A website where commissions are negotiable?
When Mr. Speedy and I recently bought our home, we found our agent the good old fashioned way — by asking our friends and family, doing online research and asking questions on Twitter.
But a new service offers an environment where you can invite realtors to vie for your business, with the aim of cutting costs for both sides.
Agent Invitation allows buyers and sellers to anonymously request proposals from up to three realtors (with a $99 charge for sending the invite, which the company says shows agents that you're a serious prospective client). The site also offers details on client satisfaction and the agent's experience and qualifications.
The real estate agents then reply with the services they would provide, why they think they would be the best choice, and the commission they'd be willing to offer, hopefully at a reduced price.
Agents, in turn, are supposed to benefit from the service — and be able to afford cutting their commissions — because clients come to them, reducing referral fees and marketing expenses.
“This eliminates part of an agent’s costs because clients approach agents — it goes right to their email inbox for free — and that savings can be passed to the consumer,” says founder Don Stewart in a release.
What do you think? Would you try this service?