Canadian Realestate Magazine forum is the place for positive industry interaction and welcomes your professional and informed opinion.

A number of sellers willing to sell below value

Notify me of new replies via email
Justin da Rosa | 10 Aug 2016, 08:15 AM Agree 0
Despite being met with some criticism, the Vancouver Home Project – which aims to connect Vancouver homeowners willing to sell at below market value with potential buyers – seems to be gaining steam
  • Omer Quenneville | 10 Aug 2016, 11:29 AM Agree 0
    Based on this business model my last sale had a market value of $290,000 (very small condo). We listed for $300,000, had 5 offers and got $326,000. My fee including co-operating broker was $16,000-ish for a net of about $310,000-ish. Based on this model above the seller would have sold for $290,000 (market value) minus the average fee or about $15,000-ish or $275,000. That's a $35,000 difference in the sellers pocket. Sounds like a good deal for the buyer but I don't know too many sellers willing to walk away from a $35,000 net difference.
    • MFenn | 10 Aug 2016, 10:45 PM Agree 0
      The article quotes: "We opted to maintain the stability of the neighbourhood ... Our son, daughter in law and two granddaughters also live in the area".

      What a euphemism for "not to foreigners/Chinese"!

      Realtors who encourage racial-specific hostility should be sanctioned by their realtor associations.
  • Ernest Gutstein | 10 Aug 2016, 11:36 AM Agree 0
    Yes ...maybe altruistic but maybe something else. "Keeping the integrity of the neighbourhood" may be parlance for being able to impose a racist filter as to who buys.
    • MFenn | 10 Aug 2016, 05:39 PM Agree 0
      It's also not too far from: "Dear politicians, Please produce a tax which targets people of a different race, while absolving voters from being designated white supremacists".
  • MFenn | 10 Aug 2016, 02:33 PM Agree 0
    Yes, it's rather inelegant for citizens who pride themselves at being so liberal, and would ritually bad-mouth Texans, etc., for selling houses under a neighbourhood racial covenant, finding that after all they want to do the same vis-a-vis Chinese buyers and residents, euphemistically referred to as 'foreigners' rather than by their racial designation.
  • YES | 10 Aug 2016, 03:23 PM Agree 0
    RIGHT ON THE SPOT VIS A VIS VEILED RACISM
    • MFenn | 10 Aug 2016, 05:34 PM Agree 0
      Just look at how many realtors openly weigh in against Chinese people; this speaks for itself. It's thoroughly unprofessional. Realtor associations ought not to allow people who identify themselves as members to make hostile, racial-specific discourse. Of course, sometimes they use the euphemism 'foreigner' instead of 'Chinese'.
  • MFenn | 10 Aug 2016, 11:00 PM Agree 0
    As Ernest Gutstein above would probably agree, one can just imagine marchers behind Sir Oswald Mosley in the East End of London in the 1930s, using euphemistic phrases such as are in the article in order to try to be plausible, such as: "opt- to maintain the stability of the neighbourhood".
    It's shocking how such a self-pofessedly liberal place such as Vancouver can harbour such crypto-fascist, veiled racist feeling.
Post a reply