Home Selling in 11901>Question Details

Jp, Home Seller in 11901

agent vs. housepad

Asked by Jp, 11901 Wed Dec 30, 2009

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28
I sold my home by using Housepad's listing agent. Honestly, Housepad is much and much better then Realtors. Housepad charged to me $149, realtor asked to me 3% listing fee which was $16.000 I saved from sellers agent!!!! I do not think Realtors are done anything is different then Housepad's listing...Seller agents are not doing anything to sell your house. Buyer is still same buyer and buyers make their own decision with buyer agent. Who cares about listing agent? and what they do different then Housepad's listing??? Same MLS listing, same buyer, same pictures, same mortgage company,same title company,same taxes so why should I pay extra $ for sellers agent??? It;s much better have pay $149 upfront then paying $16.000 at the closing, I purchased FORSALE sign from dollar store, I paid $149 to listing with Housepad and they listed my home by next day.I recommend to everyone housepad.
2 votes Thank Flag Link Tue Feb 5, 2013
P.S. I ALWAYS pay 3%-3.5% to the selling agent and never try to weasel out of it. They won't show it if they are not getting paid, but who could blame them. I don't work for free either. If they bring me a buyer they deserve the money in my opinion.
Flag Thu Dec 18, 2014
I have not used HousePad but have used another service that does the same thing. 8 times so far and all my houses have sold within 109 days or less. 109 was my longest listing time and NO I didn't sell below market value. My sales were houses I was flipping and as a certified appraiser I did know how to price them correctly. I do admit that agents have a point about knowing how to price a home, negotiate, avoid legal pitfalls etc. BUT in my experience, each time I used a listing service it was from $175-$399, I had an average of 6-10 calls from agents. Gave agents who I recognized as legit the lockbox code, others I met for showings. I generally have 2-4 showings and I am under contract. NOT ALL HOUSES SELL THIS EASY. Some agents have nightmare listings that they work to death for nothing. But in most cases I see, the agent takes photos (usually not as many as I do), inputs the info in the MLS and waits for calls from other agents looking for that type of home.
Flag Thu Dec 18, 2014
I am also a realtor. Doesn't look like Houspad has advised seller in appropriate selling price (way overpriced). Subdivision is listed incorrectly, HOA and HOA fees are incorrect. Only one photo in MLS. Houspads doesn't have the connections, networking or database for state realtors....so it's not the same buyers. Paying 1% to Buyer's Agents (who work extra hard in this Denver market). Buyer's agents are going to have 3x the work to get this to the closing table since housepads are only inputting into the MLS incorrectly and obviously not advising the seller at all and sellers not getting back for showing info. So.....it is EXTREMELY DIFFERENT. In the long run, this seller will lose money in having to go through multiple price reductions....or not selling this home at all. FSBO's can be a "turnoff" to buyers. So, a 50-75K price reduction or a 16K savings in commission? I, and my clients wouldn't want to see your home if that's how you feel and talk about realtors
Flag Wed Jun 25, 2014
I beg to differ. I am a realtor trying to show a housepad listing, so contacting the Seller which I have gotten no response.
Flag Wed Dec 18, 2013
Renee Porisa apparently does not respect Article 15 of the REALTOR code of ethics, which states that "REALTORS shall not knowingly or recklessly make false or misleading statements about competitors, their businesses, or their business practices." If Renee persists we look forward to seeing her at her ethics hearing.

Her specific claims are easy to answer, and are as follows.

1. Housepad "does no work".

Response: This is a common claim by traditional agents who don't want to offer flat fee MLS listings. Our sellers contract with us to perform specific brokerage functions, subject to state minimum service standards. In Renee's town our standard service rate is currently $199. What's your's Renee? 17,000 + sellers have to date listed with us, and they apparently think we have some value.

2. "Realtors are the ones who are in fact doing all the work."

Response: Our sellers agree to manage the sale for the areas where they have not hired us to do so. Therefore a buyers agent has no more work than normal. In the unusual case where a seller is not cooperating, there normally is a solution once it is reported to us.

3. We are hired to list properties on MLS because our sellers want to offer a commission to the brokerage community to encourage agents to bring their buyers.

