BrokerageIndustry News

Real estate customers for life

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

An upstart company aims to lock in real estate agents' and brokers' customers with long-term contracts for future home sales and purchases. PreList America, which opened for business less than a year ago, allows agents to enter into legally binding contracts with homeowners for future business. Under this system, homeowners agree to a 20-year contract with a real estate agent for the sale of their existing home and purchase of a new home, in exchange for a discounted commission on both transactions. Agents who participate in this program, who are called "realty advisors," agree to reduce their commission on the sale of a contracted client's home by 20 percent and to give 20 percent off of the buyer-agency fee to clients who purchase a new home. Additionally, PreList America receives 9 percent of the participating agent's sale commission and 9 percent of the agent's purchase commission. For its share of commission, PreList America communicates with agents' clients through ...