Discount MLS Brokers Are On The Ropes

Realtysellers Ltd of Toronto has declared that it can no longer operate in the current real estate sales climate produced by the CREA. Discount brokerages, such as Realtysellers have been accused of dumping homes into the MLS network. The CREA has no restricted access to the MLS network by stating that all homes must be inspected by the listings realtor before being shown on MLS. Realtysellers is fighting the new rules, and many other discount brokerages across Canada may be in for a fight to maintain there market.

Discount firms will sell a home, with full MLS coverage, for as little as $495. CREA is against this low budget approach because most of the over 80,000 members of the CREA work on commission. You know, 1.5% to 6% of the sale. On a $100,000 sale this CREA members are making off like thieves. Bottom line is that CREA is trying to maintain the monopoly it have over the real estate industry. Can't blame them really. Would you take a pay cut?

Check out the article in the Globe and Mail

Fraud and Investment - The Two Can Usually Be Found Close Together

Where the money flows there is always someone trying to skim a little off the top, or trying to skim a lot. With the past boom in real estate in Canada, fraud has become a big concern for people in the real estate industry. The Ontario Law Society has is in the midst of a crack down on fraud. Lawyers are an integral part of real estate transfers, and have been accused of ripping people off. The Star has the complete story on what is being done about the problem.

Canadian investment companies are going abroad in their search for real estate investment. To date this year companies and investment funds have invested nearly 10 Billion dollars in foreign real estate. One major deal involves a Quebec company buying a shopping centre in Germany.

Edmonton Real Estate Is Still In A Tough Spot

Edmonton, Alberta has seen a rise in the conversion of apartment buildings into condominiums. The rise in real estate prices in the city, about 40 percent in the last year alone, has buildings switching to collective ownership. Of course this is not great news for everybody. The renters that cannot afford to buy into the new condo building are being forced out of their homes. Edmonton already has a rental shortage and condo conversions add to the problem. CBC.ca Has the full story and the problems involved.

Quebec and Discount Brokerages

Discount brokerage Proprio Direct was fined in 2001 for practices not inline with the province's real estate code of ethics. Proprio Direct charged a flat fee up front in order to sell a client's property. This type of fee is not inline with the real estate association standard of a percent of the selling price of a property, after the sale is complete. The Montreal based firm has fought the fines every step of the way, and now the decision is going to the Supreme Court. Use a real estate website and save thousands is what I would say. The full article can be found at Canada.com.

What Can You Do To Reduce Debt?

In order to buy a house most of us need a mortgage. With a mortgage comes interest. Over the 25 or 30 years that you are making mortgage payments you may pay for your home several times over because of interest. It is not something we like to think about, because it feels like throwing money away. I have found a very interesting article on debt, and what we can do to get out from under it. On the other hand, paying rent every month feels like throwing money away as well. At least with a mortgage you have some equity in your home, and hopefully the home's value increases over time. So whether you choose to buy a home with a mortgage, or to rent. Be wise with your money. Currently in British Columbia the market has begun to cool off, so maybe more of you will be able to buy homes in the future.

Heads up folks. Tomorrow, November 15, is the deadline for submissions to Canadian Real Estate eBook: Top 100 Websites. Click Here to Submit.

Snap Up Real Estate Has New Advertising Partners

Recently Snap Up Real Estate has partnered with Point2Agent real estate software to increase traffic to our website www.SnapUpRealEstate.ca. You can check out our home page with Point2Agent to see what kind of service they provide. As well we continue to have advertisers Wholesale Furniture Brokers and SilverServers listed on Snap Up Real Estate. If you would like to partner with one of the most affordable real estate sites try our advertising page. LSBlogs has also recently partnered with The Canadian Real Estate Blog with a new directory listing.

And now for our featured listing: "A Nature Lover's Paradise"
This Property is located in Bella Coola, B.C. and has a wonderful rustic cedar home, and 74 acres of prime wilderness. The full property description will blow your mind. This property is a steal at $565,000 CAD.

Snap Up Real Estate Now Has A Profile At HelloVancouver.com

In the interest of marketing Snap Up Real Estate we have uploaded our company profile to HelloVancouver website. While at the website you can visit our profile, and check out other interesting sites as well.

Snap Up Real Estate is also launching an eBook. If you think that your real estate company should be included in "Canadian Real Estate: Top 100 Websites", then contact us, or go to our web page for more info. The eBook will focus on only the best websites available in Canada, and will be available at the end of November.