Walk Through, the blog of the New York Times, has news of a real estate startup that plans to offer home buyers 75% back on their buy-side commission if they do most of the work. The company, Buysiderealty, launched today in California, Florida and Illinois.
According to the post, “The buyer logs on and gets preapproved for a loan through Chase, the mortgage lender owned by JPMorgan Chase. The Web site informs buyers of open houses and will schedule one for property listed in the local Multiple Listing Service. When the buyer is ready to make an offer, he fills out an online form and a BuySide agent prepares a written offer and submits it.”
Here is more from the company itself on how it works.
With technology offering easier ways for consumers to browse homes for sale, the enticement – especially on homes in those three states where prices are very high – is powerful.
