Vancouver's Real Estate Market

[PeanutButter]

Originally Posted by BIC_BAWS

You have to pay GST on everything here. And it's not like the realtor gets to keep the money (which I have to explain to every single business owner). Everybody collects GST on behalf of the government and must remit it on a monthly/quarterly/annual basis, less ITCs (expenses).

If they didn't charge GST, they would have to pay out of pocket for the GST remittance expected. Aren't you a PT? Clients should be paying GST on your invoices too.

I only said that because I feel like realtor commissions are high enough, paying GST on the commissions is like rubbing salt in the wound. I am more annoyed than anything, I realize it's not the realtors fault for GST.

My buddy just got an accepted offer on a detached house in Van, $2.1M. Seller has to pay out ~$57k in commissions. It's crazy to think commissions haven't been overhauled since the price of homes have gone up 20x in the span of 35 years.

Also, there's no GST on healthcare, except for RMT (which is stupid).

[Eff-1]

I too have a better appreciation for the work a realtor does now that i've gone through this process.

But I would be in favour of commissions being adjusted for regional differences so that a realtor in Edmonton or Regina is paid similarly to a realtor in Vancouver or Toronto for doing relatively the same work.

[Gerbs]

Imagine selling a $450K Edmonton 2,400sqft home 1995 build and paying the realtor $57K in commissions to sell it in 4 weeks lol

The oil boyz will riot and protest

[blkgsr]

realtor commissions are a joke, end of story.

i'm selling mine and our realtor is an acquaintance through the gym, so he's lowered his commission on the sale of my house as he knows he's going to get his cut on the house i buy.

he's waving the 3.225% on the first $100,000 (saves $3500) part then going 1% on the rest....still roughly $15,000 for what?

[unit]

some purchases are really simple and the realtors make out like bandits, but other times like 6thgear said the clients have the realtor show up dozens of times to houses, thousands of text messages, hundreds of calls, have to always be somewhere on time, etc.. i think there should be some way to make it fair for all parties.

[PeanutButter]

^Honestly, that's still pretty good to be offered that. I asked an acquaintance if he would give breaks on his commission and he said he doesn't give discounts because of livelihood, expenses, his expertise...etc.

So I went with a redfin agent and saved about $7k.

Then the acquaintance had the audacity to bring up that we didn't use him and I told him I got a discount from someone else.

[6thGear.]

Originally Posted by donk.

But how many total hours did you spend actually doing work

I honestly won't be able to pinpoint the exact hours I "worked". But this specific client it was showings every week (OH on weekends/weekday/night showings). We wrote 3 offers in that time frame, each time going over strata docs (takes about 4 hours) then writing up Strata docs summary, then reviewing with the client. On top of that, the parents were paying the depositl, which means I also had to speak with the Asian mom all the time. Come possession, the sellers ripped out there California closets and didn't replace the closet hangers back up. So I ended up filling the holes/repainting closet walls and installing closet hanger rods back in. (Single child/bf was useless) Was that worth my pay? Well, that depends on who you ask

Originally Posted by unit

some purchases are really simple and the realtors make out like bandits, but other times like 6thgear said the clients have the realtor show up dozens of times to houses, thousands of text messages, hundreds of calls, have to always be somewhere on time, etc.. i think there should be some way to make it fair for all parties.

It isn't just about opening doors and showing but what other added value does an agent bring. Old school agents are hands on, jack of all trades, knowledgeable about everything but not an expert. That's the agents I trained under. There's lot of agents who also strictly push buy/sell and won't lift a finger to help solve problems.

[donk.]

Originally Posted by unit

i think there should be some way to make it fair for all parties.

Hourly wage

[PeanutButter]

stupidly, I never thought to ask RS for realtor representation. I'm sure I would have gotten a deal here.

[EvoFire]

Originally Posted by 6thGear.

I honestly won't be able to pinpoint the exact hours I "worked". But this specific client it was showings every week (OH on weekends/weekday/night showings). We wrote 3 offers in that time frame, each time going over strata docs (takes about 4 hours) then writing up Strata docs summary, then reviewing with the client. On top of that, the parents were paying the depositl, which means I also had to speak with the Asian mom all the time. Come possession, the sellers ripped out there California closets and didn't replace the closet hangers back up. So I ended up filling the holes/repainting closet walls and installing closet hanger rods back in. (Single child/bf was useless) Was that worth my pay? Well, that depends on who you ask



It isn't just about opening doors and showing but what other added value does an agent bring. Old school agents are hands on, jack of all trades, knowledgeable about everything but not an expert. That's the agents I trained under. There's lot of agents who also strictly push buy/sell and won't lift a finger to help solve problems.

