Iggys House, Inc., parent company of BuySide Realty, today announced the launch of www.IggysHouse.com, a new service that will revolutionize the real estate industry.
CHICAGO (BusinessWire EON) March 22, 2007 -- First to Offer Free MLS Listings on Nationwide Scale
Iggys House is launching the first free MLS listing service today in 20 states representing 65% of the U.S. existing home market. Within the next few months, it will roll out this service to a total of 37 states, representing 84% of this market, before going national by the end of the year.
"This will send shock waves through the industry," said Joseph J. Fox, CEO of Iggys House, Inc. "There is a lot of money at stake - about $65 billion annually in real estate commissions. This new model will have an immediate impact on the status quo."
MLS is the most important channel sellers can use to attract potential buyers. More than 70% of all homes are sold through the MLS. MLS listings also cause homes to appear on leading real estate websites like Realtor.com. Iggys House provides sellers with access to both marketing channels for free.
"Our service is totally free, and there is absolutely no catch," Fox added. "This is the real McCoy."
Immediate Impact on Consumers
"People wonder why the Internet has not had a greater financial impact on the real estate industry," Fox said. "The reason is that the underlying model is rigged to benefit agents. The primary function of most real estate web sites in existence today is to drive consumers towards those agents. No other website empowers consumers more than Iggys House."
"By breaking open the MLS we are providing over $500 million worth of services for free to millions of home buyers each year," said Fox. "For the 1.1 million people who try to 'sell by owner', we provide incredible exposure to millions of buyers via the MLS. For the over 400,000 sellers who pay a fee to be MLS-listed, we now offer it for free. Why would anyone ever 'sell by owner' again, when they can 'sell by Iggy'?"
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