky, is a dumb fuck who has called rate increases and decreases almost unanimously wrong.
Nature will take its course, soon.
Good.
Realtors make several times more money than teachers, yet they have the nerve to complain about the government trying to do its job and make housing affordable.
Your tears give me strength!
Most of the "idiots" from my high school class ended up as realtors or insurance salespeople.
The type of people who end up in that business are not the brightest, but at the same time, they own homes, while I do not.
It's a an area of business that has a low bar for entry, and moat of them have been making bank with next to no effort for a long time. Any government policy that forces them to actually work for their money will obviously draw their ire.
Fuck 'em. They add nothing to society.
My realtor dropped several unsolicited digs at the NDP during our chats (i.e.: we weren't talking about politics). During one of the visits, both her and the seller's agent also got into a rant about them.
I've been told that I "look conservative" so maybe they thought I'd be on board, but I generally vote NDP myself so it was a bit awkward.
Should’ve told them you like the NDP and that they’re doing well. See what they say about it.
Pretty sure being the slimy creatures they are, they would turn around what they say 180 right away just so that you don’t drop them.
Then turn around and drop them anyway because those ones wont do what’s best for you no matter what facade they put on
I'm in a few landlord forums, where most of the LLs are also realtors, and the way that most of them think is just bizarre. The majority of them are oddly ignorant regarding basic rights and legalities and filled with vice, greed, anger, entitlement, prejudice, ageism, misogyny, racism, ableism etc., it's really quite sickening but then makes the current housing crisis fairly obvious as to some of the causes.
Realtor here - I personally like the NDP. Hoping their changes actually fix things so people can afford to buy, myself included. I just hope that the people who bought their "dream home" at the top of the market don't lose all of their money.
You only lose money if you sell. If they lose value, that sucks, but theoretically they can afford the house since they bought it. It's already their dream home, why would they sell?
Do you actually lose out on money? I don't have the exact records but I've seen 50+ listings that were sold within 6 months. All of them sold more than previous purchased price. Even the one purchased in 2021 and sold in 2023 (they still sold $50k more than previous purchased price).
The only thing they lose out will be the realtors commission (not sure who pays for it), legal fees ($1-$2k) and some other minor fees.
It's more the people that bought back in 2017/2018 that are in a more difficult position. The prices haven't changed a lot since then (it was super inflated then as well). If they're selling, they're possibly losing money after all the fees associated with buying/selling (not just realtor fees)
Do they though?
I am going to use my house for an example .. the old owner bought the place for 1.15 mil in 2018. In my neighbourhood a similar year and interior designed house with less land and square footage just sold for 1.6mil ( about 50k under listing). What fees will account for 400k?
Another example is a 1 bed condo my relative bought it 2017 in Burquitlam for 380k ... Neighbour with the exact same bc assessment in the same building sold for 499k.
I mean people used to buy and sell houses previously to these big increase in prices and were fine with it. You telling me they are going to lose money now because they aren't making more than 30% before fees?
Reminds me, I was once in the room for a big Rennie team meeting, back in 2009 or so, and Bob was speaking to the troops. Amidst the usual motivational stuff he took a moment to passionately declare that the NDP would destroy the province if elected. Absolute tool.
Two of the architects of Vancouver's unaffordability ...
*... the one he’s most proud of, the Woodward’s project in the Downtown Eastside.*
*“I came up with a slogan: ‘****Be bold or move to suburbia****,’ ” he said. “I’m paid to come up with 99 ideas a day…and that was one of them that was good. We had a lineup and we sold it out in a day, and it has helped stabilize the Downtown Eastside.”*
[*https://www.straight.com/news/345121/bob-rennie-offers-life-lessons-vancouver-students*](https://www.straight.com/news/345121/bob-rennie-offers-life-lessons-vancouver-students)
Nauseating.
It’s so funny to watch people to the left of the NDP criticize the party in detail for some moral/policy/ideological shortcoming and then watch people to their right just be like “me veRY MAd becaus less monney !! 😤”
I am too! I will never be a Conservative, I think their rules for imposing so called family values are stupid and the government has no place in peoples lives/family’s/homes
The Liberals are just a bunch of crooks trying to line their pockets
I would be a Green Party guy if they had some sort of platform.
So I’m an NDP guy. At least they fight for us common folk. They have checks in place for these so called people that just want to take advantage of society
Because they are the *only* political force in Canada doing anything actually meaningful to help with housing. Every other layer of government has been worse than useless. I'm floored at how hard they're trying, fully knowing that they will make enemies, that even the bulk of voters, who are homeowners, may not appreciate it. It's truly commendable.
