HungryAgents.com, a Web site that allows real estate agents to bid for sellers’ business by lowering their commission rates, has expanded its services to target home buyers.

“Prices of existing homes have fallen for the first time in 11 years and the backlog of available homes for sale is at its highest since 1999. No arguments anymore — it’s a buyer’s market,” according to a company announcement this week.

HungryAgents.com now allows buyers to input their preferences for the location, price range and length of time that they desire to purchase a home. Based on that information, real estate agents who seek to work with those buyers can bid on how much of their commission they are willing to rebate to the prospective buyer.

The rebate “is a great incentive, especially for first-time buyers who could use the money for closing costs, or perhaps new furniture,” according to the company announcement.

Since its launch, more than $2 billion worth of property was registered through the HungryAgents.com site and the site has matched “thousands of sellers” with agents, the company reported.

Some other sites, too, allow agents to slim down their commission in an effort to win over real estate consumers. RealtyBaron.com, for example, allows agents to bid for the lowest commission rate on a listing after reviewing property information submitted by sellers, and ListLow.com is a referral service that offers consumers commission savings for working with agents in its network.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Real estate news and analysis that gives you the inside track. Subscribe to Inman Select for 50% off.SUBSCRIBE NOW×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription