August has proven to be a pivotal month in ComFree’s History. For the first
time in over 12 years ComFree was able to link sales success to price. In
what remains a price-competitive market, ComFree sellers have the
distinct advantage of using the commission savings to help lower their price
in order to make their home more attractive to buyers.
On June 5, ComFree announced the inclusion of an appraisal for each
listing in the Greater Edmonton Area completed by an unbiased, licensed
appraiser. ComFree was able to track those who priced their home within
the appraisal range, and measure their success. The results were staggering.
Those who priced their homes within the appraisal range sold in an average
of only 38.8 days; that’s 21 days faster than ComFree clients not using their
appraisal range and over 30 days faster than those listed with real estate
agents.
President of ComFree, Travis Holowach adds: “We’ve been talking about it
for over a year, and Sellers are finally getting realistic with their price. It’s
commendable that Edmontonians have figured out that they don’t need to
hire a real estate agent just to tell them to lower their price. They can price
their homes appropriately on ComFree and sell faster while putting more
money in their pocket."
As fall approaches, many sellers who have been on the market for some time
are getting more anxious to get their property sold. In August, over 40% of
ComFree's new listings came from the MLS so they too could use the ComFree
Advantage to price their home more competitively and get it sold.
August saw ComFree's average days on market for all listings remain at 59,
although as the average days for ComFree listings priced at their
appraised value was 39 days. ComFree's total value of sales was $68.3
million over 190 transactions. Total inventory of homes on ComFree at the end
of August was down from July by 210 listings to 2681 as we move in the
direction of a more balanced market. Most importantly, the total commission
savings in August was $2.9 million, with year-to-date commission savings in
excess of $23 million. ComFree continues to be the leader in the For Sale
By Owner industry and remains the largest For Sale By Owner office in the
world!
