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https://www.cbc.ca/amp/1.6209706 A while ago I asked in this thread whether the extra 2% or so in selling realtor fees was actually worth it. CBC apparently just done an investigation on it and the results are in. They found that the real estate industry as a whole functions as a cartel and will actively and illegally steer buyers away from your home, even if the buyers specifically asked to see your home, if your commission too low. These bastards are in severe need of regulation.
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Oct 17, 2021 10:58
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There was an article about a year or two ago about a guy trying to sell his house in Calgary when the market was dead and falling - he had no views and then decided to up the buyer's commission from 2.5 to 4%. Sold the place in like 1 week for like 5-10% more than he was willing to take originally.
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Oct 17, 2021 14:56
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I wonder how much more money you could get by upping your buyers commission to like 5% and just relying on the sheer greed of realtors to somehow convince all their clients to win the bidding war on your place.
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Oct 17, 2021 20:19
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Franks Happy Place posted:I wonder how much more money you could get by upping your buyers commission to like 5% and just relying on the sheer greed of realtors to somehow convince all their clients to win the bidding war on your place. That could actually work pretty well I think. We needed a realtor for the simple distances involved in our purchase but we were the ones suggesting houses we were interested in. Are there actually a lot of people that just don't do any looking themselves and go completely on what their realtor brings to them? Because that's crazy.
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Oct 18, 2021 13:30
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Fidelitious posted:
Most of them.
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Oct 18, 2021 13:56
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Half the poo poo my realtor is bringing to me is already sold, and that’s an automated system running on MLS.
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Oct 18, 2021 16:19
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There needs to be a sliding scale on commission. The higher the sale price from the listing, the greater the seller's commission and lower the buyer's. Selling agents who list the house too low in hopes of getting a higher commission will be hit by fewer Buyer's agents wanting to see the house as they want to avoid a bidding war.
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Oct 18, 2021 16:28
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Imagine getting paid a yearly salary just to fwd some emails and send a few docusigns oop sorry the selling agent also writes lies in full caps for the description blurbs forgot about that one.
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Oct 18, 2021 17:07
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Slotducks posted:Imagine getting paid a yearly salary just to fwd some emails and send a few docusigns You're giving too much credt, my realtor has some automatic system that forwards property's based on criteria we told them.
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Oct 18, 2021 22:29
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I'd like to see realtors get wiped out on an inevitable housing crash, but the fact is they've already made off with the cash in hand, presuming they haven't spent it all on boats or expensive real estate themselves or whatever else scumbags like that tend to waste their life savings on.
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Oct 18, 2021 23:37
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I just wonder how to get around it now that they're so ingrained. There are small forays into bypassing them with the direct bidding websites and things like PurpleBricks (which still has realtors). The problem is that they are self-protective so agents don't show buyers the FSBO or purplebricks houses because of course their commission will be impacted, and they also don't want to normalize someone doing a real estate transaction without a realtor. Gotta pay the real estate mafia if you want the best selection of houses or buyers.
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Oct 19, 2021 13:30
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An agent is really helpful when you are flying into Toronto Friday morning and need to move on Monday. Other than that I can't imagine using one.
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Oct 19, 2021 14:15
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Guys, I've got a solution: Squid Game but for houses
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Oct 19, 2021 15:07
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Slotducks posted:Imagine getting paid a yearly salary just to fwd some emails and send a few docusigns Wait, your realtors don't come out with you to houses and crawl with you through really strange things that weren't in the photo while laughing and saying "This is never going to sell!"? You are missing out Canada.
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Oct 20, 2021 01:18
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AtomikKrab posted:Wait, your realtors don't come out with you to houses and crawl with you through really strange things that weren't in the photo while laughing and saying "This is never going to sell!"? Lol the current situation in Canada is that you live with the strange things that weren't in the photo, and if you even try to get the place inspected the sellers will just go with someone who's OK without. Who cares? The value's all in the land anyway. It's not like you're planning on living in that house, right?
