Greater Vancouver Real Estate Market Statistics – February 2018

Here are the latest real estate market statistics from Macdonald Realty on the Greater Vancouver listings and sales in February 2018.

Vancouver – Westside

In the Vancouver Westside, there were 53 sales of detached homes and 772 active listings at the end of the month. The benchmark sale price was $3,500,600, with an average days on market of 52. The hottest market for sales was Dunbar with 8 sales.

In comparison, the condo market had 331 sales, 665 active listings and a benchmark sale price of $835,800 with an average of 21 days on market. The hottest market for sales was Downtown VW, 84 sales.

Townhome sales were 34, active listings were 129. The benchmark sale price was $1,250,100 with an average days on market of 21. Fairview and Kitsilano with 7 sales each were the hottest markets of the month.

It’s a seller’s market for condos and townhomes.


[Read more…]

Okanagan Real Estate Market Statistics – February 2018

Here are the latest real estate market statistics from Macdonald Realty on Okanagan listings and sales in February 2018.

Central Okanagan: Kelowna and Lake Country

There were 138 sales, 680 active listings, and a $678,156 average sale price for detached homes in the Central Okanagan market, including Kelowna and Lake Country. The average days on market were 59.

The condo market featured 111 sales and 305 active listings at the end of the month. The average sale price was $355,047 with 54 average days on market.

Townhome sales were 59, active listings were 178, average sale price was $460,814, and the average days on market were 49.


[Read more…]

Luxury Homes Collection Magazine Winter 2017

2017 was a very dynamic year for luxury real estate in British Columbia, with new markets and regions entering into the luxury domain. Our luxury homes collection featured a variety of styles, areas and residences with exceptional quality. Trends, both modern and traditional coordinate within these pages to create inspiration and beautiful homes to choose from.

We checked in with our affiliates at Luxury Portfolio, the authority of luxury marketing, to discover the trends in luxury and the shape of the market. Read the inside cover message to learn about where the wealthy populations reside, and the movement of what luxury means to the affluent consumer.

Our Cover Story is a stunning equestrian estate in Saanich on Vancouver Island, located just outside of our capital city Victoria. From formal living spaces to exacting outdoor landscaping, this property has ample room and luxury. Our Wine Not features wines to celebrate with, please check out the recommendations to round out your holiday events.

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CLICK HERE to view the digital edition on your computer or tablet

23 Macdonald Realty agents complete Certified Negotiation Experts credential in the October and November 2017 classes

Congratulations to these 23 Macdonald Realty agents who successfully completed the Certified Negotiation Expert (CNE®) course in October and November 2017 and became negotiation experts.

Click below to see their information and how they can assist you today!

CNE blog (November 2017)

Kaz Adediran (South Surrey)
Iman Asemani (West Vancouver)
Maryam Badie (West Vancouver)
Mercedes Bourgaize (Parksville)
Eli Dagher (South Surrey)
Arash Emamy (Vancouver Downtown)
Kevin Grewal (North Delta)
Lindsay Hamilton (Victoria)
Avissa Izadi (West Vancouver)
Mary Lau (Coquitlam)
Fiona Lee (Coquitlam)
Edwin Lee (Vancouver East)
Mary Lynn Machado (Vancouver Downtown)
Marion Meyer (Vancouver West)
Lisa Nohr (Victoria)
Benson Perelonia (Vancouver West)
Bryan Schwartz (North Vancouver)
Sarah Shim (Vancouver East)
Amber Simpson (Victoria)
Paula Wensley (Victoria)
Jenny Wu (Victoria)
Philip Yu (Vancouver West)
Steve Yu (Maple Ridge)

Luxury Homes Collection Magazine Autumn 2017

These three quarters of 2017 have been quite interesting in the real estate market of British Columbia. Between regulations, rising housing costs, global investors and a changing provincial government, the landscape is ever shifting. Throughout the year our advisors have worked tirelessly for their clients and are marketing some exceptional properties within our Luxury Collection.

The Economist’s Economist Intelligence Unit once again named Vancouver the third most livable city in the world. This continues to foster the interest in British Columbia as a world class destination. We are fortunate to have a variety of landscapes and climate regions, and an abundance of land to satisfy discerning tastes.

Our Cover Story is a beautifully renovated condo in Downtown Vancouver, with an exceptional view and state of the art technology including a ensuite wall that turns into a window from the bedroom. This summer I stopped through the Similkameen Valley to sample wines from this beautiful region of the province. It is one of the best fruit growing areas with its rich soils, hot days and cool nights for exceptionally tasty fruit and sip-able wines. Please check out my recommendations for delicious wines in Wine Not for some great expressions of the district.

MacdonaldRealtyLuxMag_Autumn2017 - FINAL COVER

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CLICK HERE to view the digital edition on your computer or tablet

Luxury Homes Collection Magazine Summer 2017

The Summer Collection of the Luxury Homes Magazine is a fantastic presentation of luxury homes from around British Columbia. We are proud to have properties that range from Vancouver downtown condos to Okanagan waterfront villas to remote acreages on Vancouver Island. This diverse showcase is exceptional and a great representation of Macdonald Realty’s luxury marketing platform.

Our cover story is a newly built home in West Vancouver with stunning views of the inlet. There are some fantastic architectural details such as the herringbone hardwood floors, floating staircase, and basement bar with waterfall counter tops.


click magazine cover to view

click magazine cover to view

Our special feature in Wine Not is a visit to Backyard Vineyards in Langley. A boutique winery in the Fraser Valley with a wonderful tasting room and outdoor picnic space. Their wines are delightful and award-winning too! Check out our feature video with Backyard Vineyards and their experience working with a Macdonald associate –


CLICK HERE to view the digital edition on your computer or tablet



35 Macdonald Realty agents complete Certified Negotiation Experts credential in the March and May 2017 classes

Congratulations to these 35 Macdonald Realty agents who successfully completed the Certified Negotiation Expert (CNE®) course in March and May 2017 and became negotiation experts.

Click below to see their information and how they can assist you today!

CNE blog (May2017)_edited

Nancy Anaya (Langley)
Pinky Au (Vancouver West)
Lori Brandstrom (West Vancouver)
Kathryn Carrington (Squamish)
Kathy Chan (North Vancouver)
Natalie Courbet (Vancouver West)
Damian Cromwell (Squamish)
Peter Dives (West Vancouver)
Carmen Dives (West Vancouver)
Shelley Doby (Squamish)
Shawn Dubois (Sidney)
Barbara Dunfield (Vancouver Downtown)
Christine Filer (Vancouver West)
Cam Forbes (Vancouver West)
Carol Anne Forsgren (Victoria)
Emma Gudewill (Vancouver West)
Jordan Howard (Vancouver Downtown)
Rosie Punzo-Huber (South Surrey)
Liz Kaiser (Squamish)
Jim Kung (Vancouver West)
Irene Lee (Langley)
Matthew Lee (Vancouver West)
Cynthina Lo (West Vancouver)
Scott McQuade (Squamish)
Sarah Morphy (Whistler)
Ruby Nishi (Langley)
Susan Pipes (Sidney)
John Punzo (South Surrey)
Jordan Scott (Vancouver Downtown)
Karina Strachan (West Vancouver)
Gary Wang (Vancouver West)
Bradley Wattum (North Vancouver)
Sherrie Wong (Vancouver West)
Mishelle Yim (Vancouver West)
Janai York (Vancouver Downtown)


Macdonald Realty: A Giant Tree from a Tiny Acorn

Vision and hard work – that sums up how Lynn Hsu grew a real estate company from one office to 20 offices and 1,000-plus employees, making it Western Canada’s largest full-service brokerage firm

  • luxury-home-listed-by-macdonald-realty
    Luxury home listed by Macdonald Realty

  • lynn-hsu-and-dan-scarrow-of-macdonald-realty
    Macdonald Realty's leaders: Lynn Hsu, owner and CEO, and Dan Scarrow, managing broker

  • the-wade-in-victoria-marketed-by-macdonald-realty-platinum-project-marketing
    The Wade in Victoria, marketed by Macdonald Realty's new-home marketing division Platinum Project Marketing

As seen in… Profiles of Excellence 2017

Originally from Taiwan, Hsu immigrated to Canada in the late 1970s – alone, with no family or friends, no job prospects and speaking little English. Today, she has turned Macdonald Realty into Western Canada’s largest full-service brokerage firm.

From the moment Hsu purchased that single boutique residential firm, she had a vision.

“The real estate industry has two distinct businesses – one creation, the other servicing. On the servicing side, almost all the companies in BC were a single-purpose company, i.e. residential or commercial brokerage, property management or project marketing firms,” says Hsu. “I wanted to create a company that could provide our clients all-encompassing real estate solutions under one roof –from guiding a home buyer through the biggest investment of their lives, helping an investor manage and add value to their properties, to assembling ground intelligence to assist developers to create the right products for the marketplace.”

Today, the company’s interests encompass residential sales, commercial sales and leasing, property management, strata management, development and project management, project marketing and mortgage brokering and lending. It now includes the Macdonald Commercial and Macdonald Realty Platinum Project Marketing divisions.

Dan Scarrow, vice-president, says it’s Hsu’s ability to hire the right people that also helped propel her to the top of the industry. “Lynn has always understood how important it is to empower employees. She is a leader who inspires people through a shared vision and she has created an environment where people feel valued and fulfilled,” says Scarrow. “Her strongest point is that she has never wavered from her commitment to serve and protect our customers.”

Hsu believes that a business model based on a fundamental principle of upholding the highest standard of excellence, coupled with a strong conviction that every problem has a creative solution, would allow Macdonald Realty to grow organically. “When you have the belief and knowledge that you are doing your best to adhere to your core values, problems, rather than deflating you, energize you to action,” adds Hsu.

Hsu went on to explain: “Professionalism and integrity mean a great deal to me and my entire team. They are our company’s core values.”

[Read more…]

Luxury Homes Collection Magazine Spring 2017

The new season brings us a fresh new offering of Macdonald Realty luxury homes. We have a bright outlook for 2017 with our CEO Lynn Hsu providing our front line remarks on the market and our outlook.

We are delighted to present our spring edition with our cover feature from Bowen Island, a wonderful West Coast retreat perfectly situated to take in the gorgeous views and Zen atmosphere of the quiet landscape.

