What does a Canadian Real Estate Agent DO?
Apr 8th 2008, 3:11 pm
#46
Joined: Oct 2007
Location: Ontario
Posts: 6,609
Re: What does a Canadian Real Estate Agent DO?
Record sales again in NS in Feb, meaning record numbers paying 6% or 5% without a problem:
How can you say that - there is no record of what commission was paid, so it could well have been negotiated down and less than 5 or 6%. The realtor we have just spoken to here in Halifax offered to sell our property for 4%, without any prompting from us!
How can you say that - there is no record of what commission was paid, so it could well have been negotiated down and less than 5 or 6%. The realtor we have just spoken to here in Halifax offered to sell our property for 4%, without any prompting from us!
Apr 8th 2008, 3:18 pm
#47
Joined: Dec 1969
Posts: 2,484
Re: What does a Canadian Real Estate Agent DO?
ok off OP but still on real estate 
We can check in the uk what houses was bought for etc etc
is there a system in canada esp alberta that i can check what a house sold, i am looking at certain houses in alberta, but would like to see what it was bought for????
thanks gill
We can check in the uk what houses was bought for etc etc
is there a system in canada esp alberta that i can check what a house sold, i am looking at certain houses in alberta, but would like to see what it was bought for????
thanks gill
Apr 8th 2008, 3:30 pm
#48
BE Enthusiast
Joined: Feb 2007
Location: North Shore Nova Scotia
Posts: 623
Re: What does a Canadian Real Estate Agent DO?
In NS your agent can - I do not know about Alberta
Apr 8th 2008, 3:36 pm
#49
RETIRED Realtor
Thread Starter
Joined: Aug 2006
Location: Winnipeg, Manitoba
Posts: 2,087
Re: What does a Canadian Real Estate Agent DO?
One of the problems with Real Estate Agents is that different Provinces have different laws, plus some Real Estate Boards are tougher than others.
Here it is illegal for us to sell our own, or a close family members, or a Companies in which we own more than 5% of the shares Property, without a full disclosure of that fact. We must also disclose if we are double ending. ALL of this has to be in Writing and is included on the Offer to Purchase.
I am against the practice of double-ending and I think it should be discontinued. When a buyer has their own representation they are better protected against the rogue elements, be they a real estate agent, or dishonest sellers.
I will give credit where it is due for the Winnipeg Real Estate Board they are very tough, for instance in Winnipeg you have to be a full time Realtor, many provinces allow part-timers and that is often where there are problems.
I believe Calgary has over 5,000 Real Estate Agents, most of them part-timers, Winnipeg has 1200 all full time.
Here it is illegal for us to sell our own, or a close family members, or a Companies in which we own more than 5% of the shares Property, without a full disclosure of that fact. We must also disclose if we are double ending. ALL of this has to be in Writing and is included on the Offer to Purchase.
I am against the practice of double-ending and I think it should be discontinued. When a buyer has their own representation they are better protected against the rogue elements, be they a real estate agent, or dishonest sellers.
I will give credit where it is due for the Winnipeg Real Estate Board they are very tough, for instance in Winnipeg you have to be a full time Realtor, many provinces allow part-timers and that is often where there are problems.
I believe Calgary has over 5,000 Real Estate Agents, most of them part-timers, Winnipeg has 1200 all full time.
Apr 8th 2008, 4:58 pm
#50
Now on Vancouver Island
Joined: Feb 2005
Location: Nanaimo, British Columbia, Canada
Posts: 6,935
Re: What does a Canadian Real Estate Agent DO?
One of the problems with Real Estate Agents is that different Provinces have different laws, plus some Real Estate Boards are tougher than others.
Here it is illegal for us to sell our own, or a close family members, or a Companies in which we own more than 5% of the shares Property, without a full disclosure of that fact. We must also disclose if we are double ending. ALL of this has to be in Writing and is included on the Offer to Purchase.
I am against the practice of double-ending and I think it should be discontinued. When a buyer has their own representation they are better protected against the rogue elements, be they a real estate agent, or dishonest sellers.
I will give credit where it is due for the Winnipeg Real Estate Board they are very tough, for instance in Winnipeg you have to be a full time Realtor, many provinces allow part-timers and that is often where there are problems.
