Since the buyer's broker gets his or her normal commission, we have not seen any resistance in the market place to our concept
Indianapolis, IN (PRWEB) July 27, 2007
Until recently the Indianapolis real estate business has been able to resist the nation wide trend toward reduced real estate commission rates on residential real estate sales. Now, however, there is a significant and growing discount real estate brokerage business in Indianapolis, dominated after only one year in the market by Mentor Listing Realty (http://www.MentorListing.com).
Indianapolis is the last major market in the U.S. where 7% real estate commissions are still common for residential real estate. Growing pressure from consumers, and also the efforts of the Federal Trade Commission and the Anti-Trust Division of the Justice Department, is starting to break down the barriers to competition.
"The Indianapolis real estate market has been controlled for years by a small number of large brokerages," said Brian Waters, President of Mentor Listing Realty. "These companies have used their dominant market position to stifle competition on commission rates in a number of ways, including through their influence of the print adverting media, and, perhaps most importantly, through their control of the state and local real estate trade organizations."
The growing importance of the internet and the continuing successes of the FTC and the Justice Department have created a new opportunity for alternative business models in real estate. One company taking advantage of these changes is Mentor Listing Realty.
"We are very pleased with how quickly the market in Indianapolis accepted us and embraced our business model," said Mr. Waters. "Our growing market share is the strongest statement possible on how much the public wishes to reduce the inflated costs of selling a home."
"Our service lets property owners list their homes on the REALTOR® owned Multiple Listing Service (MLS) for a single, flat fee of $399," said Mr. Waters. "Traditional brokers charge up to 3½% of the selling price of the home for this service. On a $500,000 home, Mentor Listing Realty can save a homeowner over $15,000 when they sell their home."
With Mentor Listing Realty, the home seller only pays a commission to the broker representing the buyer. "Since the buyer's broker gets his or her normal commission, we have not seen any resistance in the market place to our concept," said Mr. Waters. "The time to sell our listings is virtually identical to the time to sell traditional, full commission, listings."
To receive further information, call Mentor Listing Realty at (866) 269-1006 or visit their web site at Mentor Listing Realty Discount Real Estate Service
Mentor Listing Realty, Inc.
(866) 269-1006, extension 101
Fax: (219) 861-1049
Mentor Listing Realty Discount Real Estate Service