Real Estate

Anyone use comfree lately?

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  • Aug 13th, 2017 12:42 pm
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[OP]
Deal Addict
Feb 16, 2008
1159 posts
230 upvotes

Anyone use comfree lately?

I was thinking of using their buying and selling service. Anybody use them recently?
46 replies
Deal Fanatic
May 29, 2006
8474 posts
1403 upvotes
not recently, but the problem we had with comfree 5 years ago, is that if your place doesnt sell, you lose the payment that you paid to them. plus we got a lot of realters calling saying they had people in mind for the place, and can they take the listing, even when we said no realtors in the ad.

this may have all changed in 5 years but that was our experiece, we didnt sell with comfree, lost our (i want to say 800$), and sold a few months later with a realtor.

Also i hated having to be home to visit with potential buyers, with a realtor, i never visisted the house again after i moved. (i carried 2 houses for a while)
Deal Addict
Dec 28, 2002
2766 posts
235 upvotes
i am interested to know some buyer's experience with their buying service. it seems a great deal
Deal Fanatic
Jul 30, 2003
5064 posts
211 upvotes
Toronto
I know of a guy who did. Sold his house in a day (technically it was day and half). He sold it for 430k and across from him was a MLS house for 519k (which no one visited, but just makes his house looks cheap - but in reality it was avg priced).

I think it does come down to location. there is a VERY strong demand for semi / detach in decent places of GTA. Everything should sell instantly.
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Deal Addict
Mar 27, 2004
2261 posts
194 upvotes
Toronto
Send me a message. I can help you with your questions.
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Member
Jan 31, 2016
374 posts
89 upvotes
Toronto, ON
IF you are in a hot market like the GTA it may not be beneifical to use Comfree. I was going to use a FSBO but after two years of market research I found I was much better off to list with an agent when the time came. (feel like I wasted alot of time/energy researching)

We had a crazy amount of showings and I believe this is what helped generate the $ we ended up selling for. Had I listed with a FSBO even with offering 2.5% to buyers agent I doubt I would of had close to the amount of interest.

We ended up selling for more then anticipated.

Just an opinion from someone who has no bias, just wanted the most from our sale.
Member
Oct 11, 2007
328 posts
21 upvotes
My observations have been similar. In fact it seems to me 5 years ago more houses were listed with FSBO than today. I've always wondered why the concept of FSBO hasn't picked up? Especially when listing on MLS became an option as well.
Deal Addict
Dec 28, 2002
2766 posts
235 upvotes
condor11 wrote:
Apr 12th, 2016 9:05 am
My observations have been similar. In fact it seems to me 5 years ago more houses were listed with FSBO than today. I've always wondered why the concept of FSBO hasn't picked up? Especially when listing on MLS became an option as well.
i think that's because people come into the play. The buying agent may not be willing to bring client to the listing house or lying about different things to the client.
Member
Jan 31, 2016
374 posts
89 upvotes
Toronto, ON
condor11 wrote:
Apr 12th, 2016 9:05 am
My observations have been similar. In fact it seems to me 5 years ago more houses were listed with FSBO than today. I've always wondered why the concept of FSBO hasn't picked up? Especially when listing on MLS became an option as well.
I basically used the relator to generate a buzz and bring more people into the property. They also facilitated the showings, take pictures, answered questions and coordinated the offers.

You can find a good relator who can handle all the above and for 3% - 3.5% commission total. Trade off was you let them have one open house, no benefit to you, but can help them. If you were to sell FSBO you would have to offer 2.5 % to the buying agent anyways, so for 0.5 -1% more it is a no brainer. Depending on location and market of course. In the GTA more often than not you end up with more than market value and more than cover the 3.5%
[OP]
Deal Addict
Feb 16, 2008
1159 posts
230 upvotes
[QUOTE]IF you are in a hot market like the GTA it may not be beneifical to use Comfree[/QUOTE]

I would think the opposite, my home will basically sell itself, why would I pay a real-estate agent $35k?
Deal Addict
Mar 27, 2004
2261 posts
194 upvotes
Toronto
jg123 wrote:
Apr 12th, 2016 11:59 am
I would think the opposite, my home will basically sell itself, why would I pay a real-estate agent $35k?
The fact is by in large, homes are being sold with agent representation. The market is very hard to gauge right now. You may get some comparables from ComFree, and then get an offer that you think is reasonable, but the reality is right now, from week to week, house prices are going up. There is a reason why people use agents, they are able to deal with the agents on multiple offers, handle your marketing, deal with the showings, etc. Thats just my opinion, obviously I am biased.
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Deal Addict
Jan 18, 2010
1205 posts
82 upvotes
jg123 wrote:
Apr 12th, 2016 11:59 am
I would think the opposite, my home will basically sell itself, why would I pay a real-estate agent $35k?
Drive up price. And if we are talking 35,000 you are at a 1.4 million dollar house assuming you are offering the 2.5% to co-operating agent.

I think doing comfree is God for anyone if they know what they are doing - problem is most people have no idea.
Deal Addict
Dec 21, 2010
1117 posts
301 upvotes
GTA
For what it's worth, I get a handful of clients coming to me every so often with the same question(s) and I've told them that it's their choice either way. But, when pricing out their house, what they need to realize is that they now need to price their house 2.5-5% lower then what the MLS Sales history is showing. Why? Because the market is not buying the commission portion so it doesn't automatically transfer to their pocket.

Is this how people automatically perceive the final price? No. They assume they are selling based on the "market sales". So, as long as you realize that there needs to be a reduction by 2.5-5% to make it a realistic selling price, then go for it.

It's the inflated prices that make us not want to show FSBO's (when they are ridiculously priced).
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Deal Addict
Nov 29, 2007
1121 posts
228 upvotes
I used comfree last year in Milton at the time at the time it was the highest price my model of townhouse had sold in Milton. I watched comparablea for months and comfree gave me the printout of what the comparables had sold for as well there was no need to price it 2.5 percent lower then sales history. Comfree is very easy hardest part is keeping the house clean and being ready do a showing on little notice sometimes
Newbie
Oct 14, 2010
49 posts
18 upvotes
Ottawa, ON
loriblum wrote:
Apr 13th, 2016 6:25 am
For what it's worth, I get a handful of clients coming to me every so often with the same question(s) and I've told them that it's their choice either way. But, when pricing out their house, what they need to realize is that they now need to price their house 2.5-5% lower then what the MLS Sales history is showing. Why? Because the market is not buying the commission portion so it doesn't automatically transfer to their pocket.

Is this how people automatically perceive the final price? No. They assume they are selling based on the "market sales". So, as long as you realize that there needs to be a reduction by 2.5-5% to make it a realistic selling price, then go for it.

It's the inflated prices that make us not want to show FSBO's (when they are ridiculously priced).
That makes no sense.

Let's use a hypothetical. You have 2 identical houses side-by-side. House 1 is being sold using an agent. House 2 is being sold by the owner. You're saying that house 2 should be priced 2.5%-5% lower than house 1 to give it a "realistic selling price"?

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