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What can HomeMaxima.com provide?
HomeMaxima.com provides three innovative bidding platforms: For Sale By Owner (FSBO) Auction, Home Auction and Agent Commission Bidding. HomeMaxima.com is the first to create an auction platform accommodating diversified groups of sellers: individual sellers and their agents, banks, lenders and new home builders. HomeMaxima.com optimizes real estate transactions for buyers and sellers. This real-time and leveled playing environment is a win-win-win solution for property sellers, buyers and agents/brokers.

How does FSBO Auction work?
The auction process is binding.

FSBO Auction - Seller Side
The seller is the property owner. When listing, seller side should set auction starting time a few weeks into the future. This will allow time for preview and for qualifying buyers. Any time during preview and before auction ended, seller can set "approved bidders" to allow qualified bidders to bid. Seller side can set a Starting Bid and a Reserve Price (minimum acceptable price). Seller can set auction start date at any desired future time and auction duration has range from 1 to 30 days. If property is not sold, seller can repost (fresh posting) or relist property.

FSBO Auction - Buyer Side
Individual or organization buyer can directly bid on FSBO auction. If the FSBO listing includes Buyer's Agent Commission (owner pays), buyer may use agent's support in real estate transaction. Buyer should pay an in-person visit and preview interested property before bidding.

FSBO Auction - Transaction Fee (Auction Cost)
FSBO Auction service is a FREE of charge for sellers (property owners). When the auction is ended and Reserve Price is met, the winning buyer pays HomeMaxima.com a transaction fee of 0.75% of property sales price.

FSBO Auction - Who pay Buyer's Agent Commission?
See Notes

How does Home Auction work?
The auction process is binding.

Home Auction - Seller Side (Owner and His/Her Agent)
Individual seller must select an agent to represent himself or herself. The agent then lists seller's property on HomeMaxima.com. When listing, seller side should set auction starting time a few weeks into the future. This will allow time for preview and for qualifying buyers. Any time during preview and before auction ended, agent can set "approved bidders" to allow qualified bidders to bid. Seller side can set a Starting Bid and a Reserve Price (minimum acceptable price). Seller side can set auction start date at any desired future time and auction duration has range from 1 to 30 days. Banks, lenders, or new home builders with appropriate license to conduct real estate transactions, can list property directly or via agents. Sellers from this group can also use our platform to conduct online auction that they would normally conduct offline.

Home Auction - Buyer Side (Buyer and His/Her Agent)
Individual buyer must select an agent to represent himself or herself. Whether the property is existing, new, REO Foreclosure (bank-owned), or pre-foreclosure, it is in the buyer's best interest to work with an agent. Usually, the total commission, which is paid by seller, covers both listing commission and buyer's agent commission. Buyers should pay an in-person visit and preview interested property before bidding.

Home Auction - Who pay Buyer's Agent Commission?
See Notes

Home Auction - Transaction Fee (Auction Cost)
Home Auction service is a FREE of charge for sellers and their agents. Sellers include existing property owners, banks or lenders (REO Foreclosure), and new home builders. Sellers and associated listing agents do not pay any fee. When the auction is ended and Reserve Price is met, the winning buyer pays HomeMaxima.com a transaction fee of 0.75% of property sales price.

How does it work for real estate agents?
You can start by registering, then chose "Home Auction" and posting your current listings using form on Agent Page. For "Commission Bidding", you bid on available postings from sellers or buyers. There are simple steps shown on Agent Guide to help you understand Agent Commission Bidding process.

As agent, can I choose only the FREE Home Auction service?
Yes.

Who will be qualified to bid on HomeMaxima.com?

For FSBO Auction
The seller/owner determines which bidders are qualified to bid and usually approve bidders (individual or organization buyers) before auction starts, but bidders can also be approved during auction period.

For Home Auction
The seller side determines which bidders are qualified to bid and usually approve bidders before auction starts, but bidders can also be approved during auction period. Buyers via their agents need to get approved before bidding. A bidder must be an agent representing a genuine buyer.

