83 per cent of Canadians want option to purchase a home without an agent according to national poll

Online real estate auction platform Unreserved to give 2 per cent agent commission back to homebuyers that buy directly without an agent

OTTAWA, ON, April 13, 2022 /CNW/ - More than four in five Canadians (83.2 per cent) would like an option to purchase their home without an agent and keep the buying agent's portion of the transaction, according to a new poll released today by Unreserved. Only 5.7 per cent of Canadians indicated they would use an agent if given this option with the remaining 11.1 per cent unsure.

"The current system is broken and the poll's findings are a clear indication that real estate practices must evolve," said Ryan O'Connor, President and CEO of Unreserved, the transparent online real estate auction platform. "We have long believed the Canadian real estate market is poised for a major change in the way people buy and sell homes. Today's poll results further entrench the reality that home buying and home selling must transform to meet the needs of Canadians today."

The national online poll was conducted by Forum Research between April 5-8, 2022 and consisted of 1,002 respondents across Canada. A poll of this size is considered accurate +/- 3.1  per cent 19 times out of 20.

The disappointment of Canadians in the current market conditions and lack of inventory is clear- nearly 81 per cent (80.9 per cent) of respondents felt it is likely that people may never find their dream home given the current lack of homes and condos for sale. In an effort to further inspire and attract new homebuyers to its platform, Unreserved announced a new promotion to give all homebuyers who purchase a home through the platform the option of keeping the 2 per cent fee traditionally given to the purchaser agent.

"With interest rates on the rise, blind bidding wars and low inventories, there has to be an incentive to the homebuyer and that's why we are giving back the 2 per cent," said O'Connor. "Whether you are buying the home directly with us or with an agent, the transparent bidding process is the same for everyone and there is no financial difference to Unreserved."

According to the poll, while there is some belief that rising interest rates may help cool the housing market (42.8 per cent), 34.5 per cent of Canadians believe it will have no impact whatsoever with the remaining 22.7 per cent of Canadians unsure.

Additionally, almost 60 per cent of Canadians (57.8 per cent) oppose current practices of closed bidding on homes and 67.1 per cent would likely use an online auction platform to purchase a home. Moreover, 62.5 per cent of homebuyers want their agent to consider using online auctions to supplement the listings they are presented. Given the opportunity, 61 per cent of Canadians (60.5 per cent) would use an online auction platform to sell their home in an open and transparent process with a guaranteed selling minimum.

"These numbers reveal the desire for a more open and transparent process which is just part of the reason Unreserved has grown so rapidly," said O'Connor. "We have achieved a 3 per cent market share in the Ottawa market and are quickly expanding into new territories in the coming days and weeks ahead."

ABOUT UNRESERVED

Unreserved is a fully transparent auction platform committed to improving the homebuying and selling experience with operations in Ottawa, Toronto and Sudbury. Launched in 2021 and led by CEO Michael Ryan O'Connor, Unreserved offers a more equitable solution to combative real estate practices such as blind bidding, pre-emptive bully offers and sales that forgo home inspections through a transparent bidding process that increases buyer confidence and leaves sellers with the best offer on the table. This rapidly growing company is revolutionizing the way Canadians think about buying and selling their homes. 

Learn more at Unreserved.com.

SOURCE Unreserved

Media Contact: Hugh Mansfield, McMillan Vantage, [email protected], 416.918.4791; Palmer Fritschy, McMillan Vantage, [email protected], 647.821.8655