Comments on: Canadian Real Estate Is A Brand. Here’s How Developers Are Trying To Retain The Image

By: The majority of real estate up for sale in Toronto and Vancouver are seeing bidding wars - World News Job

Fri, 29 Jun 2018 03:23:59 +0000

[…] 42.31% of Montreal buyers felt foreign buyers had a strong influence. Foreign buying is actually a part of the development strategy in cities like Vancouver, but they always tend to show up in droves when local credit expands – just like in the late […]

By: The majority of real estate up for sale in Toronto and Vancouver are seeing bidding wars

Fri, 29 Jun 2018 00:21:38 +0000

By: CMHC: 55% of Toronto and Vancouver Real Estate Buyers Were In A Bidding War | Better Dwelling

Wed, 27 Jun 2018 13:35:19 +0000

By: The Lauderdale Paradox, And Artificial Scarcity In Canadian Real Estate | Better Dwelling

Fri, 23 Mar 2018 09:30:20 +0000

[…] increased their offerings overseas, despite significant domestic demand. This is a process known as massification, and it’s a method employed by luxury brands to create artificial […]

By: Fiendish Thingy

Fiendish Thingy — Sun, 10 Dec 2017 18:44:32 +0000

And this exactly why the bulk buyers will head for the exits as the new stress test takes effect, eliminating tens of thousands of the very entry level buyers the condo markets depend on. In addition the 20% reduction in borrowing power of the remaining buyers who can qualify under the new rules will cause a domino effect, bringing condo prices in some areas (Surrey, Maple Ridge) down by 50% or more over the next few years…

By: MH

MH — Sat, 09 Dec 2017 02:01:28 +0000

In reply to Agent X.

Yes, this is exactly the right thing to say. And if the counterparty tells you that they have no time for your lawyer/experts to review the deal, walk away without looking back. At best, you are on the receiving end of the predatory sales tactics at worst the deal is shady.

Also make sure that your negotiation process is slow and extremely boring. If you see cliffhangers like “8pm at night during a key phase in the property negotiation”, chances are that you are watching a show staged by “competing” agents. And you are paying for it.

By: Agent X

Agent X — Fri, 08 Dec 2017 19:32:30 +0000

In terms of using a lawyer for your transaction..sure, of course you can, nothing’s stopping you..

But when your buying a property or selling a property, your not going to say to the opposing party at 8pm at night during a key phase in the property negotiation: “I’ll send the contract to my lawyer tomorrow morning…and he’ll get back to you as soon as he gets time”.

…er…?

When is your lawyer going to look over the contract? … after he’s finished dealing with his primary law clients who are paying him a lot more than a $1000 dollars to do your real estate contract. How will your lawyer know if your paying too much, how will he know that your not buying a lemon…let’s face it…will s/he really care…?

Based on their incentives and their business model…no they won’t care as much as you would like them to. Why? Remember you only pay a lawyer $1000 to do the conveyancing. How much more do your think they make from their primary law clients…a lot more than what your paying. Right?

So there is not incentive for them to offer any value over and above forming a contract. So “just” using a lawyer seems like a good idea. Maybe it is for very experienced purchasers, who have inside knowledge of the industry or property or opposing party.

But look again at the business model and incentives for both realtors and lawyers and you’ll see it’s the “same difference”.

By: MH

MH — Fri, 08 Dec 2017 19:05:12 +0000

In reply to Matt. A *good* honest agent can provide added value. Unfortunately those are rare and statements like “a real estate agent will ensure that the contract is sound” make one question if they exist at all… Signing any half a million plus dollar contract without a proper review is not particularly clever idea regardless of what side of the contract you are on.

By: Ham

Ham — Fri, 08 Dec 2017 18:44:25 +0000

In reply to Abhi.

Just follow the money and you can see the default behaviours of anyone you deal with. In case of realestate agents, they will by default make a quick, over valued sales (both buyer and seller reps). They will not point out red flags in contracts and sales that can potentially delay or jeopardize deals unless they can sense that you are knowledgeable and/or working with a competent lawyer. It’s just the way their incentives work – you can’t blame them for looking out for themselves.

By: Dave

Dave — Fri, 08 Dec 2017 18:11:55 +0000

In reply to Abhi. Why pay a Real Estate Agent commission to review a contract!? Real Estate Agents do NOT understand the contracts in detail! If you want someone qualified to review your contracts, retain the services of a real estate lawyer or contract lawyer who spends years in law school, articling for 2 years and then work as a licensed and insured lawyer who is an expert in the field! Most Real Estate Agent I have lately met are new immigrants who can barely speak English, let alone understand the complexities of contracts and other agents who were laid of or couldn't find work anywhere else. Taking a few multiple choice exams in Real Estate at a grade 12 level does NOT make anyone an expert!