For Agent Commission Bidding
Agent's locality (City or Covering Zip Codes) and experience will be required for bidding. If agent's City does not match seller's or buyer' specification, then agent's Covering Zip Codes will be used for comparison. When posting, property seller or buyer can specify desired bidders (agents) in term of years of experience and bilingual skill. Seller or buyer can also specify "Preferred Agents" bidding (only selected agents can bid). If seller or buyer selects "Preferred Agents" bidding, agent's locality is no longer applied. All agents must have at least 1 year of experience to bid.
NOTE: When registering, agent can choose Covering Zip Codes that are inside or outside agent's City.

Agent Commission Bidding - Who are Preferred Agents?
Preferred Agents are those that you have already known or someone you choose after viewing their profile and rating at HomeMaxima.com. You can even have agents that you knew offline be your Preferred Agents. But you may need to invite them to register. Agent's username is needed to set Preferred Agents Bidding. When you set this type of bidding, agent's experience and locality will no longer be applied. Note that once being set, Preferred Agents bidding cannot be reversed and you will receive only 1 wining bid (instead of 3 wining bids as normal bidding).

Agent Commission Bidding - Is there any guideline for agent services?
Yes, all agents must fulfill The Minimum Required Services. Upon this basis, agents should provide a combination of truly good services and competitive commissions to win business.

What are the costs for real estate or mortgage agents to use HomeMaxima.com?
See details of Agent Fees.

Agent Commission Bidding - How does one agent distinguish from others? Agent's profile will show case agent's background, expertise, sales volume, client's testimonials, extra services, etc.

Why should sellers and their agents list properties on HomeMaxima.com? Traditional offers and counter offers may not be optimal, considering the market condition. Dynamic online auction entices more buyers and provides better market pricing to both sides of the equation. And with clear feedbacks from buyers, sellers would likely adapt to more realistic pricing. As a result, transactions may close faster.

Agent Commission Bidding - What's in it for property sellers?
No more 6% commission. Systematic real-time bidding results lowest commission and highest cost saving.

Agent Commission Bidding - What's in it for property buyers? Systematic real-time bidding results highest rebate money in your pocket.

Agent Commission Bidding - How does it work for property sellers or buyers?
You can start by registering and posting your request using Agent Bid forms on the Home Seller, Home Buyer or FSBO Page. Additional info are shown on Seller or Buyer Guide to help you through seller's or buyer's process.

Agent Commission Bidding - Do sellers or buyers pay to use HomeMaxima.com?
This service is FREE of charge for sellers and buyers. However, *seller and *buyer obligations are applied. *See obligations.

What do seller and buyer need to know about agent commissions?
In real estate transaction, usually seller pays all agent commissions, which is deducted from sales price at closing escrow. It is up to the seller and the Listing Agent (seller's agent) to decide on the total commission and the commission share of each side. For example, if the total commission is 5%, the seller's agent commission could be set at 2%, and the buyer's agent commission at 3%; or the commissions could be divided equally, 2.5% and 2.5%. It is practical and logical to offer higher commission on the buyer side. The agent on the buyer side is also called the "Selling Agent".

How do Mortgage Agents get business?
There are 3 ways you can get clients: First is via mortgage leads, second is via the Ranked Mortgage Offers page, and third is via the "Mortgage Offer" button of buyer's posting. With the first, immediately after buyer posting, you will receive buyer's posting details and you may contact client via email to make mortgage offer. With the second, you need to post your mortgage offers, after viewing your offers on the Ranked Mortgage Offers page, client may contact you via email. With the third, you may contact client by clicking on "Mortgage Offer" button. The display of Ranked Mortgage Offers, which is available to all buyers, can be invoked at the Home Buyer page.

How do Ranked Mortgage Offers display?
When agents post their mortgage offers, we have a ranking mechanism that ranks offers in real-time. The ranking is based on loan type, rate, point, and closing costs. The Home Buyer Page has a link to display mortgage offers.

Can newly licensed agents make referrals?
Yes. All agents, including newly licensed ones, can refer other agents, property sellers or buyers.

Who pays referral fees and how much?
Referral fees are paid by HomeMaxima.com resulting from either the transaction fee (auction cost) that we collect from buyers or the agent fee that we collect from agents (Commission Bidding). Referral fee is 20% of what we collect.

We are users from other countries; can we use HomeMaxima.com services?
Sorry, no. HomeMaxima.com services are for users and agents in the USA.

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