Imagine entering Starbucks, where they tell you to go across the street and use Peet’s Coffee, because they, apparently, pay 25% of sales back to Starbucks . Sounds absurd? Not in real estate. RE/MAX and Redfin have just entered into a colossal market allocation agreement, where consumers looking to use Redfin service will instead be routed to RE/MAX agents in exchange for a cut of the commission.
Real estate brokers must compete with one another, period.
Building an open and affordable homeownership platform requires a disruptive idea, where two or more real estate brokers can never engage each other in any sort of collusion scheme.
At HomeOpenly we aim to bring down this broken process with an Open Marketplace. Price fixing and market allocation agreements simply can’t exist in a high risk aversion process. HomeOpenly is not a real estate broker, it never will be. As a technology company, develop a legal way to advertise and promote competitive rates and tendencies in the real estate industry, this is something no broker collusion scheme can ever accomplish.
#realestate #proptech #startups #savings #trust #privacybydesign #opensystems #openmarketplace #shermanact #ftcact #respa