4. We offer selling programs where we are compensated either at settlement or on an up front basis.

5. Many of our sellers get signs at Home Depot or Lowes. Currently we offer a sign for $5.

6. In Pennsylvania our agency relationship is a transaction licensee. That means we are a neutral party but still owe duties to sellers as required by the state of Pennsylvania. Our sellers always have the option to switch to seller agency (seller representation).

7. Some of our sellers don't want lockboxes, others already bought them elsewhere, and yes, they have the option to order lockboxes from us.

8. "Housepad could care less if the home owner sells..." Wrongo. Note our pay at settlement option, where we would only get paid if it sells. Note also that we have been doing this since 2003, and wouldn't have 49% more business than at the 2007 market peak if our sellers didn't have a great success rate.
2 votes Thank Flag Link Tue Feb 1, 2011
You have a lot of nerve stating another Realtor doesn't respect one of the Articles in the Code of Ethics! You don't respect buyer's agency commissions. My buyer notified one of your sellers during an Open House that they had a buyer's agency relationship with me. The seller told my buyers that if they wanted to purchase their home for "X" dollars, the seller was not paying a Realtor commission. Yet the listing clearly stated 3%. What, just because I personally didn't take them thru the property that gives you (as the listing broker) the right to renege on paying the stated commission?! I am still investigating this matter with my local Board; this may not be a closed matter yet.
Flag Tue Sep 9, 2014
A few more corrections here. Housepad offers pricing assistance separately on our a la carte service list. Pay upfront or pay at settlement programs are available. Here is the actual cancellation paragraph on a Housepad listing agreement:

CANCELLATION: Seller may cancel this contract at any time, under the following
conditions. 1) Seller cancellation request must be in writing with all Sellers' signatures. 2) Seller
may not cancel this Contract when an offer has been presented and the Seller has not replied in
writing to the party making the offer. 3) Seller may not cancel this Contract if the Property is
under contract (Sales Agreement). Seller must first reject any offers and/or be released from a
Sales Agreement before the listing is canceled. The intent of this Paragraph is to prevent claims
from cooperating brokers for a due commission not being paid. If Seller requires Broker's
signature and/or letterhead confirming cancelation, Seller agrees to pay a $25 processing fee.
2 votes Thank Flag Link Mon Feb 1, 2010
And this is a scam. Even if you follow housemaids rules and guidelines they will still not cancel your listing. Betty herself admitted that housemaids online system had major issues and was not reliable. Check with the BBB and the state of PA before doing business with the company.
Flag Mon Jan 19, 2015
The link to HOUSEPAD contract's below. For their fee HOUSEPAD is legally obligated to do TWO , and only TWO things, "Broker is acting as a transaction licensee ONLY to complete these previously mentioned duties." ONE) "Seller is hiring Broker to submit the property (with its full address information) in the appropriate Multiple Listing Service and http://www.realtor.com." TWO "Broker will be making an offer of compensation, as authorized by the Seller in paragraph 5, to other brokers to find a buyer."

If you’re retired, driven and savvy, and you underprice your property, you might be able to pull this off. You essentially become a one-time real estate agent. As a real estate agent, you are legally, financially, and administratively responsible to sell your property.

>Agents, not buyers, sell properties – we have the properties, the “brick and mortar”, experience, mortgage lenders, have a realistic pulse on the market and will tell buyers whether or not that smell in the basement is from 40 years of mildew or just an old towel in the corner. Unless the buyer’s an investor – they’re not going to trust you know what you’re talking about. When an agent sees Housepad as the listing broker we know we're going to be in for trouble - because we're dealing not with the company - but with a homeowner - who hasn't had one credit hour of education – and thinks what we do is easy and straight forward. We’re not motivated to show a house that there’s not a professional on the other side of the transaction to help make it happen.

>Show the property – and I’m not going to try to scare you with those classic tales – use your common sense – you’re exposing yourself and your property to strangers – your address is out, literally over the entire globe – I recently learned to advise my sellers to remove all medicines (who’d have thought?): evidently prescription drugs are the new addiction of choice.

