Standard village council approved a motion to move forward with one of three realtors to assist in selling empty lots in its new subdivision during the regular Wednesday, October 11 council meeting.
Council members heard from administration that each of the three realtors had provided different commission rates, and administration also noted each of the three realtors also had varying sales and marketing strategies.
It was noted the lots were assessed under $50,000, though the value of each varied due to sizing of the individual parcels. Administration explained a previous council motion had set the recommended price at $25,000; however, in order to sell the lots for below the assessed value council would need to hold a public hearing for each lot sold.
Administration recommended to rescind the previous motion and impose at least a $50,000 sales price per lot. This would save time for all those involved, including the buyer, council, and administration.
A total of three real estate agencies had submitted quotes for the sale of these properties, and council discussed at length which of the three quotes would have the best results for the best cost. It was explained, although the sale of these properties would not have any cost to the municipality, a commission fee would be deducted from the revenue.
Council passed a motion in favour of entering into a six month contract with Remax Central, based in Calgary, for the sale of all lots, with the possibility of an additional six month contract extension. Administration explained Remax would use its marketing strategies and commission on each lot would range between $2,000 and $4,000 depending on whether a partner site was utilized.