New poll findings show that Canadians have mixed feelings on maximizing
TORONTO, Jan. 31, 2012 /CNW/ - ComFree, the largest commission-free real estate network in Canada, today
released findings from a survey showing that 58 per cent of Canadians
polled would rather make a purchase from someone who is not working on commission. Nearly one quarter (22 per cent) of Canadians
strongly agree with this sentiment. The findings were announced today
together with the launch of two new commission free brokerages
operating in Ontario and Alberta under the name of Commonsense Network
Brokerage, part of the ComFree Network.
"Twenty years ago you had to use a broker to purchase and sell stocks,
but advances in technology and information has made it possible for
Canadians to do it themselves with support and no longer require that
intermediary - the same is now true of buying or selling a home," said
Patrick Sullivan, general manager and vice-president of ComFree. "At
the end of the day, home-owners who sell commission free have more
money in their pocket."
Benefits of the New Brokerage Service
"It is common sense that homeowners should be in the driver's seat when
it comes time to selling their own home," said Sullivan. "The
Commonsense Network Brokerage allows homeowners to keep the full amount
of the sale of their home, while providing support with the marketing,
legal and administrative aspects of the home sale - all of which helps
to put the power into the hands of homeowners so they remain in control
of the sale."
The change allows customers to continue to have their properties appear
on the ComFree Network website, but also enables them to list their
homes on REALTOR.ca, through a board's MLS® system, via the Commonsense
Network Brokerage in both Ontario and Alberta, thereby providing the
greatest visibility in the industry by posting on the two most visited
Canadian real estate websites1.
It also removes the barriers to commission free home sales, allowing
customers to access a full suite of owner-directed services including
advice on appraisals.
It's Not Just a Game Show - Get the Price Right for your Home
Getting the price right is the single most important aspect of a
successful home sale, and there are a number of tools available at
ComFree that can help with comparative pricing, marketing and industry
information to make informed decisions about buying and selling.
In order to maximize the value of the home, Canadians need to take
advantage of all the innovative tools available, and communicate the
price and information widely. Despite this new era of transparency,
four in ten Canadians (41 per cent) are hesitant to talk about the
value of their home with friends and family. Of these respondents, 34
per cent listed the reason for their secrecy being that it isn't polite
to talk about money, a reason that could very well impact important
negotiations without the right advice.
According to financial expert and author, Lesley Scorgie, keeping quiet
about one's financial situation will only work against Canadians.
"In order for Canadians to achieve their financial goals and make smart
choices around homeownership - both buying and selling - they need to
be honest with themselves and others," said Scorgie. "Once we begin to
open up about our finances overall, we can be more realistic about what
makes sense for our individuals goals."
Additional recommendations from Scorgie:
Top 3 ways to save when selling a home - smart pricing, effective
negotiations and considering commission free.
Top 3 ways to save money when buying a home - recognizing value, buying
within your means, using a broker for the mortgage.
Do your research - for a transaction as large as home, sellers and
buyers alike must be informed and seek information from qualified
sources. No matter who you're working with, some research should always
be conducted independently.
Avoid becoming house-poor by re-prioritizing your expenses - pay
attention to the little things such as your daily specialty coffee.
Omitting one of those every day could add up to $15,000 over 13 years.
Politeness has no place in personal finance - let's lose the stereotype
Canadians are sometimes known for when it comes to money matters.
Other Survey Highlights
Manners matter most in BC and Ontario - British Columbians and Ontarians
were more likely (44 per cent and 40 per cent, respectively) to say
that it isn't polite to talk about finances.
It's none of your business - Three in ten (30 per cent) of respondents
said they did not want others to know that their financial situation
because it may not be as strong as perceived while a quarter (26 per
cent) indicated it was because their finances may be stronger than
others may have thought.
For more information on ComFree and to view an infographic depicting
what Canadians could purchase with the amount of money saved by not
paying commission on a home sale please visit www.ComFree.com/commonsense.
About the Research
The ComFree study was conducted by Harris/Decima from December 8th through December 18th 2011 via teleVox, the company's national telephone omnibus survey. A
total of 2,011 Canadians were surveyed, of which 1,477 are homeowners.
A sample of this size has a margin of error of +/- 2.2 per cent and 2.5
per cent respectively, 19 times out of 20.
About the ComFree Network
ComFree offers Canadian homeowners a professional, honest and innovative
service to assist them through the sale of their property, so they can
do it in a smart, effective and profitable way.
Since its initial launch in 1997, more than 100,000 homes have been sold
through the ComFree Network, saving Canadians $1.5 billion in
commissions. Starting in January 2012, the Commonsense Network
brokerages will be hosted on ComFree's website in Ontario and Alberta.
Today, ComFree.com lists more than 14,000 properties for sale, and the website receives more than 3 million visits monthly. With
offices in Ontario, Quebec, Alberta, Manitoba and Saskatchewan, the
ComFree network employs more than 220 people across Canada.
1 Traffic source : http://www.hitwise.com/ca/datacenter/main/dashboard-10557.html
SOURCE ComFree Network
For further information:
To arrange an interview or for more information, contact:
Vanessa Ciccone or Amy Greenshields
firstname.lastname@example.org or email@example.com