Tag Archives: commissions
by Drew Meyers on 9:30 am March 15, 2017
In our latest real estate tech interview, we’re talking with Joshua Hunt from TRELORA. Based in Denver, “TRELORA is the word REALTOR® jumbled up for a reason”. Without further ado… What do you do? That’s a loaded question. Oftentimes, I feel like it’s a cycle of stumbling, falling and getting back up. I aim to be the leader that empowers our team to be extraordinary. But, if I really think about what I do best and what is best for TRELORA and the team, it is … Read More »
by Drew Meyers on 9:30 am February 3, 2017
GoldenKey recently raised $1.75 million (TechCrunch). What’s the model? Instead of a commission, you pay an agent a flat fee for the services you need and get a 3 percent rebate when you buy or sell a home with the help of one of the company’s partner agents (though some states like Oregon don’t allow for this rebate). That may not sound like a crazy idea, but in the rather conservative real estate world, that’s akin to a revolution. Here’s a video pitch: The no … Read More »
by Michael Price on 12:39 pm August 31, 2016
About a week ago while on LinkedIn, a job posting popped up in my feed for a real estate broker by a company that was new to me called Homebay. It was a complete coincidence that Drew had them in his radar at the same time. My curiosity was piqued a bit further when I noticed that the person that posted the listing was a contact I had made a couple of years ago at the NAR convention in New Orleans. Eddie Earnest, formerly of Zurple.com, … Read More »
by Drew Meyers on 1:34 pm August 26, 2016
The value proposition of HomeBay: THE SMARTER WAY TO SELL. Sell Your Home, Keep The Commission. Commissions, that dreaded topic most love to avoid. (read some of my prior analysis on the topic here and here). The field of those trying to get rid of commissions/agents is getting more crowded by the month (here, here, here, etc)… is anyone succeeding in the regional pockets they are focused on? Any intel you have, leave in the comments please.
by Drew Meyers on 8:00 am May 16, 2016
I came across SideDoor this weekend, with the following value proposition: Sell your home directly to buyers. No agents or their fees. More context in their video: Given the context here, I’d be curious to hear what’s unique about SideDoor’s approach? Where are they going to succeed, where others haven’t?
by Drew Meyers on 11:36 am April 18, 2016
There’s a recent article (& 300+ comments) in the Washington Post about commissions, the topic everyone always loves to debate. You may also find my analysis from 2014 interesting. Do you think anything has changed in terms of consumer behavior/adoption for discount services in the last 2 years? Random question: why do all For Sale by Owner signs look like crap? Surely, if you’re trying to sell a $300,000 house you could spend more than $20 on a crappy sign for your yard?
by Drew Meyers on 11:30 pm October 12, 2015
As I’ve written previously, the topic no one ever wants to touch in this industry is commissions. Yet I hear pitch after pitch from entrepreneurs on this topic. Changing consumer behavior is insanely difficult. I honestly have zero idea how long it will take (we’re talking years, not months in any case), but do think the industry will eventually shift the commission structure / options — though only in markets such as New York, San Francisco, Seattle, Los Angeles, and Boston where home prices (and the resulting commissions) are insanely … Read More »
by Drew Meyers on 11:20 am July 2, 2015
And…..another entrant is trying to get rid of agents. ListingDoor.com Their model is essentially a fancier, well designed FSBO offering. Sellers pay a one time marketing fee (pricing can be found here). I’m curious how this one plays out.
by Drew Meyers on 4:59 pm June 17, 2015
From the list of TechStars Boulder companies, I found Trelora. Another startup going after cutting commissions. It seems Trelora has been around quite awhile in Denver, here’s an article from 2014. Sure, everyone will tell you they want a cheaper way to buy and sell homes. But what they DO is different. When push comes to shove, most continue to use a traditional agent. How is Trelora, or anyone else, going to break that cycle at massive scale? If the Trelora team is reading this, I urge them to … Read More »
by Drew Meyers on 8:39 pm March 16, 2015
Some of you may have seen Open Listings, part of the current Y Combinator batch. The TechCrunch headline: YC-Backed Open Listings Enables Home Buyers To Purchase Houses Without Real Estate Agents Yeah, that’s not going to go over too well with the industry. But that’s fine. If you’re not pissing someone off, you’re likely not working on a very disruptive business. What I would like to know, is what they are doing differently than the many past attempts to get rid of agents / reduce commissions? I’ve written … Read More »