The real estate lawyer charge flat fee, usually less than 2k for every transaction. They went to the law school and still charge 2k. What real estate agents do worth way less than that. Let's do a flat fee of 2k for both seller and buyer agent
@Arminder-d4p
6 ай бұрын
100% agree
@Observer168
6 ай бұрын
100% agree! Real estate agents shouldn’t make more than a real estate lawyer!
@MentionBiscuit
6 ай бұрын
Pretty sick that this grift has lasted this long and enriched so many for very little work. Hopefully some long overdue changes are on the horizon.
@samoday2992
6 ай бұрын
Yep total of 1% in the uk.
@rrmackay
6 ай бұрын
The technology company Homey does exactly that, flat rate agent fees.
@Brian-dg3gh
6 ай бұрын
I personally found all three houses that I’ve bought and the only reason a realtor was needed is because you’re not allowed to go look at a house without them, which is ridiculous and a big waste of time. I’m sure some people need buyer agents, but a lot of people don’t so this change would be welcomed by many of us. There should also be improved options for people who want to sell a house themselves, because again many people are quite capable of doing so.
@althunder4269
6 ай бұрын
My "buyer's agent" was strong-arming me to pay more than my original offer to purchase. That's not in my best interests is it?
@archimedes2261
6 ай бұрын
Lol imagine going to a car dealership with an agent or you're not allowed 🚫 😆
@belle190
6 ай бұрын
Not sure where you live. But Husband and myself looked at 6 different homes without an agent. They asked we said nope we are on output own not wasting anyone’s times until we are sure. No issues at all.
@Brian-dg3gh
6 ай бұрын
@@belle190 how did you get into the house? I’m not talking about open houses.
@CallPaula4RealEstate
6 ай бұрын
Security is an issue these days, who is the people wanting to see your home. Are they buyers OR robbers.
@priuss6109
6 ай бұрын
Absolute no need for buyers agent. Just like buying used cars - I don't walk into a dealership with my own agent.
@boogyjuggy
6 ай бұрын
bingo....i have bought and sold 7 homes on my own....they are a waste of skin....most lie daily
@milhouse8166
6 ай бұрын
There should be buyer agents for car purchases though 😂
@ryaniam22
6 ай бұрын
@@milhouse8166Hope this was sarcasm. Otherwise a complete fail
@milhouse8166
6 ай бұрын
@@ryaniam22 Agreed.
@timshammm
6 ай бұрын
@@boogyjuggy that's very impressive -- can i buy you lunch to learn more? Sincerely
@VangeliRock
6 ай бұрын
I'll be selling my home privately. 5% is just too much money to give. I've sold 3 properties in my lifetime and the money I have up I could have really used right now. A shake up is needed. I have nothing againts people being paid for their services, but come on, $750K sale thats almost 40K gone. Commissions should have gone down with the average home price going up.
@Wolfpack1298--3
6 ай бұрын
No buyers agent needed in reality. They just open the door for you. Buyers have a real estate lawyer that will do a lot of hard lifting.
@MM-qv5lf
6 ай бұрын
You can't even go and see homes without an agent, as a buyer, so it's necessary to have an agent as a buyer. Nobody will book a showing for you if you don't have an agent.
@fycfyc1
6 ай бұрын
@@MM-qv5lf That's the problem then, the realtors fix the rules of the game in their favor. Most the showings I've been to I know more about the property than the agents...their whole purpose is to open the combi lock that contained the house keys... and somehow if I buy they make money lol
@SA-qk8uh
6 ай бұрын
@@MM-qv5lfnot anymore.
@Observer168
6 ай бұрын
100% agree! Real estate agents shouldn’t make more than a real estate lawyer! What a sham!
@JeffSSartor
6 ай бұрын
100000%. The lawyer does all the work
@PatrickNovotny
6 ай бұрын
Next time hire a lawyer and you can billed by the hour. 😜
@milhouse8166
6 ай бұрын
@@JeffSSartor you seriously think all the work is paperwork 🤦🤦🤦 how old are you
@AlexM-iq3nh
6 ай бұрын
It never made any sense that someone can go to "school" for 3 months and make that much money for showing a few houses. Engineers and scientists with PHDs dont even make as much as a lot of these realtors.
@Observer168
6 ай бұрын
My real estate agent has an engineering degree. He said selling homes is less work and makes way more.
@milhouse8166
6 ай бұрын
Takes a lot longer than 3 months and costs money too. And if you take the AVERAGE realtor salary, you'd see they don't really make that much on average.
