Haymarket Area Real Estate & Community News
Haymarket Homeowner HaymarketHomeowner.com Published by Bryan Garcia “Haymarket Real Estate Guy� Principal Broker EXIT Heritage Realty
Spring 2019 Haymarket Real Estate Trends for Q1 2019 Garcia Real Estate Group Featured Properties Community: Spring Things! Some Local Favorites Homeowner Improvement & Service Directory 2019 Tips from the Team: Should You Love It or List It? 3 Must-Do's for Home Selling Around Town: Two Locals Make a Difference in Utah Housing Program Benefit Golf Tournament at Stonewall Golf Club Haymarket Neighborhood Real Estate Stats Q1 2019
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EXIT Heritage Realty Haymarket, VA garciarealestategrp.com 703-753-9100
Spring 2019
Alternative Real Estate Business Models
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ou may have noticed that real estate is becoming more reliant on technology and less on print, paper and people. With this, alternative real estate business models are starting to crop up, especially in hot markets like Phoenix and Denver. That said, I don’t think the traditional brokerage model is going away, but I do believe adjustments are coming. Traditional brokerages offer all services of a real estate transaction, from listing and marketing, to assisting at closing. They negotiate sales between buyers and sellers, schedule and oversee necessary inspections, and review contracts. And that’s just the basic RealtorŽ requirements. My team goes the extra step with individual expertise, home preparation consulting, enhanced marketing and more. Traditional RealtorsŽ receive a commission when the sale successfully closes, generally in the area of 5 to 6 percent of the price of the property, which is commonly split between buyers' and sellers' brokerages. The benefits include full service, expert local knowledge and negotiating power. The cons are possible longer process, full commission, and multiple showings to attract the right buyer with the best offer. FEATURED PROPERTIES
An interesting real estate business model that's gaining traction in hot markets, is the “we-buy-it-and-sell-it-for-you� model that break-outs like Opendoor offer. Right now however, they are only operating in limited regions, not the DC area. Here's how Opendoor works in simple terms: a potential seller sends them information about their home, and they provide a competitive offer. If the seller accepts, they assess the home for necessary repairs (which they arrange to do post-close) and deduct the costs from the proceeds. Details vary, but the bottom line is no pre-sale repairs and no showings – just close, get paid and move out. Opendoor then becomes the listing agent so they work with buyer's agents. Opendoor also offers a seller trade-in program, eliminating the set backs of having to sell before buying. For buyers, Opendoor has its own portal with featured properties, but they also sync to MLS. The nice thing about Opendoor homes is they have all been updated as needed, cleaned, are vacant and photographed well. They show like new homes, which is why this model is working and growing. The benefits include no hassle for seller, no showings, quick process and move on your own schedule. However, your home may sell for less with repair costs and other factors.
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