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Low stocks The number of homes for sale has led to a boom in the popularity of non-traditional listing services, several metro real estate agents told Axios this month.
Why is it important: Our sources told us that we may be undergoing a transformation in the way homes are bought and sold, which can either help us save money or be a source of remorse.
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Memories: For decades, homes have mostly been sold through licensed real estate agents with access to the local Multiple Listing Service (MLS), a tool that connects them with sellers through their respective brokers in exchange for split sales commissions.
What’s happening: The way we do real estate is evolving due to technology and market pressures that require quick buy / sell action, Rob Doheny, Co-Founder of a Fixed Fee Brokerage. Next generation real estateAxios said. Its points:
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Sites like Zillow make it easy for buyers to find homes for sale and plan their own tours – a job that agents have often done in previous years.
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Sellers who receive multiple bids as soon as a house is listed question the paying agent commission, usually 6%.
What they say: Low stocks pushed more buyers to look for homes through companies that don’t use local MLS databases, Ankeny RE / MAX agent and manager officer Kristen Geiger said Axios. She believes that the popularity of these services may decline as more homes are on the list.
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FSB co-founder Chad Boge says his business has grown steadily over the past decade. He told us this is part of a “systematic, methodical change” in the way homes are sold, not a momentary market trend.
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Doheny said Next Generation’s business will grow by about 25% in the first half of 2021. (It uses the public MLS service, not a direct subway service.)
On the other side: Using a realtor offers benefits that some of these services do not offer, which can help sellers maximize profits and buyers headaches, Geiger said.
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Benefits include home demonstration, negotiation assistance, and participation in the larger MLS network.
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Homes sold by their owner brought on average 77 thousand USD USA fewer last year, according to the National Association of Realtors.
The essence: It is worth weighing the current real estate market and assessing your options before buying or selling, DSM agent with a reduced commission June McKay Axios said last week.
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