The company offers an alternative to the traditional real estate transaction, one that eliminates the middleman in favor of a streamlined, digital approach. Faira is offering a unique service which enables sellers to sell their home directly to buyers without the need for a real estate agent. This eliminates the cost of commission associated with agents, as well as all of the other related expenses, such as closing costs, appraisals, etc.
The way it works is that sellers list their property on the Faira platform. They are able to package their home with all the necessary documents and disclosures required by local laws. Once a buyer sees a listing they are interested in, they can make an offer to purchase. The offer can then be accepted or negotiated. Once the offer is accepted, both parties can work together directly, with Faira providing guidance and support but never acting as an intermediary.
Once all the paperwork is signed, the buyer's funds are held in escrow until the closing date, at which point they're released to the seller. Faira then charges a flat fee, instead of the traditional commissions associated with other services.
This new model of real estate transactions has the potential to completely revolutionize the industry, as it eliminates any potential conflict of interest between the seller and buying agent, and ensures that sellers and buyers are getting the best possible deal. It also helps to protect buyers from any hidden costs they may not be aware of, as all of the necessary paperwork and disclosures are included in the listing. Additionally, it saves sellers money by not having to pay expensive commissions to real estate agents.
Overall, Faira is looking to revolutionize the home selling process by eliminating the need for a real estate agent and helping sellers and buyers to transact directly. It offers an alternative to the traditional model which streamlines the process, reduces costs, and protects both parties involved. It may still be early days for Faira, but the potential for disruption is clear.
This article was contributed on Nov 04, 2023
