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New Act spells the end of private condo sales

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Real Estate Professional | 04 Feb 2015, 09:29 AM Agree 0
Agents are preparing for the incoming changes to one province’s Condominium Act, which some industry players believe could spell the end of DIY condo sales.
  • Dan | 04 Feb 2015, 10:40 AM Agree 0
    This is good for the Real estate industry. As professionals , our services will be more valuable and maybe less complaining about commissions!
  • e. harold | 04 Feb 2015, 11:19 AM Agree 0
    about time folks
  • Everyman | 04 Feb 2015, 12:29 PM Agree 0
    I have never heard a more self serving, arrogant and manipulative statement as “With the changes and the degree of complication involved, I think Realtors are really the only people who can handle [condo transactions],” Roberta Weiss, the president of the Manitoba Real Estate Association.....
    Now she does go on to say : “It would be a challenge for the private seller." So some may call this nit picking but there is a large span between "the ONLY people to handle" and something being "challenging".
    Give the common person with a high school reading ability and the patience to preform due diligence some credit. Then there are lawyers, notary publics, appraisers, and any number of professionals versed in contract law / and with the ability to easily wade through the bog of legalese.

    It may not be easy, or very fun, but let's face it people, it's not rocket science nor brain surgery. Get off your high horse Roberta Weiss.
  • Brain Surgery | 04 Feb 2015, 01:40 PM Agree 0
    Those egos...!!! THey look at resales,Status certificate,lawyer . Just trying to protect their monopoly.
  • | 04 Feb 2015, 03:41 PM Agree 0
  • PEEGEE | 04 Feb 2015, 05:31 PM Agree 0
    I'm a long standing REALTOR and am aware of he expertise most agents have,.however I object strenuously to forv cing pepole to use a REALTOR when they wish to sell a condo, house, farm cottage or whatever. We must retain our individual freedom of choice. More important we should continue working at demonstrating why it is best to use a REALTOR.
    Re a condo sale most buyers / sellers run to see lawyer before confirming the deal anyway, and really why pay a HUGE commission for a service you don't need. That said however condo and house owners and definite;y investment property owner/buyers are much better off to use a REALTOR. Let's prove our service is worth it!
  • Mike | 08 Feb 2015, 02:13 PM Agree 0
    It is very involved and I have heard that some agents won't want to sell resale condos. Time will tell how the market reacts to the new condo legislation
  • Wayne | 08 Feb 2015, 02:40 PM Agree 0
    Brain Surgery... Hi Trolly. I see you have once again illuminated the topic with your witty commentary and insightful viewpoint. We ALL stand in awe😀😃
  • george | 08 Feb 2015, 03:41 PM Agree 0 todays market on a condo sale some buyers are totally in the dark as to even know what to ask the vendor on a private deal...advantage to vendor. this will create a more level playing field...
  • Chuck | 08 Feb 2015, 04:41 PM Agree 0
    Condo sales are, and always have been, an area to be entered into with some knowledge in order to avoid the pitfalls. New rules and regulations have been enacted for good reason over the years... to protect the consumer. An educated consumer is a wise consumer!
  • tour guides | 08 Feb 2015, 06:01 PM Agree 0
    real hair wayne,

    It astounds me you have the time to dance on here??? ...but figures spending ALL THAT TIME looking up resales , playing taxi /tour service you must be exhausted and need a break. Buyers/sellers 20,000-40,000 for taxi/tour guide service or hire someone or DIY for 1,000!!!??

    Wayne needs a new,suit,mortgage payments if want his tour /taxi service.
  • Alex | 08 Feb 2015, 07:14 PM Agree 0
    Interesting indeed. looks like only licensed realtors has the mental & intectual capability to get the transaction completed. I feel this notion is a bit unilateral & is only protecting realestate agents business. I like to ask How many licensed agents sit & read the condo corporation docs & other condo related docs to accurately access particular building & unit?
  • Mike | 08 Feb 2015, 10:16 PM Agree 0
    It's about time authorities realized how complexed selling condominiums is and why hireing a Realtor that is extremely knowledgeable in condominiums is. Calgary has a designation for Realtor's who want to take the three day course called "Certified Condominium Specialist" CCS.
  • Jeffrey Joseph | 08 Feb 2015, 10:33 PM Agree 0
    I Have Been An Ontario Realtor Since 1968, And One Of The Sacred Rights Of Ownership I Respect, Is The Sacred Right Of Ownership, Which Comes Along With The Bundle Of Rights With Ownership, Subject Only To Government Powers Such As Taxation, Expropriation, Zoning And Building Regulations. To Sell Your Property By Yourself, Rent It By Yourself, Live In It By Yourself, Or Do Nothing With It Is A Right! The Manitoba Government May Carry This Power A Little To Far, If, As, And When, Owners Who Wish To Sell Their Properties By Themselves, Lose That Right.

    Most Of The Time, Sellers Do Better, And With Much Less (If Any) Liability, When Selling Through A Realtor; That's A Given! It Is Great For Us As Realtors Commissionwise, However, It Is A Myopic View In My Opinion. Rights Are Rights,

    Engaging A Realtor Should Remain Optiona, For Seller Or Buyer. Perhaps The Applicable Manitoba Government Agency , And A Team Of Experienced Realtors, Can Get Together, And Work Out A Suitable Alternative Before Implementing Such Legislation.

