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Homesville Offers Local Home Sellers Reprieve in Tight Market; Real Estate Agency Develops Innovative Model for Home Sales.
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PR Newswire
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October 16, 2003
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Copyright informationCOPYRIGHT 2003 PR Newswire Association, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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AUSTIN, Texas, Oct. 16 /PRNewswire/ -- Hoping to offset prevailing home sales trends, local entrepreneur Paul Reddam recently launched Homesville, a full-service real estate firm that differs from its competitors by charging sellers a fixed, one-time fee, rather than the usual three percent seller's commission.
"After ten years of selling homes in Austin, I basically came clean and admitted that I was being overpaid," confessed Reddam. In a conventional transaction, a realtor would usually earn a percentage-based commission tied to the price of the home being sold. Reddam disagrees with this method. "Real estate agents should be paid for the work they do, not the price ...
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