>Make sure you don’t get sued – and if you haven’t take the agency course on ethics, discrimination, disclosure, lead paint, property condition – you know…. All that stuff that makes attorneys mandatory in the state of New York …. Learn it - because you may not sell your house - you may lose it to a lawsuit.

> Negotiate the sale – all the terms – all the financing – FHA changes their rules, oh, every couple of months – they just changed the terms recently – so keep up.

>Price the property – that’s another item Housepad refuses to assist you with – Sales training always advises never to own the price of a property – but I tell people what I think – simply put – if you’re doing this alone – price it aggressively - be deadly honest with the condition and location. Or you’ll waste 6 months of hot marketing time.

Oh – another thing – it’s almost impossible to get out of a HOUSEPAD listing – if you hate your local agent – normally they’ll just let you fire them – I tell people up front – it you’re not happy with the job I’m doing – we’ll part ways – not a problem.

To some – this sounds like a fun challenge – something to try out and learn and conquer – sort of like I’m throwing down the gauntlet - showing agents that they're not needed. Again, you may be able to make this happen.

Either way I wish you the best of luck!
2 votes Thank Flag Link Sun Jan 31, 2010
The word 'professional' only means that person gets paid for doing work. It has no bearing on the quality of work!
Flag Wed Apr 9, 2014
The following is a correction from Housepad regarding some of the false or misleading statements below.

1. Meredith Kurz of Re/Max points to the fact that the traffic counts on Remax.com and Realtor.com are higher than Housepad.com. She does not understand that people do not list with Housepad to get on Housepad.com, they list with us to get listed on the MLS and Realtor.com. Remax.com also publishes the public version of the MLS in most zip codes. A zip code can be queried to Remax.com to see if other brokers' listings appear after Re/Max listing results from the MLS.

2. Meredith makes two false statements in saying that "typically Housepad demand(s) a one year listing" and that when a seller cancels with Housepad they are obligated to pay Housepad a commission. Not so. With our pay upfront program (most popular - $289), the listing contracts run up to 6 months. We do not receive a commission, and there is no charge to cancel the listing. Our listing contracts are available for viewing on our website.

3. Anna Bronco implies that Housepad sellers must negotiate directly. Our sellers may certainly do this if they prefer, but they also have the option available to hire an attorney to negotiate on their behalf, or pay us to do so. Whichever option they choose, we have yet to see a case where the total cost came out more than a traditional full service broker's commission.

4. Carol Bromm says that there is extra work for agents to sell a Housepad listing, and for that reason they are less likely to put our listing on the list of properties to show their client. There would only be more work for a selling agent if the seller has failed to manage their responsiblities. Therefore that objection can only be made against a particular seller who has failed to do so. In practice, buyers are the ones who normally make the list of properties to see, because agents have automatic searches for their clients set up on the MLS, which then automatically emails the client the listings matching the criteria. Beyond that, most buyers are also doing their own searches on websites that publish the public version of the MLS.

5. The success of our sellers will largely be determined by the list price and commission rate to the selling broker offered on the listing and selected by the seller. Full service brokers typically lock sellers into a contract of a certain length, which forces a seller to stick it out with the full service broker even if they are not happy, and this bumps up their success rate. Our success rate statistics are posted on ValueMLS.com. Buyers decide how much to offer based on what other choices are available to them, not the name on the real estate sign or the broker's market share. We also offer a pay at settlement program for sellers who are concerned that the house will not sell.
Web Reference: http://www.housepad.com
2 votes Thank Flag Link Thu Dec 31, 2009
Companies like HousePads bring FSBO's into the 21st century. Owners selling their own property have and always will be around. Just like agents, some are more experienced than others. Truth be told any agent arguing the point of FSBO's and the technology that they now have, probably didn't care until they became a real estate agent.

As a Realtor who has spent time, gas and money driving around subdivisions scouting for FSBO's for a buyer who has to live in a certain community...I welcome the help HousePads offers.

Realtors get business by offering professional representation in a real estate transaction. We maintain our business by providing excellence in customer service. Our repeat and referral clients believe that our level of service and the experience we provide to them during the transaction are well worth the money spent.

