Thank you for your prompt reply. Not all that cheaply though as it's (1) at least $500 in total I think, and "out of pocket" (not contingent on 'results'), which is ten times the corresponding MLS listing fee paid to the VREB.
(2) Are vendors who use such an approach obliged to 'cooperate' (provide a 'selling' commission') with buyers' agents? (3) Can the public contact the vendors directly (and not have to 'go through' the nominal 'listing broker')? To help clarify that process (4) Is there one example listing by a vendor using this that you'd care to post here?
The concept should help keep MLS stats more inclusive (though it doesn't tackle the varying Exclusive listing component, at times that's been a quite respectable proportion of the activity). (5) Is there a figure on how many VREB MLS listings are of this character?
1. For mere postings I personally charge $799 upfront and $699 on the back end and I don't get excited about doing mere postings. I primarily use them to source buyers (i.e. individual sells home with mere posting, is happy with the service, and uses me to buy a home subsequently). The MLS® fee is $50 to list and $50 when it sells. What about my $110 monthly VREB fees? My brokerage taking $250 upfront and $100 on the back end for mere postings? My monthly brokerage fee? My lockbox fees (which I provide with a mere posting)? And there are many more various fees you can't see embedded in it all. There is a reason that locally less than a handful of REALTORS® offer mere postings. Also, mere postings are never a true mere posting. People always call me asking for help and questions and modifications to the listing multiple times through the course of it all.
2. Yes, you have to provide a minimum cooperating broker fee of $1.00 (one dollar).
3. Not directly through realtor.ca, but on my website I place the vendors direct contact information. Those contacting through realtor.ca I forward the vendor the email.
4. I have video testimonials on my website with real Victoria sellers (scroll to bottom) -> http://markojuras.com/799-flat-fee/
I would say definitely the exclusive contracts are less than 1% of all sales. I've tried exclusives before = 99% waste of time.
I would just like to add that Victoria is too small of a market to scale mere postings. There aren't enough mere postings to keep one individual or company fully employed doing mere postings. In cities like Vancouver and Toronto you can use economies of scale to offer cheaper mere posting services.
Edited by MarkoJ, 04 March 2014 - 08:31 AM.