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First Time Buyer - Looking for advice & possibly representation


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#41 johnk

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Posted 03 November 2017 - 10:43 AM

Nope, many would have had multiple transactions. I'm sure there were plenty of Realtors with no sales, certainly more than 15%.


And really good agents listing and selling several in a month.

#42 MarkoJ

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Posted 03 November 2017 - 10:44 AM

Sorry, but this isn't rocket science.  If you have any questions regarding things registered against the title, etc a lawyer can easily define these.  Any questions you can ask a realtor, you can ask a real estate lawyer, they are highly skilled at their job with a long university education behind them in just the things you are dealing with

 

Honestly, there are 100s of things that come with experience that a lawyer can't really help you with. For example, over the years I've been presented with lots of vermiculite testing reports from reputable environmental companies. On three occasions I noticed the sample was collected by the inspector and not a technician from the environmental company. All three times I insisted it be re-tested and sample collected by the company and sure enough all three times it came back positive. 

 

It's one of those 100s of things picked up in over 600 transactions in the last 7 years, I know vermiculite has to be collected from the bottom lawyer not the top layer. There is no way a lawyer sitting in an office would know a small detail like this. 

 

There is value in an experienced REALTOR®. Do I think REALTORS® make too much for what we do? Yes, but I don't think the value is zero and can be completely replaced with a lawyer. 


Marko Juras, REALTOR® & Associate Broker | Gold MLS® 2011-2018 | Fair Realty

www.MarkoJuras.com - MLS® from $899 and $1,000 cash back for buyers | www.834sales.com & www.promontoryforsale.com - Building(s) specialist 

Looking at Condo Pre-Sales in Victoria? Save Thousands!

 

 


#43 MarkoJ

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Posted 03 November 2017 - 10:47 AM

Ah, another good point.

Does the 20/80 rule apply to real-estate sales, where the top 20% of agents account for 80% of sales?

 

I don't know exactly, but this year I'll be over 100 transactions and I am by no means near being top dog in Victoria.  You can find my sales spreadsheets for the last two years here -> http://markojuras.co...out-markojuras/

 

The top 10 (out of nearly 1,400) in Victoria are likely in excess of 1,000 transactions.


Edited by MarkoJ, 03 November 2017 - 10:59 AM.

Marko Juras, REALTOR® & Associate Broker | Gold MLS® 2011-2018 | Fair Realty

www.MarkoJuras.com - MLS® from $899 and $1,000 cash back for buyers | www.834sales.com & www.promontoryforsale.com - Building(s) specialist 

Looking at Condo Pre-Sales in Victoria? Save Thousands!

 

 


#44 tjv

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Posted 03 November 2017 - 04:17 PM

Don't know how to put this politely, but you are giving out incredibly bad information.

 

First of all, where have you "seen" 7%+3%? Unless you are a broker at a real estate brokerage you can't see this anywhere. 

 

If using a lawyer who is going to show you the house? Secondly, how will you get around this clause in listing contracts

 

"Buyer agent must physically introduce Buyer to property or Co-op fee reduced to $1,000."

 

When I started in real estate in 2010 I offered 70% cash back to my buyers. A number of REALTORS® decided to copy the business model; however, not all of them were actually showing the houses like I was. Therefore, clauses such as the one were brought to limit the amount of buyers calling the listing REALTOR® to show the property and then simply having the Buyer's REALTOR®or lawyer draft a contract.

 

I totally understand where you are coming from and I've been running creative real estate models for 7.5 years now but while your concepts are bang on there is also real life.

 

Finally, would you go see a dermatologist about your knee pain? I've represented a lot of lawyers over the years as very few lawyers actually practice real estate law. Interestingly enough most of my lawyer clients on the sale end of things have gone full service despite the fact I offer mere postings.

I remember specifically seeing 7 plus 3 on MacDonald Realty forms when I made an offer

 

Who is going to show the house when using a lawyer as a realtor? themselves, they don't need anyone to view a house, just look online for open house times or phone up and ask to look at the property

 

"Buyer agent must physically introduce Buyer to property or Co-op fee reduced to $1,000."

