Comments on: April Inventory Blooms http://vancouvercondo.info/2008/05/april-inventory-blooms.html?utm_source=rss&utm_medium=rss&utm_campaign=april-inventory-blooms Bubble? What Bubble? Thu, 24 May 2012 07:44:09 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: jesse http://vancouvercondo.info/2008/05/april-inventory-blooms.html#comment-17399 jesse Tue, 06 May 2008 09:19:05 +0000 http://vancouvercondo.info/2008/05/april-inventory-blooms.html#comment-17399 patriotz, further to your point, anyone getting <b>paid only on a completed sale</b> cannot be working in the best interests of the buyer and often not the seller. Other considerations can keep them honest to a degree but we all gotta eat sometime. It's enough of a concern that buyers and sellers should know the deal. <p class="top-comments">Current score: <span class="top-comments-karma" id="karma-17399">0</span> <small>(to vote for this comment, please visit the site)</small></p> patriotz, further to your point, anyone getting paid only on a completed sale cannot be working in the best interests of the buyer and often not the seller.

Other considerations can keep them honest to a degree but we all gotta eat sometime. It's enough of a concern that buyers and sellers should know the deal.

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]]> By: jesse http://vancouvercondo.info/2008/05/april-inventory-blooms.html#comment-17398 jesse Tue, 06 May 2008 09:12:24 +0000 http://vancouvercondo.info/2008/05/april-inventory-blooms.html#comment-17398 <i>"Anyone getting a commission on the sales price cannot be working in the best interests of the buyer. Ever."</i> They aren't necessarily working in the seller's interests either. The marginal commission of keeping prices high is normally secondary to a sale at all and this I am sure will become crystal clear in the next few years. It is during a strong buyer's market, and in the extreme bidding wars, that things go out of whack. I'm sure we'll be kicking around the phrase "selling wars" at some point. There have been discussions here, on Chipman's blog, and RETalks about alternative ways to pay Realtors. I don't think it's a simple problem to solve. The best we can do is to educate people that they are effectively on their own when it comes to price negotiation. A Realtor I used in the past was very open about this. Again, I think he did this because of his reputation and the chance of future business, not because he was altruistic. <p class="top-comments">Current score: <span class="top-comments-karma" id="karma-17398">0</span> <small>(to vote for this comment, please visit the site)</small></p> "Anyone getting a commission on the sales price cannot be working in the best interests of the buyer. Ever."

They aren't necessarily working in the seller's interests either. The marginal commission of keeping prices high is normally secondary to a sale at all and this I am sure will become crystal clear in the next few years. It is during a strong buyer's market, and in the extreme bidding wars, that things go out of whack. I'm sure we'll be kicking around the phrase "selling wars" at some point.

There have been discussions here, on Chipman's blog, and RETalks about alternative ways to pay Realtors. I don't think it's a simple problem to solve. The best we can do is to educate people that they are effectively on their own when it comes to price negotiation. A Realtor I used in the past was very open about this. Again, I think he did this because of his reputation and the chance of future business, not because he was altruistic.

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]]> By: I despair http://vancouvercondo.info/2008/05/april-inventory-blooms.html#comment-17394 I despair Tue, 06 May 2008 08:58:15 +0000 http://vancouvercondo.info/2008/05/april-inventory-blooms.html#comment-17394 Mold City, Thanks, those are good observations regarding the mechanisms at work. Probably next year would be a better time to make the move, assuming there will be a crash of course which I think is inevitable .... but timing is so hard to call. <p class="top-comments">Current score: <span class="top-comments-karma" id="karma-17394">0</span> <small>(to vote for this comment, please visit the site)</small></p> Mold City, Thanks, those are good observations regarding the mechanisms at work. Probably next year would be a better time to make the move, assuming there will be a crash of course which I think is inevitable …. but timing is so hard to call.

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]]> By: Mold City http://vancouvercondo.info/2008/05/april-inventory-blooms.html#comment-17393 Mold City Tue, 06 May 2008 08:49:37 +0000 http://vancouvercondo.info/2008/05/april-inventory-blooms.html#comment-17393 despair: just make sure you know what you're in for, take a look around at rental listings, and I assume you guys have jobs you're coming for that pay decently? According to statscan we've suffered the biggest drop in income in Canada. There's tons of minimum wage jobs available here, but living expenses mean with that income you'd be living in a basement suite with roommates, so make sure you've got the income figured out before moving to Vancouver. I suspect that if our market is anything like the busting US bubble cities you can expect rentals to get tighter temporarily. Many people are selling right now and if they've decided to wait out a crash they'll be looking for rentals as well. In Miami this meant rents went up a bit around their peak before everything came crashing down. <p class="top-comments">Current score: <span class="top-comments-karma" id="karma-17393">0</span> <small>(to vote for this comment, please visit the site)</small></p> despair: just make sure you know what you're in for, take a look around at rental listings, and I assume you guys have jobs you're coming for that pay decently? According to statscan we've suffered the biggest drop in income in Canada. There's tons of minimum wage jobs available here, but living expenses mean with that income you'd be living in a basement suite with roommates, so make sure you've got the income figured out before moving to Vancouver.

I suspect that if our market is anything like the busting US bubble cities you can expect rentals to get tighter temporarily. Many people are selling right now and if they've decided to wait out a crash they'll be looking for rentals as well. In Miami this meant rents went up a bit around their peak before everything came crashing down.

