Real Estate the Amazon Way
I read a great post written by Endre Barath, Jr. yesterday, if you haven’t read it, here’s the link. Whether you’re just a bit concerned about these type of companies or not at all, it’s always good to know what’s happening in the world of real estate.
For the past couple of years, companies like Z, T are popping up all over the place. Mortgage companies going into real estate business, real estate companies are now offering mortgages and the list keeps growing. Again, if you don’t care to know what they’re up to, that’s fine as well.
Do you remember when you were first introduced to Amazon? Talk about convenience. You can just type in what you’re searching for and voila! It’s convenient, it saves time, some prices are lower, you can read reviews about the product, saves money since you don’t have to go from store to store. Amazon also put many mom and pop stores out of business, that’s a fact.
Times change but change is not always good nor beneficial to all.
So, this real estate takeover frenzy..what are these companies offering home buyers and sellers? Let’s talk about the company Endre Barath wrote about. There are many home sellers who would have to sell their current home in order to buy another one. They step in and remove all the stress of listing. If you think for one minute the company isn’t in it to make money, think again. I’m certain there are and will be home sellers who would use the company just for the convenience and they will be able to buy their new home.
There are some things I will not buy on Amazon..you know, the big-ticket items such as jewelry. I can’t imagine spending a couple of thousand dollars without seeing a piece of jewelry, trying it on to see how it looks on me or purchasing a car without ever sitting in it.
Some of these companies that purchase homes for cash actually cost more money than a traditional home listing. When it comes to listing and selling a home, what is that ONE thing home sellers wish didn’t exist? Commission! Well, these companies who promise to list your home for NO Commission have fees with different names that are higher than traditional listings. They don’t buy every home, your house must meet their criteria and you most definitely pay them to list your house. In all fairness, they do offer something which you won’t see in a traditional listing. Convenience! You won’t have to worry about selecting the right agent, no worries about communication with one agent, no fixing up, no more mowing your lawn, staging your home to appeal to potential buyers, you won’t have to worry about when you will receive an offer.
Before you decide to list your home with a company that offers to list it for FREE, NO Commission, please, please, please, read the fine print and compare their offer against a traditional listing with a local REALTOR®. At the end of the day, when it’s all said and done, what is your home worth to you? This is one of the biggest investments in your lifetime. Is it worth paying more just for the convenience?
Amazon is great for finding items as you can just search, you won’t have to go store to store but a home? One of my seller clients actually contacted one of these companies and received their “offer” package. Their offer was less than fair market value at a higher commission(technology fee). They didn’t even consider, luckily, they were brilliant to do their homework, many home sellers do not.
It’s your home, your money, your life, be sure to have all the facts before signing on the dotted line. Once your house is sold, it’s gone forever, no turning back.
Real Estate the Amazon Way