In this edition, in conjunction with our affiliate partners Luxury Portfolio International®, their MarketPulse® article gives a round up of wine regions of the world to invest in. From Oregon to South Africa, these are new market interests for investors and owners seeking a burgeoning market or new way of life. British Columbia’s own Okanagan Valley is included, where there is ripe opportunity for someone looking for a new venture or adventure.

click magazine cover to view

click magazine cover to view

Have a browse of our edition and enjoy the beautiful landscapes and properties from around the province.

CLICK HERE to view the digital edition on your computer or tablet

Luxury Homes Collection Magazine Winter 2016

The winter edition of the Luxury Homes Collection Magazine features some exceptional homes from across British Columbia that are part of the Macdonald Realty Luxury Program. With a diverse collection of properties, from downtown Penthouses to island waterfront cabins there is plenty to see.

Featured in this edition is a message from the President of Luxury Portfolio International®, Paul Boomsma, our network affiliate partner on the global brand. Their LuxeTrends® gives us a look into the future of exploration, innovation and relaxation, with touchscreen fridges and underwater resorts.

Winter 2016 Luxury Homes Collection Magazine

Click magazine cover to view

Gracing our pages this edition are some beautiful locations, with stunning views of the Okanagan vineyards, Georgia Strait beaches, and Squamish mountain ranges. Our cover story denotes the growing luxury properties in the Squamish Valley with 10 properties featured from the region. The Sea-to-Sky corridor is fast becoming a haven for city escapers, first time homeowners and outdoor enthusiasts looking to find affordable luxury and plenty of gorgeous scenery. You can always see our latest luxury property listings online at 

Click Here to View the digital edition on your computer or tablet

30 Macdonald Realty agents complete Certified Negotiation Experts credential in the November 2016 class

Congratulations to these 30 Macdonald Realty agents who successfully completed the Certified Negotiation Expert (CNE®) course on November 30, 2016 and became negotiation experts.

Click below to see their information and how they can assist you today!
November 2016 CNE_edited

Gurp Bains (South Surrey)
Wanetta Beal (Parksville)
Swaran Brar (South Surrey)
Niki Chisani (Vancouver West)
Andrew Chun (Vancouver Downtown)
Courtney Diebel (South Surrey)
Brandon Foreman (Victoria)
David Freitas (South Surrey)
Natalie Frizzo (West Vancouver)
Amy Hadikin (Parksville)
Brandon Hennessy (Langley)
Jessie Heo (Vancouver West)
Glen Jessup (Vancouver West)
Kylene Konkin (West Vancouver)
Chris Lambert (Vancouver Downtown)
Peggy Louise (North Vancouver)
Reza Mahmoodi (Langley)
Leah Marie (South Surrey)
Alexandra Marshall (West Vancouver)
Shay Moudahi (Sunshine Coast)
Sean O’Brien (South Surrey)
Candy Oh (West Vancouver)
Samantha Place (Sunshine Coast)
William Rubulotta (Vancouver West)
Scott Sawyer (Coquitlam)
Shelley Tourangeau (Coquitlam)
Steve Walker (Langley)
Barbie Whitworth (Sunshine Coast)
Mitra Sar (Vancouver Downtown)
Ann Zizka (Coquitlam)

Luxury Homes Magazine summer 2016 edition

This summer edition of Macdonald Realty’s Luxury Homes Collection magazine is our largest edition to date and features more luxury listings than ever before! A sure sign of the record breaking spring that real estate markets across British Columbia have been experiencing this year.

Our cover home 530 Eastcot Road is a $6.988 million dollar property in British Properties, West Vancouver. The epitome of modern Italian elegance with over 8000 sq ft of indoor living space, and gorgeous outdoor vignettes await the buyer of this luxury property.  We also feature an $18 million dollar heritage mansion in Shaughnessy, a $14 million dollar two-level suite in Three Harbour Green at Coal Harbour, and spectacular custom built homes in the red hot market of Squamish.

Summer 2016 Luxury Homes Collection magazine

Click magazine cover to view

Looking for your own piece of B.C.’s stunning waterfront? We have luxury waterfront properties for sale in Victoria, Nanaimo, Pender Island, Galiano Island, Salt Spring Island, Bowen Island and the Okanagan included in this edition of the Luxury Homes Collection magazine.  You can always see our latest luxury property listings online at 

Think Pink! with the return of our B.C. Wine Feature which shines a spotlight on the best VQA rose wines including 2015’s from Fort Berens, Clos du Soleil and Joie.

Click here to view the digital edition on your computer or tablet.

2016 Chamber Award Nominees: Macdonald Realty Victoria and Branch Manager Nathalie Ghoos

This year our Macdonald Realty Victoria office was a finalist for Employer of the Year in the 2016 Greater Victoria Business Awards held by the Chamber of Commerce! In addition, Victoria office’s Branch Manager Nathalie Ghoos was a finalist for Employee of the Year.

129_Ara_Balabanian                     natalievictoria
Ara Balabanian                                                   Nathalie Ghoos
Managing Broker, Victoria                                Branch Manager, Victoria

Congratulations to all the nominees, finalists, and winners who were a part of this great event. Find out more info about the Victoria office in the video below.

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Macdonald Realty Luxury Homes Magazine | Spring 2016

The latest edition of Macdonald Realty Luxury Homes is now available! This publication showcases unique and luxurious homes listed with Macdonald Realty from across the province.

Highlights of this Spring 2016 issue include an exceptional “Super Prime Real Estate” in Vancouver, an article on Americans Investing Abroad and a new LuxeTrends: Make 2016 a Family Focused Year, content courtesy of our partner Luxury Portfolio International.

Simply click the cover image below to see the digital version and to download the full PDF on your tablet or computer!


Macdonald Real Estate Group – Year in Review 2015

It is the season to look back with a Year in Review 2015 video of Macdonald Real Estate Group’s performance across our residential, commercial sales and leasing, property management and project marketing divisions, as well as the launch of our new office in Shanghai, China.  This success continues to position us as Western Canada’s largest integrated real estate firm.  Watch the 3 minute video for an overview of the key highlights of our last year.

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About Macdonald Real Estate Group
Based in Vancouver, Canada, Macdonald Real Estate Group (MREG) has an annual sales volume of over $7 billion and over $2 billion in assets under management.  With more than 20 offices and nearly 1,000 staff and REALTORS®, MREG offers a full range of real estate services, including residential and commercial brokerage, property and strata management, project marketing, and the MREG Canadian Real Estate Investment Centre in Shanghai, China.  Macdonald Realty is the residential division of Macdonald Real Estate Group. For more information, visit


Macdonald Realty CEO Lynn Hsu recognized in the 2016 Swanepoel Power 200 List

Macdonald Realty’s President and CEO Lynn Hsu has been included in the Swanepoel™ annual list of The Most Powerful People in Residential Real Estate for 2016.

Ms. Hsu’s acquisition of Macdonald Realty in 1990 coincided with Vancouver’s emergence as an Asian hub on the international stage. She has subsequently grown the firm to 20 offices throughout British Columbia (Canada) with nearly 1,000 agents responsible for an estimated $5 billion in annual sales.

Lynn Hsu, recognized for growing Macdonald Realty from one office in 1990 to 20 offices and nearly 1000 agents 25 years later, is listed as #105 for the Power 200. This is the overall SP200 list which identifies the 200 leaders that have the most power and influence to impact the residential real estate brokerage industry.

In addition Lynn Hsu ranks in the Top 20 on their Women Leaders list, along with Pam O’Connor of Leading Real Estate Companies of the World®, our global network of market-leading independent brokerages. We’re also happy to see Stephanie Pfeffer Anton of Luxury Portfolio International® and LeadingRE named #1 in the Top 20 Social Influencers of Residential Real Estate.  Our friend and colleague Paul Boomsma, President of Luxury Portfolio International® also made the Power 200 list.

View the complete 2016 Swanepoel Power 200 lists.



Ian Lawrie’s Retirement | Mortgage Services

Join Macdonald Real Estate Group in extending best wishes to Ian Lawrie, our Vice President of Mortgage Services, who has retired at the end of 2015. Ian was with us for nearly 27 years, since he joined the Vancouver-West (Kerrisdale) office in 1989 and opened our first mortgage division.

Under Ian’s care, our mortgage services have undergone many changes. In recent years, he has brought our strategic partnership with Origin Home Financial Partners Inc to our offices with a team of dedicated, mobile mortgage professionals to serve our clients. Rest assured Macdonald Real Estate Group will continue to offer mortgage solutions for our clients.

View our Mortgage information page and contact an Origin mortgage advisor in your area.


Squamish and Whistler Real Estate Market Statistics – December 2015

Here are the latest real estate market statistics from Macdonald Realty on Squamish, Whistler and Sunshine Coast listings and sales in December 2015.


In the Whistler market, the benchmark sale price was $1,069,900 with an average days on market of 135 days for detached homes. At the end of December, there were 13 sales and 88 active listings.

In comparison, the condo market had 38 sales and 134 active listings. The benchmark sale price was $285,500, and the average days on market were 126.

Townhome featured 23 sales, 53 active listings and a $530,600 benchmark sale price with 83 average days on market.

Listings are down. Sales are up. It’s a seller’s market.



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22 more Macdonald Realty agents become Certified Negotiation Experts in September and October courses

After another successful Certified Negotiation Expert course (CNE®) 22 more of our agents have graduated. Congratulations to all who completed the course on September 22, 2015 and October 30, 2015!

Click below to see their information and see how they can assist you today!


Mark Attfield (Surrey)
Randy Ayers (Surrey)
Deborah Boyd (Surrey)
Jane Donnelly (Vancouver West)
Alice Rei Ho (Vancouver West)
Liz Holmes (Surrey)
Jeremy Kalenuik (Surrey)
Jessie Kandola (Vancouver East)
Eric Katajamaki (Surrey)
Maryanne Kayal (Vancouver West)
Shelley Kellerman (Maple Ridge)
Sukhpreet Narula (Surrey)
Robert Neall (Surrey)
Shawn Nesbitt (Vancouver East)
Anh Nguyen (Coquitlam)
Azmina Sayani (Surrey)
Cheryl Steer (Vancouver West)
Evelyn Tkaczyk (Maple Ridge)
Jade Torner (Coquitlam)
Scott Trinder (Vancouver West)
Torin Wells (North Vancouver)
Linda Xu (Surrey)

Tom Garvey joins Macdonald Realty

VANCOUVER, B.C., Canada (October 29, 2015) – Macdonald Realty has hired Tom Garvey as the new full-time Managing Broker for their Coquitlam and Maple Ridge offices. He will be the go-to resource for transaction-related questions, and responsible for retention, recruitment and training in those offices.

