The changes to how real estate commissions are advertised and sourced as a result of the National Association of Realtors’ proposed settlement has led to the creation of Shay, an application to help homebuyers avoid the traditional sales model.
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The changes to how real estate commissions are advertised and sourced as a result of the National Association of Realtors’ proposed settlement has led to the creation of Shay, “the first self-representation platform for homebuyers,” according to an August 17 press release.
The company said its intent is to allow homebuyers to buy a home without the insight of a traditional agent.
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“Homebuyers finally have greater visibility and control over how much they pay their real estate agent,” says Peter Jeffrey, founder and CEO of Shay. “For the many homebuyers who find the cost of traditional representation too high, Shay guides them through the process of representing themselves. We are excited to support the next generation of homebuyers and save them tens of thousands of dollars.”
The software experience provides detailed guides on the sales process, offering tips and resources on what it takes to find a match, effectively negotiate, find a mortgage and step through escrow. Through task lists, guides, articles and an artificial intelligence solution, “Shay enables homebuyers to complete critical real estate tasks including generating offers, conducting local due diligence, negotiating and reviewing agreements,” the release stated.
Jeffery said paying a fixed percentage when buying a home is a “bad idea.”
“We enable homebuyers to save…