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Victoria Real Estate Friday Pfunny: Look Who's Selling Real Estate Now!

Victoria Real Estate Friday Pfunny: Look Who's Selling Real Estate Now…!

When it Comes to Buying or Selling Victoria BC Real Estate:

Would You Buy or Sell a Victoria Home from or with Wal-Mart?

Victoria Real Estate   Not to worry, you did not miss an announcement; Wal-Mart (as far as I know) is not selling houses, at least not yet.

Most of us don’t get their plumbing fixed by calling your lawyers office, or want medical advise from the landscaper, to me, this whole thing about “one stop shopping is getting a bit out of hand, isn’t it.

I still feels strange to me, walking into a Pharmacy to find isles filled with electronic stuff. Or to go to a Car parts/ repair business to find house cleaning products and furniture.

So how does this relate to Victoria real estate…. Over the years we have seen all kinds of “interesting” business mix combinations in Victoria real estate;

  • Banks or credit unions
  • Insurance brokers and or agencies.
  • Developers and Builders.
  • Even an international Cruise ship and travel company.
  • More recently in Victoria we are seeing a building supply business.

Yes, In a strange way most of these business mixes and combination can be viewed (to some degree) as complimentary to each other in Victoria Real Estate.

Well here is the latest Real Estate Business Mix Model in Greater Victoria Real Estate…..

This one is so far out in left field that I really had to wrap my mind around it to figure out why they are entering real estate, but I think I have by now and I wanted to share this with you.  

Let’s introduce the newest player in Victoria Real Estate, drum roll please….

 

It’s Roger’s, no, not the ones with the lovely Chocolates, it’s Rogers the (we also sponsor arena’s) Cell Phone, Tele Communications & Cable (and what else can we control) Company…….  

Hang on now; before you run off and into the closest Rogers retail outlet to look for pretty pictures of houses, they won’t actually be selling any houses.

In fact rogers won’t have any active real estate sales people licensed with their branches directly selling homes anywhere in Canada.

Okay, you ask… What will they do? Well they have just started in Toronto (and pretty soon also in Greater Victoria) and have opened a website portal (somewhat like www.realtor.ca) on which consumers can find stuff about houses and real estate…..  

So far so good, nothing really special or different for the consumer, pretty pictures, some fancy gizmo's and gadgets, seemingly fairly innocent so far.

 

But this is where it gets totally different from the traditional agent or realtor.ca websites.  

If and when you, the consumer, are interested in a property or want just more information about Victoria Real Estate, this website (this one owned by rogers, but there are others like it) will then take your inquiry and sell your contact information to the next real estate agent in the region where you are or the region where you want to go for 35% of their commissions they earn. (or both if they are not the same)……  

Here is how these type of sites and or companies work exactly;

  • You visit one of these (what we call) Contact Information Capture sites.
  • You view some information and you ask for more information, let’s say about a prime example of Victoria Real Estate.
  • Your contact information is then forwarded to a real estate agent who has agreed to pay rogers 35% of the commissions that the agent will earn (if and when you use this agent to buy and or sell a home). From then on (as far as real estate is concerned) you won’t hear or see much from rogers, other than to sell/offer you other stuff.
  • In case that you also need to sell your current home….. You guessed it, they will sell your contact information to a local agent for another 35% of those commissions.
  • It is however very likely that your contact information will also be used and or sold to other organizations, services and or products.
  • When you inquire about a property at say www.realtor.ca or our own website at www.pay-lessrealty.com (or the website of any one agent or traditional real estate company) no such fees are paid to an external contact information capture service.
  • Yes rogers offers some cash back if you use their system to buy a house but that amounts to about 5 to 10% of the commissions in actual money (the rest is coupons or discounts).
  • FYI, when you use our Pfanntastic … www.pay-lessrealty.com to BUY Greater Victoria Real Estate we pay you up to 60% of the commissions we earn over $ 4,000, each and every time.
  • FYI, when you use our Pfanntastic … www.pay-lessrealty.com to SELL Greater Victoria Real estate, we offer a 1% (with a minimum of $6,500) and a 2% (with a minimum of $ 8,000) full service MLS® Marketing and Sales System.

This evolution in Victoria real estate by which your contact information is being sold, is a bit scary to me, aside from the privacy issues, as this creates the impression that all it takes to be a real estate professional is put up a web site with pretty pictures and viola you are done, which is clearly not the case.

However it’s pretty hard to tell, who is the real thing and who is just in the business to sell your contact information; somewhat in the same way that so many communicating on line with people having the impression of talking with a genuine nice person, while the other is just there to find a way to take advantage of a situation…..

If you wonder what the harm is in this type of contact information capture and resell business model, these just jump out at me;

  • There is no assurance of quality of service, as these companies and sites will refer to anyone that will pay them.
  • It adds to the cost of real estate transactions, the money has to come from somewhere.
  • It makes moving more expensive, both for buyers and sellers.
  • The information provided is computer/ web generated with little if any personal connection to any one specific situation, and as such very unreliable.
  • Privacy of personal and confidential information may potentially be used/abused against a consumer.
  • Will very likely result in a reduction in quality and or consistency of service.
  • These contact information capture companies will not accept any responsibility or liability under their disclaimers for anything they do or don’t do.
  • They owe you nothing as far as fiduciary obligations as real estate agents.

  After 25+ years in Victoria real estate and nearly 40 years in Business, I know that there will always be “The Next Best Thing”, and sometimes there truly is a real innovation that helps the consumer and or the real estate professional to provide a better real estate service, product or results…….

In this case, You draw your own conclusions if you think this dilution will in anyway make real estate services and results, your plans, plans, dreams or objectives any better.  

Clearly this new adventure by rogers into Victoria real estate is all about rogers making money and controlling/directing consumer behaviour to rogers.

They have little if any obligation to home buyers or sellers, and owe their sole responsibility to their share holders…. I wish them well as a telecommunication company, however in Victoria real estate not so much……  

I wonder what would happen if any of the larger national or international real estate companies applied to the CRTC, to seek licensing for say; selling cell phone, cable or other telecommunication services, what would happen, anybody think rogers would support such application, nah, me neither……. ?  

We continue to do our very best to offer the best possible Victoria real estate services and results, while at the same time saving you money, time and frustration.  

Victoria Real Estate Friday Pfunny: Look Who Is Selling Real Estate Now…! So I repeat the question,

Would You Buy or Sell a Victoria Home from or with Wal-Mart (or rogers)?

(by the way the operating name for this company is not rogers, and I deliberately did not include it in this post).

Victoria Real Estate, it’s all ducky !

Victoria Real Estate      

 

 

 

Peter Pfann,

CPCA, ABR, SRES, E-Pro, IMSD, Master ASA, C-CREC, Associate Broker.

Text or Talk To Peter @: (1) 250 - 213 - 9490  

peterpfann@gmail.com  www.pfanntastic.com

Pfanntastic Properties in Victoria, BC, Canada, @ Fair  Realty Since 1986.

Regional office: 1540 Fort St Victoria, BC V8S 5J2

 

Comments

Peter - This is very interesting, maybe Wal-Mart will sell homes too in future. Thanks for the information about Victoria real estate Friday Pfunny.

Posted by John Pusa, Your All Time Realtor With Exceptional Service (Berkshire Hathaway Home Services Crest) over 7 years ago

HI John,

it would not surprise me one bit at this stage....

 

Posted by Peter Pfann @ eXp Realty Pfanntastic Properties in Victoria, Since 1986., Talk To or Text Peter 250-213-9490 (eXp Realty, Victoria BC www.pfanntastic.com) over 7 years ago

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