[Raybyrnes]

Rustico,

I got you. Good Post I chuckled.

[Raybyrnes]

So I would assume that if you can’t sell the units the next thing to do is start collecting some income to keep up with the interest payments and rent the units out.

I listened to the President of McMillan talk about doing this during the last real estate downturn.

Davlj
Superb Post, Extremely enlightening

[Raybyrnes]

So I would assume that if you can’t sell the units the next thing to do is start collecting some income to keep up with the interest payments and rent the units out.

I listened to the President of McMillan talk about doing this during the last real estate downturn.

Davlj
Superb Post, Extremely enlightening

[Raybyrnes]

Sorry Rustico,

I have nothing to do with ren addredal esate and not looking for clients off this site.

I will say this mouch. For a foreign investor they not only have to guage the housing market but also have to play the currency exchange.

What would the scenario look like if the Canadian Currency currency began to go in the other direction. For this you need to be able to determine velocity of change and compare housing vs currency. Someone else can do the mathon that one.

[Raybyrnes]

Sorry Rustico,

I have nothing to do with ren addredal esate and not looking for clients off this site.

I will say this mouch. For a foreign investor they not only have to guage the housing market but also have to play the currency exchange.

What would the scenario look like if the Canadian Currency currency began to go in the other direction. For this you need to be able to determine velocity of change and compare housing vs currency. Someone else can do the mathon that one.

[Raybyrnes]

The problem in general goes back to an educational system that is broke. There is no way you should be able to leave high school without having learned basic finance.

We live in an indulgent society and unfortunately their are far too many people who choose to shift all responsibilities to other parties. They do not value the learning process. A realator should and I emphsize should be an instructor. They should help guide you and explain your options. They should help you transact business. I think by and large most do a good job. But they shouldn’t have to do all of your homework for you. They are not the one who makes the decision. People need to take ownership for their own actions.

“The realator told me to buy more house than I wanted. The mortgage guy qualified me for more money than I could afford.” Cmon.

[Raybyrnes]

The problem in general goes back to an educational system that is broke. There is no way you should be able to leave high school without having learned basic finance.

We live in an indulgent society and unfortunately their are far too many people who choose to shift all responsibilities to other parties. They do not value the learning process. A realator should and I emphsize should be an instructor. They should help guide you and explain your options. They should help you transact business. I think by and large most do a good job. But they shouldn’t have to do all of your homework for you. They are not the one who makes the decision. People need to take ownership for their own actions.

“The realator told me to buy more house than I wanted. The mortgage guy qualified me for more money than I could afford.” Cmon.

[Raybyrnes]

With respect o representation you can alway speend the money and hire an attorney. With respect to a real estate agent my though is that they are transactional. With the infinite amoutn of information I see their role as identifying what it is I am looking for and helping me find the property.

In an ideal situation you can give them a set of criteria and they can quickly identify the 3 very best properties that match that criteria.

While the internet is a good starting point it is almost too much information and often times needs to be filtered. A good realator can help in the filtering process and remind you of what is important about the transaction.

Asking them to take on a fiduciary responsibility is “scope creep”

[Raybyrnes]

With respect o representation you can alway speend the money and hire an attorney. With respect to a real estate agent my though is that they are transactional. With the infinite amoutn of information I see their role as identifying what it is I am looking for and helping me find the property.

In an ideal situation you can give them a set of criteria and they can quickly identify the 3 very best properties that match that criteria.

While the internet is a good starting point it is almost too much information and often times needs to be filtered. A good realator can help in the filtering process and remind you of what is important about the transaction.

Asking them to take on a fiduciary responsibility is “scope creep”

[Raybyrnes]

Rustico
I’m suggesting that most realators come by referral as do most financial planners, life insurance agents etc. Personally, I am comfortable going with people I don’t know because I have a fairly rigid screening process.

I simply suggested that if he was uncomfortable with this company’s style, and he wanted more personal intereaction, that he start with someone he might be familiar with. I inferred that if he is meeting with someone he does not have a relationship with currently, that he probably does not have a network of people with real estate expertise. Therefore this site is probably as good as the yellow pages or the park bench to begin a discussion with someone.

[Raybyrnes]

Rustico
I’m suggesting that most realators come by referral as do most financial planners, life insurance agents etc. Personally, I am comfortable going with people I don’t know because I have a fairly rigid screening process.

I simply suggested that if he was uncomfortable with this company’s style, and he wanted more personal intereaction, that he start with someone he might be familiar with. I inferred that if he is meeting with someone he does not have a relationship with currently, that he probably does not have a network of people with real estate expertise. Therefore this site is probably as good as the yellow pages or the park bench to begin a discussion with someone.

[Raybyrnes]

This is an entirely differnt story. I am with you here. I count my coins and if they are looking for a fee, and you have no reason to think that they are doing anything differnt than the next guy or if the sales agent hasn’t conveyed the value add, than I’m in your camp. I think it was a different psoter who stated the guareanted to buy you home so to me that seems like a pretty enticing piece to explore. Hopefully I didn’t ruffle your feathers here. I think I have a better idea of the situation now.

[Raybyrnes]

This is an entirely differnt story. I am with you here. I count my coins and if they are looking for a fee, and you have no reason to think that they are doing anything differnt than the next guy or if the sales agent hasn’t conveyed the value add, than I’m in your camp. I think it was a different psoter who stated the guareanted to buy you home so to me that seems like a pretty enticing piece to explore. Hopefully I didn’t ruffle your feathers here. I think I have a better idea of the situation now.

[Raybyrnes]

I don’t like fees any more than the next person. But there are different interest here. Plenty of home sellers are looking for discounts, rebates etc. I am not going to bag on them for doing so and if it is agreed to by the selling agent then good for the customer and bad for the agent. Likewise if a realator has a better system for selling a home and wants to ask for aaddional compensation then good for the seller and bad for the client.

Here is my question to you. If someone guaranteed to move you home in 10 days or pay you upfront full asking price for the home what is that worth to you. If they said 6% plus 1000$ fee, in this market I would probably pay. 2 year ago not a chance.

[Raybyrnes]

I don’t like fees any more than the next person. But there are different interest here. Plenty of home sellers are looking for discounts, rebates etc. I am not going to bag on them for doing so and if it is agreed to by the selling agent then good for the customer and bad for the agent. Likewise if a realator has a better system for selling a home and wants to ask for aaddional compensation then good for the seller and bad for the client.

Here is my question to you. If someone guaranteed to move you home in 10 days or pay you upfront full asking price for the home what is that worth to you. If they said 6% plus 1000$ fee, in this market I would probably pay. 2 year ago not a chance.

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