If you’re thinking of selling your house, you probably have a long list of questions about how to maximize your profits. One of the most important considerations is who you hire to sell it. If you live in the southeast, one option is Mark Spain Real Estate, a brokerage that offers different ways to sell a home in select markets. Read on to learn more about the company, how it works, and whether it’s a good fit for your needs.
What is Mark Spain Real Estate?
brand spain is a real estate agency based in Alpharetta, Georgia (which is just north of Atlanta). The company was launched in 2016 when Mark Spain, his founder, left his role as his agent at Keller Williams to start his own company. Today, it has multiple offices throughout the Southeast and operates in Georgia, Tennessee, North Carolina, South Carolina, Florida, Alabama, and Texas. The company offers home sales services, as well as home purchase and rental options.
How does Mark Spain Real Estate work?
The company works in a similar way to most real estate brokerages. Buyers and tenants are connected with a Mark Spain agent to find suitable options. For home sellers looking for a traditional open market listing, a Mark Spain agent conducts a comparative market analysis to get an idea of how much is the house worth, lists the house on the local MLS and markets it for sale, just like any agent would. According to the company’s website, its traditional listings sell out in an average of 25 days and are typically 98 percent of the asking price. However, that is not the only way to sell a house with the company.
Sell your house with Mark Spain
Instead of selling your house with Brand Spain, as indicated above, you can also sell it. to the company, with no agent and in cash, through its Guaranteed Offer program. This works similar to most cash home buying companies: You make a cash offer on your home, subject to an inspection, and if you accept, you can close in as little as 21 days.
However, not all homes are eligible for the Guaranteed Offer program. To qualify, a home must be a single-family property that:
- It is located in one of Mark Spain’s service areas and not in or near a flood zone.
- It was built after 1960.
- It is valued between $50,000 and $650,000
- Is owner-occupied or vacant
- It is not in distress nor is it owned by the bank.
- It has no unauthorized additions or major foundation issues.
This option can be very useful if you expect buy a house before selling the current one, because you will have a firm idea of how much money you will have to spend. The downside, however, is that companies that buy homes for cash almost always offer less than what you could earn from a traditional open market sale.
How does Mark Spain make money?
Although Mark Spain Real Estate does not disclose the details of its business model, agent-assisted real estate transactions typically operate on commission. Agents will get a percentage of the sale price of each transaction, with a portion of that percentage typically going to the brokerage. The company says it sold $3.8 billion worth of residential real estate in 2022, so even a small part of that would be a big profit. If you are considering working with Mark Spain, be sure to ask your agent for a full breakdown of the commission you will be required to pay and any closing costs you will be responsible for, if any.
The company is also likely to make money selling the homes it buys through its Guaranteed Offer program. Although Mark Spain does not buy distressed homes in condition as isas most companies that buy homes with cash do, the purpose of offering a quick sale of real estate The cash payment up front is usually so the buyer can fix up the property and resell it for a profit.
Mark service areas in Spain
Mark Spain Real Estate is not a nationwide operation, but it does have extensive coverage throughout the Southeast. As of May 2023, the company serves the following markets:
- Alabama: Birmingham
- Florida: Jacksonville, Orlando and Tampa
- Georgia: Alpharetta, Atlanta, Athens, Buford, Marietta and Stockbridge
- North Carolina: Charlotte, Greensboro and Raleigh
- South Carolina: Greenville
- Tennessee: Chattanooga and Nashville
- Texas: Dallas and Fort Worth
Alternatives to Mark Spain
There are many other ways to sell a house in the Southeast, a particularly attractive region for the real estate sector these days. Here are some alternatives:
- Use a different brokerage: According to the National Association of Realtors, there are more than 106,000 brokerage firms in the country. Ask friends and family for recommendations of real estate agents in your area and interview several candidates to find the right one for you.
- Find an iBuyer or Home Buying Company: If you are considering Mark Spain’s guaranteed offer program, you may also want to check out iBuyers and other companies that buy homes. The two biggest names in iBuying, Open door and offer padboth operate in many of the same markets as Mark Spain, including Atlanta, Charlotte, Tampa and Dallas-Fort Worth.
- Do it yourself: If you have the time and feel comfortable negotiating, consider the FSBO, or for sale by owner, route. However, you should be prepared to put in a lot of work to promote the ad and attract interested buyers.
- rent it: Depending on your financial situation, you may be able to keep the home and earn some rental income instead of selling it. If you’re thinking about it, make sure you have what it takes to own.
Bottom line: should you use Mark Spain Real Estate?
The company offers several options for selling a home, particularly the Guaranteed Offer, but that doesn’t necessarily mean it will be the best option for you. If you live in one of the company’s service areas, check out their reviews online and ask if anyone you know has had experience with them. If you decide to use them, make sure you have a solid understanding of the commissions and fees you’ll be charged before you sign anything; their website doesn’t answer that question, so you’ll need to ask it directly.
It’s unclear from the company’s website, but all signs point to it. Most agent-assisted real estate transactions involve a standard commission rate, which typically amounts to 5 to 6 percent of the final sales price. The company has a builder referral program that specifies a reduced 4 percent commission for sellers who also purchase a new construction home from certain Atlanta-area builders. No specific fees are outlined for the Guaranteed Offer, which does not involve an agent, but be sure to check both fees and closing costs. Do not sign anything until you have a solid understanding of how much you will be charged.
Yes, Mark Spain Real Estate is legit. It was founded by Mark Spain, a second generation real estate agent, and is based in Alpharetta, Georgia. The company has around 400 agents and 16 offices throughout the Southeast. He has also been named one of the Atlanta Journal-Constitution’s Best Places to Work.
Mark Spain Real Estate has been in business since 2016, when Spain, the company’s founder, left Keller Williams to launch his own company.