Industry News

Low-commission real estate company expands

Home Discovery now in 12 Florida counties

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A low-commission real estate company based in Tampa, Fla., has expanded its reach into five South Florida counties. Home Discovery Real Estate Services Corp., formerly known as Home Discovere, launched as a mortgage company in 2000, and the real estate brokerage operations launched in 2002. Before the latest expansion, Home Discovery had served seven counties in the Tampa Bay area. The company also changed its logo and rolled out a fleet of blue 2005 Chrysler 300s for its real estate operations, according to an announcement Tuesday. Home Discovery sold more than 1,000 homes in 2004, and the company claims commissions savings of $7 million. The company's business model has not been welcomed with open arms by some traditional real estate brokerages, who claim that Home Discovery is stealing away business and offering a pittance in some cases to traditional agents who work with the company's property listings. Home Discovery's own agents do not receive a commission – they receive ...