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:
- 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.
- 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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