For the 1.1 million people who try to 'sell by owner', we provide incredible exposure to millions of buyers via the MLS. For the over 400,000 sellers who pay a fee to be MLS-listed, we now offer it for free. Why would anyone ever 'sell by owner' again, when they can 'sell by Iggy'?
CHICAGO (PRWEB) March 23, 2007
First to Offer Free MLS Listings on Nationwide Scale
Iggys House is launching the first free MLS listing service today in 20 states representing 65% of the U.S. existing home market. Within the next few months, it will roll out this service to a total of 37 states, representing 84% of this market, before going national by the end of the year.
"This will send shock waves through the industry," said Joseph J. Fox, CEO of Iggys House, Inc. "There is a lot of money at stake - about $65 billion annually in real estate commissions. This new model will have an immediate impact on the status quo."
The MLS is the most important channel sellers can use to attract potential buyers. More than 70% of all homes are sold through the MLS. MLS listings also cause homes to appear on leading real estate websites like Realtor.com. Iggys House provides sellers with access to both marketing channels for free.
"Our service is totally free, and there is absolutely no catch," Fox added. "This is the real McCoy."
Immediate Impact on Consumers
"People wonder why the Internet has not had a greater financial impact on the real estate industry," Fox said. "The reason is that the underlying model is rigged to benefit agents. The primary function of most real estate web sites in existence today is to drive consumers towards those agents. No other website empowers consumers more than Iggys House."
"By breaking open the MLS we are providing over $500 million worth of services for free to millions of home buyers each year," said Fox. "For the 1.1 million people who try to 'sell by owner', we provide incredible exposure to millions of buyers via the MLS. For the over 400,000 sellers who pay a fee to be MLS-listed, we now offer it for free. Why would anyone ever 'sell by owner' again, when they can 'sell by Iggy'?"
Ultimate Real Estate Portal
Iggys House also offers a free website for every home seller in the United States. Sellers can use this website to post incredibly rich content about their home, including unlimited photos and videos.
"All sellers can benefit from our website, which provides a powerful new marketing tool," Fox added. Sellers can create a free website for their home, even if they do not list on the MLS through Iggys House, or are listed with another real estate firm.
"What separates IggysHouse.com from thousands of other real estate websites is that our customer's content will be exposed to millions of people searching all over the web," said Fox. "Our platform attracts buyers from every website that displays our MLS listings, including from the number one real estate site on the web: Realtor.com."
New Business Model
"By giving sellers free MLS listings, we have the opportunity to introduce them to BuySide Realty - a service that pays them thousands of dollars when they are ready to buy," said Fox.
Iggys House accelerates the industry transformation it began a year ago with the launch of BuySide Realty. In April 2006, BuySide first started providing self-directed homebuyers 75% of the commission it receives as the buyer's agent. Now the largest Online Buyer's Agent, BuySide has paid buyers an average rebate of more than $11,000 each.
"Most home sellers are also home buyers. And the self-directed sellers who recognize the value of using Iggys House are exactly the sort of buyers who would use BuySide Realty," concluded Fox.
Over 1.5 Million Potential Customers
According to figures from the National Association of Realtors, Iggys House estimates the size of its initial user base to be at least 1.5 million people.
In 2006, 6.48 million homes were sold in the U.S.(a) Of these:
Flexibility to Hire Another Agent
Home sellers have total flexibility to try http://www.IggysHouse.com as long as they would like, with no fee or obligation. Users have the option of hiring another agent at any time. Iggys House will even offer local agent referrals for customers who would like to find a traditional agent in their neighborhood.
Starting immediately, home sellers in 20 states can list their homes on the MLS and place them on Realtor.com through Iggys House. These initial states, which collectively cover 65% of all existing homes in the U.S., include:
Within the next several months, IggysHouse.com will add free MLS listings and Realtor.com placement for 17 additional states, including:
These 37 states cover approximately 84% of the U.S. existing home market. By the end of 2007, Iggys House plans to provide free MLS listings in all 50 states.
Benefits for Real Estate Agents
Listing agents are invited to post as much content as they wish about their own listings, in order to maximize the exposure of their own customers' homes. Additionally, traditional agents may sign up for the Iggys House agent-referral program, in which Iggys House will match sellers who decide they need the services of a traditional agent with a participating agent in their area.
About Iggys House, Inc.
Iggys House, Inc. is the parent company of IggysHouse.com, Inc., Iggys House Realty, Inc., and BuySide Realty, Inc.
IggysHouse.com is the leading online destination for self-directed home sellers and agents across the country, offering a rich, dynamic platform for unlimited content, photos and videos. In 20 states, Iggys House Realty, Inc. also provides free access to the MLS and Realtor.com, the top two channels most buyers and buyers' agents use to find homes. For additional information, visit http://www.IggysHouse.com .
BuySide Realty is the country's largest Online Buyer's Agent, a licensed real estate brokerage that represents home buyers. Customers who purchase a home through BuySide Realty receive 75 percent of BuySide's commission. Buyers have received an average rebate of over $11,000. In addition, BuySide's licensed, non-commissioned agents assist customers from offer to closing. BuySide Realty is currently available to home buyers throughout all of California, Florida, Illinois, Georgia and Virginia with plans to operate in 90 percent of the United States. For more information, visit http://www.BuySideRealty.com or call 1-877-4-BUYSIDE.
(a) According to data from the National Association of Realtors(R). Realtor(R) and Realtor.com(R) are registered trademarks of the National Association of Realtors (R).