CondoDomain.com Steps into Online Traffic: Online Condominium Lead
Generation Company Takes Real Estate Brokerage Head On
BOSTON, MA— CondoDomain.com, the top-ranked urban condominium portal knownfor generating real estate leads in more than 30 U.S. markets, is now an exclusive buyers’brokerage firm for downtown Boston real estate. As of January 9, 2008, instead of passing Boston real estate leads to respective advertisers, CondoDomain will establish relationships with perspective buyers themselves. Founder and CEO Anthony Longobelieves that serving the online buyer is the future of real estate brokerage. More so, he believes in focusing in on a niche and creating efficiencies in the currently inefficient real estate purchasing process. By doing so, CondoDomain.com will operate on a flat fee
business model, refunding the majority of the buyers’ brokers commission back to their client.
CondoDomain’s niche—“luxury, urban, condominium sales catered to the online buyer”
meets a great demand among Boston’s Internet-savvy local population. CondoDomain
understands buyers; as a lead generation company, they spent the last two years studying
what buyers need and want in their real estate search. Longo notes, “After witnessing thedramatic increase in online inquiry activity and the growing fallout rate in online leadcapture and conversion, we saw an enormous opportunity to help these online buyers get what they need.” Now buyers who choose to work with CondoDomain will not only get the #1 online resource for local condominium information in Boston, but they will also get a team dedicated to searching and showing properties along with a personal guide to
help them through the home buying process.
CondoDomain is breaking the traditional mold of the real estate industry. By watching revolutionary firms such as Redfin begin to change the definition of how real estate transactions are completed, CondoDomain is pushing the envelope further by concentrating on a niche market: urban condo sales for a flat fee of $5,000 rather than for a commission. Nationally, the average $500,000 sale pays a co-brokerage commission of 3% or $15,000. In this example, CondoDomain would collect the $15,000 commission at the closing, subtract a flat $5,000 fee, and refund the remainder to the buyer after the
closing (that’s a $10,000 cash check to the buyer). Longo says, “In our opinion, the current buyers’ brokerage model is backwards. After all, why should our consultants be compensated more if our buyers spend more, or why should an agent be compensated 10 times more for a $3,000,000 purchase compared to a $300,000 purchase? This doesn’t
make sense to us—and we have set out on a mission to change it.”
However, CondoDomain’s business model is not about discount. Longo says, “Although the refunded money is a big perk to our clients—who can use this money to make a more aggressive offer, pay down mortgage principle, obtain a lower rate, buy furniture, pay condo fees, or just put it in their savings account—it is not our focus, nor is it a gimmick to get buyers in the door. We think this is a very fair way of conducting buy-side real estate transactions.” In fact, outside of their flat fee, CondoDomain conducts business just
as any other traditional real estate firm would—with the added bonus that they are experts in the Boston condominium marketplace and offer an unparalleled online resource.
With cutting-edge real estate companies like CondoDomain in Boston, this new way of conducting business is surely going to be the future model for the industry. CondoDomain is giving buyers what they didn’t even know they wanted: comprehensive listings online, a full-service brokerage team ,expert buy-side negotiators, and a refund of the traditional commission after a flat fee is subtracted. Working with CondoDomain is not just a smart and efficient way to purchase Boston real estate, but one that offers the highest level service in a transparent, no pressure atmosphere.
# # #
About CondoDomain.com
CondoDomain.com is the online marketplace for condominium buyers. Operating as a destination site in more than 30 U.S. cities, CondoDomain.com most recently has opened up its first real estate brokerage in Boston, MA. An innovative real estate brokerage, CondoDomain.com works exclusively with buyers and only accepts a flat fee for their services. Dedicated to the buy-side of the real estate industry CondoDomain.com utilizes its local market expertise and high-tech capabilities to offer the highest level of full
service exclusive buyers brokerage. CondoDomain.com, which serves the niche of urban living, has built its foundation on trust, transparency and customer loyalty.
Comments(1)