Hi All,
I had a meeting this week with the sales team at The Rolston, a new pre-sale in Downtown Vancouver to built by Rize Alliance Developments. The building will be located at 1300 Granville Street and will have 23 levels with 186 suites in total. There will be two rooftop decks, one mid way up the building and one on the very top. Most of the suites will come wit (more…)
Hi All,
The “Working with a Realtor” brochure is one of the most misunderstood documents I work with.
Some people think that by signing this document they are committing to work FOREVER with the Realtor who got them to sign it. THIS IS NOT THE CASE!
The “Working with a Realtor” brochure is simply a signed confirmation the Realtor has explained the Agency Relationship to the client.
By signing this brochure, the client is NOT BOUND TO THE REALTOR. It is simply a signed disclosure that the client has had their rights in the Agency Relationship explained as well as the Realtors obligations and responsibilities to the client in this relationship. Nothing more.
The Agency Relationship is as follows:
1) Undivided loyalty. The Brokerage must protect the principal’s
negotiating position at all times, and disclose all known facts
which may affect or influence the principal’s decision.
2) To obey all lawful instructions of the principal.
3) An obligation to keep the confidences of the principal.
4) To exercise reasonable care and skill in performing all assigned
duties.
5) To account for all money and property placed in an Brokerage’s
hands while acting for the principal.
If you feel your Realtor is not following these rules bring it to their attention. If this doesn’t work, speak to their manager.
Here’s a copy of the Working With a Realtor Brochure:
Working With a Realtor by Mike Stewart Vancouver Real Estate Agent
Please leave a comment, I’d love to hear your thoughts and questions!
Hi All,
American buyers are back in the Vancouver Condo Market! A good exchange rate for US buyers and the fact that some individuals and companies Stateside are weather the storm well means our American freinds and neighbours are back.
Is this a sign that Stimulus is bringing confidence back?
On another note this Video is the first I have shot with my new Flip Mino HD Camera. I’d love to hear your thoughts and feedback on the camera and this video from a technical perspective.
I’d love to hear your thoughts! Please leave a comment below!
Stimulus packages coupled with ultra low interest rates are attempts by national governments and central banks to reflate economies around the world. If these efforts are successful (I think they will) I think inflation will be an issue in 2-3 years in Canada. I think elected politicians and to a lesser extent central bankers will find it very difficult to stop priming the pump once things improve.
I think changes in the Chinese economy will also push up inflation as we move forward. A 2007 Report by the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) has said inexpensive Chinese exports have kept inflation around the world in check. As China develops though, the cost of China’s labour becomes more expensive, pushing up costs for the huge amount of simple products it exports around the world.
How does this relate to Vancouver Real Estate?
Inflation will cause prices and rents in Vancouver to increase while fixed rate mortgages locked in before inflation hits will decline in real and nominal value at an accelerated rate. Equity will increase at an accelerated rate for those with fixed rate mortgages.
Variable rate mortgage holders would see their rates and possibly payments rise in line with Bank of Canada rate increases to combat inflation.
If inflation does re-appear it will be very interesting time in the Vancouver Real Estate Market.
I’d love to hear everyone’s thougths!
Hi All,
I recently posted on the stimulus pacakges being enacted around the world and it generated alot of conversation, which is great and I thank all those who participated.
I shot a video justifying my position and I’d like to share with you. I’d also like to hear what people who oppose the stimulus packages think should be done to deal with the financial cirsis we find out ourselves in.
I look forward to your comments!
The Ascent of Money. Wow! What a book! I read this book when I was away in Mexico growing this crazy red beard you see me with in all my recent videos.
Niall Ferguson is an Economic Historian at Oxford and Harvard Universities and the authour of several books. In The Ascent of Money, he accurately predicted the Credit Crisis of September 2008 in early 2008. Very impressive!
In Chapter 4 of his book he discusses Real Estate. If you are interested in why property prices go up and down, this should be required reading…
Have a look at the television version of The Ascent of Money on PBS.
I’ve posted some recent videos of him discussing The Financial Crisis and would love to hear your thoughts.
It’s a buyer’s market for Vancouver real estate these days and Lowballing is a great way for buyers to get the best deal possible. For sellers a Lowball is an opportunity to get an accepted offer in a time when these are scarce.
Many buyers are afraid to Lowball for fear of insulting the sellers. With a Lowball offer it’s like anything else in life, if you don’t try, you’ll never know!
I put a deal together at 2502-1483 Homer Street. The asking price was $1.1 Million and we got it for $97 (more…)
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