Real Estate

Lower your Listing/Selling Fees - Use Flat Rate MLS

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Deal Fanatic
Jul 3, 2011
5328 posts
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Thornhill
michty6 wrote:
May 31st, 2014 10:40 am
Cool this is really interesting back-ground. Looks like the profession sold out - lower the standards and let more people become realtors = more in license fees for them.
I assumed someone would jump to that conclusion.

The study was commissioned by Shridan Scott and the Competition Bureau. It can be found online by doing a search for Self Regulated professions – Balancing competition and regulation.

The very same people that some of the public look to for opening up the MLS system are the very same people responsible for the lowering of the entry requirements which the same public criticizes.

And by the way, if you should read the study and Commissioner Scott's report do note the Copyright requirement. The irony.
[OP]
Deal Guru
Aug 2, 2010
14309 posts
4180 upvotes
Here 'n There
Licenced: Your and Donnie740's incessant chatter about all things other than the topic of my post #1 'How to lower your Real Estate Agent Transaction Fees' is really getting tiresome.

What has your miscalculation of the amount of work Captain_Ron5 does have to do with the fact that you are all still struggling to come up with even one item to add to my marketing plan? I guess it takes away the focus from the fact you have been unable to.
Banned
May 7, 2014
188 posts
25 upvotes
Westmount, QC
licenced wrote:
May 31st, 2014 12:35 pm
I assumed someone would jump to that conclusion.

The study was commissioned by Shridan Scott and the Competition Bureau. It can be found online by doing a search for Self Regulated professions – Balancing competition and regulation.

The very same people that some of the public look to for opening up the MLS system are the very same people responsible for the lowering of the entry requirements which the same public criticizes.

And by the way, if you should read the study and Commissioner Scott's report do note the Copyright requirement. The irony.
Apparently it bothers you a lot that MLS will be open
Banned
May 7, 2014
188 posts
25 upvotes
Westmount, QC
eonibm wrote:
May 31st, 2014 1:01 pm
Licenced: Your and Donnie740's incessant chatter about all things other than the topic of my post #1 'How to lower your Real Estate Agent Transaction Fees' is really getting tiresome.

What has your miscalculation of the amount of work Captain_Ron5 does have to do with the fact that you are all still struggling to come up with even one item to add to my marketing plan? I guess it takes away the focus from the fact you have been unable to.
You will never get an answer from these two.
So far they have muted any voice that speaked against real estate
They systematically block and derail threads.

Just look at how dedicated licensed is when it comes to digging others' past!
I wonder who is paying her hours wasted this way. She is very keen at counting others' hours but just look how much energy she can spend on a matter like this.
[OP]
Deal Guru
Aug 2, 2010
14309 posts
4180 upvotes
Here 'n There
MindGamer wrote:
May 31st, 2014 1:26 pm
You will never get an answer from these two.
So far they have muted any voice that speaked against real estate
They systematically block and derail threads.

Just look at how dedicated licensed is when it comes to digging others' past!
I wonder who is paying her hours wasted this way. She is very keen at counting others' hours but just look how much energy she can spend on a matter like this.
No kidding!

But i don't need an answer anymore. Their silence speaks volumes.
Penalty Box
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Aug 19, 2008
1924 posts
497 upvotes
eonibm wrote:
May 31st, 2014 1:01 pm

What has your miscalculation of the amount of work Captain_Ron5 does have to do with the fact that you are all still struggling to come up with even one item to add to my marketing plan? I guess it takes away the focus from the fact you have been unable to.
As I have mentioned to you Mr. RFD Troll it's not that I am unable to. Based on your behaviour in this thread:

I simply don't want to.
[OP]
Deal Guru
Aug 2, 2010
14309 posts
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Here 'n There
I have updated my post #1 How to lower your Real Estate Agent Transaction Fees.

The original steps remain the same but I have added a bit more detail as a result of some of the great feedback on here. Thanks guys!'

Btw, I am going to be adding a section in post #1 that will list real estate agents and brokerages by province that provide flat-rate MLS listings (ie MLS not private listings) as a reference so if you have any that you would like me to add let me know either on here or by PM'ing me.
Penalty Box
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Aug 19, 2008
1924 posts
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eonibm wrote:
May 31st, 2014 4:28 pm
I have updated my post #1 How to lower your Real Estate Agent Transaction Fees.

The original steps remain the same but I have added a bit more detail as a result of some of the great feedback on here. Thanks guys!'

Btw, I am going to be adding a section in post #1 that will list real estate agents and brokerages by province that provide flat-rate MLS listings (ie MLS not private listings) as a reference so if you have any that you would like me to add let me know either on here or by PM'ing me.

Why put all this time and effort into a real estate "marketing plan" but not bother to get your real estate licence and start making some actual money?

Sure beats spending the next decade working for minimum wage like that "woe-is-me" cry for sympathy thread.

living-paying-off-school-loans-minimum-wage-1486842/
Deal Addict
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May 6, 2010
2615 posts
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Markham
Donnie740 wrote:
May 31st, 2014 6:53 pm
Why put all this time and effort into a real estate "marketing plan" but not bother to get your real estate licence and start making some actual money?

Sure beats spending the next decade working for minimum wage like that "woe-is-me" cry for sympathy thread.

living-paying-off-school-loans-minimum-wage-1486842/
It's a good thing that OP didn't put all the time and effort into prostitution "marketing plan". I'd assume that you would ask her to go down Parkdale and start making actual money.
Jr. Member
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May 18, 2008
185 posts
68 upvotes
Victoria
licenced wrote:
May 31st, 2014 12:29 pm
What is responsible for the average number of hours per sale quadrupling?

