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Home Selling

Case Study: Redmond Ridge

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:

Redmond Ridge #1
Sold with Faira

Redmond Ridge #2
Sold with a traditional brokerage

redmond-ridge2.jpeg

 Listed on 8/24 for $750,000

Listed on 8/25 for $839,000
Sold on Faira: $855,700 Sold: $839,000
Days on market: 7 Days on market: 7
Previous sale: $532,694 in June 2012 Previous sale: $579,266 in Nov 2012
Go to Faira listing  See this home on Redfin
Commission paid (buyers agent) 3% = 

$25,671

Commission paid (buyer and seller agents) up to 6%: $50,340
   

Redmond Ridge #1 sold on Faira for $40,000 more than Redmond Ridge #2. This was actually $50,000 better if we compare it to the last sale price.

In fact, the seller of #1 was hoping for $800,000, but got $56,000 more and also saved $25,000 in commission, thereby making a net gain of $80,000+ using Faira. She was interviewed by Seattle's CBS affiliate KIRO - watch the story:

 

Here's why Faira delivered a better outcome:

  • Faira's technology allowed buyers and their agents to easily submit an offer online
  • Every buyer received feedback on their offer in real time
  • The Faira process brought 40% more buyers to this home because they could submit an offer without using an agent. 

Faira helped the buyers by giving them all the information on this home upfront including a full independent home inspection, title report, seller disclosures and HOA documentation. Because this critical information was available for download right on the Faira listing, buyers could feel confident making their best offer.

For the seller, Faira provided all the services needed completely free including the MLS listing, professional photos, home inspection, title report and marketing materials. The seller of home #1 saved 3% on commission and Faira's technology enabled the seller to get the true market value for their home.

Interested in learning more about Faira? GIve us a call at 1-800-571-FAIR or email hello@faira.com.

Start your listing

 

 

Katrina Wisner

Written by Katrina Wisner

Katrina is the Director of Marketing at Faira.

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