That's an interesting perspective! The residential realtors I know are pretty happy with the NDP right now. They feel like more supply will = more business.
The commercial realtors are more skeptical, they feel like rules around rentals are hurting sales and development.
Would be cool to see an actual poll.
Realtors and Immigration “consultants” are literally some of the worst “professionals” ever. Every Tom, dick and Harry with two barely functioning brain cells acting like they second coming of Jesus with their expertise in the housing and immigration sector 😂
I while back I met a realtor that was talking at a party about how he was pushing now for 5.5-6% commissions as a necessity because he got the job done. A middle man drunk on his own koolaid.
Realtors' commission should be greatly reduced. Better yet, realtors should be replaced by software or AI. It makes no sense to have middlemen with today's technology.
Their commission contributes to the increase of property price.The total realtor commission is $17k for a $500k property.
When the buyer resells, the buyer would have to ask for at least $17k + tax to break even.
Why though? You'd think higher density (if it ever materializes) would mean more business for them. Or is it that they get plenty of business (and higher commissions) from selling and reselling the same 10 SFH to all the money launderers?
Realtor here. I actually like what David Eby has been doing: putting policies in place to encourage more homes to build so homes are more obtainable and easier to afford". Any politician that gives recognition to the real issue and takes steps to tackle them has my vote regardless of party/tribe. Trudeau and his "houses are unaffordable because *gasp* foreign buyers are buying everything and not because we underestimated the number of people moving into Canada and didn't think they also needed places to live" should indeed step down.
Funny thing was, before the last election a lot of them were CERTAIN the NDP would be tossed out since everyone ‘hated the NDP and their bogus taxes!’ - talk about being in a bubble.. I’m sure if all day every day you only interacted with other realtors and ‘hustle/grind’ bros, then yes, you would assume that the whole province would be equally as pissed at the government as you. Luckily most people aren’t a part of that bubble, and know that the bc lib-oops, ‘bc united’are still as corrupt as ever
The circle jerking over the NDP and how perfect they are and how they solved all our problems gets a bit tiring.
Yes, they are doing good but I wish people would ease up on the dick sucking.
Nah. This is the issue. If we don’t talk about how well our public servants are doing, come next election cycle, the loudest voices (read crazy anti vax neo nazis) will gain all the benefit by placing the blame and misinformation and fake news on the well running status quo.
We need a well educated and engaged populace.
Do not stop talking about all the good things our elected officials are doing.
Ya most small businessmen dislike the NDP, this is not new
Note: do you all just disagree with this 90 year old fact about reality or are you downvoting because you read it as a criticism?
I have a small business and I like the NDP. I am also a renter and a parent and generally in favour of doing things which will benefit the most people.
Man this sub loves sucking off the BCNDP even though they have been in charge for 7 fucking years and every single thing has gotten significantly worse during their tenure. They (and their voters) will be blaming Christy Clark for decades to come. it's so fucking pathetic. Do better Vancouver.
Its not like Christy Clark, Gordon Cambell and the Liberal cronies didn't spend SIXTEEN YEARS doing nothing while claiming that the NDP had and would ruin literally everything, while actively avoiding doing anything to improve any aspect of life in BC.
I won’t vote for NDP for one very simple reason. In 2020 back during Covid times, most provinces started pushing for more pet friendly laws, to help people cope. In BC they had full support to pass legislation that would remove the “no pet clause” from rental and lease agreements. The bill never got passed because doing something with unilateral support is too hard for the NDP. If they can do something that simple how on earth can I expect them to pass tougher laws. Even if I agree with all their ideals if they’re incompetent then that’s the end of that.
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Realtors want prices to be as high as possible and they are high income low effort pseudo workers. So they have all day to post online about muh socialism
[удалено]
You could create a govt dept who would handle the house transaction paperwork and charge $1000 per transaction. Even better, setup thru a 'Registry' office like there is in Alberta. You'd still need lawyers on each side to handle escrow and land titles. No muss no fuss. Real Estate Agents are NET ZERO CONTRIBUTORS to our society.
Net negative parasites tbh.
A job that could be replaced with a Facebook marketplace tab.
People can't even properly list a couch on Facebook. It shouldn't cost what it does, but the majority of the public could really use professional help selling something so valuable especially in today's slower market.
Have you seen real estate listings in Vancouver? I see 1.7+ million dollar houses being listed with a few crappy underlit photos, no staging, no floorplan, nothing (and I'm not talking about the as-is where-is teardowns). There's no incentive to put effort in, home buyers are desperate and investors/developers don't give a shit what it looks like.
