SAN FRANCISCO–A new online listing tool that cuts the costs of real estate commissions for home sellers has launched in the Chicagoland area. ListMeFree.com enables home sellers to log onto the Internet, create a profile of their property that’s for sale and e-mail it directly to ListMeFree sales agents.
Home sellers also complete home disclosures online when creating their property profile. Sales agents then review the home listing and upload it to the Multiple Listing Service of Illinois so it will attract agents with buyers in that market. MLSNI currently has about 40,000 members in 7,000 offices throughout Northern Illinois.
The site has gained popularity among home sellers and especially, for-sale-by-owners, according to company spokesman Alan Krygowski, who spoke today during a press conference at Inman News’ Real Estate Connect 2004. The service is free for home sellers.
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Home sellers who use the free service must agree to compensate a buyer’s agent for bringing an acceptable offer for the property. The service enables home sellers to skip the listing agent commission they’d have to pay if they used a traditional real estate service.
Sellers set their own showing appointments and negotiate the sell side of the transaction themselves.
ListMeFree also enables sellers to sell without using a buyer’s agent, cutting the agent commission altogether. The company also offers traditional real estate services on a “fee-for-service” basis.
Krygowski said the company recently launched a regional radio ad campaign to attract consumers. The company has gained attention from realty agents in the region as well. He said many agents are calling to sign up for referral business.
The company lists about 50 houses for sale each month, Krygowski said.