subject: 2011 Challenges Vancouver Real Estate Realtors [print this page] 2011 Challenges Vancouver Real Estate Realtors
The Vancouver Real Estate market is heading for a breeching stop. Is it really going to stop over the prices in the market? No, the prices are only a reflection of the economy improvement but they will stabilize with time and with persistent buyers. Why buy now in Vancouver, Montreal or Ottawa? There are sweet deals for careful investors and some will never happen again. There are challenges that the realtors will face tough obstacles to convince customers to buy or sell their homes in this market.
The real estate properties are under strain from new government regulations and the customers feel cynical now. One of the major obstacles faced by realtors in Vancouver is the perception that the customers have of them, Vancouver real estate is considered one of the least affordable places to live in now. The luxury properties have faced a cold shadow in the mirror; the lack of buying power has forced some home sellers to drop their prices. The negative image of the realtors is unrealistic; their control over the pressures of the government is very limited.
The Canadian Realty Board Associations is going to have to band together to form a positive posture in the hostile environment. One weapon at their disposal is the internet, which they can turn the tide. Their websites can inform customers of the trends and listings, which some do already. A positive and friendly image would attract a consumer base and the real estate tactics they have learned in school. The value approach should be stressed to overcome this obstacle. After dealing with the consumer crunch that is happening on a national scale, realtors can entrench themselves with this golden opportunity to sell lower priced homes and properties to careful investors.
The confidence of the consumer must be reassured against rising interest rates and stabilization of all residential prices. The consumers will buy, if these conditions are met by the realtors. The creative front is shorthanded by the temporary setback by the new laws but these mortgage laws are only a brick in a wall. Canada's housing market will face its up and downs and the realtors have adjusted to the trends and down turns. They will face the new challenges of 2011 with determination. After the public has calmed down from the measures and the economic has swung into a higher gear, these laws will be lost in the newspapers.
The real challenge lies in selling luxury properties in Vancouver and other Lower Mainland areas. The investors are going to be overly cautious and will demand information on their returns; this will be a tricky aspect. These properties are in limbo at the moment, considering the cash crunch imposed by the Canadian government. These properties are best sold at a lower end range than what the asking price is currently at.
