3July2008

Cable Bay Development Controversy: The plot thickens

Posted by Ryan Coffey under: Nanaimo Profile and Events; eco.

This is a topic that I’ve been seeing popping up in the local papers ffrom time to time in the past few months. Plans to build a large development and golf resort in Cable Bay (next to a rather nice nature trail by the same name south of town in Cedar) have been controversial from the start. But according to the article below, which I found in the Nanaimo Daily News, the movement is gaining steam. They have until August 5th to collect enough signatures to make the city of Nanaimo stop it from going through.

Looks like they’re likely to pull it off from what it says below.

Ryan Coffey

Petitioners aim to stop development

Protesters want vote on Cable Bay

Darrell Bellaart
Daily News

Four thousand people have already signed on the first day of a campaign to prevent Nanaimo from annexing 90 acres of rural land for an 1,800-unit subdivision and destination golf course at Cable Bay.

Beverly Eert is leading a group of volunteers in a drive to get signatures from 5,815 Nanaimo residents and prevent the city from annexing 1260 Phoenix Way, an uninhabited property for the development.

They have until Aug. 5 to get those signatures. The city applied to the province in February to extend the city limits south to accommodate the development. Under provincial rules, a land annexation is considered to have local support unless at least 10% of voters sign letters saying otherwise. Nanaimo has 58,155 voters.

When the city set the Aug. 5 deadline, members of Save our Strategy, a grass-roots organization that opposes the development, originally said it would be too difficult to collect the signatures needed. But Eert is convinced it’s doable.

She and several volunteers set up a booth, with a handmade architectural model of the development during Canada Day festivities at Maffeo-Sutton Park on Tuesday, where she said she people were eager to sign.

"We got 405 signatures," Eert said. "If we had another half-dozen volunteers, we would have got double that. There was tremendous opposition, mostly to the process."

So far, Cedar residents have been the most vocal opponents to the development, which would be right in their backyard. Eert, who lives in Cedar, said this proves city residents also oppose the annexation.

"Most of the people didn’t know much about the project. I would say it was ignorance. Once they looked at the model and listened to what we were saying about the process, people said it wasn’t democratic.

"Remember a few years ago, when Shaw (Cable) said they were going to add a few channels and bill us for it, unless we said not to? A lot of people said it was like that."

She said the city should hold a referendum. "If we get 6,000 signatures, we’ll have to go to referendum anyway. We will force them to do the right thing, however expensive it may be."

Only signatures of qualified Nanaimo voters can be counted under the so-called alternative approval process. Qualified voters must either live in or own land inside the city.

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2July2008

Eco Business Mission

Posted by Ryan Coffey under: Uncategorized; eco.

Steeping slightly outside my usual realm of juts Real Estate, I wanted to put the call out to toher business owners and consumers in the area to stop just talking like you care and do something about it.

I’m currently trying to get in touch with all businesses in the area who are trying to do more than just what is expected of them in terms of doing business in an eco friendly way as I would like to start a local collective of local eco businesses. My vision is for us to get together so we can network, send each other business/clients while putting some pressure on the world around us to move towards a sustainable way of doing business. As a group, such eco minded businesspeople could certainly make a positive difference as well as help our businesses grow. If you happen to know of any businesses or business people in the central Island area who are trying to raise the bar in terms of doing business sustainably, would you mind writing to me and letting me know the name of the person/company? I have a couple already, but the list should be longer in my eyes.

Someone came up with a similar idea a few years back and I bought into it. I’d like to share it with you, it’s called "one percent for the planet ", and organization to which, I am a member. Another blogger has made a list of all the BC businesses who are part of it here .

And here is the explanatory video with music from Jack Johnson:

Later this month it will be my turn to donate 1% of my revenues to some charities which I’ll select from their long list. Looking forward to it.

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29June2008

Bridge from Nanaimo to Gabriola?

Posted by Ryan Coffey under: Nanaimo Profile and Events; Nanaimo Real Estate Market; Uncategorized.

