One of the most innovated ideas I have seen in quite some time is the 990 Company’s approach to real estate sales and marketing.
While not necessarily a new idea, the founder of the 990 Sells Homes, Gary Hague, first introduced the concept of working with owners to help them sell their homes for a flat selling fee of $990 back in 1988. More recently however, the concept has been expanded on and offers great new opportunities to real estate firms in helping them to grow their listing portfolios. But I also see the 990 Company concept offering great opportunity to the home seller as well, especially one that has the time, resources and ability to market his or her own home. I’ve done all the research and there really is no downside to the 990 Company approach for the home seller, that I can see, and the reward can be substantial.
Under the traditional method of home sales, I would list a home with my agent at the standard 6% commission rate. The home would of course be listed on MLS for other agents to view and on occasion my realtor would hold an open house. If the house sold for $250,000 I would have to relinquish $15,000 of my home sale earnings to pay the sales commission.
On the other hand, if I were to run my own open house each weekend, market my home through social network channels and whatever other means I might choose and if I were to find my own buyer, one unattached to a real estate agent, then for a flat fee of $990, my realtor would handle the sales transaction and I would pocket the balance. Of course, I still have the option of selling my home through the traditional channels if an agent were to bring me a buyer. There really is no down side to this arrangement that I can see.
Since its recent founding, Greg Hague’s revolutionary sales and marketing concept has grown the 990 Company to over 1,100 agents. Greg understood that any sale completed under the 990 Company format would have a small financial reward however, he saw that the marketing potential of his concept would by far outweighed the fiscal losses that would be realized by the small number of $990 flat rate sales that would transpire.
A life filled with successes, Gary received his real estate license at age 18 and after cutting his teeth working for the family business, ventured off on his own. He has since engaged himself in a number of ventures including a luxury properties real estate firm and founding his own law group.