The average commission for a Real Estate Agent is 3% of the price of the transaction, multiply that by the 2 Real Estate Agents generally used per transaction, one for the buyer, one for the seller and you’re up to 6%. Add another 2% for title fees and 8% of the sales price is down the tubes.
With Fuzzbo.com, people in England can list their homes over the internet on their sit for 40 pounds, right now they are offering a sale where people can list their homes online for only 25 pounds. This can potentially save English homeowners thousands of pounds per transaction. It is stated on the website that “every year consumers in the UK pay estate agents in excess of £3 billion to sell their homes.” There is clearly a market for people looking to cut that margin.
Fuzzbo.com In Their Own Words
We are an internet based property marketing company. Our name may be quirky but we are very serious about what we do.
In 2006 private ‘ sale by owners ‘ accounted for 9% of UK house sales – a figure that is steadily rising as more & more people utilise the internet to market their property, as an alternative to paying ever increasing estate agents fees.
We passionately believe that by using our marketing expertise and by following a few simple guidelines you can sell your own property – and by doing so save yourself thousands of pounds in estate agent’s fee.
Why Fuzzbo.com It Might Be A Killer
This can be a godsend for people in tight situations who may not have been able to retain any money from the sale of their house had they paid the full 6% commission. Savvy invesors that have real estate smarts may be able to take advantage of sites like this and boost their profit margins.
Some Questions About Fuzzbo.com
This argument has been going on for a while in the US as well, are Real Estate Agentss overpaid? Whether you believe so or not, most people would agree that it is important to enter into one of the largest financial transactions a person will enter in their life with a trained professional. Who will be there to help if a real estate transaction goes bad through this service? Who can be held responsible?
