Why Sell Your House Through The Property Finders of One Percent Realty?
There has been a lot of recent talk about the Competition Bureau and CREA and the recent changes to the MLS® rules that govern REALTORS®
Its time to shed a little light on this. The new MLS® rules allow for a licensed REALTOR® to do what is referred to as "mere-posting" a listing onto the MLS®. They will charge some sort of nominal fee for this, probably around $500 or something. The idea here is to allow people to market their properties themselves, (For Sale By Owner) and do all of the work themselves. From where we sit, this is probably a good thing. It gives consumers choices, which they previously did not really have. Now as we see it, consumers have 3 viable options:
Option #1 - Sell it through the traditional "higher commission companies" who will place your property on MLS® and provide full service real estate. Depending upon what your home is worth, this will cost a fair amount of money, though it will vary across the country. A $400,000 home will normally cost somewhere between $15,000-$24,000 through a company like this.
Option #2 - Sell it through The Property Finders of One Percent Realty. We will charge you $6900 for this same $400,000 home, with all the services and exposure that you would receive from the traditional higher commission companies. This fee also includes payment to the buyers agent ($3000). We do open houses, handle the showings, negotiations, and paperwork. The Property Finders have a state of the art online and paper marketing program, to give your home the best exposure possible. In short, the services and exposure are the same if not more as you would get from a higher commission company, but for way less money.
Option #3 - Sell it yourself. You can now put your home on MLS® and have your home exposed with all the other listings, and deal directly with the public or REALTORS® who may show your property. Worth noting, is that since your property is on the MLS® system you will have a reasonable chance of dealing with a buyer's agent. These buyers agents expect to be paid. Most likely, they will be looking to the Seller to pay them something, probably at least half of the fees discussed above (the $400,000 home). So again, if we use the $400,000 home as our example, a buyer's agent will be expecting to receive between $7500-$12,000 to sell your property. So if you can have the full services of our professional REALTORS® for $6900, why would you not just leave it to a professional? Make no mistake.The Property Finders business model would not have worked in the pre- internet era.
Prior to the Internet, Buyers used to get in the back seat of a REALTORS® car and go on a tour of homes. The REALTOR® would have his/her MLS® catalogue of homes which he was not allowed to give Buyer's a copy of. REALTORS® controlled MLS® information. This is simply not the way it happens anymore.
Nowadays with the Internet, consumers are empowered and in much more control of their new home search. Over 95% of Canadians who search for a home start their search on the Internet. Whether Buyers are looking for properties themselves on realtor.ca, or being automatically emailed MLS® properties directly from their REALTOR®, or other house hunting activities, nowadays Buyer's often know as much or more about their particular market and the homes for sale in it as their REALTOR® does.
It is no slight on other agents, but the buyer basically has access to MLS® and can check www.realtor.ca 20 times a day, and their agent will not be doing that, no matter who they are. These changes in technology and Buyer behaviour created the opportunity for the Property Finders of One Percent Realty to flourish.
When a Buyer sees a home that meets their criteria and is their dream home they do not ask "How much commission is being paid here." It's not of concern to the potential Buyer. The Buyer is concerned with number of bedrooms, bathrooms, location, schools, and obviously the price. Our listings are displayed everywhere that all the other listings are. If you are a buyer looking in a given neighbourhood in a given price range (which is basically all of them), then you will want to see every listing in that neighbourhood in your price range. With the Buyer now in the driver's seat as a much more sophisticated consumer the real estate marketplace had changed forever. Basically, the fox is in the hen house. Because a good product well priced will sell!!
If your home is well kept, and priced accurately, it will sell.
It has no relationship with the amount of commission you pay. With extensive experience in project marketing, One Percent Realty realized that there may be an opportunity to market houses in a similar lower commission higher volume manner. Spending most of their time prospecting for business, the conventional agent requires a higher commission structure to compensate for the lower volume/lower listing success rate in the highly competitive real estate industry. With the help of the technological advances such as the Internet, cell phones and fax machines, One Percent Realty was able to reduce the typical real estate office overhead as well as leverage the productivity advances of its agents to create a successful discount commission business model. Whereby our agents earn less per house sold they make it up in volume of sales at the end of year. It works great for The Property Finders, and it works great for our Sellers. We say at The Property Finders and One Percent Realty, the more deals we do the more money we are saving our clients! The Definition of Market Value
"The highest price estimate, in terms of money which a property will bring if exposed for sale in the open market allowing reasonable time to find a buyer who purchases it with knowledge of the uses to which it is adapted and for which it is capable of being used." (As defined by the Courts)
Does it say anything about commission?