You sound like the type of agent that actually puts in the work and try and make a sale.

A friend of mine who's also an agent, I asked him what he was up to one time and he said he was gonna be in my area. I told him let's go have lunch and he told me no. He had signed on to sell a house in my area, but the owner was a hoarder. He brought his whole realtor team in and spent 2 days tidying up and getting rid of junk so the house was presentable. Sold it in a week.

This was back when it was crazy in 2021 and houses literally sold themselves, but they still put in the extra hours and physical labour to trying get a better price for their client. How much more did they get? It's hard to quantify tbh but the effort was there.

[quasi]

Originally Posted by PeanutButter

I only said that because I feel like realtor commissions are high enough, paying GST on the commissions is like rubbing salt in the wound. I am more annoyed than anything, I realize it's not the realtors fault for GST.

My buddy just got an accepted offer on a detached house in Van, $2.1M. Seller has to pay out ~$57k in commissions. It's crazy to think commissions haven't been overhauled since the price of homes have gone up 20x in the span of 35 years.

Also, there's no GST on healthcare, except for RMT (which is stupid).

This is the issue right here. There are agents out there that are worth more than others, I felt last time we sold my agents were pretty useless for the most part. We had two open houses, never communicated either with me found out about them on MLS. Besides that all they did was coordinated showings with other agents but were never there themselves. On the buy end they were even worse, took forever to get me into places I wanted to look at, I ended up finding my own house.

Next time I sell I'm going to be so upfront with the agent on what my expectations are. I'm also not doing random showings during the week, such a pain in the ass. I'll give them two days and time windows a week one during the week and one on the weekend for showings, that's it no random showings during dinner time on Tuesday night.

[Badhobz]

I didn't to pick my agent. Spy Ballon picked some mo

[6thGear.]

If some of you are so upset at realtor commission, you should hire 1% Realty for your services

[68style]

I don't personally think 1% is the answer... but you have to admit in a time when houses are 20x the cost they used to be... nobody else's salary went up 20x too.

That said, because of the lurcative % a tonne of people enter into the business and wash out all the sales so it's hard to say. There should have been some balance put in to maintain better integrity in the real estate broker licensing process and how many realtors are licensed/how they are licensed/how they do business.

[PeanutButter]

Originally Posted by Badhobz

im just mad I didn't get to use that blow job realtor

Punjabi guy at work told me that he's heard stories in the indian community where uncles will hold interviews with female realtors and let them know they want extras if they want the privilege of selling their house.

I can totally see this happening. I know of three women who have been molested when they were kids and they were all Punjabi girls. Apparently, this isn't uncommon in that community, but it's only anecdotal.

[mikemhg]

^I believe this is definitely true.

I know a number of gals that used to be escorts, bottle service girls, sugar babies, that have pivoted into RE after getting their license after multiple failed test attempts.

Some are still actively in the escort service, while in RE.

[JDMDreams]

^^ will how else do you afford cactus club bro

[GLOW]

by workin at cactus club too?

[Gumby]

Originally Posted by mikemhg

^I believe this is definitely true.

I know a number of gals that used to be escorts, bottle service girls, sugar babies, that have pivoted into RE after getting their license after multiple failed test attempts.

Some are still actively in the escort service, while in RE.

So convenient to re-use their escort profile pic as their RE profile pic!

[bcrdukes]

Originally Posted by Gumby

So convenient to re-use their escort profile pic as their RE profile pic!

Gotta save on photography costs!

[68style]

That moment you ask her if she needs a new headshot and her response is to tell you to have a seat and takes a scrunchie out.

[bcrdukes]

Sig'd. Thank you.

[Hondaracer]

Remember to have some post-nut clarity before meeting your realtor on site

[Liquid_o2]

Originally Posted by 68style

That moment you ask her if she needs a new headshot and her response is to tell you to have a seat and takes a scrunchie out.

Should she be putting the scrunchie on?

[68style]

Oh man... tell me you never had an enthusiastic BJ without telling me you never had an enthusiastic BJ