@joei4ever
6 ай бұрын
@@milhouse8166yeah, costs a whopping 6k to get a license in couple months/year realtor afents are so overpaid. What I was thinking that in that 2.5% buyers fee, it should cover closing costs. I cant swallow the fact that a realtor sells lets say three 1 mil houses in one year and pockets 75K commission. after all dues and taxes that is still 50K cash. That is teachers yearly salary. let that sink in.
@arosrealtylondon
6 ай бұрын
Not true
@JamesTan295
6 ай бұрын
Fact is that these people who went to school for 3 months sold on average less than 1 property for the whole year of 2023. Those who make a lot from ‘showing a few houses’ are minorities in this market. Not suggesting the service is anywhere worth the fees, just facts.
@grandmaG67
6 ай бұрын
We moved from BC, realtor got 20,000. Bought a house in Alberta paid cash...realtor got 4000. It's ridiculous what they're paid in bc. Plus encouraging over paying to get a higher commission.
@TehPwnerer
6 ай бұрын
Realtors are unnecessary thieves. There needs to be laws forcing all bids to be public knowledge
@workoutathomewithdumbbell-7389
6 ай бұрын
Yeah, literally it’s a free money for less work. Most of them are ruthless and making the buyer to overpay. Seller and buyer agent work hand in hand (behind the scene), which is unethical.
@nitsakalkinis4135
6 ай бұрын
Biggest crooks next to Lawyers, Judges, Insurance Companies!!!
@eddobond76
6 ай бұрын
@@workoutathomewithdumbbell-7389You are 💯 correct , also it's almost monopoly when it comes to commission ,you really need to grind them down.
@stockey
6 ай бұрын
Indeed.
@IslandStyle123
6 ай бұрын
I am a realtor in BC. I agree with Jon on all his points. During the insanity of 2021-2022, I heard a story of a buyer who wrote an offer on a home. A second offer came in shortly after. The amount of the competing offer(s) is never disclosed, so it is all a guessing game. The first buyer raised his bid by a huge amount and ended up getting the house. I later found out that this buyer, who I did not work with, could have gotten the house for $80,000 less than what he bid if he had known the other offer. $80,000!!!! And that is just one instance. There were tens of thousands of instances.
@David-el8pk
6 ай бұрын
It bugged me when I had to pay commission to the buyer's broker. To me it should be the buyer's expense when the are employing a realtor to assist them in the purchase.
@toti35
6 ай бұрын
Having a buying agent is having two agents wanting and pushing you to buy the house regardless your opinion. Both are looking for their commission, their interest not yours.
@jeffotoole4509
6 ай бұрын
Let’s get this straight. If I’m buying a home I want to pay as little as possible. If I pay my mechanic $107 an hour which I do and I am more than happy to what should a buyer agent be paid?? If we use a typical 750k home how much should you pay a buyer agent to buy that house? Does $107 sound fair I think it does. So for a 750k home the way it is today at 2.5% that equates to the buyer agent working 164 hours on my buy. Roughly around full time 4 full weeks at $107 per hour. I have not bought or sold a house anytime lately but can anyone out there believe that a realtor is working 4 full weeks on your file? Thats why this is so eventful. This also rings true for a seller as well. I wonder why the real estate boards have such big advertising and lobbyists. Hummmm I wonder
@MentionBiscuit
6 ай бұрын
Excellent points! CREA are nothing more than a lobby group.
@joei4ever
6 ай бұрын
How many active working hours does realtor do to close a deal. Can someone who actually do this for living chip in? 5? 10? heck lets make it 40 hrs, so a 5 full days of doing whatever the f, even at a $150 an hour thats 6k. And no frkn way thats what they spend.
@mateofernando5066
6 ай бұрын
This is the end for buyer's agents. I foresee half of the 70K real estate agents in the GTA will need to disappear of find a different line of work, as the pie is going to get a lot smaller. I don't see any buyers willing to pay big money to buyer's agents. The mode of payment may need to change for buyer's agents. They will likely need to charge by the hour, as they are no longer going to get a pot of gold, by bringing a buyer. So, no more $36K for bringing a buyer for a $1.2M house, that can be sold in 2 weeks or less. THIS IS THE END FOR GET RICH REAL ESTATE BUYER'S AGENTS THAT DON'T BRING ANY VALUE. THERE WILL ALWAYS BE A NEED FOR GOOD LISTING AGENTS THAT KNOW HOW TO SELL!!!!! 🤔🤔🤔🤔
@priuss6109
6 ай бұрын
Hold your horses . it hasn't happened in Canada yet
@vmtl4659
6 ай бұрын
@@priuss6109hold your uber permit...it is going to happen sooner than you think
@althunder4269
6 ай бұрын
My "buyer's agent" was strong-arming me to pay more than my original offer to purchase. That's not in my best interests is it?
