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I read a little bit and still don't really understand how they can do it for free. I am doing a FSBO in 2 weeks so I am going to give it a try using that service.
Do you like their style because they say free mls listing or have you actually used them?
I ask because when I first heard about them I attempted to list one of my personal properties on there (I will do this when I hear of new services like this so that I am educated about what they offer) and it was not easy getting it on, I never got confirmation and then it was eventually kicked back.
I am pretty good on the computer so if I had trouble it is not an easy site to work with. This was going back a while so things might have changed.
I read a little bit and still don't really understand how they can do it for free. I am doing a FSBO in 2 weeks so I am going to give it a try using that service.
I will. I am going to do it on forsalebyowner.com and im going to try out this iggyshouse thing. I'll post about the process once in about 2 weeks.
I will say thanks to the OP who brought this up as I had never heard of it before. I was just going to go on forsalebyowner.com but I'll do them both now.
The homes listed in the MLS are with Realtors, who share half of their commission with the Agent who brings the buyer. This part of the commission is usually 3% of the sales price. So a buyer who finds and buys a home listed by iggyshouse.com on their own (without a realtor's representation) could received that commission. You would be a "BUY BY OWNER" opposite of a "FOR SELL BY OWNER" You would receive the 3% commission, minus the 25% that iggyshouse keeps for their expenses, when the home closes.
Buying without representation is very risky. It's like preparing your own taxes. Sure you could do it and save the cost of an accountant, but is what you save worth what you might be loosing by overlooking costly mistakes?
Besides, BUYING a home is ALWAYS A FREE SERVICE. The realtor that represents you and your best interests, gets paid from the selling agent.
Iggyshouse is making money from the people that buy not sell. Because the buyers will receive the buyer agent's commission.
KR
Last edited by Jammie; 07-19-2007 at 11:02 AM..
Reason: no "I'm a Realtor" comments, please
Buying without representation is very risky. It's like preparing your own taxes. Sure you could do it and save the cost of an accountant, but is what you save worth what you might be loosing by overlooking costly mistakes?
The homes listed in the MLS are with Realtors, who share half of their commission with the Agent who brings the buyer. This part of the commission is usually 3% of the sales price. So a buyer who finds and buys a home listed by iggyshouse.com on their own (without a realtor's representation) could received that commission. You would be a "BUY BY OWNER" opposite of a "FOR SELL BY OWNER" You would receive the 3% commission, minus the 25% that iggyshouse keeps for their expenses, when the home closes.
Buying without representation is very risky. It's like preparing your own taxes. Sure you could do it and save the cost of an accountant, but is what you save worth what you might be loosing by overlooking costly mistakes?
Besides, BUYING a home is ALWAYS A FREE SERVICE. The realtor that represents you and your best interests, gets paid from the selling agent.
Iggyshouse is making money from the people that buy not sell. Because the buyers will receive the buyer agent's commission.
KR
Buying a house is a free service in some states. Until my sister moved to NY, I thought the same thing.
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Iggyshouse.com