“Macdonald Realty is fortunate to add Tom to our Management Team.” says Jonathan Cooper, Vice President, Operations for Macdonald Real Estate Group. “He brings several decades of industry experience to this role, both in sales and in management, and is well respected in the Greater Vancouver real estate community.  Tom will be a tremendous resource to his offices and our company as a whole.”

Tom has served the Fraser Valley and Greater Vancouver Real Estate boards on a number of committees including Education, Technology, MLS®, and Professional Conduct. Moreover, he has also been a part of the BCREA education committee and acts as a Student Advisor for The Real Estate Institute of British Columbia.


For more information, please contact:
Jonathan Cooper, Vice President, Operations
Macdonald Real Estate Group, Inc.
Phone – 604 264 6789
Email –
Tom Garvey FRI, RI(BC)
Managing Broker,  Macdonald Realty Ltd.
Phone – 604 931 5551
Email –

About Macdonald Real Estate Group:
Based in Vancouver, Canada, Macdonald Real Estate Group (MREG) has an annual sales volume of over $6.3 billion and just under $2 billion in assets under management.  With more than 20 offices and nearly 1,000 staff and REALTORS®, MREG offers a full range of real estate services, including residential and commercial brokerage, property and strata management, project marketing, and the MREG Canadian Real Estate Investment Centre in Shanghai, China.  Macdonald Realty is the residential division of Macdonald Real Estate Group. For more information, visit

Macdonald Realty #1 in 2015 list of “Biggest BC businesses owned by women” | BIV


In the August 4, 2015 edition of Business in Vancouver, Macdonald Realty was ranked #1 on their annual list of the biggest BC businesses owned by women.  With 930 employees in B.C., Macdonald Realty’s Owner, President and CEO Lynn Hsu tops a list that includes SimpeQ Care, TPD, Purdys Chocolatier and CEFA Early Learning Schools in the Top 5.

Macdonald Realty also ranks 11th on BIV’s list of Biggest B.C. organizations managed by women.

Business in Vancouver newspaper is the flagship publication of Business in Vancouver Media Group. Since its creation in 1989, the weekly newspaper has been an essential source of news, features, analysis and data for Vancouver business leaders and influencers. It remains a must-read source of unique, unduplicated business insight.

See the full list at Business in Vancouver.


Lynn Hsu, CEO of Macdonald Realty, named one of The 50 Most Influential Women in BC | BCBusiness

From politicians to bankers, charity mavens to retail entrepreneurs, these are the leaders who are having a big impact behind the scenes and at centre stage in British Columbia.

If you’re a reader of the business press—or any story featuring the power brokers in our midst—you’ll be struck by one thing above all else: the paucity of women. While some may argue that “them’s the numbers”—and yes, women are poorly represented in the boardrooms and backrooms of B.C.—the fact is that we in the media bear some responsibility. The evidence of powerful and dynamic women leaders abounds. It’s just not being reported as frequently.

That, in part, is why BCBusiness decided to do this survey of B.C.’s Most Influential Women: to put a distinctly female face on power and influence in B.C….

Lynn Hsu
President and CEO, Macdonald Realty

Influence: Taiwanese immigrant Hsu has helped turn Macdonald into one of the largest full-service real estate firms in B.C–and the gateway for Mainland Chinese investors.

The panel says: “Macdonald is far bigger than even the real estate industry realizes, in terms of the amount of transactions. They’re one of the largest residential brokers in B.C., and on the commercial side, the amount of real estate that they’re transacting–they’re doing deals that are as big as what Colliers or CBRE is doing.”

Read about the other 50 Most Influential Women in BC at BCBusiness


BC Real Estate is Front and Centre in Shanghai | BCBusiness with Dan Scarrow

Beyond Borders
Macdonald Realty’s Shanghai office is meeting the needs of its clients and bearing fruitful results

As seen in BCBusiness July 2015 issue.

As the demands of the BC real estate market change, realtors and their respective real estate agencies must react accordingly to stay in the game. For one agency, this meant thinking outside of the box and stepping out of its time zone.

When Macdonald Realty opened its office in Shanghai, China, last year, it was branded as “The Canadian Real Estate Investment Centre.” But Dan Scarrow, who manages the Shanghai office, says that his Chinese clients had their own words to describe it. Impressed with the office’s scope, they say that it covers “an entire dragon of services.”

Those services include residential resale, commercial sales and leasing, new development project marketing and property management. While American, Australian, New Zealand and European real estate companies had established offices in China, Macdonald Realty was the first company in China with a sole focus on Canadian real estate. The company decided to open the office as a response to their clients’ desire for better access to the Chinese market.

Scarrow is uniquely qualified to run the office. He has been working with Macdonald Realty for nearly 10 years, and has worked as an executive assistant for the CEO, and as a residential and a commercial agent. He is a born-and-bred Vancouverite, but he is half Taiwanese. “The upshot is that Mainland Chinese see me as a white Canadian, but I’m also able to communicate with them in Mandarin,” he says. “I guess you could say that, in China, I am an authoritative foreign curiosity and hence memorable.”

His company, says Scarrow, has several competitive advantages. “Our intimate knowledge of the market is what makes us uniquely valuable to investors here,” he says. “We are small enough to be agile, but big enough to provide a full range of brokerage, management and advisory services.”

Scarrow works with Chinese clients who are in the process of immigrating to Canada, with new Canadians and with pure investors. Those interested only in investment tend to look at new condos and commercial properties. “What resonates with investors in China is the perception of Canada as a safe and secure investment climate, in contrast with China’s robust, but volatile, environment,” says Scarrow.

In order to stand out in today’s highly competitive real estate market, Macdonald Realty has undertaken several innovative marketing strategies. As technology has made property information widely available to the public, Scarrow notes that the role of the real estate agent has shifted: from gatekeeper of information to interpreter and negotiator. To meet the demands of those roles, Macdonald Realty has been working with an outside training organization to offer all agents the exclusive Certified Negotiation Expert (CNE) designation. Macdonald Realty has also launched its own magazine called Macdonald Realty Luxury Homes, to help market its luxury home listings in Canada and in China. Produced by the company’s own in-house creative marketing team, the magazine has proven to be a hit.

But from his own experience, Scarrow says that the most important way for an agent to get ahead is to be a competent professional first. “Doing a fantastic job with one client will generate more long-term business than even the most successful email campaign,” he says. “Start with the people who know and trust you, do an unbelievable job for them and continue learning about how to be a professional from the good agents and managers around you.” Dan Scarrow manages Macdonald Realty’s Shanghai office sults just come a lot easier.”

This article was originally posted on BCBusiness, June 12th, 2015. 


Macdonald Realty Nominees for HGTV’s House Hunt 2015

The HGTV House Hunt is on once again! This year we are nominated under 3 categories, with 4 of our listings in beautiful BC. Tour amazing homes across the globe, vote for your favorites, and enter for your chance to win a $10,000 cash prize! And remember you can vote for your favorites once a day. Follow the instructions below to vote for Macdonald Realty Nominees for HGTV’s House Hunt 2015:

Step 1: Tour the homes in the category.
Step 2: When you’ve found your favorite, click “I’m Ready to Vote.”
Step 3: Choose your favorite by clicking “Vote.”
Step 4: Click “Continue to Next Category” to tour more homes.

Amazing Kitchens: Country Estate in Vancouver

A mix of contemporary style and country charm brings this spacious, eat-in kitchen to life. Charcoal gray cabinets and gray stone countertops blend seamlessly together, while a gray and white chevron tile backsplash breaks up the monochromatic space. The large island pairs with country-style barstools to provide additional seating for dining. Click here to vote for this listing as your favorite Amazing Kitchen!


Privacy, Please: Luxe Chateau in Victoria

Sprawling mountain views and a luxurious infinity-edge pool and spa, what’s not to love? Relax, unwind and take in the incredible views of the natural Fiord of Finlayson Arm and the Saanich Inlet. Click here to vote for this listing as your favorite Privacy, Please candidate!


Rustic Lodge in Chilko

Located on 25 acres of deeded land with a private 10-acre lake, the Huston Family Estate offers an unparalleled atmosphere with breathtaking views of the majestic Chilko Valley. Click here to vote for this listing as your favorite Privacy, Please candidate!


Timber-Frame Home in Squamish


This backyard view of the home shows off the pairing of stone and neutral siding that were used for the exterior. The landscape and hardscape includes a small pond and evergreen trees. Click here to vote for this listing as your favorite International Homes candidate!


Thank you to our global partners Luxury Portfolio International for bringing attention to our amazing collection of luxury homes listed across British Columbia by our Macdonald Realty agents.

22 more Macdonald Realty agents become Certified Negotiation Experts

After another successful Certified Negotiation Expert course (CNE®) 22 more of our agents have graduated. Congratulations to all who completed the course on May 19th, 2015!

Click below to see their information and see how they can assist you today!


Brian Ashford (Coquitlam)
Daniel Card (Coquitlam)
June Conway (North Vancouver)
Cynthia Weberg (Vancouver Downtown)
Kee Wai Shum (Vancouver West)
Andrea Sinow (Vancouver West)
Jeff LaForge (Vancouver West)
Jean Seung (Vancouver West)
Janet Kidder (Vancouver West)
Jeanette Kraynick (Vancouver West)
Joanne Chen (Vancouver West)
Lisa Chandler (Vancouver West)
Lisa Jiang (Vancouver West)
Leila Neale (West Vancouver)
Mark Wiens (Vancouver West)
Sunny Sun (Vancouver West)
Brenda Harrison (Vancouver West)
Tina Kwok (Vancouver West)
Brian Besco (West Vancouver)
Hamed Mahmoudi (West Vancouver)
Karen Monsarrat (West Vancouver)
Shahin Shahmirzadi (West Vancouver)

Vancouver firm offers a one-stop real estate shop for Chinese investors in B.C. | The Vancouver Sun

When Vancouver-based Macdonald Realty dispatched Dan Scarrow, the agency’s vice-president of corporate strategy, to China last March to investigate the feasibility of launching a branch office in Shanghai, the assignment was initially only going to be for four months.