I believe Calgary has over 5,000 Real Estate Agents, most of them part-timers, Winnipeg has 1200 all full time.
Here it is illegal for us to sell our own, or a close family members, or a Companies in which we own more than 5% of the shares Property, without a full disclosure of that fact. We must also disclose if we are double ending. ALL of this has to be in Writing and is included on the Offer to Purchase.
I am against the practice of double-ending and I think it should be discontinued. When a buyer has their own representation they are better protected against the rogue elements, be they a real estate agent, or dishonest sellers.
I will give credit where it is due for the Winnipeg Real Estate Board they are very tough, for instance in Winnipeg you have to be a full time Realtor, many provinces allow part-timers and that is often where there are problems.
I believe Calgary has over 5,000 Real Estate Agents, most of them part-timers, Winnipeg has 1200 all full time.
Another point that I think is relevant is that a person who sold a house in Canada usually would have lived in his/her neighbourhood for some time prior to selling. Therefore he/she would have had time to get to know the city and the people in it (including real estate salespeople). By that stage, he/she would know local people whose brains he/she could pick.
For example, over the last couple of years, we've come to know a realtor who lives in our neighbourhood. His kids attend the local school, play hockey at the local community centre, and so on. We've had informal chats with him about the real estate market in our specific neighbourhood. We've found him to be very well informed about the history of the neighbourhood, past price cycles that might give one a clue about the future, city planning issues that might affect our neighbourhood, etc. Our interactions with him have made it obvious to us that he's here for the long haul, and is not a fly-by-night operator. We originally met him through our next door neighbours, who are friends of his. They are very decent people, so that adds to his credibility in our eyes. Although we know other Calgary realtors whom we also consider to be good, we'd seriously consider switching to this guy when the time comes to sell this house.
The point I'm making is that, by the time a British expat came to sell his/her Canadian house, he/she ordinarily would have spent enough time in his/her city and community to have a feel for these things.
But I still think that a list of pointers from you would be helpful.
x
Apr 8th 2008, 5:14 pm
#51
Forum Regular
Joined: Dec 2007
Posts: 94
Re: What does a Canadian Real Estate Agent DO?
MB Realtor, when you create the Wiki article that you've kindly volunteered to create, I think it would be helpful for the rest of us if you included a section on what to look out for when we choose a real estate salesperson with whom to list our house. For example, you said you believed in full time real estate salespeople rather than part-timers, and I agree with you on that.
Another point that I think is relevant is that a person who sold a house in Canada usually would have lived in his/her neighbourhood for some time prior to selling. Therefore he/she would have had time to get to know the city and the people in it (including real estate salespeople). By that stage, he/she would know local people whose brains he/she could pick.
For example, over the last couple of years, we've come to know a realtor who lives in our neighbourhood. His kids attend the local school, play hockey at the local community centre, and so on. We've had informal chats with him about the real estate market in our specific neighbourhood. We've found him to be very well informed about the history of the neighbourhood, past price cycles that might give one a clue about the future, city planning issues that might affect our neighbourhood, etc. Our interactions with him have made it obvious to us that he's here for the long haul, and is not a fly-by-night operator. We originally met him through our next door neighbours, who are friends of his. They are very decent people, so that adds to his credibility in our eyes. Although we know other Calgary realtors whom we also consider to be good, we'd seriously consider switching to this guy when the time comes to sell this house.
The point I'm making is that, by the time a British expat came to sell his/her Canadian house, he/she ordinarily would have spent enough time in his/her city and community to have a feel for these things.
But I still think that a list of pointers from you would be helpful.
x
Another point that I think is relevant is that a person who sold a house in Canada usually would have lived in his/her neighbourhood for some time prior to selling. Therefore he/she would have had time to get to know the city and the people in it (including real estate salespeople). By that stage, he/she would know local people whose brains he/she could pick.
For example, over the last couple of years, we've come to know a realtor who lives in our neighbourhood. His kids attend the local school, play hockey at the local community centre, and so on. We've had informal chats with him about the real estate market in our specific neighbourhood. We've found him to be very well informed about the history of the neighbourhood, past price cycles that might give one a clue about the future, city planning issues that might affect our neighbourhood, etc. Our interactions with him have made it obvious to us that he's here for the long haul, and is not a fly-by-night operator. We originally met him through our next door neighbours, who are friends of his. They are very decent people, so that adds to his credibility in our eyes. Although we know other Calgary realtors whom we also consider to be good, we'd seriously consider switching to this guy when the time comes to sell this house.
