About 2 weeks ago, someone mentioned ComFree to me. I felt obliged to evaluate their website and found nothing that significantly differentiates them from all the other FSBO sites out there. They offer website listings, publish a magazine of their listings every 3 weeks, and provide marketing packages for homeowners that include brochures and signage. But about a week ago, I saw my first ComFree television commercial. During the past week I noticed billboard advertising across the city and heard multiple radio ads as well. ComFree is obviously well-funded to market in such a traditional and cost-ineffective way, but it may be the tipping point that differentiates them from all the other companies that offer similar services.
A good realtor is well worth the commissions that they earn. They carry a large overhead and spend hundreds, if not thousands of dollars marketing listings. There is no guarantee of any compensation for an agent if a home does not sell. But still there exists a public perception that many real estate agents are overpaid for the service they provide. Perhaps it is too easy to become a realtor. Definitely, not all agents fall into that “good” category either, but that can be said of any profession.
Will Comfree acquire a significant portion of the Real Estate Market here in Vancouver? They currently have 9 listings on their website. They have a long way to go. But they claim to have one third of the market in Edmonton and a 15% share in Winnipeg. I will wait and see how events play themselves out, but for anyone connected to the real estate industry here in Vancouver, it is worth watching.