Submitting an offer for a buyer on a listing from HousePads gives me an automatic "in the door" to the homeowner. I see that as another opportunity!
1 vote Thank Flag Link Wed Apr 2, 2014
I am not a homebuyer in Pittsburgh, PA! Not that there's anything wrong with that. I am a Realtor in San Antonio, TX.
Flag Wed Apr 2, 2014
I just listed my house with Housepad. In 30 years, 4 states, 17 listing agents and 4 brokers I have
never NEVER had an real estate agent sell one of my homes. I have owned over 32 homes (24 of
them were rental units - the rest my personal home, two vacation homes). No one ever addresses the
very real, very strong market of buyers who - for what ever reason - will not deal with agents.
I have sold to gay couples that were insulted by agents, a J C Penny executive that was ignored by
agents, an obese women who was shunned by an agent and the women I sold to in Kansas City, Mo.whose husband was murdered and she was on TV speaking her mind. Agents refused to work
with her and told her what they thought of her. When she saw my for rent sign she demanded I sell her the house even before she saw it. She just passed here recently, still living in the house I sold her 20 years ago.
If agents do not want to show my house because I use Housepad - they then prove how unprofessional they truly are. If you are not meeting your clients' needs but fanning your ego . . the more FSBO buyers you are creating for me. Banks qualify buyers, clients find the homes on the internet, the closing company does the paperwork, the inspectors know more than any agent does by "smell" alone and no one stops a buyer from obtaining legal advise. and don't forget title insurance. If a real estate agent does not want to make $10,000 for opening a door - really, no one can help them. I have had agents refuse to show my house because they are unable to work a 4 number combo lock - maybe that is the real problem - not enough experience and confidence on their part. The bottom line is - get the buyer what they want, don't involve your short comings and
inability to take a decent photo - really agents, put the toilet lids down, don't photograph the Christmas tree or a close up of the food in the pantry.
1 vote Thank Flag Link Wed Oct 30, 2013
Thats right!
Flag Wed Apr 9, 2014
your not buying a broker, your buying a listing. plain and simple that is it.
brokers do not sell houses. buyer(s) buy houses, it is that simple.
1 vote Thank Flag Link Fri Aug 17, 2012
The answer is in your hands...it's a matter of choice and the fact that you are asking means you should probably use one. I have a very successful program that allows property owners the opportunity to sell their homes without a real estate agent and buyers a chance to work directly with the home owners and it is working very well but we live in a part of the world where most are savvy business people from other countries and can afford to do what they want with the expertise behind them. However,with that said, we also suggest using Realtors or an Attorney. If you have the time to do it yourself then ok....but most people don't, nor are they scholars in purchasing property with understanding of the do's and don't's. We have found that in some cases that the Realtors can save you money not to mention the information they bring to the table. The bottom line is no matter whether you like them or not they are instrumental in they grand scheme of things and can keep you from making a wrong decision if your an inexperienced buyer. You do have to be careful of who you choose because there are a lot of factors when choosing a home, so my answer would be do your home work on a House pad then find a Realtor that doesn't brag about his/her awards that to me is the first indication your with the wrong professional. Look for the person that is a listener
1 vote Thank Flag Link Wed Dec 30, 2009
I gave you a 'thumbs up' Carol - I just think that there's a conflict of interest when we're asked this question - I would like to let the statistics speak for themselves.

Agents get a bad rap - and sometimes deservedly so - but most times not -

We need to provide the public with cold hard facts because it's in their best interest - the very best of luck to you out there in Babylon - great place to grab a bite to eat!

Meredith Kurz LSA CBR CHMS EPRO
REMAX
1 vote Thank Flag Link Wed Dec 30, 2009
Seeing that we agents have a vested interest in whether or not you use Housepad - choose an outside source for information - say, Alexa.com that tracks viewer activity -

Click on the link below and then, to do a comparison, choose realtor.com and/or Remax.com or some other real estate website to get a little clue about what we're talking about here.