What changed your mind about pricing levels?
i/ Buyers eat up most of my time. Listings in Victoria are relatively easy as we have a lockbox system. There is a reason, for example, why my mere posting is $799 + $699 and why my buyer end minimum is $6,750 (or whatever is offered if less than $6,750). Four years into my business and I am fine tuning my system but the majority of my income is from buyers as that is where the majority of my time is spent, not listings. I stand by what I said 4 years ago regarding listings. It could be a few hours off but not by much.

Problem is many listings don't sell, but that is my problem, not the sellers' problem. If I am willing to take on two listings and one doesn't sell and the other takes me 10 hours to sell I can't justify that the average is 20 hours to sell a property. I didn't make the right business choice taking on the listing that didn't sell. Anyway, that is my take on it.

ii/ I changed my pricing levels because I could. I went from 28 sales to 47 to 73 to on space for over 80-90 sales this year. Do I think I am worth $250,000-$300,000/year? No, but I run a business and every year I change my pricing levels to increase sales and profits. When my sales starting dipping maybe I'll have to correct. If another player aggressively enters my market with mere postings or cash back to buyers while offering equivalent service, I'll have to adapt and lower my pricing levels. It’s important to be flexible in pricing levels and to adapt to the market environment, aka competition, and the consumer.
Marko Juras, REALTOR® & Associate Broker @ Fair Realty, Victoria, BC - "I believe in a competitive marketplace and real estate commissions should be no exception."
Deal Addict
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May 6, 2010
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Markham
Donnie740 wrote:
May 31st, 2014 11:32 am

In a market where the average SFH is $650k, when you're closing 90 deals to bring in $300k that's an average of $3,300/deal. A full service realtor at 2.5% commission closing 19 deals will bring in $308k. That's an average of $16,250/deal.

I can only speak for myself but I'll always prefer to close one deal for $16,250 than close five deals for $3,300.

You'll never find a single person who would "embrace" the suggestion of having their hourly wages cut in half and their work week doubled. I'm no different. And that's why I have ZERO interest in a low margin high volume business model.
I hope the math is better than the other thread, re: $15,000 loan with monthly payment of only $15 per month.
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Nov 19, 2004
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Cambridge, ON
licenced wrote:
May 31st, 2014 12:29 pm


What is responsible for the average number of hours per sale quadrupling?

---------



What changed your mind about pricing levels?
I've only skimmed the thread but the gist of it is obvious. You have certain Realtors trying desperately to protect their commission while another Realtor is actually working to earn the living.

I can't speak for Ron's past quotes and business model but surely one house requiring only 10 hours of work doesn't mean that all do. I think most understand that one house can sell in a day with little effort while other homes will take more.

As for business model, it seems Ron has been evolving his business model to produce a successful business for himself. Perhaps if more Realtors would evaluate their business models regularly they would have more success . It seems that part of the problem with so many Realtors is that they continue to hang on to an old model that just doesn't make sense for today. I applaud Ron for evolving his model.
[OP]
Deal Guru
Aug 2, 2010
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Here 'n There
don242 wrote:
May 31st, 2014 7:41 pm
I've only skimmed the thread but the gist of it is obvious. You have certain Realtors trying desperately to protect their commission while another Realtor is actually working to earn the living.

I can't speak for Ron's past quotes and business model but surely one house requiring only 10 hours of work doesn't mean that all do. I think most understand that one house can sell in a day with little effort while other homes will take more.

As for business model, it seems Ron has been evolving his business model to produce a successful business for himself. Perhaps if more Realtors would evaluate their business models regularly they would have more success . It seems that part of the problem with so many Realtors is that they continue to hang on to an old model that just doesn't make sense for today. I applaud Ron for evolving his model.
Yes I applaud Ron too. He is obviously a great business man and one that is not stuck in any ancient way of doing business. I wonder if there are any like him in Toronto. He identifies himself, is transparent, even tells you how much he is making, answers questions completely and logically and is not afraid to defend and explain himself. A lot more than I can say for the other real estate agents that have posted on here who have contributed absolutely nothing in terms of information that has any relevance to the topic of this thread.
Banned
May 7, 2014
188 posts
25 upvotes
Westmount, QC
eonibm wrote:
May 31st, 2014 8:43 pm
Yes I applaud Ron too. He is obviously a great business man and one that is not stuck in any ancient way of doing business. I wonder if there are any like him in Toronto. He identifies himself, is transparent, even tells you how much he is making, answers questions completely and logically and is not afraid to defend and explain himself. A lot more than I can say for the other real estate agents that have posted on here who have contributed absolutely nothing in terms of information that has any relevance to the topic of this thread.
Guys don't worry this is swan's song for this type of real estate agents.
Soon the Competition Bureau will win the process against TREB and MLS will be open.
Then people like Ron will be completely prepared while Donnies and licenceds will sink!
They are desperate.
Penalty Box
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Aug 19, 2008
1924 posts
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Captain_Ron5 wrote:
May 31st, 2014 7:29 pm
Problem is many listings don't sell, but that is my problem, not the sellers' problem.
Except that the seller paid you upfront. And now they're sitting with an unsold property and $800 LESS in their pocket. I'd say that's problematic for the seller. You've already collected the majority of your commission just by listing the property. In comparison to a "typical" full service realtor who gets paid after delivering results - - ie. getting the property sold.

Captain_Ron5 wrote:
May 31st, 2014 7:29 pm
If another player aggressively enters my market with mere postings or cash back to buyers while offering equivalent service, I'll have to adapt and lower my pricing levels.
And therein lies the problem with trying to compete on price with a low margin high volume business model. You're offering to give away 50% of your earnings now. What happens when "Captain John" comes along offering to give away 60% of his earnings? And then "Captain Shawn" figures he'll go one better and give away 75% of his earnings?

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