SOURCE: Altisource Portfolio Solutions S.A.

Altisource Portfolio Solutions S.A.

June 29, 2016 09:00 ET

Owners.com Launches Innovative Real Estate Brokerage in Boston

Offers Home Buyers and Sellers Streamlined Realty Services With Choice, Convenience and Savings

BOSTON, MA--(Marketwired - June 29, 2016) - Boston has been experiencing a real estate boom, and elevated buyer activity, strong consumer confidence and low inventory have led to an increase in sales and home prices throughout the area. With this price appreciation, the cost of brokerage commissions is increasing, so finding money-saving opportunities is critical for consumers buying or selling real estate. Recently, Owners.com®, a top 10 brokerage, has expanded into Boston, providing a tech-enabled real estate service supported by agent expertise. This innovative brokerage can make it easier and more affordable to purchase a home.

Today, real estate information and data are readily available online, and buyers and sellers have become highly educated about their local markets and the necessary steps to close a real estate transaction. Even with all of this knowledge, most home sellers are still paying traditional real estate broker commissions of five to six percent of the sales price. These commissions are typically split between the seller's and buyer's real estate agents.

Owners.com can save Boston-area consumers thousands in commission payments compared to the traditional real estate model. Sellers can choose between various flat fee listing packages, and buyers working with an Owners.com agent can get a 1.5 percent rebate at closing. Buyers can research available properties from the Multiple Listing Service (MLS) and exclusive for-sale-by-owner listings, and a locally based Owners.com agent can assist with home tours, paperwork, negotiations and the closing complexities of a real estate transaction.

According to the Greater Boston Association of REALTORS® (GBAR), the median home sales price in April 2016 for single-family residential properties was $530,000. Based on this price, buyers in the Boston area could put up to $8,000 back in their pockets by using the Owners.com 1.5 percent rebate program. Based on this same price, sellers can also save with Owners.com, keeping over $12,500 that they might typically pay a traditional seller's agent in commission.

"Today's consumers rely on the web to efficiently manage and simplify their lives, and bringing this online approach to real estate is a natural extension of this behavior," said Steve Udelson, President of Owners.com. "From honing in on specific neighborhood searches to researching property values, consumers today are taking control of the process. We're thrilled to launch in this important market to provide local buyers and sellers access to the tools they need to manage a successful and cost-effective transaction."

About Owners.com®
Owners.com is an online brokerage that gives consumers a choice in the services they use to buy or sell their homes. Owners.com offers a broad inventory of homes from local MLS boards to for-sale-by-owner listings as well as technology-enabled tools that help consumers save money and time. Buyers and sellers can access a team of expert advisors to support their home buying and selling experience and save on the standard commissions. For more information, check out Owners.com, facebook.com/ownerscom and twitter.com/ownersdotcom.

About Altisource®
Altisource Portfolio Solutions S.A. (NASDAQ: ASPS) is a premier marketplace and transaction solutions provider for the real estate, mortgage and consumer debt industries. Altisource's proprietary business processes, vendor and electronic payment management software and behavioral science-based analytics improve outcomes for marketplace participants. Additional information is available at altisource.com.

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