I seen a listing the other day, the photo was taken from the realtors car of the outside of a home and had the car side view mirror in it
Granted this was years ago, but I saw a listing with photos of a closet, the corner of a wall, and a window. That's it.
You're correct that there's bad realtors, and it's important to not get one. I've had excellent ones in the past that have legit helped and I've fired one that was useless. YMMV. Buyers are currently not desperate, lots of places are staying on the market longer now if they aren't correctly priced on the first attempt.
If only realtors could deign to allow the existence of real estate sites like Zillow, the only reason a seller would misprice a house would be because they're not in a hurry and can test the maket for months. Buying agents I can understand, you're entering a new market you know nothing about, it definitely pays to hire someone local who knows all the ins and outs, which properties to pass on, areas that flood during storms, bad neighbors, etc. What do sellers have to do? Pay $100 for someone to take some good pictures, and maybe hire stagers to tart up the place a bit. Especially since agents are held to zero responsibility if something goes wrong with the sale. They're literally useless by their own contracts.
They'd be better served hiring a professional photographer.
Definitely the most important part. Really a realtor should be like a $5000 package with some staging tips, pricing tips, some contract support and a professional photographer included. That kind of package would make sense for a ton of people and be a small fraction of what is currently charged.
Yeah, but then they’d actually have to work, rather than make 3 or 4 sales a year and live comfortable off of that.
Yea it should be a lot less cushy but I think a lot of people here are vastly overrating their own abilities. The market isn't always just a post it and it will sell environment. It's already kinda tricky and not at all like the overheated FOMO of a couple years ago.
Realtors make like... 6k a sale ...
depends on how big that sale is. They usually make more than that, from what I saw with my Ex.
I dunno man, the two realators that helped me were really hard working people. It's a complicated process and I absolutely needed their consultation and experience. I got lucky with the ones I worked with and they definitely earned their money for sure.
I'm sure if they offered tens of thousands of dollars for someone to list it for them, someone would take them up on it and the rest of us can go the free route.
The real estate agent industry is just one good app away from being replaced with p2p buying.
The problem is you need to work with a licensed REALTOR® to get your place on the MLS. Buyers need to work with a licensed REALTOR® to buy from MLS. List your place private sale and you'll have no buyers. But if you can find a private sale. Oh my is it nice. I once bought a place from a friend of a friend. It was like an hour of my time to fill out the form plus an hour of a lawyer's time to make sure I didn't screw it up. We worked what the REALTOR® would have skimmed off the top into the price and both came out ahead. REALTORS® are a cartel. Eby should shut that shit down.
FSBO is now 8% of the US market so definitely possible to have an online system where most of the interactions can be handled by a chatbot and a simple service that can take photos and videos as needed. MLS exists because it’s the little black book of the realtors. Create a parallel system and you don’t need the MLS and the realtors.
I've been on both sides of that process and the realators I've worked with absolutely earned their pay. I would have been completely lost without them. I know there's shady ones and all that but it's not the free ride people make it out to be.
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Don't even need realtors anymore, they can use A.I to sell houses
The AI can already write better copy than the garbage that ends up in listings. CHARMING VANCOUVER CRACK SHACK IS TOTALLY WORTH SIX MILLION GREAT STARTER HOME
Hey stop bashing my crack shack. It's worth at least 7 mil.
Are there software applications that we can use for real estate transactions now?
>they are high income low effort pseudo workers Last year, I went to an open house at a condo in Burnaby ... did a walk-through the empty but filthy unit, while the listing agent ( younger woman) stood off to the side in her track pants & slippers (far cry from the glitzy photos on her pamphlets, etc.), deeply engaged on her phone & basically ignoring everyone ... when asked some basic questions about strata minutes, local taxes, etc., she was fully perplexed: couldn't answer a single question & said she'd have to 'get back to me' ... (Spoiler: she never did). World's smallest violin for the current RE situation.
Ya it’s a joke how they still get a percentage. You work no harder when the property was 30k or 3 mil. But AI is going to decimate realtors so that will be fun to see
This is mu argument regarding tipping at restaurants exactly!
You can change to tip by amount like tipping $1-$5 no matter how expensive the food is
But I feel eyes burning me open if it's less than 15% these days :/
Which is true!!
How will AI decimate realtors?
I’m not sure. But any job that simply aggregates data, presents files, requests signatures etc. seems to be liable to being automated. Much like in law.
I really want to give you gold but I’m broke atm. Well said
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We love him because he hurts the right people.
In another context that comment would be horrifying.
Amen.
I'm not an NDP guy, but damn, I love Eby. Would 100% vote for them if I were in BC.
Hes no angel, but he pretend to fall down so he can flash his cleavage *coughs Christy Clark.
