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I'm not super familiar with BuySide but it sounds like they were a traditional brokerage that worked on a discount. Our service costs less because we do less m
by rgbrgb 12y ago
I'm not super familiar with BuySide but it sounds like they were a traditional brokerage that worked on a discount.
Our service costs less because we do less manually and more with technology. A typical agent spends 80% of their time looking for leads and trying to find properties for their clients. Most of the effort in submitting an offer is filling out a bunch of forms (computers are good at this). We let clients find homes by themselves and are working to automate as much of the offer submission and close process as possible. In this way, we have the margins of a scalable technology company, rather than a traditional human-powered real estate brokerage.
In terms of not disappearing, I can't guarantee anything but we're working our hardest to build a sustainable business!
- joezydeco 12y agoBuySide was pretty much the same thing. Here's the MLS, visit all the open houses you want on your own and drop our name as the buying agent, and come to us when you are ready to drop an offer letter. So when you prepare and transmit an offer on behalf of your client and the selling agent responds with a counteroffer, who receives that? Who gets it back in the hands of the buyer? Who advises the client on preparing the counter-counteroffer? Or are your offers more of a "buyer proposes $X take it or leave it" exploding deal?
- rgbrgb 12y agoFrom the time you want to put in an offer to the time you close, we assign a licensed agent to help you through the process. That includes calling the seller to find out more about the listings, pricing expertise on your offer, dealing with counteroffers, and making sure all paperwork is in order. Currently, to the selling agent we look just like a normal brokerage. In the future we hope to put more of the negotiation process online so that process becomes even more transparent.