Story of Twist and Turns of the Foreign Sales Tax Ends in a Satisfactory Settlement

Ethan of Nu Stream Realty just closed a deal in White Rock. After closing the sale of the estate, the original owner kept calling Ethan stated that he left something behind in their home. Ethan thought what could he possibly forget as all aspects of his service were on point; and that thought made him remain in bewilderment. Regardless, he took time out of his busy schedule and made a trip to the original owner’s home.


Upon arrival, he saw what he left behind and all the emotions left him speechless. At that moment, he felt all the work he did from dawn to night was all worth it.


The “something” that Ethan left behind was actually a big stack of National Geographic Magazines, newspapers and exquisite photographs collection put together by the elderly couple. Ethan once talked about this hobby casually with the elderly couple, but he never expected them to remember the conversation. In the eye of a collector such as Ethan, these magazines, newspapers and photographs are priceless treasures. This act of kindness left Ethan with gratefulness and countless numbers of thank you.

 

The story all began with the initial approach of a Caucasian elderly couple wished to sell their house in White Rock. The reason behind this sale was that the old couple wanted to use the money of this sale to purchase a retirement home back in the wife’s hometown located at an inland city of BC. The succession of this sale determined the ability of the elderly couple’s retirement plan at the inland city of BC. In the beginning, the elderly couple was dubious of Ethan’s ability because of his young age. Therefore, Ethan pledged that before August 1st, the house would be successfully sold.

 

After rounds of open house and moment share on WeChat, the house finally fell into the multi-offer stage. Within 8 days, Ethan successfully got the accepted offer and followed by the wait of property transfer and completion.

Who would have thought at this very moment, the government issued the 15% foreign buyer tax; and it so happened that the buyer of this house was a foreign buyer. After the release of this news, the buyer’s broker immediately contacted Ethan to discuss how to proceed upon such drastic change. Upon this massive change, the elderly couple was shocked and also sought help from Nu Stream Realty.

 

Due to the sudden issue of the new policy, all three parties of this case were dealing with the 15% foreign buyer tax for the first time. Therefore, both the buyer and seller resulted in a stalemate regarding the deposit of the house. This meant that the old couple could not complete with the purchase contract for the house at the inland city of BC in time, and new offers of the old house could not come in as well. As Ethan soothed the old couple’s emotions to put them at ease, he sought help from multiple places while calmly dealt with the buyer’s agent.

 

Ethan’s team leader, Karen Yang (White Rock & Surrey designated team leader), is an experienced real estate agent with an acute sense of analysis and judgment. Instantly after notified of this problem, she arranged a lawyer with relevant experience to represent the seller to negotiate and explain the consequences of the current case. If the case prolonged, the buyer not only unable to get the deposit back, might also have to compensate for the loss of the seller’s house located at the inland city of BC. After much negotiation, both parties settled on an agreement, thus the new policy discord was resolved peacefully.

 

The road to happiness is strewn with setbacks. In the interest of cheering up the old couple, Ethan did a lot of extra work for the open house such as bringing decorative lighting, furniture organization, packing of personal belongings etc. This passion and persistent towards work by Ethan truly moved the elderly couple, thus changed their thought from dubious to unconditional trust. Throughout the process of new tax issued and overwhelmed by sickness (during the process of selling the estate, old gentleman had a big surgery with the thought of giving up selling the property) the old couple still stood by Ethan’s side, with the thought of admirable professional dedication of Chinese real estate agents.

 

God will always bless anyone who puts effort into their work. Ethan soon got in touch with a previous buyer that was willing to offer the seller’s ideal price. With the additional deposit from the first offer, the elderly couple is walking away with a slight surplus. As the Chinese saying, misfortune may be an actual blessing.
In virtue of the sales of the property, the elderly couple was able to buy their ideal retirement home, thus resulted in the surprise gift for Ethan at the very beginning of the story. The saying of the gift is trifling but the feeling is profound, best described the gift. What Ethan received from the elderly couple were not only magazines and pictures, but the affirmation and trust in his work. After everything was settled, the elderly couple sent a gift and a praise letter to the company with invitation for the Nu Stream Realty colleagues to their house warming party to share their joy.


Ethan concluded this successful case to be “just the right time, the right place & the right people”, but the author’s opinion is: chance favors only the prepared mind. Satisfaction from our clients is our greatest success, does not matter how much work or time is put into each service. Obtaining the customers’ affirmation is our supreme honor.

 

In this case, seller encountered the setback of the newly issue policy and the back surgery, but even in this kind of desperate situation, the team that Ethan belongs to and the whole company reached out to help with the faith of “no matter how the business goes, our friendship remains everlasting” and “we work for our valued clients, not for commission”. Along with the faith and usage of abundant expert knowledge, tactical negotiation, and quick wits, the matter resulted in a satisfactory settlement. As a result of the daily close co-operation, accumulation of professional knowledge, selflessness service for our customers, the unfortunate conjunctures turned into great opportunity for winning people’s heart.

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