@renjiththariath7831
6 ай бұрын
Why the need for listing agents? Can't you list your house for a flat fee as well then? What's the difference? Get some pictures/video taken and post the property online.
@chriswiens9706
6 ай бұрын
No need for any realtors! I don't need my bank or a financial planner to help with my finances. I educated myself and manage it all, in the past 3 years my returns have been more than double what my certified financial planner was doing for me. I feel that same about realtors. Educated people can look an comps in the area, negotiate price and hire the right people for the home inspections and to right up an offer. A realtor brings NOTHING to the table buying or selling and they should all be phased out permanently.
@lynnrush7166
6 ай бұрын
I dislike that as just a private citizen in Canada I can’t see what houses sell for. With Zillow in the USA anyone can track what houses sell for. You can compare prices per square foot etc.
@priuss6109
6 ай бұрын
Housesigma has it for BC Alberta Ontario. Honestdoor for Manitoba
@mymailgmail2754
6 ай бұрын
canada transparency is lower than third world countries 😂😂😂
@lawrencehalpin6611
6 ай бұрын
Thank you Mr. Flynn for all the good information you give us every week.
@DeTodoUnPoco281
6 ай бұрын
In many countries only the seller uses a realtor to show the house, take pictures, stage, publicize, investigate to set prices, look into the background of the buyer, basically use their expertise to save the seller all of that work and advise them, they only charge a 2-3% fee but do a lot, it makes no sense to me to have a buyer's realtor's comission.
@nitsakalkinis4135
6 ай бұрын
Nobody knows your property better than you do!! Sell it yourself!!
@jo-annefox5333
6 ай бұрын
Base fee is best. Why should a realtor earn a percentage of your home? They do a job and should get paid accordingly- not a percentage. Also buyers have to pay lawyers, land transfer tax, moving costs, home inspections, mortgage fees, etc.. No wonder our generation of young buyers are unable to afford their own home.
@renjiththariath7831
6 ай бұрын
This generation is unable to afford because of the incompetence of the government. They've printed too much money which has caused serious inflation. They've also increased immigration to numbers which aren't feasible and have put a serious strain on the housing market. Closing costs are pittance in comparison.
@althunder4269
6 ай бұрын
My "buyer's agent" was strong-arming me to pay more than my original offer to purchase. That's not in my best interests is it?
@Chibling
6 ай бұрын
It is insane to use a percentage based compensation at all. We allow percentage based compensation for chicken wings and pizza... And housing. It is the most expensive thing to buy, amounting to taking a cut of many people's entire savings. Especially in a bubble.
@andrewvader9077
6 ай бұрын
So there wasn't a housing shortage it was all a bunch of investors speculators wrecking housing inventory?
@jonflynn
6 ай бұрын
Yep, I've been saying this for a couple of years. I saw them all buying up the inventory in my area and renting out
@andrewvader9077
6 ай бұрын
I@jonflynn I've seen this for BC from China ppl who are also investors. I feel this is a lot more domestic problem. There's a KZitem channel called The Looney hour. Who brought a guest from Bloomberg and he does stock trades based off sentiment LOL. He said halfway through the podcast that the US wealth is on the stock market so it's not meant to fail. Where he said in Canada it's all in the housing market. I know myself personally my landlord is in the 70s and he's invested in five properties. I know that's probably the investment strategy a lot of the elderly of his age have done is bought. I would like to see a report that outlines that demographic seen how many actual houses they bought in. Does the average is 1.5 and that's just using against all spectrums of ages when they should probably focus on the boomers. There was an article recently of two investors who just went belly up they had like 514 mortgages they all just went belly up. Alot fraudulent stuff happening. I can only hope for 40% correction. I doubt it will go 20%.
@HeatherRose_
6 ай бұрын
When I lived in far north Ontario most people didn't use realtors at all. It's only when we moved down south that we were told we needed a realtor to buy a house.
@stevecrockett29
6 ай бұрын
Keep em coming Jon!
@paulneumann4240
6 ай бұрын
I am not a realtor or in the business. Just own my house in BC. Percentage fees is the issue. Prices and commission got out of whack. Same with our property purchase transfer tax, which is also percentage. Change it to fee for service and have a schedule ,just like dentists. That's allowed .
@John-u4l9y
6 ай бұрын
People are being scammed in canada
@timshammm
6 ай бұрын
Thank you for being transparent Jon and making vids to educate us, we appreciate you very much.
@MentionBiscuit
6 ай бұрын
With so many agents and REALTORS in Canada commissions should be ROCK BOTTOM. That they aren’t is proof positive that a price fixing cabal exists!
@ivanandreevich8568
6 ай бұрын
You can buy without a buyer agent and negotiate the price down by the buyer commission fees.
