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New Site, HomeBrokerAuction.com to Auction Off Realtors Commissions
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Added: 01/13/2004
Type: Summary
Viewed: 691 time(s)
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New Site, HomeBrokerAuction.com to Auction Off Realtors Commissions
The site, employs a simple strategy, and is the only service of its kind on the web. Roth’s idea was to create a web site where a home seller places their house on an auction, and real estate brokers from their area bid their lowest commissions to list the home. As a result, the lowest bidder takes the deal and the home seller saves a fortune.
“Imagine how much commissions will fall when dozens of brokers compete to undercut one another’s bids to list a home,” says Roth. Additionally, sellers can choose from the 3 lowest bidders, though are not obligated to any. They will also be provided with those three brokers’ customer ratings and then decide on their own if they want to list.
Figures from the National Association of Realtors show that in 1999 approximately 5 million homes sold, resulting in roughly $27 billion in brokerage fees. If Roth’s HomeBrokerAuction.com shaves only a modest 1% from a broker’s commission, sellers will save up to $8 billion. While the site appeals to those accustomed to paying full commissions for a broker’s services, For-Sale-By-Owners should be equally as delighted. “FSBO’s should be excited that there is a service designed to save them a lot of cash and a lot of time otherwise spent running home from work for showings,” says Roth.
With its auction style format, HomeBrokerAuction.com successfully positions itself to please both home sellers and real estate brokers alike. The service provides a fairly simple route for real estate brokers to attain more business and reputability, and home sellers will clearly benefit from the site’s breaking of tradition, through its competitive reduction of commissions. “Our goal was to create a site that would equally benefit the home seller and the real estate broker. I could not allow for one to benefit at the cost of the other,” notes Roth. As such, HomeBrokerAuction.com should be a real ‘crowd-pleaser’.
Interview Contact: Peter Roth, CEO.
(303) 322-4354 Office
(303) 886-0205 Cellular
(303) 336-9904 Fax
Peter@HomeBrokerAuction.com
6825 E. Tennessee Ave. Ste. 102
Denver, Co. 80224
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