StopLyte Offers Discreet Home Matchmaking; No Sales Commissions as Sellers Take Control
(PRUnderground) August 17th, 2024
According to multiple business news sources, August 17th begins the biggest shakeup in a century to hit the US residential real estate market, with dramatic impact to the costs of buying or selling a home nationwide.
Substantial realty changes were agreed to in March of this year when the National Association of Realtors (NAR) announced a $418 million settlement agreement to resolve a mountain of lawsuits from home sellers over broker commissions. The settlement includes eliminating rules on commissions, while paying out damages over four years, starting August 17th.
Barrett Wood, a former real estate agent and the Founder & CEO of StopLyte, saw major changes in home buying and selling coming ‘several years ago’ and began developing StopLyte, a groundbreaking, industry-changing matchmaking portal, where Barrett aims to bring together buyers and sellers in a secure, interactive manner.
“After nearly a decade in the real estate industry I saw the writing on the wall with the increasing pushback from consumers on sales commissions and fees,” says Wood, “StopLyte is the first platform to put users at the center and in control of the home transaction process.”
Launching later this month, users will be able to opt into the StopLyte.com platform by identifying their home just like a traditional “stoplight,” with 3 options: Green (currently on the market), Yellow (open to selling under certain conditions), or Red (not yet open to selling).
Wood continued, “As consumers begin to take greater control of their home transactions, StopLyte offers a number of options far greater than typical “For Sale By Owner (FSBO)” listings. With discreet matchmaking of sellers and buyers, private
messaging, real time data exchange, and the ‘first look’ at many properties not found elsewhere – the site centralizes what buyers and sellers need the most, all in a safe, secure community environment.”
StopLyte.com will be live online this month with the first 2 pilot markets being Greenville / Spartanburg / Asheville (#36 US Market) and Nashville TN (#26 US Market), all updated daily with new data as additional markets will start to come online before the end of the year.
“We really are entering a whole new landscape for how homes will be bought and sold,” Wood continues, “The end of traditional commissions is a huge windfall for consumers.”
For more information, visit www.StopLyte.com
About StopLyte
As consumers begin to take greater control of their home transactions, StopLyte offers a number of options far greater than typical “For Sale By Owner (FSBO)” listings. With discreet matchmaking of sellers and buyers, private messaging, real time data exchange, and the ‘first look’ at many properties not found elsewhere – the site centralizes what buyers and sellers need the most, all in a safe, secure community environment.
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Original Press Release.
