The Real Estate Listing Company That Charges No Commission
Purplebricks is an online realtor that has been available to those selling and buying homes in the UK since 2012. Last year, they purchased the similar Canadian commission-free online realtor Dupropio/ComFree Network (DPCF) and have since been operating across Canada.
Those selling their homes can pay an upfront fee to use this service where they can list their property and arrange viewings. Eradicating the need for a realtor means that property owners can avoid having to pay commissions.
This type of service is reasonably new to Canada so currently only holds 2.3% of the real estate market in Western Canada. DPCF is, however, already widely used across Quebec where it has 20% of the province’s real estate market. Canada is long used to automatically seeking out their local realtor when selling property but these types of services may well grow in popularity.
If you decide to use on online realtor there are some important things to remember.
1. If you are not comfortable doing property viewings with prospective buyers yourself, you may need to pay an extra fee for one of the online realtor’s agents to do them.
2. They may provide access to a real estate lawyer or notary, however it may be at a premium, and you may not get to meet them in person. There is no harm in using an online service, plus a separate lawyer or notary public. Our real estate notaries and lawyers are well versed in both Vancouver real estate and these types of online realtors, and so are able to help you complete all the necessary documents to ensure a swift, and legal, sale.
Not having to account for final realtor commissions during a sale can be a real draw for many people looking into services like DPCF’s. Our notaries and lawyers work with many real estate clients who get to avoid paying realtor commissions, as well as the GST that is also payable on seller commissions.
If you are about to sell your property and are looking for some general legal advice, or simply for a real estate lawyer or notary who can quickly help you through the conveyancing process, contact our real estate notary and legal office, or email [email protected] to schedule an appointment.