Homie is a Utah-based broker, offers consumers flat fee listing savings and buyers refunds.
Homie offer listing savings ($199 advance, plus $1,299 at closing) and buyer’s refunds ($5,000 subtracted from Buyer’s Agent Commission) for select Utah properties.
Homie is a consumer-focused real estate agent that successfully represents consumers across Utah and offers sizeable savings. Homie agents are salaried client-service focused employees who are not motivated by commissions.
Homie service includes posting home on the MLS and MLS Aggregator services, professional photos and 3D images in addition to all typical services offered by a traditional real estate agent. If a seller accepts an offer from a buyer represented by Homie, a $1,299 buyer transaction fee is added, instead of the full buyer agent commission (2.5%-3%) amount advertised on the MLS.
Homie claims that Homie-to-Homie incentive favorably lowers overall transaction costs, but it also requires the buyer to accept the potential downside of dual representation.
For buyers, a flat $5,000 buyer’s refund savings may not work as well for higher-priced properties. For example, if there a 50% buyer’s refund offered by another local agent, the amount can reach $15,000 for a home valued at 1,000,000 USD; in this case, $5,000 is only third of the amount a buyer can potentially receive compared to a 50% refund savings. Still, $5,000 buyer’s refund offered by Homie is a substantial amount that results in legitimate savings to buyers.
Overall Homie offers an excellent proposition to Buyers and Sellers alike.
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