I first read about this in the local paper yesterday and immediately thought it to be the beginning of a major event in Nanaimo real estate were it to occur. I’m willing to bet that it will be a controversial subject for Gabriola Island residents as their having to rely on a ferry to make it into town is simultaneously what gives Gabriola its charm as well as being a ball and chain. You see, if you miss the last ferry while on the Nanaimo side of the water… you’re stuck for the night. Plus you have to arrange your life around the ferries in general, not to mention pay for the ferry. A reason why after having lived there for a time, people fairly often give up on it and move into Nanaimo proper. However, there are those who live out there specifically for the semi isolation. You can see the source for controversy here.

Personally, I’d be surprised if it went through as I think that in even if the movement does gain enough support from those on Gabriola to go ahead, there will be the additional hurdle of convincing people to actually put tax money into it.

Regardless, I’ll be watching this with close interest because if plans for a bridge are announced, I’ll be very interested in buying some Gabriola real estate as I really think prices will go up there quickly once it becomes easy to access.

Below is an article on the topic from the Nanaimo Daily News.

Ryan Coffey

Robert Barron
Daily News
Gabriolans marched in protest of ferry fare increases in March.
CREDIT: Daily News file
Gabriolans marched in protest of ferry fare increases in March.

The idea of building a bridge linking Nanaimo with Gabriola Island refuses to go away.

The much-ballyhooed concept was raised again Friday. B.C. Ferries CEO David Hahn told radio show host Vaughn Palmer on Friday morning that the corporation is willing to spend $5,000 to conduct a survey of Gabriola Island residents to determine if they would rather have a bridge built, or continue with its ferry service to Vancouver Island.

B.C. Ferries spokeswoman Deb Marshall said the corporation had received a request for the survey after the corporation applied for fuel surcharges of 8-9% on major routes and 15-20% on smaller routes, including Nanaimo-Gabriola.

The substantial surcharges, which the corporation hopes will be in place by August, must be approved by B.C. Ferries Commissioner Martin Crilly before they become effective.

“First, we must discuss the survey idea with our ferry advisory committee on Gabriola Island to see if they support it,” Marshall said.

“If we decide to conduct the survey and the majority of Gabriola Islanders support building a bridge, then we’d take the matter up with the Ministry of Transportation.

“Gabriola is the only island we serve where we’re considering conducting a survey at this point because it was the only one from which a request was received.”

The idea of building a bridge between Nanaimo and Gabriola Island has been talked about since the 1960s.

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26June2008

Posted by Ryan Coffey under: Uncategorized.

As I’ve been writing for a couple of months now, we’ve been seeing a return to a more balanced market. Below is an article that speaks of it on the national level. The article’s title is kind of “Well, we knew that already… a couple of months ago.” for those who pay attention to these things at all, but some of the details it brings up are rather good info.

In Nanaimo we’re seeing a lot more listings as some people are trying to cash in their chips. Whether their timing is right or not, this action alone slows down the rise of prices and gives buyers the opportunity to pick and choose. At this point it’s not really clear who is running the show, but buyers are certainly in a better negotiating position than they were in the recent boom.

And again, I reiterate that the best time to buy a home is when you can afford it and need one. People who just need homes don’t need to worry a whole lot about the real estate market as long as they’re in a position to make their mortgage payments. Prices go up and down in the short term and up in the long term. FYI, you can buy a decent condo around Nanaimo for about $1000/mo. plus utilities. (That’s including the strata fee.)

Ryan Coffey

Canada’s housing boom is over, bank says
VIRGINIA GALT
Globe and Mail Update

After a long run of rapidly-rising prices, the Canadian housing market has cooled to the point that it is no longer a sellers’ market, Toronto-Dominion Bank said Thursday.

“The long-awaited end of the Canadian housing boom has occurred, reflecting more moderate demand and increased supply of properties for sale,” TD economists Craig Alexander and Pascal Gauthier said in a report.

