What is MLS?

What is MLS?

A definition of MLS as follows:

A multiple listing service (MLS, also multiple listing system or multiple listings service) is a suite of services that enables real estate brokers to establish contractual offers of compensation (among brokers), facilitates cooperation with other broker participants, accumulates and disseminates information to enable appraisals, and is a facility for the orderly correlation and dissemination of listing information to better serve broker’s clients, customers and the public. A multiple listing service’s database and software is used by real estate brokers in real estate (or aircraft broker[citation needed] in other industries for example), representing sellers under a listing contract to widely share information about properties with other brokers who may represent potential buyers or wish to cooperate with a seller’s broker in finding a buyer for the property or asset. The listing data stored in a multiple listing service’s database is the proprietary information of the broker who has obtained a listing agreement with a property’s seller.

Source: http://en.m.wikipedia.org/wiki/Multiple_listing_service

Should I have a Vancouver buyers agent?

Should I have a Vancouver buyers agent?

If you are thinking of purchasing a property in Vancouver or anywhere else. You probably have attended an open house or two and got asked this question “are you working with a Realtor?”.   Usually the question means do you have an agent to represent you as a buyer.

So why would you need a buyer’s agent? Wouldn’t seller’s agent help you? And wouldn’t you get a better deal anyways if you work directly with a seller’s agent?

Now, first thing is first I am a little byes when it comes to the subject. As a real estate agent who works with a lot of buyers I believe that having your buyer’s agent is a must.

If you don’t have a buyer’s agent are dealing with a selling agent directly are you actually getting a better deal? Seller is the one who actually is getting a better deal as Real Estate professional would usually have re-negotiate their commission in order to get a dual agency agreement signed. As a buyer getting offered a thousand dollars a bonus is not a big deal because your buyer’s agent would probably have negotiated a better deal for you either way.

Real estate professionals are people of integrity and love to help out. So even if you are working with a seller’s agent you can usually rely on their advice and help. However if I was the one purchasing a house I would want someone to work for my only, in my best interest and someone who can look over all of the documents.

What’s your opinion on buyer’s agents? Dual agency? Comment below!

If you need any real estate help or advice call me directly: 604-565-7052 or email: [email protected]


Is newspaper advertising for real estate in Vancouver dead?

Is newspaper advertising for real estate in Vancouver dead?

When selling a property in Vancouver you want to expose it to as many people as possible. There is never a sure way of knowing where the buyer will come from and how they found your property.

Advertising real estate in the newspaper was a must in 1990’s and early 2000’s. It was the best and one the only ways to expose your Vancouver property to the market.

With internet increasing in popularity and consumers becoming more tech savvy it is no surprise that in 2013 more than 75% of buyers start their search for property online. What does that tell us? It doesn’t necessary mean that buyers are finding their properties online but they start the search online. Finding open houses and likely starting to work with a real estate agent who is going to find them properties and set up some showings.

So is newspaper advertising for Vancouver properties still effective? The answer is yes and no. It is effective for certain properties and areas. Those are the properties and neighbourhoods that would generally appeal to older population who still read newspapers. Newspaper adverting is also effective for specific ethnical groups. New immigrants to Canada will read newspaper in their first language. With that being said advertising properties that don’t have an appeal to a specific age or ethnical group will likely not be effective.

Everyone has a different opinion on the subject. Please, comment below, is newspaper advertising for properties in Vancouver dead?

What is “Form B”?

What is “Form B”?

Form B is the strata corporation’s information certificate.  The required contents of this form are set out in the Regulations of the Strata Property Act.  Required information includes (i) the monthly strata fees, (ii) any arrears of strata fees, (iii) any alteration agreements affecting the strata lot, (iv) any upcoming special levies, (v) bylaw amendments that have not yet have been registered, (vi) ¾ vote resolutions for which notice has been given but not yet voted upon, (vii) a copy of the strata corporation’s depreciation report, if any, and (viii) the number of strata lots that are rented,  and (ix) a number of other items.  If you are a council member, you should never sign a Form B.  These should always be done by the property manager.

4 Things to be aware of when buying a condo in downtown Vancouver

4 Things to be aware of when buying a condo in downtown Vancouver

Congratulations you are probably thinking of purchasing a condo in Vancouver or anywhere else. If you have a good real estate agent and have done your due diligence owning a house or a condo is going to be one of the best things you have done in your life.  For more information on purchasing a house or a condo in Vancouver please, call Oleg Galyuk at 604-565-7052 or email [email protected]

Even though the title of this article is “4 things to be aware of when buying a condo in Vancouver” it could apply to many different areas. Please, make sure to do your proper research and talk to a local real estate agent.

Number one: request and read through strata corporation’s minutes for at least past 2 years. It is important to read strata minutes before purchasing a condo because there is a lot of valuable information you can find out about the building you’re about to move into and maybe even about your strata unit.

Number two: double check parking and storage ownership. In Vancouver buildings rarely have parking stalls that are a part of individual condo units. Usually parking and storage belongs to strata as a part of common property and Strata Corporation assigns each unit their individual parking stall and locker. With that being said Strata Corporation has the power assign any given parking stall and locker to any given unit in the building.

Number three: carefully read strata bylaws. Different strata buildings have different bylaws. Make sure to check the bylaws of the building you’re considering buying into. Pay extra attention to pet and rent ability bylaws; especially if it’s an investment property.

Number four: always request “Form B” that is at most 15 days old. As bylaws and strata rules can change if you are looking at an out-dated “Form B”. The last thing you want is to have unfortunate surprises after the deal completes.

There is a lot of other information that needs to be requested and to be aware of when purchasing a condo in Vancouver or anywhere else. Please, talk to your real estate agent or call Oleg Galyuk (real estate agent in Vancouver BC) – 604-565-7052 for information.

3 ways to improve your Vancouver house’s marketability

3 ways to improve your Vancouver house’s marketability

If you are thinking of selling your Vancouver house and want to get top dollar for it, here are 3 simple ways to increase your house’s marketability.

Number one: mow the lawn and do some landscaping. Your house’s yard is the first thing potential buyers will see. We all heard the expression “you only have one chance at a first impression”.  The same goes for your houses. Buyers will likely look at 15-20 houses before making their decision. Make sure they remember your home as a Vancouver house with a nice lawn not a house that needs some serious landscaping.

Number two: get an oil tank inspection. Oil tanks is a common problem found in Vancouver properties, especially houses in North Vancouver. Oil tank inspections are inexpensive and having the proof of an oil tank free yard is a great selling point for your Vancouver property. If there is an oil tank discovered on your property wouldn’t you rather have discovered it before you put your property on the market then after you have an offer on the table?

Number three: do minor paint touch-ups and small handyman type repairs. I am not suggesting you go out and spend thousands of dollars on repairs for the house you’re planning to sell but simple touch-ups can go a long way. Buyers will judge overall condition of the house by small little details. I know that doesn’t make sense but it’s true. If buyers see chipped paint they assume that the roof needs repairs. If buyers see loose door handle they will assume the foundation has a crack and so on.

Follow these three simple tips to make your Vancouver house more marketable. For help with real estate, please, call Oleg Galyuk real estate agent 604-565-7052 or email: [email protected]