Tsawwassen homeowner Inger Kam admits she was tempted to call the number on the flyer but then had reservations when she saw the news.
Kam is like many homeowners getting a plethora of unsolicited flyers from eager real estate agents, some showing tempting examples of recent sales.
What drew her concern after looking over the bright blue flyer of New Coast Realty were news reports that the Real Estate Council of B.C recently imposed strict conditions on the firm following revelations of potentially questionable practices.
"I thought it was interesting and a lot of senior citizens who own houses here are sort of sitting on the teeter-totter wondering should they sell. I'm one of them but like keeping up on stuff, but others might not be aware of all the stuff that's happening," said Kam.
An audio recording of a training session by company owner Ze Yu Wu, who is not licensed as a realtor, appeared to show agents being told how to get sellers to make quick sales at lower-than-market prices.
The Real Estate Board of Greater Vancouver is looking into the allegations and whether it needs to investigate the company and its agents.
Kam said her own daughter ended up a victim of so-called shadowflipping, convinced to sell her Vancouver home probably way too low, only to see multiple transactions on it in quick succession where the price rose sharply.
"I can see it happening to vulnerable people who sign up to sell your house and then who knows what could happen," Kam said.
Single-detached houses remain the hot commodity and that can be seen in South Delta where the "benchmark" price of a Ladner home is now above $900,000 while the typical Tsawwassen home is well over $1 million.
Whether it's receiving glossy flyers on your doorstop or unsolicited letters by non-licensed individuals looking to buy homes, homeowners considering such offers can help protect themselves, said Greater Vancouver Real Estate Board president Dan Morrison.
Morrison told the Optimist it's important homeowners find out as much as they can about a realtor. Checking what other properties are selling for through MLS, making sure your property is listed publicly and talking with multiple realtors before deciding on one agent are also useful strategies to ensure you'll get the best possible return.
"It's no different than if you're hiring a plumber or doctor or anything else," he said. "Do your homework on it. It breaks my heart when I hear these stories about people knocking on somebody's door and doing a deal without those people having their own personal representation or somebody advising them, or somebody doing a private sale without putting their home on the MLS."
The Real Estate Council of B.C offers similar advice when it comes to unsolicited offers to buy your property, especially in a market of rapid price changes. It suggests getting multiple evaluations as well as possibly talking with a lawyer before signing any contract.
