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Mls mailings11/10/2023 ![]() Services - such as transaction management, 3D walkthroughs, professional photography, having an agent review an offer and handle all the sale paperwork, or online ad campaigns - can be added à la carte. The company also offers premium and platinum plans that cost up to $2,999, depending on the level of assistance they want. Customers who select its basic plan list for free and pay $599 when their home sells. ![]() So, how does it work? If a homeowner wants to list their home through HomeLister, they enter an address on its site and then a system will walk them through a listing process. Ultimately, the goal is to be in all 50 states. HomeLister currently operates in 17 states, with plans to expand into six others - including South Carolina, Illinois and Michigan - in 2022. And today, the company is announcing it has raised $10 million in a Series A round of funding co-led by M13 and Homebrew, bringing its total raised to date to nearly $15 million. To date, HomeLister says it has helped sell more than 3,750 homes totaling over $1.9 billion in transactions and saving its clients collectively an estimated more than $77.5 million in equity. So it’s no surprise that homeowners and investors alike have been drawn to the company. The traditional model of an agent taking a 6% commission is viewed by many as antiquated. It felt incredibly unfair and I was shocked at the economics of a traditional agent on a sale. ![]() “My agent was great, but not really worth 25% of my equity for 15 hours of work. It blew my mind,” McLean, a software engineer and real estate developer, told TechCrunch. “Ultimately, I ended up writing a commission check that was more than 25% of my equity at closing. Her home sold in less than a week at the price she had set in a double-ended deal allowing her real estate agent to keep the full 6% commission. However, I found myself doing most of the work for the sale - showing preparations, coordinating showing times, researching home comps in the area and setting the initial sale price,” McLean recalls. “ I worked with a top-notch agent who helped me to purchase my home. By automating the sales process, HomeLister says it “fixes the cost of the sell-side agent,” allowing sellers to save $21,000 on average and shortening the median days on market from 16 days to 9.ĬEO Lindsay McLean started the Santa Monica, California-based company in 2015 with attorney and real estate broker Jennifer Stein, after her own home-selling experience. The end goal is to give sellers more control of the sales process and a way to keep as much of their equity as possible. While there are a number of sites - such as Redfin - that offer lower commissions, the fact remains that many homeowners would still love the option to list and sell their homes themselves, with a little help from real estate professionals.Įnter HomeLister, a digital brokerage and real estate site that gives homeowners a way to list and sell their properties online, with support. Depending on the amount of equity a seller has, the commission can make up a significant chunk of any proceeds from a home sale.įactor in housing markets where there is a shortage of inventory and houses are flying off the market, it can be even harder to swallow giving up so much money in commission. And for a home that sells for $1,000,000, the commission would be $60,000. For a home that sells for $500,000, it amounts to $30,000. Most real estate agents charge a commission - in many cases up to 6% of the sale price of a home - for listing and selling a house on behalf of a homeowner.įor a home that sells for about $170,000, this commission totals just over $10,000.
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