“The year-over-year price growth for existing homes in Canada’s major markets fell to only 1.1 per cent in May, down from 8.6 per cent just four months earlier,” the TD economists wrote.

“The trend has been broadly based, but is has been particularly sharp in some of the markets that had experienced the most dramatic price growth. Calgary and Edmonton home prices in April and May fell to below year-earlier levels.”

The TD economists said they had expected the slowdown to occur before now, but “housing remained stronger for longer than we had anticipated, largely due to increased affordability through new financing options, such as no money down or extended amortization.”

Regional economic strength related to the commodity boom also helped to fuel “unsustainably elevated home price growth in the west,” they wrote.

Last month, the Canadian Real Estate Association reported that resale home listings across Canada rose by 17.7 per cent in April from a year earlier – pushing the number of home listings to the highest level on record.

At the time, Bank of Montreal economist Douglas Porter noted: “For the first time in a long time, sellers are not in the drivers’ seat any more. I’m not necessarily saying that buyers are in the drivers’ seat either, but what we’ve seen truly is a return to a balanced market.”

The TD economists concurred in their report Thursday.

“Most of Canada’s major housing markets have moved out of sellers’ territory to more balanced markets.”

Mr. Alexander and Mr. Gauthier forecast modest national average price growth of 2 per cent this year and 3.5 per cent in 2009, “down substantially from the 10 per cent annual pace of the last six years.”

However, the Canadian housing market remains fundamentally strong, unlike the U.S. market, where the National Association of Realtors reported Thursday that median home prices continued to fall. The median price of an existing U.S. home sold in May was $208,600 (U.S), down 6.3 per cent from a year earlier – fallout from the subprime mortgage crisis.

In Canada, the TD economists forecast an average existing home price of $313,300 (Canadian) in 2008, up 2 per cent from last year’s average.

Canadians, the TD economists said, are “cashing in, not foreclosing.

“… It should be stressed that the rise in listings does not reflect homeowners of principal dwellings desperate to sell, and this is the dominant difference between the Canadian and U.S. experience,” they wrote in their report, Canada’s Housing Boom Comes to an End.

“Indeed, the U.S. has been characterized by an abnormal rise in delinquencies and foreclosures or large negative equity positions. In Canada, speculators may be quickly dumping properties on the market to get out while the times are good, but individuals that have a principal dwelling are not under financial duress.

“Canadian consumers are nowhere nearly as leveraged through their home equity as American consumers are.”

Throughout the rest of this year and 2009, most regional housing markets in Canada “will see low to mid single-digit gains, but Saskatchewan and Manitoba will continue to post double-digit gains in the near term, followed by a significant cooling in 2009 – with the risk of a mild price correction in the major cities that have recently experienced extraordinary price growth,” the TD economists said.

“Alberta will have further weakness in the near term, as Calgary and Edmonton will likely see prices continue to fall for another three or four quarters, dropping 8 per cent to 10 per cent from their peak, after which prices should stabilize and start rising at a low single-digit pace.”

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23June2008

A Short tour of Nanaimo

Posted by Ryan Coffey under: Uncategorized.

Here’s a short video tour of Nanaimo I just came across on the web. It starts off with showing some of the scenes of the waterfront downtown and eventually pulls into the parking lot of my office to visit the ducks in the lake behind it. Below the video, I’ve time indexed the locations and put them on a map so that those of you who don’t know the area can get an idea of where these places are.

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The walkway along the waterfront where there are numerous shops, restaurants, float places that will take you to Vancouver (or the airport) in 20 minutes , ferries to Newcastle Island (a park) Gabriola Island, and Protection Island. There is a small beach for swimming there as well. The large blue boat you see is the catamaran that was until recently a foot passenger ferry from Nanaimo to Vancouver, which may or may not be revived. (The company had some financial issues although it was fairly popular.) Behind the boat, there is the Dinghy Dock Pub which I’m told is North America’s only floating pub. Oh yes, and all around you is waterfront park. On the real estate side there are waterfront condos and a shopping mall across the way.

