Conflicting Views On Vancouver RE Risk

A Vancouver RE bull and a Vancouver realtor discuss the issue of timing a sale:

eyesthebye at RE Talks 23 Jul 2010 9:54 am“Since real estate mostly goes up, and is almost always close to peak, it’s not risky at all whatever time you sell. The only risk when selling is not getting back in fast enough and letting the market and your affordability get away on you.”

ckung at RE Talks 24 Jul 2010 8:04 am“Given that I personally believe that this market is at a start of a long awaited correction, I would suggest re-listing it but with an aggressive price strategy (i.e. significantly lower than the competing properties). If, for whatever reason, my clients feel that delisting it “for now” is the better way to go then I would warn them that there a real possibility that the market may have dropped even more once they want to list again. It is a risky proposition to delist and wait for a better time to do so because there may not be a better time to do so.”

[We agree with the realtor, ‘ckung’. The bull’s confidence is breathtaking. – vreaa]

4 responses to “Conflicting Views On Vancouver RE Risk

  1. Well, the ‘ckung’ just wants to make a sale. While his prediction may be accurate, I would question the motives behind his advice.

    • Good point.
      The real test of ‘ckung’ would be whether he/she is telling clients who are prospective buyers to put off their purchases.
      —-
      Update: I discovered I’ve archived ‘ckung’ before [Dec 2009]. If you believe what they say, he/she may actually be warning buyers.

  2. tincup, I only want what is best for my clients and if you don’t believe it, I don’t care. Assumptions from people like you are often ignorant and simple minded. Feel free to provide your email to me and I can “refer” my clients’ past and present opinions of me to you.
    And yes vreaa, I have told my buyers to hold off as long as possible to benefit from the declining market.
    Like in every facet of industry, there are some good eggs and I try to be one of them.

    • carlk, thanks for the comment.
      I do believe that there are realtors out there who have respect for themselves as professionals, and actually try to serve their clients’ best interests, as you do.
      Having said that, you have to acknowledge that the current system is perverse (or at least suboptimal) in that you, as a realtor, have to sacrifice your own gain when and if you speak the truth to your clients.
      How many agents do that?
      A minority, I’d suggest. Most are swayed in favour of personal gain.

      The best systems are set up in such a way that they take into account human nature.
      You deserve to be rewarded for guiding your clients well, not punished for it.
      Hopefully a good number will remain your clients (rather than simply buying through another agent) and reward you with sales during the coming weakness.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s