Blog › August 2018

What is the Average Number of Homes Realtors Sell?


I want to discuss how many properties the average realtor will sell in a year, but before I can give you the answer to that question, you need to know the context.

There are currently over 14,000 realtors in the Greater Vancouver Reginal District, compared to the year 2000, when there were only about 5,200 realtors. The reason there are so many more realtors now is because we’ve had a huge upswing since 2000. Actually, I joined in 2000 as well;  I was one of those.

I remember writing my Real-Estate licence and people thought; what were you doing? Why would you ever want to get into Real-Estate in Vancouver? Luckily, I did and my friends all bought houses.  I started my career that way.

Now, we're seeing about 2,200 realtors leaving the industry because things are settling out a little bit. We're noticing that the 80/20 percent rule applies here as well, as in many industries in the world. 20% of the realtors do about 80% of the business.

So, there are 20% of us out there being realtors full time. For example, I completed about 38 transactions last yea, and I hope to do more this year. I take the job very seriously. If I can get any extra savings for my buyers or any extra dollars in that sale price for my sellers, that’s the goal.

When you look at average number of homes that realtors are selling now, the average is just 5 houses or condos each year.

To help put this into perspective, if I went for a big operation, and I was going to see a surgeon, I would not want the surgeon who had only done 5 operations that year. It’s a big part of what you need to look at when hiring a realtor.

If you'd like to interview me or ask any questions on my marketing program and how I am able to achieve great results for clients, please give me a call at 604-619-0199, and watch my video below for more!



New Listing PH7 - 1040 Pacific Street, Vancouver, BC


R2300561 - PH7 - 1040 Pacific Street, Vancouver, BC, CANADAView my new listing for sale at PH7 - 1040 Pacific Street, Vancouver and currently listed at $488,000.

INVESTOR ALERT - great for owner occupier or renovator. QUIET side of the building. Best priced condo in the West End in original condition! Steps to Sunset Beach, the Seawall, Aquatic Center, Burrard Bridge, and Granville Island Ferry, Yaletown & Downtown. 526 Sqft 1 Bed home. Open layout Living/Dining space. Amenities in the building include hot-tub/sauna, Racket ball court & Meeting Room. 2 cats allowed.

The History of Open Houses


The evolution of open houses is something interesting to watch.

Before 1965, realtors would have exclusive listings. We were delegated with the responsibility to sell that listing. There was no co-operative system in place for realtors to work together. This meant that listing realtors were responsible for finding buyers. In today's market, we have buyer-agents that help listing realtors sell properties and one of the reasons we have open houses is to make it easy for those buyer's agents to get their buyers through the door.

We’ll have an hour or two hours on the weekend or a sneak peak during the week. It’s also a good way to interact with potential buyers. Perhaps they’re unrepresented and looking for a realtor. Some buyers will go through open houses and that is how they interview realtors as well; to see if they connect with someone that can streamline the process for them.

In today's market, there are many changes being made. As realtors, out job is to protect the public. That’s our mandate and how we’re doing that is by disclosing absolutely everything. When a buyer comes into an open house, we run through quite a bit of information on the do’s and don’ts of exchanging information. Its getting a bit convoluted in todays market, but that’s our job to work that through with our buyers.

It’s going to be interesting to see open houses taper off as it's going to be more difficult for buyers in this setting.

To learn more, check out my video here:

If you would like more information on any of these topics; on open houses, as well as where we’re headed for the future with virtual realities, please give me a call at 604-619-0199
or shoot me an email. 



Recently Sold Listing 4109 Vine Street, Vancouver, BC


R2278625 - 4109 Vine Street, Vancouver, BC, CANADAI have just recently sold this listing at 4109 Vine Street, Vancouver.

Recently Sold Listing 206 - 1445 Marpole Avenue, Vancouver, BC


R2282720 - 206 - 1445 Marpole Avenue, Vancouver, BC, CANADAI have just recently sold this listing at 206 - 1445 Marpole Avenue, Vancouver.

New Listing 602 - 1219 Harwood Street, Vancouver, BC


R2296670 - 602 - 1219 Harwood Street, Vancouver, BC, CANADAView my new listing for sale at 602 - 1219 Harwood Street, Vancouver and currently listed at $339,900.

Great investment unit! RENTALS ALLOWED. 2 short blocks to Sunset Beach, English Bay, Davie Village. 1 bed, 1 bath. "The Chelsea" has been updated with permits - newer plumbing, parking, refitted elevator and a newer roof. Shared rooftop deck boasts gorgeous 360 degree views. Maintenance includes property taxes and hot water. Rentals allowed. Sorry, no pets. Parking + storage for rent through building manager upon availability.

Vancouver Real Estate Statistics July 2018


Each month Jamie gives us a video breakdown of what's happening in the Vancouver Real Estate Market, including Downtown, Vancouver Westside, Eastside, Richmond and Ladner.

This month we're seeing a more balanced market for Vancouver detached housing. The condos and townhouses are also nearing a more balanced market, as we've seen a bit of decline in activity. Who knows if that’s typical summer lulls and we’ll have a big strong fall market again come September, or if that’s a sign of things to come for the next twelve months with all the government intervention and changing of rules. Watch the video below to learn more.