1:32

You see an image of someone driving in the highway, the white building on the right is my office, with the Coast Realty sign. (Which you can’t quite make out, but that’s what it says.) The car pulls into the parking lot in the back where you see some ducks hanging around the edge for Long Lake. A popular place to swim, go boating, waterski and go for a stroll. As you can see in the video, there are houses that are situated to peer over the lake and take advantage of the view.

Zoom out a bit to see both of the location markers.


View Larger Map

Ryan Coffey

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18June2008

The search is on for a location for the 6,000 seat multiplex.

Posted by Ryan Coffey under: Uncategorized.

Here’s an article I found at the CHECK news website. I remember about two years ago when they started to try to garner community support for this project by distributing printed material around town and it certainly looks like things have gone well for the cause. Personally, I’m not sure if we need such a large multiplex considering the number of similar (albeit smaller) centres we have around Nanaimo, but I think that if we were to do it, it would be a great idea to try to find a spot somewhere downtown.

In my mind it would be a perfect way to further the synergy of the new conference centre, the port theatre, the waterfront park, the restaurants and shops, coach lines station, train station, the new communtiy theater that is yet to open, all the new condos and etc in the downtown area. The resurgence of downtown is something I have long been behind as I have felt that it was exactly what this town needs to go on to the next level of being a place of idylic lifestyle.

Nanaimo loves sports, so I’m sure there’s support for this sort of thing in the community. Our close proximity to Vancouver (and thus the international airport which is only 20 minutes away itself by float plane, as is downtown Vancouver) would in my eyes possibly give Nanaimo the potential as a cheaper venue for concerts and sports events that aren’t quite on the scale required to make money in the big pricey city just across the water.

Ryan Coffey

Council begins search for multiplex location

Downtown facility will be large enough to seat 6,000 sports fans or concertgoers

Darrell Bellaart
Daily News
Nanaimo City Coun. Larry McNabb prefers a downtown location for a sports and entertainment centre in the city.
CREDIT:
Nanaimo City Coun. Larry McNabb prefers a downtown location for a sports and entertainment centre in the city.

The search for the best site for a sports and recreation multiplex is about to start.

City staff plan to issue a request for proposals next month for an architect or urban planning firm to shortlist the best downtown sites for a multiplex large enough to seat 5,000 to 6,000 hockey fans or concertgoers.

Some see it as the next step in diversifying Nanaimo’s economy, since it would allow a Western Hockey League franchise, while ramping Nanaimo up a rung or two on the trade show and concert circuit.

City council recently directed city hall staff to start the search about six weeks ago.

Coun. Larry McNabb prefers a downtown location because it carries forward the push for downtown revitalization started with the Port of Nanaimo Centre.

A report to council Monday lays out the criteria the consultant would be required to follow in that search

"Part of it is to do a bit more of a thorough review, and I guess an unbiased review," said Maurice Mauch, city construction project manager.

"I guess part of it is with any consultant, hopefully they will look at it with open eyes to see everything that is available, rather than just staff or what council directs them to, they’re going to go and have a look at it, I think, with a fresh set of eyes."

The goal is to find sites that meet downtown urban planning guidelines, are suitable to host trade shows that would complement the Port of Nanaimo Centre, meet safety and security needs, be accessible to pedestrians and have ample parking. Sites would also be rated for their transportation impact, site servicing and improvement costs and ease of acquisition and assembly.

The request is expected to go out July 4, with an Aug. 11 closing date. A draft report would be expected in November and a final report would be expected Jan. 16, 2009.

Any bidder would be required to disclose any connection to a city councillor or a member of council within the previous six months.

Last year the company that owns the Clippers hockey team submitted a $45-million proposal to build a multiplex at Beban Park. Coun. Bill Bestwick owns a share in that company.

