Last week, FutureNet Realty Technologies announced the first phase in its quest to "fix" the real estate industry with the launch of MyFutureNet.com, where consumers can access home resources and apply for a true no mortgage fee, no cost home loan. Soon, MyFutureNet will roll out the world's first "list-to-close" technology-enabled real estate process, putting consumers in control of home buying and selling decisions, keeping more money in their pockets and eliminating the real estate agent middlemen.
The patent-pending "list-to-close" online platform is currently undergoing internal testing and is scheduled for live tests beginning in early 2006. Its Six Easy Steps™ integrates home valuations, listings, secure messaging, offer/counter-offer negotiations, online document storage, and title and settlement closing processes, all online and free for use by buyers and sellers.
No real estate agents will be involved in the process, and no fees or commissions will be charged, saving consumers thousands of dollars.
The system also includes a mortgage finder, allowing buyers to search for loans at the lowest costs and lowest rates.
3 comments:
I cannot say I like the idea of this??
I think one thing this technology does not address is security?
Letting anyone into your home because they saw an ad on the internet?
This is just another for sale by owner site.
Anyone buying or selling real estate with out an advocate (Realtor) protecting their interests both financial and on the liability side is making a huge mistake imo. You could save a few thousand dollars (if you’re lucky) and find yourself in court defending against what could have been latent issues your buyers found in the home.
Buyers are going to pay the appraised value regardless in most cases so why shouldn’t they have a Realtor to do the work and protect their interests?
It doesn’t cost the buyers anything to be represented by realtors like myself and in fact I save them money, and saved some from making horrible mistakes that could have led them to financial ruin and put their families in danger.
Most buyers will have a realtor and what this site is doing is asking the buyer's advocate to do twice the work for half the pay. If there is any comparable competition on the mls for any listing on this new site the buyers agent is going to show the mls listing with two agents working the deal offering a full commission first, and that is indeed in the buyer's best interests. The buyer’s agent should be looking out for the buyer and not having to scramble to pick up the pieces on the listing side. I’ve done that a few times and frankly would like to avoid it if at all possible in the future.
Of course I will be doing what is in the best interests of my clients and I guess sites like these try to capitalize off of that unless they just have no idea how a real estate transaction goes down in any realistic capacity.
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