This is a friendly, interactive exchange of information on all Real Estate related subjects. Follow on Twitter: @RETALKS


Moderator: admin

 
User avatar
SethM
Real Estate Talker
Topic Author
Posts: 982
Joined: Thu May 27, 2010 3:32 pm

Realtor Can Get Vendor 25% More Selling To Rich Asians

Mon Mar 26, 2012 11:52 pm

Don't know how I missed this story but it popped up on the Cam Good news feed tonight.

Not only can he give buyers access to hot asian money, but these buyers are so rich, paying 25% more for a property is nothing to them.

B.C. real estate company targets high-end sales with exclusive listing service

http://www.vancouversun.com/business/yo ... story.html

TheKey.com president Cam Good says he’ll make a lot more money for his clients, but others aren’t so sure

By BRIAN MORTON, Vancouver Sun March 7, 2012


A local real estate marketing company is developing its own exclusive listing service to sell high-priced B.C. homes to wealthy Asian buyers.

However, a claim by TheKey.com president Cam Good that his new service called PLS.ca (Private Listing Service) will result in sale prices more than 25 per cent higher than vendors would get on the multiple listing service (MLS) is being treated with skepticism by other realtors who rely heavily on the MLS to list properties.

“Cam is a very innovative guy and he tries a lot of different things,” said Dan Scarrow, vice-president of corporate strategy for the Macdonald Realty Group and a realtor who also sells high-end homes. “But I haven’t heard of this. I’m very skeptical of that [a 25-per-cent sales premium]. It seems that the purpose of MLS is to get maximum exposure so you can get the best price and terms.”

PLS.ca, launched in January, is being marketed by Good as a private, exclusive version of MLS, and that sellers will like it because it offers homes for sale with no sign on the lawn, no nosy neighbours, no realtors, no open houses and no strangers going through the house.

As well, Good said, wealthy Asian buyers – primarily mainland Chinese – like the exclusive or “special” nature of private listings because they’re only offered to individual buyers and not the general market through MLS.

Good, who escorted a Shanghai family by helicopter Tuesday to two pricey homes in Victoria, said he has 20 multimillion-dollar listings so far, but as yet no sales.

“This is not the fastest way to sell,” added Good, who said he has an office in Hong Kong and branch office in Beijing. “But we’re not worried. If you make one sale, it’s very good business. I believe we’ll sell one this month for between $10 and $15 million.”

Good said he charges a 3.5-per-cent commission and that homes listed on PLS.ca will sell for at least 25 per cent more than homes listed on MLS, noting that his clients believe Canadian prices are still low and they’re willing to pay a premium for the right property and service.

“The reason we could get higher prices is the way we present homes to people. It’s good marketing and salesmanship. [Buyers] see more value in a home that’s presented in a certain light. When it’s more special, they’ll pay more for it.

“We have 20 trips lined up [with Chinese groups] over the next three months.”

Good gathers listings and clients many ways, including real estate shows in China, referrals and word of mouth.

He also partners with some local realtors who gain access to overseas buyers when they take the property off of MLS.

Good said listings are presented to buyers privately, with write-up, photos and video similar to MLS.

Tsur Somerville, director, centre for urban economics and real estate, Sauder School of Business at the University of B.C., said that while the privacy aspect for sellers has merit, they could be limiting their market.

“And why would a wealthy Chinese buyer want to access this exclusive listing without seeing what else is out there as well?”

Scarrow said while there’s value in offering privacy for sellers, “if your goal is the best price … MLS is an excellent tool for that.”

Scarrow also noted there are already realtors who sell exclusive listings not on MLS, though not aimed specifically at Asian buyers.

bmorton@vancouversun.com

© Copyright (c) The Vancouver Sun
Attachments
Cam Good.jpg
Cam Good.jpg (170.79 KiB) Viewed 2090 times
 
User avatar
registered
Real Estate Talker
Posts: 4617
Joined: Sat Jun 02, 2007 10:49 pm

Re: Realtor Can Get Vendor 25% More Selling To Rich Asians

Tue Mar 27, 2012 4:41 am

Good said he charges a 3.5-per-cent commission and that homes listed on PLS.ca will sell for at least 25 per cent more than homes listed on MLS, noting that his clients believe Canadian prices are still low and they’re willing to pay a premium for the right property and service.

