EconoBroker.com Cuts Selling Costs

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Aimed especially at small-volume home builders, companies without a dedicated sales staff or builders who do mostly spec homes, EconoBroker.com lets builders list homes on the local MLS (Multiple Listing Service) for a flat fee.

October 01, 2000

Aimed especially at small-volume home builders, companies without a dedicated sales staff or builders who do mostly spec homes, EconoBroker.com lets builders list homes on the local MLS (Multiple Listing Service) for a flat fee. And since 80% of home buyers are working with realtors, the service is an innovative new vehicle for builders to reach those buyers.

Founder and company chairman Tom Condon says that Econobroker users can save thousands of dollars in home selling and marketing by paying less than $400 per listing, compared to the 2.5-3.5 percent of selling price charged by real estate agents.

"Small to medium-sized home builders who don’t have the resources for in-house sales and marketing used to have only one alternative -- to list their homes with a full-commission Realtor," says Condon. "EconoBroker.com provides that listing function for a fraction of the cost."

Begun in 1995 as primarily a For Sale By Owner listing service, the Chicago-based company began its national expansion in August 1999 and is now licensed to operate in 33 states, including the 50 biggest metro areas in the United States.

In addition to receiving MLS exposure and having complete control over the home selling process, users of EconoBroker.com also receive exposure on MLS-affiliated websites such as Realtor.com, Homeadvisor.com and Cyberhomes.com; a professional photo of their property for promotion on the MLS and the Internet; and a "For Sale" yard sign.

Two listing plans are available from EconoBroker.com, each of which allow a listing to be posted for up to one year. The Standard Homebuilder plan is priced at $395 per listing for a builder’s first five homes, and the Premium Homebuilder plan is priced at $295 per listing for the sixth and subsequent new homes.

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