Technology

Upstart brokerage outs commission offers — again

  • In 2015, Colorado low-fee brokerage Trelora briefly published the compensation offered to buyer’s agents by listing brokers, and now the brokerage is doing it again.
  • Trelora says it wants to spread awareness that buyer's agents' compensation is negotiable.
  • To comply with MLS rules, Trelora is only making commission data available to consumers who fill out a non-exclusive, non-binding buyer’s agency agreement online.

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Fresh off a funding round, low-fee Colorado brokerage Trelora has started outing commission data -- again. The company is revealing how much compensation listing agents are offering buyer’s agents through the MLS. Registered users can access the data on Trelora’s website. The move is likely to rankle some in the industry, just as a previous attempt to display the data did in 2015. “I'm sure we'll take flak," said CEO Joshua Hunt. "The industry is scared to death of us." Trelora -- which charges all buyers a flat fee of $2,500 to $3,000, depending on service level -- closed more than 700 transactions through the MLS in 2016, up by around 30 percent from the previous year, according to Hunt. He added that the brokerage also did "not a shameful number" of deals off the MLS, but declined to disclose the exact number. "Expose Commissions" module shown on a listing to an unregistered homes.trelora.com user. "Commissions Exposed" module shown to a registere...