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Hi, I'm a long time lurker and an infrequent contributor on HN. When I bought my first house, I was shocked to learn that the seller has to pay a 6% commission
by throwawaynov29 12y ago
Hi, I'm a long time lurker and an infrequent contributor on HN. When I bought my first house, I was shocked to learn that the seller has to pay a 6% commission to agents, its 1-2% in other countries. This sounded outrageously high to me. I believe there is a huge opportunity in connecting sellers to buyers directly and that we don't really need agents. The app I built is an experiment to see if the idea is valid (I and my cofounder are convinced that it is) and if we can build a business around it. I know the kind of resistance I'll encounter, but I firmly believe this can be done.
Your comments are appreciated!
- tlb 12y agoYou're not the first person to have this idea. Be sure to look at the various FSBO marketplaces that have failed to disrupt the industry in the past, and try to understand why they failed so you can at least avoid making the same mistakes.
- deleted 12y ago[deleted]
- throwawaynov29 12y agoAbsolutely! We have seen many startups veering towards real estate agent model. Always helps to keep that in mind. No repeat businesses, less viral effects, urge to turn to brokers/agents and become a lead generation engine for them are all difficult issues to surmount. Thanks for the reminder.