Eliminating the high commissions on the sale of your home may seem too good to be true, but it’s something One Percent Realty has been doing for 16 years.
In 1999, the full-service discount real estate company saw an opening for its services for people who value the role of a real estate agent but don’t want to pay high commissions on the sale of their home.
“We’re providing exactly the same services as a traditional real estate agent,” says Nari Thiara, a Richmond Realtor® with One Percent Realty. “But we’re doing so at a fraction of the cost.”
According to Nari, the model works because of the way people now look for homes. Thanks to the Internet, the public now has access to the complete MLS®database of listings and they are more inclined to drive around their chosen neighbourhoods on their own.
In today’s technology-centric world, homebuyers working with a Realtor® also use automated notification systems, where they receive any new relevant listings on a daily basis, based on their preferences.
“Our listings are right there with all the others and our signs are out front of the properties we represent,” says Nari, who works primarily in Richmond, but also in its surrounding area. “It’s impossible not to know that properties are for sale if you’re looking.”
Nari’s statement answers one of the primary concerns home sellers have when using One Percent Realty: because a lower commission for the seller’s agent also means a lower commission to the buyer’s agent, does this mean that buyers’ agents are less willing to show a home represented by One Percent Realty?
According to Nari, since buyers have access to complete listings online, they know if they aren’t being shown a home and will ask their agent why not. In its 16 years, says Nari, One Percent Realty hasn’t found agents less willing to show their listings.
Like traditional real estate agents, One Percent Realty also holds open houses, advertises listings, and handles all the showings and negotiations.