The Iowa Real Estate Revolution



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.

Stay on top of the latest market trends and economic analytics with Axios Markets. Sign up for free

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:

  • 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.

  • 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.

  • 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.

  • 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.

  • Benefits include home demonstration, negotiation assistance, and participation in the larger MLS network.

  • 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.

Do you like this article? Get more from Axios and subscribe to Axios Markets for free.


Source link