In 2013 there were approximately 80 mere postings listed in with the Victoria Real Estate Board, for 2014 that number will be approximately 90 mere postings. Personally, I’ve doubled my mere posting sales year over year and hope to continue the trend in 2015.
96% plus more of the time the cooperating commission offered is 3.0%100k+1.5%balance, or more!
Engineering, Home Protection Office, municipal requirements, and more have made new home construction a lot more expensive than in the past.
Raw numbers indicate that more than 90% of the time a buyer’s REALTOR® represents the buyer on a purchase; therefore, why are many sellers paying the listing REALTOR® half of the commission if numbers show the REALTORS® listing very rarely actually sell the property themselves? Food for thought.
If you bought a home in Victoria seven years ago it’s probably worth a similar amount plus or minus a few percent. If you bought a home in Toronto seven years ago you are up approximately 45% and Vancouver up 25%. However, if you are buying now into the Victoria market the flatness and underperformance of our market is not necessarily a bad thing in my opinion.
Ben sold his Central Park town home in a very difficult market. When compared to a commission of 6%100k + 3.0%balance he saved over $5,000 of his hard earned equity! Below is what Ben had say about his experience selling with a Flat Fee MLS® (Mere Posting) package.
It seems people find losing money on real estate difficult to grasp, while losing money on other type of assets such as cars seems perfect acceptable.
Watch the video for a real life examples of returns on units currently being rented at the Bayview Promontory, 83 Saghalie Road, Victoria, BC.
I personally just bought a condo at the Era!