Real Estate Professional forum is the place for positive industry interaction and welcomes your professional and informed opinion.

Tech company aims to cut out agents

Notify me of new replies via email
Real Estate Professional | 07 Nov 2016, 08:15 AM Agree 0
Meet the company trying to make real estate brokering obsolete
  • Ura Dumas | 07 Nov 2016, 10:39 AM Agree 0
    Dosnt kijiji do this already.
  • Shortcut | 07 Nov 2016, 10:39 AM Agree 0
    Good luck! Time will tell .
  • Orvil Cairns | 07 Nov 2016, 10:47 AM Agree 0
    People still want personal service,knowledge and a middle person that is a professional and some one that can be held responsible.Realtor for 40-years
  • I.D.10 T | 07 Nov 2016, 10:49 AM Agree 0
    That's what I was thinking. Or Zoocasa.
  • Seamus O | 07 Nov 2016, 10:49 AM Agree 0
    ^what they said... -3rd gen realtor of 6 years
  • | 07 Nov 2016, 11:02 AM Agree 0
    They are nothing new and just the latest spin on FSBO's.
    Some will try and may even find success but, as with FSBO's most will end up learning from the experience and finding a Realtor to finish the job.
  • Jeff | 07 Nov 2016, 11:06 AM Agree 0
    Another site with over priced unrealistic listings like ALL fsbo sites before this one. Who helps the homeowner negotiate as well? Sounds like a bunch of listings that will never sell! At that point seller reverts back to traditional agents to get the job done. Hopefully they didn't waste too much time and the market changed and passed them by, which they also won't know until they work with an agent.
  • John | 07 Nov 2016, 11:16 AM Agree 0
    Oh yes selling real estate looks easy, it's not only online. Until you are sued for a bad deal.$$$$$$100000sss.

    Not everyone can fix their broken arm, but yes you can try and not go see a doctor. I wonder how your arm will look because you opt out of paying the doctor to fix your arm.

    This is just another FSBO online crap, that all agents will refuse to bring their buyers to. Because we protect our clients and these are not professionals behind these online listings. They lie about many things!!!mould, buried oil tanks, crimes ect.

    To be a representative, and to be smart negotiator for your clints, we are trained for this. You do what you do. You just can't be everything can you? What about the crash? The blunder? The law suits from your buyer? Humm got your attention?

    Just anther FSBO online crap...we never work with them because this just not all legal stuff, be wrong and you will find out !!!

    Play with your largest asset. We protect it...that's our service!
  • Irene | 07 Nov 2016, 11:33 AM Agree 0
    Buyers want to work with someone who has knowledge in buying homes. I don't see this working. You are not renting a room.
  • Scott | 07 Nov 2016, 11:54 AM Agree 0
    I went on their site and could not find what they charge? How odd is that! Why do they not just put it out there. The other thing I do not see is there compliance with Fintrac. On line registering without any Fintrac id verification. That is a good one wait until a renter sells the home he is renting. The biggest thing still is who is going to tell the sellers their dream asking price is just to high for the market? All sellers think their home is special and think they know more than agents who just want to lower the price and sell it.
  • };-) | 07 Nov 2016, 11:54 AM Agree 0
    Checking emotion at the door and bringing logic to the table. Who better to do that?
  • Robert Schmidt - Broker/Realtor | 07 Nov 2016, 12:02 PM Agree 0
    A professional realtor has the knowledge, insight and expertise which provides valuable guidance and direction to a seller or buyer which cannot be replicated in an online program. Anyone who believes that the buying and selling of real estate is purely transactional is loosing out on the true value of a seasoned real estate professional.
  • Wayne P Gibson London, On. | 07 Nov 2016, 12:12 PM Agree 0

    Another one?
    "Average" sales fee (here) is 4.0% HST
    Sellers & Buyers (MOST)
    Want representation.

  • Catherine | 07 Nov 2016, 12:13 PM Agree 0
    Bravo John!!!!!!! Exactly!
  • };-) | 07 Nov 2016, 12:31 PM Agree 0
    As an agent; I'm not worried. They've been saying the internet will replace agents for some time now. Problem with the internet is there's too much information a good part of which is incorrect.

    Agents are not marketers so much as networkers and negotiators. Agents broker the deal.

