Toronto Real Estate and Neighbourhoods Blog | Move Smartly

As Seen on TV: Beware of Guaranteed Real Estate Sales Programs

Carl in Home Buying, Home Selling Tips, Real Estate Trends

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You have to hand it to the Real Estate brokerage industry for coming up with new, innovative and creative marketing gimmicks ideas.  There is simply no shortage of them.  If the trend continues, it won’t be long before we start seeing the debut of some local Realtors on late night television sharing valuable infomercial space with the likes of Ron Popeil and company.

One of my favourite gadgets to hit the real estate airwaves is the Guaranteed Real Estate Sales Program (GRESP), not to be confused with the Showtime Rotisserie or Pocket Fisherman.

The usual tagline reads something like this:

We will sell your house, or XYZ Realty will buy it! We Guarantee a Sale, Guarantee a Closing Date and best of all we Guarantee Market Value!

If you are worried about the sale of your home, don't be!  XYZ Realty has a program to relieve a seller's concerns about the sale and closing of their home. Think of it as an insurance policy or safety net against unforeseeable market changes that could effect how much and when you must sell your home. When you accept an offer from XYZ Realty, you are guaranteed that your house is sold and a closing date set in place. You are also given plenty of time to market your home and accept higher offers before closing with XYZ Realty, assuring you receive fair market value.

But wait, there’s more...

Titles, Trophies and Testimonials: the Sorry State of Real Estate Advertising

Ed. Note.  Move Smartly is pleased to welcome Carl Minicucci and his insightful commentary to our blog.  Carl is a sales representative with Humber Valley Realty in Vaughan and is active in the real estate industry.  He has a professional background in accounting and business.

Carl in Real Estate Trends

As a member of the Toronto Real Estate Board (TREB) finance committee, I always look forward to monthly updates of membership statistics. Certainly, there is a direct correlation between the swelling numbers of new registrants over the past number of years and the corresponding strength of the real estate market.

According to the TREB, for the year 2007, there were approximately 93,200 total residential unit sales and approximately 26,800 registered members as at year’s end. Five years earlier, for the year 2002, there were approximately 74,800 total sales and 18,100 registrants. The net result is a decrease in average unit sales per registrant of about 16%.

The above trend arguably is a contributing factor to the overall proliferation of media advertising among Realtors. From billboards, bus shelters and balloons to trade journals, television and tried and true ad-mail, traditional advertising continues to prevail. Add to that the exponential growth of on-line marketing and Web 2.0 and you begin to appreciate the breadth of media being used by Realtors in their efforts to capture consumer attention.

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