User:TorontoAgent/sandbox

One Percent Realty Ltd. (BC) was established in the spring of 1999 by Ian Bailey. Market research suggested that the public recognized the value of a "middle man" for showing properties and negotiating a sale, but that they viewed prevailing commission rates as too high. The initial introduction of the One Percent real estate brokerage concept to the public was through a Remax franchise office which initially approved, but then revoked it's approval shortly thereafter. As a result One Percent Realty Ltd. in Vancouver British Columbia was incorporated.

In 2005, One Percent Realty Vancouver Island, franchise, was founded to operate in the Victoria Real Estate Board and Vancouver Island Real Estate Board. The franchise was managed by Darren Chamish. In 2009 the company started to grow nationally. The Alberta office of One Percent Realty was opened. The office is operated by Tyrel Laqua in the Calgary Real Estate Board, Edmonton Real Estate Board, Lethbridge Real Estate board. The following year, Charles Harris and Jeremy Cummings opened up the Atlantic Canada offices starting with a Newfoundland Office and then in Nova Scotia in 2012. In 2011 the brand brand opened up in Ontario with offices in the GTA, Ottawa, Hamitlon-Burlington and subsequently in Kitchener and Barrie. In 2012, Lyle Buddecke opened up the Saskatchewan office with it's head office in Regina.

In 2012 the brand came close to selling a billion dollars of real estate in Canada and had over 225 sales agents across Canada.

The 1% Deal For the most part, it requires the same amount of effort to sell a $100,000 property as it does a $600,000 property. They both get listed on the MLS® system, shown to potential clients, advertised, contracts get negotiated on them both. Yet the commission expense would be a dramtic 6x higher on the $600,000 home versus the $100,000 one ( eg using a 5% commission rate). For our Full Service on MLS® for homes under $600,000 One Percent Realty charges the same flat $6,900 of commission whether the home is $200,000 or $600,000. It is like they are charging all their clients a 5% commission on just the 1st $140,000 with no charge for the balance i.e. as if their home was priced $140,000 each time. For homes prices over $600,000, they charge a very reasonable commission of 1% + $900 (written as 1.9% on the first $100,000 and 1% on the balance of the sale price in Ontario). The $900 portion in the $6900 under $600,000 commission pays for the typical costs associated with marketing and selling a property. Those costs include MLS® fees, real estate office conveyancing to handle the office paperwork once you have a sale on the property, and of course an advertising and marketing budget.