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FAQs
Q. What is condoDomain.com?
A. CondoDomain.com is the online marketplace for condominium buyers. An innovative real estate brokerage, we work exclusively with buyers and only accept a flat fee for our services. Dedicated to the buy-side of the real estate industry, CondoDomain.com utilizes its local market expertise and high-tech capabilities to offer the highest level of full-service exclusive buyers’ brokerage. CondoDomain.com, which serves the niche of urban living, has built its foundation on trust, transparency and customer loyalty.
Q. How does CondoDomain.com give me Cash Back?
A. Whether you purchase property worth $300,000 or $3M, we provide the same professional service as an exclusive buyers’ broker, and we do it all for a flat fee. It does not take more work on our part to sell a higher priced property, so we simply don’t charge more. After the closing, we give you a check that you can use for just about anything.
Hers the Fun Part: We only keep $5,000 out of our commission and refund you the remainder. So, on a $500,000 purchase, we are paid 3% ($15,000) by the seller’s agent: we take our flat fee of $5,000 and refund the remainder to you—$10,000 in this example!
Q. What can I do with my commission refund?
A. Anything you want! Many of our buyers take their cash check and use it to buy furniture or pay condo fees. Some have choose to pay down their mortgage principle, get a lower rate or pay their closing costs . . . and some have even donated their refunds to charity.
Q. Why do we do this?
A. Why should we get paid more if you spend more? The buyers’ brokerage side of the real estate business is actually setup backwards in our opinion, and we saw an excellent opportunity to change that. We believe that a flat fee exclusive buyers’ agency is not only fair but also allows our consultants to give the same amount of attention to our $300,000 buyers as to our $3,000,000 buyers.
Q. How is CondoDomain.com different from other real estate websites?
A. CondoDomain.com is the first and only independent online real estate brokerage dedicated to condominiums and urban properties. So, you get to work with our dedicated sales and negotiation team and have access to our comprehensive database of available Boston properties. Condos are our niche! We know the streets, neighborhood developments and lifestyle projects better than anyone else in the city.
Q. How does a typical buyer interact with your site? Agents?
A. Most buyers start their search online. Our site provides more listings and local information than any other real estate resource, so many of our buyers start off by registering for free and browsing our databases of MLS listings, new construction listings, FSBO (For Sale by Owner) properties, foreclosures and even auctions. Generally, after a few weeks of searching and visiting some open houses independently, buyers contact us to schedule private showings and for some consultation. If the buyer wants to make an offer, one of our consultants will write it up and present the offer to the selling agent. After acceptance we handle working on contingencies, mortgage referrals, legal referrals, inspections, appraisals, etc.—all the way to the closing ! Once the property has closed, we cut you a check for the remainder of our commission—3% commission minus our flat fee of $5,000. (On a $500,000 purchase, traditionally that’s a cash check of $10,000 to you!)
Q. Is condoDomain.com a real estate brokerage?
A. Yes and No. CondoDomain.com operates in 33 markets nationally. In all of them except Boston, CondoDomain.com is a condominium search portal. In Boston CondoDomain.com operates as an online real estate brokerage. CondoDomain.com is an exclusive buyers agency, which only works with buyers on a flat fee basis.
Q. Why was condoDomain.com created, who benefits?
A. Before CondoDomain.com was created, there was no single, online "community" to serve the condominium market in major cities. The virtual real estate market was fragmented and scattered, leaving buyers confused and overwhelmed. CondoDomain.com offers buyers a comprehensive resource to research information and properties, MLS listings, new construction developments, FSBO (For Sale by Owner) listings and even foreclosure auctions.
Q. Who can list properties on condoDomain.com?
A. Listings on our website come from six sources: MLS’s IDX Feed (including every listing in the local MLS database), new construction developments and units uploaded by the developer or their onsite sales and marketing agents, FSBO (For Sale by Owner) properties through our relationship with ForSaleByOwner.com, foreclosure listings via Foreclosure.com and even auctions through our various auction relationships.
Q. What resources are available on condoDomain.com?
A. CondoDomain.com was designed to provide users a valuable experience by combining state-of-the-art interactive tools in a visually pleasing environment. Users have access to the latest market news and property listings (with photo enhancing software) as well as valuable resources such as
- The Finance Center, which provides
- Daily Mortgage Rates
- A Mortgage Calculator
- Information on How to Apply for a Mortgage
- and more!
- The Ownership Guide, which includes essential information about
- Tax Savings
- When to Buy
- Renting vs. Buying
- And More!
- Links to City and State Websites
- Links to Utility Companies, Mortgage Companies, Home Inspectors, Appraisal Firms, Movers, and other advertisers.
- The Urban Living Guide, which includes helpful links to
- Restaurants
- Local Attractions
- And More!
Q. Why should I register, and what does it require?
A. Registering is free and only requires creating a username and password. It allows access to the entire site, including additional resources and use of state-of-the-art interactive tools that allow in-depth search capabilities such as our Search by Payment tool and side-by-side comparison shopping.
Q. Will condoDomain.com be in other cities? If so, when?
A. Yes, CondoDomain.com is planning a national expansion that will take place during 2008.
Q. I have an idea for condoDomain.com, how do I let you know?
A. We love to hear from our users. CondoDomain.com encourages all feedback, ideas and suggestions. Please send them directly to our founder Anthony Longo.
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