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Home Selling, Negotiation

The Science Behind Faira

You may be wondering, why is Faira able to make home selling free?

Here's the reason: Faira is anti-complexity.

Complexity makes buying and selling a home more expensive for everybody involved. Faira makes home sales simple, saving sellers thousands of dollars in the process. So, when it comes time for a buyer to make an offer, there is no complexity. Here are three reasons why Faira is simple and free for sellers:

#1 Transparency reports 

More information attracts the right segment of the market. Since different buyers have different risk profiles, more information about a home levels the playing field. More information raises buyer’s confidence, which increases the chance of buyers making an offer.

In economoic theory, this is known as the Linkage Principle. The Linkage Principle says if you are selling something, the more information you provide about that product to the market, the higher the chance of selling it at a higher price.

#2 The online offer platform 

Faira displays all the offers on a home right on the listing page. Traditionally, agents may bluff about potential offers. There is no place for a bluff in the Faira process. Serious offers only!

The Faira platform makes it easy to make an offer online but we also take steps to ensure the buyer is serious by holding a $500 hold on their credit card which is only charged if their offer is approved by the seller.

#3 No earnest money deposit 

Traditionally, preparing an offer could take over half a day. A large portion of the paper offer process involves protecting earnest money with contingencies. On Faira it takes 2 minutes to make an offer online. Complicated processes lead to friction. Faira eliminates friction with the online offer platform and thereby gets the seller the most buyers. Agents can still include contingencies in the purchase and sale agreement.

To learn more about selling your home with Faira, call 1-800-571-FAIR.

 

Katrina Wisner

Written by Katrina Wisner

Katrina is the Director of Marketing at Faira.

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