You may have heard about the upcoming changes in the real estate industry in BC, including the elimination of dual agency. These changes have now been delayed until June 15, by the Real Estate Council of BC.
The Office of the Superintendent of Real Estate said that “While the Real Estate Council has been working diligently to implement the new rules, it is clear that additional time would ensure a more successful roll out of the upcoming changes. Therefore, the Superintendent is amending the effective date of the rules related to dual agency and consumer disclosures from March 15, 2018 to June 15, 2018. This will allow education on the new rules to be in place prior to their coming into force.”
Once we have more clarification on the changes, we will inform you of the details in a future newsletter. You may know that dual agency is when one Realtor represents both the buyer and the seller in the same transaction. The elimination of dual agency is clear, however the Council was also talking about “double recusal”, which is taking it one step beyond the elimination of dual agency. Many of us are waiting to hear what they decide on “double recusal”.
Here are some articles to keep you up-to-date on what has been going on in the Prince Rupert area. Much of the news from the past month involves the Port, but CityWest also announced a partnership in an undersea fibre-optic network.
For the first month of the year, we are comparable to last year. We’ve had two more sales this year than last, but the dollar amount of sales was up by $367,650 last year. Not a huge amount on the scale of things.
The average house price is based only on one month, so that doesn’t tell us too much yet. It is interesting to note that the number of listings on the market are way higher this year (171) than last year (137). We’ll see what the next few months bring!
SALES (all types):
# of sales in Jan 2017 – 14
# of sales in Jan 2018 – 16
YEAR-TO-DATE SALES (all types)
As of Jan 31, 2017 – 14
As of Jan 31, 2018 – 16
TYPES OF PROPERTIES SOLD IN JANUARY 2018:
3 – land
1 – house on more than one acre
12 – houses
NUMBER OF ACTIVE LISTINGS (all types):
As of Jan 31, 2017 – 137
As of Jan 31, 2018 – 171
AVERAGE SALE PRICE OF A HOUSE (YEAR-TO-DATE)
As of Jan 31, 2017 – $ 239,500
As of Jan 31, 2018 – $ 290,916
TOTAL SALES OF ALL TYPES (YEAR-TO-DATE)
As of Jan 31, 2017 – $ 3,389,750
As of Jan 31, 2018 – $ 3,757,400
The stats are based in whole or in part on information supplied by the BC Northern Real Estate Board for the period January 1, 2017 through January 31, 2018.
Don’t DIY: 5 Times You Should Call a Professional
DIY can be a great way to get things done around the house; you save money and get a sense of accomplishments. But as fantastic as that can be, it is important to know your limits. Here are 5 times you should call a professional.
Significant plumbing jobs Even if you feel comfortable with minor plumbing work such as installing a dishwasher or fixing a leaky faucet, call in a professional for major jobs — especially anything involving a main stack or main supply line. You really don’t want to get flooded out.
Electrical repairs Bumps and scrapes are one thing, but electrical repairs carry greater danger than most home improvement projects. Not only is there the risk of electrocution, but you could also start a fire. Doing it yourself could even make it more difficult to sell your home one day, as you won’t have the proper safety certificate.
Asbestos removal You might be starting to see a theme with the items on this list; they all involve potentially dangerous work. Asbestos is airborne and can have serious health consequences. Let someone who know what they are doing, remove this dangerous substance from your home.
Adding a skylight Improperly installed skylights can cause leaks, which are more than just inconvenient.
Digging out a new basement There are two reasons for this one. Firstly, the sheer amount of labour. You plus shovel is no way to go about a project that can take weeks even with a fully equipped crew. Secondly, you need someone who knows foundation work. You don’t want your new basement to destabilize the entire house. It also needs to be properly waterproofed.
