Condo salespeople have no limits on claims?

Village Whisperer has been following the MAC-gate ‘fake foreign buyer’ story for a while and recently reported the Real Estate Council of BC decision in that case: a temporary suspension and small fine for one Realtor.

But what about the other MAC employees who played rolls in this story, why no repercussions for that deceit?

Here’s the loophole: condo salespeople who are not realtors are not ruled by the Real Estate Council and can apparently make any claim they want before passing a potential buyer off to a realtor to sign the legal documents.

Read all about it over at Whisperers blog.

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gah #61

Guessing? No, not at all. I talk to people who have reduced their prices AND their expectations of selling if they don’t reduce even more.

I watch this market very carefully’ Romeo is correct; it’s wilting at the edges…a LOT.

There ARE more places to in the Lower Mainland besides Vancouver’s West Side, etc. Just so you know…


A Canadian Banking Crisis? ‘Early Warning Indicators’ Flashing, But Don’t Panic


“#55 – you would have enjoyed 10 years of low rates had you bought in 2010. That’s how you pay off half your mortgage.”

I’m confused. It seems as though you didn’t read my original question carefully. I asked how you could pay off 50% of your mortgage after 5 years, and you responded with the above. If you are claiming that you can pay off half your mortgage after 10 (not 5) years, then there is no confusion.

Romeo Jordan

RFP, Your anger and frustration amuses me. You are my litmus. It’s cooling all around us, look at Victoria, the sunshine coast, Whistler, squeamish, etc. Condo prices flat, move up buyer getting truncated at the knees. Westside sales tepid at best. WBB, save and invest like a madman with a purpose. Pound away, don’t let volatility frighten you. Buy quality. When it goes down, buy more. Repeat for as long as necessary. When it goes back up and becomes popular and everyone just has to have it, sell them some If it keeps going up, sell them some more. Stay diversified and somewhat balanced. Anyways, to each his own – best of ku K to you. I still say that the shitstorm has already started, but is too subtle for most to see. In a matter of months it won’t… Read more »


@Boombust From what I can gather your argument is that there’s lots of sales because prices are low, and you don’t believe the data saying the prices are high. So why do you think prices are low? Are you guessing?

Romeo Free Please

Why would anyone listen to that prat Romeo Jordan. The guy has come off as an excitable 20 year old douche for years now, especially when he rears his asinine head with cheerleading statements with no insight or data. He’s like an f”d up realtor who forgot he is supposed to be pumping up the market not bashing it…

Of course, the ‘trend has been your friend’ for years right Romeo? Going strong since 2008 with your verbal diarrhea.

Please pollute some other blog.

would-be buyer

I have been saving my money and investing. Yes, I acknowledge that I have made decent returns investing in the stock market, however, you can’t deny the return on RE since 2010… That’s my gauge right now. I admit I have now waited too long and this RE bull run has basically run its course. Rates will start to rise next year and this RE goose is cooked. My concern is that it will be a slow decline over the next decade and there will never be a good time to buy (in my working lifetime). Had I bought in 2010, I would have bought a really nice house for under $1M (try finding that in VA now) and renew my mortgage next year at low rates for another 5 years. That was my point in my last post. That… Read more »

Romeo Jordan

Would be buyer,

I feel your pain, sincerely.

But…most of the muppets have been busy bloating their HELOCs to buy bmw’s, granite counters, prada purses, ski lessons for all the kids, fancy vacations, spa treatments, cosmetic surgery, blowjobs, etc.

The emperor has no clothes.

Just wait until the bill comes due
That day is at our doorstep now.

Basically, what I am saying is…calm the fuck down.

Just trying to help.


Open question to would-be buyer and others here.

What have you been doing with your money for the last couple years.

Have you been able to make any money investing?

I always wonder how much people can save for downpayments if eventually they were to buy.

I find I can save money from renting, but my investment options to grow my money is limited.

would-be buyer

#55 – you would have enjoyed 10 years of low rates had you bought in 2010. That’s how you pay off half your mortgage.


“Had I bought in 2010, I would have enjoyed renewing my mortgage in 2015 at still historically low interest rates. Half my mortgage would be paid off.”

How do you get 50% of your mortgage paid off in only 5 years? Details, please.

would-be buyer

The reality is, this market came back to life with 2.99% 5 year fixed mortgage rates. People are DUMB. I am no longer pissed at this market. It will correct once rates rise. The US economy is picking up and QE will likely finish tapering this fall. There will be pressure on Yellen to raise rates in early to mid-2015. Canada will follow. My only regret is not buying in 2010 when I first started seriously considering buying. I never guessed rates would stay so lo for so long. Had I bought in 2010, I would have enjoyed renewing my mortgage in 2015 at still historically low interest rates. Half my mortgage would be paid off. Now, I have no choice but to stay on the side-lines and watch this clusterfuck unfold.


“I have purchased cars, dinning table sets, television, etc off these Hams right after they’ve got their citizenship papers and they are leaving as fast as they can, back to their homeland.”

China does not allow dual citizenship, if they are selling their stuff they could be giving up waiting, I have bought stuff from people like this.
If they have citizenship, they can only go back to China for several months at a time and need visas.


I know; a made up “price structure” presented as “fact”.

It’s really quite amazing that some people can be so gullible.

But, that’s human nature, I suppose…

Romeo Jordan

Benchmark is pure fiction.

The muppets are going to get hammered, it has already started, in subtle ways and at the edges.

It gets worse qui key from here.


…unless you believe “the benchmark price”, that is…


I see the Vancouver Scum newspaper, along with other “pundits” is going goo goo over July sales.

Duh, any increase in sales is due to falling prices.

“Come on in! The water’s fine!”

Son of Ponzi

Almost 100 net listings in 1 day.
Looks like we’re back over 17,000 in just a few days.


Oops. Sub 50% SL ratio in prime time? Seems like you won’t be priced out forever if you don’t buy today after all.


New Listings 244
Price Changes 83
Sold Listings 105


#39 Hams are not staying…

Either way, less garbage around is rather preferable, even when you have to deal with it from time to time.

Westside Realtor


We are hearing similar stories in our office.

Anyone who tells you that sfh buying demand is increasing in the Westside or is in any manner ‘hot’ is lying out of their cake hole

The sea of For Sale signs continues to grow.