According to Omaha.com, “The Omaha-Council Bluffs area is among the bulk of metros across the country where home prices are rising, as homebuying demand grows locally even as the supply of for-sale houses keeps falling. According to a second-quarter report released Tuesday by the National Association of Realtors, the median sales price for an existing single-family home in the Omaha-Bluffs market was $163,500.”
That’s up 8.4 percent over the same time last year and slightly higher than the national 8.2 percent jump.
As prices rise and competition for a houses grow, we are seeing technology and competition come together for the benefit of potential homebuyers and renters find properties.
There is a new technology player called Zumper. According to their website, “Zumper is a small and wildly ambitious, venture capital funded startup tackling a problem that affects over 100 million renters across the US.” They have developed an app that allows renters not only to engage with technology to search for their next home or apartment rental, but to walk into an open house or appointment, pull out your phone, and make a binding application and offer for that unit right there. Who needs a real estate agent?
Which leads me to the thought that the real estate industry is going the way of the stock brokerage industry.
There is fierce competition between boutique brokers, full service brokers, and traditional real estate agents.
Just as with stock brokers, customers are saying they don’t need all the services provided by the real estate agents, and don’t want to pay for them. With stock brokers, customers didn’t want to pay for all the services including research. They just wanted to buy and sell stock.
How much can a seller expect to pay in real estate commissions? There are no regulations governing commission fees, so they vary. Fees are generally 5 to 6 percent: half goes to the buyer and half goes to the seller.
A boutique broker has a lower commission rate. Some real estate offices may offer a sliding scale commission of between 2.5 percent and 5 percent.
Redfin, now offers buyers lower commission rates than usual if they live in Washington D.C. The company cut their commission rates from 1.5 percent to 1 percent to attract more sellers to choose their company, when they sell their home.
In this competitive environment, it makes sense for a realtor to get close Styl Properties, Inc. We know for example:
Styl Properties, Inc. is here to help homeowners out of any kind of distressed situation. As investors, we are in business to make a modest profit on any deal, however we can help homeowners out of just about any situation, no matter what! There are no fees, upfront costs, commissions, or anything else. Just the simple honest truth about your home and how we can help you sell it fast to resolve any situation.
Give us a call today at 402.909.0608 to let us know what YOU need help with!