Virtual Real Estate Brokerage Launches in Minnesota
BuyerCurious.com, the first real estate website to make home buying possible over the internet, announced today the launch of Empower Realty, the industry's first online real estate brokerage. The new combination of Empower Realty powered by BuyerCurious.com's patent-pending technology reduces real estate transaction costs for consumers by as much as 45%. Through Empower Realty's website, home buyers can initiate electronic offers with the help of licensed professionals and earn a commission rebate on most homes available for sale in the state of Minnesota.
By initiating a home offer online through Empower Realty's website, buyers of a $300,000 home listed for sale on the MLS can receive up to $4000 cash back at closing. Sellers can pay as little as 4.25% for full service listing compared to 6-7% often charged by conventional real estate firms. In addition, both buyers and sellers benefit from entirely paperless negotiation, ready access to expert advice, automated real time progress updates, and an electronic deal room to coordinate activities through closing.
“Today's buyers and sellers have grown up transacting everything else in life online,” said Jim Lesinski, CEO & Principal Broker of Empower Realty. “With information so readily available on great search sites like Zillow, Trulia, and Realtor.com many consumers know what they want to buy even before they contact an agent. As such, there is no reason consumers on either side of a deal need to pay as much as they do for a real estate transaction.”
A home buyer who has identified a target property builds the first draft of offer terms online through Empower Realty's website, EmpowerRealty.com. The draft is then transmitted electronically to Empower Realty's team of licensed real estate brokers for review. Terms are discussed in a private chat room and modified as necessary. When the buyer is ready, terms are released electronically to the selling side for online, paperless negotiation. The buyer and Empower are made aware of offer receipt and any counter-offers simultaneously, in real time via automated voice, text, and email. Once agreement is reached, all parties gain access to an online deal room to coordinate activities and manage documents through closing. In exchange for the buyer's contribution to the search and offer-making processes, the buyer receives a commission rebate from Empower Realty ranging from $1000 - $10,000 based on the final selling price of the home. Buyers can reserve a commission rebate on any property by requesting showings through Empower.
Sellers who choose Empower Realty's full service listing package receive all the same benefits of online negotiation as buyers. In addition, in recognition of the importance of valuing a property correctly, sellers receive the added benefit of three independently performed value assessments prior to establishing a list price. Valuation assessments are performed by agents local to the seller's property who are not affiliated with Empower Realty. Buyers who price their home within 103% of market value can list for 4.75% commission. And, if Empower Realty on its own accord successfully attracts a buyer, Empower Realty will provide a cash rebate to the seller of an additional 0.5%.
“Our mission is to raise customer satisfaction to a level comparable to other reinvented industries,” said Lesinski. “Today's consumers don't want to watch their real estate transaction from the sidelines. Our technology puts the consumer in the driver's seat and gives them the opportunity to benefit economically from their involvement.”
Empower Realty is a licensed real estate broker in the state of Minnesota. The company plans to expand its service area to several new states in the spring of 2014.
About Empower Realty
Empower Realty is a full service residential real estate firm that uses technology to lower the cost of buying and selling real estate. Buyers who contract with Empower for the purchase of a home benefit from the power of the internet and also receive a commission rebate at closing on eligible properties. Sellers receive full service listing support and electronic convenience at significantly reduced commission rates relative to conventional real estate firms. Empower Realty is a wholly-owned subsidiary of DealCurious, LLC and a licensed broker in the state of Minnesota.
BuyerCurious.com is changing the way people buy and sell homes. The BuyerCurious.com platform provides a safe, secure online environment for homebuyers and sellers to negotiate offers, collaborate with advisors and dramatically reduce the cost of buying or selling a home. BuyerCurious.com is a service of DealCurious, LLC headquartered in Excelsior, MN, a suburb of Minneapolis. For more information, visit www.buyercurious.com.
SOURCE: BUSINESS WIRE©2014 Business Wire