By ebizniz on November 10, 2007 - 2:06pm
There are 2 time periods of the year that are good for listing and selling your homes. Historically, early spring and mid-summer are the most active periods and best 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 new school term starts in September.
Conversely, Autumn being perceived as slower months with less buying and selling activities, may be the best time to buy a home. With lesser activities, some sellers may be more motivated and willing to compromise to make the deals work. So, if you are a homebuyer, you should seriously consider what you can buy. Your local realtor should be able to provide you a list of properties within your budget. Buying a home in Autumn is less stressful as you will have more time to carefully consider your selections.
If you like to have the Richmond or South Vancouver property listing information, kindly 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.