The concept behind The Property Finders of One Percent Realty is that we provide you full service but a discount commission. For that full service on MLS® we charge just $6,900 for all homes under $600,000 and for homes over $600,000 we charge 1% plus $900. The '$900' aspect covers the typical disbursement costs to marketing and selling your home. Our agents provide all of the same services as if they would if they were to charge you a higher commission, the only difference being the amount of commission they charge you. Your 1% agent will help you determine the appropriate listing price, list your home on the MLS® service and thus your listing will be on the popular realtor.ca where all the buyers look, enter the listing on the onepercentrealty.com website, take interior and exterior digital photos, place a house for sale sign (if applicable), advertise your property where the Buyers are looking, show your home to prospective Buyers, provide you advice and assistance along the way. Our goal, like yours, is to sell your home.
What you save with One Percent Realty
The Property Finders of
|$ 200,000||$ 6,900*||$ 9,500||$ 2,600|
|$ 300,000||$ 6,900*||$ 12,000||$ 5,100|
|$ 400,000||$ 6,900*||$ 14,500||$ 7,600|
|$ 500,000||$ 6,900*||$ 17,000||$ 10,100|
|$ 600,000||$ 6,900*||$ 19,500||$ 12,600|
|$ 700,000||$ 7,900*||$ 22,000||$ 14,300|
|$ 800,000||$ 8,900*||$ 24,500||$ 15,600|
|$ 900,000||$ 9,900*||$ 27,000||$ 17,100|
|$ 1,000,000||$ 10,900*||$ 29,500||$ 18,600|
|*compared with a broker charging 7% on the first $100,000 and 2.5% on the balance, not all brokers charge the same.|
What you get with The Property Finders of One Percent Realty
- Full MLS® Exposure
- World Wide Internet Exposure on realtor.ca & onepercentrealty.com and shown to millions on www.thepropertyfinders.ca
- Personalized marketing plan for your home
- Experienced Professional Real Estate Agents
- Free No Obligation Market Evaluation
- Profesinal Digital Photos
- Responding to Consumer & REALTOR® Inquires
- Showing the Property to Prospective Buyers
- Assisting the Seller in Negotiating Favorable Terms & Conditions with an Offer
- Cooperating & Assisting Other Brokerages Working with Buyers
- Assisting in the Completion & Possession process
- Newspaper Advertising
- Open Houses
- Full Service Brokerage at a Fraction of the Cost
Will Other Agents Show My Property Finders / One Percent Realty Home?
The simple answer is yes. The Property Finders One Percent Realty MLS® listings are shown, and sold, by lots of Cooperating REALTORS® all of the time. Logic would dictate that if our One Percent Realty system was unable to attract Cooperating REALTORS® to sell our MLS® listings then we would be selling most of our own listings to our own Buyers. In fact, its quite the opposite. Over 70% of our listing sales are sold by Cooperating REALTORS® representing the Buyer which is inline with industry standards. That is the proof in the pudding that our system works great.
Why is that. We believe it is two reasons. Firstly, One Percent Realty listings (under $600,000) typically offer $3000 commission to Cooperating Brokers. While $3000 might not be as much as some of other listings, it still is a decent amount of money for a paycheque for Canadians these days including a lot of REALTORS®. The more important reason why other agents cooperate and sell our listings is that it is the Buyers who are dictating the shots these days. As mentioned above, if the Buyer loves the home does the amount of commission matter to the Buyer?
You Owe it to Yourself & Your Hard Earned Equity!
Spending $12,000-$20,000 or more to sell your home is a lot of money. If you are thinking about selling your home call your regular agent that you used last time, but this time also call The Property Finders of One Percent Realty " to compare our services and commission rates. Being full service agents, The Property Finders of One Percent Realty agents provide free no obligation market evaluations just like the other guys. Please don't let someone else tell you about our One Percent Realty system, let us tell you exactly what The Property Finders of One Percent Realty will do to sell your home. You and your hard earned equity will be glad you did.
By Sean jordan @ One Percent Realty