Flyhomes Reviews
Buying and Selling with Flyhomes
Flyhomes is a multi-state full-service real estate agent offers consumers listing savings and buyer’s refunds in select areas across Washington, Oregon, Illinois, Massachusetts, and California.
In Oregon state law currently does not allow Flyhomes to offer buyer’s rebates to consumers.
Flyhomes Pricing
Flyhomes offers listing savings to sellers (1% listing fee) and commission refunds to buyers (32% estimated rebate where allowed by State law.)
Flyhomes also offers buyers Cash Offers stand-in program, where the company either assures buyer’s offer or buys a home and resells it to the buyer for an added fee (1% service fee).
A similar Trade-in Program is available for sellers.
Listing Services
- MLS Listing
- Zillow, Trulia, etc. Listing
- Accept and Deliver All Offers and Counteroffers
- Hold Open Houses
- Professional Photography
- Professional Floor Plans
- Yard Signage Installation
- Spare Key Lock-box Installation
- Schedule Inspection Services
- Schedule Private Showings
- Closing Duties
Buyer's Agent Services
- Find the Property
- Accept and Deliver All Offers and Counteroffers
- Recommend Other Professionals
- Attend Inspection Services
- Schedule Private Showings
- Negotiate Needed Repairs
- Closing Duties
Flyhomes Editor's Review:
Flyhomes is a consumer-focused saving real estate broker that offers a wide variety of value-added propositions for home buyers and sellers in select areas where it operates.
Agent Listings
As a listing agent, Flyhomes works with a seller to prepare their home for listing, including taking professional photos, pricing home, and publishing marketing materials. Flyhomes lists all homes on the local MLS as well as typical MLS Aggregators.
Trade-in Program for Sellers
Flyhomes is not an iBuyer. Flyhomes offers sellers a Trade-in Program where the company runs a pricing analysis on seller's current home and sets a conservative price guarantee for the amount that it will pay to buy it outright.
Once a seller selects a new home and her purchase offer is accepted, the company lists the seller's current home on the market in order to sell it for more than the price guarantee amount. Once the home sells company accounts for its expenses. Flyhomes Trade-in Program is a value-added proposition and a viable alternative to iBuyer Offers. Unlike Flyhomes, with an iBuyer seller inevitably loses a lot of their home net equity in the process due to the risk of holding and re-selling the home by the iBuyer. Sellers using Trade-in Program do not lose equity and only pay a moderate fee in the process. Granted, Flyhomes does not offer "quick cash" iBuyer proposition, where the seller still needs to list their home in the open market and wait for better offers to come in and pay expenses back, but the equity savings is why we rate this program as genuinely consumer-focused.
Sellers who use Flyhomes Trade-in program do not receive a rebate on the buy-side and Flyhomes charges sellers 1% commission as a service fee (this does not include the buy-side agent commission) to list their home. Flyhomes evaluates seller's home before the seller can participate in Trade-in Program and reserves the right to request repairs prior to seller's inclusion in the program.
Buyer's Agent
As a buyer's agent, Flyhomes works with buyers to find a home, schedule inspections, negotiate repairs and finalize the purchase. Flyhomes offers overall great value to consumers looking to buy or sell a home including a convenient "request tour" option on the Flyhomes website in order to easily schedule home viewings with their service team.
Guaranteed and Cash Offers for Buyers
Flyhomes offers buyers a unique Cash Offers stand-in program where Flyhomes purchases a home outright from the seller on a buyer's behalf in as few as 2 days and sells it back at the same price to the buyer on an agreed upon closing date.
When a Cash Offer is not available, buyers can utilize Guaranteed Offer instead. For the Guaranteed Offer program, Flyhomes guarantees the seller that the home will close, and if it doesn't, Flyhomes will then buy the home for the same terms.
Cash Offers stand-in program is not free, it is also highly selective. Cash Offers program may come with added risks in the event the buyer decides to back out of the sale. Buyers should carefully review their agreement with Flyhomes before participating in Cash Offers stand-in program so to fully understand the fees and potential penalties for backing out of the Cash Offer once it is made.
Buyers can only utilize Cash Offers when working with Flyhomes, which means that if there is another local real estate agent who offers a buyer a better commission refund, such as a flat fee option, the buyer cannot take advantage of these larger savings with Cash Offers.
In some cases, an alternative savings model may better serve buyers financially than Cash Offers proposition due to a sheer price tag of standard real estate commissions.
FAQ for Flyhomes
What is Flyhomes?
Flyhomes is a multi-state full-service real estate agent and a stand-in program with an ability to make cash-backed offers. Overall, Flyhomes is a value-added proposition to home buyers and home sellers with transparent pricing and excellent service.
Is Flyhomes legitimate?
Yes. Flyhomes is a legitimate real estate agent that offers savings to consumers. Flyhomes successfully represents home buyers and home sellers in real estate transactions in select areas across Greater Seattle, Chicago, Portland, San Francisco Bay Area, and Boston.
Where does Flyhomes operate?
Flyhomes User Reviews
Ends up they weren't being upfront about how they settle on a loan amount. They don't take the average of your last two years, they take your WORST year. So if you're in any industry that got hit by the worst of the pandemic in 2020, that's the year they judge you by.
FlyHomes could've saved us weeks of hassle if they'd been up front about that.
The cash offer option helped me get an offer accepted BUT
They have no motive to complete your refinancing promptly. So you just sit around and watch them waste their time while the interest you're paying on the short term loan grows.
The portal that the use is annoying. It constantly asks you for things you have already given them, with no further explanation.
I thought that a large reputable company would have this process dialed in. I was wrong. There is plenty of negligence to go around. No one seems to know what they are doing.
They will hit you with a bait and switch on interest rates also. I was quoted 3.875% then they turn around change it to 4.125% while I was still actively working with them and giving them all the documents they need.
This rate change is going to cost me thousands over the lifetime of the loan.
I worked with my real estate agent to get a signed document put together saying that the seller would install a missing air conditioning unit. The seller signed the document. After transferring the money they said they won't be installing the A/C, despite having a signed document.
I expected my agent to at least fight on my behalf a bit, but they basically told me to roll over and take it or risk losing my earnest money. So now I'm paying for a $7,000 A/C unit and install out of my own pocket.
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Feel free to contact us if you need further assistance. At Geodoma we aim to make the opportunity of homeownership transparent, affordable and an open experience.