A year later, Scarrow, a second-generation Chinese Canadian who is fluent in Mandarin, is still there. The Vancouver Sun reached Scarrow in Shanghai by phone last week to discuss his progress, objectives and challenges in building a bridge for residential and commercial real estate investment between China and British Columbia as the new managing director of Macdonald Realty’s Canadian Real Estate Investment Centre in Shanghai.

Q When you first were dispatched to Shanghai at this time last year, it was for a four-month assignment to investigate opening up a Macdonald Realty branch in China. Why are you still there?

A We actually have ended up opening up an office here. We have a representative office over here in Shanghai now doing project marketing and commercial and residential prospecting for our Vancouver and British Columbia offices. We’ve branded it as the Canadian Real Estate Investment Centre, so it’s offering a one-stop shop for Chinese investors looking toward anything to do with Canadian real estate, specifically B.C.

Q Why did Macdonald Realty want a presence in China?

A It was sort of two-fold. The first one is that Chinese investors are becoming a bigger and bigger part of our market — both on the residential side and the commercial side. And after our investigation over here we found that there are no other Canadian [real estate] companies over here in China that actively do this, so we would be the first one.

Q What’s been the biggest adjustment living in China for you personally?

A Shanghai is a pretty easy city for an expat to get used to. I think that the rest of China would be a much more difficult adjustment, but Shanghai itself is a pretty cosmopolitan city with a pretty global outlook and a pretty robust expat community. So it’s not as difficult. The challenge, I guess, that everyone talks about is the pollution aspect. They talk about it here the same way Vancouverites talk about the rain.

Q What’s your mandate in terms of building links between commercial real estate in B.C. and the Chinese market?

A Our main mandate is to promote B.C. commercial properties over here in China. I think we all acknowledge that China has been growing. It has created the fastest-growing wealthy and middle class in human history, so tapping into that market I think is going to be increasingly important for Canada and Canadian companies over the next decades.

Q What’s the most common question you hear from Chinese clients interested in investing in British Columbia’s commercial real estate?

A The most common question actually isn’t about real estate. It’s with what is happening in immigration. The biggest question is what is Canada’s current immigration policy and what will it be moving forward, just because there have been so many changes to Canada’s immigration policy in the last few years, and I think everyone is a little bit confused as to what it will be moving forward.

Q Any unwelcome surprises or challenges doing real estate business in China?

A Not really. It’s been interesting in the last year because there were the big changes to the immigration program — the investor immigrant program in the middle of last year and continuing until today. And also with the collapse of oil prices and the subsequent drop in the Canadian dollar. That’s been another thing we’ve had to deal with, but more in a positive sense from our investors’ point of view because now Canada’s real estate market is seen as even cheaper than it was prior to that change.

Q In a blog post last year you wrote that wealthy clients in China are more interested in placing their children and a portion of their wealth outside of China than they are in immigrating themselves. Why do you think that’s the case, if it still is the case?

A It still is the case. If you’re a wealthy Chinese individual it’s likely because you have a large business still in China. China does not recognize dual citizenship and it’s just more difficult for you to actively operate your business without Chinese citizenship. So a lot of people, they’re not willing to give up their business so they’re not willing to give up their Chinese passport either.

Q Which areas of Vancouver’s commercial real estate market are your Chinese clients eager to get involved in?

A For a lot of our clients it’s hotels. But it’s an education process as well, letting them know which asset classes are involved or available in B.C. Hotel investment is more of an active business, so while we have a lot of hotel operator clients who are interested in buying hotels, if they don’t have that kind of experience we like to talk to them about some of the other opportunities that might be available. Some of the hotter ones would be street-front retail with redevelopment potential. That goes very quickly for us. We probably have 15 very serious-type buyers that would snap up products like that immediately, but we can’t find enough product for them. It’s a lot of investment-type product that has income right now but has development potential in five to 10 years.

Q What’s the next step for your operations in China?

A Right now we’re working with a couple of developers to promote their projects over here [in China] and so we’re doing project marketing and then also working with our residential agents to make sure the listings that we have are exposed to the widest possible audience. And finally — obviously — exposure of the commercial real estate realm. I think that’s really the big push right now. A lot of investors have already bought a home for themselves in Vancouver and they’re looking for ways to diversify their investment portfolio in Canada, and really the promotion of the commercial real estate, and the education of those buyers, is our next step.


This article was originally posted on The Vancouver Sun, February 24th, 2015.  Written by Evan Duggan.

Macdonald Realty 2014 Sales Awards

Congratulations to all our 2014 Sales Awards winners! Click on the picture below to see the PDF.


Connect with one of our award winning REALTORS® at

Brian Barber
Cynthia Dong
Mark Hagedorn
Bruce Long
Chris Midmore
Don O’Brien
Eric K. Poon
Dan Schulz
Bob Scragg
Brian Tattrie

Colin Colpitts
Wayne Tullis
Ashley Tullis

Lindy Leclair
Andy Schildhorn
Leigh Turnbull

Jennifer DiPietra
Al Jenkins
Brenda Jenkins

Cam Armstrong
Randy Eckert
Peter Ohrnberger
Michelle Rogers
David Thon & Andrea Thon

Amy Hadikin

Henri Procter
Kelly Regen
Sandra Smith

Gena Belanger
Shelley Dolby
Jack Fowler
Tom Malpass
Julie Quinlan
Shawn Wentworth

Greg Holmes & Liz Holmes
Chris Whitehead, Steve Karrasch, & Chandani Pooni
Kevin Lunder & Trish Lunder
David Bradley
Vijay Virk
Shawn Sawatzky

Carol Palfrey
Deborah Stellingwerff
Sean Stevens

Monique Badun, Kim Craig, Penny Graham & Bev Weaver
Allyson Brooke, Brenda Harrison, Deborah Phillips & Marj Allen
Frankie Chu & Sherman Ma
Murphy Costello & Jodi Norrison
Manyee Lui, Josephine Kwok, Christine Yeung & Anny Diao
Heather Notman, Lynn Johnson, Vita Kalns & Bruce Warner
Clair Rockel, Dayna Wosk & Marnie Quarry
Keith Roy, Greg Dent & Taryn Lees
Will McKitka & Kevin Hardy
Susana Chan
Lisa Chandler
Amal Chebaya
Ken Chong
Simon Clayton
Stephen Cronk
Lorne Goldman
John Lam
Elke Lee
Alice Lo
Erin Mulhern
Helen Nie
Karley Rice
Gordon V Sing
Nancy Wang
Gary Wong
Kevin Yu

Leslee Farrell & Sean Farrell
Jason Binab, Niels Madsen & Andy Rogers
Chace Whitson
Rebecca Miller
Connie Brown
Stephen Foster
Peter Nash

Paul Browne
Simon Coutts
Monique Davidson
Franco Diligenti
Nancy Donen
Dee Elliott
Jennie Frizzo
Kathryn Lester
Barry Thomas
Rosalinda Voth
Greg Wong

Shauna O’Callaghan


Nick Goulet
Razi Mohamed
Matt Nugent
David Price
John Sullivan
Stuart Wright

Bobbi Crandall
Richard Getty
Virginia Kung
Steven Oh

Brad Richert

Brenda Exner
Travis Franklin
Scott Meadus
Dave Telep
Lisa Telep

Lisa Gordon
Michael Sawyer
Majid Talebi

Diane Biernaskie & Jennifer Brock
Janice Tucker

Donald Ballard

Richard Alexander

Christine Barton
Mike Carney
Petra Hauke
Andrew Laurie

Kewal Athwal
May Chen
Norm Flemig
Darin Germyn
Mike Gleitman
Iqbal Grewal
Lydia Hachey
Tara Morrow-Hansen & Wes Hansen
Chris Harris
Jeremy Kalenuik
Sharon Lenning
MaryLou Leslie & Ken Leslie
Francis Mai
Barry Porter
Rene Quiaoit, Gloria Quiaoit & Rene-Anthony Quiaoit
Kylene Shannon
Dennis Wiemken
Sharon Williams
Daniel Wu & Jennifer Wu
David Yipp
Darryl Young

Sara Fakhari
Bud Lockhart & Peter Javier
Juliana Jiao
Carmen Leal
Matthew Lee
Dale Mounzer
Shelly Smee

Connie Buna
Melanie Chow
Lyn Hart

Anne Andrew
Derrick Cheung
Philip Cheung
Joseph Chiang
Leslie Connolly
Kerby Cowan
Jane Donnelly
Jason Feinstadt
J. Neil Hamilton
Lyn Harlton
Lydia Hsu
Linda Jinks
Heather Jones
Bonny Klassen
Serina Kwok
Garth Lam
Annabel Lee
William Lew
Whitney Lewis
Jason Low
Judith Meisen
Danny Nikas
Allan Palmer
Kris Richardson
Jennifer Ricci & Lori Rowe
Ainslie Sadler
Evelyn Siy
Carissa Siy
Cheryl Steer
Karin Tham
Steven Tse
Gordon Urquhart

Sheila Aujla
John Boyle & Linda Geddes
Dane Kingsbury
David Langlois
Greg Rowland
Eleanor V. Smith
Kevin Wensley

Lucie Ingoldby
Nancy Lloyd
Alex Mozaffarian
Dan Muzzin
Therese Reinsch
Michelle Taylor
Julie Urquhart

Carolyn Hill

30 more Macdonald Realty agents become Certified Negotiation Experts

After another successful Certified Negotiation Expert course (CNE®) 30 more of our agents have graduated. Congratulations to all who completed the course on January 28, 2015!

Click below to see their information and see how they can assist you today!


Christine Barton (Squamish)
Allyson Brooke (Vancouver West)
Brandon Cherrington (Vancouver East)
Kathryn Croutch (Langley)
Taya Docksteader (Langley)
Frank Fang (Coquitlam)
Jay Fraser (North Vancouver)
Leigh Freeman (Vancouver West)
Richard Getty (Coquitlam)
Heather Jones (Vancouver West)
Nelson Jordaan (Coquitlam)
Ming Sze Lai (Vancouver West)
Annabel Lee (Vancouver West)
Alice Lo (Vancouver West)
Shaun McRae (Coquitlam)
Ania Partyka (West Vancouver)
Sean Patterson (Vancouver East)
Aimee Qiu (Vancouver West)
Douglas Shwery (West Vancouver)
Karlis Silins (Vancouver East)
Karin Tham (Vancouver West)
Jacqueline Tiong (Vancouver West)
Nancy Wang (Vancouver West)
Sharon Williams (White Rock)
Graham Williams (White Rock)
Kathy Young (Vancouver West)
Thikra Zak (Coquitlam)
Vicky Chai (Vancouver West)
Whitney Lewis (Vancouver West)
Frazer Elliot (West Vancouver)
Margaret Wang (Vancouver West)
Don Montgomery (Westmar)

24 more Macdonald Realty agents become Certified Negotiation Experts

After another successful Certified Negotiation Expert course (CNE®) 24 more of our agents have graduated. Congratulations to all who completed the course on November 18, 2014!

