Daily Market Update

by REP20 Jan 2015
TD says housing boom masking other challenges
CTV has five numbers that may surprise you about the state of real estate in Toronto. A housing boom in the Toronto area is masking the growing challenges to the market, say TD experts, as they've been distracted by a housing boom in the Greater Toronto Area, with resale values increasing steadily over the past 10 years. Read the full story to find out more

House prices continue to fall in Calgary 
The Calgary market is cooling faster hot chocolate in the cold. According to new sales and listing data for the first half of the month have been released and the numbers aren’t pretty. The number of homes trading hands has plunged 37 per cent compared to the first two weeks of January 2014, while the number of active listings surged 64 per percent. Prices have reportedly declined 1.5 per cent. Read the full story here

New website aims to cut commissions
FeeDuck launched an Ontario-wide service last week, a new website that would ostensibly ensure sellers can sell while minimizing the commission they pay to realtors? How do they do it? 
Once a homeowner lists their home with the site, registered real estate agents bid for the right to sell it. After 72 hours, contact info for whichever agent has promised the lowest commission is sent to the seller. Read about what this means for realtors here

Record home prices in Vancouver for 2014
Vancouver set a record high for home prices in 2014, according to Macdonald Realty Group’s compilation of data from two local real estate boards.  There were 199 Metro Vancouver properties that sold last year on the Multiple Listing Service for at least $5-million, breaking the previous high of 148 set in 2013. Read the full story here

Buyer sought lawsuit against agent over condo sale
Don't blame agents if you overpay for real estate, according to a writer in the Montreal Gazette. A co-property buyer who felt her real-estate agent was remiss for not disclosing that the unit sold months earlier for much less failed to obtain compensation from him in Quebec Court. The buyer, Dimitra Panagopoulou, sought $7,000 in small-claims court from her real-estate agent, Alexandre Patricio, saying he hadn’t given her a clear portrait and she overpaid. Read the full story here

COMMENTS

  • by EGO Agents 1/20/2015 10:27:08 AM

    working for what you pay for is such a dinasour REALTOR response!!! They keep selling their over inflated,unjustified ,bloated model.
    Plenty of people work tremendously hard,offer incredible services and do it for a lot less than ego agents think they are worth.

    Plenty of Brokerages that offer to list for a 1,000 and sell for a1,000...google them and lets stop the greed that society keeps pushing..

  • by 1/20/2015 10:42:00 AM

    I'm a Realtor and I work for ALOT of clients who tried the "cheaper"route first. They turn back to agents because their houses don't sell. So they're back where they started only they're wallets are a few thousand dollars lighter. These discount brokerages get paid for providing no service. It's a brilliant business model. Unfortunately , they're the only ones that win. Realtors are still in business because we provide a necessary service. Case and point.

  • by Dinasours 1/20/2015 10:48:55 AM

    another dinasour response "somebody used a low commissioned realtor and it didn't work" such a bogus defense...I Know lots of people who used a high commissioned agent and with no success and ended up using a low rate service with success..

    too many agents, fees are too high. lawyers make only a 1,000 and they do just as much work, all agents do is look at previous sales shoot for that in lisitng and sales...they should be lucky and be appreciated that someone pays them a 1,000 for being a tour guide,taxi service

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