Honestdoor shakes up real estate industry with $500 MLS listings for Canadian homeowners
Sellers can now take control of the property-selling experience with Canada's leading online real estate platform.
EDMONTON, AB, Nov. 21, 2023 /CNW/ - HonestDoor, a leading proptech platform, is thrilled to announce the nationwide launch of its groundbreaking brokerage service, providing Canadian homeowners with an affordable and transparent way to list their properties on the Multiple Listing Service (MLS) for just $500. With this new service, HonestDoor continues to redefine the real estate industry by offering a unique opportunity for homeowners to take control of their property listings.
HonestDoor's brokerage service has already completed dozens of successful transactions. Homeowners can now list their properties on the MLS network across Canada, with listings that also appear on Realtor.ca, one of the nation's leading real estate platforms, within as little as 24 hours. In addition, these listings are featured on HonestDoor.com, a website that receives over 500,000 monthly visits and is steadily growing in popularity.
"Our brokerage service offers a compelling alternative to traditional real estate listings," said Daniel Belostotsky, co-founder and CEO of HonestDoor. "We manage the listing and placement on Realtor.ca, allowing homeowners to set the commission they wish to pay a buyer's agent. If an unrepresented buyer contacts the seller, the savings can add up to tens of thousands of dollars, depending on the value of the property."
At that point, both parties can speak directly and agree on a price. They can then reach out to many of HonestDoor's recommended real estate lawyers or use their own lawyer to ensure everything is legitimate. So far, 20 per cent of HonestDoor's listings sold without representation from either side, resulting in significant savings.
For example, an owner with a property valued at around $500,000 could save approximately $20,000 in after-tax dollars. HonestDoor's automated valuation models, which boast a 91 per cent accuracy rate, can assist in identifying the price of a home, making the HonestDoor platform a one-stop service for buying and selling Canadian properties.
The platform is not competing against excellent real estate agents but is offering an alternative for owners who want to steer the selling process, said Belostotsky.
HonestDoor's brokerage service has been used for a wide range of properties, including residential (condos, houses) as well as rural, recreational and commercial properties. Listings remain active for a full year, and homeowners have the flexibility to edit, remove and relist their properties as often as they like throughout the year.
The platform's commitment to transparency and customer empowerment extends to its offer to refund the $500 listing fee if, at any point, a homeowner decides to work with one of their preferred real estate agents.
HonestDoor's future plans include expanding to the consumer's buy-side, enhancing services, and providing valuable data for business clients. With its significant data resources and growing website traffic, HonestDoor is poised to become a prominent player in the online real estate portal industry. The company aims to complete thousands of listings in 2024 – a fraction of the approximately one million listings completed nationally each year – and grow from there.
HonestDoor is an online real estate platform that empowers Canadian real estate buyers, sellers, investors and lenders with property valuations and innovative brokerage services. The company's mission is to provide consumers with transparent, up-to-date and cost-effective solutions for all their real estate needs. For more information, visit HonestDoor.com.
HonestDoor is transforming the real estate landscape, offering homeowners a new way to take control of their property listings and save money, all while providing transparency and flexibility.
SOURCE HonestDoor
Media Contact: Dan Belostotsky, Honestdoor co-founder and CEO, Cell: (780) 970-3269, Email: [email protected]
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