FAQs
Is ListWise a real estate brokerage or agent?
ListWise is a platform that connects homeowners with great local real estate agents who are willing to work under an incentive-based commission structure. We do not directly employ agents to sell your home. Instead, we make it easy for you to connect with multiple agents that match your specific needs, compare offers from them, and hire the agent of your choice with an incentive contract, ensuring that whoever you hire is motivated to help you get the highest price for your home.
Are there any obligations to trying ListWise?
No, there are no obligations or commitments to try ListWise. If you try ListWise and don’t want to move forward with any of the agents or incentive contracts we obtained, you are free to hire a real estate agent outside ListWise just as you normally would.
Do you sell my data or provide it to agents?
We prioritize your privacy. We do not sell your data or share it with real estate agents without your explicit consent. Agents only receive your contact information when you authorize us to share it, which is typically during the process of confirming appointments to view your home. Your data is protected with strict privacy policies and security measures. Your trust and privacy are paramount to us.
How does ListWise make money or get paid?
ListWise receives compensation from agents for assisting them in finding and efficiently competing for listings. When a successful home sale occurs for a homeowner that we matched with an agent, the agent pays ListWise a fee. The homeowner does not incur any costs or fees when using ListWise's services.
Can I use ListWise even if I already have a preferred agent in mind?
Absolutely! If you have specific agents you'd like to work with, simply provide their names at the beginning of the process. If they have worked with us before, we will include them in the list of recommended agents for your property. If they haven't worked with us, we will reach out to them, explain our incentive-based approach, and invite them to participate.
ListWise offers valuable transparency and options in the agent selection process. Even if you have a preferred agent, it's beneficial to have multiple offers and perspectives. This allows you to make an informed decision and ensure you're getting the best value for your real estate needs.
ListWise offers valuable transparency and options in the agent selection process. Even if you have a preferred agent, it's beneficial to have multiple offers and perspectives. This allows you to make an informed decision and ensure you're getting the best value for your real estate needs.
How do you determine what 3-5 agents will give me offers to list my property?
To find the right agent for you, we start by understanding your preferences. We ask several questions to understand your preferences around things like amount of local market experience, years of experience, and whether you prefer agents affiliated with national brands or local brokerages.
Based on your criteria, we identify agents from our network who meet your qualifications. If we already have suitable agents, we include them in the selection process. Otherwise, we proactively reach out to agents in your area who possess the specific qualities and expertise you value. Our goal is to ensure you receive offers from agents who closely match your preferences and can best meet your needs.
Based on your criteria, we identify agents from our network who meet your qualifications. If we already have suitable agents, we include them in the selection process. Otherwise, we proactively reach out to agents in your area who possess the specific qualities and expertise you value. Our goal is to ensure you receive offers from agents who closely match your preferences and can best meet your needs.
How can I save money on the 2.5 to 3% of the buyer’s agent commission?
When working with ListWise, each prospective listing agent will provide you with a customized offer that includes their recommendation for the buyer's agent commission, tailored to the unique characteristics of your home. These agents are aware that a lower buyer's agent commission can result in more savings for you. Consequently, they often strive to offer commissions below the standard 2.5 to 3% in order to compete and earn your business.
Do I have to hire the agent with the highest Participation Price?
No, you can hire whoever you want. The decision on which agent to work with to sell your home is often based upon much more than just economics. There are also the elements of experience, qualifications, intangibles like personal fit, as well as your own personal priorities and preferences. Our goal at ListWise is to give you a range of options and then provide you with the tools to help you make an informed and confident decision when selecting an agent.
If I use ListWise, how long is the Listing Agreement?
The Listing Agreement duration is based on your desired time frame for selling. Our standard default is 3 months, but we can use a shorter duration if you are looking to sell faster. Agents are aware of the listing agreement term and their offer to you will and will reflect it in their offers to you. We prioritize your needs and provide flexibility to accommodate your specific timeline.
What happens after I sign the Listing Agreement?
Once you sign the Listing Agreement, you will proceed to work with the agent in the usual manner. The agent will actively market your house, bring you offers, and act as your fiduciary representative. The only distinction in our approach compared to the traditional method is that the Listing Agreement incorporates a commission schedule that enables you to compensate the agent based on the results they deliver, rather than a fixed percentage fee. This incentivizes the agent to strive for optimal outcomes on your behalf.
How do agents set the Participation Price?
Agents typically set the Participation Price based upon factors such as the sale price they think they can achieve, their desired amount of compensation, how much work they think a home will be to sell, and how strongly they want to compete for a given listing.