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Oct 20, 2021 01:44
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Who even looks at the house in 2021? Whatever is there is probably going to have a date with a bulldozer anyways
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Oct 20, 2021 03:40
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Looks like the Kiwis finally gave up on trying to solve their problem by simply banning foreigners and other demand side action. They're gonna ban exclusive SFH zoning in the major cities and are increasing the max density of what is allowed on every residentially zoned lot. https://twitter.com/GreaterAKL/status/1450235400572702725?s=20 This is a real bold move. I don't think I've seen any other government anywhere make such a radical "overnight" change like this. A few US states have banned SFHs and legalized duplexes/fourplexes everywhere, but that's not on the same scale as this at all. Will be interesting to watch the results.
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Oct 20, 2021 05:51
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Lead out in cuffs posted:It's not like you're planning on living in that house, right? Nice thread title suggestion
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Oct 20, 2021 08:51
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Femtosecond posted:Looks like the Kiwis finally gave up on trying to solve their problem by simply banning foreigners and other demand side action. They're gonna ban exclusive SFH zoning in the major cities and are increasing the max density of what is allowed on every residentially zoned lot. drat that's pretty cool. I can just imagine the fury of the oldsters if they banned SFH zoning in Ottawa, good lord. Although of course Ottawa encompasses a massive area so it's not like it would have to be done across the entire city. They lost their minds over a proposal for a single big tower near Dow's Lake as it will "ruin the character of the neighbourhood" and apparently turn Ottawa into Toronto. I'm one to talk of course, living in a heritage district, absolutely no densification can occur anywhere near me.
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Oct 20, 2021 13:16
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qhat posted:I'd like to see realtors get wiped out on an inevitable housing crash, but the fact is they've already made off with the cash in hand, presuming they haven't spent it all on boats or expensive real estate themselves or whatever else scumbags like that tend to waste their life savings on. The ones who already got rich from 2010-today already won the ones who get screwed are prob the people who got their RE licenses late in the game "because that's where the money is" because they are now worthless There's crap loads of the latter, I had a relative who told me very very confidently that I need to go into real estate and learn to renovate houses or sell houses asap because "that's where the money is". I got a feeling a lot of people who graduated college with unemployable degrees signed up over the last 2-3 years.
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Oct 20, 2021 14:29
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There are an absolute shitload of realtors with postgrad degrees. I know this because it's always front and centre on their business cards. I assume they're 90% overachievers who have otherwise failed at life, like anyone that joins mensa and then won't shut up about it.
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Oct 20, 2021 14:43
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Typo posted:I had a relative who told me very very confidently that I need to go into real estate and learn to renovate houses or sell houses asap because "that's where the money is". I got a feeling a lot of people who graduated college with unemployable degrees signed up over the last 2-3 years. This is about as close as you'll ever get in real estate to getting stock tips from the shoeshine boy.
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Oct 20, 2021 14:56
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Cold on a Cob posted:There are an absolute shitload of realtors with postgrad degrees. I know this because it's always front and centre on their business cards. I assume they're 90% overachievers who have otherwise failed at life, like anyone that joins mensa and then won't shut up about it. I assume there's gotta be a "Dr. Flipper" realtor out there.
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Oct 20, 2021 15:37
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Lobok posted:I assume there's gotta be a "Dr. Flipper" realtor out there. doctorate-level marine biologist with a beach front property niche
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Oct 20, 2021 15:44
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tagesschau posted:This is about as close as you'll ever get in real estate to getting stock tips from the shoeshine boy. my friend told me "it's always good time to buy a house it will always go up at worst stay the same"
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Oct 20, 2021 15:49
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Typo posted:my friend told me "it's always good time to buy a house it will always go up at worst stay the same"
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Oct 20, 2021 15:55
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B33rChiller posted:It's even more impressive when you hear it coming from someone whose parents had their house foreclosed upon in the early 90s. housing prices actually did fall in 2018 so apparently he forgot even what happened 3 years ago
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Oct 20, 2021 16:01
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Typo posted:housing prices actually did fall in 2018 Barely. A 3-5% drop doesn’t scare people, it’s the 30-50% drops that people think are impossible.
