The Internet Has A Profound Impact On The Real Estate Business

With the internet, buyers and sellers have more access to information and property listings than they ever have before.  The exposure an agent gets from the internet accelerates and shifts the public recognition of the Agent from his or her Brokerage to the the Agent. The internet helps to build the Personal Branding of an Agent.

The costs real estate agents paid to be in business

The real estate industry in Greater Vancouver and Fraser Valley have around 13,000 agents. These agents are paying around $400 to $1,000 monthly admin, desk and franchise fees to their brokerages. With an average number say around $500 a month, these brokerages are collecting around $6.5 million in fees from their agents. The annual fees paid by real estate agents to their brokerages come to around $78.0 million. Find out how one company helps to put this money back into the agents pockets.

They are effectively paying RENT to their brokerages to be in business.

Real Estate For Realtors

Revolutionary new system

A totally new approach to the real estate business is now in place. A no-fee system is available through Team 3000 Realty, a Richmond based real estate brokerage.

This new business system developed by Team 3000 Realty could change the industry the way how 100% commission brokerages changed the real estate business 30 years ago!

The business system from Team 3000 Realty includes the following initiatives:

• The company’s MLS® Search Portal generate leads from home buyers and sellers.
• The company offers to process real estate transactions for real estate agents across British Columbia.
• No admin, desk or Franchise fees payable by for “life-time” members.
• Opportunity to own your real estate business as a “Strategic Partner”.

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The real estate industry before 1978

The real estate brokerages were mostly national and international franchises that offer to train new agents and share 50% of the commission earned by a new agent. Agents who were in the business longer and achieving certain sales volume were paid a higher split. The top producers in the brokerage could keep up to 90% of their real estate commission.

The second wave

The 100% commission brokerages like RE/MAX (since 1978) and Sutton (since 1981) offered a much more attractive deal to the agents compared to the national franchises. The agents who left these traditional franchises were allowed to keep 100% of their commission, but they had to pay a monthly fee from $400 to $800 to be associated with Sutton and RE/MAX.

Within about 10 years, the transformation from split commission arrangement was almost complete. Today, all   national real estate franchises follow the system of the 100% brokerages. They charge a monthly fee to cover expenses for admin, desk, franchise, etc. For new agents who join them, they have to sign a contract whereby they are trained by the brokerages and they also pay 25% of their commission to the brokerages.

The third wave?

Read the next segment… the impact of internet on the real estate business and the third wave that will change how the business is done.

Note: We welcome any feedback on any info here that are deemed in-accurate and need revision. The author is a Strategic Partner of Team 300o Realty

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The real market has turned and it is not going to be business as usual. In fact it will be a lot tougher to maintain your previous years earnings. Judging from the supply of homes and the contract in sales over the past 5 months, the market could be entering a new real estate cycle. The market sentiment has changed, and if by spring next year, home sales are not improving, we could be in for a ride to the downside. Need to cut spending? Find out how.

There are many reasons for the change in market sentiment and why home buyers are staying on the sideline for now. The housing market may not do so well for the next 12 to 24 months as home prices too high to be affordable for the average Canadian families.

Are you prepared for a 30% to 50% drop in your earnings in the next 2 years? Will the housing market be as tough and sales remain at current level? Only time will tell if we are heading for a downturn.

Whatever the outcome, it is good to be prepared and explore your option as how best to work your real estate business. Team 3000 Realty has something to offer to all agents in B.C. Take a look at what we do, and if you like to have more info about us, kindly sent us an email or call James Wong at 604-721-4817 or Louie Pulice at 604-341-0006.

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MLS Protal For Greater Vancouver & Fraser Valley

Team 3000’s MLS portal is disgined for easy search for homes listed for sale on the MLS system. You can use any Search Engines (Google Chrome, Internet Explorer, Fire Fox, or Yahoo) and type in “Team 3000″ to be followed by the city you want to search. For example “Team 3000 Burnaby“, “Team 3000 Coquitlam“, “Team 3000 Chilliwack” will take you to a page with links to MLS listings for that city.

You can locate the housing type you want to search using the left navigation bar under the City you are interested and follow the link to view homes for sale. You can narrow down your search by defining the price range using the “slider” and press “Search”. The pages that open up will pull all MLS listings for that housing type within the price range you selected.

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Team 3000’s Other Websites

You can also look for homes for sale on the MLS by by using the Team3000.ca website which displays the Google Map with the URL links to each city in Greater Vancouver, Fraser Valley and Chilliwack. The navigation tabs are designed to take you to the housing type with pre-selected price range and neighborhood.

Google MLS Map Search

This is another way to look for info using the Team 3000 websites.  You can click on the Google Listing Search button, then select the city, follow by the housing type, price range, and No. bedrooms and  bathrooms then  press the “Search” button. The homes meeting the criteria you selected will pop up and you can visually locate where these homes are located in the city. Details on each listing can be viewed by clicking on the “More Information” button.

I hope the above info are helpful to you looking for homes for sale around the lower mainland of Vancouver, Fraser Valley and Chilliwack.

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