    It (Seizin) will be little more than another FSBO site.
  • | 07 Nov 2016, 12:44 PM Agree 0
    Good luck when the market changes:(

  • Kimberly | 07 Nov 2016, 12:48 PM Agree 0
    If it sounds too good to be true, it probably is. Oh wait, you knew this already. Well, just a reminder it's not what the wolves in sheep's clothing would like you to believe.

    Stick with the experts who have your best personal and legal experts at heart.
  • Peter B. Realtor | 07 Nov 2016, 12:54 PM Agree 0
    Yes, we realtors are all "bad", unlike the parasites that take stuff for free, repackage as the newest "service to empower individuals" and make money from the profits. Uber did not provide a service. Uber stole the lively-hoods from hard working individuals (yes, some dubious practices in the cab industry but most are honest) and repackaged it to make money from themselves.

    This new company will do the same by milking MLS info (that realtors paid for) and they will get this info by getting cozy with crooked politicians, slimy lawyers (not all lawyers are slimy) and any scum that will tow their "giving more selection to the market place" crowd.
    Is it any wonder that full time employment is tanking across this nation and most jobs are part time and commission jobs with NO guarantees or benefits?

  • belinda lelli | 07 Nov 2016, 01:00 PM Agree 0
    In short you wish to provide a service that will prevent a seller from earning $100s of thousands more should they use an expert realtor, brokerage, and professional environment. Penny rich, pound foolish.
  • | 07 Nov 2016, 01:06 PM Agree 0
    brilliant response
  • | 07 Nov 2016, 01:07 PM Agree 0
    way to tell them
  • Mike Mitchell | 07 Nov 2016, 01:27 PM Agree 0
    Below is a message that our Real Estate Board just sent to all of our Realtor members.

    Make sure you are letting your team members or office know where and when you are meeting new clients. Please make sure you are taking personal information down over the phone or preferably meeting them in person prior to taking them for showings. We did receive a call regarding a couple of our female agents having an uncomfortable experience during showings. Please stay safe and take proper precautions."

    I wonder what kind of personal security measures Seizen is taking with their customers.
    Allowing strangers into your home without knowing who they are is always taking a chance.
    Personal safety and protecting your possessions is risky buisness!!!!!!
  • mike | 07 Nov 2016, 02:04 PM Agree 0
    and i wonder where they will get their data? Real estate will continue to function for the folks that appreciate proper care and advice from a seasoned and honest professional to receive maximum value and no legal concerns on closing!
  • MRH | 07 Nov 2016, 02:15 PM Agree 0
    Ahhh, just because the world already has taxi cabs does not mean that Uber does not provide a service. It simply is an alternative form of getting from Point A to Point B. That is what a service is. I feel for some cab drivers but I have no empathy for taxi companies who control the market. And if you are a cab driver that is affected by Uber then maybe should consider alternative employment.
  • Diane Plant. | 07 Nov 2016, 02:16 PM Agree 0
    Signing an Agreement of Purchase and Sale without an agent is like being a lawyer without a being lawyer. These are legal and binding documents. Sellers do not know what clauses to deal with properly. They do not have the ability to make sure the buyer is qualified. They don't have the mental ability to deal with the sale of their home in an detached manor. There are so many more benefits of working with realtor. They have to be around for all showing and buyers really don't know how to deal with sellers who are on their heals throughout the showing. How do you tell a seller your home sucks without being rude.

    The seller also misses the opportunity to get more offers with a smaller market and just a sign on the line. Cheap homes might sell this way but homes in the million plus range don't shop on Kijiji or Craigslist.

    Some lawyers will make a lot of money sitting in at the table with these offers. Good luck.
  • Rob | 07 Nov 2016, 02:52 PM Agree 0
    I've see lots of them come and go over the years, completion bureau will likely help this one too. But I'll just keep on trucking and helping people with the purchase or sale. An experienced Realtor.
  • . | 07 Nov 2016, 04:48 PM Agree 0
    lol... the market has already changed
  • damn the realtor | 07 Nov 2016, 05:25 PM Agree 0
    Realtors are nothing but a bunch of sleaze bags who just want your money. I'll use this service any day.

