“One Percent Realty’s commission structure saves our clients thousands of dollars on every sale,” says real estate agent Betty Fricker, referring to the company she’s represented for 17 years.
“Yes, we are a discount brokerage firm, but we offer the same full service as any of the other guys.”
Fricker, who specializes in residential real estate with a focus on the Tri-Cities, New Westminster, North Burnaby, Pitt Meadows and Maple Ridge, explains how it works.
Higher priced brokerages commonly charge 7% on the first $100,000 and then 2.5 - 3% on the balance. If you have a $1,000,000 home, you’re looking at paying a commission of $29,500 - $34,000 to most real estate companies. At One Percent Realty, our commission would be just $10,000, a savings of $19,500 to $24,000.
A straight shooter who tells it like it is, as well as an experienced real estate agent, Fricker says, “I am happy to be saving people this money. I believe in it myself. Most real estate commissions are a big expense when selling your home. Why not choose a company like ours when it can save you a lot of money?”
“One thing people are surprised about is that I actually answer my phone,” she laughs.
“I take pride in giving my clients great service. I follow through with people, I work very efficiently, and that is one of my strong points.”
With Fricker’s savvy and experience in the business, it’s no surprise she receives many referrals, and her website glows with positive testimonials from past clients. However, resting on her past accolades isn’t her style, but keeping up with the fast-changing market most certainly is.
“The market has calmed down, but you don’t hear that in the media right away. You could talk to most agents, and they will share the same thoughts,” she says.
“For instance, I just had a new listing come up, and there were about ten showings over one weekend. Previously, I would have had around 25 or more showings in one weekend with multiple offers, not just one,” Fricker explains, referring to the often outrageous bidding wars that have become our norm.
“The frenzy has calmed down.”
“I don’t have any insight into where the market is going. I wish I did,” Fricker continues. “If I did, I would have bought a few places last year and sold them this spring,” she laughs. “CMHC predicted a 15% decline, and instead we had a 17% increase, and that is what they do for a living,” she adds, referring to how challenging it is to forecast movement in the market.
Does Fricker see a trend since the pandemic started in 2020?
“A lot of people are moving further east. Folks already living in Maple Ridge are going to Mission. People in Coquitlam are buying in Maple Ridge. And Vancouverites are moving to places like Burnaby and Coquitlam,” she says. “Due to Covid, many people have more flexibility when it comes to where they can live, and many also need the extra room for home offices.”
For many, the real estate market is daunting. Even asking questions about entering it can stall making decisions.
Fricker enjoys working with first-time homebuyers, saying, “I enjoy helping them and walking them through the steps. I care more about making sure that it is the right fit for people. I don’t mind exploring all options for my clients.”
