Compare SimpleShowing and HomeVestors
For Buyers
Answer: SimpleShowing is a full-service real estate agent that offers savings to homebuyers and home sellers while HomeVestors is a direct home cash buyer that buys select homes off-market with cash offers and resells them at a profit to homebuyers
Buying and Selling with SimpleShowing
SimpleShowing is a multi-state savings broker, offers consumers listing savings and buyer’s refunds in select areas across Florida, Georgia, Alabama.
SimpleShowing Pricing
SimpleShowing offers listing savings to sellers ($5,000 flat listing fee) and commission refunds to buyers (50% of the Buyer's Agent Commission). After the first five showings, the buyer’s refund will decrease 5% for each set of five showings requested. Buyer’s refund is subject to a minimum net commission of $3,500.
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
SimpleShowing Editor's Review:
SimpleShowing is a consumer-focused flat fee real estate broker. As a listing agent, SimpleShowing works with a seller to prepare homes for listing, including taking professional photos, pricing homes, and publishing marketing materials.
SimpleShowing lists all homes on the local MLS as well as typical MLS Aggregators. SimpleShowing maintains a well-designed online platform that allows sellers to communicate with all parties involved in a sale.
As a buyer’s agent, SimpleShowing works with buyers to find a home, schedule inspections, negotiate repairs and finalize the purchase.
SimpleShowing further offers unrepresented buyers to make direct offers to sellers. When a self-represented buyer approach SimpleShowing about seller’s listing, SimpleShowing waives the 2.5%-3% Buyer’s Agent Commission in favor of the seller.
SimpleShowing Direct option allows parties to save a significant amount in buy-side commissions, but also requires the buyer to accept the potential downside of dual representation.
Theoretically, a buyer can make an offer that is 2.5%-3% less than a competing offer from an agent-represented buyer, however, the buyer also loses all benefits of individual representation and forfeits an option to get a buyer’s refund from their agent.
Company extensively uses the current technology to help book showings with better coordination. SimpleShowing offers overall great value to consumers looking to buy or sell a home.
Where does SimpleShowing operate?
Buying and Selling with HomeVestors
HomeVestors (also known as We Buy Ugly Houses) is a franchise network where each individual local franchisee considers the condition of a home and makes an offer to pay cash for the property. In determining the offer, each franchisee discounts from the estimated retail value after it’s fully renovated.
HomeVestors Pricing
HomeVestors franchisees make money with a difference between buying and selling each home. Typically an offer equal to 70% of home value is expected from this type of sale after any cost of the repairs and resale.
Listing Services
- This Service Does Not Represent Sellers
Buyer's Agent Services
- This Service Does Not Represent Buyers
HomeVestors Editor's Review:
HomeVestors franchisee will buy a home at a price that is below market value due to necessary repairs, renovation, and other factors. After the franchisee buys the home, it renovates and resells it for a profit or rents it out to qualified tenants.
With the low offer price, comes a convenience of an all-cash closing when selling a home. HomeVestors franchisee typically closes a home in 30 days of receiving cash offer.
Typically each franchisee uses the following factors when determining the offer: existing condition of the home including repairs needed, time it will take to finish needed repairs, value of a home compared to other comparable homes in the area, real estate commission required to resell, costs associated with maintaining a home during repairs, including taxes, payments, insurance, utilities and homeowner dues.
The main disadvantage of using HomeVestors is high losses in homeowners' equity. HomeVestors is a "heavy" model, ready to buy homes in all-cash transactions.
As any real estate investor, HomeVestors franchisee is susceptible to losing money in any given transaction. This model is prone to a number of risk factors, high operational costs and a continued need for higher-than-average Return on Investment (ROI) with each flip.
HomeVestors franchisee is not legally bound to represent consumers, its main legal obligation is to its stakeholders. Moreover, because most homes in the United States are financed, homeowners own only partial net equity in their home.
Banks receive the same amount of the remaining mortgage sum regardless of how any given home is sold, or how much of homeowners' net equity is lost in the transaction with HomeVestors.
Today, there are a number of highly qualified real estate agents who offer competitive listing rates and flat fee listings across the United States. Unless a situation absolutely requires a quick sale, Geodoma recommends that consumers first consider using a licensed real estate agent working on competitive terms to properly list their homes on the open market before turning to HomeVestors option.