 

The above doesn't say WHEN he as to, so when you are serious and the offer is on the table, etc have your lawyer stop by his way home and say "there is the house, see ya" in 2 seconds"  I see nothing by that clause he even has to do anything more than step over the property line and right back to his car.

 

Would I see a dermatologist about knee pain, no way.  Would I see a real estate lawyer about real estate purchases, absolutely.  Am I going to see a personal injury lawyer about this, of course not.  I never said to see ANY lawyer.  A real estate lawyer has 7 years minimum of university, what does a realtor have?



#45 tjv

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Posted 03 November 2017 - 04:36 PM

Honestly, there are 100s of things that come with experience that a lawyer can't really help you with. For example, over the years I've been presented with lots of vermiculite testing reports from reputable environmental companies. On three occasions I noticed the sample was collected by the inspector and not a technician from the environmental company. All three times I insisted it be re-tested and sample collected by the company and sure enough all three times it came back positive. 

 

It's one of those 100s of things picked up in over 600 transactions in the last 7 years, I know vermiculite has to be collected from the bottom lawyer not the top layer. There is no way a lawyer sitting in an office would know a small detail like this. 

 

There is value in an experienced REALTOR®. Do I think REALTORS® make too much for what we do? Yes, but I don't think the value is zero and can be completely replaced with a lawyer. 

This goes to show your lack of experience with all due respect, vermiculite is automatically asbestos containing, it doesn't need to be tested.  Let me ask you can a homeowner remove asbestos legally themselves?

 

I understand you are fighting to represent your profession and I respect that, I really do.  I however feel that realtors are grossly overpaid for what they do.

 

In another thread you indicated that studying and passing an exam to build an owner built home was bureaucratic.  In a video you say if you have a question about a plumbing code phone a plumber, need the code for xxx phone yyy.  You strongly say this is designed to push homeowners to professional contractors.  In this very similar example with about 60 hours of coursework and an exam you can be a realtor.  I am saying the same thing, have a question about asbestos phone an asbestos contractor.  Finally I in no way condone the homeowner builder test, it is bureaucratic nonsense

 

No one is forcing anyone to see a lawyer, its a suggestion, one that could save tens of thousands.  I bought my home without a realtor and the only reason I got it was because I didn't use a realtor, even the seller said that



#46 LeoVictoria

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Posted 03 November 2017 - 10:11 PM

Ah, another good point.

Does the 20/80 rule apply to real-estate sales, where the top 20% of agents account for 80% of sales?

 

Yes, roughly.   Many of those 1500 realtors  have no sales (parked licenses) or just one in a year when they want to go on vacation.



#47 LeoVictoria

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Posted 03 November 2017 - 10:12 PM

Honestly, there are 100s of things that come with experience that a lawyer can't really help you with. For example, over the years I've been presented with lots of vermiculite testing reports from reputable environmental companies. On three occasions I noticed the sample was collected by the inspector and not a technician from the environmental company. All three times I insisted it be re-tested and sample collected by the company and sure enough all three times it came back positive. 

 

It's one of those 100s of things picked up in over 600 transactions in the last 7 years, I know vermiculite has to be collected from the bottom lawyer not the top layer. There is no way a lawyer sitting in an office would know a small detail like this. 

 

There is value in an experienced REALTOR®. Do I think REALTORS® make too much for what we do? Yes, but I don't think the value is zero and can be completely replaced with a lawyer. 

 

The thread is about a new condo.  A lot of the gotchas only apply to resales.   



#48 LeoVictoria

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Posted 03 November 2017 - 10:15 PM

This goes to show your lack of experience with all due respect, vermiculite is automatically asbestos containing, it doesn't need to be tested.  Let me ask you can a homeowner remove asbestos legally themselves?

 

You are wrong about vermiculite.  Not all of it contains asbestos.  https://www.ccohs.ca...ermiculite.html



#49 tjv

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Posted 04 November 2017 - 07:54 AM

^I was told independently by 3 separate asbestos contractors.  I think its something about worksafebc regs



#50 MarkoJ

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Posted 04 November 2017 - 08:46 AM

The thread is about a new condo.  A lot of the gotchas only apply to resales.   