But Mauch said there is "nothing nefarious" in including the disclosure condition in the bidding process.

"That’s in all our requests for proposals, that’s just a boilerplate that we put in there," Mauch said.

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13June2008

Still a shortage of Rentals in Nanaimo

Posted by Ryan Coffey under: Uncategorized.

The ongoing saga of low rental rates in B.C. continues. I know that the city is currently working on a plan to make it easier for homes to have a legal secondary suite, but as far as I know the plan isn’t finalized yet. I’ll be interested to see the details once it is finalized. Until then, we still have a lot of reports coming out in the local newspapers such as the one below.
If you’re one of the people having trouble finding a place. Let me say good luck to you. But look on the bright side, at least you aren’t trying to find a place in Japan where by the time you move in, you’ve probably spent about $3000 - $5000 (or more) in various fees and basic purchases on top of rent. And that’s after you’ve spent ages trying to find a decent place that will rent to a non Japanese. Can you tell I’ve gone through all this?:)
Wow, there’s that feeling of being glad to live out here again. As someone said to me today "It’s like living in a park."
Ryan

Rental vacancy drops lower than B.C. average

Robert Barron
Daily News

The fact that vacancy rates for rental units in Nanaimo have decreased during the past year comes as no surprise to Andrew Tucker.

The head of the city’s community planning department said a report released by the Canada Mortgage and Housing Corporation on Thursday that suggests Nanaimo’s vacancy rate has dropped from 1.5% last year to just above 0.5% this year corresponds with what he’s been seeing in the community.

There are only about 3,400 rental units in Nanaimo.

"There’s no doubt the rental market is tight here because a lot of the new jobs being created in Nanaimo are in the service industry and a lot of these folks are looking to rent at the same time that there’s less to rent," Tucker said.

"Nanaimo has a policy that’s in effect now that if rental vacancy rates drop below 3%, we don’t allow conversions from rental units into strata but the vacancy rates continue to drop despite the fact that 30% of new housing in the city have secondary

suites.

"A lot of it has to do with the fact that there are no more rental buildings, with 24 to 36 units, being built anymore mainly because there are no more government programs and incentives to build them."

Nanaimo is not unique in B.C. with dropping rental vacancy rates, but it does have one of the lowest.

Strong demand for rental accommodation throughout the province pushed the apartment rental vacancy rate down to an average 1.1% in April from 1.2% a year ago, according to the Canada Mortgage and Housing Corp. report.

The metro Vancouver vacancy rate remained unchanged from a year ago at 0.9% while Victoria’s rate fell from 0.8% to 0.3% and the rate in Kelowna dropped from 0.7% to

0.3%.

However, the apartment vacancy rate in Abbotsford rose from 0.6% to 2.4% while the rate in Prince George increased from 2% to 2.7%.

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11June2008

Buyer on a Budget? Read this.

Posted by Ryan Coffey under: Uncategorized.

Houses aren’t something that every first time buyer can afford these days. There are still some houses under 250k, sure but every one of them is very small and/or in need of lots of work. In fact under 280k is where I currently telling people to expect fixer uppers in a medium sized home. And don’t forget, the costs of the house are beyond the price tag and closing costs. You have to maintain it too, and not just when things need to be repaired but also preventatively. This should be obvious, but I’m speaking mainly to first time buyer on a budget here who may not have thought about such things much before.

If after speaking to a mortgage broker, you find out that houses are out of your price range, there are of course other options. And these options are the crux of this article, what your options are when you can’t afford a house but want to buy. There are some decent small houses under 250k in Nanaimo, but if you have a family, and want a quiet location, the pickings are slim. The other options are condos, townhomes and trailers… oh sorry, we’re supposed to call them "mobiles" these days aren’t we?

