Industry News

Mortgage company launches for-sale-by-partnership program

Home sellers can list properties for sale in local MLS for free

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A mortgage company in Houston offers free brokerage assistance to home sellers in exchange for access to potential buyers. Paragon Residential has participated in about a dozen real estate transactions under this new program, called For Sale By Partnership, said Brett A. Cenkus, founder, chairman and president at Paragon, and the company plans to formally launch the program in January at a new Web site: The program is an example of a business model that blurs the line between mortgage companies and real estate brokerage companies. While some mortgage companies offer real estate brokerage services to help drum up new mortgage business, some real estate brokerages similarly work to drive business to mortgage partners or subsidiaries. Cenkus formerly served as chief operating officer at Urban Realtors, a full-service residential real estate company based in Houston. A Web site description states that home sellers who sign up for the program will receive 50 prope...