I-Agent Realty DC Interesting Study (Press Release)
By Anthony Longo 18 02 2008I-Agent Realty Inc. (www.i-agent.com), The DC metropolitan area’s only full-service online real estate company, today released the findings of its recent study comparing total home buyer savings through I-Agent.com vs. a leading competitor. During the six month period ending December 31, 2007, I-Agent.com clients saved $43,596 on average compared to $27,790 through its leading competitor.
On average, I-Agent Realtors were able to negotiate a final sales price 5.2 percent below the listing price compared to three percent negotiated savings through a leading competitor. I-Agent average list price during this period was $605,513.10. In addition to superior price negotiations, I-Agent gives customers a two percent rebate on their final purchase price, thus saving 7.2 percent overall. Findings are based on published MLS data.
I-Agent Realtors are able to focus on customer service instead of sales, with each backed by more than 50 successful transactions over the past two years; this experience provides an added advantage during seller negotiations.
“We’re thrilled to introduce exceptional savings for our clients. We strive to continually provide a level of customer service that exceeds client expectations,” states Carlos Reyes, I-Agent Realty’s Principle Broker. “Not only did our home buyers save, on average, more than $43,000, but I-Agent has also streamlined the entire home buying process, saving our customers thousands of dollars on Settlement and Lender fees.”
Unlike other Online Real Estate companies, I-Agent Realty provides comprehensive service via local agents. JC Choi, a past client of I-Agent Realty, states: “Contrary to expectations from using an online service, I-Agent worked diligently, meticulously and professionally to make sure I was happy. Every person I dealt with … was friendly, professional, and courteous.”
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Apparently iAgent has 2 different websites and it looks as though the general brokerage (which does and does not give discounts depending on which site you visit) included transactions from all agents (not all give the rebate) with the iagent.com (rebate site) statistics they “released”. This seems to me that they have manipulated the figures to include every agent in the brokerage’s sales. Not every agent gives the discount (so they claim on their site). So basically they are adding in agent transactions into the figures who have not given the rebate to consumers. It appears like they are puffing their stats and misrepresenting their website and services. They claim in their report that they add 2% to the price they negotiate, which is how they came up with the $43k number, but not all of the sales they used in their report were rebate transactions. Very misleading and unethical–discount companies like this are simply pathetic if you ask me.