I’d say there is more similarity of a Realtor to a financial advisor than a “stock broker”, the latter of whom is more a technician and is prevented from offering financial advice.

Ask your financial advisor, should you have one, about commission disclosure of the specific funds and stocks they are selling. I would treat a home purchase with a Realtor with as much, if not more, skepticism as advice from a commissioned investment dealer.

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In todays paper, one buyer stated he bought into this project based on brochures of having “Yaletown” in Surrey’s Whalley area (LOL !) but all he sees is addicts and fights. He requested a refund , but was told he can’t get his money back unless he sells.

Given the fire will obviously move all timelines forward, and people will not get any funds REfunded , I wonder how many will choose Plan B and simply walk and the whole thing falls into bankruptcy? I mean, for all intents and purposes…they are starting fresh with new construction like any other development, but there will also be a lot of desperate sellers of other completed projects. I’ll bet many will bail on Quattro and go bottom – feeding elsewhere .

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I appreciate your insight, and whatever expertise you have and collectively adding to the debate.

My previous take on realtors was on the theme that they promote a commodity, and their bread and butter is commission – based on both ends of the transaction ie Buying and Selling.

They will promote the given commodity in as positive a light as possible…Stock Brokers and realtors literally read out of the same sales manual . That’s the basics, they are very similar , the rest is just hair-splitting semantics .

It’s often not in their interest to be candid, but to promote things on the upbeat/positive light, that IS my point.

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They are a LOT different from a stock broker:

1. Stocks are sold on an open market with known bid and ask prices.
2. Stockbrokers do not negotiate selling prices. The market does that.
3. Stockbrokers are not paid on a % commission basis.
4. Stockbrokers are forbidden from making any representation about the future performance of stocks.

Those with more knowledge of the securities industry may add more.

Realtors are like used car salesmen, except a used car salesman would never claim that the car he’s trying to sell will be worth more next year.

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Without trying to casting Realtors in a negative light….they are not much different than a stock broker simply promoters, they are promoting a commodity which in this case is real estate. It is their job to promote, not critique or criticize. One well known local realtor and I had a conversation re: the business, and he said that of his original class of approx. 30 realtors who graduated from the licensing program, only 2 were still practicing. Most of those that last probably have a lot more credibility, and a straight shooter is the one to seek out, moreso in these turbulent times.

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http://www.milliondollarjourne.....canada.htm

Get a grip, I’m a Realtor on the front lines in Victoria. I see the disaster that is slowly unfolding. Don’t fool yourself into believing that Canadian 40 years ams aren’t the American version of subprime. Rampant overbuilding, greedy speculators, and buyers that just ‘need to get in right now’. The writing is on the wall people

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Realtors are incapable of feeling silly. Read Tim Ayres’ response of 19 October on the 624blog (link above) to see what I’m talking about.

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“You would have to be seriously dimb or delusional to think that prices can only fall 30% now that investor sentiment has changed, supply far exceeds demand, and the world is slipping into a recession.
We will be lucky to get out with only a 50% drop!
Especially in a backwater town like Sooke which had gone too high too fast.

Prices will go up again just give it 25 years or so…..”

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Stop drinking the kool-aid. Commodity prices are tanking right now, especially Oil which is running at $75 a barrel, almost half of its high at $140. Canadian companies will be laying people off as consumers world wide, especially in the US, cut down on spending.

Home prices in BC can only go:

DOWN,

and DOWN.

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You are brave. It is very dangerous to do what you did.
It’s much like telling a gambler who has just won, that gambling is not a good thing.

Your friend has probably drank the Kool-aid,and actually believes:

http://642blog.ca/2007/12/27/s...../#comments

Why is the Canadian economy booming, while the United states is suffering? I’ve written about this before, but it’s worth mentioning again. I read this post on a local real estate bear blog which, while clever, is wholly inaccurate. What the bubble-blowers here in Victoria fail to note is that the reasons for our continued economic success here in Canada are not the usual Canadian success stories of manufacturing in Ontario and Quebec brought on by a favourable exchange rate. The rise of the dollar over the last 24 months and the expansion of our economy is driven by global demand for what Canada has to offer: minerals, resources, oil and gas, wheat, technology. This time around is different. Prices here in Victoria are not inflated beyond their sustainability. These $100,000 price drops are not going to happen. Not in 2008, anyway

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“The real estate boom lured many new real estate agents, mortgage originators, appraisers, home inspectors, and title and escrow workers. Now, the slowdown is hitting many of these same people the hardest, forcing them to cut back, find second jobs or change careers altogether.”

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Re: old “pearls of wisdom” ….Sort of reminds me of why Wal Mart has ben so successful .

” You can become poor catering to the Rich $$$….
” You can become rich $$$ catering to the Poor ”

PS the hourly rate condo is probably a joke… way too obvious..much like when someone put the NDP Fast Cat Ferries on E-Bay.

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this says he didn’t. did he really?

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There’s only one reason people rent a room by the hour. Normally it’s only the seediest of hotels that even have an hourly rate. Any working girl making a decent amount of money just gets a room for the night and uses it multiple times.

Yes I do know a bit about these things but it’s not what you think! My best friend in HS helped out at the motel his family owned which was cheap and near the working girls.

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http://www.businessweek.com/ap.....TO7Q80.htm

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Well, with the new tent city growing in Beacon Hill Park and their leader saying on the news their goal is to expand to parks in Oak Bay I am sure many retirees will be moving to Victoria in droves.

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http://vancouver.en.craigslist.....37220.html

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