Rewarding the Savvy Home Buyer

PayHomeBuyers.com unveils its new service to Bay Area home buyers.

SAN FRANCISCO, June 27 /PRNewswire/ -- A new service opened its virtual
doors to Bay Area home buyers this past week. Home buyers who do the
"house-hunting" on their own can receive 60% of the agent's commission when
they buy a home.

Buyers who register with PayHomeBuyers.com are assigned an agent who
provides complete real estate service, but does not take clients on tours.
Buyers are expected to drive themselves to homes and tell their assigned
agent when they are ready to make an offer. The agent then handles all the
technicalities to complete the transaction.

"Today's market is very different from yesterday's," says Ivan Ramirez,
co-creator of PayHomeBuyers.com. "Home buyers now have the tools they need
to do the home shopping themselves."

According to NAR's 2006 Profile of Home Buyers and Sellers, over 70% of
home buyers surveyed used the internet to find homes(1). Of those surveyed,
100% started looking at homes online first, and spent an average of 4.8
weeks doing research before contacting an agent(1). Today, with more than
11 months worth of housing inventory(2), finding homes for sale has become
much easier.

"It's great! Getting paid for what I'm already doing," says Charlene
Roberts, a home buyer registered with PayHomeBuyers.com. With a 60% rebate,
a home priced at $300,000 qualifies for up to $5400 back. The payment is
mailed to the home buyer in the form of a check approximately two weeks
after the purchase is complete. "I'm going to use the money for a new
bedroom set, a Plasma TV, and maybe the new iPhone too!" adds Ms. Roberts.

What sounds easy for some may not be for others. "Many first time home
buyers need a lot of help from agents," says Adolfo Rios, president of RIOS
Real Estate in the East Bay. "They need to be guided every step of the way
so it's unlikely they will find this type of service useful."

But Ivan believes many will jump on the bandwagon because of the large
pay check involved. "We're not for everyone, some buyers are more demanding
and need an agent present at all times, but for those who don't, this will
be the new, smart way to buy a home."

Buyers who want sign up or learn more can visit
http://www.PayHomeBuyers.com.

1. Mike Parter. "Internet Buyer vs. Traditional Home Buyer". 8 Feb
2007.
http://rismedia.com/wp/2007-02-07/internet-buyer-vs-traditional-home-buyer/

2. Bizjournals.com. "California's unsold inventory index for homes in
March hits 11.6 months" 25 April 2008.
http://www.bizjournals.com/sanjose/stories/2008/04/21/daily80.html?ana=from_rss

[Via Real Estate California]