As mentioned previously, Yumi and I are trying to fix up our house to sell it. (and then buy a bigger house) We’ve done a lot of work, but the more we do, the more it seems we have left to do.
This morning a friend emailed me a link to a site that could potentially help anyone buy or sell a house.
For sellers: Iggy’s House is a FREE service that lists your house on the MLS. (the MLS is a huge database of houses on the market) Usually this can only be done through a realtor. Iggy’s House acts like your realtor but charges you NOTHING. Gone is the 8% commission. I don’t mind paying someone to list the house and do a little advertising, but 8% is just a little too much. We pretty much decided to do a For Sale by Owner, but that would mean not getting on the MLS. Iggy’s House solves that problem at no cost.
For buyers: Iggy’s House’s sister site BuySide Realty is the opposite. It acts as your realtor when looking for a house. The neat thing is they pay YOU 75% of the commission they receive from the sale. That is a lot of money. I am not sure if I can do the math right – 数学できないんです – but if the commission is 4% (half of 8% split between BuySide and the realtor who listed the house) then a $300,000 house would result in a $12,000 commission. BuySide keeps 25% ($3,000) and the 75% goes to the buyer ($9,000).
I did a quick search to see about their reputation. It looks pretty good. Here is one BBS for realtors about Iggy’s. You can feel the fear in the realtor’s posts (that is good for consumers). Competition in a free market is good for everyone. It drives prices down for the consumer AND the seller. It isn’t fun (at first) for the seller (I certainly understand this with our store) but it is best for everyone – especially the consumer.
Anyway, I will report back about this after testing their services a little.