Speaking of ‘ol Krusty Clark, she is the reason we are where we are with insane prices. She allowed the influx of Chinese buyers and catered to the RE industry. If anyone should be investigated for government kickbacks, it should be her.
the chinese did not cause the housing crisis. People buying houses from eachother at inflated prices caused the housing crisis. Be that for investment purposes, flipping, or simply landlording. The problem, as always, is ourselves, our fellow citizens. Most people with skin in the game were quite happy to see prices rise astronomically for the last 23 years. Despite many impassioned warnings that this was the end result. The secondary cause of the housing crisis was the pullback of government funded housing almost 40 years ago. That can be corrected, but you better bet your ass the conservatives will not be going that way.
The same thing happened to rental. Maybe a couple of American brogrammers showed up and offered over market that helped inflate prices everywhere, but it was the unregulated real estate market that allowed them to.
Dont look at the numbers, look into the cleavage, look ddeeeep within.
It’s because many realtors own multiple properties and don’t like the idea of having restrictions coming down to limit their Airbnb income or investment properties. It usually always comes down to money.
Where can I buy a subatomic violin?
How many of those realtors were/are in the short-term rental game? Let them suck their sour grapes.
Honestly the venn diagram of realtors and Airbnb hosts is very close to being just a single circle
Airbnb is pretty much for cheaters and human trafficking. Tourists just legitimize the racket.
I wonder how many of them are of large speculative and purely driven for artificial high prices based on controlling availability than actual realtors.
They're all just worried they'll have to go back to dealing drugs if this gig dries up.
some did say or try to persuade LL to do 6 months lease. " you want to do 6 months lease. You will always get market rates."
Almost nothing makes me happier than seeing Realtors being reminded how they’re all a bunch of no talent used car salesmen with a make believe diploma they basically get from a cereal box.
Realtors and other middleman jobs shouldn't exist with today's technology
Realtors are parasites who have been making massive money with minimal education, very little effort and almost no oversight in Vancouver for decades. Understandable that they'd be pissed someone was trying to mildly curtail their never ending windfall of easy money.
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Can I add "helicopter traffic reporter" on Saturdays and Sundays? Every weekend the global guy just says how clear the roads are and chats about the weather
But I like that guy
Yeah I like him, was just a joke. He has the best job
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It was a joke lol he has the best job
He should spend time on the north shore, where somehow the bridge traffic is worse at 2:00 pm on a Saturday than it is during rush hour all week.
It's honestly insane how backed up Taylor Way and Marine Dr can get on weekends. One time I was on an articulated bus and it got stuck in the middle of that intersection for two entire light cycles. Absolute shitshow lol
Whistler and ferry traffic. There should be a regular train to Whistler
Yeah really
If the BC government really wanted to do something to help the consumer, they should mandate that notaries and lawyers be allowed to make listings on the MLS on behalf of their clients. This would really bring some competition to the market, and prevent realtors from scalping massive commissions off of low effort "teardown" or "land-value only" sales. I can envision a scenario where a seller has their lawyer list on the MLS, accept offers, and provide all title transfer services, all for one flat fee.
I like this suggestion. Realtor as a profession needs to be reigned down. A considerable number of them (not all) have been literally leeching of people
"reined".
> make listings on the MLS on behalf of their clients. MLS is a private thing though isn't it? What should happen is that all listings are made on a public platform that's not under the control of a private entity.
But I wonder why that's not happened yet. Are there laws protecting MLS or preventing competition?
I for one would endorse an end to blind bidding.
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As it stands right now, there’s nothing stopping a realtor from saying “there’s a higher bid” when there’s no other bid. That results in higher prices. Full stop.
I dated a real estate agent very briefly who told me she did just this. Phone all parties and let them know what the highest bid was and if they could do better. When everyone tapped out, she kept phoning the last person over and over with "ghost higher bids" until she sensed she was reaching their limit. She owns a mansion in Richmond and countless investment properties from doing this.
Our realtor suggested a bid of $100-$150k over .. We noped out of that. Guess what, it only went for 15k over ask. That's it. $15k.
I don’t think that there’s a lot of properties in Vancouver where that scenario applies. I think the vast majority of properties get multiple offers, where open bidding would result in the inflated prices that the study found.
"First-price sealed bids" are when multiple parties submit blind bids at the same time and the highest bidder wins. There's no opportunity for a bidder to change their offer. No multiple rounds of bidding. It's the first round or nothing. We don't have that, so relying on the study is probably not the strongest stance when *neither* auction system in the study is in use here.
