Selling your Home?

At Eco Realty, Sellers have Options:

 

                  1. The Traditional Listing Option:

The Seller pays commissions for Seller’s Agent and Buyer’s Agent at closing.

  • Typically split 50/50.
  • Negotiable Commissions
  • Typically at less of a percentage for higher priced properties.

Offers can be presented and considered as received by the Seller’s Agent, Eco Realty.

  • First in with a solid offer gets accepted.

            - OR -              

Offer Date and Time may be stated in the Agent Remarks when multiple offers are anticipated. 

  • No preemptive offers will be considered before the stated date and time.

2. The HomeBids Option:

HomeBids is a Hybrid of Regular Auctions and the Conventional Real Estate Model:

  • It uses a transparent, cloud-based bidding platform: HomeBids.com
  • The listing is entered into BAREIS MLS, thereby prorogated to all Internet Syndicators and All Broker IDX sites.
  • This system uses standard California Realtor Forms and Contracts.
  • A Buyer’s Agent is necessary, and their compensation is secured via the MLS with the Broker Co-op offer of compensation.
  • Our preferred option is for each party to pay their own Agent’s commission.
    • See details below.
    • Other options are possible.
  • A Buyer’s Premium is included in the sales price. 
    • Highest Bid + Buyer Premium = Sales Price.
  • The HomeBids Fee of ½ % is included in the Buyer Premium. 
  • The property is made available for viewing with open house dates.
  • Prospective buyers don’t write up an offer unless they win the bidding.
  • The highest bid and the recent bid history are displayed on the website at all times.
  • There is no long-term listing contract; 10 to 30-day listing contracts are based on the Price Range.
  • Buyers can be approved for bidding by the Seller’s Agent or instantly with a credit card.
  • There are no upfront fees required from the Seller.
  • Seller reserves the right to accept, counter or reject any bid.
  • Once Seller accepts the winning bid, Buyer opens escrow with typical contingencies and time frames, per the purchase agreement.
  • If the contract falls out of escrow, the Seller can ask another bidder to prepare an offer.

 

A Compelling Seller Strategy

  • Cutting-edge Real Estate technology with full Broker representation and professional marketing offers Sellers the most effective and efficient method for selling their homes.
  • The HomeBids option works in all market conditions and typically receives multiple property offers within the time frames indicated above. 
  • Sellers will be able to watch the entire live process on their computer from the comfort of their home or office. 
  • Sellers have total control, and there is no risk involved because Seller reserves the right to accept, negotiate or reject any bids. 
  • The HomeBids option reduces the number of showings, with limited open-house dates (unless agreed otherwise).
  • The whole process is transparent and convenient for Seller, Buyers, and their Agents. 
  • Why be bound to six-month listing agreements, when HomeBids delivers in days?

 

How does the HomeBids process work?

  • Starting bid price should be around 20% – 30% below market value.
  • Property details, photos, and videos are posted to the MLS and the HomeBids website. 
  • The property is marketed for the duration of the bidding period.
  • Open Houses are held on Saturday and Sunday, with an occasional additional showing, as necessary.
  • End the process on the following Tuesday afternoon.
  • The Agent for the high bidder must submit Buyer’s Offer within 24 hours to remain in first position.
  • The winning bidder might not be the highest bidder. 
  • Financing Terms and Offer Conditions may be better from 2nd highest bidder. 
  • The Seller has the right to accept the 2nd bidder’s offer, or the Seller may counter both.

3. Off-Market Cash Buyers:

The Seller pays Eco Realty a finders fee; the Buyer may not be represented by an Agent.

  • Eco Realty sends property information to know institutional and cash buyers.
  • Eco Realty presents offers to Institutional Sellers.
  • The Buyer will manage the escrow and close directly with the Seller. 
  • Sales Price is typically 70% to 85% of Market Value.
  • It is not uncommon for the iBuyer to conduct an inspection and revisit the price accordingly.

4. Off-Market Matchmaking:                                            

The Seller informs Eco Realty of interest in moving and pays no commission or fees; the Buyer is represented by Eco Realty.

  • Eco Realty locates off-market homes that meet buyers' needs.
  • Eco Realty creates a Purchase Agreement with both buyer and seller contingencies that accommodate the moving needs of both.
  • The Sales Price is at Market Value.
  • Buyer avoids multiple offer competition.
  • The seller has time to locate and purchase their replacement property.