Click below to see their information and see how they can assist you today!


Aki Li Foster (West Vancouver)
Amandah Tanner (West Vancouver)
Andrea Thon (North Vancouver)
Barbara Ohl (North Vancouver)
Bri Ragona (Vancouver West)
Dane Human (West Vancouver)
David Thon (North Vancouver)
Doug Reid (North Vancouver)
Geoff Taylor (West Vancouver)
Gita Tehranchi (West Vancouver)
Glenn Tomlinson (North Vancouver)
Jack Fowler (Squamish)
Jennie Frizzo (West Vancouver)
Julie Urquhart (West Vancouver)
Kathryn Lester (West Vancouver)
Lucie Ingoldby (West Vancouver)
Marcela Giuffre (West Vancouver)
Maria Chaplinskaya (West Vancouver)
Nancy Donen (West Vancouver)
Pauline Rilcof (Vancouver East)
Ron Friesen (North Vancouver)
Rosalinda Voth (West Vancouver)
Steve Berry (West Vancouver)
Susan J. Weeks (West Vancouver)

48 more Macdonald Realty agents become Certified Negotiation Experts

After another successful Certified Negotiation Expert course (CNE®) 48 more of our agents have graduated. Congratulations to all who completed the course on November 13, 2014!

Click below to see their information and see how they can assist you today!


Al Jenkins (Maple Ridge)
Andy Schildhorn (Langley)
Bob Rempel (Surrey)
Brad Richert (Langley)
Brenda Exner (Maple Ridge)
Brenda Jenkins (Maple Ridge)
Brett Hammill (Surrey)
Chandani Pooni (Surrey)
Chris Harris (Surrey)
Chris Whitehead (Surrey)
Danielle Howcroft (White Rock)
Daryl Cowden (Surrey)
Denis Sleightholme (Coquitlam)
Donna Harper (Langley)
Ei-Leen Ong (Langley)
Elliot Mandelcorn (Coquitlam)
Erik Hopkins (White Rock)
Greg Holmes (Surrey)
Irena Put (Langley)
Jasmine Niemi (Surrey)
Jeet Sidhu (Surrey)
Jeevan Kang (Surrey)
Julia Petrova (Langley)
Katu Sola (Langley)
Ken Leslie (Surrey)
Kevin Lunder (Surrey)
Kylene Shannon (Surrey)
Leigh Turnbull (Langley)
Linda Sue Peaker (Surrey)
Lydia Hachey (Surrey)
Marylou Leslie (Surrey)
Michael Gleitman (Surrey)
Nick Chabros (Coquitlam)
Norm Flemig (White Rock)
Paul Omonua (Surrey)
Peter Vanderlee (Maple Ridge)
Ron Mitchell (Maple Ridge)
Roy Pereira (Langley)
Scott Olson (Surrey)
Sharon Lenning (Surrey)
Shawn Sawatzky (Surrey)
Steven Karrasch (Surrey)
Tara Morrow (Surrey)
Tore Jacobsen (Surrey)
Trish Lunder (Surrey)
Val Berg (Surrey)
Virginia Kung (Coquitlam)
Wes Hansen (Surrey)

57 more Macdonald Realty agents become Certified Negotiation Experts

The second Lower Mainland  Certified Negotiation Expert course (CNE®) and 57 more of our agents have graduated. Congratulations to all who completed the course on November 7, 2014!



Click below to see their information and see how they can assist you today!

Dimitri Schwartzman (Coquitlam)
Robb Breckwoldt (Coquitlam)
Veronica Ren (Coquitlam)
Albert Petrov (Langley)
Daniel Williams (Langley)
Marina Williams (Langley)
Wes Jamison (Langley)
Dan Wagner (Maple Ridge)
Jason Dryburgh (Maple Ridge)
Jewel Yourchek (Maple Ridge)
Andrea Doby (North Vancouver)
Elaine Noble (North Vancouver)
Gwen Parkstrom (North Vancouver)
Hyun Chong Oh (North Vancouver)
Lisa Gordon (North Vancouver)
Peter Ohrnberger (North Vancouver)
Brian Loverin (Squamish)
Petra Hauke (Squamish)
Spencer Hinde (Squamish)
Tom Malpass (Squamish)
Shelly Smee (Vancouver Downtown)
Connie Buna (Vancouver East)
Paul Vigano (Vancouver East)
Peter Vanderkooy (Vancouver East)
Shauna Gold (Vancouver East)
Ainslie Sadler (Vancouver West)
Aisling Delahunt (Vancouver West)
Alistair Heath (Vancouver West)
Allison Macdonald (Vancouver West)
Angela Lee (Vancouver West)
Anne Marie Chan (Vancouver West)
Bonny Klassen (Vancouver West)
Cathryn Lawrence (Vancouver West)
Cecile Yuen (Vancouver West)
Debbie Erhardt (Vancouver West)
Gary Wong (Vancouver West)
Jennifer Ricci (Vancouver West)
Jodi Norrison (Vancouver West)
Josephine Hui (Vancouver West)
Karen Boykiw (Vancouver West)
Kevin Yu (Vancouver West)
Lawrence Leong (Vancouver West)
Leslie Connolly (Vancouver West)
Lori Rowe (Vancouver West)
Nerissa Choy (Vancouver West)
Sherman Ma (Vancouver West)
Simon Clayton (Vancouver West)
Steven Toth (Vancouver West)
William Lew (Vancouver West)
Dee Elliott (West Vancouver)
Diana Yu (West Vancouver)
Greg Wong (West Vancouver)
Sam Garman (West Vancouver)
Therese Reinsch (West Vancouver)
Will Gibson (West Vancouver)
Carolyn Hill (Whistler)
Shauna O’Callaghan (Whistler)

38 more Macdonald Realty agents become Certified Negotiation Experts in Vancouver

After another successful Certified Negotiation Expert course (CNE®) 38 more of our agents have graduated. Congratulations to all who completed the course on October 31, 2014!

Click below to see their information and see how they can assist you today!


Parva Aflatoon (North Vancouver)
Maureen Bellinger (Vancouver West)
David Brock (West Vancouver)
Paul Browne (West Vancouver)
Barbara Budzynski (North Vancouver)
David Caron (Vancouver West)
Celene Cheang (Vancouver West)
Eve Chuang (Vancouver West)
Pat Conway (West Vancouver)
Kerby Cowan (Vancouver West)
Steven Cronk (Vancouver West)
Bill Dick (Vancouver Offices)
Jason Feinstadt (Vancouver West)
Theirry Gudel (Vancouver West)
Emma Hamel (Vancouver West)
J. Neil Hamilton (Vancouver West)
Lyn Harlton (Vancouver West)
Lyn Hart (Vancouver East)
Dina Hingston (West Vancouver)
Ben Kay (Vancouver Downtown)
Ralph Kennedy (West Vancouver)
Serina Kwok (Vancouver West)
Marek Malinski (Vancouver West)
Kim McAlpine (Vancouver East)
Dan Muzzin (West Vancouver)
Chris Naples (North Vancouver)
Allan Palmer (Vancouver West)
Marnie Quarry (Vancouver West)
Lisa Richardson (North Vancouver)
Carly Sameshima (Vancouver West)
Devon Samson (North Vancouver)
Gordon V Sing (Vancouver West)
Deborah Stellingwerff (Vancouver East)
Donna Strother (Vancouver West)
Steve Taylor (West Vancouver)
Barry Thomas (West Vancouver)
Steven Tse (Vancouver West)
Jennifer West (Vancouver West)

35 Macdonald Realty agents become Certified Negotiation Experts on Vancouver Island

After a successful Certified Negotiation Expert course (CNE®) on Vancouver Island, 35 of our agents have graduated. Congratulations to all who completed the course on October 24, 2014!

Click below to see their information and see how they can assist you today!


Sheila Aujla (Victoria)
Ara Balabanian (Victoria)
David Beswick (Victoria)
Jason Binab (Victoria)
David Brunning (Parksville)
Cindy Evans (Parksville)
Stephen Foster (Victoria)
Nancy Gray (Victoria)
Erwin Huber (Parksville)
Tracy Keenan-Whyte (Victoria)
Dane Kingsbury (Victoria)
David Langlois (Victoria)
Cathy Levell (Parksville)
Dave Levell (Parksville)
Jane Logan (Victoria)
Paulette Marsollier (Victoria)
Rebecca Miller (Victoria)
Bob Milloy (Victoria)
Lisa Moulatsiotis (Parksville)
Deborah Nicol (Parksville)
Shelley Peever (Victoria)
Deborah Phillips (Vancouver West)
Andy Rogers (Victoria)
Greg Rowland (Victoria)
Helene Roy (Victoria)
Nigel Seale (Victoria)
Sophak Sim (Victoria)
Eleanor Smith (Victoria)
Lynn Van de Kamp (Victoria)
Paul Vandermade (Victoria)
Scott Vannan (Victoria)
Darien Verbrugge (Victoria)
Kevin Wensley (Victoria)
Kevin White (Victoria)
Mark Winter (Vancouver West)

The Impact of Asian Investors in Vancouver | Globe and Mail & BNN

Macdonald Realty is mentioned several times in a Globe and Mail article published this morning on the impact of Asian investors on the Vancouver housing market.  See a repost of the full report below including comments from Dan Scarrow, VP of Corporate Strategy for Macdonald Real Estate Group.



This Globe and Mail article lead to a mid-day live TV interview on the Business News Network, featuring Tony Letvinchuk, the managing director of Macdonald Commercial Real Estate ServicesClick here to watch the interview.


Vancouver housing data reveal Chinese connection

One of the largest real estate companies in British Columbia says that more than one-third of all the single-family detached homes it sold last year went to people with ties to mainland China.