The point I'm making is that, by the time a British expat came to sell his/her Canadian house, he/she ordinarily would have spent enough time in his/her city and community to have a feel for these things.
But I still think that a list of pointers from you would be helpful.
x
Apr 8th 2008, 5:36 pm
#52
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Joined: Feb 2007
Location: North Shore Nova Scotia
Posts: 623
Re: What does a Canadian Real Estate Agent DO?
Nova Scotia has stopped double-ending by switching to "Transaction Brokerage" a facilitation process. Still far from ideal.
You sound like Margot from "The Good Life", Judy.
Apr 8th 2008, 5:40 pm
#53
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Joined: Feb 2007
Location: North Shore Nova Scotia
Posts: 623
Re: What does a Canadian Real Estate Agent DO?
People can tout such things all the time.
I was a lawyer in the UK for 10 years before coming over here, in all that time, none of my clients every sued an estate agent.
I have been working in law firms here for just over a year now, in that time clients have sued realtors, on average, once a month.
I know not all realtors act the same way but I am truly amazed at how they operate over here - selling people their own homes without informing them of this fact, double ending deals without appropriate disclosure, purchasing houses from their own clients and then flipping them for ridiculous profits within 2 weeks.
Not wanting to tar all of them with the same brush, but I simply do not believe all the shite that is put out about them acting in the best interests of their clients. Like all of us, they work to make money and, if they see an opportunity, they take it. I am not saying there is anything wrong with that but to simply quote codes of practice that are stretched to the absolute limit as justification for high commissions is somewhat bizarre.
I don't know any realtors that only have a single property themselves, and I am not talking about ones that have been in the business for decades (they would usually have loads of properties) but ones that have been realtors for a year or two.
I was a lawyer in the UK for 10 years before coming over here, in all that time, none of my clients every sued an estate agent.
I have been working in law firms here for just over a year now, in that time clients have sued realtors, on average, once a month.
I know not all realtors act the same way but I am truly amazed at how they operate over here - selling people their own homes without informing them of this fact, double ending deals without appropriate disclosure, purchasing houses from their own clients and then flipping them for ridiculous profits within 2 weeks.
Not wanting to tar all of them with the same brush, but I simply do not believe all the shite that is put out about them acting in the best interests of their clients. Like all of us, they work to make money and, if they see an opportunity, they take it. I am not saying there is anything wrong with that but to simply quote codes of practice that are stretched to the absolute limit as justification for high commissions is somewhat bizarre.
I don't know any realtors that only have a single property themselves, and I am not talking about ones that have been in the business for decades (they would usually have loads of properties) but ones that have been realtors for a year or two.
Apr 8th 2008, 5:51 pm
#54
Lost in BE Cyberspace
Joined: Aug 2005
Location: South of Calgary
Posts: 13,374
Apr 8th 2008, 5:52 pm
#55
Lost in BE Cyberspace
Joined: Aug 2005
Location: South of Calgary
Posts: 13,374
Re: What does a Canadian Real Estate Agent DO?
Here it is illegal for us to sell our own, or a close family members, or a Companies in which we own more than 5% of the shares Property, without a full disclosure of that fact. We must also disclose if we are double ending. ALL of this has to be in Writing and is included on the Offer to Purchase.
Apr 8th 2008, 6:01 pm
#56
Now on Vancouver Island
Joined: Feb 2005
Location: Nanaimo, British Columbia, Canada
Posts: 6,935
Re: What does a Canadian Real Estate Agent DO?
My very first job, when I got to Canada 31 years ago, was as the secretary to the manager of a real estate firm. I witnessed how time consuming a real estate salesperson's job was.
I've also witnessed real estate salespeople working on my family's behalf. They've held Open Houses for us on Sunday afternoons. They've also stayed up with us past midnight, discussing the details of an offer with us and negotiating with the other party to bring a transaction to a conclusion.
Besides that, if they're worth their salt, they know about the schools in different communities, they know about city planning issues that may impact various neighbourhoods for better or worse, they track price trends, and so on.
