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6% Realtor Commissions' Days Are Numbered, Says New Company.

Online Startup Joins Feds in Challenging the 'Standard 6% Commission'

SEATTLE, Oct. 26 /PRNewswire/ -- Following on the heels of a Justice Department antitrust lawsuit filed last month against the National Association of Realtors, Seattle based Progressive Homesellers Inc. has introduced a new service that is already generating controversy from traditional real estate companies.

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Progressive Homesellers connects home sellers with agents at brokerages like Windermere, RE/MAX and John L. Scott who have agreed to list and sell properties for a flat $1500 fee. The company makes money by charging Realtors a referral fee for each qualified lead it generates.

Within the first 72 hours of launching on October 14th, over 40 homeowners in Washington State had signed on to take advantage of the company's unique service. "We are very happy with the response," said CEO and founder Jeremy Stamper. "People realize it's outrageous for Realtors to charge $20,000 to sell the average Seattle area home. The backlash has begun."

Progressive Homesellers has already been threatened with legal action from established brokerages. On October 21st, John L. Scott, through an attorney, threatened a tortious interference lawsuit against the company, claiming it is interfering with the brokerage's contractual relationships with its clients. "In most industries, directly offering someone a better deal is called healthy competition", Stamper says. "In the real estate industry, it's considered almost unethical".

Although Progressive Homesellers is not a brokerage, Stamper predicts that homeowners will increasingly turn to companies like his to find the right agent. "Why go to Windermere and pay a six percent commission to someone who might have received their real estate license yesterday? With us, you spend five minutes online and end up with an experienced agent at a brand name brokerage. The only difference is: you pay $1500 instead of $10,000 or more."

Progressive Homesellers's affiliated agents keep costs low by conducting business remotely; by phone, fax and email. "The agents we work with don't do house calls. There will be no Godiva chocolates or champagne at closing. You will, however, save a small fortune".

About Progressive Homesellers

Progressive Homesellers matches property owners with experienced agents at brand name brokerages who have agreed to list and sell homes for a flat $1500 fee. Progressive Homesellers is privately owned and based in Seattle, Washington. For more information about Progressive Homesellers, please visit our website, or call 1-206-624-7554.

CONTACT: Jeremy Stamper of Progressive Homesellers, +1-206-624-7554, or

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Publication:PR Newswire
Date:Oct 26, 2005
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