Vancouver's Real Estate Market

[underscore]

It also makes it easier than ever for people to quickly contact loads of landlords, it only takes a couple seconds of their time and there's no downside to them trying to go for a place they're not likely to get selected for.

[blkgsr]

Originally Posted by SSM_DC5

Was it listed at 2k for 7 months? Cuz damn son, maybe it's time to drop the price to get more interest instead of trying to squeeze one extra meal per month.

And I do similar to anyone who wants to have too many people. "my suite is not suitable for # people." then they usually don't message me again.

the price is fair and there hasn't been a lack of interest...it's the people that are interested i don't want living there. I've turned away a lot of people. i've been through shitting tenants at my old house in various forms. not doing that again. there's too many condo's on the market

[68style]

Sounds like it’s time to make a bombass man cave then! Fuck having some loser living under your floors and having to watch what you do and when you do it.

[blkgsr]

i've got a room to the side i can turn into a man cave if i wanted so all good lol

the cash would be ideal, just don't want some jackasses i regret down there

[sdubfid]

Are there lots of mli select builds going up in the lower mainland? I know in the okanagan there are at least 1000 units coming online soon which will make a difference.

[dat_steve]

a lot of developers have made use of MLI select financing when the program started (3-5 years ago?). It was one of the few levers available to make rental projects remotely financially feasible then. The catch was that they had to break ground pretty quick so I imagine a few of those projects are done/completing around this time.

[JDMDreams]

Whats mli?

[winson604]

Originally Posted by JDMDreams

Whats mli?

Mortgage Loan Insurance

[Manic!]

More info on this property https://www.rew.ca/properties/13283-56-avenue-surrey-bc

It's a foreclosure with the owners still living there. On the 7th it went to court with a 6.1 mill offer. The judge said the property did not get enough exposure because the owners where making it difficult to see it. So he put it back on the market. Showings were planned to happen every second Sunday. Looks like the owner is still being difficult and no one has been able to see it. The pool has also not worked in years.

[SiRV]

Anyone ever try selling a home on their own? I feel like there really is a realtor cabal preventing people from seeing our propertyevem though it’s competitively priced in a highly active area

[westopher]

Originally Posted by SiRV

Anyone ever try selling a home on their own? I feel like there really is a realtor cabal preventing people from seeing our propertyevem though it’s competitively priced in a highly active area

I did in edmonton.
Was listed for 3 weeks with comfree (commission free) and not one single person came to look, the sign was torn down multiple times and shittier units in my condo sold in that time. Got a realtor and it was sold in a week. There was absolutely realtors refusing to show it to their clients.

[GLOW]

sounds like a cabal alright

[mikemhg]

That's def a cabal.

If you need a cabal to keep your industry/career relevant, it's not a real career.

[Hondaracer]

I’ve heard of stories of realtors intentionally sabotaging or like blatantly guiding potential buyers away from listings where the buyers agent commission was low, so it’s not hard to believe they have a secret pact to avoid owner/sellers

When we sold our condo I had Dorris Gee come through who pulled up in a brand new Cayenne Turbo and probably has more money than she knows what to do with and even she was like.. I don’t really care about commission at this point but we need to set buyer commission at X or no one will even come through, and she obviously has sway and pull in the Burnaby r/e game

[68style]

I feel like I was the last person in the lower mainland to actually sell a condo (exaggeration of course but geez the market is bad) and the buyers agent asked for a 2.5% increase in their commission in the offer on behalf of their fucking buyers… and he would not back down from it… like his buyers could have lost the place cuz he wanted more money to bring them to the table AND they signed off on it???

I mean that’s fucking ridiculous you’re not even representing your client anymore. I flat out refused and my agent wanted the sale to happen so he gave it up out of his commission. That wasn’t fair either selling agent does all the work and costs (staging, photos, listing, drone) and gets less than some dipshit who just reps a buyer? What a fucked up industry.

[Hondaracer]

lol like what is that request other than “give me money”

You’ve done nothing extra at that point you just have your hand out looking for more $$? lol fucking insane

[blkgsr]

Originally Posted by 68style

I feel like I was the last person in the lower mainland to actually sell a condo (exaggeration of course but geez the market is bad) and the buyers agent asked for a 2.5% increase in their commission in the offer on behalf of their fucking buyers… and he would not back down from it… like his buyers could have lost the place cuz he wanted more money to bring them to the table AND they signed off on it???

I mean that’s fucking ridiculous you’re not even representing your client anymore. I flat out refused and my agent wanted the sale to happen so he gave it up out of his commission. That wasn’t fair either selling agent does all the work and costs (staging, photos, listing, drone) and gets less than some dipshit who just reps a buyer? What a fucked up industry.

that should have been reported to their joke of an association...or the media

[JDMDreams]

Well the condo market is shit right now. How do you know if the listing is a foreclosure, just have to look at the house or get in contact with the selling realtor?

And how can the judge say $6.1 isn't a good price, sounds pretty fair in this market for a as is deal. Is he gonna cover the losses if it doesn't sell? Sounds like the owner will trash the place before they move out since they loss their ass anyways.

[6793026]

Originally Posted by 68style

I feel like I was the last person in the lower mainland to actually sell a condo (exaggeration of course but geez the market is bad) and the buyers agent asked for a 2.5% increase in their commission in the offer on behalf of their fucking buyers… and he would not back down from it… like his buyers could have lost the place cuz he wanted more money to bring them to the table AND they signed off on it???

I mean that’s fucking ridiculous you’re not even representing your client anymore. I flat out refused and my agent wanted the sale to happen so he gave it up out of his commission. That wasn’t fair either selling agent does all the work and costs (staging, photos, listing, drone) and gets less than some dipshit who just reps a buyer? What a fucked up industry.

It's the market. Cash is king. My dad did it for many years and yeah.. he said, it's better to eat can of beans than to not eat at all. If you don't close, they will cut you and find a new realtor in 3 weeks.

On the other side, wine and dining buyer to buy a condo also takes skill. Had A hole clients which just to see 1 apartment in Van just to "please drop me off at Riverrock casino" knowing fully realtors were taken advantage of.

Dad learned soon enough to say no, 4 listings and drop u off at home or skytrain... etc. Realtors do learn quick.

During tough times, my dad woudl write in hidden realtor notes that bonus were provided to buyer agents just to help sell faster (and that we signed off by sellers during good times) so u don't screwed with just a $500 commission after a tough squeeze.

[Gerbs]

liekly rebated to client

[HonestTea]

Annual rent increase falls for second straight year capped at inflation

https://news.gov.bc.ca/releases/2025HMA0067-000786

[mikemhg]

^"Wahhhhhhh, we're doing nothing, and nothing is working"

[JDMDreams]

Bullshit, inflation and property tax increase/ maintenance fees are more than 2.3%

[whitev70r]

^ I agree. This means that a $2000 unit that you are charging as landlord, you can now charge $2046.00. I guarantee you that it cost more for you to maintain that apt or condo!

[westopher]

You can always sell it.