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Menlo Atherton Realty - Redefining Real Estate in the Internet Age


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Menlo Atherton Realty - Redefining Real Estate in the Internet Age

  1. 1. Menlo Atherton Realty - Redefining Real Estate in the Internet Age
  2. 2. • When he started in the real estate industry in 1991, Todd Beardsley offered his services on a traditional commission basis. Responding to the rapidly changing expectations of buyers and sellers, he and his wife Inna implemented a commission rebate model when they established Menlo Atherton Realty in 2006. In addition, Todd Beardsley’s approach to doing business reflects two recent changes in the real estate market, both driven by rapid advances in technology.
  3. 3. • Buyers used to visit a Realtor’s office and spend hours poring over massive loose-leaf volumes containing thousands of pages, each of which provided a picture and some pertinent data about a home for sale. After noting the homes they were interested in, the buyer’s agent would call the sellers’ agents to ascertain whether the homes were still on the market, and to make an appointment for viewing. Agents and their clients often spent countless days driving from house to house viewing properties.
  4. 4. • Today, however, agents are no longer the gatekeepers of real estate sales notices, and buyers can review available properties online, often being able to take a virtual tour online. Because so much information is available from the Internet, the need for office visits with the Realtor and on-site property inspections is dramatically reduced. This frees up agents’ time, allowing them to see more clients in a week and generate more sales.
  5. 5. • Employing a commission rebate model, Menlo Atherton Realty, of Atherton, California, offers buyers a rebate of 1.5% to 2% on the sale commission. The firm offers sellers a similar incentive to list their properties, offering them savings of 1% to 1.5% of the sale price.