The Truth About Greater Victoria Real Estate Commissions

By
Real Estate Agent with 1 PERCENT REALTY, Victoria BC www.1percentrealtyvictoria.com

Truth about Real Estate CommissionsThe Truth About Greater Victoria Real Estate Commissions

  • The Average Sale price of a home in Victoria in 1988 was $ 127,888 and when sold a total commission of $ 8,115. was payable (based on what was then the norm 7% over the First $ 100,000 and 4% on the balance of the sale price (there was no GST or HST in those days nor were there property transfer taxes to the levels of today .
  • The Average Sale Price of a Home in Victoria today is $ 606,9000 and when sold a commission of $ 21,207 is payable plus HST of 12 % for a total of $23,751, based on 6% over the first $ 100,000 plus 3 % over the balance of the sale price.
  • Which is a nearly 300% increase in commission payable over the past 34 years. Last time I checked, pretty sure that there are only a few people that have seen pay increases like that in their career.
  • Yes we all would like to earn more, but let’s be fair, with all the technology and much improved ability to reach potential buyers in just about any corner of the world nearly instantaneous, the costs and expenses of the real estate industry have in fact increased only moderately.

The real problem in the Victoria real estate industry is that there are too many Realtors (approx.1,250   & many part-timers) with an average of fewer than 5 sales per agent per year, while nearly 50 % of the Greater Victoria homes do not sell and as such are a drain the resources of agents to market their listings in the right places consistently and competitively.

Basically forcing the actual buyers & sellers to pay for those that did not sell.....

With our Pfanntastic Pay-Less Real Estate Results Systems we make it possible for you to price your property just a little more competitive (and be more appealing to the current buyers) while still netting more and come out ahead financially and receive Pfanntastic Service and Results  

  • On our Pfanntastic 1% Pay-less MLS® Program, you pay $ 6,500 on completion of the sale (this includes a small initial $ 500. Processing and administration fee). Paying $ 14,707 less For Pfanntastic Results (compared to traditional fees on an average home in Victoria ……  )
  • On our Pfanntastic 2% Pay-less MLS® Program, you would pay $ 12,120, on completion of the sale Paying $ 9,087 less for Pfanntastic Results.(compared to traditional fees on an average home in Victoria …… )  
  • In addition When Buyers buy Your home directly with our assistance, we don't pocet the extra commission but give Nearly half of the total commission to the Buyers, as an incentive to buy your home and everybody wins…… 

 

Now that is what we call Pfanntastic.

Talk To Peter and Pay-Less For Pfanntastic Greater Victoria Real Estate Results Too.

Email us to receive the complete report (16 pages) and know the truth about Victoria Real Estate Commissions


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Topic:
Real Estate Industry
Location:
British Columbia Capital Area Victoria Greater Victoria
Groups:
Posts to Localism
Best Business Practices
Almost Anything Goes
Tags:
save on commissions
payless realty
commissions
victoria real estate

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Ambassador
1,062,555
Joni Staples
Your Huntsville / Lake Livingston Area REALTOR®
Berkshire Hathaway Home Services - Anderson Properties

I really like the bright colors, but miss seeing your and Linda's beautiful smiles!!  Just sayin'..... ♥

July 11, 2012 02:44 PM
Rainmaker
465,747
Cindy Westfall
ABR,GRI Your Tualatin & Portland Metro Real Estate
Premiere Property Group,LLC Portland Metro & Suburbs Oregon

Hi Peter and Linda, I'm with Joni on missing seeing your faces, but sure looks like you have been working hard on all your changes....and major changes for sure. Anyone working with you should know that they are getting Pfanntastic full service whatever they decide to pay!

July 11, 2012 09:07 PM
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525,419
Peter Pfann @ 1 Percent Realty Victoria, and Pay-Less For Victoria Real Estate Results!
Talk To Peter 250-213-9490 www.pay-lessrealty.com
1 PERCENT REALTY, Victoria BC www.1percentrealtyvictoria.com

HI Ladies,

 thank you for your kind words, as you may have noticed Linda is working with me as assistant and we have made so many changed that we we decided to focus on offering quality service at the best possible value.

 

July 12, 2012 05:54 AM
Ambassador
1,062,555
Joni Staples
Your Huntsville / Lake Livingston Area REALTOR®
Berkshire Hathaway Home Services - Anderson Properties

Your quality of service has never been a doubt in my mind. You two are my Pfavorite, for sure!!

July 12, 2012 09:35 AM
Ambassador
525,419
Peter Pfann @ 1 Percent Realty Victoria, and Pay-Less For Victoria Real Estate Results!
Talk To Peter 250-213-9490 www.pay-lessrealty.com
1 PERCENT REALTY, Victoria BC www.1percentrealtyvictoria.com

HI Joni,

Thanks

  As we are just such a small part in all the activities and workings to make a successful sale or purchase come together, I decided that we would remove much of the personal pictures for now and let the business and the new pay-less real estate services tell the real story how people will receive quality service and save lots of money for now.

July 12, 2012 12:47 PM
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Peter Pfann @ 1 Percent Realty Victoria, and Pay-Less For Victoria Real Estate Results!

Talk To Peter 250-213-9490 www.pay-lessrealty.com
Learn How Much You'll Save Buying & or Selling
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