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HAM
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MAC attack

Wed Feb 20, 2013 11:50 am

Just received this from the Real Estate Council:

Real Estate Council Investigates Condominium Marketing Complaints

Real estate licensees may be aware of recent media reports with respect to the marketing practices of some real estate licensees involved in the sale of condominium developments. The Council is currently investigating these matters to determine whether or not the activities reported on may constitute breaches of licensees' professional obligations under the Real Estate Services Act.

The Council reminds all licensees of the importance of always acting with integrity and in a manner that maintains public confidence in the real estate industry. This obligation includes maintaining compliance with the Real Estate Services Act, Regulation and Council Rules.

Arnold Shuchat
Richmond Realtor
So jimmy said I missed the dip in Richmond last year. And now prices have fallen even more with no balance in sight! The poor old man is just too old and grumpy!
 
HAM
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Re: MAC attack

Wed Feb 20, 2013 11:51 am

Tom,

Did u receive this in your inbox?
So jimmy said I missed the dip in Richmond last year. And now prices have fallen even more with no balance in sight! The poor old man is just too old and grumpy!
 
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jesse1
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Re: MAC attack

Wed Feb 20, 2013 12:16 pm

There is no shame in overpaying
 
thinktom
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Re: MAC attack

Wed Feb 20, 2013 12:53 pm

Tom,

Did u receive this in your inbox?
Yes I did. And I'm glad they are investigating.
 
HAM
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Re: MAC attack

Wed Feb 20, 2013 1:51 pm

The federal competition bureau is now working on this case. I hope they give it to them hard.

Case #r619171
Last edited by HAM on Wed Feb 20, 2013 2:05 pm, edited 1 time in total.
So jimmy said I missed the dip in Richmond last year. And now prices have fallen even more with no balance in sight! The poor old man is just too old and grumpy!
 
Austin
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Re: MAC attack

Wed Feb 20, 2013 1:57 pm

Ahaha. Love it. Score one for the good guys. Looks like there's something called Karma after all...
The federal bureau of investigation is now working in this case. I hope they give it to them hard.
Eh whuh?


Federal Competition Bureau of Canada ...
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MultipleOffer
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Re: MAC attack

Wed Feb 20, 2013 8:54 pm

Here's their facebook post today:

MAC Marketing Solutions
For over ten years, MAC Marketing Solutions has strived for excellence built on a foundation of honesty, integrity and professionalism. This was rocked 10 days ago when poor judgment resulted in an inappropriate and uncharacteristic incident. I apologize for that incident and pledge that nothing like this will ever happen again at MAC. Having had the opportunity to assess the situation I have taken decisive actions. Although it will take time, we hope that we can earn back our good reputation and your trust. This situation has been difficult for everyone and as a company, we will learn from this, grow stronger and be better for it.

Regards,
Cameron McNeill
President, MAC Marketing Solutions
 
HAM
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Re: MAC attack

Wed Feb 20, 2013 9:05 pm

Here's their facebook post today:

MAC Marketing Solutions
For over ten years, MAC Marketing Solutions has strived for excellence built on a foundation of honesty, integrity and professionalism. This was rocked 10 days ago when poor judgment resulted in an inappropriate and uncharacteristic incident. I apologize for that incident and pledge that nothing like this will ever happen again at MAC. Having had the opportunity to assess the situation I have taken decisive actions. Although it will take time, we hope that we can earn back our good reputation and your trust. This situation has been difficult for everyone and as a company, we will learn from this, grow stronger and be better for it.

Regards,
Cameron McNeill
President, MAC Marketing Solutions
Well at least he cashed in when times were good.

The reputation of MAC is really been damaged. A friend of a friend works at MAC and what I'm hearing is that several people are going to leave. A senior manager resigned today. No apology is good enough as one screw up is all it needs to mess up this company. If this was a publicly traded company, it would of have had its stock price tank!

3 idiots not to listen to,

Cam McNeill :(
Can Muir :x
Cam Good :twisted:
So jimmy said I missed the dip in Richmond last year. And now prices have fallen even more with no balance in sight! The poor old man is just too old and grumpy!
 
timber2012
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Re: MAC attack

Thu Feb 21, 2013 6:51 am

Here's their facebook post today:

MAC Marketing Solutions
For over ten years, MAC Marketing Solutions has strived for excellence built on a foundation of honesty, integrity and professionalism. This was rocked 10 days ago when poor judgment resulted in an inappropriate and uncharacteristic incident. I apologize for that incident and pledge that nothing like this will ever happen again at MAC. Having had the opportunity to assess the situation I have taken decisive actions. Although it will take time, we hope that we can earn back our good reputation and your trust. This situation has been difficult for everyone and as a company, we will learn from this, grow stronger and be better for it.

Regards,
Cameron McNeill
President, MAC Marketing Solutions
Well at least he cashed in when times were good.

The reputation of MAC is really been damaged. A friend of a friend works at MAC and what I'm hearing is that several people are going to leave. A senior manager resigned today. No apology is good enough as one screw up is all it needs to mess up this company. If this was a publicly traded company, it would of have had its stock price tank!