Macdonald Realty Ltd., which has over 1,000 agents and staff in B.C., said 33.5 per cent of the 531 single family homes sold by its Vancouver offices in 2013 went to people who the company said were a mix of recent immigrants and Canadian citizens.

Those buyers, the company added, tended to spend more money, too, with the average cost of a house sold to these clients topping $2-million, compared to $1.4-million on average overall.

The figures did not include Macdonald’s sales in suburban areas such as Richmond, Burnaby or North Vancouver.

“This is our snapshot of Vancouver,” says Dan Scarrow, vice-president of corporate strategy at Macdonald Realty.

The information is based on reports from the firm’s sales, anecdotes from its agents and Mr. Scarrow’s own experience working with mainland Chinese clients, and it’s a glimpse into the influence of mainland Chinese money on Vancouver’s real estate market, which is considered among the most expensive in North America.

Vancouver has been flooded in recent years by tens of thousands of investor-class immigrants from mainland China, who have seen the west coast city as a stable – and picturesque – place to park their capital in luxury property.

That has helped drive up the average price of a single-family home in Vancouver to around $1.2-million.

Mr. Scarrow, who noted the firm does not query buyers about immigration status, believes that investment flowing from mainland China into Vancouver real estate is a quantifiable phenomenon, but has not personally seen much of the more controversial type of buyer: Those from abroad who buy for investment purposes but never live in the city. “We still see very few pure investors from China who have no connection to Vancouver,” he says.

Getting a handle on foreign buyers is difficult and Macdonald’s survey is far from exact – though one major property developer in Richmond said “that sounds about right.” The federal government does not collect meaningful data on the number of foreign buyers purchasing Canadian real estate, leaving industry participants to debate the impact of foreign capital on the local market. And that debate has gotten heated recently, with some developers accusing others of racism and criticizing those who want to slap curbs on foreign investment. The issue is complicated by the fact that some of Vancouver’s ethnically Chinese-Canadian citizens with ties to Hong Kong view newer immigrants from mainland China with a degree of suspicion, assuming their wealth might have been accumulated in part by proximity to China’s Communist Party, rather than in a free market with the rule of law like Hong Kong.

The lack of hard data has also complicated discussions about the city’s affordability crisis and fuelled a local cottage industry where analysts attempt to decipher the scope of foreign money by looking at things like electricity usage in downtown neighbourhoods where some suspect foreign buyers have bought condos in which they never live.

“People always say there are no stats. Well, here are the stats,” says Mr. Scarrow. “This is actual evidence.”

There have been some reports and statistics about the scale of foreign money in Vancouver real estate before, but few have been conclusive – and none have settled the debate. One Sotheby’s report based on a survey of its agents found that 40 per cent of the luxury properties it sold in Vancouver were to foreign buyers – but not all of them were from China. Many developers trying to downplay fears about Chinese investment cite a statistic showing that only 1 to 3 per cent of Vancouver real estate purchases are “foreign” buyers – but, as is the case with Macdonald’s sales, many more expensive homes are still sold to people based here but who have come, at some point, from mainland China. A 2011 study by Landcor Data showed that 74 per cent of luxury purchases in Richmond and Vancouver’s expensive west side were by buyers with mainland Chinese names.

Mr. Scarrow says his company is “indicative of the overall market,” since his firm has some real estate agents who target overseas Chinese buyers, but is also firmly oriented toward domestic sales, unlike other real estate firms that deliberately target Chinese buyers.

At the same time, Mr. Scarrow and Macdonald are so bullish on the potential for Chinese investment that he is spearheading the company’s efforts to open an office in China. “While there is very little data about foreign investors in Vancouver real estate, our own internal data is enough for us to commit to investing in a representative office in Shanghai,” said Mr. Scarrow, whose mother Lynn Hsu, who came from Taiwan in 1979, is the majority owner and president of Macdonald.

Others remain unconvinced – not about whether there is an influx of Chinese money, but whether the flow of foreign capital will continue unabated.

Richard Kurland, a Vancouver immigration lawyer who works with wealthy Chinese immigrants, believes Vancouver may see a slowdown in foreign investment. He said some wealthy Chinese buyers might get anxious and sell off second properties because of the current crackdown on corruption in China.

In meetings with top real estate agents earlier this year, Mr. Kurland predicted that luxury residential real estate could drop in value by as much as 25 per cent as foreign investment dips. As evidence, he points to July real estate figures that showed 106 homes for sale on the west side in the $3-million to $3.5-million price bracket, and just nine sales, compared to 73 active listings and seven sales during July of 2013.

Originally published by The Globe and Mail on Friday, August 22, 2014.  Written by IAIN MARLOW.

Macdonald Realty tops 2014 list of “Biggest BC businesses owned by women” | BIV

Once again, for 2014, Macdonald Realty is number one on Business in Vancouver’s list of Biggest BC businesses owned by women.  Lynn Hsu tops this list which in which businesses are ranked by total number of staff.  Thank you to all of our Realtors and staff who make up this impressive number!



See all the rankings at Business In Vancouver.

Macdonald Realty looks for luxury buyers in China | The Globe and Mail

Sales of high-end properties are on the upswing in the Vancouver region, spurring one of British Columbia’s leading real estate firms to search for wealthy buyers by setting up shop in China.

Dan Scarrow, vice-president of corporate strategy at Macdonald Realty Ltd., said he has heard enough anecdotal evidence of well-heeled home buyers with roots in China to make it worthwhile to invest in a Shanghai office.

In February, Mr. Scarrow will start the first of two three-month assignments in 2014 in Shanghai. After his fact-finding mission, he plans to hire Mandarin-speaking staff in China to keep the overseas branch office going.

While real estate experts have estimated the proportion of foreign buyers in the Vancouver region’s housing market at only 1 to 3 per cent, Mr. Scarrow said if the statistics were to include recent immigrants with origins in China, the influence of rich Chinese buyers would be greater, especially on single-family detached homes in pockets of Vancouver’s West Side.

Most high-end transactions occur on Vancouver’s West Side and the Municipality of West Vancouver. In the luxury market, there were 644 properties that sold for $3-million or higher in the Vancouver area last year, up 47 per cent from 439 homes that traded hands in 2012, according to data compiled by Macdonald Realty. Of homes that sold last year, there were 148 that fetched at least $5-million, compared with 107 sales in that category in 2012.

Mr. Scarrow said it is hard to determine how many of those elite sales went to recent immigrants from China, noting that the ripple effect due to an influx of new money can easily be exaggerated. Still, he believes the proportion was significantly higher than 3 per cent last year.

“There isn’t this wave of offshore investors with no ties to Canada who are coming in to buy, but the genesis of their wealth is from mainland China,” said Mr. Scarrow, a Canadian who speaks Mandarin fluently. “Most of these people land in Canada first as investor-class immigrants.”

He dismisses tales circulating of wealthy offshore buyers snapping up Vancouver properties sight unseen as false, emphasizing that he will instead seek to nurture a market in which China-Canada family ties are crucial.

The 30-year-old Mr. Scarrow said that as a product of a mixed-race marriage, he is acutely aware that the issue of foreign shoppers is a sensitive one in British Columbia. “The perception among some sellers is that mainland Chinese money is driving the luxury real estate market here,” he said.

But Mr. Scarrow cautions homeowners against hiring real estate agents based only on ethnicity, stressing that the best representatives know Vancouver’s neighbourhoods well, no matter what their race.

Mr. Scarrow’s mother, Lynn Hsu, moved in 1979 from Taiwan to Vancouver. Ms. Hsu is the president and majority owner of Macdonald Realty, which has more than 1,000 real estate agents and staff across British Columbia. Her ex-husband, Peter Scarrow, is a lawyer who has worked in Asia for the past dozen years, including advising wealthy Chinese on Canadian immigration and tax rules.

Dan Scarrow said there will be opportunities to tap into the Chinese market during his stay in Shanghai. Besides seeking contacts who are interested in single-family residential properties, he will be on the lookout for investors in Vancouver’s commercial real estate market and also new condo projects.

Benchmark index prices, which strip out the most expensive properties, have jumped 17.3 per cent to $2.1-million for single-family detached houses over the past three years on the city’s West Side, according to the Real Estate Board of Greater Vancouver. By contrast, West Side prices have risen only 4 per cent for townhouses and 3.5 per cent for condos over the same period.

This article was originally posted on The Globe and Mail, Jan 19, 2014.  Written by Brent Jang.


Macdonald Realty Golf Tournament 2013 – A Huge Success

On Thursday July 11th 2013, Macdonald Realty hosted its annual golf tournament. Macdonald Realty staff, agents, friends and sponsors came together for this networking event in Richmond at Green Acres Golf Course. All the proceeds will be donated to Canadian Cancer Society, specifically research into lung cancer.

Thank You! To everyone who sponsored the event, as well as all the attendees.

Photos from the event can be found on our facebook page


Macdonald Realty Home Selling Infographic

We know that selling your home can be a stressful time. That’s why Macdonald Realty agents are here to help you through the home selling process from start to finish making your experience a comfortable one. From the first meeting to the final day when the keys are handed to the new owner, you can lean on your REALTOR® to offer professional advice and guidance every step of the way.

Use this handy Home Selling Infographic as an at-a-glance guide to where you are in the process and what to expect next.

If you have any questions, your Macdonald Realty agent is always just a phone call away. 1-877-278-3888


Why Macdonald Realty is exploring opening an office in Shanghai, China | Inman

After 70 years in business in British Columbia, and much consideration and analysis, Macdonald Real Estate Group has decided to explore opening an office in China. To that end, my colleague, Dan Scarrow, our vice president of corporate strategy, left for Shanghai early in February.

In order to understand our rationale, it is first important to appreciate how Chinese investors have shaped the real estate market in Vancouver, B.C., where our company is headquartered.

Over the past three decades, Macdonald Real Estate Group has assisted thousands of Asian families and investors in real estate transactions in the Vancouver area and across western Canada. In the 1980s and ’90s, there were overlapping waves of Hong Kong and Taiwanese investment, and more recently we have seen the mainland China wave.

Our experience has given us the chance to develop a sizable network of Asian clients, both commercial and residential.

