Vancouver Real Estate Gossip
Posted April 13th, 2008 in Real Estate, Sharing the Experience
Photo Credit: Flickr:Monkey façade:jmrocher2001
Today was Real Estate Gossip day
Some days, and today was one of them, you run into a Realtor® friend from another brokerage who is holding an Open House scheduled later in the day. When I pass by on my way from my open I stop in to say Hi, to rekindle an association, and talk about the Vancouver Real Estate Market. It’s a great way to share and gain different perspectives about the market trend. But, sometimes, we just gossip.Good Great Gossip
Good gossip is talking about real estate stuff, great gossip means talking about others. At times it’s negative but, those occasions are very rare, as many of the agents with whom we do business and gossip about have known each other for quite a while and each has a healthy respect for the other. True to form, we gossiped about someone we both respect and admire as a very hard working professional who is a “listing machine”. The interesting part of the conversation was a problem that our friend is dealing with.Too Many Listings
This aspect of success, as we Realtors® see it, is creating a huge problem. The “listing machine” has too many active listings and has recognized that the huge inventory has crippled the ability to service current clients.Stop Taking Listings
The solution - no more listings. Take no more inventory until current levels are reduced and the promised services are delivered. This concept is an aberration to the very life blood of an average salesperson. But we aren’t talking about average, we are talking about a professional. Reject business in favor of service! Absolutely! Bad service will be remembered for a much longer time.Can Gossip be Meaningful?
Sure, for one thing, it’s nice to know that some of the people I work with are true professionals who give a damn about their clients. Contrary to some beliefs, it’s not always about the money. There is a side bar to this gossip and it relates to Vancouver Real Estate. The increased inventory for the ‘listing machine” and globally on a board wide level is telling us something. Property is not selling as fast as it used to. Listings are sitting around for a longer period and there are more price reductions to make those properties more appealing.The Question
Is this the beginning of the market decline? Got some gossip? Bring it on.Got a Vancouver Real Estate question? I’ll do my best to answer it. Call or send me an email. Larry
the globe and mail say canadian real estate will do better than most other countries. vancouver has in-migration of approx 30,000 people per year. the vacancy rate is below l%, so people have nowhere to rent. the feds balance our budget, are paying down the debt. Harper is slashing corporate taxes going forward and this will attract an enormous amount of international business to canada, thereby creating jobs. people go where the jobs are and then buy houses. canada is blessed with energy, resources and water. the economy of our country is tilting west. BC - the best place on earth. canada rocks!
Maggie
While all what you say may be true we are sitting on a large inventory of homes for sale. It continues to grow with each day.
Is it expecting too much to suggest that they all won’t be selling as furiously as in the past?
Somewhere in your analysis of the best place on earth you neglected the “affordability” issue. Everyone as you suggest may be getting work however, the pay levels are insufficient to support the huge debt (mortgage).