Vancouver's Real Estate Market

[Euro7r]

I hate those that flex the "work whenever I want life" then they share they sold a presale. I'm like, you don't even get paid for this deal until completion LOL. Which is like 4 years down the road. You eating shit until then

[6thGear.]

Originally Posted by Badhobz

and you gotta pay taxes on that 10k... thats not a easy life man. Yikes

Start to finish minimum 2 months ( assuming 30 day close) before I see that money and payout is generally up to 2 weeks after possession.

Originally Posted by Euro7r

I hate those that flex the "work whenever I want life" then they share they sold a presale. I'm like, you don't even get paid for this deal until completion LOL. Which is like 4 years down the road. You eating shit until then

50% at contract signing 50% at completion for most developers. I've seen some desperate sales center offer up to 70% at signing.

[Badhobz]

my god... now i feel bad for ranting on realtors.

[6thGear.]

Originally Posted by Badhobz

my god... now i feel bad for ranting on realtors.

Don't feel bad. There's a lot of shit realtors out there. I won't take it personal.

[PeanutButter]

6thGear, you're a realtor?

Can you outline fixed expenses on a $1.5M house in Vancouver.
Like what would be the expenses that you have to incur.

Like:
Commissions (buyer and sellers agent)
Listing fee's
Brokerage fee's

[Manic!]

Originally Posted by JDMDreams

Where are you putting this? Like detached balcony or high-rise? I heard from a contractor guy that said for detached don't do it cuz it traps all the crap from trees and shit and clogs your drains. I guess it's ok for high rise as exterior isn't your problem

Condo or a deck attached to a house. A company from Vancouver that does this was on dragons den.

https://www.cbc.ca/dragonsden/m_pitc...tdoor-flooring

https://www.kandyoutdoorflooring.com/

[Rallydrv]

Originally Posted by Euro7r

I hate those that flex the "work whenever I want life" then they share they sold a presale. I'm like, you don't even get paid for this deal until completion LOL. Which is like 4 years down the road. You eating shit until then

I look at it this way, still good money for doing shit all.

[6thGear.]

Originally Posted by PeanutButter

6thGear, you're a realtor?

Can you outline fixed expenses on a $1.5M house in Vancouver.
Like what would be the expenses that you have to incur.

Like:
Commissions (buyer and sellers agent)
Listing fee's
Brokerage fee's

This is my breakdown. There may be others that charge more/less. These aren't standard rates, any realtor that says that can be reported to the board for price fixing. Commission is always negotiable. These are the basic fees. Peanutbutter, yes I am

Commission listing 7% on 1st 100k/2.5% on balance remainder

Listing agent split 3.745% on 1st 100k/1.3375%on remainder

Selling agent (proper term not buyer/buying agent) 3.255% on 1st 100k/1.1625% on remainder

Brokerage split = 20% on gross commission
Listing fee = $100
MLS fee (when sold) =$200
Title search = $50

Strata
Strata minutes/bylaws = $150-$500 depending on Strata
Form B = $50
Form K = $50

Single detach
Building plan = $200
Survey Plan = $100
Survey Plan (if bank requires new) = $1000
Comfort letter (oil tank/illegal structure/etc) $200-300 city dependant.

Then there's the additionals
Lawyer/notary =$1500 (another $1500 if also buying)
Staging = $1000 + (can run upwards of $5k depending on size of property. Also those staging companies charge an arm/leg)
Pictures = $150
Matterport = $125
Video = ?? (I've actually never ordered one so not sure on cost)
Floorplan = ? Pointless if there's matterport
Cleaning crew = $200 - $400 size/dirtiness dependant

Then there's fixing issues on the property (there's always something and obviously should be within reason). Whether it doesn't look good /something broken prior to listing or after an inspection (there's as much subject to inspection as to no subject). Had it run from a few hundred to a couple grand(a can of worms were open)

Lastly if the listing was a referral then more often than not that person would be expecting a referral fee back. Could be $500-$3k

Everything above is all negotiable but not all realtors will negotiate and some do the bare basics(which I think they should be giving up a kickback) at that point.

[JDMStyo]

Like most businesses it's the 80/20 rule - 20% or even 5% of the top realtors get bulk of the businesses. As in $500 - $1M gross annually

But with technology and remote access these days - floorplan, video, photography and lots of the cost listed above can easily be done by a tech savvy realtor or outsourced pretty cheap.
With how competitive it is for realtors now (tons of new shops), I know XPRealty (Herbal Life of real estate, LOL) and Nustream offer free photography and Matterport.

Commission back - your call on that but if its' a presale I usually send back $1-2K but if it's a competitive project then probably not.

[JDMStyo]

Originally Posted by underscore

The weird thing is I'll see a floor plan all the time for cheaper places, but not for high end places.

Matterport for our clients are free (some co used to charge $350-500) and I throw in a CAD measured plan.

There's some great professional grade apps like MagicPlan with AR rules on Appstore worth checking out.

[JDMDreams]

Do most people stage when they sell? A lot of the listings I see have matching furniture and doesn't have any stuff that you will actually need to live with. How do they do that? Move out then sell?

[Gumby]

Originally Posted by JDMDreams

Do most people stage when they sell? A lot of the listings I see have matching furniture and doesn't have any stuff that you will actually need to live with. How do they do that? Move out then sell?

If I was selling my place, I wouldn't go as far as getting matching furniture and having the place professionally staged. However, I would clean up any messes (clothes lying around, kitchen/bathroom counters, etc.) and make the place look attractive! This needs to happen when you take pictures, and if/when you have open houses.

It's just like selling anything else, such as a car. Take good photos, provide a clear description of what you're selling, etc. I see too many crappy listings nowadays; fewer and fewer people putting effort into what they're doing...

