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It's only June and ComFree would already like to say thank you! Since our launch in early January, homeowners in the Lower Mainland have responded positively to ComFree, just as homeowners like you did in Winnipeg and Edmonton when we first entered their markets.
And it's our opinion that ComFree will attract an appreciable market share from the commissioned real estate industry in B.C., just as we have elsewhere. This means that 15 to 30% of homeowners in the Lower Mainland will eventually choose to sell privately, for the simple reason that it just makes so much sense to you.
As an example of things to come, ComFree in Edmonton just listed 1,212 homes in May and has more than 30% of the homes for sale in Edmonton’s booming market. ComFree has helped homeowners save $34,400,000 in real estate commissions since January. That's an average saving of more than $15,000.
Edmonton homesellers finally have what ComFree gave Winnipeg homeowners 11 years ago -- an effective, money-saving alternative to the commissioned real estate system.
However, giving homeowners this liberating alternative to commissioned agents doesn't happen overnight. On average, it takes several years to achieve.
But do you think the Lower Mainland should have to wait years to be free of the real estate boards' self-serving cartel?...We don’t think so either.
This is especially apparent when you examine how much housing here has appreciated over the past five years and the resulting automatic pay increases agents have enjoyed with it.
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The average price of a detached home in the Greater Vancouver area has surpassed $700,000, a 94.80% increase over the $365,000 average of five years ago. Since an agent's standard commission is 7% on the first $100,000 and 2.5% on the rest, the homeowner of an average detached home now pays an agent $22,000 in commission: A 61.47% salary increase over the already generous $13,625 fee paid five years ago, and for doing no more work. Have you had a 61% raise over the past five years?
Many B.C. residents recently expressed shocked and anger when B.C. MLAs received a 29% pay increase after 10 years without a raise. So how does it make you feel knowing that agents got more than double that in half the time?
ComFree thinks real estate agents need a little good old competition. And you need an alternative marketplace, just like homeowners in Winnipeg and Edmonton have.
That's why we're going to begin offering our services for only $99! That's correct. We're going to let the Lower Mainland try our services for a fraction of our normal fee so you can see for yourself that our marketplace and advertising work here too, virtually risk-free.
That's less than two tickets to a Canucks game or dinner for two with a bottle of wine.
For only $99 you'll be able to find out what thousands of ComFree clients have already determined -- selling privately will work and it will save you thousands in real estate commission.
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