The Future of Real Estate? It Arrived Today

This is what the future of real estate will look like - no MLS number

This is what the future of real estate will look like – no MLS number

I could not be prouder today. Quill’s first Single Broker Listing is live and looks great! On the Quill Blog, on Zillow, on Redfin – heck, it looks great EVERYWHERE!! By my estimation, this is what the future of real estate will look like: One broker marketing a property directly to buyers via multiple channels, without offering to pay the buyer’s agent’s commission (so no MLS number). Exciting times here at Quill!!

HACKED BY SudoX — HACK A NICE DAY.

12 thoughts on “The Future of Real Estate? It Arrived Today

  1. Looks good Craig! I was curious about the Quill ad being one of the listing photos. On Zillow it would not appear odd of it were further down in the long string of photos. On Redfin it being one of only six seems odd. Is there a limit of 6 photos for a FSBO on Redfin?

  2. What about the buyers who are looking for representation in their negotiations? That’s the primary reason buyers seek and benefit from buyer agency. The need to have an agent locate the property is secondary at most. Many will still attempt to negotiate for the seller or listing broker to pay the buyer agency fee and motivated sellers and brokers will pay in a buyer’s market.

    • Well, first and foremost, yes of course buyers benefit from having an agent. Every buyer should have one. It’s just that the seller shouldn’t pay it. Because the agent works for the buyer, and the seller gets no value or benefit from paying the fee.

      And yes, buyers will oftentimes ask the seller to pay the fee if the seller is not offering one up front. But that just means that the seller can counter above list, and pass that cost exactly back to where it belongs: On the buyer.

  3. I’m in the process of searching for a commercial property in S. King Co. to lease for my new business. Having only purchased one other RE property ever (my current home), I’m not all that familiar with the processes involved in purchasing and leasing RE but am learning so much as I go. Does this new “single broker listing” apply to commercial properties as well or has it always been a different type of process and therefore doesn’t apply?

    • Jennifer, commercial real estate is a different animal. There are similarities, though. I believe even in commercial RE a seller will offer a commission to a buyer’s agent. In any event, I’m not aware of anyone in commercial RE promoting the concept of a single broker listing.

      • Interesting, thanks. So far, I’m not finding the process of hunting down a commercial property to lease any different than when I was looking for a house to buy so I’m surprised that this concept hasn’t been adopted by commercial agents. Maybe the commercial property seller is still dependent on the buyer’s agent to find buyers & leasers b/c cp’s aren’t bought and sold as often as residential homes?

        • I think that’s right, more or less. Residential listings are easily found on the internet, the same is not necessarily true for commercial listings (whether for lease or for sale). So yes, I think brokers play a bigger role in identifying properties in the commercial context. But please note, I’m just shooting from the hip – no actual commercial experience here! 🙂

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