Start-ups are a combination of excitement, fear, enthusiasm, and optimism. Homeward Realty is no exception. So what is Homeward Realty, and why launch it now? Here we go!
In the fall of 2015 I had somewhat of an epiphany, or maybe I just couldn’t sleep, and while my mind was racing, stumbled upon something I thought would work. Regardless, I had this idea. Small, but powerful. Why do real estate companies charge based on a percentage model? Do I do any more work or spend any more marketing dollars on a $400,000 home than I would on a $200,000 home? The answer of course was no. Then why am I charging 2x more? It made no sense to me. That’s when I begin to realize, the real estate brokerage system is broken. So what could I do about it?
I had 3 options:
1. Continue doing what I’ve been doing and charge everyone a percentage regardless if it reflected the work I put in.
2. Charge a very small flat fee, but provide no service or marketing whatsoever.
3. Develop a new model.
I chose 1. Just kidding, of course it was 3. So what is that new model? Here it goes…
First, charge a flat rate for listings: $4,900. That’s Homeward Realty’s cut. Based on the time, expertise, liability, marketing dollars, etc. that I have, that is a very fair price that would be extremely cheap compared to what most companies charged. I would also need to charge a 2.4% fee so I can pass that on to the buyer’s agents. Let’s face it, buyer’s agents work very hard, and we must offer them an incentive to show our listings.
Second, provide a full service listing with over-the-top technology and marketing platforms that not only match the competition, but blow them away. All the while taking care of clients with a personal dedication of always working hard and telling the truth.
So that’s basically it. Sure there are a million other things that we are doing, but those are the basic two business models that go into Homeward Realty. I’ll have more details as we continue along this journey together. But remember this, You are the Hero in our story. We’re just here to guide you and save you money. Thanks so much for stopping by.