Iggys House was founded in April 2005 by the founders of Web Street Securities. Web Street was at the forefront of the online investing revolution. They saw how consumers could be armed with information that was formerly difficult to obtain, while empowering them to make their own investment decisions at a much lower cost. They believe that residential real estate brokerage is poised for dramatic change, much as the stock brokerage industry was in the mid nineties.
When Web Street was founded in 1996, there were fewer than 200,000 online accounts nationwide. Today, there are more than 30,000,000. The logic for this explosive growth is clear. The vast majority of a broker's commission is for the advice they give to inform an investor’s decision. So if an investor decides what securities to buy or sell without that advice, they do not want to pay a broker a full commission to simply execute an order.
This same logic applies to real estate. Thanks to the Internet, consumers are now empowered with the information they need to find their own home. Many buyers now find their home on their own and then turn to a real estate agent for help in making offers and closing the sale. Arguably, it is one of the agent's primary values to help the consumer find the home they want to buy. It simply doesn't make sense for the agent to retain the full buy-side commission for the work that the home buyer has actually done.
Web Street became a publicly traded company in 1999 before merging with E*Trade Financial Group in 2001. Along the way, it earned a four star rating from Barron's, was named a top three online broker multiple times, and was recognized by SmartMoney Magazine as having the highest regulatory compliance performance of all on-line brokerage firms. Web Street's success came from combining value for the consumer, with leading edge technology and exceptional service.
Iggys House operates with this same, proven formula.
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We are not an MLS, and do not operate an MLS. Under MLS rules, consumers do not have direct access to MLS databases. Under MLS rules, consumers cannot search MLS databases that are available only to MLS subscribers and participants. ©2008 Iggys House Brokerage Services, Inc. |