Seeing is believing.
1 vote Thank Flag Link Wed Dec 30, 2009
Why would you want to leave yourself vulnerable in the negotiating progress--consider--Your house is your home. Emotions are homebound---selling your house is a business transaction. In a business, a professional is able to best to protect your interests. A real estate professional is better at selling your house than you could be at selling your home. Consider…a talented attorney ordinarily would not retain him/herself as a client; surgeons do not perform surgery on themselves--what would you save in the long run--and why would you want complete strangers coming into your home, not knowing if they are serious buyers, qualified to purchase, etc.

Anna
1 vote Thank Flag Link Wed Dec 30, 2009
But agents sell their own houses.
Flag Thu Dec 18, 2014
Because I know the value of what MY MONEY is in. Why would I let someone who doesn't have a 100% stake in ownership of my life savings negotiate my years of saving for it? I think the homeowner should control their own earnings.
Flag Wed Apr 9, 2014
FSBO is the best way to go. Realestate agents are ok but they make their living off of your 3% or 6% commission. This is fine, but it is also legal and ethical to sell your house yourself. It is people like housepad who create bad names for owners. Avoid housepad.com at all costs. Betty L Spangler is a liar. If you try to contact anyone at housepad you will not get to talk to anyone. There is multiple BBB complaints on housepad. In my research I have also come to find out that there is repeat scams conducted by housepad and the State of PA is aware of them. Housepad is licensed to Ken Gehris and he will not respond to any calls. Apparently their real-estate license has been under review several times now for lying to customers. I also found out that the regional ethics board is familiar with the business because of unethical practices.
0 votes Thank Flag Link Mon Jan 19, 2015
I would speak to a Realtor in person before making this decision. It shouldn't cost a dime. I am sure there are pros and cons to housepad, just as a homeowner might think there are pros and cons to using a Realtor. Every home is unique and not every transaction is "cut and dry". Every Realtor has a different approach to marketing a home that's why it's important to interview a couple of Realtors. Then decide agent vs housepad.
0 votes Thank Flag Link Wed Jan 14, 2015
I agree that it is wise to contact a realtor and fully understand your options. Realtors charge a % fee, which is how they earn their living. Understandable and there is nothing wrong with it. If selling a home yourself you need to be aware of scams and unethical business practices conducted by businesses such as housepad. A realtor will know the ethical people and who to trust, whereas businesses such as housepad are only out to obtain consumers credit card information. I personally have an email stating that they demanded credit card information and they were going to share that email. Consider this as a warning for housepad.
Flag Mon Jan 19, 2015
Flat Fee MLS Listing
3% to buyers agent
Seller does all the work
AND
pays a MLS listing fee
Who would do this???
0 votes Thank Flag Link Tue Oct 7, 2014
Agent, hands down, agent all the way...I am a little biased, just fyi.
0 votes Thank Flag Link Wed Apr 9, 2014
I lost my potential home because a realtor was involved in the transaction. Realtors are NOT held liable! There is a clause in their papers that they, their "affiliates,... successors anyone involved in the transaction such as the realtor themselves, agency will be held harmless of any and all wrong doing".

THANK YOU FOR THAT. That clause caused me to lose my home, $20k of my parents money, and $40k of my life-earned cash. It was my attempt to be completely debt free and own my own home.

I WILL ONLY USE HOUSEPAD, a good closing LAWYER that I pay for to represent me, at a title company that I have researched! I suggest all homeowners and prosepective buyers do the same!

who finds the home? YOU
who sticks their hand in the pot as it slides across the table? the realtor!

oh, and if it comes to selling, [housepads part primarily] do the same thing in reverse! ...attorney at tile co,

