@@ethimself5064 the problem with that is the majority of the time there will be conditions to the offer so there is no fully qualified buyer or firm offer. The sellers should be able to review all offers and decide which one they want to take.
The listing price should be the selling price . No negociations possible or only posssible to negociate down, not up. It will force sellers to list at market value and bidding wars will just stop to exist. But the more permanent solution would be a greater inventory of units. If the private market can't provide more unit or won't, then provincial governements should step in and build the units that the private market can't in form of coop or selling at cost value, this way the governement get their money back. And of course change zoning rules and end exclusionnary zoning as it is designed
@@SZiani why only negotiations down? That seems extremely one sided. You can't just say asking price is the selling price as the majority of the time offers will have conditions and timelines will be different. The sellers should be allowed to select an offer that best suits what they are looking for besides just price.
@@BaldPrairieRealEstate The only condition would be a final inspection. And the occupation date would be set by the seller or a mutual agreement. Still 1st to offer the asking price wins all
The two agents in Montreal were all over TV with their own program....teaching people about the market and to solicit people to reach out to them ....they came across as trust-worthy people. Another thing I see happening is the same agents (not the ones who got caught) always winning homes for their clients at $5000 more than the one who would have won....what the heck is going on? This is happening in Laval as well!
I have always been leery when I have buyers for a property and the listing agent also has buyers for the same property. There are many great agents in Regina that I know keep things above board in those situations though.
How about the fees realtors in canada charge and how that impacts housing costs? I don't begrudge a person who does well but the commission on housing on Canada is ridiculous
You always have the option to negotiate with your agent of choice for lower fees or going with a discount/flat fee brokerage. You could also go the for sale by owner route and pay a brokerage to put it on MLS for you too. In terms of Realtor fees driving up housing costs it is without a doubt an added cost. But it pales in comparison to government taxation and fees. Real estate fees are usually 2-5% whereas government taxes are 25-35% on new construction and they add taxes to your real estate fees too.
@@BaldPrairieRealEstate is that really the answer? Ridiculously high realtor fees, especially in markets such as the lower mainland are a real problem and exasperated by inflation to a degree that little else is. At least in so far as it affects the wages of people performing the service
@@MrGav777 do you truly think that Realtors fees are pushing up prices more than the taxes and fees governments charge on transactions and new construction? And yes, if you don't think Realtors fees are fair then don't hire an agent or go with a lower cost option. That is the answer.
@radovan739 don't hire an agent and go for sale by owner or represent yourself in a transaction. There are also low-fee brokerages that offer a more cost-effective option. It's a free market and you are free to choose alternatives.
If the market goes to fully transparent offers you'll just have consumers saying that it's a breach of their privacy and we'll be back to where we are in a few years. A central registry of offers could be a solution though; no details of the offer itself but the buyers agent would register an offer has been submitted. It might work.
You will have buyers complaining that agents are turning it into an auction because that's exactly what's going to happen and why we went to blind bidding in the first place. 🤷 I would love to see CREA create a centralized system where all offers are registered and tracked. All interested parties would have access to how many offers there are on a property and the offers all linked to an agent and an ID from the buyer. We already have to do all the ID forms for FINTRAC so let's use that to make the system better.
@@BaldPrairieRealEstate That is the point, the law of supply and demand should not apply to homes in the first place. And real estate brokers are not supposed to be careers to begin with. The government should handle these transactions as they have the legal authority and benefit to inspect properties, transfer the properties, and monitor fraudulent dealings. Having a middle person just to do the transaction unnecessarily increases the prices of homes. This results in the abuse of the system much like you have made the example of the convicted Montreal Brokers. This is my opinion.
Why is a real estate agent not supposed to be a career? If you want to see an extremely inefficient market get the government involved. Houses won’t get built, transactions will be slower and it won’t be any cheaper. Look how many houses CMHC (a government entity) has built in the last decade. It’s literally less than 20 in the entire country.