3 idiots not to listen to,

Cam McNeill :(
Can Muir :x
Cam Good :twisted:
If it was a publicly traded company, the BCSC would have been up their ass. Funny how it will take a federal agency that has no ties to RE to probably deal out the punishment - heaven forbid the local RE board did anything.
George Carlin once said "Think of how stupid the average person is, and realize half of them are stupider than that.”
 
RiskArb
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Re: MAC attack

Thu Feb 21, 2013 8:57 pm

This story made the front page of the South China Morning Post today!

"Vancouver Property Scam: Senior executive resigns over deception intended to attract rich Chinese buyers"

The article went on to report all the details, the pictures of the Lee "sisters" and the whole concocted ruse of supposed Chinese buyers flocking in when the numbers showed prices had fallen for the past 11 months.

Great work by the bloggers!

Just think...... if MAC was smart enough to use an employee's friend instead of an actual employee as stand-in (just like how all the other prominent real estate marketers do) they'd have gotten away with it. And don't get me started on all the line-up of buyers outside projects too. In Hong Kong, developers (err individuals linked to developers) pay people to stand in line line and launches to give the imperssion of massive take-up. But because HK is run by property developers, you're never going to see any proper investigative work or enforcement done.
 
rofina
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Re: MAC attack

Thu Feb 21, 2013 10:33 pm

This story made the front page of the South China Morning Post today!

"Vancouver Property Scam: Senior executive resigns over deception intended to attract rich Chinese buyers"

The article went on to report all the details, the pictures of the Lee "sisters" and the whole concocted ruse of supposed Chinese buyers flocking in when the numbers showed prices had fallen for the past 11 months.

Great work by the bloggers!

Just think...... if MAC was smart enough to use an employee's friend instead of an actual employee as stand-in (just like how all the other prominent real estate marketers do) they'd have gotten away with it. And don't get me started on all the line-up of buyers outside projects too. In Hong Kong, developers (err individuals linked to developers) pay people to stand in line line and launches to give the imperssion of massive take-up. But because HK is run by property developers, you're never going to see any proper investigative work or enforcement done.
This was proven to be the case at previous (recent) tower launches in Vancouver too. Look for this type of behaviour to be highlighted in further media pieces about market manipulation in Vancouver. It seems like the local (and not so local) media is beginning to get a taste for bashing the darling that Van RE has become.

Whisperer definitely deserves credit for his work. Its amazing that he (and others) managed to put together a case compelling enough for the local media to run with. Brilliant stuff.
 
Austin
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Re: MAC attack

Fri Feb 22, 2013 8:31 am

To be fair, it wasn't the blogger who put it together, but rather an anonymous poster on VCI. He just ran with it.

This is a simple example of how the media can mis report facts and it just gets repeated ad infinitum as if it were true, but anyone close to what happen knows the reality of the matter.

It's all good though, what matters is that this sort of thing will happen less going forward.
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ArthurFonzarelli
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Re: MAC attack

Fri Feb 22, 2013 9:08 am

Listen to me now and believe me later - despite the recent media attention on MAC the local news media will increase its RE pumping like never before in the coming months. CBC had to run the retraction because they ran the initial bogus story, and others just piled on. But everyone knows this spring/summer is critical to stanch the bloodletting in prices, so the UDI's new "affordability metric" developed with the Vancouver Sun (no conflict there!) will be trotted out, emphasizing each price drop as an "increase in affordability," reinforcing the theme that "it's a great time to buy!"

Just had a friend ask around about "revenue property" SFHs in COV. Wow. At the worst price:rent ratio of any city ever in our country's history - and one of the worst in the world - people (three university degrees between them!) think they can find revenue positive SFHs in Vancouver. Mom and dad loaning for the DP, and they will live in the basement and rent out the top floor. So sad.
 
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Re: MAC attack

Fri Feb 22, 2013 10:11 am

Listen to me now and believe me later - despite the recent media attention on MAC the local news media will increase its RE pumping like never before in the coming months. CBC had to run the retraction because they ran the initial bogus story, and others just piled on. But everyone knows this spring/summer is critical to stanch the bloodletting in prices, so the UDI's new "affordability metric" developed with the Vancouver Sun (no conflict there!) will be trotted out, emphasizing each price drop as an "increase in affordability," reinforcing the theme that "it's a great time to buy!"

Just had a friend ask around about "revenue property" SFHs in COV. Wow. At the worst price:rent ratio of any city ever in our country's history - and one of the worst in the world - people (three university degrees between them!) think they can find revenue positive SFHs in Vancouver. Mom and dad loaning for the DP, and they will live in the basement and rent out the top floor. So sad.
I hear a lot more people renting there top floor. Why not collect more cash if u don't mind living in a basement.
 
fishguy15
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Re: MAC attack

Fri Feb 22, 2013 10:14 am

Why not collect more cash if u don't mind living in a basement.
Why not rent a basement suite then?

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