Real Estate Game Changer

Water Cooler
#1

we talked about this earlier this year. looks like this company is doing it.

Working Link

https://www.cnbc.com/2017/09/15/no-more-6-percent-commission--these-brokers-will-sell-your-house-for-a-flat-fee.html

$3,200 flat fee to sell your home.

#2

haha yea. i actually read this when i posted the other thread. fucking realtor whores

#3

that link dont work no mo bro

edit: its the main article on cnbc

#4

The $3,200 only covers the selling agent. The seller is still responsible for paying the buyer’s agent. Based on the linked article below, it’s also not clear to me if the $3,200 gets paid upfront, or only at closing.

http://www.businesswire.com/news/home/20170914006512/en/Purplebricks-Enters-U.S.-Residential-Real-Estate-Market

#5

updated link

#6

lets say you sell a 400k house. 3% is 12k. you save almost 9k

#7

imagine if we did that shit for stocks.

actually in the philippines, they charge percentage of trade. like 1 or 2%. crazy right?

did they ever do that for the us?

also stock trades can be as low as $1 now. lol

#8

You’re absolutely correct and I never said otherwise. The initial quote, however, suggested to me that you paid $3,200 and that was it. I was simply pointing out that it’s $3,200 plus the buyer’s agent’s commission. Still not clear to me if you pay the $3,200 regardless of whether or not you actually sell. The fee structure is also regressive, as the more your house is worth, the more you save.

#9

Here is another industry disrupter…https://www.knock.co/

#10

There have been individual Realtors advertising this same concept for a few years now.

#11

According to their website, “you don’t have to pay anything until your property is sold or until 6 months has elapsed. In the unlikely event that your property hasn’t sold after 6 months we will still market the property until it is sold and only at that point would you pay the buy-side fees.”

#12

I remember there was one company that said they would sell your house, or they will buy it themselves! Of course, they would not give a particularly great price, so it seemed like a mechanism to exploit information disadvantage of home sellers.

#13

this seems to be a fairly common realtor offer now. they probably tell you what they’ll buy it for upfront if it doesn’t sell so it could be helpful if you have a timeline to meet.

#14

How did realtors in the US get away with charging such crazily high rates for so long? Everywhere else in the world broker fees are like 1-2%, no?

Also, US IPO prices are about 2-3x what the are in Europe and Asia. Same firms underwriting the IPOs globally - just charge more in the US.