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One Percent Guys are excited to announce the Toronto real estate market has experienced a growth in sales prices in 2014. “Sales figures increased 6.7 percent over 2013 and was just slightly under the 2007 record,” according to Toronto Release Estate Board President Paul Etherington. The growth is expected to continue through 2015 due to a shift in the market where there is currently a listing shortage of properties for sale in the Greater Toronto Area. This has created a sellers’ market and results in home sellers being able to receive original listing prices or even more, by placing potential buyers into bidding wars for the property.The number of people looking for properties to buy in the GTA has grown in 2014 and continues to grow in 2015. As rental rates continue to increase, people are looking to buy homes as a means to have fixed monthly payments and not worry about increases in monthly housing costs. However, the number of properties being listed for sale has not grown and has actually decreased in recent month. The number of listings prospective buyers could choose from in December 2014 was down 10.4% from the previous year based upon information compiled by the Toronto Real Estate Board.
According to One Percent Guys owner and Royal LePage Kingsbury Realty real estate agent, Andrew Doumont, “Anytime there is a sellers’ market it results in higher competition between prospective buyers. Buyers start to become aggressive in their offer prices because they want to purchase the home.” Mr. Doumont has noticed bidding wars between interested buyers for several of the properties where he was representing sellers as their listing agent. This results in sellers being able to consider more offers on their homes and choose the highest offer price. As such, sellers are experiencing higher returns from the sales proceeds.
The average number of days a property stays on the market has also declined throughout 2014. In December, the average time a home remained for sale was 32 days with an average selling price of $362,758 for properties in the GTA based upon information prepared by Royal LePage Kingsbury Realty. “For people considering selling their homes in the GTA, now is the time to list them on the market for the best return and maximum sales prices,” states Mr. Doumont. The real estate market is constantly shifting and changing. If someone waits too long to sell their home, there is a risk the market conditions could revert back to a buyers’ market, where there are more homes for sale in the area than potential buyers.
With an increase in sales prices, home sellers need to be aware of increased sales commissions real estate agents receive. Most agents charge a percentage of the sales price for their commission which covers their time to assist the seller in making the property ready for listing, conducting open houses, preparing and reviewing purchase agreements, meeting with lawyers, and other such aspects required to sell a home. Sellers looking for the lowest commission rate will find it at One Percent Guys where they only charge a one percent rate. In addition to the listing agent’s commission, sellers are normally required to pay the buyer’s agent’s commission. The current market rate is 2.5 percent of the sales price.
Many people wonder why One Percent Guys would list homes in the GTA and only charge a one percent commission rate. “It is not just about offering sellers a one percent rate, but on building future business through customer satisfaction and referrals. The idea behind this philosophy is to sell more homes rather than fewer homes at a higher commission rate,” states Andrew Doumont. He goes on to say, “Prospective sellers often wonder what the catch is with the one percent rate. There is no catch, nor are there any upfront fees. All fees (lawyer, commission, HST, and so on) are paid after the sales transaction is finalized. All properties are professionally listed using a wide range of selling techniques to attract the most potential buyers.”
For more information about One Percent Guys, visit their website at www.onepercentguys.ca or contact them by phone at 416-568-2121 with any home buying or selling questions in the GTA.
About One Percent Guys
OnePercentGuys was founded by Andrew Doumont with the sole purpose to provide people a one percent commission rate. Mr. Doumont has numerous years of experience working in the real estate market and is currently employed by Royal LePage Kingsbury Realty, one of the leading Greater Toronto Area real estate brokerages. One Percent Guys use a variety of listing methods to help sellers find and attract buyers. The company prepares a professional media presentation for use online and offline, conducts a staging consultation to prepare the home for showing, features the listing on numerous websites, social medial sites, and local real estate publications, and schedules open houses.
Contact Info:
Name: Andrew Doumont
Email: Send Email
Organization: One Percent Guys
Address: 20 Stewart St Toronto, ON M5V 1H6
Phone: 416-458-9252
Website: http://www.onepercentguys.ca/
Release ID: 78096
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