@suslamunte
6 ай бұрын
Nope, if the buyer doesn't have an agent, the listing agent gets all the commission. I know!
@nitsakalkinis4135
6 ай бұрын
@@suslamunteonly an idiot would pay full commission in that situation!! They negotiate a commission!!
@bayindir06
6 ай бұрын
Thank you for your honest points!
@stevea3043
6 ай бұрын
I supported this real estate agents deserve nothing more then 1% and a possible tip at current home prices Think of it like a service industry if I like what you did for me I add a 1% tip bringing my agent up to 2% The buyer can decide what they want to tip their agent Simple as that
@archimedes2261
6 ай бұрын
I lived in North America for decades and i never knew there's such a thing as a buyer's agent, i only knew of a sellers agent usually representing self or a brokerage 😆
@MARK-j9s8s
6 ай бұрын
I have a question related to asking price. It seems many peaple are list homes at a low price to generate a bidding war. I feel this csould be ended
@Carolinapetroska
6 ай бұрын
Yeah it should be illegal. Smart buyers don't fall for that trap ! They just want to screw the new comers....
@iknowbetter5075
6 ай бұрын
Why more and more rules? It's supposed to be a free market. See the house, choose how much you're willing to pay and this is your max bit. Why people always like to be protected from everything? If you're old enough to buy a house, you're old enough to make your own choice.
@johnfranz282
6 ай бұрын
Dual Agency is permitted in Alberta Canada, but not permitted in BC since 2018. Each province is different. Thanks for the discussion.
@SuccessForever1234
6 ай бұрын
Calgary realtor I’m dealing with wants 7% & 3%, which is BS. still doesn’t have a buyer for our home
@vincentlam1390
6 ай бұрын
I watch this channel for the usually frank commentary and cogent analysis around broad economics and real estate pricing. The discussion around changes in real estate representation models & realtor compensation - is notably lacking in any commentary around the potential effect on real estate pricing. Most commentary suggests that selling prices will be lower. Any thoughts?
@jonflynn
6 ай бұрын
Yep I forecast lower prices either starting by the end of this year or 2025
@Matt-YT
6 ай бұрын
160k RE agents in Canada. That's 0.8% of all working people in the country!
@petemacneil8343
6 ай бұрын
Here in Windsor,Ontario the agent selling my house received 6% while the buying agent received 2.5% which I find too high and to top it off I have to pay the GST on his commission.(2023) Total BS for the education required of these agents. If our government is involved you can be sure both seller and buyer will be screwed.
@KM-sr9cc
6 ай бұрын
There will be NO rate cut until the Russia - Ukraine conflict comes to a peaceful settlement and apparently, things are moving in the opposite direction on Europe's geopolitical map. We are far off that point, the government and the Bank of Canada are monitoring the situation in Europe, and will not give in to the pressure from economists, bankers, and the real estate industry. Even if there were one or two rate cuts, it won't take long for massive inflation to make a comeback and push the BoC to hike the rates again to a higher level than the current 5% and that would be the turning point. Uncertainty, instability, and consumer nonconfidence will impact the economy and start to melt down and fall apart. Warning, any premature rate cut at this point would lead to MASSIVE inflation and massive rate hikes. 1970's inflation which dragged on to the 1980 is the best example. Canada may need Paul Volker to come in and clean up the mess once again.
@Rflows100
6 ай бұрын
'Rate cuts' 'rate hikes' the song of the decieved who still believes that making interest of loans is perfectly justifiable. Always remember Yeshua reigns and He paid the most ultimate debt
@kortyEdna825
6 ай бұрын
Asking a real estate agent whether you should buy a home right now is like to asking an alcoholic whether they think you should have a drink lol. Homes in my neighborhood that cost around $450k in sales in 2019 are now going for $800 to $950k. Every seller in my neighborhood is currently making a $350k profit. Simply unreal. In all honesty, deflation is what we require. The only other option is for many people to go bankrupt, which would also be bad for the economy. That is the only way to return to normal.
@Pamela.jess.245
6 ай бұрын
Home prices will come down eventually, but for now; its best to offset some of your real estate investments and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes. If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.
@Justinmeyer1000
6 ай бұрын
this is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
@Justinmeyer1000
6 ай бұрын
Appreciate this recommendation, hopefully I can get some insight to where the market is headed and strategies to beat the downtrend with when I hear back from AILEEN.
@2cooljo-oo8qd
6 ай бұрын
I wouldn't bother using a buying agent. The only real reason we need an agent at all is for the paperwork and even then, people have bought AND sold houses without agents at all.
@davefortier
6 ай бұрын
I found I was able to buy by myself without a buying agent just fine. There may be some good realtors out there, but I haven’t found any.
