The serge of iBuying firms threatens Realogy’s commission-based transaction model, prompting the company to roll out its own version last month in Dallas, Denver, and this week in Chicago. Several Realogy brands are working with Home Partners of America and are offering home sellers cash payable in 45-days.
According to Bill Young, Home Partners of America’s CEO, this allows home sellers to keep an offer in their back pocket while they try to get a higher price on the open market.