New brokerage bets on buyer leads over listing commissions

Showings uses its platform and artificial intelligence to streamline the listing process, reducing typical listing time from about 20 minutes to roughly three to five minutes. The no-listing-fee structure applies exclusively to primary homeowners who live in the home they are selling. The company initially rolls out across four markets to collect operational data and refine its model before expanding nationally. Showings addresses concerns about operating without listing agents by using assisting agents, licensed real estate agents who help sellers list homes using Showings tools without commission-based pay. Assisting agents can also close additional buyer-side transactions and earn referral fees by routing leads within the network, while agents receive buyer inquiries and showing requests generated through listings without paying for the leads.

"“So, whereas a list would normally take 20 minutes, we'll probably knock it down to somewhere between three and five minutes. It's not a difficult process anymore. It's just a matter of letting sellers know we're out there and we're available.”"

"“The no-listing-fee structure is built exclusively for primary homeowners who occupy the home they're selling, according to Showings' website. Initial rollout across four markets is intended to serve as a testing phase allowing the company to gather operational data and refine its model ahead of broader national expansion.”"

"“Showings employs what it calls assisting agents licensed real estate agents who are not paid commissions but assist sellers in getting homes listed using the company's platform and artificial intelligence tools. Assistant agents are essentially referral agents who can work for any other brokerage.”"

"“Buyer inquiries, showing requests and leads generated through listings are sent directly to the agent. Showings says agents do not pay for the leads. Agents can work the leads themselves or refer them to other agents in the network in exchange for a 30% referral fee”"

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