@JamesTan295
6 ай бұрын
You will start to have buyer agents hiding good listings (with low - no commission) from their buyer clients.
@Notawhitchhunt
5 ай бұрын
Doesn't the selling agent also split their commission with the broker that they work for?
@jmjm1992
4 ай бұрын
Government of Canada charges to much tax when you buy house or condo as much 30% same as gas to much tax .
@oliviasirrelevantchannel2644
6 ай бұрын
If I were buying, I wouldn't mind paying my buyer's agent myself rather than relying on the seller's agent to split their commission, even if it adds to the cost of the purchase. I believe a good realtor adds value and they should be paid fairly. Also, I don't think it makes sense that it should be based on the price of the home because then, wouldn't the buyer's agent just try to get a higher price rather than a lower price? I'm not experienced in real estate at all... this is just what seems to make sense to me???
@harleycooper9717
6 ай бұрын
At 2.5% for a buyer’s agent if the buyers agent was thinking I’m going to encourage/push my buyer to pay more so I can get more commission that’s super sleazy. 2.5% on an extra $10,000 is $250.00. An extra $100,000 at 2.5% is $2,500. I absolutely agree if that’s the motive of a buyer’s agent to waste $100k of a buyer’s money to make an extra $2,500 than there absolutely is a problem. That is looking at it from pushing a buyer to pay more to get more. Pushing to pay more to make the total commission is still super sleazy. Helping people on what is most often the biggest purchase(s) of a persons life and being well compensated for it is something I believe is very valuable. Here’s an example I love. I was working with buyers when the market in Ontario was on a down turn. It was quick but it happened. The buyer’s were used to hearing everything is a bidding war and they should pay asking or over asking. The house was listed at $630k knowing the local market and what was going on I suggested that paying full price was well over market value. They didn’t want to lose it but trusted me and offered over $30k under list and we got the house. In this case if they had paid me a flat fee of $5k it would have saved them about $30k. There’s good and bad in every industry and the good can help save/make you money and the bad can do the opposite. I would be happy with a system that paid me for all the time I put into helping people even if it’s helping people to come to the realization that they aren’t ready or willing to buy a house. I have been a realtor for 13 years. I love helping people buy and sell and if the pay structure changes I’m all for it. Researching properties, neighborhoods, builders, building reliable trustworthy networks of people, trades etc. I think a lot more goes into helping people buy and sell than most people think. Doing all that and having people decide they don’t want to move after all is a major out of pocket expense that Realtors have to take as part of the job. Could be good for everyone. We’ll have to see how things go.
@tedebayer1
6 ай бұрын
Two of three my last purchases were handshake with seller deals with basics sent to our respective lawyers. For sale by owner, and correct me if I'm wrong can now be listed on MLS for a fee? What mls fee/% is I dont know. I don't begrudge agents and the work they put into a sale/purchase but at todays prices you know its too much when I see many driving some very high end cars/suvs around town.
@Adamcfyfe
6 ай бұрын
Great breakdown brother, keep up the solid videos.
@housebuilder1924
6 ай бұрын
As a real estate investor, I know first hand that you do not need a selling agent nor a buyers agent to buy or sell property. We just closed another deal where the buyer seems to think they need an agent therefore costing us 25K for nothing. A total waste of money. We could have settled with the buyer easily and the lawyers do all the rest. This is all you need to do a deal. A good real estate lawyer. Don't let the agents TV ads brainwash you into thinking you need an agent. For convenience, we have a flat rate broker to sell our properties. This is much more fair. A regular real estate commission, the agent who does all the work gets very little of the commission. It's the fat cats on top of the brokerage that gets most of it. So we are glad to see this legal process take place and we will be watching this closely.
@carlsapartments8931
6 ай бұрын
what are your thoughts if any on future deflation now?
@cameronoswald4796
6 ай бұрын
How can a private citizen in Canada (Manitoba) find home sale prices in there area? Reason I ask is I see this as the biggest barrier to buyers representing themselves
@ImtihanAhmed
6 ай бұрын
wow, the wage drop is drastic...
@desireezhu8240
6 ай бұрын
If that will lower the cost… yes
@jonflynn
6 ай бұрын
most likely
@victorhjwang220
6 ай бұрын
Both seller and buyer's agents don't represent anyone, but their own interests. They bogh make money from the same deal. So both work together to convince clients to make the deal. But why we need two sales persons for one product? 😂
@chriswiens9706
6 ай бұрын
Why do we need realtors in todays world!?!? Its the same thing as the banks and financial advisors. Educated people could easily negotiate a price based on what has sold around the area/etc. Price per square foot, hire a lawyer to write up an offer, and hire an accredited inspector to make sure the home checks out. Same thing with investing these days, everyone is on all the apps and figuring it out for THEMSELVES instead of letting someone take percents of their money for doing nothing.