Trailers/Mobiles have a bad rep for being in a neighbourhood of debauchery, but this isn’t typically the case in this area. In fact most of the trailer parks, er… mobile home parks in this area are actually pretty pleasant neighbourhoods and the mobiles themselves are typically surprisingly roomy, clean, and comfortable. Like any type of home, there are cheap ones that aren’t so pleasant but the average mobile home is much more livable than what that (hilarious) TV show, "The Trailer Park Boys", suggests. Some buyers who are trying to save money think of buying a trailer/mobile but what they don’t know is that behind that low asking price is a high monthly fee for pad rent. Typically $300/mo and sometimes more. Remember that you’re going to sell your real estate one day, and the more your money goes into the mortgage rather than a monthly fee, the more you’ll get back when you sell the place and use that money to buy something else. With a mobile, you’re going to be paying a small mortgage (or loan depending on the mobile) plus rent, and then all those maintenance fees to boot. What I’m getting at is that this means that less money will be going into your investment in a way that pays back later. What you end up doing is paying cheap rent as well as a cheap mortgage at the same time. And yes, you still have to pay taxes. Having said all this the plus of a mobile is that you get a bit of a yard and no one is living above or below you, or sharing walls. Typically you have a bit more space than your average condo too.

Conversely, you could look at townhomes and condos. The strata fee varies wildly on them depending on a lot of things, but in terms of the cheaper than a basic house price range, most of the monthly fees are between $115 and $200 per month. The good news about these fees, is that part of that money goes towards maintenance of the exterior of the complex. The bad news is that once in a while, extra fees are charged when it turns out that the complex has a leak. However, typically, that extra fee can be gotten back in the resale value once the work has been done.

Of course, in terms of money back for your investment, a house is more likely to deliver. But when on a budget and houses are out of reach, let’s face it, the world is changing. It always has been, and those who live gracefully are able and willing to change with it whatever direction it may take. Others wait for the world to go their way, which it may, or it may not. In a world that is approaching a population of seven billion people, space is becoming an ever precious thing. And that’s something they say often about real estate, "Land is the one thing they’re not making more of."

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6June2008

Market has changed. A wake up call for sellers.

Posted by Ryan Coffey under: Uncategorized.

There has been an increase of active listings of late. We’re not currently seeing a drop in home values, but time will tell if that is going to happen or not. Right now, the numbers are still showing increases in value but in a way that is showing some uncertainty as to whether it will continue, flatten out or drop slightly. Only time will tell. You’ll hear lots of pundits speculate, but you won’t hear it from me. The closest I come to this is telling you what I’m hearing from all the economists, and the jury seems to be out at the moment.

Regardless, if you’re selling a home, list it realistically. In a boom market like we’ve had for the past few years, people have virtually been able to get away with murder with how they price their homes as even an overpriced place might get sold as buyers snatched up listings. But now, you have to price competitively. Remember, your house is only worth what someone will pay for it. Not a penny more. And when there’s lots of competition out there you’ll have to think carefully about not overpricing it. (Read some of my "tips for sellers" on this.)

Buyers, first time buyer especially, guess what? More to choose from, hooray! First time buyer thinking of holding off and waiting to see if prices drop? Don’t hold your breath, I’ve yet to hear anything convincing to say that we’ll have a drop in prices that would be of the sort that would make it cheaper in the long run to rent for a while rather than buy. Buy something modest if you’re unsure. Like I always say, the time to buy a home when you need it and can afford it. Besdies, prices only go up and down in the short term, in the long term they increase, it’s just a matter of time. If you’re an investor, or planning on moving to a totally different market it’s another game.

Ryan Coffey

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2June2008

Whose side is your Realtor on?

Posted by Ryan Coffey under: Buying; Uncategorized; selling.

Ever think twice about calling that Realtor whose name is on the sign in front of that lovely home? Maybe you will now.

Here’s a post that is guaranteed to ruffle the feathers of a few of my Realtor cohorts. I wrote something to this effect on my website , but I felt it deserved some attention here too.