It takes a fulltime commitment for a real estate salesperson to stay on top of his/her game.
x
Apr 8th 2008, 6:03 pm
#57
Now on Vancouver Island
Joined: Feb 2005
Location: Nanaimo, British Columbia, Canada
Posts: 6,935
Apr 8th 2008, 6:20 pm
#58
Binned by Muderators
Joined: Jul 2007
Location: White Rock BC
Posts: 11,682
Re: What does a Canadian Real Estate Agent DO?
It took me quite some while to adjust to the way houses are bought and sold in Canada, and how to select a good real estate agent. I think I have got the hang of it now, but it cost me money and opportunity to learn.
The first lesson is that, unlike the UK, you can't line up a chain of coinciding sales and purchases. I didn't take the clause in the offer, that is was only open for 24 hours, seriously. By the time I had got myself organized I had lost my buyer. To some extent I blame our realtor because she could have realized we were green behind the ears. Anyway, we learned.
Moral: if you get a good offer, take it. Don't sweat the small stuff.
The second lesson is don't think you know more than a local specialist. For our second attempt to sell the house we asked a local realtor, who specialized in the area, to give us a valuation. He arrived complete with floor plans and other details (how did he get those?), poked his head in a few rooms, commented it was quite a clean house, and said he would list it a $420k and it would sell between $415k and $420k. We said we were hoping for a bit more and his only comment was, "You can ask for more, but you won't get it".
What an arrogant sod, I thought, and declined to sign a listing agreement.
We were working with a realtor in White Rock who we liked very much. We asked her to do a market analysis of the home we were trying to sell. She came up with several examples of houses in the area that superficially seemed to be similar to ours that had sold or were listing 10% or so more than $420. Smugly, we asked her to list the house at $459k.
Weeks went by ...
All the other houses were sold.
More weeks went by ...
We reduced the price. We reduced the price again.
We saw some great houses in White Rock but no one was interested in an offer that was "subject to sale of own home" even at the asking price.
In desperation, we dropped the price to $415k. That weekend we had three viewings and two offers: at $415k and $420k. The people who eventually bought it had seen the house weeks before, and liked it, but were told by their realtor that it was way overpriced.
Moral: you can't beat local knowledge.
Armed with our sale, we looked again in White Rock. We saw two places we liked. Actually I should be honest, Mrs JonboyE liked. I am not brave enough to offer a dissenting opinion once she has set her heart on something. Our realtor advised us that one was overpriced and what we should offer. Our offer was rejected. In fact, the house did not sell for two years! She said the other place was fairly priced so we offered and ended up buying with a couple of thousand of the asking price.
Moral (and it is worth repeating IMHO): you can't beat local knowledge.
We ended up getting what our original house was worth, but it took three months, and a lot of emotional stress, instead of the typical three weeks in that red hot market. In the meantime we let some fabulous places slip through our fingers.
The first lesson is that, unlike the UK, you can't line up a chain of coinciding sales and purchases. I didn't take the clause in the offer, that is was only open for 24 hours, seriously. By the time I had got myself organized I had lost my buyer. To some extent I blame our realtor because she could have realized we were green behind the ears. Anyway, we learned.
Moral: if you get a good offer, take it. Don't sweat the small stuff.
The second lesson is don't think you know more than a local specialist. For our second attempt to sell the house we asked a local realtor, who specialized in the area, to give us a valuation. He arrived complete with floor plans and other details (how did he get those?), poked his head in a few rooms, commented it was quite a clean house, and said he would list it a $420k and it would sell between $415k and $420k. We said we were hoping for a bit more and his only comment was, "You can ask for more, but you won't get it".
What an arrogant sod, I thought, and declined to sign a listing agreement.
We were working with a realtor in White Rock who we liked very much. We asked her to do a market analysis of the home we were trying to sell. She came up with several examples of houses in the area that superficially seemed to be similar to ours that had sold or were listing 10% or so more than $420. Smugly, we asked her to list the house at $459k.
Weeks went by ...
All the other houses were sold.
More weeks went by ...
We reduced the price. We reduced the price again.
We saw some great houses in White Rock but no one was interested in an offer that was "subject to sale of own home" even at the asking price.
In desperation, we dropped the price to $415k. That weekend we had three viewings and two offers: at $415k and $420k. The people who eventually bought it had seen the house weeks before, and liked it, but were told by their realtor that it was way overpriced.