Lets get the word out!
0 votes Thank Flag Link Wed Apr 9, 2014
oh, and YOU negotiate YOUR price. You should not own something that you don't know the value of. A realtor is a roadblock, a regulator, and when something is regulated, you get LESS of it.
Flag Wed Apr 9, 2014
housepad is absolutely worth it. I saved 12K by using them. All due respect to you agents out there, your buyers buy, not you
0 votes Thank Flag Link Fri Aug 17, 2012
probably because a name is unique -just like everybody else. I applaud the flat fee guy, even if he is a realtor! Flat fee catches my attention more than 'morphip snuffinbabble' of east-west realty, of supercity, GA.
Flag Wed Apr 9, 2014
Interesting.....person Is a home buyer and saved 12K using them. How does that work?? Maybe the Flat Fee MLS from Broker, Womelsdorf, PA can answer that question. I have one as well.....why do you hide behind the title of Flat Fee MLS from Broker, Womelsdorf, PA ? Why don't you proudly display your name as the other agents have done? Unless...............
Flag Tue Jun 11, 2013
Housepad, Wolmesdorf PA
What a horrible experience from beginning to end.. They are so misleading and ypu cannot contact anyone to complain to after your money ispaid to them. I talked to an ingnoramous called Bob who was so unprofessional, I'm sure he had to be temp. help. My story is too long and not worth repeating save it be to protect any or all who may stumble onto this phony web site with a lot of promises and no follow-up! Please rethink outside the box before subjecting yourself to paying for their service , because what you get in return is pure frustration.Try Zillow instead. It is free and quite effective. I had 5 or 6 hits from Housepad and 1100 hits from Zillow. This is my goal , to warn all to stay clear of any transaction with this company. Let the buyer beware!!!
Dan
0 votes Thank Flag Link Sat May 19, 2012
I agree that housepad customer service can be improved. That would also make the sellers price increase. Low overhead is good. I would like to see it improved though.

Zillow vs housepad? kind of apples to oranges in my opinion because zillow is not a mainstream insertion to the big highway of sales ads.

Zillow can be improved... NEEDS improving. Value estimates there are USELESS. Comps are still the best way to obtain value, and realtors can do. I do this by simply looking at my active competition and pricing accordingly!
Flag Wed Apr 9, 2014
Hi Renee,

We enjoy reading and saving your comments. Please keep em coming!

The REALTORS at our company are Ken and Ryan Gehris. That would make your statement that we are "'non' Realtors" untrue. That being said, state laws prohibit nonlicensed individuals from practicing real estate brokerage, so an individual may be licensed by a state to practice real estate but not be a member of the National Association of REALTORS. NAR also requires that all letters in REALTORS be capitalized, as it is trademarked, though they would probably forgive us for not putting the (R) behind it due to limited formating options here.
http://www.realtor.org/letterlw.nsf/pages/TrademarkLogoMemberName

You write "Realtors (REALTORS) are selling your customers homes." Right, that's the point of listing in the MLS. In the MLS when we mark a listing sold, the MLS collects data as to both who the listing agent and selling agent are. When we list a property, we are the listing agent. The agent who brings the buyer is the selling agent. Both get credit for the sale. MLS 101.

You object to us only allowing sellers to offer a commission in the MLS of 1 - 4%. You are right that it is not regulated or fixed by the state. That is why we also say on the same page "By law commissions are negotiable and are not fixed by any state or federal law." Every broker has the right to decline to sign a listing contract if they feel the commission rate is either too high or too low.

Of your 3% fee, how much of that do you offer to cooperating brokers in the MLS (if any)? Does that also include the "transaction fee" or "broker service fee"? How much are they running these days?
0 votes Thank Flag Link Wed Feb 2, 2011
Housepad Broker, (can't even identify who you actually are)

First of all, my name is spelled Porsia.

Did I hit a nerve?

I am merely answering this question which is titled agent vs. housepad.

Realtors are doing the work because "non" Realtors are not allowed to have any involvement in real estate transactions. You can check with the real estate commission if you would like. If Housepad is listing properties and selling them please let me know. Otherwise, my statement is true that Housepad doesn't do any work, Realtors do.

Housepad is not having the success that you write about. Realtors are selling your customer's homes. Housepad can't take credit for the sale if Housepad didn't sell it. Maybe I should contact the real estate commission here in Pennsylvania to ask that question. I think that telling consumers that Housepad is the one who is selling the homes is misleading. I think this falls under Article 2.

Also, on your site it says "If you want the lowest rate, our Pay-Upfront program is the way to go, and our most popular program. You can pick and choose the options you want from all the available choices. With this option you are free to set the commission rate offered in the MLS anywhere between 1% and 4%." I don't know how you can have that on your site when there is no fixed fee that sellers must pay to Realtors. A seller can offer out whatever they want. If a seller wants to offer out 1% or 85% that is up to them. You can't tell sellers that they must offer out up to 4%. It's not regulated by the State.

