Broker under fire for ‘giving back to the community’

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A mortgage broker – along with a Realtor, a lawyer, a home inspector, an appraiser, and a financial planner -- have launched donthave1million.com, following a Twitter campaign of the same name. And the woman who launched that hashtag isn’t happy.

“She’s a little upset about that but hopefully she’ll see the benefit and maybe work with us,” Shane Ballard of Verico Complete Mortgage Services told MortgageBrokerNews.ca. “I don’t agree [that it’s self-serving], I believe it serves the people and it serves the cause; it’s very difficult to get into the market and we’ve put together a group of professionals who are actually giving back.”

Frustrated by the sky-high real estate prices in Vancouver, Eveline Xia started a Twitter conversation in April using the hashtag #donthave1 million. People from across the area picked up on the trend and posted their own frustration.

In the wake of this Ballard, along with a few other professionals, launched a website using the same name in the hopes of helping a few Vancouver citizens realize their homeownership dreams.

And Xia isn’t happy about it.

"They're in it for their personal gain," she told the CBC.

Still, Ballard insists their intentions are altruistic. The group is selecting a number of individuals throughout the year and promising a total of $1 million spread out among the winners – in real estate services -- to help them get into the market. The maximum one participant can win is $20,000 in services if they choose to work with Ballard and his team.

“We agree with her message and we’re trying to express our concern and we want to give something back; if we get recognition for it, so be it,” he said. “Responsible business people are the ones who give back. Why can’t we take advantage of an opportunity by giving back?”
 
  • Craig Vetter on 2015-05-14 1:12:00 PM

    I think this just goes to show the power of Social Media. In the end they are using it as a tool to get exposure but they are offering their time and services for free which is huge. I think its a unique marketing play.

    And ultimately they are in their part at least trying to provide a solution to a large and well publicized issue in Greater Vancouver.

    Is it the best idea, maybe not but I think they are genuinely giving back and anyone who sponsors, donates time or money is very cognizant of the exposure they get from it.

  • Ross Kay on 2015-05-14 7:46:06 PM

    Ms Xia and her group along with 17,000 plus petition signing Vancourites alone can Pop Vancouvers housing bubble in 60 days.

    Simply stop buying first time homes. The entire pyramid of resale home sold volumes in any market are dependent of first time buyers even at times of low interest rates when fewer are needed to keep the market from correcting.

    Of course this would do no good for the group who went out used her creative idea and didn't even think to ask her permission.

    Until Social Media the only fundamentals that caused a housing bubble to pop were economic based. It is now possible for Social Media to do the same thing. On mass removal of first time buyers from any regional market.

    Time will tell.

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