@Julie-rg3mb
6 ай бұрын
Even more than RE agents, we need to do away with brokerages, which take 30%+ of the fees. We are paying them for what value added? Basically, to market to us and lobby against us.
@contagionisafraud
6 ай бұрын
Great video, thank you!
@jonflynn
6 ай бұрын
My pleasure!
@dingdong8242
6 ай бұрын
I don’t like cocky , show off real estate agents ,agents that are undercover investors and sabotage your property for their own self interest but other than that ,you do need realtors in this game just as much as you need lawyers or other professionals if they stay within their job boundaries.
@cameronvitro8971
6 ай бұрын
It is the right approach
@faisal-ca
6 ай бұрын
Want a dumb down version. What will be the impact? More transparency?
@InvestInFrench
6 ай бұрын
We should be able to work with or without an agent like in Europe! People that prefer with, perfect but they pay for him/her and people that prefer without, amazing too! And something that should change in Canada to be the same as US and Europe, are the mortgages! What the hell do we have to renew it every 5 years! It should be same rate for the entire length of the mortgage, 25-30-35 years and that's it !!! Waste of money and time here....
@aman4u18
6 ай бұрын
I am not against Real Estate Agents but they charge a lot more than what they actually do. For example, a lawyer who do everything at the backend get a lot lesser what these agents make and even though Lawyer has studied a lot more than these agents. I mean things would make sense on the basis of hardwork which someone has put in for year to become what they are.
@georgedavidson1221
6 ай бұрын
Agents need commissions to survive The seller needs to pay
@deedunk8383
6 ай бұрын
Great video!
@surreystars
6 ай бұрын
Seller will be buyer after selling
@mingfu9950
6 ай бұрын
I’m a listing agent, I’m not opening the doors to strangers who were not vetted by another licensed professional. Wonder how that’s going to work for buyers/tenants
@yvonnem.langlois5197
6 ай бұрын
It seems to have worked for many decades, what's different now?
@mingfu9950
6 ай бұрын
@@yvonnem.langlois5197 worked? Who vetted them before? The listing agents?
@marcw4931
6 ай бұрын
I'd like to challenge any of the people whining and complaining about what agents earn to find out what knowledge they have and the actual value agents bring. So people want to get rid of buyers agents, great! Now, when you go to a car dealership and get taken to the cleaners (way overpaying or buying a total piece of crap) you end up a loser. Now, magnify that purchase into home prices and how sellers would happily sell you a house with Massive hidden defects and let's not forget the possible legal issues arising! So yeah, let's see how that plays out. Forgive me for saying, but the average person buying a house has little to no idea about the hidden dangers, value or legal issues around a home purchase. Unintended consequences are going to be biblical in proportion. Good luck with your mob mentality and Zero foresight!
@browngroupinc
6 ай бұрын
only need a lawyer agents are useless
@nb1638
6 ай бұрын
Buyer need just lawyer for closing and bank for mortagage and insurance
@liamwalter2921
6 ай бұрын
*Thanks for keeping us informed! I feel sympathy for our country, low-income people are now suffering to survive yet inflation and recession keep increasing daily, many families can't even enhance the good cost of living anymore. I feel like the more I learn about our country’s low-income people, my anger grows. imagine lnvestlng $2,5OO and receiving $9,8OO proflts in 5 days.😇Thank you Ms Elinda McKee, the lady you recommended here sometime ago.🇺🇸🇺🇸*
@shawncrawford8515
6 ай бұрын
Ms Elinda has really set the standard for others to follow, we love her here in the UK as she has been really helpful and changed lots of lives.
@pushparaj-sh6js
6 ай бұрын
No doubt! The very first time we tried, we invested $2000 and after a week, we received $8,500, that really helped us a lot to payoff our bills.
@barbradevino6870
6 ай бұрын
I'm glad to see the testimonies of Ms Elinda. Seriously I was hoping my family and I were the only one on her service platform.
@RogerStones-k5g
6 ай бұрын
Please, how do I connect with Elinda McKee? I would appreciate it if you show me how to go about it.
@yeemayle
6 ай бұрын
I just withdrew my prof|ts a week ago, it was so shocking when I withdrew 22,OOO knowing | started with 7OOO, I wish I could re-|nvest with Ms Elinda McKee forever.
@nitsakalkinis4135
6 ай бұрын
Everything is for sale!! Go knock on the persons door even if it's listed, wait for the listing to end and buy private!!! Legal? Illegal?? Who cares!!! Okay the Realtors game!!
