Buyer Frustration Fuels Innovation
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?
Buyers: A better process awaits!
In case you are one of these frustrated buyers (or fear you may become one), I want you to know we’re working on it! All we do at Faira is think about how to improve the home sales experience, listen to buyers and sellers and translate what we’ve learned into Faira.
Faira is a Kirkland-based startup, designed to improve the buying experience. Here’s how we make buying a home better:
The inspection is already done!
It's posted on every Faira listing so buyers know the home's condition upfront. All inspections are conducted by licensed, independent home inspectors.
Submitting an offer takes less than a minute.
You can even make an offer on your phone! This saves hours of time for agents and buyers.
Every offer gets feedback
Because Faira publishes all offers online, you'll know where your offer stands. It will either be accepted, declined, waiting for seller review or outbid. Using Faira, you get feedback, which means you can take action.
Escalations are private
When an offer is submitted with an escalation clause on paper, your maximum price can be exposed to the seller. With Faira, your escalation amount is private and will only be triggered if there are competing offers.
You don't need an agent
Buyers with agents can participate in the offer process. In the conventional process, buyers who make an offer on an MLS-listed home need to have an agent to submit an offer. Otherwise, they are represented by the seller’s agent, which can cause a conflict of interest. With Faira, buyers without an agent can submit an offer and get a 3% discount on the price!
So, want to buy with Faira? We're adding new listings in Seattle every week - sign up to see them first:
Sellers: It’s all on you!Now, we’ve designed this process to help buyers, but the fact is the process starts with the seller. Homeowners need to choose Faira to sell their home in order for buyers to use our modern process.
Faira is free for sellers and takes care of everything from the professional photos and MLS listing to the sign posts and flyers. The average savings for sellers is $18,000!