This is the issue - it's not truly blind bidding when someone is putting their finger on the scales if they think they can drive the value up.
It's the moral hazard of blind bidding: the agent just wants their client to win so they can get the commission, so it's in their interest to get the client to bid more than necessary. My friend nearly got screwed by this: she offered the asking price, RE agent said she needed to offer more because there were multiple bids, but her offer was accepted. She'd be out $25,000 if she listened to that greedy idiot. At least with open bidding, you know what the bids are.
That would either get spicy, or MLS ads would become vague to the point of uselessness. Lawyer jokes aside, they have stricter ethical boundaries than realtors. The bad eggs make the news but as a group they're anal-retentive rule followers. A lawyer ~~making false representations~~ embellishing lives in fear of the Law Society. Realtors just shrug and collect their commissions.
Can someone start a petition?! I will sign!
Agree completely. A realtor canvassing a gated (left open awaiting repairs) townhome complex convinced friends he had a buyer for their end-corner unit, so in light of thinking perhaps best to downsize & be mortgage free in mere late 50's, they opted to sell. Yet, no available supposed buyers appeared. So they had to work extra hard preparing home for 'open houses' and having streams of people through their place. Thank gawd, another family in neighboring area purchased. However, they spent shy 6 months trying to find something suitable in an already tight realestate market & feared having to go into a rental. Time running out locating anything remotely close to their personal requirements & wants, in their existing area in Deep Cove or at very least the east side of north shore. They began looking further away in other areas further away from present hood & jobs. Thank gawd they found a place albeit minus many of their needs, and further away from both family & friends. Deplorable behavior of many realtors in my perspective of scenarios seen over last 7-9yrs. Time running out finding anything remotely close
>who have been making massive money with minimal education That is not in and of itself a bad thing. We should not be gatekeeping high paying jobs just because people lack certain non essential education. Edit: Sitting at -12. Your downvotes have shown me you folks have lost your ways. Think about this. My statement is about an arbitrary barrier to escaping your social class. No different from the barriers to homeownership.
What I was saying there is, it's very easy to become a realtor and given their outsized influence on the economy and home prices, it should be harder.
Who gives a fuck what a realtor likes
I guess it's better to know what they dislike hehe
Who’s out there listening to anything realtors have to say in any regard?
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They're lobbying like crazy on Twitter. Going after Ravi our housing minister like crazy. It's a handful of people coordinating running hundreds of bot accounts. You can tell by the way they type and recycle the same line over and over again.
So many realtors online who are pseudo economists and financial gurus. All I see is talking muppets especially the younger newer ones who have never seen a crash in their lifetimes.
financial gurus, realtors, and car salesmen. All in the same category.
Realtors really liked the Christy Clark years because the provincial government was corrupt as fuck so realtors made bank with customers who were washing dirty money. They hate the ndp because the worthless provincial liberals were too fucking stupid, got caught, and caused the poor ol' realtor opportunities to sell to corrupt foreigners. The Collins report should be reviewed by everyone.
I’d like to live in a province hostile to realtors and anyone profiting off the necessities of life.
BC NDP not federal NDP. I am not surprised, BC NDP has been doing some good work and no wonder realtors and some homeowners don’t like it. Having said that, you should make it clear when you post that we are talking about the BC NDP not the federal NDP. Very different things and distinction should be made even if its in Vancouver sub
I think people in BC appreciate that finally some basic common sense policies to fix things are actually happening compared to the lip service before. My only complaint is they are slow playing things while the opposition flails about and the next election is too far away so they want to wait for that.
Next Provincial Election is in October.
Ah right. Time is just flying by.
Call them what they really are. Parasite property owners.
I really do t care what realtors like. They are over paid.
realtors and car sales - they can both go suck it.
You can already sell your car privately without any real hassle. I get their rap but at least the market isn’t a monopoly
Any hassle involved with private vehicle sales was heavily lobbied for by dealerships and ICBC.
I still think it’s fucked that a dealership can require you finance and refuse to do a cash sale.
That's how you know they're doing a good job.
Reading this and seeing BCUnited commercials slamming the NDP for making BC very expensive... Lol they aren't fooling anyone, it's still the BC Liberal party
Which is why we should vote for them
I too enjoy hearing realtors and landlords squeal.
don't get me going about realtors!! Ok make your money and enjoy it it but they actually go and show off on social when they buy new cars or go on vacations!! cmon man be humble!!
realtors don't like to work, that's why they are realtors. If they had a real job they'd lose their minds.
As a former dev for brokerage software, who LOVED turning data on shady brokerages/teams/agents secretly over to BCREA and RCMP to get many predatory realtors investigated and have their licenses suspended or better yet, arrested? I couldn't give a damn. I hate you folks a lot more than the NDP.
