Feb 20, 2008 4:06 pm US/Eastern
New Service Offers Advice To Homeowners
Part 4 Of A Five-Part Series On The Real Estate Crisis In Massachusetts
BOSTON (WBZ) ―
When you want advice about your most valuable asset, where do you turn?
"I started to talking to friends and family," said homeowner John Woods.
But John and Susan wanted expert information on whether to add a second floor to their Southborough home. They turned to a new company called OptHome.
"OptHome is a resource for homewoners," said OptHome's founder Rob Harrington. "That helps them with the whole experience of owning their house"
Here's how it works. Once you register with OptHome (and that's free) you will be assigned a real estate agent to serve as your consultant.
It's like a coach or personal trainer for your home.
"Within a week he got back to us with the things we needed to think about," said John. "Will your downstairs support it... Will your septic be able to handle it... How will it look in the neighborhood?"
And there's an added bonus. Just for signing up, homeowners automatically get an Opt reward cash or gift card ranging from $100 to $1,000.
"We got money just before Christmas which is always nice," said John.
Harrington says the goal is form a bond now that will pay off for the company later on. "If the agent builds up a good rapport with that home owner, they know that they're probably going to be the listing agent when they sell some day."
Those agents do not work for OptHome. "We make money from the listing agent who shares a portion of their commission with us," explains Harrington.
That portion is 25 percent.
And the editor of Realty Times says that could hurt the seller in the end.
"If they're paying OptHome for the lead and the consumer asks for a discount on the commission, they will almost always have to say no," said Blanche Evans.
In the Woods' case, their OptHome agent showed them extra costs they had not anticipated and pointed out their older son would be off to college soon.
They opted not to expand. "We decided to spend money making it nice down here rather than spending up there plus we like to go to Disneyland," said Susan.
OptHome says 80 percent of it's customers who do sell use their assigned agent, but you are not obligated to do so.
Home Buyer's Toolkit, MA Assoc. of Realtors Home Seller's Toolkit, MA Assoc. of Realtors Preparing Your Home For Sale, MA Assoc. of Realtors Traditional Mortgages, Understanding Your Options Specialty Mortgages, Risks and RewardsIs there something more you would like us to know about this story? Do you have a news tip to share with WBZ?
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