About One Percent Realty
Full Service Brokerage at a Fraction of the Cost! Sell your home for only $7,950!*
(*1% + $950 for properties over $700,000)
Selling a house in Victoria, BC? Do you want full MLS service from a professional realtor, but at a low commission? That’s One Percent Realty. The concept behind One Percent Realty is that we provide full service at a discount commission. We have full cooperation from other real estate agents, who sell approximately three quarters of our MLS listing sales, which is industry standard. Our agents provide the same real estate services as full commission realtors. The only difference is that we charge you less, way less. This is the best deal in town, so why pay more to sell your home?
One Percent Realty Ltd. was established in 1999. Market research showed that people recognized the value of a realtor, but they thought the commission fees were too high. One Percent Realty came in the market to fill the need for full service at lower fees.
Our fully licensed realtors are members of the MLS® real estate board, enabling them to properly market your property both on REALTOR.CA and the MLS® system, for maximum exposure to potential Buyers. Your One Percent Realty agent will help you determine the appropriate listing price, list your home on the MLS system, put it 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, 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. For a list of services, click here: The One Percent Realty Deal.
Commission Charged by One Percent Realty
The commission we charge is based on the selling price of your property.
1. We provide full real estate service at the flat fee of only $7,950 for homes under $700,000. $3,500 of the $7,950 flat fee goes to the real estate agent that represents the buyer, $3,500 goes to the agent who represents the seller, and $950 is for disbursements.
2. For houses over $700,000, we charge a rate equal to 1% + $950. The $950 disbursement portion pays for the typical costs associated with marketing and selling a property. Those costs include MLS fees, conveyancing to handle office paperwork, and an advertising budget.
The One Percent Realty Business Model
Nowadays with the Internet, consumers are in much more control of their home search. Over 85% 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®, nowadays Buyers are very well informed. The buyer has access to MLS® and can check www.realtor.ca. These changes in technology and Buyer behaviour created the opportunity for the concept 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. 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, then you will want to see every listing in that neighbourhood in your price range. With the Buyer now in the driver’s seat, the real estate marketplace had changed forever.
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, we 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 us, and it works great for our Sellers. We say at One Percent Realty, the more deals we do, the more money we are saving our clients!
Will Other Agents Show My Home?
Yes, our MLS® listings are shown and sold by other agents all the time. Statistics show that over 70% of our listing sales are sold by cooperating REALTORS® representing the Buyer, which is in-line with industry standards. That is the proof that our system works great. Why is that? We believe it is two reasons. Firstly, our listings (under $600,000) typically offer $3,000 commission to Cooperating Brokers. While $3,000 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. 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 and 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 house, call your regular agent that you used last time, but this time also call us to compare our services and commission rates. Being full service agents, our agents provide free no obligation market evaluations just like the other guys. Please don’t let someone else tell you about our system, let us tell you exactly what we will do to sell your home. You and your hard earned equity will be glad you did.