Tag Archives: commissions
by Jeff Mindham on 2:14 pm February 14, 2018
At the dawn of digital real estate, there were countless startups with big plans. All were going to disrupt the residential real estate business. The word “disinter-mediate” (a.k.a. for getting rid of agents) was used so often, many thought it was a forgone conclusion. People pointed to travel agents – when’s the last time you used one? – the dodo birds of the travel industry, and predicted real estate agents were next on the endangered species list. Fast forward a few years and the information super … Read More »
by Drew Meyers on 12:00 pm May 14, 2017
Reali, which raised 2 million in 2016, is another startup taking center aim at commissions (that topic no one likes to talk about). Sellers, pay a low total commission and get more out of your investment when listing with Reali. Experience selling with Reali. Video overview: The challenge with models taking aim at commissions publicly is listings listed with such brokerages are at an instant disadvantage. Why? Because some/many buyers brokers (who have relationships with buyers) won’t pro-actively show their clients these properties — even if they … Read More »
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.