SOURCE: PowerHouse Properties of RE/MAX Classic

PowerHouse Properties of RE/MAX Classic

January 27, 2011 10:11 ET

PowerHouse Properties of RE/MAX Launches "PAYBAX" Commission Free Alternatives

RYE, NY--(Marketwire - January 27, 2011) - PowerHouse Properties of RE/MAX officially announces the PAYBAX Program, a revolutionary advantage in the Real Estate Industry. Richard S. Cohen, Wall Street expert and CEO of PowerHouse Properties of RE/MAX Classic Realty, merged the conventional real estate business design with Main Street financial modeling to create PAYBAX. Unlike other discount services such as, ClickIt Realty,, Assist2Sell and others, this unique program provides home sellers with commission free options, new FSBO alternatives, and total control over their real estate transactions.

The PAYBAX Program for sellers offers a commission free way for a seller to gain maximum exposure with the largest, most recognized real estate company worldwide. A seller receives full service and saves tens of thousands of dollars, which can be used as a powerful negotiating tool which, in this market, invariably makes the difference. When a seller can factor the money they'll save back into their budget, then they have real leverage to negotiate and get the job done. A seller can price their home more aggressively and still net as much or more without paying any realtor fees.

Mr. Cohen founded PowerHouse Properties of RE/MAX because of the inability of many brokers to negotiate a fair price for their services and the disconnect that resulted. "It seemed that if my sellers couldn't pay, they weren't even afforded the opportunity to sell," stated Cohen. "I asked myself who we represent. Do we represent ourselves, our interests, and what's best for our bottom line? No, absolutely not. We represent our sellers, the people who are trying to move on to the next phase of their lives."

"The epiphany came when we realized that if you sell your home, you probably need somewhere else to live," chuckles David Grashow, Managing Director of PowerHouse Properties. "So, we started looking at the broader picture. Instead of treating each seller like a cash cow, to be milked for top dollar until there's nothing left, we began working with people to help them facilitate an important transition in their lives from start to finish and we do it in a way that is both profitable and transparent for ourselves and our clients. Under PAYBAX a Seller is represented throughout the entire process from selling their home to purchasing a new one. Our job is done when our Seller is resting comfortably with their feet up in their next home."

"We didn't reinvent the wheel, but we're keeping home sellers from spinning theirs," explains Mr. Cohen. "RE/MAX has always been comprised of innovators who demand results that supersede industry standards. This business is broken. Nearly 28% of home owners are currently under water in their mortgages, and sellers don't have to be one of those unfortunate souls to be experiencing trouble selling their home in this market. If a seller is one of the unfortunate 28%, that seller can't afford to pay a typical realtor commission, nor does the seller need to anymore. We're human beings with a conscience and a heart. We want to help people achieve their goals and we don't feel we need to conform to old fashion Horse & Buggy standards to make it happen."

A seller offsets the cost to market their home under PAYBAX and in return enjoys a full range of realtor services. PowerHouse Properties receives a commission for representing their PAYBAX Sellers when they purchase their next home in the future and then pay back everything it cost plus one dollar. The end result is that a seller saves thousands, perhaps tens of thousands in commission fee's to sell their home. The money saved can be used as a powerful negotiating tool and allows a seller to price their home more aggressively. Coupling those points with the maximum exposure provided by RE/MAX globally we generate real leverage that gets the job done.

This creative solution was invented and proven by Mr. Cohen after he was discouraged by what he saw as an unfair system that was inadvertently skewed towards a broker's ability to make money regardless of a client's needs and limitations. "In a seller's market agents would over price a home just to get the listing, while in a buyer's market they would underprice just to get a sale," continued Cohen. "Because PAYBAX is a commission free selling option, our Sellers can often price lower, negotiate better and net more. We've found that it's the 5% or approximate commission amount that makes the difference between listing a home and actually selling a home today."

Cohen continued "PAYBAX for buyers also creates leverage, by offering up to $50,000 cash back at closing. This cash can be used to close the gap during a tough negotiation and/or update the home, or perhaps taking a much deserved vacation."

PowerHouse Properties and RE/MAX can represent a client any city, in any country, globally. This ability paired with PAYBAX can yield exceptional results.

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