What is the deal exactly, with One Percent Realty?
We are a fully licensed real estate company that offers full service but at a discount commission. In terms of services and exposure, we are identical to whoever you would like to compare us with. We are on MLS®, all the top internet real estates sites, we place a sign on your property ( if it's allowed ), we show the property, hold open houses, advertise it, handle all the negotiations, plus the conveyancing. There is nothing that you are not getting, except for a high commission!
What do you charge?
We charge a total of $7,950 for properties under $700,000. For properties over $700,000 we charge 1% of the sale price plus $950. Plus Applicable taxes, of course. It is as simple as that.
Are your listings on MLS® and realtor.ca?
Yes, and yes.
What if a buyer has his own agent? Do I have to pay them?
The $7,950 commission includes $3,500 of commission to whomever represents the Buyer. In a typical sale under $700,000 with 1% representing the Seller and the Buyer being represented by a Cooperating Brokerage: the 1% listing agent earns $3500, the cooperating Brokerage earns $3500, and the remaining $950 (or 0.9%) pays for the 1% agent's expenses in selling your home. As a matter of passing interest, over 75% of our listing sales are sold by Cooperating outside agents through the Multiple Listing Service. If an agent tell you that our listings are not sold by other agents, they are simply lying. We have years of MLS® statistics across Canada to prove it.
Other agents have told me that if I list with One Percent Realty, agents from other companies will not show my house because they don't get the same amount of money. Do agents boycott your listings?
Our listings are shown by cooperating REALTORS® everyday just like other listings on MLS®. We cannot measure showings that we don't get. What we have seen across Canada over the years is that over 75% of our listings sales are sold by cooperating agents. Would they rather have more money? Of course-no argument. But the fact is, our listings are displayed everywhere that all the other listings are. All our listings are on MLS®, all the top internet sites, have a sign on the lawn, are in the real estate paper, and we do open houses. So if someone is looking for a home in your neighbourhood, in your price range, they are going to know it is for sale. That buyer is going to look at whatever is on the market before they make their decision. Buyers don't pay the real estate commission, so why would they care which house they buy? If their agent is unhappy with what we pay, the buyer will call us. But the fact is that the agents show & sell our listings, every single day. All of our sold signs over the years prove it!
Are there any hidden fees?
When you sign the standard Multiple Listing contract with us, it lays out exactly the commission cost to you. You are not obligated to pay anything you don't agree to in writing.
What if I want to do 'even more' advertising than my 1% agent's marketing plan?
You are in control of the advertising of your home. If you want additional advertising beyond the marketing plan of your 1% agent then great, but you will be responsible for the additional cost of such. Your 1% agent will require your approval before spending such additional expenses. But it is quite rare for a Seller to request or pay any additional advertising from their 1% agent.