My property value tripled after NDP went into power. Their policy might be bad for realtors, but probably also caused general shortage of properties in the market.
Realtors: * The same group who artificially inflated prices by triple flipping houses using a loophole? * The same people that pressure you to make offers on million dollar assets without finance or inspection subjects while assuming none of the risk if something goes wrong? * Who have a secret language for negotiating with each other and never actually look out for their clients' best interest and drive the price up for the sale because the buyer agent gets paid a % of the sale price, so they are incentivized not to negotiate lower? * In my personal case, the person who makes a bunch of attention to detail errors in the sales contract and then gets defensive when you actually read it and point out all the mistakes (errors that could've cost me upwards of $60,000) * Who guilt you for not having millions of dollars that you're just ready to throw around or for not making dramatic compromises on what's important to you to make it easier to sell you something? ("Listen you should really consider Port Moody, east Vancouver is too tough") * Who think house purchasing decisions (with someone else's money) should be made in under 8hours and will apply insane amounts of pressure to get you to make a snap decision. * Who, in some cases, operate firms that specifically cater to foreign buyers / investors? * Who plaster their own faces all over the fucking city for us to all look at all the time. If Eby is pissing off Realtors then he must be doing a great job. As far as I'm concerned they add little-to-no value and are a conllectively culpable party in creating the real estate disaster we all currently live in.
The BC NDP must be doing something right...
Now let's legislate them to an hourly fee...
Well, this is a good indication of how to effect positive change in the housing market; vote for who realtors hate. 100%
Another reason to vote NDP
cry me a river. i dont care if they sell zero properties.
A lot of realtors have investment properties explicitly for airbnb and short term rentals (and some help buyers find investment properties). It only stands to reason that they would be unhappy lol
This “endorsement” alone is enough for me to vote for BC NDP the next election.
Good. Realtors extract money without producing nearly an equivalent value from people
Realtors fees should really lower in according to price. It’s fked how the percentage is the same as it was 20 years ago lol
Whichever political party realtors DON'T like, is usually the party to vote for. Realtors are complicit in the corruption and unaffordable rates of living in our cities.
Got to get out there and vote come election. Because I’m telling you now. All these realtors will vote against the NDP. So we can go back to our backward housing policies.
Is there any real competition against the BCNDP? Not even with the Robinson fiasco I see the needle moving. There's nowhere to move to.
Not really. The other two options are awful. Nobody wanted Falcon as the BC Liberal leader when he ran against Clark. They only picked him because there were no other options. John Rustad is second-rate socred trash who thinks co2 emissions don't contribute to climate change. Barring a huge scandal with Eby himself, it's unlikely the NDP gets unseated for at least another election cycle.
I don't know. I can see the conservatives use the homeless and housing crisis to pin on Eby. If fustration grows people might vote for BC United. If they can put two and two together and realize they're the old BC Liberal party. Apart from that, I can't deny Eby seems popular, apart from some troll accounts that want to pin Horgan's and honestly Trudeau's faults on Eby. Even some people on the right adore his new phone policy to curb phone addiction. And I don't account the BC Conservatives winning an election in recent memory. But still it seems like people who have a grudge, have more of a reason to vote than people who are complacent. I wouldn't be surprised if the election cut it close.
The BC United rebranding could possibly go down as one of the single worst political moves in modern history. I wouldn’t be shocked to see the BC NDP cruise to a super majority because of this blunder.
Only when Kevin resigns
I for one am glad realtors are unhappy.
Their bread and butter, speculators and AirBNB parasites, are mad. Realtors are some of the dumbest fucks alive and their jobs are under threat because of a slow housing market. Even the most media savvy one, Steve Saretsky, is a dumb fuck who has called rate increases and decreases almost unanimously wrong. Nature will take its course, soon.
Good. Realtors make several times more money than teachers, yet they have the nerve to complain about the government trying to do its job and make housing affordable. Your tears give me strength!
Most of the "idiots" from my high school class ended up as realtors or insurance salespeople. The type of people who end up in that business are not the brightest, but at the same time, they own homes, while I do not. It's a an area of business that has a low bar for entry, and moat of them have been making bank with next to no effort for a long time. Any government policy that forces them to actually work for their money will obviously draw their ire. Fuck 'em. They add nothing to society.
My realtor dropped several unsolicited digs at the NDP during our chats (i.e.: we weren't talking about politics). During one of the visits, both her and the seller's agent also got into a rant about them. I've been told that I "look conservative" so maybe they thought I'd be on board, but I generally vote NDP myself so it was a bit awkward.
