AgentBrokerage

SoloPro says it ‘blows up’ real estate agent commissions

SoloPro has supplemented its la carte service offerings with package deals, released brassy TV commercial
  • Agents can join SoloPro for the opportunity to provide individual services at fixed rates or a bundle of services for a flat fee that's much less than a typical commission
  • The startup has spent more than $100,000 on a commercial that illustrated its desire to 'blow up' real estate commissions.
  • SoloPro's new service packages allow buyers and sellers to delay payment until just before closing, potentially strengthening the platform's appeal to consumers.

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In a nod to the traditional real estate service model, SoloPro, a startup that connects homebuyers and sellers with third-party real estate agents that perform one-off services for flat fees, has now begun bundling some of those services into package deals that consumers don't have to pay for until just before a transaction closes. The offers are set at rock-bottom prices designed to "blow up" agent commissions. The Durham, North Carolina-based startup has also switched from letting agents advertise their own prices for one-off services like showings and home valuations to referring out those services to agents at fixed rates, marking an attempt to pin values on the various tasks that agents perform and speed up the time it takes for consumers to get what they want. Facilitated 100-plus fee-for-service exchanges The startup -- which has secured $1.6 million in funding and an undisclosed strategic investment from the venture arm of home improvement chain Lowe...