Moral: you can't beat local knowledge.
Armed with our sale, we looked again in White Rock. We saw two places we liked. Actually I should be honest, Mrs JonboyE liked. I am not brave enough to offer a dissenting opinion once she has set her heart on something. Our realtor advised us that one was overpriced and what we should offer. Our offer was rejected. In fact, the house did not sell for two years! She said the other place was fairly priced so we offered and ended up buying with a couple of thousand of the asking price.
Moral (and it is worth repeating IMHO): you can't beat local knowledge.
We ended up getting what our original house was worth, but it took three months, and a lot of emotional stress, instead of the typical three weeks in that red hot market. In the meantime we let some fabulous places slip through our fingers.
Last edited by JonboyE; Apr 8th 2008 at 6:24 pm.
Apr 8th 2008, 7:34 pm
#59
Forum Regular
Joined: Dec 2007
Posts: 94
Re: What does a Canadian Real Estate Agent DO?
Is this a serious question? In case it is, there is no way, in my opinion, that a real estate salesperson could stay on top of things if he/she had another job at the same time.
My very first job, when I got to Canada 31 years ago, was as the secretary to the manager of a real estate firm. I witnessed how time consuming a real estate salesperson's job was.
I've also witnessed real estate salespeople working on my family's behalf. They've held Open Houses for us on Sunday afternoons. They've also stayed up with us past midnight, discussing the details of an offer with us and negotiating with the other party to bring a transaction to a conclusion.
Besides that, if they're worth their salt, they know about the schools in different communities, they know about city planning issues that may impact various neighbourhoods for better or worse, they track price trends, and so on.
It takes a fulltime commitment for a real estate salesperson to stay on top of his/her game.
x
My very first job, when I got to Canada 31 years ago, was as the secretary to the manager of a real estate firm. I witnessed how time consuming a real estate salesperson's job was.
I've also witnessed real estate salespeople working on my family's behalf. They've held Open Houses for us on Sunday afternoons. They've also stayed up with us past midnight, discussing the details of an offer with us and negotiating with the other party to bring a transaction to a conclusion.
Besides that, if they're worth their salt, they know about the schools in different communities, they know about city planning issues that may impact various neighbourhoods for better or worse, they track price trends, and so on.
It takes a fulltime commitment for a real estate salesperson to stay on top of his/her game.
x
Apr 8th 2008, 7:46 pm
#60
BE Forum Addict
Joined: Jun 2007
Location: Musquodoboit Harbour, Nova Scotia
Posts: 2,549
Re: What does a Canadian Real Estate Agent DO?
Is this a serious question? In case it is, there is no way, in my opinion, that a real estate salesperson could stay on top of things if he/she had another job at the same time.
My very first job, when I got to Canada 31 years ago, was as the secretary to the manager of a real estate firm. I witnessed how time consuming a real estate salesperson's job was.
I've also witnessed real estate salespeople working on my family's behalf. They've held Open Houses for us on Sunday afternoons. They've also stayed up with us past midnight, discussing the details of an offer with us and negotiating with the other party to bring a transaction to a conclusion.
Besides that, if they're worth their salt, they know about the schools in different communities, they know about city planning issues that may impact various neighbourhoods for better or worse, they track price trends, and so on.
It takes a fulltime commitment for a real estate salesperson to stay on top of his/her game.
x
My very first job, when I got to Canada 31 years ago, was as the secretary to the manager of a real estate firm. I witnessed how time consuming a real estate salesperson's job was.
I've also witnessed real estate salespeople working on my family's behalf. They've held Open Houses for us on Sunday afternoons. They've also stayed up with us past midnight, discussing the details of an offer with us and negotiating with the other party to bring a transaction to a conclusion.
Besides that, if they're worth their salt, they know about the schools in different communities, they know about city planning issues that may impact various neighbourhoods for better or worse, they track price trends, and so on.
It takes a fulltime commitment for a real estate salesperson to stay on top of his/her game.
x
If I were considering a part time realtor I would find out more about their availability before deciding not to use them. If they said "well, I can never work weekends" or "I only work 10am to 2pm" then I could envisage a problem. Otherwise part time commitments may actually give them more flexibility.