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Real Estate, Home Selling

Why Faira Brings You 35% More Home Buyers

When you list your home with Faira, your home is accessible to more buyers. Really? How?

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To explain, let's take a look at the stages a typical homebuyer goes through. It's not like a person wakes up one day and decides to buy a home. For many people, the decision to buy a home is a big one and takes a long time to evolve. Often, before a person is actually in the market to buy, they casually visit open houses. At this stage, they do not yet have a buyer’s agent. They are just looking around and testing the market.

 

Now let's compare their experience when they come to your open house, in a conventional process and in a Faira process.

In the conventional process, since these buyers do not yet have an agent, they are an opportunity for the agent who is hosting the open house. Your agent is motivated to represent these agentless buyers in order to make twice the revenue. The agent has the opportunity to make money on the sell side of your home – since eventually it will sell; and also on the buy side by representing these agentless buyers whether they buy your home or another home. So your agent's incentives would be split in the conventional process.

Now, let's look at the experience of  these agentless buyers in the Faira process. These buyers will see that they can save 3% by buying your home now. (Faira gives agentless buyers a 3% discount). The 3% savings can move these buyers across the fence to make an offer. So you may get an offer from an agentless buyer who visits your open house.

Here is the best part, even if an agentless buyer’s offer is not the winning offer, the sale price is pushed higher, because these buyers were able to participate in the offer process without an agent. Indeed, 35% of Faira offers are from agentless buyers, and have contributed to higher sale prices for the seller.

In a nutshell: With Faira you get more buyers who make offers which leads a higher sales price for you, the seller.

You can see how Faira's process has worked for sellers by taking a look at our home listings. On any listing, scroll down to see the offer history. 

 

Kamal Jain

Written by Kamal Jain

Kamal is the CEO and Co-Founder of Faira.com. A technologist and economist, Kamal specializes in designing business models for the internet, which he did for both Microsoft and eBay. Kamal now wants to align the interests of home buyers and home sellers with Faira.

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