Vancouver Real Estate Statistics

Vancouver Downtown

  • Market Type Indicator DOWNTOWN ATTACHED: Sellers Market at 21% Sales Ratio average (2.1 in 10 Homes selling rate)
  • Homes are selling on average 100% of list price
  • Most Active Price Band** $600,000 to $700,000 with average 58% Sales Ratio (Sellers market)
  • Buyers Best Bet** Homes between $1.75 mil to $2 mil, Coal Harbour, Yaletown and 3 bedroom properties
  • Sellers Best Bet** Selling Homes in Westend and up to 1 bedroom properties

**With minimum  inventory of 10 in Most instances

Vancouver Westside

  • Market Type Indicator VANCOUVER WESTSIDE DETACHED: Buyers Market at 7% Sales Ratio average (7 in 100 Homes selling rate)
  • Homes are selling on average 5% below list price
  • Most Active Price Band** $2 mil to $2.5 mil with average 24% Sales Ratio (Sellers market)
  • Buyers Best Bet** Homes $5 mil plus, M arpole, South Granville and minimum 7 bedroom properties
  • Sellers Best Bet** Selling Homes in Southlands, University and up to 4 bedroom properties

**With minimum  inventory of 10 in Most instances

  • Market Type Indicator VANCOUVER WESTSIDE ATTACHED: Sellers Market at 28% Sales Ratio average (2.8 in 10 Homes selling rate)
  • Homes are selling on average 2% below list price
  • Most Active Price Band** $700,000 to $800,000 with average 61% Sales Ratio (Sellers market)
  • Buyers Best Bet** Homes between $2.25 mil to $2.5, Dunbar, Quilchena and minimum 4 bedroom properties
  • Sellers Best Bet** Selling Homes in South Cambie and up to 1 bedroom properties

**With minimum  inventory of 10 in Most instances

Vancouver Eastside

  • Market Type Indicator VANCOUVER EASTSIDE DETACHED: Buyers Market at 9% Sales Ratio average (9 in 100 Homes selling rate)
  • Homes are selling on average 4% below list price
  • Most Active Price Band** $1 mil to $1.25 mil with average 28% Sales Ratio (Sellers market)
  • Buyers Best Bet** Homes between $2.25 mil to $3 mil, Collingwood, Grandview, Victoria and minimum 7 bedroom properties
  • Sellers Best Bet** Selling Homes in Mount Pleasant, Renfrew Heights and up to 4 bedroom properties
  • **With minimum  inventory of 10 in Most instances
  • Market Type Indicator VANCOUVER EASTSIDE ATTACHED: Sellers Market at 33% Sales Ratio average (3.3 in 10 Homes selling rate)
  • Homes are selling on average 1% below list price
  • Most Active Price Band** $400,000 to $500,000 with average 53% Sales Ratio (Sellers market)
  • Buyers Best Bet** Homes between $1.25 mil to $1.5 mil, Killarney, Victoria and minimum 4 bedroom properties
  • Sellers Best Bet** Selling Homes in Grandview, M ount Pleasant, South Vancouver and up to 1 bedroom properties

**With minimum  inventory of 10 in Most instances

Richmond

  • Market Type Indicator RICHMOND DETACHED: Buyers Market at 10% Sales Ratio average (1 in 10 Homes selling rate)
  • Homes are selling on average 9% below list price
  • Most Active Price Band** $1 mil to $1.25 mil with average 61% Sales Ratio (Sellers market)
  • Buyers Best Bet** Homes between $2.75 mil to $3 mil, Garden City, Granville, Quilchena and up to 2 bedroom properties
  • Sellers Best Bet** Selling Homes in Boyd Park and 3 to 4 bedroom properties

**With minimum  inventory of 10 in Most instances

  • Market Type Indicator RICHMOND ATTACHED: Sellers Market at 24% Sales Ratio average (2.4 in 10 Homes selling rate)
  • Homes are selling on average 100% of list price
  • Most Active Price Band** $0 to $300,000 with average 75% Sales Ratio (Sellers market)
  • Buyers Best Bet** Homes between $900,000 to $1 mil, Steveston Village and minimum 4 bedroom properties
  • Sellers Best Bet** Selling Homes in Ironwood and up to 1 bedroom properties

**With minimum  inventory of 10 in Most instances

Ladner

  • Market Type Indicator LADNER DETACHED: Balanced Market at 17% Sales Ratio average (1.7 in 10 Homes selling rate)
  • Homes are selling on average 4% below list price
  • Most Active Price Band** $900,000 to $1 mil with average 27% Sales Ratio (Sellers market)
  • Buyers Best Bet** Homes between $1.25 mil to $1.5 mil, Neilsen Grove, Port Guichon and up to 2 bedroom properties
  • Sellers Best Bet** Selling Homes in Holly and 5 to 6 bedroom properties

**With minimum  inventory of 10 in Most instances

  • Market Type Indicator LADNER ATTACHED: Sellers Market at 30% Sales Ratio average (3 in 10 Homes selling rate)
  • Homes are selling on average 1% below list price
  • Most Active Price Band** $500,000 to $600,000 with average 25% Sales Ratio (Sellers market)
  • Buyers Best Bet** Insufficient data but Homes with 3 bedroom s
  • Sellers Best Bet** Selling Homes in Neilsen Grove and 2 bedroom properties

**With minimum  inventory of 10 in Most instances

 

Buying or Selling a home in the Greater Vancouver Area contact Jamie Stewart and her team at jamiestewart.ca