Real Estate Agents - Page 5 of 5

Real Estate Agents - Page 5

Real Estate agents here in Vancouver have been making a killing on the over-inflated market. They trend is to interest overseas (Chinese) investors to buy properly and flip it to other overseas investors, something without the deal ever being registered in our Land Titles office until three or four hands have flipped it. There are currently a few investigations by authorities into the practice of using real estate here for money laundring, as well as illegal agent transactions. When a single sale of a house nets an agent tens of thousands, they have also been caught selling to low bidders, just to turn over inventory and make quick bucks, even if it is against the best interest of the owners. How prices have more than quadrupled in the past decade, which has driven many middle class owners out of the area and made for vast areas of the GVRD that have below poverty level declared incomes, yet multi-million dollar home purchases. When an agent's only motivation is money, greed destroys the society they work in.