 

Hey Mike,

 

Any chance we can recover this article from 2014, I believe I had 5 photos with arrows explaining things attached as well.

 

Pre-sale condo buying tips to save you money, time and disapointment

By Marko Juras, VibrantVictoria.ca

http://vibrantvictor...-disapointment/

 

One of the things so many buyers enjoy most about pre-sale condo purchases is the anticipation. Unlike buying a completed home, a pre-sale purchase oftentimes affords a buyer more choice, additional time to save money for a down payment, and the thrill of watching a new home rise from the ground.

 

However, what is presented on paper or through computer generated visuals may not always be what the finished product will look like. And in some cases completed units may present surprises that some buyers will wish they had known about prior to settling on a specific unit.

 

The following five pre-sale condo purchase tips were learned throughout several pre-sale purchases and are intended to assist buyers with making sure one of life’s most important financial decisions does not come with unexpected surprises. [Read full article]


Marko Juras, REALTOR® & Associate Broker | Gold MLS® 2011-2018 | Fair Realty

www.MarkoJuras.com - MLS® from $899 and $1,000 cash back for buyers | www.834sales.com & www.promontoryforsale.com - Building(s) specialist 

Looking at Condo Pre-Sales in Victoria? Save Thousands!

 

 


#51 MarkoJ

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Posted 04 November 2017 - 08:47 AM

^I was told independently by 3 separate asbestos contractors.  I think its something about worksafebc regs

 

I've seen asbestos not from Libby, Montana come back negative.

 

and why would vermiculite be tested in the first place if it is automatically negative?


Edited by MarkoJ, 04 November 2017 - 09:00 AM.

Marko Juras, REALTOR® & Associate Broker | Gold MLS® 2011-2018 | Fair Realty

www.MarkoJuras.com - MLS® from $899 and $1,000 cash back for buyers | www.834sales.com & www.promontoryforsale.com - Building(s) specialist 

Looking at Condo Pre-Sales in Victoria? Save Thousands!

 

 


#52 MarkoJ

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Posted 04 November 2017 - 09:00 AM

In another thread you indicated that studying and passing an exam to build an owner built home was bureaucratic.  In a video you say if you have a question about a plumbing code phone a plumber, need the code for xxx phone yyy.  You strongly say this is designed to push homeowners to professional contractors.  In this very similar example with about 60 hours of coursework and an exam you can be a realtor.  I am saying the same thing, have a question about asbestos phone an asbestos contractor.  Finally I in no way condone the homeowner builder test, it is bureaucratic nonsense

 

No one is forcing anyone to see a lawyer, its a suggestion, one that could save tens of thousands.  I bought my home without a realtor and the only reason I got it was because I didn't use a realtor, even the seller said that

 

Look at my signature....I am offering for sale by owner services. I have zero issues with people cutting out a realtor.

 

Your advice, while on the right tract, just doesn't go hand and hand with how things actually work in real life. 

 

LeoVictoria can back me up that I've talked for years on HHV about a fee model where a realtor charges $x amount for showings/writing offers/etc., and then rebates the remainder of the cooperating commission back to the buyer. This is how thing should work in my opinion, but the system isn't there. 

 

You average buyer would be way too stressed out counting showings/unsuccessful offers/etc., receiving invoices every month, even thought the odds of probability would favour them saving thousand of dollars in the end.


Edited by MarkoJ, 04 November 2017 - 09:01 AM.

Marko Juras, REALTOR® & Associate Broker | Gold MLS® 2011-2018 | Fair Realty

www.MarkoJuras.com - MLS® from $899 and $1,000 cash back for buyers | www.834sales.com & www.promontoryforsale.com - Building(s) specialist 

Looking at Condo Pre-Sales in Victoria? Save Thousands!

 

 


#53 Rob Randall

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Posted 04 November 2017 - 09:36 AM

Hey Mike,
 
Any chance we can recover this article from 2014, I believe I had 5 photos with arrows explaining things attached as well.


