“I’m not an economist, I don’t understand any of that, I am very uneducated when it come to the economy, what I do know, though… I don’t like to do predictions on real estate, I’m hired, basically, to market, expose and facilitate a transaction, that’s pretty much it.. that’s all I’m hired for… I’m hired to get the best dollar, at the best price, for the present market conditions, no matter what’s going on”
“So, I don’t really know the answer.. if we’re in a bubble or not. But, I don’t think there’s anything that indicates that our real estate can go up any higher in the next year or two… probably, if I were to bet if it were to go up or down, I’d probably say that it has better chances of going down than going up, in the next year… Having said that, I do own a few properties, and I’m not selling them anytime soon. My plan is to hold them for the long term.”
- Ian Watt, local realtor, self-posted video at youtube, 25 Feb 2012
The first paragraph is very, very smart realtor talk. We believe that that is precisely how good realtors should present themselves… as expert deal facilitators and not market predictors. Most don’t, of course, and can’t resist predicting future market strength.
Ian is himself on record as having made statements like “I don’t think that [Vancouver RE prices] are going to drop 30% back to prices of 15, 20 years ago. I just don’t see it happening” [VREAA 9 Nov 2010], so he seems to at times break his own rules.
Ian tells us he owns “a few properties” and it would be interesting to know what percentage of his net-worth is in Vancouver RE.
Also, it’d be interesting to know how strong his hands are… would he keep holding at 20%-, 25%-, 30%-, 35%-off?
[PS: Yes, connoisseurs, that's another gorgeous back-alley shot that Ian has scouted. He remains Vancouver RE's "undisputed King of the DashCam", and more of his work can be seen in our 'Realtor DashCam Gallery', where he still holds poll-position. -ed.]