Real estate brokerages across the country have been quick to market FSBO and flat-fee services as a result of CREA’s consent agreement with the Competition Bureau.
SellerInvite.com in Edmonton, under broker Rod Thompson, is now providing sellers in Alberta full access to the MLS system for one fee of $999. “This $999 FSBO Plus package will provide 100-per-cent Realtor services during the listing phase, which includes a free market evaluation and assessment of your home’s value, signage and feature sheets. It also provides sellers with a licensed selling coach to access while on the market,” says the company in a news release.
Rod Thompson
SellerInvite.com says it introduced a single flat fee two years ago, “but under old rules had to provide full service to the seller. From a business perspective we weren’t able to maintain just one fee,” says the release. “However, with the recent changes brought on by the Competition Bureau we are now free to simply provide sellers with access to the system.
“SellerInvite.com has been in the top five per cent of all MLS sales for the past two years in the Edmonton region and has been offering a fee for service program from day one, saving sellers thousands in commissions,” the company says.
The brokerage says it was “the first to allow sellers the freedom to sell on their own but were required to play a role in the actual sale. Under the new rules sellers can now choose to sell on their own without the involvement of our Realtors.” Thompson says the brokerage’s business model was “designed and built with these changes in mind. We have always had the opportunity to charge what we want but were required to provide a minimum level of service with that. These new changes are the final touch we needed to complete the vision of our company.”
He says he is “concerned there will be agents just providing access with no service, which is not our intent at all. SellerInvite.com is a full-service brokerage and committed to educating sellers and providing them with ongoing assistance at no additional cost throughout the selling process.”
* * * * *
In Toronto, Synergy Real Estate Consulting has launched FlatFeeAgents.ca, a new online resource providing flat fee real estate listing services.
Tyler Ross, president and broker of record, says, “As CREA makes significant changes to their practices, we want to remain in the forefront of all industry developments. We tailored our new offering to provide consumers with the perfect hybrid between a full scope of brokerage services one would expect when working with a traditional Realtor and the value we expect when listing a property For Sale By Owner.”
FlatFeeAgents.ca provides sellers flat fee packages and low-cost, a-la-carte real estate listing options. All homes are listed on the MLS. Flat Fee Packages are priced from $799 for a Basic Service Package to $1,899 for a Full Service Package. Additional services provided a la carte range from market information reports, marketing resources (professional photography, 360 degree virtual tours) and more.
FlatFeeAgents.ca says it offers “a unique backend technology allowing clients to have full control over their listings. Sellers are able to change pictures, confirm appointments, keep track of leads…Alternatively, sellers can engage a Synergy Realtor to manage their sale entirely – where they will receive 100 per cent of the service at a fraction of the price.
The company offers full service representation for buyers, with a 50-per-cent commission refund, it says. It has been in operation since 2008, and currently serves only Ontario but Ross says it will open in British Columbia, Alberta and Quebec in 2011.
* * * * *
Gordon Halkett
In Nanaimo, B.C., veteran Realtor Gordon Halkett told REM, “I’ve been a licensee in Nanaimo for 34 years, and have been partners in the start-up of two real estate companies locally, one of which now operates as Re/Max of Nanaimo. I’ve been advocating for changes in commission structures for over 10 years and as a former director of our real estate board, discussed it many times. Now is my time to jump in!”
Halkett has changed the name of his former condo marketing company, www.VICondos.com to ReaList Realty International, which offers consumers “a Premium MLS package with competitive market commission rates and extensive advertising.” He’s also offering a discount Standard Package that lists the property on MLS for .99 per cent (less than one per cent) plus the buyer’s agent’s fee. “Marketing and agency representation and documentation are included so it’s not DIY,” he says.
