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Buy your next property online and get half your normal commission back

Developer description

Buy a home online, save thousands. Open Listings is the free, all-in-one homebuying app. ... More

Editor's review

Published 29 Mar 2018

Real estate agents are getting nervous. In the past, they kept a lot of information pretty close to their chests and spent half their time attempting to keep the buyer and seller apart to maximise their commission. And with rates often at between 5% - 6% that's a significant amount of money that they are trying to protect. But things are changing fast. Gone are the days when it was all down to neat little photos of available properties in the real estate window. These days, according to the National Association of Realtors, 92% of buyers are using the Internet to search for a new home and 68% of first time homebuyers are those dreaded millennials who are computer savvy and used to dealing with everyday actions online. What's more, they want things to be simple and cheap with as little paperwork as possible involved.

To address this, the real estate world is changing. There are now several online startups emerging that bypass the traditional agent (along with their exorbitant fees) and simplify the process to save you money. Open Listings is one such of these. This free new real estate app for iOS serves as an all-encompassing homebuying companion that delivers as much as the traditional real estate agent but for a fraction of the cost. 

Open Listings scours the MLS and other sources to let you see every home available as soon as it hits the market. They deliver this to you via your very own personalized property feed. You can easily track your favorite listings and organize your house hunt while getting instantly updated info on the places that you may be interested in. You'll also get unbiased advice, in depth property reports and details about the surrounding neighborhood as well as all the juicy information that the agents might normally keep to themselves. Whether it’s scheduling inspections, negotiating repairs and credits or assisting with any other unexpected issues, your online agents will give you help at every step of the proceedings. If you’re shopping with a co-buyer you can share everything with them too. 

When you have decided on the properties that are up for consideration, you can manage and book a tour of the place through the app. If you can’t make an open house tour you can arrange an online tour. Open Listing has a network of local agents working for you every day so viewing is never a problem and any questions can be answered quickly and efficiently via phone, text or email. Once you've decided you want to put in an offer on a property you can submit it for review in a matter of minutes. If all goes well you can finalize and electronically sign documents securely whenever you wish. 

Open Listings doesn't jettison the traditional agent completely either. Sometimes they will pair up with a top rated local buying agent who knows the area and the market and who will be focused on giving great advice about pricing in order to get your offer accepted. Once it is accepted, your agent will remain on the case and stay with you until the purchase is complete - making the closing process easy and stress-free. Click on the 'offers' screen and you’ll always know exactly where you’re at in the closing process and what you need to do next.

So, I think you'll agree that all this sounds pretty good doesn't it? However, there's one other thing I haven't told you about yet that will probably make you sit up and take notice...the cost. Open Listings can save you thousands in fees. Let's assume that you agree to a purchase price of $750,000 for your new home. The typical buyer's agent commission - subject to a $5000 minimum - is 2.5%. This would normally work out to a commission fee of $18,750. Open Listings will give you a commission refund of half that amount back. That's $9,375 to spend on other things. What's more, you get the benefit of all the other services that they offer. Sounds pretty good to me. Open Listings is available for free download for iPhone and iPad on the App Store right now.  

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