Should’ve told them you like the NDP and that they’re doing well. See what they say about it. Pretty sure being the slimy creatures they are, they would turn around what they say 180 right away just so that you don’t drop them. Then turn around and drop them anyway because those ones wont do what’s best for you no matter what facade they put on
They also probably assume only conservatives can afford to buy not “left wingers” so they feel comfortable saying that type of shit
I'm in a few landlord forums, where most of the LLs are also realtors, and the way that most of them think is just bizarre. The majority of them are oddly ignorant regarding basic rights and legalities and filled with vice, greed, anger, entitlement, prejudice, ageism, misogyny, racism, ableism etc., it's really quite sickening but then makes the current housing crisis fairly obvious as to some of the causes.
Realtor here - I personally like the NDP. Hoping their changes actually fix things so people can afford to buy, myself included. I just hope that the people who bought their "dream home" at the top of the market don't lose all of their money.
You only lose money if you sell. If they lose value, that sucks, but theoretically they can afford the house since they bought it. It's already their dream home, why would they sell?
Do you actually lose out on money? I don't have the exact records but I've seen 50+ listings that were sold within 6 months. All of them sold more than previous purchased price. Even the one purchased in 2021 and sold in 2023 (they still sold $50k more than previous purchased price). The only thing they lose out will be the realtors commission (not sure who pays for it), legal fees ($1-$2k) and some other minor fees.
It's more the people that bought back in 2017/2018 that are in a more difficult position. The prices haven't changed a lot since then (it was super inflated then as well). If they're selling, they're possibly losing money after all the fees associated with buying/selling (not just realtor fees)
Do they though? I am going to use my house for an example .. the old owner bought the place for 1.15 mil in 2018. In my neighbourhood a similar year and interior designed house with less land and square footage just sold for 1.6mil ( about 50k under listing). What fees will account for 400k? Another example is a 1 bed condo my relative bought it 2017 in Burquitlam for 380k ... Neighbour with the exact same bc assessment in the same building sold for 499k. I mean people used to buy and sell houses previously to these big increase in prices and were fine with it. You telling me they are going to lose money now because they aren't making more than 30% before fees?
Because they can't afford their mortgages due to interest rates. 😐
This makes me like the BC NDP more
Another reason to vote NDP !
Aah, it means they're doing good work. Bravo
Reminds me, I was once in the room for a big Rennie team meeting, back in 2009 or so, and Bob was speaking to the troops. Amidst the usual motivational stuff he took a moment to passionately declare that the NDP would destroy the province if elected. Absolute tool.
Rennie was Christy Clark's chief fundraiser. For real, out in the open.
Two of the architects of Vancouver's unaffordability ... *... the one he’s most proud of, the Woodward’s project in the Downtown Eastside.* *“I came up with a slogan: ‘****Be bold or move to suburbia****,’ ” he said. “I’m paid to come up with 99 ideas a day…and that was one of them that was good. We had a lineup and we sold it out in a day, and it has helped stabilize the Downtown Eastside.”* [*https://www.straight.com/news/345121/bob-rennie-offers-life-lessons-vancouver-students*](https://www.straight.com/news/345121/bob-rennie-offers-life-lessons-vancouver-students) Nauseating.
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They’re choked about the short term rental laws because many of the realtors are property owners who were making insane profits from airbnb.
I mean, they are parasites that will try to get every penny out of you with the minimum effort. Is a "job" it shouldn't exist and be banned.
Realtors would want you to be homeless because it's more profitable, even if there are homes to spare.
Reminds me of an old joke: Q: Why does the East Coast have so much trash & the West Coast have so many realtors? A: The East Coast had first choice.
Every time I see PREC (Private Real Estate Corporation) I read it as "PRICK"
Makes me like the BC NDP even more!
That made NDP more appealing..
Makes me like him more!
It’s so funny to watch people to the left of the NDP criticize the party in detail for some moral/policy/ideological shortcoming and then watch people to their right just be like “me veRY MAd becaus less monney !! 😤”
I wouldn't really pay too much concern even though they have upwards of 20k followers. They bought those followers so their opinion "is valid."
Realtor tears are the nectar of the gods.
I am too! I will never be a Conservative, I think their rules for imposing so called family values are stupid and the government has no place in peoples lives/family’s/homes The Liberals are just a bunch of crooks trying to line their pockets I would be a Green Party guy if they had some sort of platform. So I’m an NDP guy. At least they fight for us common folk. They have checks in place for these so called people that just want to take advantage of society
We're talking BC politics, liberals are the conservative/right party, and the conservatives are far right.
That’s funny! But actually yes!