All old articles have been deleted, unfortunately. But some are archived:

https://web.archive....-disapointment/

"[Randall's] aesthetic poll was more accurate than his political acumen"

-Tom Hawthorne, Toronto Globe and Mail


#54 Mike K.

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Posted 04 November 2017 - 01:20 PM

Yeah, they were deleted as part of a server switch that dumped a bunch of data by accident.
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#55 Bingo

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Posted 04 November 2017 - 03:19 PM

:whyme:  :mad:   :badpc:  :badpc:   Dumped.



#56 tjv

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Posted 05 November 2017 - 07:44 AM

I've seen asbestos not from Libby, Montana come back negative.

 

and why would vermiculite be tested in the first place if it is automatically negative?

I am just reporting what I heard independently from 3 asbestos contractors.  I will ask again next time I am talking to them.  Maybe there is a procedure for say 0 to 2% and another above 2%?

 

I really don't think buying/selling a house is that hard.  The issue that makes it stressful is that for 99% of the population its their largest asset and they don't want to screw it up.  You do make it sound much harder than what it is.  Multiple offers, sure, rank the 3 highest offers by price and conditions, the rest go in the recycle bin.  I think a buyer can look at houses without a realtor, heck I think its a lot better not having a salesman buzzing in your ear.  I've shown up at plenty of houses that were for sale and knocked on the door to ask if I can look around.  The homeowner have always let me in, unless they were entertaining of course, because they want to SELL their house.  If you are concerned about a particular item and are serious about the house, call in a professional to look at it, like an asbestos consultant would charge you around $800 to confirm if the house is asbestos free or not

 

Anyway, I think I have made my point, there is no point in beating it to death.  Ultimately its up to the buyer to decide how they want to purchase

 

I would be fine with realtors if they lowered their rates substantially.  I think $10k to cover marketing fees and split between 2 realtors is ok for an average house.  Obviously if its a $3+ million mansion those take a lot more effort to sell, so I could see a higher fee



#57 Mike K.

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Posted 05 November 2017 - 07:56 AM

You’re not likely to receive a homeowner’s permission to start tearing up drywall or other components to test for asbestos, though.

And I would personally never let someone off the street enter my home and look around all willy nilly. Can someone say scoping a place out for a break-in? No agent, no entry, and no entry without a pre-determined appointment where the home is presentable, sensitive materials are hidden from view, etc.

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#58 tjv

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Posted 05 November 2017 - 08:17 AM

^Or they could call up the realtor, wait a day for a viewing and still scope out the house for a break-in.  What's the difference?

 

I've knocked on doors and people let me in.  Perhaps they saw a well dressed professional driving a $120k car

 

I remember only 3-4 years ago houses took forever to sell, one friend's house took about a year to sell and he would have done anything to sell it.

 

I'm also not suggesting that on the first visit they are testing for asbestos, that comes later at the serious stage.  They also don't "tear up drywall" its about the size of a small nick in the drywall


Edited by tjv, 05 November 2017 - 08:19 AM.


#59 Mike K.

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Posted 05 November 2017 - 08:42 AM

The difference is someone with ill intentions would never call up a Realtor and schedule a viewing.

 

Jeepers, tjv, you're sounding more and more like a former member on this forum who also had a similar shoot-from-the-hip, I'm-a-rich-guy-with-nice-car sort of style.

 

 

 

 

 

 

 

 

 

 

:rtfm:


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#60 tjv

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Posted 05 November 2017 - 08:58 AM

^I don't see much of a difference, but perhaps I trust people and can generally size people up quickly.  A thief could very easily call a realtor for a viewing to scope out a place.  The service guy could be casing your place during a service call.  I remember when I was much younger a friend was a mover and he remarked to me he knew the entire contents including the layout of the house he was moving and if he had low morals he could easily sell that info to certain people for a break in.  Anything is possible, but I don't lay awake at night worrying about it, but it sounds like you do which is your choice

 

No, I've never been a member before



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