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#101 Victoria Watcher

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Posted 08 November 2021 - 05:15 PM

One solution could be making real estate agent licensing more onerous and robust to keep the roster to the most qualified individuals. And thus they will be the best to advise on both sides.

Edited by Victoria Watcher, 08 November 2021 - 05:15 PM.


#102 Mike K.

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Posted 08 November 2021 - 05:20 PM

Granted, every measure the government has taken to force something, it has come back to hurt the industry and consumers.

Cooling off periods make sense when you’ve got 100-units in a pre-sale and a buyer really stuck on a specific floorplan has many options and a developer can mitigate the situation with some finesse and perks. But when it’s a one-off home? How do you hang on to interested buyers? Do they then have to lock in their #2 choice, while waiting to see what happens with #1?

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#103 Mike K.

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Posted 08 November 2021 - 05:21 PM

One solution could be making real estate agent licensing more onerous and robust to keep the roster to the most qualified individuals. And thus they will be the best to advise on both sides.


Or requiring agents to list for reasonable prices? If everyone can agree the listing is half a million dollars lower than it will sell for…

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#104 Victoria Watcher

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Posted 08 November 2021 - 05:22 PM

and then there is a stigma with a re-list or a many-days-on-market listing. Which the cooling off period might create.

#105 LJ

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Posted 08 November 2021 - 10:20 PM

So what about asbestos testing, etc? We will force the seller to have ten 1''x1'' samples cut out of their home and sent for asbestos testing?

I don't know, I have never bought/built a house that old.

But from what I do know, as long as you don't disturb the asbestos, it's pretty safe.


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#106 MarkoJ

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Posted 09 November 2021 - 02:23 PM

Why has no one brought up a cool-off period for sellers as well? They also face some of the similar challenges such as working with inexperienced agents selling their biggest asset that is likely their retirement savings. Shouldn't sellers be protected as well if we are going to protect buyers?


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#107 Victoria Watcher

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Posted 09 November 2021 - 02:32 PM

Wouldn’t it work for both?

It’s a stupid idea anyway.

#108 JohnsonStBridge

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Posted 16 December 2021 - 03:45 PM

Trudeau has instructed the following measures to the Minister of Housing in their mandate letter:

  • An anti-flipping tax on residential properties, requiring properties to be held for at least 12 months;
  • Increased consumer protection and transparency in real estate transactions, including a ban on blind bidding
  • A temporary ban on foreign buyers of non-recreational residential property


 



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