Start-Up Lowers the Cost of Full-Service Real Estate
SEATTLE - September 8, 2008: findwell, Seattle’s newest full-service real estate brokerage, launched several new services today designed to fill the gap left by discount and online brokers. findwell saves home buyers and sellers thousands of dollars on each transaction, yet provides them with the full-service approach that they are accustomed to from traditional agents.
Using findwell to buy a home, consumers receive a rebate of ½ of the buyer’s agent commission that they can use towards closing costs or other expenses. Sellers are also able to save with listing office commissions that are ½ the typical commissions being charged today. “In today’s challenging real estate market, these huge savings can make a big difference in our customers’ ability to buy or sell a home. Our average customer is able to save $7500 on each transaction,” said Kevin Lisota, findwell President and co-founder.
findwell’s low fees are a reflection of the changes that the Internet has brought to the real estate industry, similar to the changes that previously happened in the investment and travel industries. findwell saves customers money by paying agents a salary - not a sales commission - and by avoiding high franchise fees. “We have done the math on how much time and effort it takes to buy or sell a home and are able to offer full service at half of what other real estate agents charge,” said Lisota.
Unlike other discount or online real estate brokers, findwell provides the same level of service that is customary with traditional real estate agents. “While we love the innovation that discounters like Redfin have brought to the real estate market, our customers have told us that they want to work face-to-face with an agent, and they are uncomfortable buying or selling a home that their agent has never seen. We fill the gap left by companies like Redfin,” said Lisota.
Initial reaction to findwell has been positive with over $6.6 million in closed sales in the first quarter of operations, saving consumers more than $99,000 through rebates and reduced commissions.
In addition to half-price commissions, findwell is offering “Open House Anytime” - a free, no-obligation service that gets potential home buyers into any house at any time. To use this service, customers can hop a ride in the “findwell MINI” - a festive green MINI Cooper marked with the findwell logo and quipping the phrase “Full Service. Mini Commissions.”
Sellers receive a free home pricing analysis from a findwell agent after an in-person visit. Sellers also receive comprehensive online and in-person marketing services – including professional photography, listings in all major search websites, staging advice, and weekly status reports.
Those with specific real estate questions can stop by the findwell office on the first Wednesday of every month, where findwell hosts “Ask the Agent” events with free pizza. Explains Lisota, “In a world where information is easily gathered online, there is still a need for in-person customer service at reasonable prices. Our goal is to provide both.”
