Featured News

Open Listings aims to do away with real estate agents

There's a new startup in town that's aiming to take the pressure of the home buying process by letting people cut out the middleman – or in other words, the real estate agent.

Open Listings points out that two-thirds of the residential real estate market involves repeart buyers, which means that not everyone might need the services of an agent. Instead, Open Listings is touting a self-service platform with human experts available on-demand for when their expertise is really needed. It charges a flat rate fee, which means buyers can save themselves a good chunk of the standard three percent agent commission.

Open Listings believes the real estate market is spiralling out of control and that commissions are becoming overly expensive as they rise with the cost of homes.

“With technology today, you can find the house you want and know the price is good. But what you can’t do is buy the house without an agent,” said Open Listings co-founder Judd Schoenholtz to Techcrunch. “You’re doing 80 percent of the work, but you’re required to have an agent present.”

Using Open Listings, it's possible to start with or without a particular home in mind. Simply search for a home from their listings, or find one using other sites and applications. Open Listings provides an in-house team who can organize viewings and they can also show clients what a competitive value for each property they're interested in should be.

Once you've found a home, you can make an offer directly through the site and Open Listings will submit it to the seller. The service is totally free until the sale has been made – only then will you be charged the flat $5,000 fee.

According to Schoenholtz, Open Listings isn't really a competitor to OpenDoor, a service that recently raised $20 million. Open Door is designed to serve sellers in underserved markets, whereas Open Listings is focused on busy markets like California.

Mike Wheatley

Mike Wheatley is the senior editor at Realty Biz News. Got a real estate related news article you wish to share, contact Mike at mike@realtybiznews.com.

Recent Posts

Killer Tips For Preparing to Get a Home Loan

Most people need to get help from a lender to buy a home, and applying…

7 hours ago

Why Overpricing Your Home For Sale Can Be A Disaster

Correctly pricing your home is the most crucial step in your marketing plan. If you…

9 hours ago

Nimble CRM Making the Life of a Realtor Easier

The modern real estate agent is a busy professional with a lot to manage. Keeping…

12 hours ago

How to move Intelligently When it is done Urgently

Moving from one house to another is not an easy task. It is even less…

1 day ago


Better Homes and Gardens Real Estate Alliance Group, with offices in Bismarck and Minot, N.D.,…

1 day ago

How to Know a Roof Replacement is Needed

If you find what looks like damage to your roof, you will probably be concerned.…

1 day ago