While the official percentage of foreign buyers in the Vancouver area is around 3 percent, Chinese clients make up a much higher proportion of certain segments of the market. The exact percentage is hard to pin down, but our research would indicate that Chinese families account for at least 50 percent of Vancouver home sales over $3 million, and our commercial division has put together dozens of major transactions with Chinese investors on a range of commercial real estate asset classes.

Asian clients are not arbitrarily choosing Vancouver as a destination for real estate investment. Our Chinese clients generally have close family and business ties to the areas in which they invest.

For example, aside from business considerations, the primary factor in shaping immigration-related real estate decisions for Chinese families will be proximity and availability of educational opportunities for the next generation.

Aside from business considerations, the primary factor in shaping immigration-related real estate decisions for Chinese families is educational opportunities for the next generation.””
That said, these clients often maintain a foothold in their country of origin, where they often have ongoing commercial interests.

If we open an office in Shanghai, we will be better able to serve our clients who are based in China, or who those spend significant time there. They will have somewhere to go to review documents, and get insight on real estate issues.

In addition, having a presence in China will give us another channel for promoting real estate opportunities.

I will be providing periodic updates to Inman as we go through our due diligence in Shanghai. Hopefully you can find something in our experience that is useful to you in your business, or at the very least you can enjoy watching the process unfold.

Jonathan Cooper is vice president of operations at Macdonald Real Estate Group (MREG). Based in Vancouver, British Columbia, MREG has 20 offices and 1,000 staff and Realtors, and offers a full range of real estate services across the province, including residential and commercial brokerage, property and strata management, and project marketing.

This article was originally posted on Inman News, Feb 21, 2014.
View the original post at Inman News

For more information contact Macdonald Realty at 1-877-278-3888

Macdonald Realty 2012 Sales Awards

Congratulations to all our agents who received an award this year!

Award of Excellence

Cynthia Dong
Eric Poon
David Price
Dan Scarrow
Brian Tattrie

Ashley Tullis
Wayne Tullis

Lindy Leclair
Andy Schildhorn

Scott Meadus

Peter Ohrnberger
Michelle Rogers
David Thon & Andrea Thon

Don Ballard
Amy Hadikin

Henri Procter
Sandra Smith

Norman Flemig
Fateh Iqbal Grewal
Chris Whitehead & Steve Karrasch
Dennis Wiemken
Sharon Williams
Daniel Wu & Jennifer Wu

Jay McInnes

Monique Badun, Kim Craig, Penny Graham & Bev Weaver
Allyson Brooke, Brenda Harrison, Deborah Phillips & Marj Allen
Susana Chan
Ken Chong
Frankie Chu & Sherman Ma
Simon Clayton
Murphy Costello & Bonny Staniszkis
Lorne Goldman
Patricia Houlihan
Lynn Johnson, Heather Notman, Vita Kalns & Bruce Warner
Heather Jones
Dane Kingsbury
Elke Lee
Whitney Lewis
Alice Lo
Manyee Lui
Will McKitka
Helen Bin Nie
Jennifer Ricci & Lori Rowe
Clair Rockel, Dayna Wosk & Marnie Quarry
Keith Roy, Greg Dent & Taryn Lees

Cheryl Barnes
Jason Binab, Niels Madsen & Andy Rogers
Leslee Farrell & Sean Farrell
Darien Verbrugge & Rebecca Ross
Tim Wiggins & Georgia Wiggins

Dee Elliott
Eric Latta
Tim Slater
Julie Urquhart
Greg Wong

Shauna O’Callaghan

Sales Achievement Award

Nick Goulet
Mark Hagedorn
Bruce Long
Chris Midmore
Vic Sandhar
Dan Schulz
Gary Webb
Stuart Wright

Lili Blackwell
Rob Breckwoldt
Bobbi Crandall
Richard Getty
Virginia Kung
Steven Oh
Veronica Ren

Joe Borlinha
Brad Richert
Leigh Turnbull

Jennifer DiPietra
Jason Dryburgh
Jason Exner
Al Jenkins & Brenda Jenkins
Lisa Telep

Cam Armstrong
Gwen Parkstrom

Rick Alexander
Kelly Regen

Valerie Berg
Christina Escher
Darin Germyn
Lisa Gill & Danielle Howcroft
Michael Gleitman & Tore Jacobsen
Lydia Hachey
Greg Holmes & Liz Holmes
Marylou Leslie & Ken Leslie
Kevin Lunder & Trish Lunder
Quang Huu Mai
Mark Manuel
Tara Morrow
Rene Quiaoit, Gloria Quiaoit & Rene-Anthony Quiaoit
Shawn Sawatzky
Kylene Shannon
Vijay Virk
David Yipp
Darryl Young

Sara Fakhari
Juliana Jiao
Bud Lockhart & Peter Javier

Melanie Chow
Lyn Hart
Carol Palfrey
Sean Stevens

Maureen Bellinger & Harold Groberman
Anne-Marie Chan
Celene Cheang
Amal Chebaya
Joseph Chiang
Leslie Connolly
Emma Hamel
Lyn Harlton
Linda Jinks
Garth Lam
John Lam
David Lees
Christine Lei
Judith Meisen
Wendy Mills & Jenny Hu
Erin Mulhern
Danny Nikas
Karley Rice
Kris Richardson
Donna Strother
Karin Tham
Steven Tse
Gordon Urquhart
Gary Wong
Sheryl Wosk
Ramona Wu
Kevin Yu

John Boyle & Linda Geddes
Stephen Foster
Jane Logan
Robert Milloy
Peter Nash
Erik Rapatz
Greg Rowland
Chace Whitson

Paul Browne
Simon Coutts
Monique Davidson
Jennie Frizzo
Lucie Ingoldby
Dan Muzzin
Therese Reinsch
Geoff Taylor

Franco Dilligenti

To see photos of the award ceremonies, check out our Facebook page.

Macdonald Realty Christmas Party Raises $25,000 for Charity

Macdonald Realty Vancouver (including the Main Street, Downtown, and Vancouver West offices) and Macdonald Commercial held their annual Christmas party on Friday December 2nd.   The annual Auction had some unique and unexpected donations this year, not the least of which was a simple loaf of FRENCH BREAD THAT SOLD FOR OVER $3,000! Veteran Westside REALTOR® and company Auctioneer Will McKitka managed to successful obtain a whopping $3,000 from one of his colleagues, which will benefit this year’s charity recipients.  Vancouver publication 24hrs included the Macdonald Realty Christmas party in a story on creative charitable giving.

“We wanted to add something simple to make the point, it was time to give to our community with little or no expectations of gain or reward. One singular item that could catch the imagination of our Realtors and staff ” McKitka said. After getting the green light to quietly slip in the unusual auction item from Company CEO and President Lynn Hsu the fundraisers knew they were on to a good thing. “We knew it would be unusual enough to titillate and catch the attention of our audience…We knew it would be a winner!”

This year’s beneficiaries were the ARTHRITIS RESEARCH CENTRE OF CANADA and the VANCOUVER HOSPICE SOCIETY, who are midway through the drive to raise $4.5 million dollars for a soon-to-be built West Side hospice at 4615 Granville Street.


Lynn Hsu Macdonald Realty: From humble beginnings to extraordinary success | Vancouver Observer

Success: Why and How

In 1985, while raising a young family, Lynn Hsu began her real estate career despite being a new immigrant with limited English and no social network.

From 1987 through 1989, Hsu was the number one salesperson for Western Canada at a large, national real estate firm. In 1990, Hsu bought Macdonald Realty; at the time a single office in Vancouver’s Westside. Fast forward 25 years and Hsu is heading Western Canada’s largest real estate brokerage firm, with over 1,000 realtors working in 20 offices across British Columbia. Macdonald Realty’s reported figure for gross sales in 2010 was $4.7 billion.

Hsu has been honored many times for her achievements, including:

“Self-made” is the phrase that comes to mind when I think of Lynn Hsu. Most of my small business consulting clients certainly aspire to achieve a success story like hers. On a more personal level, Hsu’s accomplishments as a female business owner absolutely dazzle me. Seeking insight into her success, I reached out to Hsu in hopes that she would share some of her personal and business tips:

Don’t accept the glass ceiling

One of the rare female top business executives in Canada, Hsu has never believed that a glass ceiling exists for women. “To succeed in business, one must put in time. Women traditionally have had less time to devote to career development, and this pattern holds true today,” said Hsu, who was never willing to accept that she would hit a glass ceiling. “If you begin to believe that it is impossible to move forward, you will stop looking for solutions to the hardships you face.”

Adversity builds character

Hsu named her mother as her inspiration because of the seemingly insurmountable obstacles, hardships, and poverty she faced while raising seven children. “Instead of caving in and accepting it as her reality, [my mother] took on three or four jobs at a time and worked until midnight to provide for our family,” Hsu recalled. “She taught me, not so much by words but by example, that any obstacle, no matter how big or difficult, can be overcome if one has the strong desire and works hard enough.”

Successful people are the product of their mistakes

When asked which of her attributes helped her succeed as an entrepreneur, Hsu pointed to her ability to quickly recover from mistakes. “I’m a risk taker and I’m not really afraid of failure, but I do make a conscious effort to learn from my mistakes.” Fear can be a paralyzing agent in business and in life. In order to grow, it’s important to be willing to risk making the occasional mistake and then be ready to use your ingenuity to rectify the situation.

Perseverance and hard work save the day  

Hsu’s colleagues would identify her boundless energy as her most valuable attribute. Her capacity to put in long hours and her tremendous appetite for problem solving have been indispensable both to the stakeholders of Macdonald Realty and to Hsu herself during the development of her entrepreneurial career.

“By a combination of hard work, a supportive family and a bit of luck, I was able to overcome my challenges. I believe one can always find a solution to a problem.”


Written by Sandy Huang, Posted: Oct 20th, 2011, Source – The Vancouver Observer

To view this article click here.


Macdonald Realty Voted Best Neighbourhood Real Estate Office | Georgia Straight

For the second consecutive year, the readers of  the Vancouver Magazine the Georgia Straight have voted Macdonald Realty number one in the Best Neighbourhood Real Estate Office category.  You can see the rankings here.  Covering Vancouver business and culture, the Georgia Straight is a weekly publication with over 690,000 readers; for the 2011 (16th annual) Best of Vancouver rankings, the magazine received over 10,000 ballots from Vancouverites.


Luxury real estate booming in Vancouver | Financial Post with Dan Scarrow and Matthew Lee

If you think Vancouver’s housing prices are overdue for a major price adjustment, tell that to the surging number of luxury home buyers.

