Virtual Real Estate Brokerage Launches in Minnesota
By initiating a home offer online through Empower Realty's website, buyers of a $300,000 home listed for sale on the MLS can receive up to $4000 cash back at closing. Sellers can pay as little as 4.25% for full service listing compared to 6-7% often charged by conventional real estate firms. In addition, both buyers and sellers benefit from entirely paperless negotiation, ready access to expert advice, automated real time progress updates, and an electronic deal room to coordinate activities through closing.
“Today's buyers and sellers have grown up transacting everything else in life online,” said Jim Lesinski, CEO & Principal Broker of Empower Realty. “With information so readily available on great search sites like Zillow, Trulia, and Realtor.com many consumers know what they want to buy even before they contact an agent. As such, there is no reason consumers on either side of a deal need to pay as much as they do for a real estate transaction.”
A home buyer who has identified a target property builds the first draft of offer terms online through Empower Realty's website, EmpowerRealty.com. The draft is then transmitted electronically to Empower Realty's team of licensed real estate brokers for review. Terms are discussed in a private chat room and modified as necessary. When the buyer is ready, terms are released electronically to the selling side for online, paperless negotiation. The buyer and Empower are made aware of offer receipt and any counter-offers simultaneously, in real time via automated voice, text, and email. Once agreement is reached, all parties gain access to an online deal room to coordinate activities and manage documents through closing. In exchange for the buyer's contribution to the search and offer-making processes, the buyer receives a commission rebate from Empower Realty ranging from $1000 - $10,000 based on the final selling price of the home. Buyers can reserve a commission rebate on any property by requesting showings through Empower.