[BIC_BAWS]

I just want to buy the staging company's furniture lol. I'd love to be able to make zero decisions on interior design and for it to just flow together perfectly.

[supafamous]

Originally Posted by JDMDreams

Do most people stage when they sell? A lot of the listings I see have matching furniture and doesn't have any stuff that you will actually need to live with. How do they do that? Move out then sell?

We staged by doing a very thorough cleaning and decluttering of our house - we moved the equivalent of 2 bedrooms worth of stuff out and then had to hide a lot of our daily use stuff like our coffee grinder, water boiler, etc. Our agent then brought a lot of stuff to decorate the place - art, blankets, pillows, chairs - stuff to make it looked staged but lived in. They even re-organized the books on our shelves to get the right look.

It was kinda hell for a couple weeks (till we closed) as we had to keep the house in that condition while we lived in it - every morning we'd have to hide stuff and clean up. We ordered out for food the whole time cause it was too much of a pain to clean up the kitchen every day.

I'd say it resulted in us selling the house for an extra 50-80k though.

I'm kinda stunned at how many people don't bother cleaning up their houses for the photo shoot or don't bother decorating properly - yes, it's a pain but you'll get more money for the house as a result.

[Gerbs]

Originally Posted by Gh0st

some more info would be nice.. what are the $ ranges? and size of brokerages? # of realtors in said brokerages that are clearing those numbers?

Small sample size but there's 11 in total.

3 - Sub $75K (P/T, some are stay at home mom's)
4 - Between $110 - 140K
2 - Between $150 - 180K (5+ years)
2 - $475K + $180k in property management (8 years of consistent income)

All are net of brokerage expenses + referrals

None of these include tax + personal expenses + car + gifts + kickbacks. I just hate it when realtors complain about taxes like us normal working normies don't have to pay them either.

I think my life has a lot of bias though. All my friends somehow are in the top 1 to 10% of their careers lol. I'll meet some friends where none of their friends are doing well. It just feels like I'm surrounded by wealth so I feel like every realtor is doing insanely well when in reality 80% of the transaction go to the top 10%.

[Gerbs]

Originally Posted by donk.

You forget this thread is full of 0.1%ers, nothing but the best for them!

All 6'ft chads making $250K+ a year.

Jks, we all go ���������� at car meets

Originally Posted by 6thGear.

Could be $500-$3k

If you're offering up to $3K back for referral, I might start referring to you instead of back to my brokerage lol-

[EvoFire]

Originally Posted by JDMDreams

Do most people stage when they sell? A lot of the listings I see have matching furniture and doesn't have any stuff that you will actually need to live with. How do they do that? Move out then sell?

We staged with our own stuff. Wife joked that we were living in a show home and it was a pain in the ass. Couldn't even cook breakfast otherwise that would cause a mess. We moved 6 car loads of stuff to my parents storage so we can make it look good and not have stuff fall on ppl when they opened the closets.

Would have been a lot easier if we didn't have a 2 year old in the house and all the 2 year old stuff.

[Hondaracer]

Sounds like you guys gotta get rid of some shit! Lol

I could spend a day cleaning and our house would be good to go for a showing. I’m the anti-hoarder lol

[EvoFire]

Originally Posted by Hondaracer

Sounds like you guys gotta get rid of some shit! Lol

I could spend a day cleaning and our house would be good to go for a showing. I’m the anti-hoarder lol

We had 3 years worth of clothes for the kid due to hand me downs and stuff. Plus the smaller the kid the bigger the stuff. We actually have less stuff now in a bigger house than we did in the townhouse.

[Hakkaboy]

Originally Posted by EvoFire

We had 3 years worth of clothes for the kid due to hand me downs and stuff. Plus the smaller the kid the bigger the stuff. We actually have less stuff now in a bigger house than we did in the townhouse.

100% confirmed, plus this gets even worse when you have to travel.

[EvoFire]

Originally Posted by Hakkaboy

100% confirmed, plus this gets even worse when you have to travel.

We went to Victoria in Mar 2020 and then in Mar 2022. Same X3, 6m old first time and 2.5yr old second time. So much easier to pack for and I didn't have to pack the trunk sky high.

[supafamous]

Originally Posted by EvoFire

We went to Victoria in Mar 2020 and then in Mar 2022. Same X3, 6m old first time and 2.5yr old second time. So much easier to pack for and I didn't have to pack the trunk sky high.

Yup, no playyard/crib, no giant stroller, no bouncer. I was loaded to the gills in my RDX when she was 6 months. My kid's 3 now and we don't bother bringing the stroller with us anymore, it's just for getting her to school.

Same goes for the house though a lot of it has accumulated (can't give it away fast enough).

[GLOW]

the older they get so much less to pack, you get much more space & freedom.

imagine trying to lug around a side-by-side stroller in the back of an accord so glad those days are gone.

[Euro7r]

https://dailyhive.com/vancouver/park...r-viral-videos

Do we blame it on poor city planning LOL? Idiot people, publicly called out for preventing neighbour parking on a city street (typical clown that thinks the space in front of their house belongs to them). Business & job in jeopardy now when are you publicly shown being inconsiderate a-hole. Of course there is always two sides to the story and we don't know the full details. Such as the person parking could always be parking there for extended periods of time, beyond the 3-hour limit unless parking in front of home/business you own etc. If I were the lady, I wouldn't park there, what if home owner in retaliation decides to mess your car at middle of night lol

[bcedhk]

I think the guy owns like 5 cars and hogs the whole on-street parking in front of his house.

Our streets would be much less crowded if SFH owners actually use their garages to park their cars and not use it as a storage room.