Technology

New platform connects homebuyers with fee-for-service agents

Solo rebates the commission paid to buyer's agents at closing

A new online platform lets homebuyers pay only for the services they need by connecting them with partner agents who offer a menu of services on an a la carte basis.

Solo encourages homebuyers to find homes they might be interested in buying online. They then pay as they go for whatever services they might want, such as showing and pricing homes, answering questions, writing a contract, negotiating an offer, or attending a closing.

At closing, Solo rebates the full commission paid to buyer’s agents.

The only required step is that a licensed agent prepares a written sale contract on the buyer’s terms that’s submitted to the listing agent. The fee for this service is $100.

Partner agents set their own prices and work in a “no brokerage relationship” capacity. Solo handles all payments and charges agents a 10 percent processing fee on their work. Solo pays its partner agents’ brokerages on a monthly basis, and brokerages then pay the agents based on their split.

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Email Paul Hagey.