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Oct 20, 2021 17:17
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Typo posted:my friend told me "it's always good time to buy a house it will always go up at worst stay the same" My grandparents' condo in the States lost 50% of its value from 2006 to 2013, so, uh, good luck to your friend with that theory.
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Oct 20, 2021 17:56
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tagesschau posted:My grandparents' condo in the States lost 50% of its value from 2006 to 2013, so, uh, good luck to your friend with that theory. Eta we're obviously better more smarter and good looking people than those fools down south. This is 🇨🇦. Nothing like that can happen here. B33rChiller fucked around with this message at 18:22 on Oct 20, 2021 |
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Oct 20, 2021 18:20
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My favorite housing knowledge havers are the one who say interest rates will never go up again.
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Oct 20, 2021 18:50
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Lol if you think rear end in a top hat boomers are angry about Senakw, wait until they see the plans for ʔəy ̓alməxʷ / Iy ̓álmexw. https://syc.vancouver.ca/projects/jericho-lands/jericho-lands-phase-3-engagement-boards-section-5.pdf
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Oct 20, 2021 19:06
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I don't think boomers specifically are the issue there, the issue is the ultra rich fucklords who don't want poor people on their doorstep.
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Oct 20, 2021 19:18
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tagesschau posted:My grandparents' condo in the States lost 50% of its value from 2006 to 2013, so, uh, good luck to your friend with that theory. And how has it done since 2013?
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Oct 20, 2021 19:37
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leftist heap posted:And how has it done since 2013? Still not back to 2006 levels as of 2020. And this is after it was sold to someone else and they apparently did a lot of renos.
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Oct 20, 2021 20:25
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Some realty in Canada done a study recently to prove that owning is cheaper than renting (guess what conclusion they came to) and they estimated monthly maintenance costs to average $60/month, which was loving hilarious since that's basically the cost to replace a roof once every 25 years. Apparently boilers and strata and electrics and foundations and renovations and depreciation doesn't exist. Even the insurance for damage by natural disaster has a higher monthly than that.
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Oct 20, 2021 20:49
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Lead out in cuffs posted:Lol if you think rear end in a top hat boomers are angry about Senakw, wait until they see the plans for ʔəy ̓alməxʷ / Iy ̓álmexw. This thing loving owns. Nice to see some goddamn new housing on the west side of Vancouver for once. The lands are owned by the three local First Nations (who bought the ex-military housing lands from the Feds) but it's not reserve land, so it does have to go through usual city processes, unlike Senakw, where the Squamish can build whatever the f they want. I've seen some yimbys compare this unfavourably to Senakw, noting the density of Senakw, but imo that seems pretty drat naive. Senakw is a tiny area and only like what 5-8 buildings or something? Not a big deal to build. This area is loving massive. Even at these "low" densities this project is gonna double the population of the neighbourhood. This project is gonna be multiple buildings phased over a long time. It's a massive endeavour. If they tried to do this at Senakw densities, the scale would be so big tbh I don't think it would be economically feasible. I don't think it's city planners holding back the density here.
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Oct 21, 2021 04:02
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https://twitter.com/TOAdamVaughan/status/1450876702188621828 please, won't someone think of the small cap reits
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Oct 21, 2021 12:44
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If you're only small in comparison to BlackRock then I'm going to venture that you're not actually small. Anyway, I guess this means that Toronto doesn't have any AirBnb regulations akin to Ottawa? Ottawa banned short-term rentals in anything except primary residences and you still need a permit for that. Also, that Jericho lands plan looks great. Are there any updates on what they're doing with south false creek?
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Oct 21, 2021 13:18
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They're legal in Toronto but only if it's your primary residence, so all those ghost hotels and investment properties are illegal as gently caress. Wonder if it's being enforced at all. 
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Oct 21, 2021 13:24
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