According to MLS statistics provided by Macdonald Realty, a record 375 homes — including nearly 50 condos — sold for over $3-million in 2010, breaking the record of 209 set in 2009 and more than double the 167 sold in 2008.

Of those, 73 homes sold for over $5 million.

The sales were primarily, but not exclusively, on Vancouver’s west side, with the priciest home going for $17.5-million at 3489 Osler.

The second and third priciest homes — the second also on Osler and the third on Point Grey Road -both sold for about $11 million.

As well, Macdonald Realty says, if current patterns hold, the number of $3-million-plus homes is expected to reach 550 this year, raising the spectre that in some neighbourhoods a $3-million home may no longer be considered particularly exclusive.

In 2000, just 10 properties in Metro Vancouver sold for over $3-million, none of them condominiums.

The market for luxury homes is now “insanely hot,” with mainland Chinese buyers — who are also affecting the Richmond market in a big way — the primary purchasers, said Dan Scarrow, Macdonald Realty vice-president of corporate strategy.

“Ninety-per-cent (of the luxury home purchases) are on the west side, probably some in West Vancouver,” he said in an interview. “But it’s incredibly striking, when you think what the prices were 10 years ago.”

Scarrow said that while a $3-million house has always been categorized as “luxury,” he no longer knows if that’s the case in key West Side neighbourhoods, including Shaughnessy and Point Grey.

“We’re part of a global luxury market by the ultra-wealthy,” he said. “And from the buyers’ perspective, prices here are cheap for what you get.”

Tsur Somerville, director at the centre for urban economics and real estate, Sauder School of Business at the University of B.C., said in an interview that just because there are more homes selling for over $3-million doesn’t mean they’re not luxury homes.

“It’s pretty subjective,” he said. “But $3-million is an expensive home. And just because it’s on a small lot doesn’t mean it’s not a luxury house.

“And the fact that there’s a whole lot more ($3-million homes) than a decade ago, with the price increases, there’d better be.”

Mr. Somerville also said that China is a huge source of immigrants to B.C. and that mainland Chinese immigrants tend to be investors and entrepreneurs.

“Clearly, there’s a very targeted demand for higher-end properties that many associate with the mainland Chinese market.”

But he said there’s an absence of clear data on the specifics of those buyers, whether it’s primarily immigrants or investor money from China. As an indication of how the luxury condominium market has grown, Mr. Scarrow said that last year a total of 49 condos sold for over $3-million — including seven for over $5-million — with the top three closing in on $6-million each, the priciest at Two Harbour Green, 1139 West Cordova, in Coal Harbour, for $5.8-million and the other two at the Shangri-La in downtown Vancouver.

Scarrow said many more properties are crossing the $3-million threshold, which now buys a new or newer house in the 2,500-to 3,000-square-foot range on a smaller west side lot.

“Now, you see multiple $3-million-plus homes on every block. I’d say $5-million is now where you’re going for that luxury range.”

Alice Zhang, who moved from Hangzhou, China, to Vancouver two years ago, now lives in one of six properties that she and her husband have purchased in Vancouver since moving here.

Zhang, who has two children, is waiting to move into a new home they’re constructing on a Shaughnessy lot that they bought for about $3.1-million. The house is expected to cost another $3 million, which Zhang believes is a good deal.

“We moved from the most beautiful city in China to Vancouver, which we consider more beautiful,” said Zhang, whose family owns hotels and a real estate development company in China.

“I think that compared to other Canadian cities, Vancouver is expensive. But, China is more expensive (than Vancouver).

“And the air is very fresh here and it’s very green. You feel like you’re in a garden.”

Scarrow cited another client who purchased a 2,600-square-foot condo in Coal Harbour for about $1,600 a square foot.

“(She and her family) has homes all around the world. In Knightsbridge, London, a flat was sold to her for $8,000 (Cdn) per square foot. Their flat in London was 3,000 square feet and they paid $24 million for it.”

She also has two homes in Hong Kong, one in Lake Tahoe, one in San Francisco, one in New York and one in Madrid, Spain, Scarrow said. “They all say their Vancouver property is their favourite home. They think it’s the best value.”

Macdonald Realty sales manager Matthew Lee, whose firm sold the three most expensive homes in Vancouver in 2009 and two of the five most expensive homes in 2010, believes that it’s not just mainland Chinese who are fuelling the luxury market, “but buyers from Europe and the U.S. are willing to pay these prices as well. Globally, Vancouver is still seen as a relatively good bargain.”

While the west side of Vancouver had the largest number of luxury homes sold, other areas in B.C. have also seen some very expensive sales, including the Fraser Valley’s top three sales between $5.3-million and $6.1-million, the Okanagan, from $5.4-million to $10.7-million, and Victoria, from $3.9-million to $6.8-million.

And while Vancouver has seen some very expensive homes sold over the past decade, including one for $17.5 million in 2008 and one for $17-million as far back as 2004, it’s the sheer numbers that are striking. In 2000, just 10 homes sold for over $3-million, and 78 in 2005.


To view this article in Financial Post click here  By:  Brian Morton, Financial Post – Postmedia News


What is a Flat Fee / Mere Posting?

With the recent CREA agreement with the competition bureau, there have been a number of questions about what Flat Fee models are and how they work.

Flat fee, or For Sale by Owner (FSBO), companies typically provide a kit to a seller that may include a sign and the ability to place a property on the MLS® system, now known as a “MERE POSTING”, for an up-front and non-refundable fee.

These companies allow a seller to “contract out” of other services provided by full-service agents. Of course, along with allowing sellers to contract out of these services, they also allow agents to contract out of their fiduciary responsibilities of disclosure, confidentiality, and agency. In addition, agents who merely post may not be able or willing to: qualify buyers, provide advice on the market, contracts, legal issues, questions about the house, or even how to deal with an offer. In these cases, sellers would be responsible for showing their own property, being knowledgeable about the market, understanding their legal responsibilities, and hiring a lawyer to draw up contracts, which can run thousands of dollars and are paid regardless of whether a transaction is completed. In addition, a seller, under this model, may not be covered by errors and omissions insurance, meaning that they would be fully liable for a litany of offences, many of which could potentially run hundreds of thousands of dollars.

This Flat Fee model and others such as discounted brokers, contrary to popular belief and media’s reports, have always been allowed to exist in the BC real estate industry. However, the rest of the country has historically placed barriers or restrictions on alternative business models trying to use the MLS® (multiple listing service) system as a selling tool. With the recent CREA agreement, the rest of Canada has adopted BC’s progressive stance, which may have the effect of lowering the rest of Canada’s commission rates (typically 5-6 % of the total selling price) to where they are now in BC. This is a good thing, and, as we can see from the BC example, will improve the industry’s competitiveness. That said, despite having alternative models available to consumers for decades in BC, they still only represent less than 10% of the market, in part because sellers typically understand the important role a competent agent plays in effecting the successful sale of the most important asset in most people’s lives.


Macdonald Realty Voted Best Real Estate Office in Vancouver

The readers of the Vancouver weekly newspaper The Georgia Straight have voted Macdonald Realty number one in the “Best Neighbourhood Real Estate Office” category.  You can see the rankings here.  Covering Vancouver business and culture, The Georgia Straight is a weekly publication with over 690,000 readers; for the 2010 (15th annual) Best of Vancouver rankings, the magazine received a record 10,000 ballots.

Recreational Real Estate Hot | The Times Colonist

Buyers of recreational property are pushing up sales — especially in the entry-level price range — but the market has not recovered to pre-recession levels, says a new report by real estate giant Re/Max.

“I have never been busier,” said Sandra Smith, an agent for Macdonald Realty on Saltspring Island.

The upcoming long weekend sees her “booked solid with buyers” at a time when inventory gives buyers plenty of choice. Water view properties from $500,000 to $800,000 are especially popular.

“My personal thought is that we are not going to see a big spike in prices,” Smith said yesterday.

Buyers are arriving from such areas as the northwestern U.S., Alberta, Vancouver and the Island, Smith said.

Some are seeking an island getaway that will be a retirement home in a couple of years, while others are young families.

Smith said buyers held off last year because of the recession.

Allan Bruce of Pemberton Holmes on Saltspring is also seeing a steady stream of buyers.

“We still have a steady market but certainly the volume is down,” he said. The strongest activity is for properties below $500,000.

Across Canada, 79 per cent of recreational areas saw an increase in the number of sales for the first three months of this year, compared to the same time last year, the Re/Max report said.

“Stronger than expected economic recovery, combined with additional incentives such as rising interest rates, stricter lending criteria and a new sales tax have served to kick-start activity in recreational markets from coast to coast,” said Elton Ash, regional vice-president for Re/Max in Western Canada.

Buyers are looking to stretch their dollar as much as possible, he said. “This is especially true in Western Canada, where values have softened considerably year-over-year but are now starting to firm up.”

The starting price for a three-bedroom, winterized waterfront property on a standard lot on Saltspring Island would be $750,000 to $800,000, the report said. “Recreational property sales have more than doubled on Saltspring Island over last year.”

Five years ago, international and American buyers were more active in the market than today, it said.

On Vancouver Island’s west coast, the starting price for the same three-bedroom house is $499,000 in Ucluelet, and $875,000 in Tofino.

A two-bedroom waterfront condo starts at $245,000 in Ucluelet and $429,000 in Tofino, the report said.

Inventory is high, creating an “overabundance of listings at all price points,” which affect price, Re/Max said.

Showings have increased in the Comox Valley-Mount Washington region, where an “oversupply of inventory has placed buyers firmly in the driver’s seat,” the report said.

The starting price for a three-bedroom house was pegged at $475,000.


Article from The Victoria Times Colonist – May 21st, 2010

Macdonald Realty Named Largest Brokerage Firm in Canada | REAL Trends 2009

With a total sales volume of $4.7 billion in 2009, Macdonald Realty placed first in the REAL Trends 200 survey of Canada’s largest brokers.  The results were published in the May 2010 edition of REAL Trends magazine and reported by the National Post, Vancouver Sun, & The Province.   Based in Castle Rock, Colorado, REAL Trends has been ranking the top 500 brokerage firms in the United States since 1988. This is the first year their publication has included Canada.  We are very proud to have been named the largest brokerage firm in Canada during this inaugural list.


Click here to see a list of the top 23 firms in the survey