    What's that you say? law suits are coming? Get real.
  • | 07 Nov 2016, 07:19 PM Agree 0
    Obviously you have never worked with an honest realtor who works hard to keep the clients interest first!
    Someone who goes above and beyond to meet the clients needs, to protect them and make the informed choice.
  • Jamie | 07 Nov 2016, 08:56 PM Agree 0
    Hi Jeff, I’m a cofounder of Seizin. We don’t tell our users what to set their asking price at; it’s up to them. Seizin gives home buyers and sellers the tools, information and real estate experts they need to buy or sell confidently. We give users access to market data in the form of comparables reports using MPAC’s sophisticated appraisal methods. We give users access to real estate appraisers are properly licensed and insured to inform buyers and sellers of market conditions as they pertain to a particular home and give an unbiased estimate of a home’s market value based on facts and reason.

    We believe real estate lawyers are properly trained and insured to negotiate for their clients and at a much more affordable rate -- typically a tiny fraction of 5% of the purchase price that an agent charges Also real estate agents are not qualified to dispense legal advice.
  • | 08 Nov 2016, 07:38 AM Agree 0
  • | 08 Nov 2016, 07:47 AM Agree 0
    Regarding your last comment pertaining to let me know what lawyer will sit with the seller's and negotiate through 16 offers that are on the table...
    Good luck to the sellers that have to try and orchestrate/generate that type of activity and know what to do to get the most out of the situation. Yes Appraisers play a roll in the process but they don't trade real estate on a day to day basis...there is a difference.
    You are not even scratching the surface on what good Realtors bring to the require the expertise of all three (Realtors, Lawyers & Appraisers) in order to get the best $$$$ and be legally protected while doing so....
  • Lou Bendo | 08 Nov 2016, 09:49 AM Agree 0
    --I have been a Real Estate Broker for over 60 years and still going strong. I have witnessed a multitude of such schemes over those years and they all ,eventually , fall by the wayside. Nothing , yet devised, can replace a knowledgeable and trusted 3rd party negotiator to bring a transaction to a successful conclusion . Every one needs professional guidance with important undertakings and the Realtor is the one that provides it.
  • | 08 Nov 2016, 11:28 AM Agree 0
    There is always someone that thinks they can do a better job by offering a lot less. Realtors are educated and dedicated. Home owner wants to sell their own home; that is not a problem. Yes there is a commission for a Realtor; however, we also get the best price. Sylvia R.
  • Buster 40 year realtor | 08 Nov 2016, 05:09 PM Agree 0
    SLEEZE-IN...Just another JOHNNY-COME-LATELY real estate wannabe cash grab company. See how long it lasts until it joins the dustbin of other failed do-it-yourself FSBO marketing companies.
  • | 09 Nov 2016, 01:04 AM Agree 0
    Who pays millions of dollar to purchase a whole-life asset just by using an app????
  • L . Deschamps | 09 Nov 2016, 10:20 AM Agree 0
    and who again is going to protect the sellers from the public ! all the laws and rules that we brokers are made to follow very strickly ! the banks here in Quebec want a sellers declaration filled out ! but when selling on your own ! you donnot have any of these forms.Good luck, I have been a broker now for 13 years, it is getting that the banks are depending more and more on the brokers , they are convinced that the brokers are the trained people to take care of the transactions.Donnot put all the brokers across Canada in the same basket ! OMG everybody judges the brokers on a very few bad ones in the Toronto area !!!!
  • Peter B. Realtor | 09 Nov 2016, 12:17 PM Agree 0
    Fantastic. Use MPAC's "sophisticated" information to set the sellers market price. Have you noticed that MPAC assessments are generally lower than the selling prices of homes? Provide your sellers with information so they can under-list their homes. Good one.
    As for Lawyer's being able to negotiate for "far less" than 5% (which is not a standard fee as there are no standard fees so stop misrepresenting facts), I have spent 6 hours with my sellers and another 2 hours on a proper CMA with NO guarantee of recapturing my costs if the house does not sell (or they choose not to list or do so with someone else).
    What would a lawyer charge for 8 hours?
    Will they personally show the property at all hours or let their flunky do it?
    Will they review multiple offers, negotiate and follow through without adding extra fees to their invoice?

    Open any city real estate publication or newspaper and it's plain to see that there are many commission plans out there.

    Just a shell game using fuzzy optics to make money.
  • BSDectector | 09 Nov 2016, 01:51 PM Agree 0
    You all bathe in the same BS. It's comical.
  • Cathy Bradford | 09 Nov 2016, 01:54 PM Agree 0
    This does not give the consumer the history knowledge needed for them to make an informed decision. Sellers not put in position of full disclosure. Beware buyers. Licensed realtor for over 30 years.
  • Cheryl | 11 Nov 2016, 11:15 AM Agree 0
    As a Mortgage Broker I have seen the CONTRACTS and results that are produced by inexperienced sellers and buyers and I'm certain any Conveyance Lawyer or Notary would agree ...majority of them are a full of errors and omissions.

