San Mateo-based Reali said its commission rebates on home purchases is helping clients win bidding wars
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San Mateo-based Reali said its commission rebates on home purchases is helping clients win bidding wars

By anonymous following x   2017 Nov 1, 5:57pm 171 views   2 comments   watch   quote     share    


This is being covered in today's San Francisco Business Times but is a subscriber only story at this point. The gist of the story however seems to be this company is saving clients a lot of money and some of the insiders are crying foul and a lot more. If you are not a paid subscriber, go to the second link and you can see the company that is being talked about.

https://www.bizjournals.com/sanfrancisco/news/2017/11/01/san-francisco-residential-real-estate-startups.html

Here is a link to the Reali Web Site which is pretty much self explanatory

https://www.reali.com/

Some more on the company:

Reali expands its online real-estate service to the entire Bay Area, raises $5M Series A round. The service aims to take the hassle out of real estate transactions for both buyers and sellers and also promises buyers a full refund of the standard buyer’s agent commission. Instead of this commission, Reali charges a flat fee of just under $5,000. The seller’s commission is also reduced to 4 percent. Given the markets Reali is active in, those percentages can add up quickly (though in some states, including Oregon, Kansas and Tennessee, these kind of rebates are actually illegal thanks to the tireless work of the local real estate lobbies).

https://techcrunch.com/2017/05/25/reali-expands-it-online-real-estate-service-to-the-entire-bay-area-raises-5m-series-a-round/

There is quite a bit more about the company if you care to look around the web, they just scored some more funding in the last day or so.


#RealEstate #Reali

1   Sniper   ignore (8)   2017 Nov 1, 6:23pm   ↑ like (0)   ↓ dislike (0)     quote      

Feux Follets says
Instead of this commission, Reali charges a flat fee of just under $5,000. The seller’s commission is also reduced to 4 percent.


It's still too much. The way to sell your house is to use a flat fee realtor to list it for like $400 to get it on MLS, then offer a 2.5% commission (or less) to the buyer's agent.
2   Strategist   ignore (0)   2017 Nov 1, 6:42pm   ↑ like (2)   ↓ dislike (0)     quote      

Feux Follets says
This is being covered in today's San Francisco Business Times but is a subscriber only story at this point. The gist of the story however seems to be this company is saving clients a lot of money and some of the insiders are crying foul and a lot more.


Oh it's so sad. The poor Realty cartel does not like competition. Their $60K commission on a normal home in the Bay Area is in jeopardy. They will soon go the way of the travel agents, taxi drivers, and retailers. It's a disaster. Lets ban innovation and technology.
Facts: The commissions on real estate transactions are ridiculous. There is not much expertise required beyond being able to bullshit your way through the whole transaction. Most realtors don't even make it. It's time to get a more efficient, lower cost system in place. For realtors who object....please kiss my hairy ass and whine all you want.

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