Author Topic: My real estate startup expands to CA from WA  (Read 1501 times)

Landlady

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My real estate startup expands to CA from WA
« on: March 15, 2017, 01:31:55 PM »
Hey folks, I'm biased here, but as a mustachian and a real estate investor I think it makes sense to share with my community what I've been working on to improve property transactions.
I started working on Faira 1.5 years ago in Seattle and we've grown by 4x since last February. We've expanded to California now.

For selling:
Faira sells your house without a real estate agent - saving you 3-6%. We have an online offer system which allows independent buyers to make offers. Typically we see a 30% increase in offers over traditional MLS listings because of this openness. All offers are public, which means buyers always know their competition, which means they can counter each other. Also, all our listings have inspection reports done upfront so that buyers can't renegotiate once the home is pending- this leads to a higher transaction success rate. We make money by charging the buyer 0.5% once the offer is accepted.

For buying:
If you've found a house without the help of an agent. Maybe you found it on Zillow or Redfin, Faira can make an offer for you. If your offer wins you pay 0.5% and we give you the full 2.5-3% commission back when the house closes. The theory here is, if you did all the leg work to find the house, you deserve the commission.

The average customer saves $20,000 with us.
www.faira.com

Huma_huma

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Re: My real estate startup expands to CA from WA
« Reply #1 on: March 25, 2017, 01:40:28 AM »
This is ingesting.  I'm selling my place but just got an agent..this service seems to be what I am looking for

Joel

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Re: My real estate startup expands to CA from WA
« Reply #2 on: March 25, 2017, 03:58:27 AM »
Sounds promising. Posting to follow. I've seen a similar service offered for buyers: openlistings.com

GHG7F0

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Re: My real estate startup expands to CA from WA
« Reply #3 on: April 02, 2017, 12:11:49 AM »
I sold my place with Shopprop.com
$2995 flat including MLS. Only thing they didn't do was open house. They have a rebate credit for buying also.

tnevy4

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Re: My real estate startup expands to CA from WA
« Reply #4 on: April 05, 2017, 05:44:02 AM »
does this get a lot of use in the seattle area as I am looking to sell a home in Bremerton soon

Vindicated

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Re: My real estate startup expands to CA from WA
« Reply #5 on: April 05, 2017, 07:45:29 AM »
P2F.  Great idea!  The realtor process seems like such a waste, as currently designed.

How do you handle showings?  Are buyers able to see the home in person before the sale finalizes?

Expand to Indianapolis!  I want to move in the next year-ish.
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sisto

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Re: My real estate startup expands to CA from WA
« Reply #6 on: May 10, 2017, 05:49:48 PM »
What a great idea. We put a house up for sale ourselves 17 years ago. I had planned to use a real estate attorney to do the paperwork. We were doing this to save money from the typical CA sales scenario. We ended up working with a couple that already had an agent. They wanted to use their agent, I said fine as long as you pay the cost. It ended up that their realtor did all the paperwork so it cost us nothing from that aspect just the usual escrow stuff etc, but no commission. I remember they wanted some upgrades done to the house too, but we weren't going to pay for anything so I suggested raising the selling price so they could pull out cash to do the remodeling they wanted. Their agent had a cow over it telling me I can't change the price, blah blah blah. I was like haven't you ever heard of creative financing? They get the money back after closing to do repairs, I'm not getting the extra money (facepalm). It was all really pretty funny and in the end that's exactly what we did. Anyway sorry to digress, this is something I would have loved to have back then.
Jack of all trades, master of none