@@BaldPrairieRealEstate Just after WWII is a good example of government lead housing construction boom. Homes were built as fast and a much as Canada needed it. It is possible. CMHC is just riddled with corrupt former bank executives who only see dwellings as commodities. Corrupted government officials who listen to twisted real estate brokers produced this housing crisis. A big example of this collapse in real estate is in China and this is due to the collusion of the corrupt developers, brokers, and government officials. I just hope that people stop getting ahead of other people and just try to care about achieving back the Canadian dream.
LOL. Loved the Dad joke😂😂😂. I’ve taught at four institutions and quickly recognized the poor quality of education at the bad actors exploiting International Students. It is awful the Trudeau government let this go on. Shame on the overall post-secondary institutions not taking ownership on housing issue. Shame on them exploiting a human and diminishing their dreams 😡
What websites do you use to look for houses for sale? You talked about a website once on one of your videos about houses for sale And how much people are bidding for the houses if it’s like a buyers market or a sellers market
The bids should be publicly accessible on the fly with some sore of obfuscation of client ID. The problem is that system has to be set up, monitored and maintained by some sort of "independant" authority that most people I imagine would not be comfortable footing the bill. If not, it'll just be the same thing now but with extra steps. The housing market, will always be a manipulatable asset class where even with bidding transparency, alot of players have alot to gain from fudging numbers. Its frustrating to watch real estate agents, who mostly offer very little to anyone making massive money at % rates off the backs of people who did all the work and took all the risk.
I keep hearing about houses but nothing about affordable rentals,most canadians will never own a home and rentals are unaffordable for the average canadian.The government says that no more than 40% of income should be spent on housing.
I agree we need to have a conversation about affordable houses be it ownership or rental. I disagree that most Canadians will own a home. Most will and do. 67% of Canadians own the home they live in. Also the 40% rule isn't really a rule. I've seen it used as good guideline but it's not a rule. Lending guidelines set roughly a 40% max for your gross debit service ratio. That's the mortgage payment, property taxes and heat combined cannot exceed 40% of your monthly pre-tax income. But there is usually some flexibility in that number.
Don't just focus on the rate. Look at the mortgage as a whole. There is alot more to a mortgage than just the rate. Look at the pre-payment options, payout penalties etc.
... * if you're buying a house anywhere in Canada, get in touch with me, I have realtors all over, networking for me" 😅😅😅 ... So, instead of the local realtors who live here 🤔 we should network with you in Regina ? ... didn't realize ... LOL
Modular homes are superior in cost and quality to legacy building techniques. Shopping is a solved problem…. Trade unions don’t like them because they lose money and control.
Modular homes are superior in quality? I think more than a few people, myself included would disagree with that. How has shipping (that is what I assumer you were saying) been solved?
@@BaldPrairieRealEstate I mean prefabricated homes. Made in a factory. The modules are built to a size that fits on a truck. Then assembled together on site. My dad purchased one. It’s built very well. Everything is tight.
@@dimitrychekov1136 I understand now. That is good to know that it all went together well. Where did he buy it from and what type of foundation was it put on?
@@BaldPrairieRealEstate I’m in Ontario. Not sure if they do work in the Prairies. Company is called First General. It’s a concrete foundation that was poured before the modules arrived.
@@BaldPrairieRealEstate Real estate Ponzi scammers mislead homebuyers by falsely suggesting that home prices are rising, creating FOMO and luring high profits. Their strategy fails when they can't find greater fools to sell inflated houses.
Students are the only type of immigration that bring money to Canada. If that really impacts housing markets, then governments should stop all kind of immigration I.e bringing specific group of people on refugee status , as this people will not be staying in air. Also to note, student applications were down this semester by 86% already. That is due to affordability housing jobs and many more reasons. Government is capping numbers after students stopped coming, to show they stopped them coming in, instead of seeing reality that students stopped coming in way before😂😂
Disagree...they dont pay tax. They just bog down the system. Immigrants with work permits bring money. Bring in skilled labour. Build houses. its a win-win
exposing the bidders names and identities should resolve it, shouldnt it? this way you can at least determine if the bidder is in any way related with the agent etc
I personally disagree with making names public. It's a private transaction at the end of the day. What I would rather see is a system where all offers are registered to an agent and with the buyer's ID linked to the offer. That way there is a history should there be nefarious activity.
