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Discount realties race against Rogers

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Guest | 30 May 2013, 06:00 AM Agree 0

"I am pleased to see that finally an organization such as Rogers Communications/Zoocasa sees the value in providing the Canadian public with an alternative real estate service similar to (ours),” writes Real Estate Members Savings (REMS) founder Steven DiGiovanni, reacting to Rogers relaunch of the competing Zoocasa website. "A rebate structure similar to that which REMS has been offering for almost a decade is a great bonus, but the main focus of a national real estate program should be the service guarantee."
The press release comes on the heels of Zoocasa’s reintroduction to thee marketplace under its new ownership structure. It also follows news that the Competition Commission will continue its fight to further liberalize access to the Multiple Listings Service – something discount online realties have long called for.
Still, those players are already actively hawking their wares in the marketplace as sellers look for alternatives to the traditional Realtor model and the standard commissions associated with them.
Rogers ownership of Zoocasa suggests that those websites are digging in, an effort to solidify their client bases and market share. A significant factor may be the slowing real estate market and the waning number of home sales in 9 out of 10 of Canada’s major market.
The growing competition is expected to benefit investors as they take advantage for increasingly generous rebates offered by Zoocasa and others. Still, they’re also likely to see more of the standard features of the traditional realty thrown in for good measure.
  • Jeff Gingerich | 30 May 2013, 09:03 PM Agree 0
    Discount realtors thrive in a "hot" market. When the market cools, consumers will seek out and pay for quality service. Commissions went up not down during the recession in the U.S.
  • Al Reardon | 06 Jun 2013, 10:36 PM Agree 0
    Jeff, while I agree with your statement, commissions only went up during the US recession due to bank's using these realtors. We could talk about the advantages and disadvantages of "quality service" realtors until the cows come home, but realtors can spin the facts however they wish. (As stated by Jeff previously)
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