By ebizniz on November 10, 2007 - 2:06pm
Historically, early spring and mid-summer are the active periods and good time for sellers listing their properties for sale. These time periods coincide with better weather conditions and home buyers planning to make a move before the start of a new school term in September.
Autumn is perceived as slower months with less buying and selling activities. This may be the best time to buy a home. With lesser activities, sellers may be more motivated and willing to compromise on their selling prices. If you are looking for a home, autumn may present some buying opportunities for you.
Your local realtor can provide you a list of properties meeting your requirements. You may find the home that is just right for you. Click here for info on current housing market activities in Richmond.
If you like to have the most recent Richmond or South Vancouver real estate information, you can contact James Wong 604-721-4817 at Re/Max Westcoast.
By ebizniz on October 6, 2007 - 8:02pm
A posting by James Wong at RE/MAX Westcoast.
In Greater Vancouver and Fraser Valley, home sellers pay 7% for the first $100,000 and 2.5% on the balance selling price of the homes. Using the above commission structure, the sale commission for a $600,000 home is $19,500 or 3.25% of the selling price. Real estate commission is not fixed and can be as low as $5,000 available from discount Brokers.
The real estate industry argument that the seller is paying the commission is a myth. The fact is that real estate commission is already included into the sale price. So the truth is that it is the market pricing mechanism that provide for the payment of commission in a real estate transaction.
As a buyer, you aren’t really getting the service for free!
BC Real Estate Agency Law
Legally speaking, the real estate agency law in BC specifies that all realtors work on behalf of the seller of a home and not the buyer? But in practice, a buyer’s agent represents the buyer.
When a home buyer has a realtor representing him in the negotiation of an agreement of purchase and sale, he has the full fudiciary and legal duty of the realtor. The buyer’s realtor is looking out for the best interests of the buyer, and he is not legally obligated to the seller in any way.
