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Revolutionizing Real Estate: Exploring the Advantages of homeFree vs. Discount Brokerages

Discover the key differences between homeFree, the fully-supported private sale platform, and discount brokerages. Learn how homeFree empowers homeowners to take control of their real estate transactions while saving thousands in commissions. As the real estate market undergoes a revolution, many homeowners are seeking alternative options to traditional realtors. One such option is homeFree, the […]

homeFree

July 13, 2023

Discover the key differences between homeFree, the fully-supported private sale platform, and discount brokerages. Learn how homeFree empowers homeowners to take control of their real estate transactions while saving thousands in commissions.

As the real estate market undergoes a revolution, many homeowners are seeking alternative options to traditional realtors. One such option is homeFree, the only fully-supported private sale platform in North America. In this blog, we will delve into what homeFree offers and compare it to discount brokerages, shedding light on the advantages and unique features that set homeFree apart.

homeFree traces its roots back to ComFree, the pioneering for sale by owner (FSBO) real estate company. ComFree introduced a system that empowered both buyers and sellers to take full control of their real estate transactions. By eliminating middlemen and commissions, homeFree revolutionized the industry, saving homeowners over $85 million in commission fees in just eight years.

Understanding Discount Brokerages: A Misleading Alternative

So where did discount brokerages come from?  They were born after we sold ComFree, and realtors were trying to update their model to potentially charge less than a full-service brokerage, and this is also what the new owners of ComFree tried to do.  The problem is that these discount brokerages such as 1% Realty and Purple Bricks, etc is that they have an identity crisis. They are trying to disguise themselves as For Sale By Owner companies, yet when the home sells, the owner is faced with paying thousands in commissions because they still have to pay the buyer’s agent a commission, along with a significant fee to the discount brokerage itself. It’s a confusing model and in most cases, sellers don’t understand how much they must pay until it’s too late.

Whenever a home is listed on the MLS or with a realtor, there are commissions owning to both the realtor who works for the buyer and the realtor who works for the seller.  And these commissions (both buyer and seller agents) are paid for by the seller.  Discount brokerages try to potentially charge less on one side of the transaction, but sellers are still left to pay full commission on the other side of the transaction, plus various fees to the listing brokerage for putting them on the MLS plus other fees depending on the involvement the discount brokerage has in the transaction – kind of complicated, RIGHT?

Discount brokerages, such as 1% Realty and Purple Bricks, emerged as an attempt to update the traditional real estate model. However, they often suffer from an identity crisis. While they portray themselves as FSBO companies, the reality is that sellers still end up paying commissions when their homes sell. This confusing model often leaves sellers unaware of the costs until it’s too late.

Clarifying the Commission Structure: Simplifying the Process

When a home is listed on the Multiple Listing Service (MLS) or with a realtor, commissions are owed to both the buyer’s agent and the seller’s agent. Discount brokerages may charge less on one side of the transaction, but sellers still have to pay the full commission on the other side, along with various fees to the listing brokerage. This complex structure can be daunting and financially burdensome for sellers.

The Advantages of homeFree: Transparency and Control

homeFree stands as a fully supported private sale alternative, offering complete control over the sale process without any commissions or hidden costs. Here are some key advantages of choosing homeFree over a traditional realtor:

a) Great Exposure: homeFree provides extensive marketing and support tools, ensuring that potential buyers discover your home.

b) Thousands Saved in Commissions: By pricing your home more competitively, you can sell faster or keep the commissions for yourself, bypassing the middleman’s hefty fees.

c) Marketing and Support: homeFree offers all the marketing and support services of a realtor. The only difference is that you show your own home, leveraging your intimate knowledge of its unique features.

d) Flexibility in Showings: With homeFree, you set your own schedule for showings, eliminating the need to align with a realtor or buyer’s availability.

e) Streamlined Paperwork: Regardless of how you sell your home, whether privately or with a realtor, a lawyer finalizes the paperwork and completes the transaction. homeFree provides assistance in this crucial step, ensuring a smooth closing process.

The Value of Listing with homeFree: A Cost-Effective Solution

For a fee of $797, homeFree includes all the necessary services and support you need when listing your home. This transparent pricing structure raises the question: What value do traditional realtors truly bring, regardless of whether they are full-service or discount brokerages? With homeFree, you can feel empowered and supported throughout the entire process, without the financial burden of commissions.

homeFree stands as a trailblazer in the real estate industry, empowering homeowners to take control of their real estate transactions. By providing a fully-supported private sale platform with no commissions or hidden costs, homeFree revolutionizes the way homes are bought and sold. Compare homeFree with discount brokerages to make an informed decision that puts you in the driver’s seat and saves you thousands of dollars in commissions. Contact homeFree to learn more and get answers to any additional questions you may have.

Some common questions you might have

Are homeFree homes on the MLS?

  • No, as then commissions would be owing

Can I list with homeFree and a realtor at the same time?

  • This would defeat the entire brand promise and advantage of selling with homeFree.  When you sell with homeFree you have a huge pricing advantage as you don’t need to pay commissions.  It doesn’t make sense to price your home the same on homeFree and the MLS.  Plus, on the MLS you need to price your home $20,000 higher to net the same money into your pocket upon sale compared to selling with homeFree.

Why would I choose homeFree instead of a realtor?

  • Great exposure – with all our marketing and support tools, buyers will find your home here
  • Save thousands in commissions – price your home more competitively to sell faster or keep the commissions yourself.  Either way, no middleman taking $20,000 from the seller and/or buyer?
  • homeFree offers all the marketing and support of a realtor.  The only difference is you show your own home, and who knows it better?
  • Set your own schedule for showings rather than being at the mercy of a realtor and buyer’s schedules.

Lastly, many sellers worry about paperwork. No matter how you sell your home– privately or with a realtor, it is a lawyer who finalizes the paperwork and completes the transaction for you (not a realtor).Once you have an offer, reach out to our legal partner and they will help you with every detail to ensure a smooth close to the sale

Courtesy of Whatever Else Marketing

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With homeFree, it’s easy! Finally, a platform that connects buyers and sellers. Offering support and service every step of the way, we save you money and give you back control.
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The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA.

* Only when the buyer comes direct, otherwise the seller may choose to negotiate a commission with the buyer’s agent.

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