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Realty rebels merge to grab bigger stake
The fight for real estate commissions is about to heat up, as two of the industry's biggest agitators join forces in an attempt to steal market share from the country's 100,000 real estate agents.
Propertyguys.com Inc., a company that helps people sell their own homes, will merge with flat-fee brokerage Realtysellers Real Estate Inc. The deal that will make it easier for those who want to handle their own transactions get their properties on the popular Realtor.ca website, which provides the online listings for an estimated 90 per cent of the country's home sales.
The two companies decided to merge after the Competition Bureau and Canadian Real Estate Association changed the rules to allow flat-fee listings to appear on the Multiple Listing Service, if they are posted by a licensed brokerage. Previously, anyone who had a listing on the MLS had to employ an agent to handle every component of a transaction, whether they wanted those services or not, normally for a fee of 4 to 5 per cent of the sale price of a home. At an average price of At an average price of $376,817 that means a commission of up to $18,840.
Read the full article here.
The fight for real estate commissions is about to heat up, as two of the industry's biggest agitators join forces in an attempt to steal market share from the country's 100,000 real estate agents.
Propertyguys.com Inc., a company that helps people sell their own homes, will merge with flat-fee brokerage Realtysellers Real Estate Inc. The deal that will make it easier for those who want to handle their own transactions get their properties on the popular Realtor.ca website, which provides the online listings for an estimated 90 per cent of the country's home sales.
The two companies decided to merge after the Competition Bureau and Canadian Real Estate Association changed the rules to allow flat-fee listings to appear on the Multiple Listing Service, if they are posted by a licensed brokerage. Previously, anyone who had a listing on the MLS had to employ an agent to handle every component of a transaction, whether they wanted those services or not, normally for a fee of 4 to 5 per cent of the sale price of a home. At an average price of At an average price of $376,817 that means a commission of up to $18,840.
Read the full article here.