Lol:

"You can buy this house for $1,000,000 Canadian or the special $1,250,000 Screw the Mainlander rate."
"No, I pay more. You charge too little."

Happens to me all the time with Asians and the rich . Isn't that how they got rich, demanding they pay more than ask? What they lose on every deal they make up with quantity.
That this is 'news' is depressing, if not borderline racist. BC is being driven stupid by avarice.
the dogs bark but the caravan moves on
 
User avatar
jesse1
Real Estate Talker
Posts: 5095
Joined: Mon Feb 18, 2008 12:51 pm

Re: Realtor Can Get Vendor 25% More Selling To Rich Asians

Tue Mar 27, 2012 9:07 am

I like the red "closing phone".
There is no shame in overpaying
 
fishguy15
Real Estate Talker
Posts: 1119
Joined: Fri May 16, 2008 5:17 am

Re: Realtor Can Get Vendor 25% More Selling To Rich Asians

Tue Mar 27, 2012 9:09 am

jesse1 wrote:
I like the red "closing phone".


It's plugged into his iPhone.
 
MultipleOffer
Real Estate Talker
Posts: 734
Joined: Thu Feb 17, 2005 2:05 pm

Re: Realtor Can Get Vendor 25% More Selling To Rich Asians

Tue Mar 27, 2012 8:42 pm

way to piss off the real estate community and the asian buyers at the same time.
 
User avatar
SethM
Real Estate Talker
Topic Author
Posts: 982
Joined: Thu May 27, 2010 3:32 pm

Re: Realtor Can Get Vendor 25% More Selling To Rich Asians

Tue Mar 27, 2012 9:11 pm

jesse1 wrote:
I like the red "closing phone".


Haha! That's the hot line!
 
tdma800
Real Estate Talker
Posts: 2977
Joined: Wed Jan 23, 2008 9:12 am

Re: Realtor Can Get Vendor 25% More Selling To Rich Asians

Wed Mar 28, 2012 8:18 am

MultipleOffer wrote:
way to piss off the real estate community and the asian buyers at the same time.


I think thats the whole idea, ie: he doesn't care about MLS buyers.
 
reallyreal2
Real Estate Talker
Posts: 657
Joined: Fri Jun 03, 2016 11:30 am

Re: Realtor Can Get Vendor 25% More Selling To Rich Asians

Wed Jun 29, 2016 10:49 am

I am thinking of listing my house... can you anyone let me know if this service still exists?

Thanks in advance :D

LOL
 
reallyreal2
Real Estate Talker
Posts: 657
Joined: Fri Jun 03, 2016 11:30 am

Re: Realtor Can Get Vendor 25% More Selling To Rich Asians

Sun Aug 14, 2016 12:41 pm

I wonder how this service is working? Is it 25% premium or is it cut back to 10% because of the new tax lol

Seriously- this was a great idea. Made perfect sense
 
tdma800
Real Estate Talker
Posts: 2977
Joined: Wed Jan 23, 2008 9:12 am

Re: Realtor Can Get Vendor 25% More Selling To Rich Asians

Sun Aug 14, 2016 1:10 pm

 
reallyreal2
Real Estate Talker
Posts: 657
Joined: Fri Jun 03, 2016 11:30 am

Re: Realtor Can Get Vendor 25% More Selling To Rich Asians

Tue Nov 01, 2016 2:32 pm

I am thinking of listing my house for sale - does anybody know if this hair-brained idea still exists?

These realtors are nothing more than scam artists with their dumb ideas.  I bet it is more difficult to get a used car license than a realtor's license.... any Tom Dick or Harry can do it... you don't even have know how to speak english.

:lol:

Who is online

Users browsing this forum: No registered users and 1 guest