Realtor Stories – “A close friend of our family has been a Westside realtor for nearly 20 years. A few weeks ago, he suddenly asked if we knew anyone who might be interested in his $2 million listing. Never before has he done this.”

“A close friend of our family has been a Westside realtor for nearly 20 years. A few weeks ago, while talking about a completely unrelated matter, he suddenly asked if we knew anyone who might be interested in his $2 million listing. Never before in 20 years has he tried to drum up business from us. We know a total of zero people with a spare $2 million, so this was completely ridiculous and seemed rather telling.”
Sheesh at VREAA 19 Feb 2013 11:16am

“A friend of mine 3 years ago quit a well paying full-time job to dabble in RE. When the slowdown started about a year ago, she was lucky to get her old job back.”
Real Estate Tsunami at VREAA 19 Feb 2013 9:25am

“My land-lady who is a very good friend of [a Vancouver realtor] tells me that there are no buyers coming – she says market is very bad… very obvious to anyone who actually uses their brain… but quite an admission from someone who has been a part of this giant scam.”
vancouverbubbleman at VREAA 14 Feb 2013 3:30pm

25 responses to “Realtor Stories – “A close friend of our family has been a Westside realtor for nearly 20 years. A few weeks ago, he suddenly asked if we knew anyone who might be interested in his $2 million listing. Never before has he done this.”

  1. Ha, Ha, you mean a realtor actually has to work and sweat to sell a house!
    What a ridiculous situation!! /sarc

  2. Real Estate Tsunami

    Don’t forget the mortgage brokers.
    They are in the same boat. Many realtors and mtg brokers work in tandem, quite often they are friends, like a couple of hockey parents on my son’s team.
    Before, they were so busy, they rarely showed up even for games.
    Now they attend every practise.

  3. Too bad, there are some good agents who give a f*ck out there, it’s sad their incomes are going to be severely impaired; the ones I know have stated they would have preferred to have a slower and plodding market instead of boom-bust.

    In the end nobody’s happy…

  4. Pretzels...thirsty

    I think there should be an open web survey for this beauty.
    “Where in the world would you pay $ 888,000 to live in this beauty?”

    http://www.realtor.ca/propertyDetails.aspx?propertyId=12799656&PidKey=-1340248514

    • C’mon….. the realtor says that’s an “Amazing Property”……

      And it has a walk-score of 70! Stop complaining and put in an offer….

    • What! No pizza!?

      • NoteToEd: I almost forgot… In Detroit they still give you a free house with every pizza order… (or 2 ExtraToppings, your choice)…

        [UK DailyMail] – Bargain basement… and bedrooms, kitchen and bathroom! The Detroit family homes on sale for just one dollar

        http://tinyurl.com/bdfnqzh

    • Yowsa! It is a long lot so hopefully a builder will put this one out of it’s misery. Funny that they never boast about being in the J.O. catchment area. Thanks to the Fraser Report for that.
      Is the bike included in the asking price?

  5. Good salespeople, regardless of their product, will survive and do well in a downturn.

    Travel agents are pretty much all but gone from the landscape, except for Flight Centre………..I haven’t nought insurance from a human for 10 years………but I still drive by State Farm offices every day.

    While I don’t believe that realtors as a whole are of any sort of usefullness to the general populace (a mandatory $1,000+/- course on how to assess and buy a house should be however) good hustlers who maintain personal relationships with key people who buy their products stay in business. ,

    I sold $100K+ luxury and sporscars for 22 yeras……been thru the introduction of GST, the early 90’s O+G slump here in Calgary, the bursting of the 1999 tech bubble, post 9/11 slowdown….etc….etc….and I always did equal to or better than th previous year income wise, as I watched many of my less experienced and outright lazy ass colleagues starve and quit.

    • UBCghettodweller

      >Good salespeople, regardless of their product, will survive and do well in a downturn.

      Not to be flippant, but regardless of the profession, competent driven people survive. They might just change job title, specialization or approach… which is sort of nice to know given how easy it is to fall in to the rut of cynicism.

    • Real Estate Tsunami

      Of course, the cream will always rise to the top.
      But we are talking about the rancid curd that lies beneath.
      The 99% that is destined to wallow in despair and destitution.

      • You have never been to a sewage treatment plant, RET? Let me tell you about what rises to the top one day, shall I.

  6. The truth is we do not need real estate agents. All you need is a very good real estate lawyer. However, the industry has a sheer monopoly which does not allow for something like craiglist-like methods to sell your own home. People can not access info etc.

    • You can hire an appraiser for a few hundred. They pay for access to the local MLS so have access to the same sales data., and will give you a report with comparable sales. Discounters are popping up that will allow to put property on MLS for a flat few hundred to the “listing agent” and do the work yourself. It’s better than it used to be, and improving.

  7. Does anyone know a breakdown of the commission an agent gets?
    Like how much they get, how much goes to the buyers/sellers realtor, taxes, their company, board fees etc.

    • http://www.rebgv.org/costs-and-fees
      http://www.urbanvancouver.com/node/5564
      Buyer brokerage is typically offered 50% of the usual commission, sometimes with a bonus, sometimes a chiselled discount for ‘marketing fees’
      Seller brokerage’s commission is negotiable, buy why offer the buyer agent less? He’ll just show someone else’s house instead.
      Split between an agent and her broker is negotiated, just like everything else. New ones typically get to keep 50% I think, with seasoned producers keeping up to 90% or just paying fixed monthly desk fees or fixed per deal fees and keeping the remainder.

      • My experience is 10% on the first 100k then 7% thereafter. But I believe due to this irrational market it may be less

  8. It was impossible to see this coming, hoocoodanode ????

    • We’re going to end up with hole-in-ground-construction-sites peppered about the city for a good chunk of time during the descent; just watch.

      • Ralph Cramdown


        As someone who lived in a city with a stump for thirteen years, I sorely wished that every development project had required posting a completion bond of sufficient size to turn the development back into a nice park in the event construction was halted early.

    • Told ya so, 4Slices… Re: having previously cast Rennie’s CommandPost as ‘Fort Apache’… and the DownTownEastSide as the ‘Final/Wild Frontier’.

      No worries though, cuz’ like Rennie’s SignageSez, “Everything Will Be AllRight”.

      [NoteToEd: Just between the two of us, “AllRight” is technically defined as: Satisfactory but not especially good.]

    • 4SlicesofCheese

      On a recent trip with my dad to Tinseltown, I passed by Chinatown and was shocked that my one of my childhood favorite restaurants was demolished.

      I said look more condos going up, who needs businesses we can just keep building condos.

      He replied, that is how it is in HK, stores on the ground and condos above.

      I replied, yah, I am sure the original businesses are all coming back. I await the grand reopening of an HK cafe on the base of a yuppie condo building.

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