    A Contract of Purchase and Sale is a legal binding document. As a buyer or a seller it's in your best interest to have it completed by a professional. There are details too numerous to mention that have to be taken into consideration to protect each party.

    I realize that in this economy we all want to save a dollar, however, for most of the population your home is your biggest asset hence buying or selling the biggest transactions of your life.

    Just because you own a drill would you give yourself a filling? If your home was on fire would you skip calling the fire department because you have a hose? We all have sharp knives in our kitchen...would we perform surgery on ourselves?Would you leave your children in the care of a stranger?

    The simplest error on a contract can cost you a lot of money. We live in a time when Mortgage Fraud is also a consideration....can you imagine how it would feel to have paid 100's of thousands of dollars for a home the seller had no legal right to sell.....There are con artists out there that look for
    opportunities like this.

    Protect yourself, protect your family and your investment. Using a professional, no matter what your need, is in your best interest!

  • susan | 11 Nov 2016, 02:36 PM Agree 0
    our trouble started when we gave all the info to the real estate boards. companies used to own the listing when there realtor
    brought it in and the information was in the hands of the company we worked for and all the information and advertising was
    in the hands of the realtor after all there clients trusted them to list and sell there property now the boards are in control and
    we have very little to say. what has happen to our business is a shame and all the stupid realtors are to blame they never stood up
    for the business and at the end of what used to be people business tech and internet has taken it all away and I like all of it but
    we should have been more aware what is going on. so slowly we are being pushed out because we have no say over the information we provide and work for.
  • Claudia | 13 Nov 2016, 03:49 PM Agree 0
    In the 28 years I have been in the real estate profession, I have seen all kinds of schema offered by fly by night companies enticing the public to use their systems and save money bypassing realtors. They all failed. Reality is that a professional, knowledgeable real estate agent is unreplaceable! The smart seller knows it.
  • Elvis | 14 Nov 2016, 09:12 AM Agree 0
    Isn't brokering a parasitic system? Ultimately the parasite destroys its host and will die. To be specific, agents are complicit in the rise in prices of real estate (don't even bother to deny it), destroying ultimately the very market they feed off. As with all such systems, sooner or later something else comes along to replace both. Nature at its finest and progress at its best.
  • Rob | 14 Nov 2016, 09:33 AM Agree 0
    once you get out of urban centers mpac assessments are right out to lunch, some unrealistically too high some ridiculously low. They don't have a clue.
  • Karl | 17 Nov 2016, 07:57 AM Agree 0
    Great but wouldn't you want someone who has written hundreds or thousands of real estate contracts on your side while negotiating
  • Thomas M. | 18 Nov 2016, 10:36 AM Agree 0
    Like my dad always said...."if you pay 10 cents for a diamond ring, you probably didn't get your dimes worth" get what you pay for in life.
  • Emad Fadel | 18 Nov 2016, 01:27 PM Agree 0
    Don't waste you time and money a friendly advice
  • Frank | 21 Nov 2016, 09:07 AM Agree 0
    Response to Jamie's Nov. 7, 8:56 PM Post..."MPAC’s sophisticated appraisal methods". You must be kidding! They may be sophisticated but more often than not the values they generate are way off! At best, the mass appraisal techniques utilized by MPAC are a joke. So then you hire an appraiser who, compared to an active realtor, has seen and inspected only a small fraction of the properties they will be using as comparable properties. Do you know where appraisers get their data from? From the local real estate boards that's where. And the good appraisers will often verify the information from the respective realtors.

    The sellers and buyers that will be using the Seizin platform, like many others, are one mugging, scam and lawsuit away from being forever disillusioned with the thinking that they can do it on their own. And to suggest that they can simply ask the respective lawyers to come to the negotiating table? Don't get me started on that one!

    Good luck trying to sell properties in a slow market with your Seizin platform, MPAC, appraisers, and lawyers. Believe me the notion that you will be saving lots of money by doing so, will quickly fade into oblivion. Hopefully this will happen long before you hire a professional realtor or you have to hand over the keys to your home to your banker.
Post a reply