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]]> By: Anonymous http://vancouvercondo.info/2008/05/april-inventory-blooms.html#comment-17392 Anonymous Tue, 06 May 2008 08:39:03 +0000 http://vancouvercondo.info/2008/05/april-inventory-blooms.html#comment-17392 patriotz, you hit the spot! it's simple logic. they should have laws against this bullshit. <p class="top-comments">Current score: <span class="top-comments-karma" id="karma-17392">0</span> <small>(to vote for this comment, please visit the site)</small></p> patriotz,

you hit the spot! it's simple logic. they should have laws against this bullshit.

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]]> By: Holdem http://vancouvercondo.info/2008/05/april-inventory-blooms.html#comment-17391 Holdem Tue, 06 May 2008 08:03:55 +0000 http://vancouvercondo.info/2008/05/april-inventory-blooms.html#comment-17391 Just sold my place over the weekend and started looking for an apartment to rent downtown. After being an owner for the past 3 years, it felt really strange being in a place with 15+ other couples, filling out an application, providing personal details, hoping we'll get selected...I felt like I did when I finished school. At current prices (buying vs renting) and cash in the bank, I can suck it up for a while... <p class="top-comments">Current score: <span class="top-comments-karma" id="karma-17391">0</span> <small>(to vote for this comment, please visit the site)</small></p> Just sold my place over the weekend and started looking for an apartment to rent downtown. After being an owner for the past 3 years, it felt really strange being in a place with 15+ other couples, filling out an application, providing personal details, hoping we'll get selected…I felt like I did when I finished school.

At current prices (buying vs renting) and cash in the bank, I can suck it up for a while…

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]]> By: patriotz http://vancouvercondo.info/2008/05/april-inventory-blooms.html#comment-17390 patriotz Tue, 06 May 2008 07:16:21 +0000 http://vancouvercondo.info/2008/05/april-inventory-blooms.html#comment-17390 <i>Just trying to find a limited and unusual case to get an agent working for the buyer.</i> An agent is working for a buyer <b>only</b> if his renumeration is not positively correlated with the sales price. Nor can it be contingent on making a sale. Since the interests of the buyer and seller are opposed, the compensation of their agents much be the inverse of each other, or at the very least not positively correlated. <p class="top-comments">Current score: <span class="top-comments-karma" id="karma-17390">0</span> <small>(to vote for this comment, please visit the site)</small></p> Just trying to find a limited and unusual case to get an agent working for the buyer.

An agent is working for a buyer only if his renumeration is not positively correlated with the sales price. Nor can it be contingent on making a sale.

Since the interests of the buyer and seller are opposed, the compensation of their agents much be the inverse of each other, or at the very least not positively correlated.

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]]> By: I despair http://vancouvercondo.info/2008/05/april-inventory-blooms.html#comment-17389 I despair Tue, 06 May 2008 06:59:35 +0000 http://vancouvercondo.info/2008/05/april-inventory-blooms.html#comment-17389 My wife wants to move to Vancouver. Arrgggh! But I may have to face reality and make the move. With growing inventory, when do you think the rental market will soften up especially on the west side, say Cambie and west? <p class="top-comments">Current score: <span class="top-comments-karma" id="karma-17389">0</span> <small>(to vote for this comment, please visit the site)</small></p> My wife wants to move to Vancouver. Arrgggh! But I may have to face reality and make the move. With growing inventory, when do you think the rental market will soften up especially on the west side, say Cambie and west?

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]]> By: Vansanity http://vancouvercondo.info/2008/05/april-inventory-blooms.html#comment-17388 Vansanity Tue, 06 May 2008 06:22:35 +0000 http://vancouvercondo.info/2008/05/april-inventory-blooms.html#comment-17388 Building permits fall unexpectedly in March, led by Alberta which plunged 32.9%. Not to worry though BC increased .8% <a href="http://preview.tinyurl.com/3fn85q" rel="nofollow">http://preview.tinyurl.com/3fn85q</a> <p class="top-comments">Current score: <span class="top-comments-karma" id="karma-17388">0</span> <small>(to vote for this comment, please visit the site)</small></p> Building permits fall unexpectedly in March, led by Alberta which plunged 32.9%. Not to worry though BC increased .8%

http://preview.tinyurl.com/3fn85q

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]]> By: alexcanuck http://vancouvercondo.info/2008/05/april-inventory-blooms.html#comment-17387 alexcanuck Tue, 06 May 2008 05:36:58 +0000 http://vancouvercondo.info/2008/05/april-inventory-blooms.html#comment-17387 Patriotz: One could use a different buyers agent for each property you have decided to bid on, perhaps? Just trying to find a limited and unusual case to get an agent working for the buyer. Easier and more effective to hire one hourly to negotiate for you, no commission at all. Was that you brought that up a while back? I strongly agree, BTW, realtors do NOT represent the buyer! Period. <p class="top-comments">Current score: <span class="top-comments-karma" id="karma-17387">0</span> <small>(to vote for this comment, please visit the site)</small></p> Patriotz:

One could use a different buyers agent for each property you have decided to bid on, perhaps? Just trying to find a limited and unusual case to get an agent working for the buyer.

Easier and more effective to hire one hourly to negotiate for you, no commission at all. Was that you brought that up a while back? I strongly agree, BTW, realtors do NOT represent the buyer! Period.

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