@jamesmac8866
6 ай бұрын
Looks like your head and shoulders chart is not working out
@jonflynn
6 ай бұрын
Just has an extra shoulder now which represents how deformed and twisted the market is
@heyyou2104
6 ай бұрын
It's big news , we know it's pretty crooked out there
@John-u4l9y
6 ай бұрын
2 words,,,economic slavery
@Hoser584
6 ай бұрын
It's sure shut up all the grifters on KZitem
@sirpaddlesworthiii5933
6 ай бұрын
this narrative must get exhausting
@MaxPiersig
6 ай бұрын
I appreciate your videos about the market, but your term "inflation tax" (and your subsequent definition) sounds wildly off base. As I understand it, the primary driver of inflation is corporate greed / market manipulation. Open to hearing why you think the primary driver is government spending.
@joei4ever
6 ай бұрын
agree. Loblaws states they need to raise prices because of losses and infaltion, and then year after post record breaking profit year. Like, who are you lying. greed above everything
@Rflows100
6 ай бұрын
Greed is the driver to bureaucratic spending. It's the same
@Rflows100
6 ай бұрын
One is simply cause, and bureaucracy is simply effect. If it weren't for bureaucracy the damage would be great, it would be mayhem, an outward pirate society. Bureaucracy needs to spend to balance out the effects so as not incur outright implosion
@Rflows100
6 ай бұрын
Therefore if people overcome greed, they overcome the requirement for a bureaucracy as well
@Natelmun
6 ай бұрын
2.8% inflation tax you absolute goof 😂😂
@Keithlawson001
6 ай бұрын
Given the significant number of individuals who bought homes at inflated prices despite low loan rates, I foresee an impending housing crisis due to their indebtedness. Should housing prices further decline and individuals become unable to sustain their properties due to financial constraints, foreclosures may become inevitable, leaving them with no equity to recover. This scenario is particularly concerning amidst the looming threat of widespread job losses and escalating living costs.
@danialwiren2403
6 ай бұрын
I advise you to invest in stocks to balance out your real estate, Even the worst recessions offer wonderful buying opportunities in the markets if you're cautious. Volatility can also result in excellent short-term buy and sell opportunities. This is not financial advice, but buy now because cash is definitely not king right now!
@mateofernando5066
6 ай бұрын
If the PCs are elected in the next election and Pierre P. decides to put a halt or moratorimum on ALL immigration due to the housing affordability crisis. Expect that real estate prices could easily drop 30-50% in GTA and Vancouver. When there is a reduction in prices, its called price discovery, this is the market restoring itself to normal prices that are tethered to the median income of the people that actually live in the area where the house are sold. I don't forsee canadian incomes for the average worker to ever go up at the same level as the housing prices. Immigration done with low skilled workers with what the Liberals have been doing since 2018 has actually reduced the per capita GDP meaning people's standard of living have been declining. 🤔🤔🤔
@patricia_nura3378
6 ай бұрын
@@danialwiren2403 You're correct! With the help of an investment coach, I was able to diversify my 450K portfolio across markets and produce slightly more than $830K in net profit from high dividend yield equities, ETFs, and bonds.
@patricia_nura3378
6 ай бұрын
It was run by ‘’Mayra Femia Hetrick’’ , who i learned about and got in touch with thanks to a CNBC interview. Since then, it has served as the point of entry and departure for the games we have emphasized. A search on the internet can be done if tracking is necessary.
@AllisonWallace-dv5dr
6 ай бұрын
Realtors are unnecessary thieves. There needs to be laws forcing all bids to be public knowledge
@chris65004
6 ай бұрын
Would love to hear to your take on Canada buying $30B of their own Canadian Mortgage Bonds to prop up mortgage interest! Sounds like a super duper plan...
@Joey-c7x
6 ай бұрын
The greatest bailout in history. What folks might not understand immediately is that the gov will ultimately own your debt and basically own you. This is reminiscent of Communism in Eastern Europe. The government came and took whatever it deemed equivalent to your debt. I get a bad feeling this is all heading towards Agenda 2030 - You will own nothing and be happy. Anyone with a debt will be targeted, whether it be a leased car, mortgage, TV on payback... best advice is to clear your debts ASAP.
@brarautorepairs
6 ай бұрын
That's the entire point of the market is to enhance liquidity
@mr2_mike
6 ай бұрын
I'd like to hear Jon's take on this too. Sounds like doubling down that ends poorly for Canadians.
@rachelk8368
6 ай бұрын
RE agents should make hourly wages based on their education and expereince. If you have a degree in business or economics you are worth more vs a non degree licenced agent. The average Canadian makes $26/ hour. RE agents should make the same
@GregoryProkopski1
6 ай бұрын
The last chart was the best. House prices vs income, inflation adjusted. We all feel it but thank you for illustrating it so clearly.