I’m trying to inform the public about a practice in real estate that is perfectly legal, but in my eyes has potential for abuse and is in it’s nature an area of ethical grey and therefore something I do not do. It is quite common, in fact according to a recent survey (the 2006 buyer’s profile released by VIREB last August ) 34% of those surveyed said their Realtor had handled both the buyer and the seller for the transaction of a real estate purchase. In the business, this is referred to as "double ending."

First off, I need to explain how this double ending thing works.

"Double ending" are two lovely words for realtors in B.C., (and I imagine in any area that has a similar system) as it equates to making twice the commission in one sale. Typically, when a property is sold, one Realtor represents the buyer and one represents the seller. Each Realtor is required to look after his/her client’s interests as if they were his/her own (aka fiduciary duty). Both sides haggle over things like prices, dates, subject clauses, chattels included, etc. and although the goal of everyone involved is to make a deal that keeps everyone happy, in most cases neither Realtor is going to have reason to be upset should those buyers move on to another listing. It’s going to mean more work, but so what, this is people’s finances, hopes and dreams we’re talking about.

However if a Realtor is representing both ends of the deal, it means making twice as much money for one sale by handling both ends of it. (More work goes into working with buyers by the way.) They don’t have to work as hard and they make more money. Instead of making say $5000 minus deductions, they make $10,000 minus deductions. That’s a lot of money to wave under someone’s nose and then expect them to truly protect the interests of each party impartially. The Realtor’s own interests are more likely to get in the way.

To be fair, it must be mentioned here that Realtors are required by law to keep private information of each party from the other in this situation lest it give one side an unfair advantage. For example, they’re not allowed to tell the buyer what the seller will accept and they’re not allowed to tell the seller what the buyer will pay. But they’re also supposed to disclose disclose disclose as in all other transactions. But after waving all that money under their nose, I wonder how much pertinent info gets kept silent in some deals.

In essence, once this sort of situation is entered, the Realtor ceases to be your hired gun and becomes a sort of arbitrator to the deal. They inform you and help the process along instead of doing that plus looking after just you. The same goes for the client on the other side of the deal.

This arrangment, like everything else we do, is something that we have to disclose to our clients on both sides of the deal and they even have to sign a document to acknowledge their approval. The thing is, I know that most people put a lot of trust in what their Realtor tells them and I know that there is the odd Realtor with a silver tongue who is willing and able to make any situation sound "perfectly fine." or like "a great opportunity" when it is not. Such Realtors aren’t the norm, but there are a handful of them out there and I think they’re hard to spot unless you know them or the local Real Estate world well.

To illustrate all this another way, let me lay out the benefits of working with the very few of us (I’m only aware of two or three besides myself) who have a policy against double ending:

Benefits for working iwth a non double ending Realtor for Buyers :

  • When your Realtor shows you a property and they get excited about it, you know it has nothing to do with them making extra commission off of it.
  • Your Realtor is much less likely to try to choose your property for you/take you to view their own listings rather than show you ones you are most likely to like based on your own tastes.
  • Your Realtor will stay on your side throughout the process.
  • Your Realtor will tell you anything they can to give you an advantage in negotiations.

Benefits for working iwth a non double ending Realtor for Sellers:

  • The listing for your home won’t become one of those ones that aren’t properly presented on the MLS system. (I have a theory that some of the big name Realtors sometimes try to hold a good listing back from getting attention on the MLS by not entering proper comments or all the photos for example. This way, buyers working with other Realtors are less likely to view the property but the listing Realtor can bring their own buyers through to buy it.) Rules are in place to make this difficult, and it is, but not impossible.
  • Your Realtor will stay on your side throughout the process.
  • Your Realtor will tell you anything they can to give you an advantage in negotiations.

Of course, all this begs the question: "What do you do when asked to double end Ryan?"

The answer : If you’re a buyer, I’ll show you the property. It’s my pleasure. If it interests you, I’ll refer you to another Realtor who I trust to look after you properly to look after the sale. If it doesn’t interest you, no problem we can go look at other properties until you find the right one for you.

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