Two homes, nearly the exact same, were listed for sale in Redmond at the end of August, 2016. One seller used Faira for free, the other an agent. Let's take a look at the results:
You work hard to find the right house for your clients. And we know how much effort it takes to make an offer. That’s why all homes listed on Faira.com offer buyer’s agents the standard 3% commission. In a typical month, Faira brings over $100,000+ in commission to buyer’s agents.
While it’s true that buyers can make an offer on Faira directly, most use an agent. It only takes 60 seconds to submit an offer on Faira.
Our technology helps you save time. How much time have you wasted writing offers for houses that already have 10 other offers? How many days have been spent fighting bidding wars on houses you didn’t win? All that effort, with zero return.
On Faira, only a price is needed to place an initial offer. You submit your offer to the seller online, and only if it’s accepted do you write up a full contract. This streamlined process has proven to be a huge time saver, especially when there are multiple offers.
Selling a home is a big deal. It’s also a notoriously complex, stressful and expensive process.
At Faira, we've reinvented the experience so it's simple, modern and transparent. It's also cheaper: there is no 6% commission. In fact, using Faira is completely free for sellers.
The Seattle real estate market is frustrating for buyers, that’s for sure. Every time I turn on the news there is another report on Seattle housing and the high demand that is increasing competition and prices. But there’s more to the problem than just supply and demand. There’s a problem with the process.
Many home buyers have spent thousands of dollars on home pre-inspections only to lose out in a bidding war. Others have spent hours with their agent writing up offers that ultimately get rejected. Frequently, offers that are submitted with excitement and hope are met with no feedback from the seller. Not a good experience, right?
Three years ago, Kamal Jain made an offer on a home in Bellevue. It had a small creek in the backyard and he imagined himself spending countless hours enjoying it while pondering economic theory and inventing new business models. The creek was important to him and he was willing to pay for it. He made an offer above asking and hoped for good news.
The team at Faira is working hard to create new alternatives to the conventional home sales process. We have made some significant changes in our process to increase transparency and simplify the transaction.
One of the main questions we get is: Can I use Faira with my agent? The answer is yes! Please read on to learn how you can use Faira on your own or with an agent to buy or sell a home.
Selling with Faira
Agents can provide market intelligence, emotional support and offer personalized advice on how to prepare your home to sell. Some sellers need this guidance. Faira gives you a choice. If you want this support, bring an agent. If you don't, you can use Faira free as a seller!
With or without an agent, Faira's process adds value:
- Offers are transparent on Faira's website so all parties know the timing and value of the offers submitted.
- The inspection, title report and seller's disclosures are all posted on the website for potential buyers to review.
- There is no earnest money so the contract is simple.
It's been almost 2 years since I sold my house in Chicago...and it still hurts. I made a mistake in the process that I regret and it cost money, time and stress. I'm writing this post with the hope that I can help others avoid making the same mistake I did.
Faira, the ecommerce site for homes, announces the launch of its new buyer program, Faira Offer Assist (https://www.faira.com/offer-assist). Faira Offer Assist rewards home buyers for finding their own home by paying them the buyer’s agent commission at closing. As an example, on a $500,000 home with the typical 3% agent commission, buyers will receive $15,000 at closing from Faira.
Seattle is a hotbed for real estate tech. We are home to popular real estate sites like Zillow and Redfin which have changed how people shop for homes. Many people ask us, "How is Faira different than Redfin and Zillow?" There's a big difference and I'll explain.