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Get 50% of the Agent's Commission When Buying a House w/ Home Bay

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I am looking to buy a home/condo in SoCal and found this company, Home Bay, that splits their commission with you 50/50. Normally, when you buy a house, the seller pays a big commission (2.5% - 3% of the purchase price) to your agent. If Home Bay is your agent, they split it. I have never heard of this before so it sounds like a good deal.

Note: Only available in California, Texas, Georgia, Illinois or Florida

You can also list your property for a flat fee of $2,000, paid at closing.

Browse available homes here [homebay.com].
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Created 02-15-2018 at 02:05 PM by buffalowingz
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5 Comments

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Joined Sep 2004
L5: Journeyman
638 Posts
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#2
There are many companies offering "discount" real estate services. Many are referral companies that just "refer" you to a local realtor who pays them 25% of the fee they receive. Others offer to list your property on the MLS or on realtor.com for a low fee and that's it....but they, of course, offer additional services, for a fee.

Selling your house is not as easy as just listing it or putting it on the MLS. Buying a home requires (if you are smart) inspections and tests...as well as all the right documents...and due diligence about what's going on in the neighborhood that might not be obvious.

If you use any of these services, make sure you understand what you are signing up for and be very careful how long you are committing to be tied to them (in case it doesn't work out and you want to go to another service or list with a local realtor). In some areas, many listings are "pocket listings" that never get to an MLS or Realtor.com/Trulia/Zillow.

I'm not advocating using a full price realtor, but understand what they provide vs what the discount realtors provide....and then choose how to buy or sell a home. Don't just be tempted by what appears to be a big cost saving without understanding what you will and won't get for that tempting cost.
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Last edited by ghstudio February 15, 2018 at 02:20 PM.
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Joined Jul 2008
L5: Journeyman
591 Posts
130 Reputation
#3
Last home I purchased with my agent he did comps of the area just so I know what to expect and he also negotiated prices and repairs. Purchasing a home is not just about making offers and getting a kick back on their commissions. But of course depends on which agent you use.
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Joined Dec 2004
L6: Expert
1,104 Posts
179 Reputation
#4
Agreed with all the above. My agent was a pitbull and got me my house 20k less than asking by proving issues, permits not being pulled for repairs, and comps in the area.
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Joined Oct 2017
L4: Apprentice
395 Posts
161 Reputation
#5
Redfin.com is one that has a 1% fee.
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Joined Aug 2008
L3: Novice
144 Posts
68 Reputation
#6
Realtor are scum, say you buy a $150k house and someone else buys a $300 k house, they do the same $ucking work but one earns twice as much for tbe same work?
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