Q 1: What is the purpose of HomeCommission.com site?
HomeCommission.com is uniquely designed to serve both home sellers and buyers
who want to save sales commission cost and yet utilize the services of
professional real estate agents.
Q 2: What are different types of auctions I can create on HomeCommission.com?
There are two type of auctions users can create:
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Listing Commission Auction
Listing Commission auction created by sellers invites real estate agents to bid
the lowest listing commission on the sale of their home.
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Cash Back Auction Cash Back auction
created by buyers invites real estate agents to bid the maximum cash back on
the commission from the sales transaction of their new home.
Q 3: How does HomeCommission.com benefit real estate agents ?
HomeCommission.com greatly benefits realtors.
Realtors find their new clients at the comfort of their home or office. Contact
information of the qualified buyers or sellers is revealed to the winning
bidders. By offering best services on lowest possible commissions, realtors can
establish good rating on HomeCommission.com leading to more future clients!
Q 4: How does the bidding process work?
For more information on the bidding process, click on 'How it works' link on
the left navigation bar on home page.
Q 5: I do not want to reveal my personl information, what can I do?
Your phone number and address information is strictly confidential. We only
reveal this information to the auction winner, so he/she can establish the
contact, and provide you the professional services.
Q 6: Does a HomeCommission auction establish a binding contract between
Seller/Buyer and the winning Realtor?
No. For contract to be binding it must be documented and signed by both parties
after the mutual agreement is reached. HomeCommission.com is just a venue and
not an intermediary. Our site acts as the venue to connect those with business
opportunity with those seeking business opportunities. We are not involved in
the actual transaction. See details in user agreement.
Q 7: Do I need a credit card at any stage of the Auction?
No, entire system is totally free for realtors, sellers and buyers.
Q8. Is giving Cash Back legal?. It shall be the responsibility
of the Realtor to ensure that giving cash back (in the form of cash,
check, rebate or closing cost credit) at time of settlement does not
violate his/her local real estate laws and his/her agency agreement with
his/her broker. HomeCommission is just a venue to connect the Realtors to the
Sellers and Buyer and do not participate in any legally binding contracts
between the parties. HomeCommission auction does not establish a legally
binding contract between the Realtors/Brokers and the Seller/Buyers.
Q9. What is Cash Back? Cash Back does not necessarily mean the
money that has to be given by the realtor in the form of Cash to the Buyer.
Cash back is commonly and legally given as credit to the Buyer to help out on
the closing costs at settlement. It shall be the responsibility of the Realtor
to ensure that giving cash back (in the form of cash, check, closing cost
credit etc) does not violate his/her local real estate laws or her agency
agreement with his/her broker prior to bidding on an auction.
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