Further assisting sellers with pricing, ComFree launched the “New ComFree” with a bang. Thursday June 5th ComFree played host to a day of fun-filled activities including special appearances from the Edmonton Esks cheerleaders, Edmonton Rush, Joe FM live on location, and best of all our friends from Big Brothers and Big Sisters were present to take in the fun.
With all the celebration the private listing company now charges $947, up from $699! They also re-animated the corpse of "sales success", now called "success rate" (See previous posts here and here)
We expect our success rate to jump from 73% to the high 80’s maybe even 90’s with the New ComFree.” says Travis Holowach, “Just another reason that the ComFree Advantage works for buyers and sellers in this market.”
I cannot fathom what type of twisted process could be used to arrive at a 73% success rate for Comfree in the current Edmonton market. Comfree hasn't been 73% successful at selling houses for awhile now. However, unlike REALTORS, they are 100% successful at getting paid.
Lets take a look at some metrics that are derived from actual numbers in a repeatable and straightforward way. One is the sales-to-listing ratio and another is sales-to-total inventory. Another insight is to determine the properties that are removed from the inventory each month without selling:
"REMOVED NOT SOLD"
PREV. MONTH INVENTORY + NEW LISTINGS - SALES - INVENTORY
|Date ||Sales||Listing||Inventory||Sales to Listing||Sales to Inventory||Removed Not Sold||Comfree's Sold to Listing|
|Sep 07||201||613||3423||32.8%||5.9%||-39||50% *|
*Changed to sales success
Look how the properties removed and not sold from Comfree inventory has exceeded sales for several months now. This would imply a "success rate" of less than 50%. Also note that it has been an entire year with a sales-to-listing ratio of under 40%, excluding December.
Just some things to consider before shelling out $947.