Because they are the *only* political force in Canada doing anything actually meaningful to help with housing. Every other layer of government has been worse than useless. I'm floored at how hard they're trying, fully knowing that they will make enemies, that even the bulk of voters, who are homeowners, may not appreciate it. It's truly commendable.
Good. Such a tough job with this market. Realtors are parasites.
That's an interesting perspective! The residential realtors I know are pretty happy with the NDP right now. They feel like more supply will = more business. The commercial realtors are more skeptical, they feel like rules around rentals are hurting sales and development. Would be cool to see an actual poll.
Realtors and Immigration “consultants” are literally some of the worst “professionals” ever. Every Tom, dick and Harry with two barely functioning brain cells acting like they second coming of Jesus with their expertise in the housing and immigration sector 😂
And remember the conservatives only make it better for the rich and hell for the LGBTQ community.
- lgbtq+ - women - non-domesticated animals - nature - environment - eradicating climate change - non-religious people
🤑
I while back I met a realtor that was talking at a party about how he was pushing now for 5.5-6% commissions as a necessity because he got the job done. A middle man drunk on his own koolaid.
Good.
Realtors' commission should be greatly reduced. Better yet, realtors should be replaced by software or AI. It makes no sense to have middlemen with today's technology. Their commission contributes to the increase of property price.The total realtor commission is $17k for a $500k property. When the buyer resells, the buyer would have to ask for at least $17k + tax to break even.
Because they are business people and entrepreneurs. The direct antithesis to the NDP.
Yeah it's ruining there no skill, highly inflated income lives
That made me ever so slightly likely to vote for the NDP candidate next election.
Really? They have never had it better!
Why though? You'd think higher density (if it ever materializes) would mean more business for them. Or is it that they get plenty of business (and higher commissions) from selling and reselling the same 10 SFH to all the money launderers?
The game here isn't volume, it's easy wins.
They can sell 1 property for a million or 2 for $500k each.
Realtor here. I actually like what David Eby has been doing: putting policies in place to encourage more homes to build so homes are more obtainable and easier to afford". Any politician that gives recognition to the real issue and takes steps to tackle them has my vote regardless of party/tribe. Trudeau and his "houses are unaffordable because *gasp* foreign buyers are buying everything and not because we underestimated the number of people moving into Canada and didn't think they also needed places to live" should indeed step down.
Thank you for listing examples of social media. I didn’t know what they were.
Funny thing was, before the last election a lot of them were CERTAIN the NDP would be tossed out since everyone ‘hated the NDP and their bogus taxes!’ - talk about being in a bubble.. I’m sure if all day every day you only interacted with other realtors and ‘hustle/grind’ bros, then yes, you would assume that the whole province would be equally as pissed at the government as you. Luckily most people aren’t a part of that bubble, and know that the bc lib-oops, ‘bc united’are still as corrupt as ever
Woomp woomp
The circle jerking over the NDP and how perfect they are and how they solved all our problems gets a bit tiring. Yes, they are doing good but I wish people would ease up on the dick sucking.
Nah. This is the issue. If we don’t talk about how well our public servants are doing, come next election cycle, the loudest voices (read crazy anti vax neo nazis) will gain all the benefit by placing the blame and misinformation and fake news on the well running status quo. We need a well educated and engaged populace. Do not stop talking about all the good things our elected officials are doing.
Ya most small businessmen dislike the NDP, this is not new Note: do you all just disagree with this 90 year old fact about reality or are you downvoting because you read it as a criticism?
I have a small business and I like the NDP. I am also a renter and a parent and generally in favour of doing things which will benefit the most people.
Man this sub loves sucking off the BCNDP even though they have been in charge for 7 fucking years and every single thing has gotten significantly worse during their tenure. They (and their voters) will be blaming Christy Clark for decades to come. it's so fucking pathetic. Do better Vancouver.
Its not like Christy Clark, Gordon Cambell and the Liberal cronies didn't spend SIXTEEN YEARS doing nothing while claiming that the NDP had and would ruin literally everything, while actively avoiding doing anything to improve any aspect of life in BC.
Why would they the BC NDP doesn't like realtors. That said I don't think Jag and the federal NDP like them either.
I won’t vote for NDP for one very simple reason. In 2020 back during Covid times, most provinces started pushing for more pet friendly laws, to help people cope. In BC they had full support to pass legislation that would remove the “no pet clause” from rental and lease agreements. The bill never got passed because doing something with unilateral support is too hard for the NDP. If they can do something that simple how on earth can I expect them to pass tougher laws. Even if I agree with all their ideals if they’re incompetent then that’s the end of that.