Commissions

4 Replies

New to this site, and it seems very informative. I have purchased property for investment before and feel fairly knowledgeable about the ins and outs. But I am looking to devote full time to RE investing now, and I dont want to pay full commissions anymore. I am thinking about using Ziprealty for my transactions to save some money on this front, but I have heard mixed reviews, especially on the sll side front. I would love to hear any feedback (pos or neg) those with experience with Ziprealty may have. Thanks in advance.

pstowe:

I can't comment on ZipRealty specifically, but I own and operate an auction site for real estate services where both full and discount agents bid to represent sellers. Although the lowest bid is awarded your contact information, you can limit bidding by specifying a minimum ranking. Basically, lower ranking = lower commission and visa versa. Learn more at www.realtybaron.com.

interesting concept. how long has your service been around and what kind of volume do you do? good usage by realtors of all shapes and sizes? if i were to use your service am i obligated to use auction winner, or do they just get my lead? sounds like a pretty good value add for me if i am not obligated. how do you monetize? do i pay or do realtors pay to bid or both?

sorry so many questions - just curious. sounds very interesting. thanks.

interesting concept. how long has your service been around and what kind of volume do you do? good usage by realtors of all shapes and sizes? if i were to use your service am i obligated to use auction winner, or do they just get my lead? sounds like a pretty good value add for me if i am not obligated. how do you monetize? do i pay or do realtors pay to bid or both?

sorry so many questions - just curious. sounds very interesting. thanks.

Originally posted by "pstowe":
interesting concept. how long has your service been around and what kind of volume do you do?

I launched the service about a year ago. Since then, I've been concentrating on broker/agent recruiting but sellers continue to sign up as they find us. Inman wrote an article about Realty Baron earlier this year.

Originally posted by "pstowe":
good usage by realtors of all shapes and sizes?

Yes, both full and discount brokers are signed up. However, as a seller, you choose between paying a sales commission or a flat fee which may affect the type of agent who bids.

Originally posted by "pstowe":
if i were to use your service am i obligated to use auction winner, or do they just get my lead?

No, sellers are not obligated to use the winning agent and agents are aware of the 'no obligation' policy.

Originally posted by "pstowe":
sounds like a pretty good value add for me if i am not obligated. how do you monetize? do i pay or do realtors pay to bid or both?

Sellers pay nothing--whether they use the agent or not. My compensation comes from a service fee paid by the agent *only* if a sales transaction results from the listing auction.

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