Colorado residents looking to sell their own homes now have another marketing tool. An online real-estate service called IggysHouse.com plans to launch today, allowing owners to post their homes on the coveted Multiple Listing Service.
Chicago-based Iggys House plans to launch the free service today in 20 states, including Colorado, California, Texas and New York.
MLS listings are reserved for registered brokers who offer the system as a way to expose homes to a wider audience. Traditionally, homeowners who tried to sell their homes without using a broker have been unable to access the system.
“This is going to send shock waves through the industry,” said Iggys House chief executive Joseph Fox. “Iggys is about breaking open the MLS. People want … exposure to the same product tools and services that agents use to get to millions of buyers.”
The service works like this: Sellers can post unlimited photos and videos on IggysHouse.com. Because Iggys House has joined MLS across the country, those listings will also be posted on MLS and other major real-estate websites, such as Realtor.com.
Fox said he is targeting the 1.1 million Americans annually who try to sell by owner, plus the more than 400,000 sellers who pay companies such as Help- U-Sell to post them on MLS.
Steve Murray, editor of Littleton- based trade publication Real Trends, said he doesn’t expect the website to have a major impact on the industry, since about 80 percent of sellers use an agent.
“There are multiple opportunities to list your home online,” Murray said. “I wish him luck, but I’ve seen a couple of these (companies) come and go. The economics just don’t work.”
Fox said Iggys House will make money by driving traffic to its sister company, BuySide Realty Inc.
Launched in 2006, BuySide Realty is a licensed online real-estate brokerage operating in five states that represents homebuyers. The company also plans to sell mortgages.
Fox expects to launch BuySide in Colorado by the end of the year.
Staff writer Julie Dunn can be reached at 303-954-1592 or jdunn@denverpost.com.