@bonniebairn844
6 ай бұрын
The requirement that I can only buy a house using someone who drives a Hummer with their name painted on it is simply ridiculous.
@vikaskhatter5629
6 ай бұрын
In this age of technology, AI, Marketplace, matching models ...who needs realtors? Lets get away with the realtors. They are anyway not serving any meaningful purpose.
@mikedennington8856
6 ай бұрын
Why should the seller pay a buyer agent, it's stupid.
@chriswiens9706
6 ай бұрын
Why should there even be any agents at all anymore! I don't need financial advisors or my bank to manage my money, which is arguably more important than a home purchase. Educated people could easily look at comps in the same area and negotiate a price, then hire the accredited people to assist with drawing up an offer/etc. All agents should be phased out.
@canuck060272
6 ай бұрын
We made this country what it is today! Greedy! I really Think Real Estate is a dirty! Buy Buy Buy Sell Sell Sell! Take your part! bankrupt! Buy Buy Buy Sell Sell Sell! Lawyers and house inspections make peanuts on the dollars compare to you guys! They do the most important thing for client! How do you justify such a big commissions? Oh, got a guy to do drone video? lol We made it so we need agents. Selling and buying, I love my agent, used her for two house . Amount of work and time she put in! The money she made! How much did your wages go down?
@Carolinapetroska
6 ай бұрын
Not true the USA are so different and everything is so much cheaper over there.
@NavyMoo5e
6 ай бұрын
In that graph, average home prices in January 2024 was just over $400k. That seems incorrect.
@stephanienguyen6992
6 ай бұрын
FRAUD = bids
@rjkrjk8344
6 ай бұрын
If CREA says we're watching closely that means we'll follow suit. 😅 Kind of seems deliberate to discourage agents 😢
@keithrodgers1030
6 ай бұрын
Nothing new every commodity in Canada has some degree of price fixing. Property, Food, Clothing, Shoes, Vehicles, just walk around any Mall its the same stores selling the same goods at the same prices.
@jmjm1992
4 ай бұрын
Major price correction is coming to Ontario and Vancouver ......
@jonflynn
4 ай бұрын
Yep
@samuelgit
6 ай бұрын
Excellent news for us. We must use European model. Not need for buyer agent. Sometimes the buyer agent play with the client.
@wideback4553
6 ай бұрын
So buyers now will have to pony up extra closing costs that won't be added to the mortgage 100%. An extra 7500$ for a 300k house roughly needed cash in liquid lol. My broker said the bank won't add that to mortgage. What do you think jon?
@mayonaisefrank8881
6 ай бұрын
Watching all ads to support u. Carry on dude.
@jonflynn
6 ай бұрын
Awesome, appreciate the support
@martinbowman1993
6 ай бұрын
I have bought a few places without an agent. I don't think it is really particularly useful. The banks, lawyers, and real estate agents look at the buyer like wolves look at sheep. I had to do my own homework and make sure I was getting value for my money because no one else in the equation was doing it for me.
@jonflynn
6 ай бұрын
I guess it all depends on your knowledge and comfort level. Many are clueless and need help and advice but at the same time it won't be much good if the same goes for the agent they choose. It's like the blind leading the blind.
@martinbowman1993
6 ай бұрын
@@jonflynn somewhat. I bid on a property in rural Alberta that had been listed for over a year and magically the same day someone else put a bid in and I didn't budge on my offer and magical their offer was withdrawn the next day. Real estate agents have never risen above the level of used car salesmen for a reason.
@FatherFH
6 ай бұрын
Buyer agents do a lot more work than the seller agents. Buyers are the ones paying thr money so technically the buyers are paying for everything
@eddobond76
6 ай бұрын
You have good point , yes buyer brings money to the table, but it has nothing to do with their agent, In fact lots of times the buyer's agent will try to drive the price up.
@vitaliebruma5886
6 ай бұрын
So Jon you said before prices are going to drop. When? With 5% mortgage rate in BC people are buying over asking. I can imagine what will happen when rates will drop to 3%
@jonflynn
6 ай бұрын
They will be dropping rates to 3% because the market is crashing. Without the crash no rate cuts.
@TyrantPapa
6 ай бұрын
If Canada starts heavily cutting rates it means the economy is in very bad shape. Rates don’t get cut for no reason.
@lynb1022
6 ай бұрын
Good! Algorithmic price-fixing of rents next! All the parasites needlessly inflating rents and driving tenants into poverty are in for a rude awakening.
@DareGugy
6 ай бұрын
1% is a fair value to pay commission As home prices rise compasation should drop It not right that a person makes $20,000 on a 500,000 house That just not right
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