    Jeffrey Joseph, Broker,
    Harvey Kalles Real Estate Ltd., Brokerage,
    Toronto, ON 416-782-7000
  • Kennedy | 09 Feb 2015, 10:48 AM Agree 0
    As a Realtor I disagree that a Government would force any part of the home ownership circle to 'require' a Realtor to sell their home. That is dictation at is finest. While I strongly believe that Condo sales typically involve more paperwork and time for any buyer to review all the in's and out's associated with that certain complex, I think with probably one of the fastest growing industries, that Buyers's would be the ones best served being represented by an Agent, what with all the shotty workmanship that is being performed, straight levies within a couple of years. Buyers need protection from these Companies building, trying to capitalize on then market - Agents have the resources to assist them with some of those concerns, lead them in the right direction. Can we as Agents bring benefits ton sellers that they may not bring to themselves? Absolutely!!! But, at the end of the day, their home, should be their choice on how they choose to sell.
  • realty/reality check | 09 Feb 2015, 02:41 PM Agree 0
    The whole model is changing and Agents need a realty(reality) check. Mutual funds(crystal ball) are being pressured now because the value is not justified just like a realtor HAS NEVER JUSTIFIED 20,000-50000(tour service). Of course the option should be available to the home owner

  • Wayne | 09 Feb 2015, 07:06 PM Agree 0
    Trolly... the option has ALWAYS been and always will be that an owner can sell his or her own property, just like the option is there for the Buyer to buy on their own or with a Realtor. Just like you can do your own taxes, conduct your own legal work or cook your own food. This is no change to anything other than buyers have a bit more protection and sellers are a bit more exposed. We've had this concept in BC for years. Your repeated and tiring comments regards a tour service in an insult to those people who feel they would rather turn at least some of the responsibility over to a Realtor. Now I know, as do most people who have read your drivel before, that this concept probably falls outside of your own narrow mindset and curious vendetta against Realtors but it certainly does not mean it's wrong. So... while I go and buy an new suit, have my driver bring the Bentley around so that I can go have my new hair styled and spend the rest of the day taking cartons of money to the bank, you go on and have a nice day:) By the way, should the day ever come that I make $50,000 commission on one transaction I will happily shout it to the world!!
  • $1,000 listings | 09 Feb 2015, 08:30 PM Agree 0
    find a agent for a $1,000 and save ur money. Stop paying these bloated/ego agents.
  • | 09 Feb 2015, 08:39 PM Agree 0
    $1,000 listings!!!!!
  • Wayne | 09 Feb 2015, 11:50 PM Agree 0
    Hey Trolly. I will take your listing for a flat $1000.00 without blinking an eye. Just let me know what you'd like to list it for. I'll put it on and we never have to speak to each other again... Hell, I'll listit over and over for you at that price. Cheers
  • $1.000 listing tops | 11 Feb 2015, 09:52 AM Agree 0
    Don't pay more than 1000-2000 for selling or buying ur property. Prices have increased not value or service.

    Keep ur money for ur mortgage,retirement and kids!!! Instead of buying cars and suits for the egos.
  • Jackie | 12 Feb 2015, 12:33 PM Agree 0

    where are our industry representatives for Ontario? the Ontario public is the same as Quebec and Manitoba buyers/sellers..
    Jackie Laurin, ottawa
  • Jackie | 12 Feb 2015, 12:36 PM Agree 0
    I'm curious " everyman " what industry are you in and what do you do for a living?
    No high horses in our professional industry. Hard working agents, most work daily
    on call 7-11 until you've walked in our shoes, i'd be lenient in your judgement
    still on duty for 41 years.
    Jackie Laurin, Ottawa
  • | 12 Feb 2015, 12:39 PM Agree 0
    You're wrong.. our value of services have increased yearly in our profession, you aren't a salesperson, i'm sure of it.
  • $1,000 TRANSACTIONS | 16 Feb 2015, 09:24 PM Agree 0
    The value of a agent has actually decreased because most of the information is available online. The only thing is the resales which is the monopoly you have on those resales. Maybe the cars have become more fancy in ther taxi service I will give you that,
  • | 18 Feb 2015, 01:08 PM Agree 0
    I am a licenced realtor in another province. It will take the realtors some time to adjust to the new information required to give their Buyers on acceptance of an offer. The documents should be examined by a condo document reader or the Buyer's lawyer. This is not a quick read through. You need to be able to read the reserve fund study ( financial data) and determine whether the condo corp is financially sound. The cost to a new Buyer will be approximately $400- 500 for a proper review of docs. Lawyers have been cautioned in our province about their liability in reviewing condo docs should they miss a special assessment or a potential special assessment.
    Restricting the ability of sellers to sell without a realtor is far too restrictive. Make the offer subject to review of the condo docs by a Lawyer. Get prepared to pay as this takes a lawyer time. Many condo corporations may not have had a reserve fund study done in Manitoba so until this happens a reader of docs is flying blindly.
  • Pay Lawyers MORE | 19 Feb 2015, 08:43 AM Agree 0
    We pay lawyers hundreds too make sure all is good...but agents want thousands to play tour guide!!! There is a model that is distorted!!

    I think Lawyers should be paid more so we are totally protected and pay realtors tour gudie service.... Rememeber realtosr can licensed without a highschool has SOME MORE SCHOOLING!!! of course the egos will say their tour guide service is more valuable!!
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