You asked me what my fee is. My fee to my clients is 3%. I do not take any money up front. If I sell their home, I get paid. If I don't then I don't get paid. I work for my clients. I fight for my clients and most importantly, I protect my clients. I value what I do because I am an expert in my profession. Charging someone $199 to pass on their information to someone else to put into the MLS seems like a lot of money to me. It's funny because for sale by owners don't want to pay a fee to a Realtor AFTER their home sells because they feel it's too much money and the Realtor does a lot of work however they don't mind paying an upfront fee to someone who isn't really doing anything for them..

Getting defensive just because someone challenges your model doesn't make you look so good. If your service is so valuable, why not show us instead of threatening people?

Renee Porsia
Associate Broker
RE/MAX ACTION
(215) 669-0589 Direct
(215) 358-1100 Office
http://www.reneeporsia.com
0 votes Thank Flag Link Tue Feb 1, 2011
I don't like when realtors just SIT and wait for their property to sell thinking its time leverage or something.

What about that form a realtor once tried to get me to sign, that they receive commission no matter what realtors buy and sell it?

Housepad service is good, and I'm a customer from over a year ago. I know, some realtors give all realtors a bad name if they just sit and wait for it to sell. I know there are a few good ones out there. It has been my experience to list the home myself is simply better.
Flag Wed Apr 9, 2014
I came across this post and just wanted to bring attention to it again because I think more than ever, consumers need to know that companies such as Housepad are deceiving. What Housepad neglects to tell it's customers is that they actually do no work and that Realtors are the ones who are in fact doing all of the work. Housepad needs to put the home owner's listing in the MLS which is a service for Realtors. If the home owner does not sell the home specifically on their own which means without any Realtor involved but more times than not, it is a buyer agent who brings the buyer to the home owner because they saw the listing on the MLS (which is a Realtor's database). Here are just a few things that home owners need to know.

Housepad charges an up front fee. Realtors do not.
Housepad charges for for sale signs. Realtors do not.
Housepad DOES NOT represent (or protect) the home owner. Realtors do.
Housepad charges for lockboxes. Realtors do not.
Housepad could care less if the home owner sells their home or not because they get paid up front. Realtors do care if the home sells because the Realtor does not get paid unless the home sells. Realtors do not charge up front fees.

I figured this would get the ball rolling.

Renee Porsia
Associate Broker
RE/MAX Action
(215) 669-0589 Direct
(215) 358-1100 Office ask for Renee
http://www.reneeporsia.com
0 votes Thank Flag Link Tue Feb 1, 2011
I'll pay $100 in signs, and directional signs.
I'll pay $11 for the lockbox.
I'll pay pay the up front fee of $400 AND BUYER REALTOR COMMISSION.
I'll negotiate my bank account because I built, earned it, and know its value.

or I can pay a realtor 6% or $6000 with a hold-harmless clause that they are indemnified from mistakes and I'll end up holding the bag anyway?

Thank you HOUSEPAD for the alternative.
Thank you for protection title company and local attorney.
Flag Wed Apr 9, 2014
I don't see a conflict of interest Mr. McCoy: there is healthy capitalistic competition between all real estate companies. Housepad offers a potential solution for some or they wouldn’t be in business.

If it was a magnificent, all inclusive fabulous solution, we'd all be working at Housepad-ish companies. However major franchises own Long Island at this moment in time and Housepad is a grain of sand on Realty Beach.

Americans have a strong, frugal “I can do it” attitude – great when it comes to figuring out how to fix a leak under the sink, grieving your taxes or changing the oil in your car. In this economy we need to draw from our Depression Era roots and make do or do without. However, an average property in this area sells for close to Half A Million Dollars or more. I can’t CONCEIVE of risking that asset on a Craigslist level transaction.

If you price your house really low – which is a quick way to get rid of any house – and you know absolutely everything about New York State Law – like you’re a lawyer and mortgage broker rolled into one – you have lots of real estate agent friends – and lots of time to market and show your house and negotiate as well as getting ready to move out – then something like Housepad’s for you.

