Homebuyers and real estate agents have a new sales tool at their disposal. In contrast to the traditional real estate model,
MLS My Nest introduces cost-sensitive home sellers to agents in their area who will list their home for a flat fee of $1,500 instead of a percentage commission fee. Co-founded in Memphis by Jessica Buffington and Dustie Zvolanek, in just 60 days their team has expanded to 23 cities, 35 network Realtors(R), 87 listings, with two homes already sold.
In high-demand markets, homes are practically selling themselves, so it is often hard for homeowners to justify paying a three percent commission fee to a listing agent. On the other hand, sellers often prefer the benefit of full representation by an agent, which includes the value of an MLS listing that better ensures buyer traffic.
“On the flipside, there are 1M realtors in the United States spending over $3K a month in marketing costs just to generate one home buyer lead,” explained Buffington. “Our online program includes an easy to use website and app. It is for home sellers who want to spend less on commission fees, but still want full agent representation -- and for real estate agents who want to spend less on marketing costs, get extra listings and gain buyer leads.”
Buffington said that their program empowers home sellers to eliminate 85% percent of the work normally required of an agent to list a home on the MLS. In exchange for accepting a $1,500 flat commission fee, the agent gets the opportunity to support the seller in buying a new home at the full commission rate in the future.
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