This Flat-Fee Brokerage Wants to Disrupt Denver’s Real Estate Market
Utah-based real estate brokerage, Homie, promises to have your back as a homie should. The company calls itself “disruptive” and wants to use technology to streamline homebuying. This reduces fees and grants the real estate company the ability to charge a flat fee of $3,000 instead of the typical 3% sales price commission. According to the Denver Post, three other brokerages have attempted this in Colorado already. But Homie has already climbed the ranks in Salt Lake City and is now Utah’s leading brokerage. Homie officially launched in Colorado this week. Homie’s agents are employees, not contractors.
Homie agents are employees rather than contractors and a customer is given a dedicated agent, avoiding the practice at some flat-fee brokerages of handing consumers off to different specialists through the process. Except for home showings, now out of favor anyway during the pandemic, the brokerage is full-service, rather than a la carte or bare-bones, Millan said.
Buyers using Homie can receive a rebate of up to $5,000 and Homie sellers are allowed to determine what commission they want to pay the agent who brings in a buyer. The company recommends paying 2.5% to 2.8% of the sales price, which should help keep the buyer agents engaged.