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Ian Watt Personal Real Estate Corporation - Sotheby's International Realty Canada

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Fantastic News for Real Estate but Bad News for Crappy Realtors

Vancouver Condo Real Estate Video Blog #693 - November 7, 2011


Fantastic News for Real Estate but Bad News for Crappy Realtors


Ian Watt video blogs about how the Competition Bureau is pushing to open up VOW which means you wont need to use a realtor to find past sales as all the information will be opened up to the consumer. More information about the childish fight between Realtors and the competition Commissioner here. If you want to voice your opinion or if you don't care for Ian's comments please email your feedback to ianwatt@ianwatt.ca and visit http://www.ianwatt.ca/RealEstateVideos for all the Ian Watt Real Estate Video Blogs. Please note that opinions, real estate practices, prices and data always changes over time, so please keep in mind the date when this video was published as the information could have become irrelevant over the past days, months and years. Copyright iWatt Media © All Rights Reserved 2011 http://www.iwatt.ca/ .


Ian Watt: Hi good afternoon it's Ian Watt in Downtown Vancouver. Exciting news coming through in real estate probably in about twelve months maybe about eighteen months what we're gonna see is everything changes as far as real estate is concern because the Competition Bureau is gonna open up all the history of all the sales to the general public. That's gonna be an awesome news for the consumer because you will be able to check what was the past sales of this and this and you can set your own price from when you go in purchase a property no longer you will rely on a realtor to find a place and find the right price anymore. It's gonna suck to be a real crappy realtor in the future because you gonna have to figure out what I'm I use for. Chances are the buyers realtor is definitely going to have their rules altered they're gonna be there to facilitate the transaction but they are not going to be there to help find anything and to find the right price anymore because all that is gonna be open to the public it's gonna be fantastic, it's gonna rock our industry it's probably gonna destroy a lot of people's businesses. But the more power the general public has the more honest our real estate business is going to be. No longer people will able to send you the past sales of the building and say this and this and this but eliminate the totally high one and the totally low one and just show you what they want you to see. Now what's gonna happen is your gonna be able to access everything to somebody site and were all gonna have access to it and all you have to do is go on to my website and you'll all have the past sales as soon as the Competition Bureau says yeah that's okay we can do that but right now for privacy reason we are not allowed to do that. But in the future it's all gonna be there it's gonna be fantastic so the people would really sold in businesses in real estate are gonna find out how they can work in a different way to facilitate the transaction but no longer will you need a buyers realtor to find a place or you don't even need it that now or tell you what the right price is. All you have to do is make sure it's facilitated properly so you are protected. But all the past sales are gonna give you a good indication of what you should be spending with your next purchase. My name is Ian Watt if you have any questions you can always email me at ianwatt@ianwatt.ca. Thank you very much and have a great!