When it comes to professional tasks - like managing my stock portfolio, or getting a heart transplant, or selling off my Number One Asset - I'm going to hire an experienced professional.

I think there’s a misconception about real estate agents we’re partially responsible for – we don’t communicate the number of hours of ongoing education many of us earn – we don’t break down our investments in marketing, research, and administration to the public. The part-time, uneducated, lackadaisical agent is a relic.

Meredith C. Kurz LSA CBR CHMS EPRO
REMAX Signature Real Estate
0 votes Thank Flag Link Mon Feb 1, 2010
Just because there's a conflict of interest, Meredith, doesn't mean that we're not correct!

Actually, housepad, I have found that putting deals together with unrepresented sellers is, in fact, more work than if they had their own agent that I could work through.

I've said it before: life is short, and if people want to play real estate agent, well, it won't stop the world from spinning 'round. But they're not professionals, they often do not behave in even a semi-professional manner, and the burden of keeping the transaction together is not shared by the listing broker.
0 votes Thank Flag Link Sun Jan 31, 2010
JP, First of all, good luck with the sale of your home. The simple answer to your question is: a good, hard-working, effective realtor will probably get you the most money for house in the quickest possible time. Full-service realtors don't get paid unless and until they sell your home. You pay Housepad an up-front fee. Where's their incentive to make sure your home gets sold - they already got paid - have a nice day! I'm sure the broker from Housepad will correct me but as I understand it, sellers listed with Housepad do not pay any commission if they sell their house without a realtor. This feature tends to deter many agents from showing the house. You may still get some viewings by agents but don't you want the most exposure for your house? Isn't that why you're posting it on MLS to begin with? Hiring an attorney to negotiate the deal? Well, on many occasions, when the attorneys can't work out a deal, they call us to do the negotiating to resolve problems. If you haven't hired a realtor yet, I would welcome an opportunity to meet with you. Whichever path you choose, good luck.

Ralph Windschuh
Century 21 Princeton Properties
631-467-0009
0 votes Thank Flag Link Sun Jan 31, 2010
realtors do make a fee at the sellers offering, and subject to negotiation of course. I have put 4% as a buyer referral fee when I list on housepad. that way, the incentive is there. if I put a $10 lockbox on my home, there is no reason that a buyer and their agent can't walk in an view when I'm not there.
Flag Wed Apr 9, 2014
The short answer is: the odds are against you actually selling a house through Housepad and the money in
your pocket probably will be less than if you listed with a full time agent from a recognized firm.

I've attached a list of all the properties that Housepad listed for the whole year - with full addresses.
1. Out of 53 properties FIFTEEN homeowners broke off with Housepad prior to end of contract. They are STILL OBLIGATED to pay Housepad - typically Housepad demands a one year listing. This means if you hate them because they've done nothing for the first three months - you can do what's called a withdrawal/release, but you're still obligated to pay them should you sell your home for the entire length of the original contract.
2. 12 properties sold in one year for the ENTIRE SUFFOLK COUNTY - one of them is in your zipcode - that's one entire year - one house - lousy, lousy stats there. Companies like RE/MAX have sold literally thousands within the same time period.
3. 6 of the properties NEVER SOLD under Housepad - that's over 10% - so now you have 38% failure rate - impressive
4. Houses that did sell sold for less than the average percentage across Suffolk - and they were on the market for a longer period of time.

You have a ONE IN THREE CHANCE of selling our home with Housepad - and if you do sell,m it will take you longer and you'll get less money in your pocket.

You may not choose me as your agent, or REMAX as your company but in a declining market you need a larger, recognized firm because
a) they have more agents motivated to to see and sell your property,
b) their hours of operation are typically 7 days a week 9 hours a day - they have the staff to handle calls, coordinate showings, advertise more on the internet at multiple sites - and handle any legal issues that can and do arise.

The very best of luck to you!
0 votes Thank Flag Link Wed Dec 30, 2009
Only you can answer that question, as you will be responseable for the results.
0 votes Thank Flag Link Wed Dec 30, 2009
Stand by - I'll be sending you out an earful for that one - backed up by stats of course!
0 votes Thank Flag Link Wed Dec 30, 2009
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